More Oil & Gas News

Statoil’s Lund to join BG Group as chief executive officer

BG Group has appointed Helge Lund as chief executive officer and as an executive director, effective Mar. 2, 2015. Lund has served as president and CEO of Statoil ASA since 2004.

MARKET WATCH: NYMEX, Brent oil futures plunge

Crude oil prices dipped by more than $3/bbl on both the New York and London markets Oct. 14, which analysts attributed to stagnant world oil demand growth. US light, sweet crude settled Oct. 14 under $82/bbl.

BLM Rock Springs office seeks comments on proposed gas project

The US Bureau of Land Management’s Rock Springs field office is seeking public comments on a proposal to develop up to 17 natural gas wells on as many as 5 well pads about 35 miles northwest of Baggs, Wyo., in Sweetwater County.

Study: EPA overlooks large methane sources

Methane inventories by the US Environmental Protection Agency, which underlie efforts to regulate emissions from hydraulic fracturing and other oil and gas work, overlook other, potentially larger sources of the greenhouse gas, a study by Los Alamos National Laboratory (LANL) suggests.

IEA reduces global oil demand forecast again on slower economic growth

The International Energy Agency’s Oil Market Report (OMR) for October continues to reduce its forecast of global oil demand for 2014 by 200,000 b/d from the previous month, to 92.4 million b/d, in line with lower expectations of economic growth and the weak recent trend.

Woodside farms into offshore Cameroon block

Woodside Petroleum Ltd., Perth, has farmed into the Tilapia production-sharing contract offshore Cameroon under an agreement with Glencore and Noble Energy Inc.

Northeast Australia gas line link contemplated

The Northern Territory government has put its weight behind a proposal to build an Alice Springs-to-Moomba natural gas pipeline. This would link the Northern Territory fields with the Moomba hub in South Australia that already has connections to Queensland, New South Wales, and (indirectly) Victoria.

Skea to be president of Energy Institute

Jim Skea, professor of sustainable energy at the Centre for Environmental Policy, Imperial College, is president-elect of the Energy Institute, London. He will be nominated for appointment to the position at the group’s annual general meeting in June 2015.

Gazprom, CNPC sign technical agreement on cross-border section

OAO Gazprom and China National Petroleum Corp. have signed a technical agreement for the cross-border section Power of Siberia natural gas trunkline.

MARKET WATCH: NYMEX, Brent crude oil prices down again

Crude oil prices settled lower on the New York market and in London Oct. 13 while dropping yet again in early Oct. 14 trading after the International Energy Agency reduced its forecast for global oil-demand growth for 2014.

CNPC, Rosneft advance Tianjin refinery project

China National Petroleum Corp. (CNPC) and OAO Rosneft have signed an agreement for the extension of strategic cooperation on the Tianjin joint venture refinery project in northern China.

BlueGreen Alliance calls for strong US methane reduction strategy

The BlueGreen Alliance, a coalition of 10 national labor unions and 5 environmental organizations, urged the Obama administration to adopt a strong methane reduction strategy with the US oil and gas industry as a major component.

Petronas purchases share in Shah Deniz for $2.2 billion

Malaysia’s Petronas has purchased a 15.5% share in the Shah Deniz production-sharing agreement in Azerbaijan from Statoil ASA.

MARKET WATCH: November crude prices buck trend, end week up slightly

The New York Mercantile Exchange November crude oil contract gained 5¢ on Oct. 10, closing at $85.82/bbl. The December contract, meanwhile, dropped $1.48 to settle at $85.11/bbl.

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