Oil and Gas News

May 04, 2016

U.S. shale oil still facing pressure
Denver (UPI) May 3, 2016
Oil production in key U.S. shale formations declined and, while a recovery in crude oil prices is an incentive, risks do remain, market analysis finds. Platts Analytics finds oil production in the Eagle Ford shale basin in Texas, one of the more productive formations of its kind, declined about 3 percent in March for the eighth straight month of loss. In the Bakken shale in North Dakota, output was down 2 percent from February and on par with the general loss in production. "In 2015, pro ... read more

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BP hands out more contracts for Azeri gas project A BP subsidiary trying to pull gas from offshore Azerbaijan said it doled out a $1.5 billion contract to help get gas flowing within the next two years. ... more		Local fracking bans struck down in Colorado A Colorado Supreme Court ruling enforcing state jurisdiction over oil and natural gas activity has "enormous implications" for the economy, the governor said. ... more		Slowing China pushes oil prices lower Crude oil prices retreated Tuesday for the second straight day after Chinese data showed a contraction in the nation's manufacturing sector. ... more
				Gas prices at six-month highs High consumer demand and a recovery in crude oil prices means U.S. drivers are paying the highest for gasoline in more than six months, market analysis finds. ... more		Statoil increases hold over Lundin Petroleum Norwegian energy company Statoil said it reached a deal to take a larger stake in its Swedish counterpart Lundin Petroleum in an asset swap. ... more

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

Russia's Central Bank keeps rates unchanged Citing the risk of crude oil prices moving lower and lingering inflationary pressures, the Russian Central Bank said Friday it was keeping its key rate steady. ... more		PetroChina posts first quarterly loss since listing PetroChina shares plunged on Friday, after the Chinese energy giant posted its first quarterly loss since listing overseas 16 years ago, as it struggled with the weak domestic economy and lower international oil prices. ... 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		Statoil in mourning after last week's helicopter crash Norwegian energy company Statoil said it was in a state of mourning after 13 employees died when a helicopter crashed after leaving an offshore platform. ... more
				Oil prices start May in the red With some contracts expiring, crude oil prices were volatile early Monday though supply-side pressure emerged again to drag on evolving market dynamics. ... more		Lundin touts green footprint ahead of earnings report Less than two weeks before releasing quarterly earnings, Lundin Petroleum said in a sustainability report its work offshore Norway was among the greenest. ... 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

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

South Korea, Iran eye oil and gas deals South Korea and Iran signed off on more than a dozen proposals, including those tied to oil and gas, as Iran's president touts the value of foreign investments. ... more		Enbridge weighing its options Pipeline company Enbridge said spending for 2016 would be significantly lower than in past years, though it maintained it's positioned well in North America. ... 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)		US top court rejects BP shareholder suit over stock price plunge The US Supreme Court Monday declined to hear a class-action lawsuit by BP shareholders demanding compensation for a sharp fall in share price after the deadly 2010 Gulf of Mexico oil spill. ... more
Halliburton, Baker Hughes merger scrubbed Effective April 30, a merger proposed in late 2014 between oil services companies Baker Hughes and Halliburton has been terminated, the companies announced. ... more		North Dakota showing little rig movement Despite a rally in oil prices of around 30 percent, the number of rigs deployed in shale-rich North Dakota is steady for the fifth straight week, data show. ... more		Crude oil rally knows no limit Strong recovery for U.S. consumer wages balanced against a slowdown in the European economy, but it was enough for a soft rally Friday for crude oil prices. ... more		Oil opposition grows on both U.S. shores Seattle activists who took on Shell offshore Alaska turned their eye to Exxon, while opponents on the east coast raised objections to ongoing energy work there. ... more

	Gulf Keystone Petroleum mulling debt Iraq-focused Gulf Keystone Petroleum said Friday it reached an agreement with bondholders to delay making interest payments while it seeks debt restructuring. ... more		Weatherford says it's ready for anything The top executive at oil services company Weatherford International said he was taking a constructive approach to what he said was a "violent downturn." ... 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

Exxon squeaks out a profit, though Chevron stumbles		Long-term oil shortfall predicted by Wood Mackenzie		Europe critical of Polish shale gas laws		U.S. shale oil down, but not out		Oil running quickly toward $50 per barrel
Schlumberger lands another merger		Saudi Arabia Releases Ambitious Plan To Diversify Economy		NASA Scientists Scrutinize Arctic Gas Flaring Pollution		Unemployment up in Norway's oil economy		Oil still at center of Libyan conflict

Groundwater quality changes alongside expansion of hydraulic fracturing

Hess producing more despite taking a loss

Contamination in North Dakota linked to fracking spills

New oil discovery in Gulf of Mexico

Wood Group lands Azeri deal with BP

Alberta taking climate message to Washington

Oil prices mixed to flat on weak U.S. GDP

One oil field a key culprit in global ethane gas increase

Tullow lowers spending forecast

Oil prices up on expectations of market balance

Demand pulling U.S. gasoline prices higher

Locals rule for Tehran energy conference

Gazprom questions price mechanisms for LNG

Stanford maintains investments in fossil fuels

Alberta defends budget against credit downgrade

BP sees balanced market by year's end

Uganda advancing on oil pipeline developments

Some BG Group offices to close

Saudi king sacks utilities minister amid anger over prices

Long oil rally knows no quarter

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