Archives May 2015

May
18
2015

DEA farms out part of West Nile Delta project to BP

DEA Deutsche Erdoel AG has farmed out its stake in the West Nile Delta project in Egypt to its joint venture partner (and operator) BP PLC “in order to better balance its portfolio,” the company reported. …read more Source: Oil Gas Journal   

May
18
2015

Anadarko lets contract to JV trio for development of Mozambique LNG project

Anadarko Petroleum Corp. has let a contract to CB&I, Chiyoda Corp., and Saipem SPA—together forming the CCS joint venture—for the initial development of an LNG project in Mozambique. …read more Source: Oil Gas Journal   

May
18
2015

Senate bills would give more coastal states offshore revenue shares

US senators introduced a trio of bills on May 11 to establish or increase shares of federal revenue with states that have federal oil and gas leases off their coasts. Measures sponsored by Energy and Natural Resources Committee Chair Lisa Murkowski (R-Alas.), Bill Cassidy (R-La.), and Mark R. Warner (D-Va.) will be discussed with 23 […]

May
18
2015

Quick supply change a vital factor in oil market recovery

Large among questions hanging over an oil market groping for balance is the behavior of short-fuse supply. …read more Source: Oil Gas Journal   

May
18
2015

Oil and dinosaurs

It was at about this time a year ago that deepwater technologies pioneered by the oil and gas industry were used-albeit fruitlessly-in the search for missing Malaysia Airlines Flight 370, the exact fate of which has become one of the world’s great mysteries. …read more Source: Oil Gas Journal   

May
18
2015

DOE wants authority to use SPR sooner in an emergency, Smith says

The US Department of Energy will seek authority to act earlier in an emergency release of crude oil from the Strategic Petroleum Reserve as part of a comprehensive review of the 40-year-old system, said Christopher A. Smith, assistant US Energy secretary for fossil energy. …read more Source: Oil Gas Journal   

May
18
2015

A new Saudi Arabia

Saudi Arabia’s diplomatic jab at US President Barack Obama this month augurs change for the oil and gas market. Details will come later. For now, that the jab occurred at all offers much to ponder. …read more Source: Oil Gas Journal   

May
15
2015

BHI: US rig count decline shrinks to 6 this week, settles at 888

The trend of shrinking declines in the US drilling rig count continued during the week ended May 15. Just 6 units were laid down to settle at a total of 888 rigs working, representing the smallest drop in the 23 consecutive weeks in which the count has dived, easily surpassing last week’s 11 that went […]

May
13
2015

IEA: Oil price rallied on slowing US LTO production

Despite persistently high global supply and continued stock builds, oil prices rallied in April and early May, likely sparked by signs of slowing US light, tight oil (LTO) output, according to the most recent Oil Market Report from the International Energy Agency. …read more Source: Oil Gas Journal   

May
13
2015

BP lets Thunder Horse expansion contract

BP Exploration & Production Inc. has let a contract to Technip covering pipeline systems for a southern expansion of ultradeepwater Thunder Horse oil and gas field on Mississippi Canyon Blocks 778 and 822 in the Gulf of Mexico. …read more Source: Oil Gas Journal   

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