Jose Antonio Gonzalez Anaya on Feb. 8 was named chief executive officer of Petroleos Mexicanos (Pemex) by Mexican President Enrique Pena Nieto. He succeeds Emilio Lozoya, who resigned after holding the position since 2012. Source: News

Oil & Gas UK says companies are “increasingly pessimistic” about their business prospects. OGUK’s Business Sentiment Index (BSI) for fourth-quarter 2015 indicated that optimism was at its lowest since the index began in 2009. Source: News

Oil and gas companies are looking for innovation from their fracturing contractors, and producers are evaluating completion strategies given the prolonged oil price downturn, plenary session speakers told the SPE Hydraulic Fracturing Technology Conference in The Woodlands, Tex., on Feb. 9. Source: News

Light, sweet crude oil prices dropped Feb. 9 to settle under $28/bbl on the New York market while Brent crude oil prices plunged by more than $2.50 to settle at just above $30.30/bbl after a US government report forecast global oil inventories would climb during 2016-17, adding to an oversupply. Source: News

US President Barack Obama proposed a $10/bbl crude oil tax to fund transportation improvements in addition to doubling federal clean energy research and development outlays in the final federal budget proposal of his presidency. Oil and gas associations immediately said the plan could jeopardize the nation’s relatively new position as a leading global energy producer. […]

In its February Short-Term Energy Outlook (STEO), the US Energy Information Administration forecast Brent crude prices to average $37.52/bbl in 2016, compared with a previous forecast of $40.15/bbl. West Texas Intermediate prices are expected to average $37.59/bbl, down from $38.54/bbl forecasted last month. For 2017, EIA raised its outlook for WTI to $50/bbl from $47/bbl, […]