Archive for the ‘General Interest’ Category
MARKET: Brent for August tops $62/bbl
June 17th, 2019 by Latest News
Brent oil prices rose moderately on the London market June 14 with the August contract closing slightly above $62/bbl while light, sweet crude prices in New York held fairly flat, again settling above $52/bbl.
Baker Hughes: US rig count down 6 units to 969
June 14th, 2019 by Latest News
The US drilling rig count fell 6 units, reaching 969 rigs working for the week ended June 14, according to Baker Hughes data. The count is down 90 units from the 1,059 rigs working this time a year ago.
Rising natural gas production in Argentina coupled with competitive global LNG transportation costs are expected to position the country as an emerging source of gas supply to Asia during peak demand periods, recent research from Wood Mackenzie shows.
IEA consecutively cuts oil demand growth forecast
June 14th, 2019 by Latest News
In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. It is now projected at 1.2 million b/d, reduced from 1.3 million b/d in the previous report and 1…
Husky fined for 2016 Saskatchewan oil spill
June 14th, 2019 by Latest News
Husky Oil Operations entered guilty pleas June 12 on federal and provincial charges related to a 2016 oil spill in Saskatchewan and will pay fines totaling $3.82 million. Husky was fined $2.5 million under the federal Fisheries Act and $200,000 fo…
MARKET: Oil prices rise on tanker attacks
June 14th, 2019 by Latest News
Oil futures rallied on the New York and London markets June 13 following attacks on two oil tankers near the Strait of Hormuz although crude settlements failed to completely recover from the previous trading session losses of more than $2/bbl.
CSB: Operational lapses led to well blowout, fire
June 13th, 2019 by Latest News
Poor barrier management combined with underbalanced operations performed without proper planning, procedures, or needed equipment to make an Oklahoma natural gas well blow out and catch fire on Jan. 22, 2018, killing five workers in the driller’s cabin…
US Environmental Protection Agency Administrator Andrew R. Wheeler extended temporary emergency fuel waivers on June 12 for Allegheny County, Pa. The waivers were due to expire on June 17.
Callon closes sale of noncore Midland assets
June 13th, 2019 by Latest News
Callon Petroleum Co., Natchez, Miss., has closed on the sale of noncore assets in the southern Midland basin to Sequitur Permian LLC for net cash proceeds of $245 million. Proceeds do not include potential contingent consideration payments of up to $60…
Canada nixes controversial-bill overhaul
June 13th, 2019 by Latest News
Industry groups warned of further damage to Canadian oil and gas investment after federal Environment Minister Catherine McKenna rejected most amendments made in the Senate to a bill overhauling environmental review of energy projects.