Oil and Gas News

December 14, 2016

Not So Prolific: U.S. Shale Faces A Reality Check
London, UK (SPX) Dec 14, 2016
The collapse of oil prices has forced the U.S. shale industry to slash production costs. In order to improve the "breakeven" costs for the average shale well, the industry has deployed three general strategies: improving techniques and technology, such as drilling longer laterals or using more frac sand; focusing drilling on the sweet spots; and demanding lower prices from oilfield service companies. All three of those strategies led to a decline in the breakeven price for a shale wells. But while ... read more

Previous Issues

Dec 13

Dec 12

Dec 09

Dec 08

Dec 07

Rex Tillerson: from oil diplomat to secretary of state As chief of ExxonMobil, Rex Tillerson honed many of the skills inseparable from the exercise of high-level diplomacy: navigating complex geopolitics and pushing tough negotiations with friends and foes around the world. ... more		As oil prices go, so go gas prices, AAA says With crude oil prices on a sustained rally in the wake of deals cut by major producers, U.S. gas prices likely won't decline, analysis finds. ... more		Oil prices up, but gains softening Crude oil prices opened Tuesday in positive territory as the OPEC-fueled euphoria continues, though gains may be softening as a limit starts to emerge. ... more
				Russia to study Iranian oil fields Iran and Russia tightened their embrace in the energy sector through an agreement to study the prospects for oil fields near the Iraqi border, directors said. ... more		No free oil rides, IEA says Production agreements from some of the top oil nations in the world don't necessarily mean the return to the glory days of $100 oil, a Paris-based agency said. ... more

Leaked BP report reveals safety lapses: Greenpeace British oil giant BP faces safety shortfalls at its operations that could spark serious accidents, according to a leaked internal report published Tuesday by Greenpeace. ... more		Oil recovery may be emerging in North Dakota If state records are accurate when measured against industry data, the rig count in North Dakota gained significant ground after a weekend OPEC agreement. ... 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		I'll solve the Dakota Access pipeline question: Trump If it's not "solved" by the time he's scheduled to take office in January, the U.S. president-elect vowed quick action on the Dakota Access oil pipeline. ... more
				New lead aids development of super premium gasoline In contradicting a theory that's been the standard for over eighty years, researchers at the University of Illinois at Urbana-Champaign have made a discovery holding major promise for the petroleum ... more		Rosneft deal shielded from sanctions Russian media sources said last week's deal for the acquisition of shares of oil company Rosneft is outside the reach of Western-backed economic sanctions. ... more

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

Finance sector warms to fossil fuel divestments: study Global funds are signalling plans to pull out of fossil fuel investments at a significant pace, a study showed Monday, one year on from the Paris Agreement to tackle global warming. ... more		Oil prices surge on yet another OPEC maneuver Crude oil prices soared to historic highs in early Monday trading in response to a weekend production agreement reached between OPEC and non-OPEC members. ... 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		Leviathan gas field start date approved Partners behind one of the larger natural gas fields off the coast of Israel unveiled plans to start formal production operations in roughly three years. ... more
Eni brings another partner to Egyptian gas giant Italian energy company Eni said it was selling off a stake in an Egyptian gas field to a Russian company to help bring quick monetary success to the project. ... 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		Nerves enough to send oil prices higher Anticipation building over a weekend meeting between OPEC members and other producers helped lift oil prices in early trading Friday, though doubts remain. ... more		Texas drilling permits lower than last year State regulators in Texas said they issued 2 percent fewer oil and gas drilling permits in November than last year, though signs of recovery are emerging. ... more

	Only two OPEC members posted production declines Venezuela and Saudi Arabia were the only two OPEC members showing production declines, highlighting challenges ahead for a production deal, Platts reported. ... more		White House raises eyebrow over Rosneft deal An $11 billion deal with a Russian oil producer, commodity trader Glencore and a Qatari sovereign fund may be under sanctions review, the White House 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

Wood Mac: Mixed bag for oil and gas exploration next year		Russia's stance on OPEC meeting seems fluid		U.S. oil producers lifted by OPEC action		Oil prices get lift on signs of balance		Trump under fire over environment pick
Oklahoma seeing gains from higher oil prices		Russian oil producers loosely in line with OPEC		Chevron outlines cut in exploration and production spending		Global consortium buys majority of UK gas business		Venezuela says Russia played key role with OPEC

Texas energy overseer drafts five-year plan

U.S. rig count increased more than 6 percent

One of the world's largest gas fields gets stimulus package

Oil prices sink for second consecutive day

Iran anticipates arrival of European energy representatives

British PM joins Gulf summit for post-Brexit trade talks

Cuban oil program accelerating

FMC, Technip merger latest in a trend

Oil prices crash as reality sets in

Statoil: Producers should play role in climate fight

More help coming to Afghan energy sector

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

Buy Advertising

Media Advertising Kit

Editorial & Other Enquiries

Privacy statement

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.