More Oil & Gas Exploration and Development News

What's sustainable?

Nov 17, 2014

Sustainability is eternally important and perpetually enigmatic. It's like justice: widely seen as embodying transcendent value yet defined in disparate ways.

More climate leaders

Nov 17, 2014

Presidents Barack Obama of the US and Xi Jinping of China asserted international leadership in the politics of climate change by announcing on Nov. 12 new targets for cuts in their countries' emissions of greenhouse gases.

Obama determined to let Keystone XL review process 'play out'

Nov 17, 2014

US President Barack Obama reiterated his stance on Nov. 5 that the proposed Keystone XL crude oil pipeline's ongoing cross-border permit review process should be allowed to proceed amid suggestions that Republicans winning majority control of the Senate in elections a day earlier opens the way for congressional legislation on the matter to reach his desk.

Mexico moving quickly to implement energy reforms, officials report

Nov 14, 2014

Mexico is moving quickly to implement its aggressive energy reforms, two officials of its government told a conference at the Woodrow Wilson International Center for Scholars. “My office has a very tight schedule where we’ll publish all the terms for the first shared contracts by the end of this month, and into next year,” said Maria de Lourdes Melgar Palacios, hydrocarbons undersecretary in the country’s hydrocarbons secretariat.

Statoil exits two Northern Territory permits

Nov 14, 2014

Norway’s Statoil AS has pulled out of two exploration permits in the southern Georgina basin onshore Northern Territory.

Norske Shell finds gas with Ormen Lange appraisal well

Nov 14, 2014

Norske Shell found a 28-m gas column with an appraisal well in Ormen Lange field, the Norwegian Petroleum Directorate reported.

BP Egypt, partners to invest $240 million in Egyptian blocks

Nov 13, 2014

BP Egypt and its partners have committed to investing $240 million in two exploration blocks awarded by Egyptian Natural Gas Holding Co. (Egas) in its 2013 bid round.

Eco Atlantic completes 3D seismic survey offshore Namibia

Nov 13, 2014

Eco (Atlantic) Oil & Gas Ltd. has completed 1,097 sq km 3D seismic work on its Cooper block in the Walvis basin offshore Namibia. PGS Geohysical Ltd. (PGS) shot the survey and is now in the processing stage.

Tullow cuts exploration budget amid falling oil prices

Nov 13, 2014

Falling crude oil spot prices have caused South Africa’s Tullow Oil PLC to cut its 2015 exploration and appraisal budget to about $300 million, placing more emphasis on development and production assets.

Investors await Mexico’s Round One bid terms

Nov 10, 2014

Investors and oil companies expect Mexico to release its bid terms any day now for its upstream bid round, Mayer Brown energy partner Dallas Parker and associate Gabriel Salinas said in a recent interview with Oil & Gas Journal.

Group makes second oil find offshore Senegal

Nov 10, 2014

The group comprised of Cairn Energy, ConocoPhillips, and FAR Ltd. has made a second oil discovery offshore Senegal with the SNE-1 wildcat well.

WoodMac: High WCS-WTI price spread seen lingering

Nov 10, 2014

Growing production of Canadian heavy crude oil and problems delivering the new supply to distant markets will keep the discount of Western Canadian Select crude high against the West Texas Intermediate price, according to Wood Mackenzie.

Watching Government: Looking beyond transparency

Nov 10, 2014

More transparency is essential to improve resource governance, speakers suggested at a Nov. 4 Brookings Institution discussion. But much more is needed, they quickly agreed.

Induced seismicity research effort identifies information gaps

Nov 10, 2014

A federally coordinated effort to determine whether oil and gas activities are related to growing reports of induced seismic activity has identified several information gaps that need to be closed, speakers said during an Oct. 30 briefing at the US Energy Association.

Report for API quantifies new technologies' 2013 US economic benefits

Nov 10, 2014

Innovations in hydraulic fracturing and horizontal drilling that have driven the energy renaissance in the US were responsible for about 48% of the nation's crude oil production and shaved as much as 94¢/gal off of fuel prices in 2013, according to a recent report commissioned by the American Petroleum Institute.

Market Connection

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Refinery Units and Equipment for Sale (PA)

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