More Oil & Gas News

MARKET WATCH: NYMEX oil climbs back above $100/bbl

Crude oil futures on the New York market climbed above $100/bbl for the first time in a week on Mar. 26. The momentum continued in early Mar. 27 trading as two US government agencies issued positive economic indicators that could mean higher oil demand, analysts said.

EPA leads investigation of crude discharge at BP Whiting refinery

The US Environmental Protection Agency took formal charge of investigation and cleanup efforts after an undetermined amount of crude oil spilled into Lake Michigan from BP PLC’s Whiting, Ind., refinery.

EIA: China exceeds US as the largest net petroleum importer

In September 2013, China’s net imports of petroleum and other liquids exceeded those of the US on a monthly basis, making it the world’s largest net importer of crude oil and other liquids, according to the US Energy Information Administration.

EIA: Tight oil production pushes US supply to more than 10% of world’s total

US tight oil production averaged 3.22 million b/d in the fourth quarter of 2013, pushing overall US crude oil production to more than 10% of the world’s total production, up from 9% in fourth-quarter 2012, according to the US Energy Information Administration.

MARKET WATCH: NYMEX oil futures drop with HSC partially reopened

Crude oil prices fluctuated but ended the New York trading session down modestly Mar. 25 after the US Coast Guard reopened the Houston Ship Channel to limited traffic during daylight hours while cleanup efforts continue on an oil spill off Texas City, Tex.

Total, InterOil close Papua New Guinea deal

InterOil and Total SA have finalized a revised sales and purchase agreement for the Elk-Antelope gas-condensate field in petroleum retention licence 15 (PRL15) in the eastern highlands of Papua New Guinea.

LNG exports’ immediate geopolitical impacts limited, senators told

Direct geopolitical impacts from the US authorizing LNG exports more quickly would be limited, witnesses told a US Senate committee. But global market consequences could be substantial because it would send a definite signal that the country is committed to becoming a major player, which potentially could accelerate changes indirectly, they added.

WoodMac: US tight-oil market ‘too robust to bust’

A drop in global oil price levels or a significant widening of the differential between global oil prices and inland realizations are just two of the ways the North American tight-oil boom could go bust, according to a recent analysis from Wood Mackenzie.

Gorder named Valero chief executive officer

Joe Gorder, Valero Energy Corp. president and chief operating officer, has been named chief executive officer, succeeding Bill Klesse.

Double Eagle changes name, appoints chief executive officer

Double Eagle Petroleum Co., Denver, has appointed Charles F. Chambers to the position of chairman and chief executive officer, effective Apr. 1. As part of the transition, the company is changing its name to Escalera Resources Co., also effective Apr. 1.

MOL closes purchase of North Sea assets from Wintershall

MOL Group, Budapest, has completed its transaction with Wintershall, Kassell, Germany, in which MOL acquires offshore assets with 14 licenses in the North Sea for $375 million.

MARKET WATCH: Oil futures climb on Texas oil spill, Ukraine concerns

Oil prices climbed on the New York market Mar. 24, which analysts attributed to concerns about a temporary closure of the Houston Ship Channel and worries about tensions between Russia and Ukraine.

Financial questions seen for US shale gas, tight-oil plays

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).

DOE approves LNG exports to non-FTA countries from Oregon project

The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Oregon’s coast to countries that do not have a free-trade agreement with the US.

Watching Government: Alaska's ANWR reminder

Alaska's state government apparently doesn't want people to forget there's still significant oil and gas potential beneath the Arctic National Wildlife Refuge's coastal plain amid talk of incredible possible domestic supplies in tight shales and deep offshore.

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