Oil and Gas News

February 22, 2016

Wood Group cuts North Sea contractor rates
Aberdeen, Scotland (UPI) Feb 19, 2016
British energy services company Wood Group said Friday it was cutting rates paid to its North Sea contractors because of negative market pressures. Rates paid to about a third of its British-based contractors will be cut by around 9 percent in response to what Wood Group said were cost and efficiency challenges in the North Sea oil and gas sector. "This is not a decision we have taken lightly, but we believe it is the right one to proactively meet the continuing cost and resourcing chall ... read more

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Feb 21

Feb 20

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Feb 18

Feb 17

Russia sees possibility for economic contraction With energy playing a dominate role in national finances, Russia's deputy prime minister said Friday an economic contraction is possible for this year. ... more		Payments continue for Kurdish oil exports Though its government said it's struggling financially, Gulf Keystone Petroleum said it was still getting paid for oil exported from the Kurdish north of Iraq. ... more		Rare win for Halliburton with North Sea agreement In a rare win for the upstream energy sector, British company Cluff Natural Resources said Friday it extended a North Sea agreement with Halliburton. ... more
				U.S. to open more drilling sites in Gulf of Mexico Opening up more acreage in the Gulf of Mexico to potential oil and gas drillers could bring in more revenue to federal and state coffers, a regulator said. ... more		California methane leak stopped Investigators in southern California said they're focusing their efforts on the causes behind a methane leak now that a faulty well is sealed. ... more

Oil moves sharply lower on supply data Oil prices made a sharp reversal in Friday trading as market fundamentals moved to overshadow short-term reactions to production freezes earlier this week. ... more		Woodside wades into West African basins Despite reporting weakness during the sector downturn, Australia's Woodside Petroleum said it acquired new exploration acreage off the West African coast. ... 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		Russia open to possible oil output hike A move to freeze crude oil production at January levels still leaves room for production growth from Russia this year, the deputy energy minister said. ... more
				Iran part of OMV revival strategy Austrian energy company OMV said it was placing bets on opportunities in Iran as it retools its upstream portfolio for growth in the weakened energy sector. ... more		Refugio Beach oil spill tied to pipeline corrosion The federal government said its preliminary report of the May 2015 oil spill at Refugio Beach in southern California found pipeline corrosion to be the culprit. ... more

Space Tech Expo - Design - Build - Test - Pasadena CA - May 24-26, 2016

Military Radar Summit 2016 - Washington DC - February 29

Tempur-Pedic Mattress Comparison & Memory Foam Mattress Review

Oil rallies on Iran support for production freeze An Iran decision to back a multilateral oil production freeze helped support a rally in crude oil prices Thursday, though analysis finds supply strains persist. ... more		Attacks halt Kurdish oil exports The Kurdish government in northern Iraq said crude oil exports from the region were interrupted because of attacks on a pipeline across the border in Turkey. ... 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		Massive California gas leak permanently capped A leaking gas well that spewed tons of methane into the air and forced thousands of Los Angeles residents from their homes has been permanently sealed, state officials said Thursday. ... more
Oil flowing from British shale A British energy company said Wednesday shale oil continued to flow naturally to the surface, a day after it declared high rates from its Horse Hill license. ... more		Suit in Oklahoma ties fracking to earthquakes Environmental advocacy group Sierra Club said it filed a lawsuit against energy companies involved in Oklahoma shale in part because of the rise of earthquakes. ... more		Iraq Kurds say will accept PM's oil for salaries deal Iraq's autonomous Kurdish region said Wednesday that it would halt independent oil sales if Baghdad pays its employees, but cast doubt on the federal government's ability to implement the proposal. ... more		Woodside Petroleum bracing for weakness Supply-side pressures are expected to last through most of 2016 and continue to pressure growth opportunities, Australia's Woodside Petroleum said. ... more

	Statoil cancels Maersk rig contract Norwegian energy company Statoil said Wednesday it decided to cancel a rig contract with Maersk Drilling, transferring the terms to French supermajor Total. ... more		Oil soars as ministers meet in Tehran Crude oil prices soared in Wednesday trading as petroleum ministers reviewed productions levels in Tehran, even as Iran maintains defense of its market share. ... 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

Iraq Kurds made $3.94 bn from direct oil sales in 2015		Retail gas prices may be at seasonal low point		Oil-rich Oklahoma looks to tourism for revenue		EU aims for more diverse energy sector		Statoil makes green investments
OMV brings Statoil to New Zealand		Oil struggles for gains despite latest production talks		Alexei Miller re-elected to lead Gazprom		Does living near an oil or natural gas well affect your drinking water		Iraq PM offers cash-strapped Kurds salaries for oil

Several quakes strike oil-rich Oklahoma

Oil spills in Peruvian Amazon hit wildlife

Oil ticks slightly higher, though Japan clouds momentum

North Dakota rig count moves lower

No discounts for oil, Iran says

BG Group fully incorporated under Shell

UAE's Dana Gas bucks trends with profit

Construction for Johan Sverdrup platform begins

EIA revises Oklahoma oil production higher

Iran again postpones London energy summit

California gas leak under control

More natural gas found offshore Myanmar

Firm aims to support hobbled offshore drillers

OPEC rumors again drive oil higher

TransCanada says position strong without KXL

PBF Energy reports lower income

EIA: U.S. energy spending down sharply

DNO upbeat on Kurdish oil payments

Continental's proven reserves drop

Oil prices tumble after Fed testimony

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