Archives May 2015

May
13
2015

ExxonMobil brings Banyu Urip oil field on stream in East Java

ExxonMobil Corp. has brought on stream its giant Banyu Urip oil field on the Cepu block in East Java, Indonesia, after overcoming disputes with state-run Pertamina. …read more Source: Oil Gas Journal   

May
12
2015

EIA forecasts higher global oil consumption growth

In its most recent Short-Term Energy Outlook (STEO), the US Energy Information Administration expects global oil consumption to rise by 1.2 million b/d in 2015 and by 1.3 million b/d in 2016, upward from last month’s STEO by an average of 200,000 b/d in both 2015 and 2016, as lower oil prices stimulate demand growth […]

May
12
2015

BPTT to start drilling in Juniper gas field offshore Trinidad

Starting next week, BP Trinidad & Tobago LLC (BPTT) reported it will begin drilling its first of five wells in its Juniper natural gas field 50 miles offshore Trinidad and Tobago’s southeast coast in the next week. BPTT has announced that the wells will be drilled by Diamond Offshore Drilling Inc.’s Ocean Victory semisubmersible drilling […]

May
12
2015

WoodMac: Brazil, Norway oil to alter markets

An estimated 3.8 million b/d of new supply by 2025 of heavy, sweet crude from large developments offshore Brazil and Norway will help European refiners, says Wood Mackenzie. …read more Source: Oil Gas Journal   

May
12
2015

Encana records 1Q net loss of $1.7 billion

Encana Corp. posted a first-quarter net loss of $1.7 billion primarily due to a noncash, aftertax ceiling test impairment and a non-operating foreign exchange loss. …read more Source: Oil Gas Journal   

May
12
2015

EIA: Oil output from major US shale to fall 86,000 b/d in June

Crude oil production in June from seven major US shale plays is expected to decrease 86,000 b/d compared with May to 5.6 million b/d, about even with where the total stood in March, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). …read more Source: Oil Gas Journal   

May
12
2015

Coniston oil field comes on stream offshore W. Australia

The Apache Energy-Inpex joint venture’s Coniston oil field, which straddles licences WA-35-L and WA-55-L offshore Western Australia, has been brought on stream 2 years later than scheduled. …read more Source: Oil Gas Journal   

May
12
2015

Low crude prices may thin, but not kill, US production, speakers say

Overseas competitors who were caught off-guard initially by rising US unconventional crude oil production have increased their own outputs now and can be expected to try and keep prices low to protect their global market shares, speakers at a May 12 Atlantic Council discussion said. …read more Source: Oil Gas Journal   

May
11
2015

Shell gets conditional approval for US Arctic drilling plan

The US Bureau of Ocean Energy Management (BOEM) on May 11 conditionally approved Shell Gulf of Mexico Inc.’s revised multiyear exploration plan (EP) that proposes the drilling of as many as six wells on the Burger prospect in the Chukchi Sea. …read more Source: Oil Gas Journal   

May
11
2015

Cold Lake project expansion starts production

ExxonMobil Corp. has started bitumen production at the $2-billion Cold Lake Nabiye project expansion in northeastern Alberta. …read more Source: Oil Gas Journal   

Page 4 of 8
© Gates Oil & Gas, LTD 2013