US President Barack Obama should recognize why the US energy outlook improved during his administration and not allow regulations to be imposed that would stifle further progress, oil and gas industry leaders said prior to Obama’s final State of the Union address. Source: News
Kay tapped as Beach Energy chief executive officer
Matthew Kay has been chosen to serve as chief executive officer of Beach Energy Ltd., Adelaide. Kay will succeed Neil Gibbins, currently Beach’s acting chief executive officer. Source: News
MARKET WATCH: NYMEX, Brent oil prices settle below $32/bbl
Light, sweet crude prices for February delivery plunged on the New York market Jan. 11 settling down $1.75 to $31.41/bbl—the lowest level since December 2003. Source: News
Saudi Arabia, UAE lead GCC subsidy reform
Saudi Arabia and the United Arab Emirates lead the Gulf Cooperation Council in raising energy prices and cutting subsidies in response to fiscal pressures created by the slump in crude oil prices, according to Arab Petroleum Investments Corp. (APICORP), Dammam, Saudi Arabia. Source: News
EIA: US shale oil output to decline 116,000 b/d in February
Crude oil production in February from seven major US shale plays is expected to fall 116,000 b/d to 4.83 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). The agency last month also projected a 116,000-b/d loss for January. Source: News
Suncor extends offer for Canadian Oil Sands
Suncor Energy Inc. is extending its offer for all the outstanding shares of Canadian Oil Sands Ltd. (COS) to Jan. 27. Source: News
Eni brings Mpungi field on production offshore Angola
Italy’s Eni SPA has started deepwater production from Mpungi field on Block 15/06 offshore Angola, reaching a third milestone in the West Hub development project. Source: News
Isobel Deep redrill further confirms discovery in North Falkland basin
Premier Oil PLC’s Isobel Deep redrill, 14/20-2, has confirmed the oil discovery of the original well in May 2015. The well, which is on licence PL004A, 30 km south of Sea Lion field, reached TD at 3,014 m encountering oil-bearing intervals in a number of sandstone reservoirs between 2,564-2,861 m (the base of the Isobel […]
Groups list concerns with proposed PHMSA hazardous liquids rules
The US Pipeline and Hazardous Materials Safety Administration (PHMSA) proposed hazardous liquids pipeline management requirements are a laudable step in some ways, but could create problems and needless duplication in others, according to four national oil and gas associations in three separate filings. Source: News
Pemex lets contract for Madero refinery
Mexico’s Petroleos Mexicanos (Pemex), through its processing subsidiary Pemex Transformacion Industrial (formerly Pemex Refinacion), has let a contract to Fluor Corp. unit ICA Fluor’s industrial engineering-construction joint venture with Empresas ICA SAB de CV for work related to construction of a hydrodesulfurization (HDS) plant as part of the second phase of the country’s ultralow-sulfur diesel […]