Oil and Gas News

February 25, 2016

Oil prices resume slide into red territory
New York (UPI) Feb 24, 2016
Crude oil prices moved sharply lower in Wednesday trading after Saudi Arabia's oil minister said there was no chance for a production cut. Saudi Arabia recently joined some members of the Organization of Petroleum Exporting Countries and Russia in backing a move to freeze production at January levels provided other oil-rich countries follow suit. That led to a short-term rally in crude oil prices as markets expected a shift away from the supply side. Saudi Oil Minister Ali al-Naimi told ... read more

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Maersk Oil builds footprint in Africa Danish energy company Maersk Oil said it was taking a stronger position in operations in emerging oil prospects in Kenya and Ethiopia. ... more		Shale player Encana cuts spending plans North American shale player Encana Corp. said it was revising its 2016 spending plan to strengthen its balance sheet with only minor impacts on production. ... more		U.S. oil sent to Israeli refineries Dutch oil trader Trafigura confirmed it delivered a cargo of crude oil sourced from U.S. basins to Israeli refineries in an early start for U.S. oil deliveries. ... more
				Chesapeake Energy to focus on divestments U.S. natural gas company Chesapeake Energy said it would focus on divestments as it trims its spending forecast for 2016 by more than 50 percent. ... more		North Sea fading, industry body warns 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. ... more

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		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 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

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

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		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 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		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

	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

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

Payments continue for Kurdish oil exports		Rare win for Halliburton with North Sea agreement		U.S. to open more drilling sites in Gulf of Mexico		California methane leak stopped		Oil moves sharply lower on supply data
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

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