Gas-directed rigs represented most of the decline in the US rig count for the second consecutive week, giving up 8 of the 13 total units to go offline during the week ended Jan. 22, according to Baker Hughes Inc. data. Source: News
DOI proposes methane emissions limits for operations on public lands
The US Department of the Interior proposed regulations aimed at reducing methane emissions from oil and gas operations on public and tribal lands. Three leading industry associations immediately said the proposed rules are unnecessary because operators already are curbing methane releases voluntarily. Source: News
Nigeria shutters two refineries following pipeline attacks
Nigerian National Petroleum Corp. (NNPC) has stopped production at two of its three major refineries amid disruptions to feedstock availability following mid-January attacks by Nigerian militants on crude oil pipelines that supply the processing sites. Source: News
API: Fourth-quarter US completions down 51%
US oil and gas well completions in the fourth quarter of 2015 fell 51% from the total of the comparable quarter a year earlier, reports American Petroleum Institute. Source: News
Eni completes sale of big Saipem stake
Eni SPA has completed its sale of 12.5% plus one share of construction and drilling contractor Saipen SPA to Fondo Strategico Italiano SpA. Source: News
Contract terminated for Athena FPSO, extended for Umuroa FPSO
Ithaca Energy Inc. and BW Offshore Ltd. have agreed on a termination of the contract for the BW Athena floating production, storage, and offloading vessel, which will be demobilized in February. Source: News
Malaysian firm to buy Lundin’s Bertam FPSO
M3nergy Investment Ltd., a wholly owned subsidiary of M3nergy Bhd. of Malaysia, has agreed to acquire the Bertam floating production, storage, and offloading vessel from Lundin Petroleum AB for $265 million. Source: News
MARKET WATCH: NYMEX crude oil prices briefly climb above $30/bbl
Light, sweet crude oil prices climbed more than $1/bbl on the New York market Jan. 21, reaching a trading session high of $30.25/bbl before settling at $29.53/bbl. The momentum continued with crude prices rallying above $31/bbl in early trading on Jan. 22. Source: News
Husky cuts 2016 budget, defers drilling in western Canada
Husky Energy Inc., Calgary, has revised its capital spending plans for 2016 to $2.1-2.3 billion from $2.9-3.1 billion, primarily reflecting a deferral of discretionary activities in western Canada. Source: News
Aramco, Sinopec move to expand cooperation
Saudi Arabian Oil Co. (Saudi Aramco) and China Petroleum & Chemical Corp. (Sinopec) have signed a framework agreement for cooperation in activities related to oil and other energy. Source: News