Oil and Gas News

March 01, 2016

North Dakota rig count holds steady
Bismarck, N.D. (UPI) Feb 29, 2016
With crude oil trying to stage a recovery, the rig count in North Dakota held steady despite a net decrease in the United States, state data for Monday show. State data show 38 rigs in active service as of Monday, unchanged from last week. The all-time low point is zero and the current rig count is 15 percent below the last record low of 45 reported in August 2009. Oilfield services company Baker Hughes reported 502 rigs were actively exploring for or producing oil and natural gas in the ... read more

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Woodside names former Shell brass to board Australian energy company Woodside Petroleum said it named one of Shell's leaders in Arctic exploration as a non-executive member of its board. ... more		Oil prices up on Saudi market pledge A pledge Monday from Saudi Arabia to work with fellow producers to achieve market stability gave momentum to an emerging rally in crude oil prices. ... more		Genel takes charge on lower Kurdish oil estimate Lower crude oil prices and a downward revision in the recoverable reserve estimate in the Kurdish north of Iraq means a charge on the books, Genel Energy said. ... more
				Gazprom production falters Though output was enough to satisfy export demands, Russian energy company Gazprom said its production for 2015 was less than the previous year. ... more		MEO Australia gets support for Cuban oil program MEO Australia Ltd. said it was able to raise more than $1 million to help finance its fledgling exploration program for oil near the coast of Cuba. ... more

Oil rebounds on China stimulus move World oil prices rebounded Monday after China's latest stimulus move boosted hopes of strengthening demand in the key energy consumer. ... more		California blowout led to largest US methane release ever The Aliso Canyon natural gas well blowout released over 100,000 tons of the powerful greenhouse gas methane before the well was sealed on Feb. 11, according to the first study of the accident publis ... more		Solar-driven ionosphere charges may nudge stressed faults toward rupture Stable black carbon in mangrove soils boosts coastal climate role Low crystallinity iron minerals show promise for chromium cleanup and carbon storage		Weil revives helium industry in Saskatchewan Weil Group Resources is constructing a new $10 million helium processing facility in Saskatchewan, Canada to supply refined, industrial-grade helium to markets throughout North America. The plant wa ... more
				Potential for Texas LNG export facility building Australian gas leader Woodside said it was wading into the growing liquefied natural gas sector in the United States with an agreement to tap Texas port developments. ... more		Oil hopes fade offshore Congo Central African oil player SOCO International said it came up empty-handed while drilling in the waters off the coast of the Republic of Congo. ... more

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Oil prices posting heavy gains Crude oil prices skyrocketed in early Friday trading following an upward revision in U.S. economic growth, fueling momentum sparked by production talks. ... more		Oil spill emergency in Peruvian native communities Peru's government declared a state of emergency in 16 Amazon rainforest communities Sunday due to oil spills in the northeastern Loreto region. ... more		Trump announces new US 'Space Academy' Israel signs with Greece one of its biggest-ever arms sales Middle East war a boon for UAE defence giant with global ambitions		Opposition building against Atlantic drilling Opposition to a lease plan for the U.S. waters of the Atlantic grew after Virginia said it wanted to be left out of any future drilling plans. ... more
BP laying groundwork offshore Egypt Danish engineering company Subsea 7 said it was awarded a contract to help BP develop three gas fields, including laying export lines, off the coast of Egypt. ... more		BASF sees further challenges from China, oil price this year BASF, the world's biggest chemicals company, said Friday that slowing growth in China and falling oil prices will remain its biggest challenges this year after they weighed on business in 2015. ... more		Halliburton cuts staff on market weakness An 8 percent cut in headcounts at Halliburton is a result of a weak energy sector and not an adjustment ahead of the Baker Hughes merger, a spokeswoman said. ... more		Italy's Eni lowers oil forecast Italian energy company Eni said Friday it recorded a loss in the fourth quarter and was lowering its outlook for crude oil prices in its plans for the year. ... more

	Crude oil drifts lower on U.S. employment data Crude oil prices stumbled out of the gate in morning trading Thursday in New York as U.S employment figures fell, pulling pressure away from the demand side. ... more		Continental Resources calls for patience U.S. shale leader Continental Resources reported a net loss for the fourth quarter and said it would trim spending in an effort to return value to shareholders. ... more

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Nation's largest methane release followed L.A. gas blowout		Oil-rich Alberta to linger in recession		First U.S. LNG cargo sets sail		Transocean sees trouble ahead		Repsol sells British wind energy business
Spain's Repsol loses 1.2 bn euros in 2015 due to oil price plunge		One-step process to convert CO2 and water into liquid hydrocarbon fuel		Oil prices resume slide into red territory		Maersk Oil builds footprint in Africa		Shale player Encana cuts spending plans

U.S. oil sent to Israeli refineries

Chesapeake Energy to focus on divestments

North Sea fading, industry body warns

Remote predictions of fluid flow in fractures possible with new finding

Eastern Europe energy sector vulnerable, commissioner says

Oil searches for traction amid production row

Suncor wrapping up grab of Canadian Oil Sands

Peruvian health officials on alert after oil spills

BHP Billiton cuts divided amid sector weakness

Three weekend tremors in shale-rich Oklahoma

Oil soars on expected fade in U.S. supply

EnQuest, Cairn strengthen North Sea hold

Iran opening energy doors for Europe

Eni cleared to develop Zohr gas basin in Egypt

Moody's: Gulf banks pressured by oil

Wood Group cuts North Sea contractor rates

Russia sees possibility for economic contraction

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

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