Gupta joins Essar Oil in top roles | Oil & Gas Journal

Lalit Kumar Gupta has been named managing director and chief executive officer of Essar Oil Ltd., which handles oil and gas operations in India for Essar Energy PLC, part of the Essar Group of London. He had been CEO and joint managing director of JSW Energy Ltd., an Indian power and mining company.

Naresh Nayyar, formerly CEO of both Essar Energy and Essar Oil and managing director of Essar Oil, becomes deputy chairman of Essar Oil.

More in General Interest

Unite Oil and Gas Operations with Onshore/Offshore Data Replication

Unite Oil and Gas Operations with Onshore/Offshore Data Replication

Staying on the Same Page An Enterprise software vendor committed to the offshore gas industry-like IFS-will have a standard, embedded solution that will minimize cost and risk and implement more reliably than a one-off solution.

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.

190912 Equinor Bahamas Spill

Equinor progresses with oil spill recovery in the Bahamas

Equinor is progressing with oil spill recovery at the South Riding Point terminal in the Bahamas after the impact of Hurricane Dorian. An onshore team has started to recover oil and move it into tank storage.

API issues offshore operations integrity management standards

API published three new integrity management standards on Sept. 10 to assure continued reliable and efficient operation of offshore floating production platforms, including facilities designed to produce crude oil and natural gas as well as export LNG.

EIA: US crude inventories down 6.9 million bbl

US crude oil inventories for the week ended Sept. 6, excluding the Strategic Petroleum Reserve, decreased by 6.9 million bbl from the previous week, according to data from the US Energy Information Administration.

MARKET WATCH: Crude benchmarks drop more than $1/bbl

Light, sweet crude oil for October fell by $1.65 to settle under $56/bbl on Sept. 11 while Brent for November dropped nearly $1.60 to settle under $61/bbl.

US gas resource base broke records by yearend 2018, PGC reports

Estimated US gas resources increased to a record 3,374 tcf at yearend 2018, 20% more than 2 years earlier, which represents the largest 2-year increase in the assessment’s 54-year history, the CSM's Potential Gas Committee and the AGA jointly reported.

Alberta files Bill C-69 court challenge

The government of Alberta has filed a legal challenge to a federal law enacted earlier this year that opponents say impedes permitting of oil and gas pipelines and other major projects.

Obsidian studying strategic alternatives

Obsidian Energy Ltd., Calgary, has begun a formal study of strategic alternatives. Options might be a sale, merger, or other business combination; disposition of all or some assets; refinancing of the capital structure; or a combination.