Oil and Gas News

April 28, 2016

Long-term oil shortfall predicted by Wood Mackenzie
Houston (UPI) Apr 27, 2016
Global supply-side pressures could reverse within 20 years as low crude oil prices crimp spending on exploration and production, Wood Mackenzie finds. For the fifth week in a row, oil services company Baker Hughes reported a decline in rig activity in North America, with a 2 percent drop to 431. Last year's count for the week ending April 22 was 932. Lower oil prices means less capital is available for energy companies to invest in exploration and production activity. If that situation d ... read more

Previous Issues

Apr 27

Apr 26

Apr 25

Apr 22

Apr 21

U.S. shale oil down, but not out A U.S. congressional researcher said some shale oil companies in the country will rebound as oil prices recover, though output will remain under pressure. ... more		Oil running quickly toward $50 per barrel Oil prices are running toward $50 per barrel, up nearly 60 percent from 2016 lows, as more data surfaces to support a push away from supply side pressures. ... more		NASA Scientists Scrutinize Arctic Gas Flaring Pollution Flaring of waste natural gas from industrial oil fields in the Northern Hemisphere is a potential source of significant amounts of nitrogen dioxide and black carbon to the Arctic, according to a new ... more
				Oil still at center of Libyan conflict With oil again acting as kindling for conflict in Libya, the U.N. mission there reminded all parties to respect the sanctity of the nation's economic lifeline. ... more		Hess producing more despite taking a loss Even as it reported a loss for the first quarter of the year, U.S. energy company Hess Corp. said it was producing more from its U.S. assets than in late 2015. ... more

Space Tech Expo - Design - Build - Test - Pasadena CA - May 24-26, 2016

New oil discovery in Gulf of Mexico Otto Energy Ltd., a company with headquarters in Australia, said it made an oil discovery in the Gulf of Mexico that was productive enough to keep drilling. ... more		Alberta taking climate message to Washington Facing pressure from low oil prices, Alberta's premier said the province is now leading the fight against climate change and taking that message to Washington, D.C. ... more		New U.S.-European Sea Level Satellite Will Help Safeguard Ships at Sea Planet captures first light from Pelican-3 satellite as constellation expands Trump signs memorandum to deploy U.S. National Guard troops to Memphis		One oil field a key culprit in global ethane gas increase A single U.S. shale oil field is responsible for much of the past decade's increase in global atmospheric levels of ethane, a gas that can damage air quality and impact climate, according to new stu ... more
				Oil prices up on expectations of market balance Anticipation about the pace of the global economy and expectations Tuesday of a return to balance added more fuel to the fire growing in support of oil prices. ... more		Demand pulling U.S. gasoline prices higher Consumer demand for gasoline is pushing the price at the pump higher for Americans, though it remains low historically speaking, retail analysis finds. ... more

Human 2 Mars Conference May 17-19 2016 - Washington DC

Transition from Operations to Decommissioning by Preparing a Safe, Cost-Effective Shut Down and Waste Management Strategy

The World's Largest Commercial Drone Conference and Expo - Sept 7-9 - Las Vegas

Directed Energy And Next Generation Munitions - 20-22 June - Washington DC

Locals rule for Tehran energy conference Iranian media reports local companies outnumber the number of foreign entities registered to attend an oil and natural gas conference in May in Tehran. ... more		Gazprom questions price mechanisms for LNG Russian energy company Gazprom said liberalizing the market for liquefied natural gas means contractual talks with China are under threat. ... more		Beijing company sets new thrust record in rocket engine test China deploys Yaogan 45 satellite on Long March 7A rocket The 10-Point Seasonal HVAC Checklist Every Homeowner Should Follow (and Why Each Item Matters)		Stanford maintains investments in fossil fuels The board of trustees at Stanford University said it was maintaining an investment portfolio of fossil fuels despite growing support for a low-carbon economy. ... more
Alberta defends budget against credit downgrade The provincial government in Alberta said its budgetary house is in order enough to handle the pressures from low oil prices despite a credit downgrade. ... more		BP sees balanced market by year's end With lower spending on tap for the year, British energy company BP said the market could return to a healthy balance between supply and demand by year's end. ... more		Uganda advancing on oil pipeline developments A statement from the government in Uganda said a decision was made by a regional consortium to build a crude oil pipeline through Tanzania. ... more		Some BG Group offices to close Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. ... more

	Saudi king sacks utilities minister amid anger over prices The king of Saudi Arabia has sacked the country's water and electricity minister, Abdullah al-Hussayen, amid public anger over price hikes, state media reported. ... more		Long oil rally knows no quarter The long rally in oil prices continued into Monday even after a report from the International Monetary Fund said another market downturn cannot be ruled out. ... more

North Korea declares nuclear statehood 'permanently enshrined'

ArianeGroup to develop next-generation M51.4 missile for French nuclear deterrent

Comtech modem earns first sovereign certification for SES O3b mPOWER network

North Dakota rig count unchanged		Shell tight-lipped on claims it's leaving Gabon		Australian gas market gets monopoly review		Oil spill fears in Italian Riviera port		Schlumberger revenue takes nose dive
Oil prices rise to highest level in 5 months		U.S. gasoline demand soars		New contracts surface for struggling Transocean		Fossil fuels could be phased out worldwide in a decade		Innovative Exeter research pioneers nanotechnology for gas sensing

Economists: Texas handling oil slump well

Austrian energy company OMV sees oil production increase by 1 percent

Oil rally struggles to gain traction

Wood Group notches another North Sea success

Sanctions uncertainty hinders investor return to Iran

Australia's Woodside searching for silver lining

Oil output down for U.S. shale company Sanchez

Study sank $1.3 bn refinery project with China: Costa Rica

Kremlin says it won't politicize Yukos ruling

Another setback for Transocean

Oil lower after Kuwaiti strike ends

New work for struggling field services company Aker

Eni renews focus on Algerian renewables

Washington seeks Gulf special force, naval cooperation

Kuwait's oil production increasing

Last thing Ecuador needed was quake, after oil bust

U.S. energy economy diversified, White House says

Statoil looking to new technology to save costs

Earthquake may have been manmade, more data needed

Kuwaiti strike pulls oil prices higher

Buy Advertising

Media Advertising Kit

Editorial & Other Enquiries

Privacy statement

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.