Oil and Gas News

March 16, 2016

Almost half of new U.S. oil from fracking
Washington (UPI) Mar 15, 2016
Nearly half of the oil produced in the United States came as a result of hydraulic fracturing last year, the U.S. Department of Energy said. The department's U.S. Energy Information Administration said hydraulic fracturing of about 23,000 wells in the country in 2000 yielded about 102,000 barrels of oil per day, which at the time was less than 2 percent of the total output. "Even though hydraulic fracturing has been in use for more than six decades, it has only recently been used to prod ... read more

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Oil drifts further away from $40 per barrel Demand uncertainties and continued speculation over production levels pushed crude oil prices into negative territory for the second straight day Tuesday. ... more		Atlantic to be free from drilling With Washington poised to pull the Atlantic Ocean off the oil and gas drilling list, environmentalists declared victory after their hard preservation efforts. ... more		Retail gas prices moving sharply higher A spike in oil prices, coupled with seasonal events at U.S. refineries, means gas prices should increase for consumers, but savings remain, analysis finds. ... more
				IMF sees oil price risk for Algeria The International Monetary Fund warned Algeria's government that deep structural reforms are necessary to buffer against pressure from low oil prices. ... more		Russian oil producer gains foothold in Kurdish Iraq Russian oil producer Gazprom Neft said it was taking a stronger hold over reserves in the Kurdish north of Iraq by assuming control of the area's Sarqala field. ... more

Cairn Energy buoyed by reserves offshore Senegal Scotland-based oil explorer Cairn Energy said Tuesday its reserve estimate was up modestly because of developments off the coast of Senegal. ... more		Russia's Novatek inks 1.09 bn euro Yamal stake sale with China fund Russia's Novatek finalised Tuesday a 1.09-billion-euro ($1.2-billion) deal to sell China's Silk Road Fund a 9.9 percent stake in an Arctic natural gas project whose development has been complicated by Western sanctions against Moscow. ... 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		Electricity, heating most climate-friendly uses for natural gas Rice University researchers have determined a more effective way to use natural gas to reduce climate-warming emissions would be in the replacement of existing coal-fired power plants and fuel-oil f ... more
				OPEC output falls despite Iran return more crude 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. ... more		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

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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		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		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		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

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

Transocean delays rig work		Oil prices drop on weak China data, high supplies		Shell settles debt with Iran		S.Africa to start shale gas exploration		North Dakota losing more rigs
Oil prices up on Chinese optimism		U.S. rig count drops 18 percent		Clinton, Sanders both say they're wary of fracking		Iranian oil headed to Europe		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

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