Archives November 2014

Nov
18
2014

Cenovus receives approvals for Telephone Lake oil sands project

Cenovus Energy Inc., Calgary, has received approval from the Alberta Energy Regulator (AER) and the province of Alberta for its wholly owned Telephone Lake thermal oil sands project, 90 km northeast of Fort McMurray in the company’s Borealis Region of northern Alberta. …read more Source: Oil Gas Journal   

Nov
18
2014

Deloitte: More executives believe US can be self-sufficient in oil

More oil and gas executives are growing increasingly confident that the US will be self-sufficient in oil in 5-10 years, said a Deloitte survey titled, “2014 Oil & Gas Survey: The Next Chapter of the Energy Renaissance.” …read more Source: Oil Gas Journal   

Nov
18
2014

MARKET WATCH: Oil prices slide on New York, London markets

US light, sweet crude oil prices settled below $76/bbl Nov. 17 on the New York market and Brent oil prices settled below $80/bbl on the London market upon expectations that the Organization of Petroleum Exporting Countries will not act to reduce ample oil supplies worldwide. …read more Source: Oil Gas Journal   

Nov
17
2014

IEA revises global 2014 oil demand forecast slightly downward

The International Energy Agency reported it has revised downward its global oil demand forecast for 2014 since its last report by 200,000 b/d to 92.4 million b/d. IEA said this revision was made “on reduced expectations of economic growth and the weak recent trend.” …read more Source: Oil Gas Journal   

Nov
17
2014

Watching Government: Considering the 2014 elections

Not a whole lot changed for US oil and gas in the 2014 elections despite Republicans regaining majority control of the Senate and increasing their number of governorships. …read more Source: Oil Gas Journal   

Nov
17
2014

Obama determined to let Keystone XL review process 'play out'

US President Barack Obama reiterated his stance on Nov. 5 that the proposed Keystone XL crude oil pipeline’s ongoing cross-border permit review process should be allowed to proceed amid suggestions that Republicans winning majority control of the Senate in elections a day earlier opens the way for congressional legislation on the matter to reach his […]

Nov
17
2014

EIA: OPEC's anticipated inaction brings uncertainty to oil price forecast

Brent crude oil prices fell to $84/bbl at the end of October from $95/bbl at the beginning of the month. …read more Source: Oil Gas Journal   

Nov
17
2014

Saudis have reasons better than shale to let prices fall

Only by overlooking important forces in markets and politics can anyone assert that Saudi Arabia is letting crude prices fall mainly to extinguish competition from North American shale oil. …read more Source: Oil Gas Journal   

Nov
17
2014

Hess, Chevron report start of oil, gas production from Tubular Bells

Operator Hess Corp. and partner Chevron Corp. reported the start of oil and gas production from their Tubular Bells development in the deepwater Gulf of Mexico. The project is expected to produce 50,000 boe/d from three wells. …read more Source: Oil Gas Journal   

Nov
14
2014

North Dakota lawmakers mull Bakken crude regulations

Oil producers in North Dakota’s Bakken and Three Forks formations could be required to strip gases from crude oil showing high vapor pressure before transporting the oil under new standards being considered by the North Dakota Industrial Commission, which met Nov. 13. …read more Source: Oil Gas Journal   

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