Archives April 2016

Apr
29
2016

Statoil halts output at Gullfaks B after helicopter crash

Thirteen are feared dead after a CHC helicopter on assignment for Statoil ASA crashed on Apr. 29 outside Turoy in Fjell municipality outside Bergen, Norway. …read more Source: Oil Gas Journal   

Apr
29
2016

House hearing on BLM’s proposed methane rule shows key disagreements

Opponents and supporters of the US Bureau of Land Management’s proposed venting and flaring rule for oil and gas producers quickly defined their main differences at an Apr. 27 House Natural Resources subcommittee hearing. One side called it a case of classic federal regulatory overreach where an agency is trying to exceed its authority. The […]

Apr
29
2016

ExxonMobil first-quarter earnings plunge $3.1 billion

ExxonMobil Corp. posted first-quarter earnings of $1.8 billion compared with $4.9 billion a year earlier. The impacts of sharply lower commodity prices and weaker refining margins were partly offset by strong chemical results. …read more Source: Oil Gas Journal   

Apr
29
2016

BHI: US rig count falls for 34th time in 36 weeks, but stabilization seen

The US drilling rig count declined 11 units to 420 rigs working during the week ended Apr. 22, according to data compiled by Baker Hughes Inc. …read more Source: Oil Gas Journal   

Apr
29
2016

Chevron posts $725-million first-quarter loss

Chevron Corp. posted a first-quarter loss of $725 million compared with earnings of $2.6 billion in first-quarter 2015. Foreign currency effects decreased earnings in the quarter by $319 million compared with an increase of $580 million a year earlier. …read more Source: Oil Gas Journal   

Apr
29
2016

Suncor to buy additional 5% of Syncrude for $937 million (Can.)

Suncor Energy Inc. is to buy an additional 5% of Syncrude Canada Ltd. for $937 million (Can.) from the Canadian subsidiary of Murphy Oil Corp. The purchase will bring Suncor’s interest in Syncrude to 53.74% and close out Murphy’s participation (OGJ Online, Dec. 9, 2015). …read more Source: Oil Gas Journal   

Apr
28
2016

Sona Petroleum shareholders vote against Stag field acquisition

Shareholders of Malaysian company Sona Petroleum Bhd. have voted against the company’s proposed acquisition of Stag oil field in the Carnarvon basin offshore Western Australia. …read more Source: Oil Gas Journal   

Apr
28
2016

BP taps Petrofac for Miller decommissioning

BP PLC has let a “duty holder” contract to Petrofac to support decommissioning of the idle platform on Miller oil and natural gas field in the central UK North Sea. …read more Source: Oil Gas Journal   

Apr
27
2016

Next 5-year OCS program should be more ambitious, API official urges

An American Petroleum Institute official called on President Barack Obama’s administration to maintain and promote US offshore oil and gas development during the 2017-22 federal program now being prepared. …read more Source: Oil Gas Journal   

Apr
27
2016

Fort Hills oil sands project more than half completed, Teck says

Teck Resources Ltd., Vancouver, BC, said construction of the Fort Hills oil sands project in northern Alberta is more than half completed. It was 40% complete last September. …read more Source: Oil Gas Journal   

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