The cost for developing a field on the Norwegian continental shelf has declined by around 45% since autumn 2014, according to the Norwegian Petroleum Directorate. Source: News

Research and consulting firm Wood Mackenzie Ltd. has slashed $50 billion from its oil and gas capital investment forecast for Norway during 2016-20, reflecting the deferral or scrapping of more than 10 projects. Source: News

Entirely comprising oil-directed units, the US drilling rig count increased by 10 during the week ended Aug. 19, according to data from Baker Hughes Inc. Source: News

The long-running dispute between Australia and Timor Leste concerning maritime boundaries in the Timor Sea is being played out in the Permanent Court of Arbitration in The Hague starting Aug. 29. Source: News

Statoil ASA said it has cut its planned spending on Johan Sverdrup field in the North Sea to ensure profitability even if oil prices were to fall drastically. Statoil also forecast as much as a 40% increase in initial daily production capacity. Source: News

The light, sweet crude oil price for October delivery gained modestly on Aug. 26 to settle above $47.60/bbl on the New York market upon uncertainty about a possible increase in US interest rates. But crude prices fell in early trading Aug. 29. Source: News

Market change threatens to undermine important work starting in the US on vehicle fuel economy and greenhouse-gas (GHG) emissions. The gasoline market has defied expectations in place when Congress created corporate average fuel economy (CAFE) standards a generation ago. It probably will defy expectations underlying decisions made now. Source: News

If you’re a US voter still stymied by the choice of which candidate will receive your coveted vote on Nov. 8 for the nation’s highest office, you might take comfort in knowing that the presidential election field has just increased by one. That is, of course, if you first accept as fact the announcement made […]