More Oil & Gas News

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.

Eni acquires deepwater blocks offshore Egypt

Eni SPA will resume exploration offshore Egypt under concession agreements based on production sharing it has signed covering two deepwater blocks offered in Egyptian Natural Gas Holding Co.’s 2013 bid round.

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The US crude export ban that was imposed in 1975 should be repealed 40 years later to ensure the US oil and gas renaissance continues, ConocoPhillips Chief Executive Officer Ryan Lance said.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

 

White House orders steps to curb oil and gas methane emissions

The Obama administration set a new goal to cut methane emissions from the oil and gas sector from 2012 levels by 40–45% by 2025, and a set of actions to put the US on a path to achieve this goal. Trade associations across the industry reiterated earlier statements that regulations would try to solve problems which already are being addressed.

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.

Newfield Exploration to retain assets in China

Newfield Exploration Co., The Woodlands, Tex., has concluded its marketing process for its China business and now plans to retain the assets. The business will be reclassified for financial purposes as “continuing operations” in fourth-quarter 2014.

Vincent to retire as Swift Energy president

Houston independent Swift Energy Co. reported that Pres. Bruce H. Vincent has announced his retirement effective Feb. 15, along with his resignation as a board member. Vincent has served as president of Swift Energy since November 2004 and as a Swift energy director since May 2005, having first joined the company in 1990.

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.

Shell mulls fate of Malaysian refinery

Shell Refining Co. (FOM) Bhd. (SRC), a holding of Royal Dutch Shell PLC, is evaluating either the potential divestiture or closure of its 125,000-b/d Port Dickson, Malaysia, refinery.

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.

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NOW HIRING: QHSSE. Miami, FL, Overland Park, MO or Plymouth, MN.

 

Director of Technical Services: The Gas Processors Association, an international trade association, has an opening for an engineer to assume the duties of Director of Technical Services.  GPA is based in Tulsa, Oklahoma and has been the primary advocate for the midstream energy industry since 1921.  The position requires leadership of the technical and research activities of GPA and the midstream energy industry.  Knowledge of gas treating and processing together with good communication, writing and interpersonal skills is essential.  In addition, candidates must have analytical and technical aptitude for chemistry, math and physics.  A Bachelor of Science in chemical or mechanical engineering is preferred.

NOW HIRING: Director of Technical Services

Director of Technical Services: The Gas Processors Association, an international trade association, has an opening for an engineer to assume the du...
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...
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