More Oil & Gas News

India making ‘significant efforts’ to diversify crude oil imports

Indian companies have made “significant efforts” to diversify their crude oil supply sources, according to India’s Press Information Bureau.

US should be ready if Petro Caribe tightens credit terms, study says

The possibility that Venezuela’s financial support for energy imports in the region could erode quickly makes it imperative for the Obama administration to adopt a wide range of policies to avoid an energy crisis in the Caribbean and Central America, a recent Atlantic Council report said.

MARKET WATCH: NYMEX crude oil drops below $100/bbl on higher Libyan production

Crude oil prices dropped nearly $1/bbl on both the New York and London markets in July 15 trading with oil settling on the New York market at under $100/bbl on reports that Libya’s oil production was growing faster than expected.

Swift, Saka complete Eagle Ford development deal

Swift Energy Co., Houston, completed its agreement with PT Saka Energi Indonesia to fully develop 8,300 acres of Fasken properties in the Eagle Ford in Webb County, Tex.

US refiners pursue more overseas product sales, EIA forum told

US refiners continue to respond to a changed competitive environment with additional investments and aggressive oil product export deals, speakers said during the US Energy Information Administration’s 2014 energy conference’s opening day.

North Dakota flaring reduction policy may impact January production

North Dakota production continued to climb in May but new requirements in the state’s flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

EIA conference speakers warn of US light crude oil’s ‘day of reckoning’

The US could find its light crude oil production growth stymied if it doesn’t allow more of it to be exported, speakers warned during the US Energy Information Administration’s 2014 energy conference’s first day.

MARKET WATCH: Crude oil futures fall on mixed geopolitical signals

Crude oil prices settled lower on the New York and London markets July 14 after weekend reports that Iraq’s parliament was unable to agree on a new speaker, which could delay attempts to remedy insurgency in Iraq.

Rosneft ups stake, takes over operatorship of Solimoes project

OAO Rosneft reported that the Brazilian government has approved a transaction that would give Rosneft an additional 6% in a joint venture in the Solimoes basin for $96 million. The transaction would give Rosneft 51% interest and operatorship in the JV.

OGUK welcomes ‘urgently needed’ tax consultation

Oil & Gas UK said it welcomes “urgently needed” formal consultation announced July 14 by HM Treasury into the future of the UK offshore oil and gas tax regime.

Rosneft to acquire assets for $500 million from Weatherford in Russia, Venezuela

OAO Rosneft has signed agreements to acquire land drilling and workover assets in Russia and Venezuela from Weatherford International PLC for $500 million cash.

MARKET WATCH: Crude oil markets close week lower in New York, London

Crude oil markets closed out the week ended July 11 lower in both New York and London.

Whiting to acquire Kodiak in $6 billion deal

Whiting Petroleum Corp. has agreed to acquire Kodiak Oil & Gas Corp., both of Denver, in an all-stock transaction valued at $6 billion, creating the largest Bakken-Three Forks producer with more than 107,000 boe/d of first-quarter production, 855,000 combined net acres, and 3,460 net future drilling locations.

Woodside farms into Beach’s Tanzania permit

Woodside Petroleum Ltd. has farmed into Beach Petroleum Ltd.’s wholly owned and logistically intriguing inland offshore permit in Lake Tanganyika, Tanzania.

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