More Oil & Gas News

Shell bows out of Kidan gas project in Saudi Arabia

Royal Dutch Shell PLC confirmed it will bow out of the Kidan natural gas development project in Saudi Arabia’s Empty Quarter.

Mongolian petroleum law passage aims to boost foreign investment

Wolf Petroleum Ltd., Perth, reported the passing of a new petroleum law in Mongolia designed to boost foreign investment in the country.

Golden Pass files formal FERC application for LNG project

Golden Pass Products LLC, Houston, has submitted a formal application with the US Federal Energy Regulatory Commission to construct and operate its proposed LNG project at the existing Golden Pass LNG import facility in Sabine Pass, Tex.

MARKET WATCH: NYMEX crude, gas futures settle lower

Crude oil prices on the New York market declined in trading July 7 as did natural gas futures prices on forecasts for cooler temperatures in the US Midwest and Northeast for 6-10 days.

Wintershall to farm in to Luno II lease offshore Norway

Wintershall Norge AS has agreed to acquire 15% interest in production license 359 (PL359), which encompasses the Luno II discovery, from Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB.

IOC names chairman, director of refineries

A.M.K. Sinha has been named chairman of Indian Oil Corp. Ltd. He succeeds R.K. Malhotra, who retired after a brief stint as chairman.

US industrial gas use seen up 19% by 2020

New projects will boost industrial use of natural gas in the US during 2012-20 by 19%, according to the Center for Energy Economics (CEE), part of the Bureau of Economic Geology at the University of Texas at Austin.

MARKET WATCH: Crude oil futures end shortened week trading lower

The New York Mercantile Exchange August crude oil contract lost 42¢ on July 3, closing at $104.06/bbl. The September contract declined 40¢ to $103.51/bbl. Markets were closed on July 4 for a holiday in the US.

Warren Resources to enter Marcellus with assets purchase

Warren Resources Inc., New York, has agreed to acquire the Marcellus assets of Citrus Energy Corp., Castle Rock, Colo., along with two additional working interest owners for $352.5 million, effective July 1.

Woodside signs farm-in for permits offshore Morocco

Woodside Petroleum Ltd. has finalized a farm-in agreement with independent firm Chariot Oil & Gas Ltd. for a position in the Doukkala basin offshore northwest Morocco.

Inside BLM's RMP revamp

The US Bureau of Land Management announced on May 5 that it was beginning to review how it develops its resource management plans (RMPs).

Gore shares stage with opponent of Aussie carbon tax

When governments meddle in energy markets, strange things happen—such as an appearance by Al Gore with a coal magnate at a press conference announcing opposition to carbon taxation.

Linn to purchase acreage from Devon for $2.3 billion

Linn Energy LLC, Houston, has agreed to acquire assets in five US operating areas from Devon Energy Corp., Oklahoma City, for $2.3 billion, effective Apr. 1.

CO2 is not carbon

In a speech on July 17, 2008, former US Vice-President Al Gore challenged the nation "to commit to producing 100% of our electricity from renewable energy and truly clean carbon-free sources within 10 years."

Unipetrol buys out Eni for ownership of Czech refining company

Unipetrol AS has exercised its right of preemption to acquire soon-to-be former partner Eni SPA’s interest in Ceska Rafinerska AS (CRC), a refining company in Czech Republic.

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