Oil and Gas News

February 24, 2016

North Sea fading, industry body warns
London (UPI) Feb 23, 2016
A British industry body said the North Sea energy sector is in for a long period of decline, with less than $1.4 billion in new spending expected in 2016. A report from Oil & Gas U.K. finds exploration activity offshore is at an all-time low and there are no signs of improvement. Less than $1.4 billion in spending on new projects is expected in 2016, compared with an average of around $7 billion in the last five years. The group's chief executive, Deirdre Michie, said North Sea oil and g ... read more

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Remote predictions of fluid flow in fractures possible with new finding A team of researchers has created a way to quickly and remotely evaluate fluid flow in subsurface fractures that could impact aquifers, oil and gas extraction, sequestration of greenhouse gases or n ... more		Eastern Europe energy sector vulnerable, commissioner says Eastern Europe may be bearing the brunt of a bloc-wide energy policy that's lagging in erasing concerns about security of supply, a commissioner said. ... more		Oil searches for traction amid production row A rally in crude oil prices stalled out in early Tuesday trading as markets waited in anticipation of Saudi Arabia's gauge of the impact of a production freeze. ... more
				Suncor wrapping up grab of Canadian Oil Sands Canadian energy company Suncor said that, with most of the shares of rival Canadian Oil Sands Ltd. in its control, the latter was on a path to delisting. ... more		Peruvian health officials on alert after oil spills The Peruvian Ministry of Health said it had officials dispatched to the Amazon River basin to monitor remediation efforts following a series of oil spills. ... more

BHP Billiton cuts divided amid sector weakness Australian mining and energy giant BHP Billiton said it retooled its corporate team and adopted a new dividend policy in response to oil market weakness. ... more		Three weekend tremors in shale-rich Oklahoma Seismic activity in shale-rich Oklahoma was apparent again, with the U.S. Geological Survey recording three minor events in less than 24 hours as of Monday. ... 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		Oil soars on expected fade in U.S. supply The expected decline in U.S. crude oil production boosted market sentiments of a return to balance, pushing crude oil prices sharply higher Monday. ... more
				EnQuest, Cairn strengthen North Sea hold Even as pressure builds on the North Sea energy sector, British energy company EnQuest said it strengthened its hold over the Kraken oil field. ... more		Iran opening energy doors for Europe Iran said Monday it expected to renew an energy relationship with German company Siemens, which was suspected of Internet sabotage in 2010. ... more

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Eni cleared to develop Zohr gas basin in Egypt Italian energy company Eni said it received consent from the Egyptian government to lay the groundwork for developing a giant offshore gas basin. ... more		Moody's: Gulf banks pressured by oil Banks for members of the Gulf Cooperation Council, which includes Saudi Arabia, face pressure from low oil prices despite government support, Moody's 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		Wood Group cuts North Sea contractor rates British energy services company Wood Group said Friday it was cutting rates paid to its North Sea contractors because of negative market pressures. ... more
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

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

Woodside wades into West African basins		Russia open to possible oil output hike		Iran part of OMV revival strategy		Refugio Beach oil spill tied to pipeline corrosion		Oil rallies on Iran support for production freeze
Attacks halt Kurdish oil exports		Massive California gas leak permanently capped		Oil flowing from British shale		Suit in Oklahoma ties fracking to earthquakes		Iraq Kurds say will accept PM's oil for salaries deal

Woodside Petroleum bracing for weakness

Statoil cancels Maersk rig contract

Oil soars as ministers meet in Tehran

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

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