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Mexico's evolving fiscal terms

Mexico's energy reform has launched an ambitious process to end the long-standing state oil monopoly, holding the promise to increase oil production and bolster the overall economy.

RWE Dea, LetterOne agree on revised sale valued at €5 billion

RWE AG, Hamburg, and LetterOne Group, Luxembourg, have agreed to complete the sale of RWE Dea in its entirety by early March, at latest, for €5 billion based on current exchange rates.

MARKET WATCH: NYMEX falls more than $2/bbl on OPEC forecast

Crude oil prices fell by more than $2/bbl on the New York market Jan. 15 while Brent prices dropped by about $1/bbl after the Organization of Petroleum Exporting Countries issued a monthly report in which OPEC reduced its 2015 estimated OPEC oil demand.

Range cuts 2015 capital budget to $870 million

Range Resources Corp., Ft. Worth., has reduced its capital budget for 2015 to $870 million from the previously reported $1.3 billion, which already represented an 18% cut compared with the 2014 budget.

Conoco’s Lance calls for repeal of US crude oil export ban

The US crude export ban that was imposed in 1975 should be repealed 40 years later to ensure the US oil and gas renaissance continues, ConocoPhillips Chief Executive Officer Ryan Lance said.

In lower price environment, Tullow Oil writes off $2.7 billion

Reviewing assets in a declining oil-price environment, Tullow Oil PLC reported pretax write-offs totalling $2.7 billion.

 

Mexico infrastructure seen as inadequate for future demand

Mexico needs to expand its midstream and pipeline systems to handle anticipated future demand as the nation reforms its energy policy and opens oil and gas development to foreign investors, Georgina Kessel, Mexico’s former secretary of energy, told a Mayer Brown LLP breakfast in Houston on Jan. 14.

MARKET WATCH: NYMEX, Brent crude oil prices rally

Crude oil prices rallied on the New York and London markets Jan. 14 rising more than $2/bbl, and US light, sweet crude oil prices settled higher than Brent crude oil prices, which has been rare in recent years.

QP, Shell abandon plans for Al Karaana petrochemicals complex

Qatar Petroleum and Royal Dutch Shell PLC have canceled plans to proceed with development of the proposed Al Karaana petrochemicals complex in Ras Laffan Industrial City, north of Qatar.

Suncor cuts capital budget by $1 billion (Can.) and 1,000 jobs

Suncor Energy Inc., Calgary, is cutting $1 billion (Can.) from its 2015 capital spending program and reducing its workforce by 1,000 because of lower crude oil prices.

Energy minister says oil-price slump will have no impact on UAE’s economy

The slump in oil prices will have no impact on the economy of the United Arab Emirates, says the UAE’s energy minister.

MARKET WATCH: NYMEX oil prices continue to fall on rise in US inventory

Prices for US light, sweet crude oil fell modestly on the New York market Jan. 13, reaching the lowest front-month price since April 2009 while Brent crude oil for February delivery closed at less than $47/bbl—Brent’s lowest settlement since March 2009—on the London market on Jan. 13.

EIA: Continued global oil stock build to keep pressure on oil prices

In its most recent monthly Short-Term Energy Outlook (STEO), the US Energy Information Administration reported it expects global oil inventories to continue to build in 2015, keeping downward pressure on oil prices.  

OGUK: Major tax changes urgently needed

Oil & Gas UK said falling oil prices are creating an urgent need for fundamental changes to the tax regime.

BlackPearl cuts 2015 capital budget to $31 million (Can.)

BlackPearl Resources Inc., Calgary, is reducing its 2015 capital budget to $31 million (Can.) from $80 million (Can.) “as a result of the continued deterioration in crude oil prices,” the firm said.

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Kuwait Institute for Scientific Research Now hiring

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Sodexo is Hiring Cooks, Bakers, Housekeeping & Janitorial Workers

Sodexo is Hiring Cooks, Bakers, Housekeeping & Janitorial Workers Full benefit package Must be able to work any shift, day, night and weekends,...
Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering Program at the rank of associate or full professor, with an anticipated starting date of July 1, 2015. Texas A&M at Qatar is a partnership with Qatar Foundation, and it is based in a state-of-the-art, 595,000 square foot building that was completed in 2007.

Chair of the Petroleum Engineering Program

Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering ...

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