Posts Categorized: Uncategorized

Exxon Mobil Corp. on Thursday reported its fifth new oil discovery after drilling the Turbot-1 well offshore Guyana with the Stena Carron drillship. “The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana,” ExxonMobil Exploration Co. President Steve Greenlee said in a company announcement. “ExxonMobil, along… Read more »

EDINBURGH, Oct 3 (Reuters) – Scotland will block fracking indefinitely after a public consultation found overwhelming opposition to the practice, the British region’s energy minister said on Tuesday in a victory for environmentalists. Scotland imposed a moratorium on fracking, the process of fracturing underground shale rock to release gas and oil, in 2015 and that… Read more »

The months-long protests against the construction of a section of the Dakota Access crude oil pipeline will cost the state of North Dakota around US$39 million, after the state’s Emergency Commission voted to borrow an additional US$5 million to pay for policing services provided by as many as 11 other states—and taxpayers may likely be… Read more »

Secretary of Energy Rick Perry has approached the National Petroleum Council to help find effective applications of carbon capture technology in oil and gas production, Reuters reports, citing a meeting of the 200-member industry body with Perry and Interior Secretary Ryan Zinke. While carbon capture technology is certainly “exciting”, to use the Secretary of Energy’s… Read more »

LONDON, Sept 21 (Reuters) – “There is no doubt that the oil market is moving in the right direction,” the Organization of the Petroleum Exporting Countries noted with satisfaction in its most recent bulletin published on Wednesday. “The rebalancing process was never going to happen overnight; it was never going to happen in a linear… Read more »

Several small development companies and one global petrochemical company are drilling, fracturing and completing wells in the United Kingdom, as the upstream sector responds to domestic needs in the face of declines in North Sea production. While there are more than a dozen upstream ventures active in the UK and the Republic of Ireland, most… Read more »

(Bloomberg) — Global oil demand will climb this year by the most since 2015, the International Energy Agency said, amid stronger-than-expected consumption in Europe and the U.S. The IEA, which advises most major economies on energy policy, increased its estimate for demand growth in 2017 by 100,000 barrels a day to 1.6 million a day, or… Read more »

LONDON, Sept 12 (Reuters) – OPEC on Tuesday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non-member countries is helping to tackle a supply glut that has weighed on prices. In a monthly report, the Organization of the Petroleum Exporting Countries… Read more »

Nearly one-third of respondents to Rigzone’s worker exodus survey are highly experienced (having more than 20 years of oil and gas experience). This group of industry professionals has been quite vocal about how they feel about leaving the industry – either voluntarily or involuntarily. Some have decided to leave the industry due to disappointing job… Read more »

(Bloomberg) — Oil tumbled by the most in more than five weeks as fears of falling oil demand in China overshadowed news that Libya’s crude supply was disrupted. Futures fell 2.5 percent in New York. China’s oil refining dropped the most in three years in July, while crude output retreated from the highest this year. Libya’s biggest… Read more »