Oil and Gas News

March 07, 2016

Nigeria breaks up state oil company
Abuja, Nigeria (UPI) Mar 4, 2016
The state-oil company of Nigeria, burdened by corruption and revenue losses, will be split up into dozens of distinct companies, the petroleum minister said. "For the first time, we are unbundling the subset of the Nigerian National Petroleum Corp. to 30 independent companies with their own managing directors," Nigerian Petroleum Minister and Managing Director of the Nigerian National Petroleum Corp. Emmanuel Kachikwu said in a statement. Nigeria's oil-dependent economy has struggled und ... read more

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S.Sudan oil production pollution threatens thousands: monitors Dangerous heavy metals used in oil production in war-torn South Sudan have leaked into drinking water sources used by 180,000 people with life-threatening health risks, a rights group said Friday. ... more		Build contracts awarded for European gas pipeline A pipeline consortium slated to bring non-Russian natural gas through southern Europe said it awarded contracts for pipeline construction in Greece and Albania. ... more		Greenpeace: Russia has no appetite to control oil spills Following an oil spill in eastern Russia, Greenpeace said oil companies struggling through a market downturn have no appetite to fix aging pipelines. ... more
				Gazprom gets loan from Bank of China In a first, Russian energy company Gazprom said it secured a five-year loan from the London branch of the Bank of China for more than $2 billion. ... more		Class-action suit filed against Chesapeake, SandRidge Chesapeake Energy and SandRidge energy worked to rig bids and limit competition for oil and gas acreage in Oklahoma, a class-action suit alleges. ... more

Oil edges up on production meetings in Moscow Speculation surrounding a Moscow meeting of oil producing nations gave a lift to crude oil prices, capping off a week of broad market volatility. ... more		Board supervisor at OMV steps down A board supervisor at Austrian energy company OMV said he was stepping down now that the foundations are in place for future momentum. ... 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 weakness catching up with Texas Oil price weakness is finally catching up with Texas oil producers and contraction is now expected throughout 2016, an industry economist said. ... more
				Woes emerge after Aliso Canyon gas leak stopped After stemming a major methane gas leak, Southern California Gas Co. said the air was clear for residents despite a judge ruling against relocation. ... more		Eni expands capacity in Iraqi oil More capacity was added to operations associated with the Zubair oil and gas field in southern Iraq, Italian energy company Eni said Thursday. ... more

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Tempur-Pedic Mattress Comparison & Memory Foam Mattress Review

Deloitte brass to help lead Hess Hess Corp., a U.S. company focused on exploration and production, said a former boss at Deloitte was taking charge with chairman Mark Williams standing down. ... more		Iraqi-focused Genel feeling market strains Iraqi oil-focused Genel Energy said that, even though production was up 22 percent from 2014, revenues for the year fell 34 percent on oil price weakness. ... 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 drifts lower again on inventory data Official data on U.S. crude oil inventories showed an increase, adding to supply-side concerns and sending oil prices lower for a second day Thursday. ... more
1,000 barrels of oil spilled in Russia's far east A subsidiary of Russian oil company Rosneft said Thursday about 1,000 barrels of oil were spilled at an oil field on Sakhalin Island in Russia's Far East. ... more		Oil price rally stumbles on inventory data 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. ... more		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

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

Russia confirms January oil production freeze proposal		Schlumberger touts streamlining during downturn		Statoil to explore offshore Ireland		Sponge structure key to mopping up oil spills		Statoil taps first well for early phase of Johan Sverdrup
Kremlin mulling privatization options for oil		Commercial potential for British shale oil		British fracking surveys may address tremors		Iraq oil exports and revenue down in February		Texas shows increase in oil production

Oil surges on China stimulus, Saudi cooperation talk

U.S. gas prices spiking

California blowout led to largest US methane release ever

Weil revives helium industry in Saskatchewan

North Dakota rig count holds steady

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

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