More Oil & Gas News

OTC: Brazil's 13th bid round will be concession model, energy minister says

Brazil will use a concession model rather than a production-sharing model in the country's 13th bid round later this year.

OTC: BSEE director says industry on probation as far as public trust

Industry must cooperate and collaborate with a number of international stakeholders to achieve the highest safety standards offshore, Brian Salerno, director of the Bureau of Safety and Environmental Enforcement, told an Offshore Technology Conference breakfast May 6 in Houston.

OTC: BP's Dupree outlines new model for offshore technology development

Operators are changing their approach to offshore technology development because of its increasing scale and pace, said James Dupree, BP's chief operating officer, reservoir development technology.

OTC: Shell determined to proceed with drilling in US Arctic

Despite numerous regulatory hurdles and impassioned resistance from environmentalists, Royal Dutch Shell PLC maintains that it is on track to drill two wells in the Chukchi Sea during drilling season this summer.

OTC: Federal, state cooperation vital for offshore energy development

US coastal states and the federal government will need to continue having an open and honest dialogue about the safe and reliable exploration and development of offshore oil and gas resources, panelists agreed May 5 in an opening session at the Offshore Technology Conference in Houston.

Compensating safety

Amid a violent contraction of the oil and gas industry, as companies jettison work and workers to confine spending to diminished cash flow, one function must escape the blade.

OGJ Newsletter

International news for oil and gas professionals

Brightoil Petroleum appoints executive director

Brightoil Petroleum (Holdings) Ltd., Hong Kong, reported that Wang Wei has been appointed as executive director.

BG Group CEO reports 1Q earnings, speaks on pending purchase by Shell

BG Group Chief Executive Officer Helge Lund commented on the pending acquisition of his company by Royal Dutch Shell PLC during the company’s first-quarter earnings webcast.

MARKET WATCH: NYMEX, Brent oil prices slump in continued volatility

Crude oil prices slumped on New York and London markets on May 7, with US light, sweet crude oil for June delivery recording its biggest drop in a month. The closing price was down nearly $2/bbl, and the slump came 1 day after a decline in the oil inventory prompted a sharp oil price rally.

Capito’s bill aims to improve federal pipeline permitting process

US Sen. Shelley Moore Capito (R-W.Va.) introduced legislation aimed at modernizing and improving the timeframe for proposed oil and gas pipelines to get federal approval.

Study shows proposed Pennsylvania gas severance tax would be costly

A proposed natural gas severance tax in Pennsylvania would have negative economic consecutives for the state, according to a Natural Resource Economics Inc. study released May 7 by the Associated Petroleum Industries of Pennsylvania (API-PA).

Chesapeake reports 1Q net loss of $3.782 billion

Chesapeake Energy Corp., Oklahoma City, reported a first-quarter net loss of $3.782 billion, down from a net income of $374 million in first-quarter 2014.

US DOE sanctions LNG exports from Cove Point

The US Department of Energy reported that that it has issued a final authorization for Dominion Cove Point LNG LP to export US-produced LNG to countries that do not have a free-trade agreement with the US from its Cove Point LNG terminal in Calvert County, Md.

Apache reports 1Q net loss of $4.7 billion

Apache Corp. reported a first-quarter net loss of $4.7 billion, including an aftertax ceiling-test write down of $4.7 billion due to “substantially lower commodity prices.”

Market Connections

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