Oil and Gas News

November 28, 2016

BP builds position in one of Egypt's biggest gas fields
London (UPI) Nov 28, 2016
British energy company BP said it was strengthening its position in the Egyptian oil and gas market by buying a minority stake in an offshore natural gas field. Subject to approval from the Egyptian government, BP said it spent $375 million to take a 10 percent concession in the Shorouk complex from Italian energy company Eni. The Zohr gas field, the largest discovery made in the Mediterranean Sea, is within the area in question. "This interest in a truly world-scale asset will complemen ... read more

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Oil prices in rally mode on OPEC rumors Oil prices were moving in wild swings in early Monday trading, erasing a 5 percent deficit overnight as investors moved quickly on the latest OPEC utterances. ... more		Russia to review oil, gas work in Barents Sea Six years after resolving border disputes in the Barents Sea, a Russian minister said he scheduled a meeting in Oslo to discuss oil and gas work with Norway. ... more		Russian oil producer pushes deeper in Arctic Russian oil producer Gazprom Neft said it was starting sea trials for a vessel meant to support oil work, including spill response, in extreme Arctic climates. ... more
				Putin staying out of OPEC talks Russian President Vladimir Putin is deferring to his energy minister to discuss the potential for a production agreement with OPEC, his spokesman said Monday. ... more		Iran inks agreement with oilfield services company Schlumberger A new arrangement with oilfield services company Schlumberger is a source of optimism for post-sanctions Iran, a managing director said from Tehran. ... more

More drilling planned for super giant Norwegian oil field Consent is given to energy company Statoil to start drilling an appraisal well in the Johan Sverdrup oil field in the North Sea, the Norwegian government said. ... more		Thanksgiving gas prices are the lowest in years U.S. travelers leaving early on Wednesday to get a head start on the holiday will see some of the lowest gas prices in nearly a decade, the government said. ... more		Ancient zircon data reveals tectonic origin of Earth's first continental crust Autonomous sub explores unexplored trench depths to reveal critical mineral clues Europe launches first geostationary atmospheric sounder to boost extreme weather forecasts		Australian energy company rewarded for Cuban oil efforts An Australian energy company that's one of the few foreign companies working in Cuba said it was rewarded for its efforts with a contract extension. ... more
				New energy alliance focused on Gulf of Mexico Independent energy producers focused on the U.S. Gulf of Mexico announced coordination around an alliance aimed at advancing the industry's needs in Washington. ... more		Norway's oil and gas investments on the decline Investment plans for oil and gas developments offshore Norway are on the decline and should remain low even with new projects on tap, government data show. ... more

6th Annual Modular Construction Summit for Oil and Gas Agenda - December 7-9 - Houston

Oil prices move lower on OPEC questions, Autumn Statement Crude oil prices apparently found the direction they were looking for Wednesday, moving lower amid uncertainty about the impact of OPEC maneuvering. ... more		Mixed bag for frontier oil reserves offshore Liberia A division of Exxon Mobil announced Wednesday it started drilling its first well targeting reserves off the coast of Liberia. ... more		UK opens competitive bid for GBP 75 million orbital cleanup mission UK invests $191 mn in European satellite firm Eutelsat Bearings Used in Space Technologies: Engineering for the Final Frontier		Polluted water in hand, Nigerian king takes Shell to court in London King Emere Godwin Bebe Okpabi holds up a plastic bottle containing contaminated water from his community in Nigeria, proof of oil pollution that he blames on Royal Dutch Shell - and on which he hopes a London court will deliver justice. ... more
Where Russia's Lukoil sees oil prices going Russian oil company Lukoil said during a meeting of the board of directors its two-year budget starting in 2017 would be based on oil priced at $40 per barrel. ... more		Eni ups renewable ante through work with GE Italian energy company Eni said Tuesday it would work through a partnership with General Electric to build a stronger portfolio in the renewable energy sector. ... more		More reserves uncovered in Barents Sea Swedish energy company Lundin Petroleum said Tuesday it made an oil and gas discovery in a frontier area near an existing field in the Barents Sea. ... more		Crude oil prices searching for OPEC direction Crude oil prices staged an abrupt retreat in early trading Tuesday as doubts lingered over OPEC coordination. ... more

	Whiting Petroleum leaving North Dakota gas behind After recording a steep decline in third quarter revenue, Whiting Petroleum said it was selling off parts of its natural gas business in North Dakota. ... more		Iraq has to up oil output because of 'budget hole': FM Iraq has to up its crude output because dwindling oil prices and the fight against Islamic State have left "a huge hole" in the economy, Foreign Minister Ibrahim al-Jaafari said Tuesday, as the OPEC cartel scrambles to agree a production cut deal. ... more

London, Paris tighten nuclear bond over US, Russia concerns

Iran says cooperation with UN nuclear watchdog will take 'new form'

Six killed in massive Russian drone, missile attack across Ukraine

Amnesty International steps into Dakota Access pipeline row		Commercial production started at giant Kashagan oil field		Bangladesh gets help with gas assets		Oil prices rally on production proposal support		Iran sees a 25 percent recovery in crude oil prices
Where oil-rich Texas sees economic gains		Police respond to 'riots' at Dakota Access pipeline; protesters report tear gas		More oil coming from the North Sea		Putin sees few problems with freezing oil production		Donald Trump will save us, Colorado oil and gas advocates say

Some tough choices for Alberta's oil-based economy

How Iran and Russia are locking step on oil

Let's consider freezing oil production, Russia says

Oil prices start Friday in hesitant rally

GE, Maersk team up on drilling technology

Last plea to Obama on offshore drilling limits

Are The Saudis About To Reveal The Best Kept Secret In Oil?

Texas' Wolfcamp shale reserve may be largest ever assessed in U.S.

Why Norway adds to supply-side worries

Obama declares parts of Arctic off-limits for oil drilling

Iraqi firefighters battle to tame IS oil well fires

Study Finds Widespread Land Losses from Gulf Oil Spill

Expect more output next year, Canadian energy company says

Russia stirs oil production proposal pot

OPEC, Yellen give oil prices a lift

Safety regulator finds no issues with Johan Sverdrup

North Dakota oil production falls

Dakota Access pipeline delayed

Investment penury risks new oil shock: IEA

Niger Delta Avengers strike again

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