More Oil & Gas News

Birol named to IEA executive director post

The International Energy Agency’s governing board confirmed the appointment of Fatih Birol as the agency’s next executive director. Birol succeeds Maria van der Hoeven, who will complete her 4-year term on Aug. 31.

Partners submit Johan Sverdrup development plan

Partners Statoil ASA, Lundin Petroleum AB, Petoro, Det Norske Oljeselskap ASA, and Maersk Oil have submitted a plan for development and operation (PDO) for Phase 1 of Johan Sverdrup field to the Norwegian Ministry of Petroleum and Energy.

MARKET WATCH: NYMEX crude oil price jumps more than $2/bbl

Crude oil prices on the New York market jumped by more than $2/bbl Feb. 12 to settle above $51/bbl, which analysts attributed to more oil and gas companies cutting their budgets as well as an announced ceasefire agreement between Russia separatists and Ukrainian forces.

Apache’s 2015 capital budget less than half of last year’s $8.5 billion

Apache Corp., Houston, plans a capital budget of $3.6-4 billion in 2015, with $2.1-2.3 billion directed toward onshore North America and $1.5-1.7 billion for international and offshore.

Alaska LNG project partners file resource reports with FERC

A series of draft environmental and socioeconomic reports for the Alaska LNG project have been submitted to the US Federal Energy Regulatory Commission, which is responsible for conducting the environmental review of the project.

Total reduces budget by 10% to $23-24 billion

Total SA plans to lower its organic investments to $23-24 billion in 2015 from $26.4 billion in 2014 by reducing spending in brownfield developments and stopping certain projects that it says have become less profitable.

MARKET WATCH: NYMEX crude prices drop back below $50/bbl

The New York Mercantile Exchange March crude oil contract dropped $1.18 on Feb. 11, closing at $48.84/bbl. The April contract dropped $1.15 to $50.93/bbl.

US House vote sends Keystone XL approval bill to Obama’s desk

The US House of Representatives voted by 270 to 152 to pass S. 1, which would deem the proposed Keystone XL crude oil pipeline approved more than 6 years after sponsor TransCanada Corp. applied for its presidential crossborder permit. The Feb. 11 action sends the measure to US President Barack Obama’s desk, where it is likely to be vetoed.

Groups object to White River National Forest draft leasing decision

The Western Energy Alliance, West Slope Colorado Oil & Gas Association, and Public Lands Advocacy jointly filed a formal objection to the US Forest Service’s draft oil and gas leasing decision for the White River National Forest in western Colorado.

Five fatalities, four missing now confirmed following FPSO explosion offshore Brazil

BW Offshore now reports five fatalities—all employees of BW Offshore—and four crew members missing following the Feb. 11 explosion of the Cidade de Sao Mateus floating production, storage, and offloading vessel.

TransCanada challenges EPA’s comments on Keystone XL SEIS

TransCanada Corp. responded to the Feb. 2 comment letter from the US Environmental Protection Agency on the US Department of State’s final supplemental environmental impact statement (SEIS) for the Keystone XL crude oil pipeline.

PNR cuts capital spending nearly in half

Pioneer Natural Resources Co. (PNR), Dallas, plans to spend $1.85 billion in 2015 following a fourth quarter in which the company reported a net income of $431 million. The new budget represents a 45% reduction from 2014 capital spending for continuing operations, a change attributed to low oil prices.

InterOil wins arbitration over rights dispute with Oil Search

The International Chamber of Commerce arbitration panel in London has found in favor of InterOil Corp. in its battle with Oil Search Ltd. over preemptive rights in Elk-Antelope gas field in retention licence PRL 15 onshore Papua New Guinea.

PACE survey finds 69% support for crude exports to trading partners

More than two thirds of registered voters responding in a nationwide telephone survey commissioned by Producers for American Crude Exports (PACE) supported allowing US producers to sell crude to customers in countries that have a trading agreement with the US.

New study finds wide variations in gathering systems’ methane samples

Samples of methane emissions from 114 natural gas gathering stations and 16 processing plants across 13 states found wide variations in amounts actually released, a recent study revealed. Researchers at Colorado State University in Fort Collins, Carnegie Mellon University, and Aerodyne Research took the samples over 20 weeks starting in October 2013.

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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 ...
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