In its October Short-Term Energy Outlook, the US Energy Information Administration forecasts US crude oil production to average 8.7 million b/d in 2016 and 8.6 million b/d in 2017. Forecast production in 2017 is almost 100,000 b/d higher than in the previous forecast, as a result of changes in modeling methodology applied to the Lower […]

Bahrain National Gas Expansion Co. (BNGEC), a subsidiary of the National Oil & Gas Authority (NOGA) of Bahrain’s business development and investment arm NOGA Holding Co. (Nogaholding), has let a contract to an affiliate of JGC Corp., Yokohama, Japan, to build additional gas pipelines and storage tanks as part of a capacity expansion under way […]

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, rose 4.9 million bbl during the week ended Oct. 7 compared with the previous week’s total, according to data from the US Energy Information Administration. Source: News

Four Texas companies agreed to enter guilty pleas and pay $3.5 million to settle federal charges that they violated the Clean Air Act at two oil and chemical processing facilities in the state, the US Department of Justice and Environmental Protection Agency jointly announced on Oct. 12. Source: News

Just days after announcing its withdrawal from the Great Australian Bight, BP Australia has acquired an 80% equity and operatorship of offshore Western Australian permit WA-409-P, which contains a giant Triassic-age Mungaroo formation prospect in the Carnarvon basin named Ironbark. Source: News

US light, sweet crude oil prices dropped on the New York market Oct. 12 to settle just above $50/bbl after the Organization of Petroleum Exporting Countries reported OPEC’s production in September rose 220,000 b/d to 33.39 million b/d, which was the highest level since 2008. Source: News

Eduardo Ojea Quintana has been chosen to succeed Damian Scokin as chief executive officer of industrial transportation firm Ultrapetrol (Bahamas) Ltd. Source: News