Oil and Gas News

March 18, 2016

Oil sticking above $40 per barrel
New York (UPI) Mar 17, 2016
Shimmers of economic optimism from the United States and growing support for production caps gave crude oil prices a lift above $40 per barrel Thursday. Brent and West Texas Intermediate, the global and U.S. benchmark prices for crude oil, respectively, rallied strongly Wednesday amid growing support for a cap on output from major oil producers. Russian Energy Minister Alexander Novak, a strong supporter of the production freeze, said a balance between supply and demand would return by l ... read more

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Gulf Keystone Petroleum mulls rocky road Under pressure from low oil prices, Kurdish-focused explorer Gulf Keystone Petroleum said it may start to see its reserve base decline without more spending. ... more		Canada sees new potential for shale gas A federal and provincial study finds a shale natural gas basin in the northwest region of Canada is one of the largest known reserves in the world. ... more		Lower oil prices lead to higher CO2 emissions If the price of oil decreases, carbon dioxide emissions increase. This is what two Spanish scientists claim after comparing the relationship between air pollution and economic development by using t ... more
				Shell, Saudi Aramco split assets The state-controlled Saudi Arabian Oil Co. is taking over assets from a partnership formed 18 years ago, including a Texas refinery, Royal Dutch Shell said. ... more		No more Gulf drilling, advocates say As the Obama administration pulls the Atlantic Ocean off a drilling list, activist backers on the southern U.S. coast said they're wary of Gulf of Mexico plans. ... more

Gazprom Neft expects more oil from Arctic Russian oil company Gazprom Neft said it revised a production schedule to dramatically boost output from a field in the Arctic north of the country. ... more		White House explains Atlantic drilling move Military interests and concerns from coastal communities were factors influencing a decision on drilling in the Atlantic Ocean, a White House spokesman said. ... 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		Statoil and Forum Equity to expand operations to global renewable markets United Wind has announced that it has closed an $8M Series B financing led by Statoil Energy Ventures and Forum Equity Partners. This financing enables United Wind to offer its unique, industry-lead ... more
				Pitching gas against coal Using natural gas instead of coal or oil in electricity generation could have a significant effect on net carbon emissions into the atmosphere. By contrast, the benefits of using natural gas instead ... more		How to get a handle on potential risks posed by fracking fluids The latest skirmishes over hydraulic fracturing in Florida and California are, at their core, about water. Many fracking-related spills have been recorded, and opponents say that such incidents pose ... more

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Oil prices higher on growing interest in production cut Growing support for a coordinated production agreement to stabilize energy markets lifted crude oil prices Wednesday after two straight days of decline. ... more		Kenya yields oil for Tullow Africa-focused energy company Tullow Oil said it made its most significant find yet in a northern Kenyan reserve area not previously known to hold oil. ... 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		Libyan oil output has yet to recover A survey of oil production from Libya shows the country remains far below its peak capacity levels posted more than five years ago, before the Arab Spring. ... more
Almost half of new U.S. oil from fracking 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. ... more		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

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

Cairn Energy buoyed by reserves offshore Senegal		Russia's Novatek inks 1.09 bn euro Yamal stake sale with China fund		Electricity, heating most climate-friendly uses for natural gas		OPEC output falls despite Iran return more crude		Oil off on Iran's reluctance to stem production
Eni makes Barents Sea breakthrough		Shell starts production offshore Brazil		Four tremors recorded in Oklahoma since Sunday		North Dakota rig count continues to sink		Iran welcoming to U.S. energy companies

Crude price gains capped by China

Cathay Pacific net profit soars thanks to dive in oil prices

Chevron starts mega-LNG project in Australia

Oklahoma ramps up earthquake response plans

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

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