Montemurro joins Sunshine Oilsands Ltd. | Oil & Gas Journal

Mark Montemurro has joined Sunshine Oilsands Ltd., Calgary, as senior vice-president, engineering and geosciences. He has been vice-president, in situ and innovation, at Laricina Energy Ltd., Calgary.

More in General Interest

Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield service is a tricky business for a number of reasons. But fluctuating demand driven by commodity prices are the root cause behind a number of the challenges executives in this industry face

MARKET WATCH: NYMEX drops under $60/bbl, Brent under $65/bbl

Light, sweet crude prices dropped more than $3/bbl in New York and Brent fell more than $4/bbl in London Sept. 17 after Saudi Arabia said it has already restored some crude oil production that was lost to attacks on a processing complex and an oil field.

DOE to invest in offshore enhanced oil recovery R&D projects

The US Department of Energy will invest nearly $9 million in three offshore enhanced oil recovery research and development projects, DOE’s Fossil Energy Office reported.

Corson succeeding Kruger at Imperial helm

B.W. Corson has been appointed president of Imperial Oil Ltd., Calgary, and will become chairman and chief executive officer as well on Jan. 1.

MARKET WATCH: Oil price benchmarks jump about $8/bbl

Light, sweet crude prices soared by about $8/bbl on markets in New York and London Sept. 16 as investors evaluated the effects on Saudi crude oil production following drone strikes that knocked out 5.7 million b/d.

Attacks in Saudi Arabia rock oil market

The loss of 5.7 million b/d of Saudi crude oil production to airborne incursion on Sept. 14 shoved the oil market into panicky adjustment and raised worry about retaliation in an always-tense region.

Energy Transfer to acquire SemGroup in $5-billion deal

Energy Transfer will acquire SemGroup in a deal valued at $5 billion, the acquiring company reported Sept. 16. The acquisition will increase Energy Transfer’s scale across multiple regions and provide increased connectivity for its oil and NGL businesses.

190916 Rystad Saudis Stocks Graph

Rystad: Oil price spike likely short-lived after Saudi drone attack

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million b/d of crude production, or roughly 7% of the current global crude and condensate production.

MARKET WATCH: Crude prices end week lower before drone attack on Saudi facilities

Light, sweet crude oil for October fell to settle below $55/bbl in New York while Brent in London settled just above $60/bbl on Sept. 13. Prices ended the week down before news of a Sept. 14 attack on oil facilities in Saudi Arabia pushed prices higher.

US should address gas pipeline decision-making delays, IEA recommends

The US should evaluate the allocation of decision-making authority for the permitting and siting of gas pipelines to find possible ways to shorten lead times and reduce uncertainty for investors, the IEA recommended in its latest 5-year US energy review.

MARKET WATCH: NYMEX, Brent crude benchmarks turn lower

Light, sweet crude oil for October fell by 66¢ to settle just above $55/bbl on Sept. 12 while Brent for November dropped 43¢ to settle under $61/bbl.

Interior releases final EIS for ANWR coastal plain leasing program

The US Department of the Interior released a final environmental impact statement on Sept. 12 for oil and gas lease sales on the Arctic National Wildlife Refuge’s coastal plain that was authorized under Section 2001 of the 2017 Tax Cuts and Job Act.

IHS: US natural gas prices to fall below $2/MMbtu in 2020

The oversupply of US natural gas—now being reinforced by a surge in associated gas production from the Permian basin—will push the average price at Henry Hub down below $2/MMbtu for 2020, IHS Markit forecasts.

IEA: Oil market to return to a surplus next year

In its September Oil Market Report, the International Energy Agency said that the recent halt of the relentless oil market stock builds since early 2018 is only temporary.