More Oil & Gas News

Golden Pass partners let contract for LNG export facility

Golden Pass Products LLC (GPP), a Houston-based joint venture of units of Qatar Petroleum International and ExxonMobil Corp., has let a front-end engineering design services contract to CB&I and partner Chiyoda Corp. for a proposed LNG export project at an existing import terminal in Sabine Pass, Tex.

Eni signs PSCs for onshore Myanmar blocks

Eni SPA has signed production-sharing contracts for two blocks in Myanmar with the country’s Ministry of Energy.

MARKET WATCH: NYMEX, Brent oil futures prices both dip

Front-month crude oil futures prices settled lower on the New York market July 30, reaching their lowest closing since July 15, and continued the downward pattern in early trading on July 31.

DOE unveils initiative to curb methane emissions from US gas systems

The US Department of Energy announced an initiative to reduce methane emissions from natural gas systems nationwide following a series of roundtables with stakeholders. The measures are part of the Obama administration’s larger methane emissions reduction strategy to fight causes of global climate change, DOE said.

BOEM adds 15 days to 2017-22 OCS leasing program’s comment period

The US Bureau of Ocean Energy Management said it would allow 15 additional days for public comments on its request for information and comments on preparation of its 2012-17 US Outer Continental Shelf oil and gas leasing program.

PwC: 2Q oil and gas M&A activity strongest in 5 years

The US oil and gas industry experienced a substantial rise in mergers and acquisitions during the second quarter, according to a quarterly report by PwC US Energy Practice.

Rosneft, PDVSA sign agreements for offshore projects

OAO Rosneft and Petroleos de Venezuela SA (PDVSA) have signed a cooperation agreement for offshore projects in the Rio-Caribe and Mejillones blocks, the second stage of the Mariscal Sucre gas project

Oando completes purchase of Nigeria assets from ConocoPhillips

Oando Energy Resources (OER), a Calgary-based subsidiary of Oando PLC, has completed its acquisition of the Nigeria upstream business of ConocoPhillips for $1.5 billion.

MARKET WATCH: Oil, product prices mixed pending US inventory report

Crude oil and product futures prices were mixed on the New York and London markets on July 29 as US and Europe jointly announced broader sanctions against Russian businesses in retaliation for Russia’s involvement in the ongoing unrest in Ukraine.

Hess looks to form Bakken midstream MLP

Hess Corp. reported that it will pursue the formation and initial public offering of a midstream master limited partnership (MLP) that would support the company’s production growth in the Bakken shale.

House approves bill to reform the Endangered Species Act

The US House of Representatives passed a bill that would reform the Endangered Species Act for the first time in 26 years.

API issues new standard for subsea capping stacks

The American Petroleum Institute has published new guidelines for the design, manufacture, and use of subsea capping stacks. The equipment is part of the oil and gas industry’s emergency preparedness in the event of a subsea spill at a wellhead, API said.

Templar Energy to acquire Granite Wash assets for $588 million

Templar Energy LLC, Oklahoma City, has agreed to purchase Granite Wash assets from Newfield Exploration Co., Houston, for $588 million, effective July 1. The deal is expected to close in the third quarter.

WoodMac: Wolfcamp spending could surpass that of Bakken by 2017

Activity in the Wolfcamp shale is expanding and, by as early as 2017, could overtake the Bakken in tight oil spending, according to analysis on the West Texas play from Wood Mackenzie.

Study examines return-investment balance

Europe and Africa are the regions under greatest scrutiny by major oil and gas companies trying to tighten capital discipline in response to pressure to improve shareholder returns, concludes a new report by Wood Mackenzie.

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