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European refiner squeeze seen in W. African crude changes

Aug 27, 2014

European refining is pivotal in “a second wave of structural changes” pummeling West African (WAF) crude oil prices in response to growing production of light oil in North America, notes a report from the Oxford Institute for Energy Studies, London.

WoodMac: Norway’s 10 billion bbl of undeveloped resources could net $106 billion

Aug 27, 2014

Norway holds 10 billion boe of discovered but undeveloped natural resources, of which 60% could be commercialized and potentially add $106 billion to the country’s revenues, Wood Mackenzie reported in its latest upstream estimates released Aug. 26 at the Offshore Northern Seas conference in Stavanger.

Verma named managing director at India’s ONGC Videsh

Aug 27, 2014

India’s ONGC Videsh Ltd. has named Narendra Verma its managing director. Verma’s previous positions include director of exploration of Maharatna ONGC and director of exploration for ONGC Videsh.

CNRL files OSCA application with AER for Grouse oil sands project

Aug 27, 2014

Canadian Natural Resources Ltd. has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Grouse steam-assisted gravity drainage (SAGD) project.

MARKET WATCH: NYMEX prices climb ahead of US oil supply drop

Aug 27, 2014

Crude oil prices rose modestly on the New York market Aug. 26 ahead of the weekly government oil inventory report while analysts correctly anticipated a drop in US oil and product supplies although the statistics showed a bigger decline than expected.

ExxonMobil Pipeline settles charges from 2012 Louisiana spill

Aug 27, 2014

Exxon Pipeline Co. agreed to pay more than $1.4 million to resolve federal charges that a 2012 spill from the company’s North Line near Torbert, La., violated the Clean Water Act, the US Department of Justice and Environmental Protection Agency jointly announced.

Parsley Energy adds Permian basin acreage

Aug 26, 2014

Parsley Energy Inc., Midland, Tex., has agreed to buy from “multiple sellers” undeveloped and productive acreage in Reagan County, Tex., for a total of about $252 million.

MARKET WATCH: NYMEX crude oil prices slip pending inventory report

Aug 26, 2014

Crude oil futures prices slipped modestly on the New York market Aug. 25, and analysts said traders expected a weekly government oil report scheduled for release Aug. 27 to show a gain in supplies at the hub at Cushing, Okla.


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