Oil and Gas News

January 27, 2016

Oil-rich Saudis tilts toward more openness
Riyadh, Saudi Arabia (UPI) Jan 26, 2016
With the privatization of its state-owned oil company on the agenda, a Saudi competition director called for more government support for market newcomers. The Saudi Arabian Oil Co., announced in early January it was reviewing the potential to list its shares on the public market for the first time in the company's history. Once a study on the possibility is completed, the state-run company said it would present results to the board of directors, which would then make its recommendation to the g ... read more

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Jan 21

Kuwait, Iraq say OPEC will not cut output alone The Kuwaiti and Iraqi oil ministers said on Tuesday that OPEC will not cut production unless producers outside the cartel do the same, despite the plunge in crude prices. ... more		Iran, Italy sign energy agreements Italian energy company Saipem said it signed an agreement to explore the option for working in the opening Iranian oil and gas sector. ... more		China starts gas production with Chevron China's largest energy company said it started commercial gas production from a field located in the Sichuan basin in southwest China. ... more
				Aliso gas leak effort in final phase The steps necessary to stop the gas leak from Aliso Canyon in California is underway, though work won't be done until the end of February, a gas company said. ... more		Gas prices volatile, but remain low Though the average U.S. price for a gallon of gasoline went up by a fraction of a cent, retail prices remain at their lowest in six years, market reports show. ... more

Hess trims spending guidance U.S. upstream player Hess Corp. said it was cutting planned spending for exploration and production for the year by 20 percent to $2.4 billion. ... more		Crude oil recovers from Monday's loss Crude oil prices started Tuesday in volatile territory after giving up recent gains, but held above $30 per barrel amid modest signs of economic optimism. ... more		Fossil fuels harm health from 'cradle to grave': report Trash, mulch and security: All jobs for troops in Washington Rising oceans to threaten 1.5 million Australians by 2050: report		ExxonMobil sees lower 'carbon intensity' in 2040 Global energy demand will rise by 25 percent through 2014, but greater use of low-carbon fuels will cut carbon emission relative to economic activity, said an ExxonMobil forecast released Monday. ... more
				Iran's Rouhani embarks for European trade tour With the nation's oil minister in tow, Iranian President Hassan Rouhani left Tehran for his first post-sanctions tour of European countries. ... more		Will oil prices rebound in 2016 Oilprice.com recently spoke with Carl Larry, Director of Oil and Gas at Frost and Sullivan, a consultancy that conducts research on oil and gas markets, to get his thoughts on the state of oil in 20 ... more

Military Radar Summit 2016 - Washington DC - February 29

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North Dakota rig count down 20 percent so far this year The number of rigs exploring for oil and natural gas in North Dakota is down roughly 20 percent from the start of the year, state data show. ... more		OPEC losing clout, energy chief says The Organization of Petroleum Exporting Countries is fading, though Middle East producers may reign supreme, the CEO of Italian energy company ENI said. ... more		Alien civilizations may be far rarer than hoped study suggests Mapping the Universe faster without sacrificing precision Mysterious 'red dots' in early universe may be 'black hole star' atmospheres		Oil services company Halliburton posts deep loss Steep declines in the North American market were in part behind the 9 percent decline in revenue, oil field services company Halliburton said. ... more
Turkey a vital energy partner, EU says Turkey is a fundamental partner in the drive to ensure the European energy sector is well supplied and free from dominance, the European Commission said. ... more		Texas oil production slumps 5 percent Crude oil production of 70.9 million barrels in November for Texas was nearly 4 million less than the previous month, a state energy regulator said. ... more		Schlumberger sees little chance of market recovery With North American investments at historic lows, there are few signs of short-term recovery in the energy sector, services company Schlumberger said. ... more		Russia sees oil settling near $30 per barrel Oil market volatility can't last very long, as $30 per barrel may emerge as the low-point for the year, the head of a Russian financial services company said. ... more

	Lundin sells Malaysian infrastructure Swedish energy company Lundin Petroleum said it was taking in cash after shedding infrastructure in Malaysia it said is not part of its core business strategy. ... more		Moody's: Low cash flow for oil and gas drillers North American companies focused on exploration and production can expect the market to deteriorate further as low oil price pressures endure, Moody's said. ... more

U.S. defense in free fall

U.S. and Saudis conduct Middle East's largest counter-drone exercise

Saudi Arabia and Pakistan sign mutual defense pact

Crude oil prices move up 5 percent		BP sees no rush to tap into Iran		Energy spending cuts may usher in recovery		Gazprom mulls LNG options for Pakistan		Total scales back role in Russian oil field
Iraq faces 'harsh year' due to oil price fall: minister		Canada's Trudeau sees low-carbon opportunities		Woodside to take $1.2 million write off		Oil ticks lower after ECB rate decision		NGOs call for oil drilling ban at Africa's Virunga wildlife park

Sponge-like material can store natural gas

China's Xi opens refinery with Saudi King Salman

Shell not sure when recovery will emerge

Kurdish oil player Genel sees trouble ahead

EIA: Oil markets won't balance until 2017

China oil giant targets first output cut for a decade

Iran's Khamenei: Economic recovery is on us

Vietnam warns China over oil rig deployment

AAA: Savings at the pump starting to plateau

Crude oil moves lower as pessimism sets in

API: Regulations to blame for market slump

The trio who led Saudi Arabia's year of change

Shell lease requests offshore Alaska face scrutiny

Chevron in Chinese deal for LNG deliveries

CNOOC trims production guidance

Alberta's economy pinched by oil

Chinese president in Saudi Arabia to bolster ties

Iraq aims to cut spending on oil companies as prices dive

IMF lowers economic forecast for Saudi Arabia

Oil price leverage failed, Iran says

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