RSS Oil & Gas Industry News

  • DNV: Electricity as energy source will gain on oil, gas by 2050
    Electricity will gain ground globally on oil and natural gas by 2050 as its use in vehicles continues to rise and power distribution systems are built in developing countries, an inaugural forecast by DNV GL AS, Oslo, said. But natural gas will be the single biggest energy source by mid-century, despite its supplies peaking in […]
  • Iraq urged to improve oil service contracts
    To meet plans for oil production and refining capacity, the Iraqi government must improve contracts with international oil companies and attract foreign investment, says Arab Petroleum Investments Corp. (APICORP), Dammam.
  • EIA reports 5.7 million-bbl decline in US crude stockpiles
    For a fourth straight week, US crude oil stockpiles fell while gasoline inventories climbed, data from the US Energy Information Administration indicates.
  • MARKET WATCH: NYMEX, Brent crude oil prices steady despite Iraq, Iran politics
    Crude oil prices held flat on the New York and London markets Oct. 17 as oil investors monitoring political tensions in the Middle East and awaited the release of the weekly US oil and product inventory.
  • Bakken oil in line for export to China
    Continental Resources Inc. has sold about 1 million bbl of Bakken oil to Atlantic Trading & Marketing Inc. (ATMI), which intends to export the oil to China. Daily sales transactions of 33,500 b/d will take place from Cushing, Okla., beginning in November. ATMI will load China-bound tankers in Texas ports to begin the transport process.
  • Offshore expertise helping Norway in Barents Sea, official says
    More than 5 decades of success off its coast farther south is helping Norway move ahead in seeking additional oil and gas resources in the Barents Sea, a government official indicated on Oct. 17.  
  • Enbridge’s Alberta Clipper capacity increase receives US approval
    Enbridge Energy LP received a presidential permit from the US State Department authorizing it to increase transport up to full design capacity of roughly 890,000 b/d across a 3-mile segment of its Line 67 Alberta Clipper crude oil pipeline at the US-Canada border near Neche, ND, for continued shipment to an existing Enbridge terminal in […]
  • MARKET WATCH: Middle East political tensions support oil prices
    Crude oil prices rose modestly on the New York market Oct. 16 with the December contract settling above $52/bbl on what analysts called continuing political tensions in the Middle East. Crude prices continued to rise Oct. 17.
  • COGA, API council jointly sue City of Thornton over new regulations
    The Colorado Oil & Gas Association (COGA) and the American Petroleum Institute’s Colorado Petroleum Council (CPC) jointly sued the City of Thornton on Oct. 10 over new regulations that the trade associations said could hurt jobs, raise energy costs to Colorado consumers, and hurt the state’s economy.
  • Pruitt issues directive aimed at curbing ‘sue-and-settle’ litigation
    Declaring that “the days of regulation through litigation are over,” US Environmental Protection Agency Administrator E. Scott Pruitt issued a directive on Oct. 16 aimed at increasing public participation and transparency in consent decrees and settlement agreements.

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