Oil and Gas News

March 03, 2016

Oil price rally stumbles on inventory data
New York (UPI) Mar 2, 2016
A spike in U.S. crude oil inventories and questions about Chinese economic recovery brought an end to a short-term rally in oil prices in Wednesday trading. Crude oil prices have moved higher in previous sessions in response to proposals from major producers Saudi Arabia, Russia and others to freeze their output of oil at January levels. Russian President Vladimir Putin told oil sector leaders this week in Moscow that finding some way to reinvigorate energy markets was a global priority. ... read more

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Shell faces fresh Nigeria pollution claims in London Oil giant Royal Dutch Shell came under renewed scrutiny on Wednesday over its environmental record in Nigeria after lawyers brought fresh claims of damage caused by spills to a London court. ... more		Canada's Nexen reducing headcount A Canadian subsidiary of China National Offshore Oil Corp. said it was reducing its headcount as the industry works through a weakened oil economy. ... more		Exxon notes flexibility of investments Exxon Mobil said Wednesday it has room to adjust its investment program even after it outlined spending plans for the year at 25 percent below 2015 levels. ... more
				Tullow Oil may do OK, Moody's says The outlook for Africa-focused Tullow Oil is negative, though the company may recover on the back of new Ghanaian operations, Moody's Investors Service said. ... more		Russia confirms January oil production freeze proposal The Kremlin confirmed the directors at Russia's major oil companies agreed to a proposal to hold production levels static in an effort to stimulate the market. ... more

Schlumberger touts streamlining during downturn The integration with fellow services company Cameron International will help drive momentum forward as the market recovers, Schlumberger said. ... more		Statoil to explore offshore Ireland Following a successful 2015 auction, Norwegian energy company Statoil said it was building a better position in the emerging reserve potential offshore Ireland. ... 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		Sponge structure key to mopping up oil spills An interconnected structure, which water can easily flow through, is key to creating a highly effective mechanical sponge for clearing oil spills. These are the findings from scientists at the Istit ... more
				Statoil taps first well for early phase of Johan Sverdrup Norwegian energy company Statoil said Tuesday it started drilling the first well for the Johan Sverdrup field, one of the largest ever discovered. ... more		Kremlin mulling privatization options for oil Russian investment consultants are being asked about the possible terms of privatization of parts of the state-controlled oil sector, a minister said Tuesday. ... more

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Military Network Modernization 2016 - Washington DC - April 25-27

Tempur-Pedic Mattress Comparison & Memory Foam Mattress Review

Commercial potential for British shale oil A British company tapping into inland shale oil basins said oil was flowing to the surface at a natural rate fast enough to yield obvious commercial potential. ... more		British fracking surveys may address tremors The British Geological Survey said Tuesday it's uncovered data that could help address concerns about seismic activity associated with hydraulic fracturing. ... 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		Iraq oil exports and revenue down in February Iraq's oil exports and revenue dipped in February compared with the previous month as low global crude prices offered Baghdad no financial respite, a statement said on Tuesday. ... more
Texas shows increase in oil production Texas crude oil production increased 5 percent in December even as markets moved closer to historic lows, state data for the month show. ... more		Oil surges on China stimulus, Saudi cooperation talk World oil prices surged higher Monday as China boosted efforts to tackle its slowing economy and Saudi Arabia welcomed cooperative action to stabilize the market. ... more		U.S. gas prices spiking The retail price for gasoline in the United States is moving higher at its fastest clip in four months as seasonal and market pressures mount, analysis finds. ... 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

	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		North Dakota rig count holds steady 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. ... 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 names former Shell brass to board		Oil prices up on Saudi market pledge		Genel takes charge on lower Kurdish oil estimate		Gazprom production falters		MEO Australia gets support for Cuban oil program
Oil rebounds on China stimulus move		Potential for Texas LNG export facility building		Oil hopes fade offshore Congo		Oil prices posting heavy gains		Oil spill emergency in Peruvian native communities

Opposition building against Atlantic drilling

BP laying groundwork offshore Egypt

BASF sees further challenges from China, oil price this year

Halliburton cuts staff on market weakness

Italy's Eni lowers oil forecast

Crude oil drifts lower on U.S. employment data

Continental Resources calls for patience

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

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