RSS Oil & Gas Industry News

  • Shell, Chevron headline subdued first regionwide US gulf lease sale
    The first regionwide Gulf of Mexico lease sale under the US Bureau of Ocean Energy Management’s new Outer Continental Shelf program was predictably subdued, with supermajors Royal Dutch Shell PLC and Chevron Corp. leading in bidding activity and sum of high bids.  
  • Shell sheds 50% stake in SADAF chemicals JV
    Royal Dutch Shell PLC has completed the sale of its 50% interest in the Saudi Petrochemical Co. (SADAF) joint venture to Saudi Basic Industries Corp. (SABIC), its partner, for $820 million.
  • Trump signs executive order to streamline environmental reviews
    US President Donald J. Trump signed an executive order aimed at streamlining federal environmental reviews for energy and other infrastructure projects on Aug. 15.
  • EIA: US crude inventory drops nearly 9 million bbl
    US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 8.9 million bbl for the week ended Aug. 11 compared with the previous week, the Energy Information Administration said in its weekly oil and products inventory report.  
  • MARKET WATCH: NYMEX, Brent oil prices hold steady
    US light sweet crude prices dropped only a few cents on Aug. 15, setting at $47.55/bbl while Brent crude prices also slipped a few cents to settle below $51/bbl for a second consecutive day.  
  • DOE plans to announce new sales of crude from SPR later in August
    The US Department of Energy expects to issue a notice of sale of crude oil from the Strategic Petroleum Reserve later in August, DOE’s Fossil Energy Office said on Aug. 15. The anticipated sale of 14 million bbl will fulfill requirements of Section 5010(a)(1)(B) of the 21st Century Cures Act (Public Law 114-255) and Section […]
  • New NAFTA talks may help Mexico lock in energy reforms, speaker says
    North American Free Trade Agreement renegotiations, which are scheduled to begin on Aug. 16, could help Mexico solidify the substantial energy reforms it enacted following the original agreements adopted 23 years ago, a former Mexican Foreign Affairs Ministry official suggested.
  • Court rejects Sierra Club challenges of DOE’s Freeport LNG findings
    A federal appeals court in Washington rejected the Sierra Club’s contention that US Department of Energy authorizations for the Freeport, Tex., liquefied natural gas project’s plans to export LNG inadequately considered environmental consequences. Oil and gas groups immediately welcomed the US Appeals Court for the District of Columbia’s Aug. 15 decision.
  • RimRock buying Whiting Williston assets
    RimRock Oil & Gas Williston LLC has agreed to buy properties in the Bakken-Three Forks play of the Williston basin from Whiting Petroleum Corp. for $500 million cash.
  • Transocean to buy Songa Offshore for $1.8 billion
    Transocean Ltd. plans to buy Songa Offshore SE for $1.8 billion subject to certain conditions. Terms call for the transaction to be paid mostly in stock and convertible bonds.

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