More Oil & Gas News

Goodlatte reintroduces bills to repeal, reform RFS

Calling it “a true ‘kitchen table’ issue,” US Rep. Bob Goodlatte (R-Va.) reintroduced a pair of bills to address problems in the federal Renewable Fuels Standard. HR 703 would eliminate the RFS outright, while HR 704 would end the RFS’s corn-based ethanol quotas and bar the US Environmental Protection Agency administrator from approving introduction of gasoline with more than 10% ethanol.

MARKET WATCH: NYMEX oil drops, ending 4-day rally

Crude oil prices dropped on the New York market Feb. 4 to settle below $50/bbl and to end a 4-day rally after a weekly government report showed oil and product supplies climbed more than analysts had expected.

Alberta’s premier seeks more North American energy integration

Better policy integration and cooperation will be needed for Canada, Mexico, and the US to fully realize the North American energy renaissance’s potential, Alberta Premier Jim Prentice said. Unfortunately, trends are leading more toward fragmentation and confrontation, he warned.

Deloitte studies oil supply growth for 2015-16

A Deloitte MarketPoint analysis suggested large-field projects, each producing more than 25,000 b/d, could bring on 1.835 million b/d in oil supply this year of which 635,000 b/d would be from members of the Organization of Petroleum Exporting Countries and the rest from non-OPEC productions.

Oil, gas infrastructure investments essential, House panel told

Investments in oil and gas transportation and storage should move ahead because they are essential in continuing the US economic recovery and North American energy renaissance, witnesses told a US House Transportation and Infrastructure subcommittee.

Petrobras CEO, five other senior executives resign

Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA (Petrobras) since 2012, has resigned along with five other senior executives.

MARKET WATCH: NYMEX crude oil prices reach 2015 high

Crude oil prices surged more than $3/bbl on the New York market Feb. 3, closing at the highest level so far this year, but some analysts believe the oil price rout might not be over yet. One analyst said the Feb. 4 release of the weekly US government report on oil and product inventories would prove interesting.

Chevron unit farms into Mauritania offshore blocks

Chevron Mauritania Exploration Ltd., a wholly owned subsidiary of Chevron Corp., has agreed to acquire 30% nonoperated working interest in Blocks C8, C12, and C13 offshore Mauritania from Kosmos Energy Ltd., Dallas.

Saetre named Statoil president, CEO

Eldar Saetre has been named president and chief executive officer of Statoil, succeeding Helge Lund, who resigned in October.

BG’s 2015 budget ‘significantly lower than 2014’

BG Group plans capital expenditures on a cash basis of $6-7 billion in 2015, a range it says is “significantly lower than 2014” due to “a lower oil price environment.”

BP trims capital budget by $4-6 billion

BP PLC plans an organic capital expenditure of $20 billion in 2015, down from the previous guidance $24-26 billion. Total organic capital expenditure in 2014 was $22.9 billion, lower than its initial guidance of $24-25 billion.

EPA suggests DOS reconsider Keystone XL climate impact conclusions

The US Department of State might want to reconsider its conclusions regarding potential climate impacts from the proposed Keystone XL crude oil pipeline because crude oil prices have fallen so dramatically, a US Environmental Protection Agency official suggested.

IHS sees second-half end of US output surge

Expectations are moderating about growth of oil production in the US this year.

Anadarko reports 2014 loss, remains upbeat about Wattenberg

Anadarko Petroleum Corp. announced a 2014 net loss of $1.75 billion, or $3.47/share diluted, including a net loss of $4.05 billion associated with the settlement of litigation involving its subsidiary, Tronox Inc., yet company executives remained upbeat about production growth.

CNOOC cuts capital budget, starts production from Jinzhou 9-3

CNOOC Ltd. is slashing its capital budget for 2015 by 26-35% to $11.25-12.86 billion compared with last year’s budget. Capital expenditures for exploration, development, and production respectively account for 21%, 67%, and 10% of the budget.

Market Connections

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 ...
Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corporate mission is to help feed the world affordable, wholesome food by supplying superior goods and services to the leading commercial food producers worldwide. The company owns the world's largest methionine plant located at Chocolate Bayou, Texas and is in the early stages of building another plant at a site on the gulf coast of Texas or Louisiana.

Sr. Process Engineers

Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corpora...
Offshore Catering Jobs Available. Offshore Experience Required. Cooks, UTs (Housekeeper/Janitorial), Bakers (Pastry Chefs), Executive Stewards. How to Apply: www.essgulf.com

Offshore Catering Jobs Available

Offshore Catering Jobs Available. Offshore Experience Required. Cooks, UTs (Housekeeper/Janitorial), Bakers (Pastry Chefs), Executive Stewards. How...
Kuwait Institute for Scientific Research Now hiring

Now Hiring

NOW HIRING THE FOLLOWING POSITIONS: 1. Research  Scientist(Heavy Oil Program) Qualification: Ph.D. in petroleum geophysics, petroleum engin...
Transocean

Are You Ready to Unlock Your Potential?

WE UNLOCK POTENTIAL. Our mission is to unlock the world’s natural resources from the deepest parts of the ocean. We know it takes a team of driven,...
Stay Connected