Oil and Gas News

May 05, 2016

OMV signs agreement with Iranian counterpart
Tehran (UPI) May 4, 2016
Austrian energy company OMV said Wednesday it made the first steps toward resuming operations in Iran after signing an agreement with a national oil entity. OMV signed a memorandum of understanding in Tehran with the National Iranian Oil Co. to asses the field potential at several developments in western Iran. The arrangement also includes consideration for crude oil and petroleum product trades. "This memorandum of understanding is an important first step in resuming OMV's activities in ... read more

Previous Issues

May 04

May 03

May 02

May 01

Apr 29

Why China Is Really Dictating the Oil Supply Glut Ship tracking data from Bloomberg shows that 83 supertankers carrying around 166 million barrels of oil are headed to China, which has stockpiled an impressive 787,000 barrels a day in the first q ... more		Noble Energy sells off Colorado shale holdings Selling off parts of its shale holdings in Colorado means a better chance to strengthen the balance sheet for the year, Noble Energy said. ... more		Shell still working to navigate weak market Spending plans for 2016 are less than the combined spending guidance between Shell and BG Group two years ago, the Dutch supermajor said Wednesday. ... more
				ENGIE shakes up staff to adapt to new market French energy company ENGIE announced Wednesday it shook up its front-office staff in an effort to revamp the company to align with emerging market trends. ... more		Oil prices recover after two straight days of loss An increase in Russian oil production and price expectations balanced against shortages in Canada sparked by wildfires, pushing oil higher early Wednesday. ... more

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

DNO gets boost from Kurdish oil exports A string of regular export payments from the Kurdish government in Iraq means the funds are there to start a drilling campaign, Norwegian company DNO said. ... more		Encana cutting costs with little impact on output After declaring a loss for the first quarter, Canadian energy company Encana said it as working to cut overall costs by more than $400 million. ... more		No picnic: How to survive a bear encounter; as Japan battles spike in attacks COP30: Indigenous peoples vital to humanity's future India mega-zoo in spotlight again over animal acquisitions		U.S. shale oil still facing pressure 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. ... more
				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

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

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		Closest-ever view of planet-forming disk captured around distant star AI-developed controller directs satellite in pioneering in-orbit maneuver Saturn's icy moon may host a stable ocean fit for life, study finds		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
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		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		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

New satellite operations centre planned for Germany to support EU constellation

N. Korea warns of more 'offensive action' after latest missile launch

Sudan army says intercepts drone attack on key southern city

Enbridge weighing its options		US top court rejects BP shareholder suit over stock price plunge		Halliburton, Baker Hughes merger scrubbed		North Dakota showing little rig movement		Crude oil rally knows no limit
Oil opposition grows on both U.S. shores		Gulf Keystone Petroleum mulling debt		Weatherford says it's ready for anything		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

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