Oil and Gas News

March 15, 2016

OPEC output falls despite Iran return more crude
Vienna (AFP) March 14, 2016
OPEC said on Monday its oil production fell in February despite member Iran steadily increasing its output after international sanctions were lifted in January following a landmark nuclear deal. The decrease can be largely attributed to a steep production drop in Iraq, which has suffered from the global price slump for crude and rival oil exports by the autonomous Kurdistan region, the Organization of the Petroleum Exporting Countries said in its February monthly report. Crude output dropped by ... read more

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Mar 09

Oil off on Iran's reluctance to stem production Caveats to a proposed freeze in oil production from Iran pushed crude oil prices sharply lower, moving Brent to below $40 per barrel after last week's rally. ... more		Eni makes Barents Sea breakthrough Italian energy company Eni said Monday its start to oil production in the Goliat field is the first in the Norwegian waters of the Barents Sea. ... more		Shell starts production offshore Brazil Royal Dutch Shell said Monday it started production from the third and final phase of operations in the deep waters off the coast of oil-rich Brazil. ... more
				Four tremors recorded in Oklahoma since Sunday Five seismic events were reported by the U.S. Geological Survey in Oklahoma in the last 24 hours as the state works to stem incidents tied to oil and gas work. ... more		North Dakota rig count continues to sink Despite last week's rally in crude oil prices, North Dakota continued to witness a decline in exploration and production activity, state data show. ... more

Iran welcoming to U.S. energy companies Energy companies with U.S. headquarters are welcome to do business in Iran, though sanctions may be prohibitive, the country's oil minister said. ... more		Crude price gains capped by China Oil prices rose Wednesday but renewed concerns over the global economy, in particular weak Chinese growth, capped gains. ... 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		Cathay Pacific net profit soars thanks to dive in oil prices Hong Kong flag carrier Cathay Pacific said net profit almost doubled last year as tumbling oil prices slashed fuel costs and boosted passenger numbers, although global demand dented the cargo unit. ... more
				Chevron starts mega-LNG project in Australia Chevron said Tuesday it started up its $54 billion Gorgon liquefied natural gas project in Australia, boosting its market prospects for the Asia-Pacific. ... more		Oklahoma ramps up earthquake response plans The Oklahoma state government announced it expanded plans to curb wastewater injection volumes to lower the risk of seismic activity in oil and gas basins. ... more

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Transocean delays rig work Offshore rig company Transocean said Tuesday payments and delivery for five new drilling rigs was now delayed following an agreement with its contractor. ... more		Oil prices drop on weak China data, high supplies Oil prices fell Tuesday on weak Chinese trade data and skepticism about the prospects of major petroleum producers agreeing to limit output. ... 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		Shell settles debt with Iran Royal Dutch Shell said it was able to pay off its debt to its Iranian counterparts, though that was not necessarily indicative of an imminent market move. ... more
S.Africa to start shale gas exploration The South African government said Tuesday that exploration for shale gas will begin in the next 12 months, ending years of speculation over the project. ... more		North Dakota losing more rigs The number of rigs in active service in North Dakota, the No. 2 U.S. oil producer, declined from last week despite the recovery in crude oil markets. ... more		Oil prices up on Chinese optimism China again pushed market momentum, with weekend economic pledges spilling over to Monday and lifting crude oil prices near the $40 per barrel mark. ... more		U.S. rig count drops 18 percent From January to February, the number of rigs working on exploration and production activities in the United States dropped 18 percent, Baker Hughes reported. ... more

	Clinton, Sanders both say they're wary of fracking Both candidates for the Democratic U.S. presidential nomination said they do not support the drilling practice behind the shale oil and gas boom. ... more		Iranian oil headed to Europe The Iranian Oil Ministry said Monday a tanker of crude oil was on its way to Europe for the first time since sanctions eased after July's nuclear deal. ... 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

Nigeria breaks up state oil company		S.Sudan oil production pollution threatens thousands: monitors		Build contracts awarded for European gas pipeline		Greenpeace: Russia has no appetite to control oil spills		Gazprom gets loan from Bank of China
Class-action suit filed against Chesapeake, SandRidge		Oil edges up on production meetings in Moscow		Board supervisor at OMV steps down		Oil weakness catching up with Texas		Woes emerge after Aliso Canyon gas leak stopped

Eni expands capacity in Iraqi oil

Deloitte brass to help lead Hess

Iraqi-focused Genel feeling market strains

Oil drifts lower again on inventory data

1,000 barrels of oil spilled in Russia's far east

Oil price rally stumbles on inventory data

Shell faces fresh Nigeria pollution claims in London

Canada's Nexen reducing headcount

Exxon notes flexibility of investments

Tullow Oil may do OK, Moody's says

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

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