More Oil & Gas News

EIA: China promotes AFVs, fuel efficiency to curb rising oil demand

The Chinese government is adopting a broad range of policies, including improvements of fuel efficiency and the promotion of alternative-fuel vehicles (AFVs), to curb the country’s escalating oil demand and oil imports, according to an analysis of the US Energy Information Administration.

Encana improves Montney shale IP rates; may sell more gas assets

Encana Corp. has increased initial production rates by about 75% in its Montney shale drilling program.

Romanian government expected to raise royalties in 2015

Romania’s current royalty rates range between 3.5% and 13% (averaging between 7% and 8%), and this number is likely to increase in 2015.

House panel’s Republicans seek information about DOE’s SPR management

US House Energy and Commerce Committee Republican leaders requested a meeting with US Sec. of Energy Ernest J. Moniz and other appropriate officials concerning management of the US Strategic Petroleum Reserve as the summer driving season approaches.

Senators to Obama: Exercise restraint on LNG exports

A bipartisan group of 22 US senators, led by Energy and Natural Resources Committee member Debbie Stabenow (D-Mich.) and Foreign Relations Committee member Edward J. Markey (D-Mass.), urged US President Barack Obama to consider possible impacts on American manufacturing and families that rely on natural gas for heat when looking to approve new LNG export facilities.

MARKET WATCH: Crude oil futures up on Russia-Ukraine uncertainty

Crude oil futures prices climbed on the New York and London markets on May 12 upon concerns that additional Western sanctions against Russia could hinder the volume of Russia’s oil exports. Crude markets have been volatile since Ukraine’s Crimea region annexed to Russia earlier this year.

Jonah Energy completes $1.8 billion purchase of Jonah field assets

Jonah Energy LLC, a Denver-based TPG Capital affiliate, has completed the acquisition of Jonah field operations in Sublette County, Wyo., from Encana Oil & Gas Inc., a wholly owned subsidiary of Encana Corp., for $1.8 billion, effective Dec. 1, 2013.

Statoil farms out more interest offshore Angola

Statoil ASA has farmed out 5% participating interest in the Eni SPA-operated Block 15/06 offshore Angola to Sonangol EP for $200 million.

MARKET WATCH: Crude oil futures down in New York, London

The New York Mercantile Exchange June crude oil contract price declined 27¢ on May 9, closing at $99.99/bbl. The July contract dropped 23¢ to settle at $99.31/bbl.

RIL, partners press India over gas price

Reliance Industries Ltd. and partners have issued a notice of arbitration seeking action by the government of India on the price of natural gas produced from the deepwater KG-D6 block in the Bay of Bengal.

GAO report lists ways BLM could improve onshore resource oversight

Updated guidance, increased coordination, and comprehensive data could improve the US Bureau of Land Management’s oversight of federal onshore oil and gas resources, the Government Accountability Office said in a report it released on May 9.

OTC: BP optimistic about America's energy renaissance, Mingé says

The top executive of BP America Inc. remains optimistic about the continuing energy renaissance taking place in the US.

OTC: Oil spill prevention a global issue, DOE says

Oil spill prevention in the deepwater Gulf of Mexico and around the world is an international challenge where nations must work together to avoid another major incident, said Christopher Smith, principal deputy assistant secretary at the US Department of Energy, during a May 6 panel discussion at the Offshore Technology Conference in Houston.

Women in oil and gas

The number of women attending the Offshore Technology Conference technical and keynote sessions has risen during this reporter's few decades of covering the annual event.

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International news for oil and gas professionals

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