A double-dip in oil prices over the past few months has dashed hopes raised in May that prices would hold steady at $60/bbl. Source: News
Oil, gas divestment would cost colleges more than money
Money is the second-best reason for colleges and universities not to shed oil and gas investments. Source: News
Watching Government: Improving offshore safety
Making offshore oil and gas operations safer is never far from some people’s minds. Recent reports and ongoing activities remind the rest of us that it still matters. Source: News
Williams, Chesapeake expand gas gathering in Utica, change Haynesville contracts
Williams Cos. Inc., Tulsa, reported an expansion of gas-gathering services in growing dry gas production areas of the Utica shale in eastern Ohio. Source: News
Oil Search rejects Woodside’s takeover bid
The board of Oil Search Ltd. has unanimously rejected Woodside Petroleum Ltd.’s takeover bid for the company, calling Woodside’s move highly opportunistic and one that grossly undervalues Oil Search (OGJ Online, Sept. 8, 2015). Source: News
STEO: Global oil consumption revised down on weak China economic data
In its most recent Short-Term Energy Outlook, the US Energy Information Administration reported it expects global oil consumption to increase 1.2 million b/d in 2015 and 1.3 million b/d in 2016. Source: News
EIA: US shale oil output to drop 80,000 b/d in October
Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). Source: News
IEA: Most recent OMR shows oil markets tightening
Oil markets are tightening, as stockpiling gradually slows and inventories start to draw in the second half of 2016, the International Energy Agency forecast in its most recent monthly Oil Market Report. Source: News
Chevron settles with California litigation firm over Ecuadorian lawsuit
Chevron Corp. has reached a settlement agreement whereby H5, a California-based e-discovery and litigation services firm, has withdrawn its support from litigation against Chevron in Ecuador and assigned its 1.25% interest in the $9.5-billion Ecuadorian judgment to Chevron. Source: News
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