International news for oil and gas professionals
The newfound abundance of oil and gas unlocked by the shale revolution has yielded increased public scrutiny of the oil and gas industry in the US, bringing with it a host of new challenges and opportunities for constructive collaboration.
US citizens should worry about not benefiting fully from their country's surge in oil production from unconventional resources onshore.
The US could find its light crude oil production growth stymied if it doesn't allow more of it to be exported, speakers warned during the US Energy Information Administration's 2014 energy conference's first day.
US refiners continue to respond to a changed competitive environment with additional investments and aggressive oil product export deals, speakers said during the US Energy Information Administration's 2014 energy conference's opening day.
Countries in the Middle East and North Africa (MENA) are talking more openly about energy subsidy reforms, but governments need to pay closer attention to middle-class consumers' concerns if they expect to make more progress, speakers said during a July 10 forum at the Atlantic Council.
There had been numerous earlier agreements reached to build an Alaska natural gas pipeline.
The American Petroleum Institute issued a new standard specifically aimed at effectively engaging with US communities affected by exploration and development of unconventional oil and gas resources.
On the back of rapid territorial gains by militants of the Islamic State of Iraq and Syria (ISIS) in northern Iraq, ICE Brent oil futures surged in mid-June to a 9-month high of more than $115/bbl.
Fund manager Allan Gray, the largest shareholder in Sydney-based Roc Oil Ltd., has failed in its challenge to the company's proposed $800 million (Aus.) merger with Horizon Oil Ltd., also of Sydney.
The possibility that Venezuela's financial support for energy imports in the region could erode quickly makes it imperative for the Obama administration to adopt a wide range of policies to avoid an energy crisis in the Caribbean and Central America, a recent Atlantic Council report said.
North Dakota production continued to climb in May but new requirements in the state's flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.
If it were an oil producer, the US federal government would look much like Mexico, with output declining while adjacent areas boom.