Oil prices moved upward Nov. 26 as the market looked to the upcoming Dec. 6 meeting of the Organization of Petroleum Exporting Countries in Vienna where it is expected that Saudi Arabia will propose production cuts of as much as 1.4 million b/d. Source: News
Western Australia government lifts fracing ban on existing leases
The Western Australian government has reported a lifting of the moratorium on hydraulic fracturing on existing petroleum exploration and production licenses in the state following the findings of an independent scientific inquiry. Source: News
Carbon dioxide storage project off UK wins early nod
A project that would store carbon dioxide in a deep saline aquifer off the UK has won an early nod from the Scottish government. Crown Estate Scotland awarded a lease option to Acorn CCS, a project of Pale Blue Dot Energy, Banchory, Scotland, that would capture CO2 emitted by industries near the St. Fergus Gas Terminal and […]
East Timor moves to majority stake in Sunrise gas field
The government of East Timor has moved to a majority interest in the Greater Sunrise natural gas fields with the acquisition of Royal Dutch Shell PLC’s 26.6% stake for $300 million. The acquisition follows the government’s purchase of ConocoPhillips’s 30% stake in the fields for $350 million early in October and now brings East Timor’s […]
USGS: Federal lands fossil fuel extraction emissions fell in 2005-14
Estimated emissions from fossil fuel extraction on federal lands of the three main gases associated with climate change went down from 2005 to 2014, a US Geological Survey study released on Nov. 23 said. Source: News
Sembcorp to modify FPSO for Cheviot field
Sembcorp Marine Rigs & Floaters Pte. Ltd. has been chosen to modify, repair, and extend the life of the Petrojarl Varg floating production, storage, and offloading vessel, which will anchor development of Cheviot oil field and satellites in the UK North Sea. Source: News
Another flat drilling year seen for Canada
Another flat drilling year is in prospect for Canada, according the Canadian Association of Oilwell Drilling Contractors. Source: News
China, Philippines sign oil and gas MOU
The governments of China and the Philippines have signed a memorandum of understanding for cooperation in oil and gas exploration and development, easing a territorial dispute in the South China Sea. Source: News
DNO makes cash offer for Faroe shares
DNO ASA, Oslo, made an unsolicited cash offer for all shares of Faroe Petroleum PLC, Aberdeen, that it does not own. Source: News
Wintershall gets 10% of Ghasha Concession
Wintershall Holding GMBH has received a 10% share of the Ghasha Concession covering development of Hail, Ghasha, Dalma, and other sour natural gas fields offshore Abu Dhabi. Source: News