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oil and gas

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Brexit: Adverse Impact for UK’s Oil, Gas Industry Unlikely

June 27, 2016

The people of the United Kingdom’s decision to leave the European Union is unlikely to have a major adverse impact on the country’s oil and gas industry, companies and organizations involved in the sector said. But they also called for clear leadership from the UK government on the way forward for the industry in order… Continue Reading »

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Coming Wave Of Gas Puts Focus On Finding New Shores

June 13, 2016

Energy giants such as Royal Dutch Shell and Total are looking to build terminals and power plants in new markets to soak up the industry’s rapidly burgeoning supply. Companies have invested billions in plants to produce liquefied natural gas (LNG) in places such as Australia and the United States. But gas demand growth is slowing,… Continue Reading »

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Algeria Signs Oil, Gas Deal as OPEC Member Seeks to Boost Sales

May 18, 2016

Algeria will supply oil and other energy products to Jordan for the first time under a memorandum of understanding signed on Monday, as the OPEC member seeks to diversify sales after years of stagnating crude production. Algeria’s state-run Sonatrach Group will start shipping liquefied natural gas and liquefied petroleum gas to Jordan in September, followed… Continue Reading »

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How Can Feds Help Oil, Gas Industry? Stay Out Of It, Insiders Say

May 3, 2016

As U.S. oil and gas continues its “lower for longer” path, the question arises of whether a bailout – such as the one granted to the automotive industry at the end of the 2000s – has become part of the national discourse. The automotive industry’s rescue amounted to a bill of $9.3 billion once the… Continue Reading »

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Statoil reports adjusted earnings of USD 857 million in the first quarter of 2016.

April 27, 2016

“Our financial results were affected by low oil and gas prices in the quarter. We delivered strong operational performance across all business areas, high production efficiency and results in line with expectations from liquids trading and refining. The guidance for 2016 is maintained,” says Eldar Sætre, President and CEO of Statoil ASA. “The industry is… Continue Reading »

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Maersk Oil awards four year contract for Culzean Development

April 27, 2016

Maersk Oil has awarded leading information management specialist – Datum360 – with a four year contract to implement Software as a Service (SaaS) solutions for the Culzean development in the UK North Sea. The key component of the solution – PIM360 – will be at the centre of Culzean’s engineering data management. Datum360 software has… Continue Reading »

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Norway’s Arctic A Bright Prospect In Crisis-Hit Oil Sector

April 25, 2016

While the oil industry continues to cut jobs, projects and costs amid low crude prices, one region is making a surprise comeback after years of declining activity, company executives and officials say: the Norwegian Arctic. The search for oil and gas in mature offshore areas in the North Sea is being axed this year due… Continue Reading »

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Big Oil’s `Rock Star’ in Congress Runs Rig Tours for Support

April 24, 2016

Congressman Steve Scalise leaned over the railing of the Chevron Corp. oil platform floating in inky blue waters 250 miles off the Louisiana coast and marveled to a cluster of lawmakers that it produces 75,000 barrels of crude every day. Scalise is one of the oil industry’s busiest tour guides in Congress. Eight times, he’s lured… Continue Reading »

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Kimmeridge Limestone Projects Could Generate up to 5,600 jobs in the UK

April 24, 2016

Future Kimmeridge Limestone oil production projects over the UK’s Weald Basin could generate between approximately 1,000 to 5,600 jobs in the UK per year on average during their lifetime, according to a report from advisory services firm EY, which was commissioned by UK Oil & Gas Investments plc. The report predicts that the gross value… Continue Reading »

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