RSS Oil & Gas Industry News

  • BOEM to identify California offshore platform decommissioning issues
    The US Bureau of Ocean Energy Management is trying to help identify issues that could arise as 27 offshore oil and gas platforms off southern California—all but three of which are in federal waters—are decommissioned, officials from the agency’s Pacific Region told members of BOEM’s Committee on Offshore Science and Assessment.
  • MARKET WATCH: NYMEX settles under $43/bbl, Brent under $45/bbl
    The light, sweet crude oil price for July delivery on the New York Mercantile Exchange fell by nearly $1 to settle below $43/bbl on June 21 while Brent crude oil for August delivery fell more than $1 to reach below $45/bbl on the London market.
  • Gulf operators begin evacuations as Tropical Storm Cindy approaches
    Offshore oil and gas operators in the Gulf of Mexico began to evacuate platforms and rigs in preparation for Tropical Storm Cindy, the US Bureau of Safety and Environmental Enforcement announced.
  • FAR, Woodside Senegal dispute taken to arbitration
    Perth company FAR Ltd. has moved to arbitration to resolve the current joint operating agreement dispute regarding the company’s right to pre-empt the sale of ConocoPhillips’ interest in three blocks, including one containing the recent SNE oil discovery offshore Senegal.
  • Ferazzi appointed Williams senior vice-president
    Frank J. Ferazzi has been named senior vice-president overseeing the Atlantic-Gulf operating area of Williams Cos. Inc.
  • UK oil and gas survey notes confidence
    Confidence is returning to the UK oil and gas industry, according to an annual survey by the Bank of Scotland.
  • Oil companies in group seeking carbon tax
    Four major oil companies have joined a nongovernmental initiative to impose a carbon tax in the US as a precaution against catastrophic climate change.
  • EIA data show 2.5 million-bbl US oil inventory drop
    US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 2.5 million bbl to an estimated 509.1 million bbl total for the week ended June 16 compared with the previous week, the Energy Information Administration reported.
  • ESAI: US shale oil production growth to slow in 2018
    ESAI Energy forecasts that US shale oil production will reach 5.6 million b/d by Dec. 31, more than 1 million b/d higher than at the end of 2016. But the pace of growth is expected to slow in 2018 as current oil prices below $50/bbl are likely to hinder the momentum of rig additions.
  • MARKET WATCH: US oil prices settle under $44/bbl pending inventory
    The light, sweet crude oil price for July delivery on the New York Mercantile Exchange fell by nearly $1/bbl to settle at $43.23/bbl on June 20. US futures prices have fallen in four of the last five trading sessions to set a new 2017 low.

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