Oil and Gas News

December 09, 2016

Oil prices get lift on signs of balance
New York (UPI) Dec 8, 2016
A rebound in crude oil prices was softened somewhat by decisions from the European Central Bank, but found support Thursday from more signs of balancing. Crude oil prices declined for two consecutive sessions as traders sifted through the details of a decision last week from members of the Organization of Petroleum Exporting Countries to hold output at 32.5 million barrels per day starting in January. Some members, like Nigeria and Libya, are exempt from the deal, while Iran, one of OPEC's main ... read more

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Trump under fire over environment pick President-elect Donald Trump came under fire Thursday for picking a global warming skeptic as his new environment chief, ahead of a visit to the American Midwest that helped him win the White House. ... more		Chevron outlines cut in exploration and production spending Chevron said its spending plans next year for exploration and production should be about 15 percent lower as market pressures endure for the company. ... more		Russian oil producers loosely in line with OPEC Russian oil companies have warmed to an OPEC decision on production levels, but only in very loose terms, the Russian energy minister said. ... more
				Global consortium buys majority of UK gas business Companies from Australia, China and Qatar have purchased a majority stake in the gas distribution business of Britain's National Grid, the group announced on Thursday. ... more		U.S. oil producers lifted by OPEC action Some oil producers in the United States are expected to see gains as oil prices recover on the back of OPEC's output agreement, Platts reports. ... more

Oklahoma seeing gains from higher oil prices Oklahoma's economic footing has improved with the recovery in oil prices, though there are still lingering effects of the downturn, the state treasurer said. ... more		Moody's: A few 'ifs' for Iran's budget plans Iran's budget plans for the post-sanctions era are supportive of growth, but a Trump administration and oil prices could present obstacles, Moody's 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		U.S. rig count increased more than 6 percent With oil prices recovering from yearly lows, oilfield services company Baker Hughes said there was an increase in U.S. exploration and production activity. ... 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		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

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

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		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		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
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		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		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

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

Iran says it can sell as much oil as it wants		Gas prices follow the price of oil higher		BP keeping focus on North Sea		Iranian MPs declared victory with OPEC deal		Rally in oil prices knows no quarter
Once-mighty Chesapeake continues divestment streak		Li Ka-shing's Cheung Kong targets Australia's Duet		Fate of North Dakota pipeline may fall to Trump		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

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