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Statoil to trim up to 2,025 jobs by yearend 2016

Statoil ASA reported a “next phase” of workforce reductions affecting as many as 1,500 employees and 525 consultants in the next 18 months.

Poor BIA management has hindered tribal energy development, GAO says

The US Bureau of Indian Affairs does not have data it needs to verify ownership of some Indian oil and gas resources, easily identify resources available for lease, or identify where leases are in effect, the Government Accountability Office said.

MARKET WATCH: NYMEX oil prices edge up on tropical storm threat in gulf

Crude oil futures for July delivery dropped modestly on the New York market June 15 to remain below $60/bbl, but prices were edging up again in early trading June 16 as Tropical Storm Bill developed in the Gulf of Mexico and headed toward Texas.

US crude export debate increasingly geopolitical, EIA conference told

The ongoing debate over whether more US crude oil exports should be authorized has more in common with conditions in the 1980s when supplies were ample and prices were low than the 1970s when supplies were tight and prices were high, a leading market observer said.

Merged Houston oil and gas firm skips interest payment

Sabine Oil & Gas Corp., Houston, which drills for oil and gas in Texas and Louisiana, has decided to skip a $21 million interest payment and enter a 30-day grace period to either make the payment or slip into a debt default.

Cairn India to merge with Vedanta

Cairn India Ltd. plans to merge with Vedanta Ltd. in a transaction expected to close in early 2016.

Recognize industry know-how in US Arctic policies, API officials urge

US Arctic oil and gas policies should recognize the industry’s extensive global Far North experience and technology, American Petroleum Institute officials said. “If we don’t use this knowledge, other Arctic nations will move to the forefront of energy development there,” API Upstream Operations Director Erik Milito told reporters at a June 12 briefing.

MARKET WATCH: NYMEX crude oil prices drop below $60/bbl

Crude oil futures for July delivery fell to less than $60/bbl on the New York market June 12 after trading in a tight range pivoting around $60/bbl recently. A tropical weather system developing in the Gulf of Mexico could influence energy prices this week.

Political, technical problems seen for energy-subsidy reform

Fossil-energy subsidies receive more talk than action, too much of it politically opportunistic.

Watching Government: Change in Saudi Arabia?

International observers are still considering the extent, if any, of changes since Salman bin Abdulaziz Al Saud became Saudi Arabia's king in January. Most aren't ready to issue declarations just yet.

ANGA says industry using latest technology to protect water

Industry is committed to making continuous improvements and using the latest technology to recycle water and use nonpotable water, Marty Durbin, president and chief executive officer of America's Natural Gas Alliance, said in response to a government agency's draft about water and hydraulic fracturing.

NGSA: Downward pressure expected on gas prices this summer

Despite expectations for record-setting summer demand, pressure on this summer's natural gas prices is likely to be downward compared with summer 2014, the Natural Gas Supply Association said in its 15th annual Summer Outlook assessment of the natural gas market.

EPA draft assessment finds no widespread harm to drinking water from fracturing

The US Environmental Protection Agency released a draft assessment June 4 of a study in which it concluded hydraulic fracturing activities have not led to widespread, systemic impacts on drinking water resources, although the agency said potential water vulnerabilities exist.

E&Y: US firms' capex, revenues, reserves up again in 2014, but cuts loom

US oil and gas companies reported increases across the board in capital expenditures, revenues, and reserves in 2014 as oil prices nearly halved during the second half, according to an annual oil and gas reserves study conducted by Ernst & Young unveiled in Houston on June 3.

A hundred-year Hail Mary?

Comparing it to a can't-look-away train wreck, Reuter's financial columnist James Saft, in a June 2 article, viewed the recent issue of 100-year bonds by Petroleo Brasiliero SA (Petrobras) with unmasked disdain. His position is defensible.

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North Atlantic Refining

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Now Hiring: Refinery Manager. NARL Refining Limited Partnership (“NARL Refining” or the “Company”) owns and operates a 115,000-barrel-per-day oil r...
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