RSS Oil & Gas Industry News

  • Market Watch: NYMEX crude oil settles below $47/bbl on oversupply concerns
    Light, sweet oil prices fell more than $3/bbl on New York market Dec. 18 with the January contract settling at $46.24/bbl, the front-month’s lowest closing since Aug. 30, 2017. 
  • ADNOC awards 5% Ghasha interest to OMV
    Abu Dhabi National Oil Co. and the government of Abu Dhabi have awarded OMV the last available nonstate interest in the Ghasha Concession for development of high-sulfur natural gas fields off the emirate.
  • US Chamber study estimates ‘keep it in the ground’ economic costs
    nti-energy activists’ “keep it the ground” efforts have prevented at least $91.9 billion in domestic economic activity and eliminated nearly 730,000 job opportunities, a new study by the US Chamber of Commerce’s Global Energy Institute (GEI) concluded. 
  • Wood named CEO of Gulfport Energy
    David M. Wood, chairman of the board and former chief executive officer of Arsenal Resources LLC, has joined Gulfport Energy Corp., Oklahoma City, as president and CEO.
  • CNOOC signs agreements for areas off China
    China National Offshore Oil Corp. has signed strategic cooperation agreements with nine international oil companies for possible development of two areas in the Pearl River Mouth basin offshore China.
  • Congressional Republicans ask Trump to act on Keystone XL pipeline
    Forty-two congressional Republicans asked President Donald J. Trump “to take any appropriate action necessary to move construction forward” on the Keystone XL crude oil pipeline.
  • An embattled Zinke resigns as US Interior secretary
    US Interior Sec. Ryan K. Zinke resigned on Dec. 15, saying that he could not justify “spending thousands of dollars defending myself and my family against false allegations.” He made his move weeks before Democrats were due to regain majority control of the House and could have launched investigations into some of Zinke’s activities that […]
  • Use technology to address climate change, Oxy exec advises
    More oil and gas producers should be ready to use technology to address climate change instead of denying the problem exists, Occidental Petroleum Corp. Pres. and Chief Executive Officer Vicki A. Hollub recommended on Dec. 14. “We’ve been doing enhanced oil recovery for decades. When carbon dioxide is used to produce oil, the net emissions […]
  • Williams receives FERC approval for Gateway expansion
    Williams Cos. Inc., Tulsa, has received a certificate of public convenience and necessity from the US Federal Energy Regulatory Commission authorizing the Gateway Expansion project—an expansion of the Transco natural gas pipeline to serve the US Northeast.
  • Two blocks offered off Sable Island, NS
    Two blocks nominated by the oil and gas industry are on offer off Sable Island in the northern Atlantic. The Canada-Nova Scotia Offshore Petroleum Board will accept bids through May 8, 2019, for exploration licenses covering 75,788-hectare Parcel 1 and 73,004-hectare Parcel 2, both in less than 100 m of water on the Scotian Shelf.

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