More Oil & Gas News

MARKET WATCH: NYMEX oil price jumps on EIA’s reduced oil production forecast

The benchmark US crude oil futures price jumped more than $2/bbl on Apr. 8 after the US Energy Information Administration released a report saying government analysts reduced their earlier oil production forecast for this year and next.

Statoil’s oil sands production saw slight decline in 2013

Statoil ASA reported a slight decrease in its oil sands production in 2013 because of a planned multiweek plant shutdown for facility maintenance and the integration of new scientific research and experimental development measures, according to the company’s 2013 Oil Sands Report.

Russia falls to last place in SAFE’s latest Oil Security Index

Russia, which ranked as high as No. 9 in 2005, fell to last place in the most recent quarterly update of the global Oil Security Index (OSI), released by Securing America’s Future Energy (SAFE), the nonpartisan organization dedicated to the reduction of US dependence on foreign oil.

OMV to ramp up drilling in lower Austria

OMV AG reported it will drill as many as 24 wells this year along with 20 wells in 2015 and 2016, respectively, in the Weinviertel region of lower Austria. Fourteen of those projects involve exploration wells with additional production potential, the company said.

Speakers debate states’ oil, gas role at GMU conference

States are better qualified than federal and local governments to regulate hydraulic fracturing and other unconventional oil and gas activities, two speakers agreed at an energy and environment conference at George Mason University’s School of Law. But a third speaker argued that some states’ performances as the primary US oil and gas regulator are unsatisfactory and needs to be reevaluated.

Laclede Group to acquire Alagasco for $1.6 billion

Laclede Group Inc., St. Louis, has entered into an agreement with Energen Corp. to acquire subsidiary Alabama Gas Corp. (Alagasco) for $1.6 billion, with an effective purchase price of $1.34 billion.

MARKET WATCH: Oil futures drop on expected resumption in Libyan supply

Crude oil futures prices fell on New York and London markets Apr. 7 on expectations that two eastern Libyan ports that export oil would be reopened soon, increasing world oil supplies.

Moody’s: Global refining, marketing industry to see earnings rise this year

The global refining and marketing industry will continue to see pockets of earnings growth over the next year, but flat conditions overall, with product demand expected to increase modestly this year by 1.2 million b/d, according to a recent report from Moody’s. That demand increase will be roughly in line with net global capacity additions, Moody’s said.

OIES: US shale gas, tight-oil plays face financial woes

Financial problems of operators in US shale gas and tight oil plays might hold production growth below current expectations, according to the author of a March comment published by the Oxford Institute for Energy Studies (OIES).

White House eyes steps to curb methane emissions from oil, gas operations

The White House announced additional steps to reduce methane emissions from oil and natural gas operations as part of a broader strategy.

Balancing climate change

Instructive timing is at work in the publication this month and last of two major reports in the Fifth Assessment by the Intergovernmental Panel on Climate Change.

The EPA assault

Thank you for your editorial apprising your readers of the Environmental Protection Agency's continued assault on America.

MARKET WATCH: Crude oil futures end week higher

The New York Mercantile Exchange May crude oil contract rose 85¢ on Apr. 4, closing at $101.14/bbl. The June contract gained 83¢ to $100.46/bbl.

Anadarko settles legacy claims against Kerr-McGee for $5.15 billion

Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conveyance allegations brought by the US government and co-plaintiff Anadarko Litigation Trust in the bankruptcy of Tronox Inc.

LNG Ltd. unit appoints top executives

Liquefied Natural Gas Ltd. has named John G. Baguley as chief operating officer and Rick R. Cape as chief commercial officer for the company’s wholly owned, Houston-based subsidiary Magnolia LNG LLC (MLNG). Both executives will report directly to Maurice Brand, MLNG president.

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