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Oil & Gas News, Markets and People
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BNK Petroleum reports initial production of 730 BOED at Brock 9–2H well
BNK Petroleum reports initial production of 730 BOED at Brock 9–2H well
BNK Petroleum Inc. has announced that the Brock 9–2H well (100% working interest) averaged about 730 boed, of which 625 bbl are oil, for…
OILWIRE
Oct 13, 2017
India can’t drill solo to meet oil supply goals, Wood Mac says
India can’t drill solo to meet oil supply goals, Wood Mac says
India needs overseas help to raise production from its aging oil fields and meet its goal of lowering crude imports by 2022, according to…
OILWIRE
Oct 13, 2017
EIA: Permian basin to drive fourth-quarter U.S crude production increases
EIA: Permian basin to drive fourth-quarter U.S crude production increases
In its Short-Term Energy Outlook (STEO) update released this week, EIA forecasts that U.S crude oil production will average 9.4 MMbpd in…
OILWIRE
Oct 13, 2017
Dakota Access boosts drillers, but won’t be a Bakken game-changer
Dakota Access boosts drillers, but won’t be a Bakken game-changer
Once hailed as the spur for a North American “energy renaissance,” the $3.8 billion Dakota Access pipeline has limited driller costs in its…
OILWIRE
Oct 12, 2017
Tullow acquires ninety-percent stakes in four onshore blocks in Côte d’Ivoire
Tullow acquires ninety-percent stakes in four onshore blocks in Côte d’Ivoire
Tullow has acquired 90% stakes in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the…
OILWIRE
Oct 12, 2017
Groundhog Day in London as oil stock soars on North Sea reserves
Groundhog Day in London as oil stock soars on North Sea reserves
Shares of Independent Oil & Gas (IOG) Plc rose as much as 100% on Thursday, the second dramatic increase for a North Sea explorer this…
OILWIRE
Oct 12, 2017
DNV GL acquires specialist in CFD for fire, explosion analysis
DNV GL acquires specialist in CFD for fire, explosion analysis
World-leading capabilities in the CFD domain
OILWIRE
Oct 12, 2017
AADE Lafayette Chapter elects 2017–2018 board, committee members
AADE Lafayette Chapter elects 2017–2018 board, committee members
The Lafayette Chapter of the American Association of Drilling Engineers (AADE) has elected its 2017–2018 board and committee members…
OILWIRE
Oct 12, 2017
OPEC said to see oil inventory glut disappear in one year
OPEC said to see oil inventory glut disappear in one year
OPEC expects its efforts to clear the surplus in oil inventories to finally succeed by the end of the third quarter of next year, said…
OILWIRE
Oct 12, 2017
Trump’s red light for Iran deal — What would happen to Iran’s Oil Production and Exports?
Trump’s red light for Iran deal — What would happen to Iran’s Oil Production and Exports?
Iran, already struggling to attract investors to its energy industry, may find things tougher still as U.S. President Donald Trump tries to…
OILWIRE
Oct 12, 2017
BNP Paribas to halt shale oil financing
BNP Paribas to halt shale oil financing
BNP Paribas SA promised to stop financing shale and oil sands projects as part of its latest efforts to tackle climate change.
OILWIRE
Oct 12, 2017
Canadian oil’s high-priced run set to end as supply surges
Canadian oil’s high-priced run set to end as supply surges
Canadian oil-sands producers enjoying the strongest market for heavy crude since 2008 will soon face a renewed glut.
OILWIRE
Oct 12, 2017
OILPRO founder sentenced in RIGZONE hacking case
OILPRO founder sentenced in RIGZONE hacking case
The founder of an oil and gas networking website who pleaded guilty to hacking a rival site he had created and sold to DHI Group Inc was…
OILWIRE
Oct 11, 2017
Rosneft acquires 30% stake in giant Zohr field for $1.125 billion
Rosneft acquires 30% stake in giant Zohr field for $1.125 billion
Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the…
OILWIRE
Oct 10, 2017
Statoil oil discovery in Verbier sidetrack on UK continental shelf
Statoil oil discovery in Verbier sidetrack on UK continental shelf
Statoil and partners have made an oil discovery in the Verbier sidetrack well in the outer Moray Firth on the UK Continental Shelf, proving…
OILWIRE
Oct 10, 2017
Kalnin Ventures becomes leading player in Marcellus with $210-million acquisition
Kalnin Ventures becomes leading player in Marcellus with $210-million acquisition
Kalnin Ventures LLC has announced that an affiliate of its BKV Oil and Gas Capital Partners, LP fund, has entered into purchase and sale…
OILWIRE
Oct 10, 2017
Iraq and Iran Boost Oil Exports in Sales Battle With Saudis
Iraq and Iran Boost Oil Exports in Sales Battle With Saudis
Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from rival Saudi Arabia to win buyers in…
OILWIRE
Oct 10, 2017
Saudis to make deepest cut to crude supply in November
Saudis to make deepest cut to crude supply in November
Saudi Aramco plans to make “the deepest customer allocation cuts in its history” in oil supplies in November to help reduce global…
OILWIRE
Oct 9, 2017
Oil companies wade back into Gulf of Mexico as Nate fizzles
Oil companies wade back into Gulf of Mexico as Nate fizzles
Oil companies were heading back into the Gulf of Mexico and working to restore operations after Hurricane Nate fizzled out over the U.S…
OILWIRE
Oct 9, 2017
OPEC sees “extraordinary” steps needed for market stability
OPEC sees “extraordinary” steps needed for market stability
Oil producers are succeeding in re-balancing an oversupplied market, though they may need to take further steps to sustain the recovery…
OILWIRE
Oct 9, 2017
Was $50/bbl for oil just a passing fancy?
Was $50/bbl for oil just a passing fancy?
West Texas Intermediate, the U.S. benchmark, skyrocketed above $52/bbl at the end of September, teasing investors. But the rally didn’t…
OILWIRE
Oct 9, 2017
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