Oil and Gas News

December 08, 2016

U.S. rig count increased more than 6 percent
Houston (UPI) Dec 7, 2016
With oil prices recovering from yearly lows, oilfield services company Baker Hughes said there was an increase in U.S. exploration and production activity. Baker Hughes reported an average 580 rigs in service in the United States in November, up 36, or 6.6 percent, from the previous month. That followed a 3.3 percent, or $2 per barrel, jump in November prices for West Texas Intermediate, the U.S. benchmark price for crude oil. WTI is holding above the $50 per barrel mark since members of ... read more

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Venezuela says Russia played key role with OPEC Russia was pivotal in the decision last week by members of OPEC to agree to a production ceiling starting in January, Venezuela's oil minister said. ... more		Texas energy overseer drafts five-year plan The newly-minted head of a Texas oil and gas commission said her focus over the next five years was to lower the economic burden for the industry. ... more		One of the world's largest gas fields gets stimulus package An estimated $1 billion in assistance will help Azerbaijan develop its flagship Shah Deniz complex in the Caspian Sea, the Asian Development Bank said. ... more
				Oil prices sink for second consecutive day Crude oil prices recorded a second straight day of steep declines Wednesday as data suggest supply-side pressures building in spite of OPEC's best efforts. ... more		Iran anticipates arrival of European energy representatives Iranian media reported Wednesday a delegation from Austrian energy company OMV is en route to Tehran to explore stronger energy ties with the Islamic republic. ... more

British PM joins Gulf summit for post-Brexit trade talks British Prime Minister Theresa May was to join Gulf Arab leaders at a summit in Bahrain on Tuesday for talks on trade after Britain's exit from the European Union. ... more		Cuban oil program accelerating A Cuban-focused oil company said it was taking a closer look at the business climate there with the goal of accelerating its drilling program next year. ... 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		FMC, Technip merger latest in a trend FMC Technologies and Technip, two companies working to assist with oil and gas exploitation, became the latest in the industry to agree to a merger. ... more
				Oil prices crash as reality sets in Growing sentiment Tuesday that the rally in crude oil prices will lead to more appetite for production helped put an end to an OPEC-fueled run for the bulls. ... more		Statoil: Producers should play role in climate fight Norwegian energy company Statoil said the fight against climate change depends in large part on how oil and gas companies conduct business. ... more

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

Develop commercial strategies for the global deployment of SMRs and Advanced Reactors

More help coming to Afghan energy sector More than $400 million in grants will help Afghanistan increase access to reliable sources of energy, the Asian Development Bank said. ... more		Iran says it can sell as much oil as it wants Iran can sell as much crude oil as it wants to thanks in part to a multilateral nuclear agreement that eased crippling sanctions, the country's president said. ... 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		Gas prices follow the price of oil higher U.S. gasoline prices are rising alongside oil prices that rallied on the back of an OPEC production deal, though retail analysts are questioning the duration. ... more
BP keeping focus on North Sea British energy company BP said it was embarking on a drilling campaign in the southern waters of the North Sea that could uncork a new natural gas reserve. ... more		Iranian MPs declared victory with OPEC deal Members of the Iranian parliament said Monday they signed a letter of appreciation that, in effect, declared victory with last week's OPEC production deal. ... more		Rally in oil prices knows no quarter With few short-term factors standing in the way of bullish market sentiments, crude oil prices continued their steady march past $55 per barrel early Monday. ... more		Once-mighty Chesapeake continues divestment streak Once one of the stronger shale gas companies in the United States, Chesapeake Energy said it closed on a $450 million deal to sell some of its shale acreage. ... more

	Li Ka-shing's Cheung Kong targets Australia's Duet Li Ka-shing's Cheung Kong Infrastructure on Monday offered Aus$7.3 billion (US$5.4 billion) for an Australian energy group, just months after his bid for the country's largest electricity network was blocked on security grounds. ... more		Fate of North Dakota pipeline may fall to Trump Native Americans and their supporters expressed cautious optimism Monday after the US Army nixed plans for a controversial oil pipeline crossing in North Dakota, with many fearing their victory could be short lived. ... 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

Kurdish government short on oil export payments		Dakota Access Pipeline partnership cries foul		Manmade earthquakes in Oklahoma on the decline		Shale state of Oklahoma says 'thank you' to OPEC		U.S. wants more up-front talks on planning for oil and gas drilling
Statoil starts work at its largest asset in British North Sea		French company reconfigured gas supply contracts		Oil prices sputter out of the gates after historic rallies		Iran takes note of foreign investors		Senegal primed as one of the next big oil players

Oil-rich Russia sees economic growth ahead

Gas prices steady after OPEC deal

OPEC deal more about balance than price

Israeli power to get gas from huge offshore field

Dallas Fed sees broad-based optimism

Talk of OPEC deal sends oil prices skyrocketing

Dutch court rejects lawsuit over Ivory Coast spill

A debut of sorts for Norwegian oil

More LNG exports possible from U.S. ports

Baker Hughes creates new fracking unit

Canada walks oil pipeline tightrope

Canada approves tripling capacity of Trans Mountain pipeline to Pacific

Why Mexico's Oil Reform Is A Huge Opportunity For Investors

Oil prices sink as volatility takes hold

Texas oil production holding steady

Taliban pledge protection for Afghan gas pipeline

Putin steps back into OPEC production fray

Norway reports mixed results for oil and gas salaries

BP builds up North Sea portfolio

Oil-rich Alberta nearing end of recession

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