Inpex Corp. has received exploration rights to 6,116-sq km Block 4 in Abu Dhabi from Abu Dhabi National Oil Corp. With a 100% interest in the exploration phase, Inpex will invest as much as $176 million, including a participation fee, to explore the area between Abu Dhabi city and the boundary with Dubai and to assess […]
Cooper Energy completes offshore phase of Sole field development
Cooper Energy Ltd., Adelaide, has completed the offshore construction phase of its wholly owned Sole gas field development in Bass Strait. The company said installation and testing of the 67-km control umbilical connecting the field’s two subsea production wells to the onshore processing plant near Orbost on the east Gippsland coast was finalized last week. […]
Sempra LNG makes executive appointments
Lisa Glatch has been named chief operating officer of Sempra LNG, a unit of Sempra Energy. Justin Bird has been named president. Both will report to Carlos Ruiz Sacristan, chairman and chief executive officer of Sempra North American Infrastructure. Source: News
MARKET WATCH: Brent holds above $67/bbl despite world economic concerns
Light, sweet crude oil for April dropped modestly on the New York market Mar. 15 but still settled just above $58.50/bbl on Mar. 15 while Brent crude oil for May also dropped modestly in London but again settled above $67/bbl. Source: News
Reform can steer Algeria from ruin like Venezuela’s
Memories of a “black decade” and comparisons with collapsing Venezuela flow inescapably from the political tumult in Algeria that has curtailed the 20-year presidency of octogenarian Abdelaziz Boutefika. Neither fate is inevitable. Source: News
BLM issues modified greater sage grouse habitat management plans
The US Bureau of Land Management issued records of decision amending greater sage grouse habitat management plans covering nearly 60 million acres of sagebrush steppe in seven Western states, several of which have oil and gas activity. “We’re pleased that the final plans are out now and moving forward into implementation,” Western Energy Alliance Pres. […]
Western Australia EPA withdraws revised GHG guidelines
Western Australia’s Environmental Protection Authority has withdrawn its revised guidelines on mitigation of greenhouse gases announced last week, promising instead a greater consultation process with companies potentially impacted. The move follows criticism from industry as well as a statement from Environment Minister Stephen Dawson saying that independent WAEPA guidance is not government policy, nor is it […]
Baker Hughes: US rig count edges down single unit to 1,026
The US drilling rig count is down 1 unit to 1,026 rigs working for the week ended Mar. 15, according to Baker Hughes data. The count is up 36 units from the 990 rigs working this time a year ago. With a 3-unit loss over last week, there are 1,001 rigs drilling on land. The […]
IEA: Oil supply cushion insures against Venezuela production loss
Until recently, Venezuela’s oil production had stabilized at about 1.2 million b/d. However, the country’s recent electricity crisis has paralyzed it for substantial periods of time. In its Oil Market Report for March, the International Energy Agency warned that, as Venezuela’s industry operations were seriously disrupted by the crisis, ongoing losses could present a challenge […]
Oil-producing communities should prepare for transition, forum told
Communities that have depended economically on coal are facing impacts now that communities that similarly rely on oil and gas will face in the future, speakers suggested at a Columbia University School of International and Public Affairs event. Such communities should consider partnerships with producers to help retrain employees and others who want to stay, […]