Offshore oil and gas regulatory changes since the 2010 Macondo deepwater oil well blowout and crude oil spill do not do enough to place the onus on industry to reduce risk, nor sufficiently empower the federal regulator to proactively oversee industry’s efforts to prevent a similar disaster, the US Chemical Safety Board said in a […]
Supply constraint’s upward shift helps oil industry foes
One subtle but politically important result of the oil market’s upheaval is relocation of supply constraint. Source: News
Statoil halts output at Gullfaks B after helicopter crash
Thirteen are feared dead after a CHC helicopter on assignment for Statoil ASA crashed on Apr. 29 outside Turoy in Fjell municipality outside Bergen, Norway. Source: News
House hearing on BLM’s proposed methane rule shows key disagreements
Opponents and supporters of the US Bureau of Land Management’s proposed venting and flaring rule for oil and gas producers quickly defined their main differences at an Apr. 27 House Natural Resources subcommittee hearing. Source: News
BHI: US rig count falls for 34th time in 36 weeks, but stabilization seen
The US drilling rig count declined 11 units to 420 rigs working during the week ended Apr. 22, according to data compiled by Baker Hughes Inc. Source: News
ExxonMobil first-quarter earnings plunge $3.1 billion
ExxonMobil Corp. posted first-quarter earnings of $1.8 billion compared with $4.9 billion a year earlier. The impacts of sharply lower commodity prices and weaker refining margins were partly offset by strong chemical results. Source: News
Chevron posts $725-million first-quarter loss
Chevron Corp. posted a first-quarter loss of $725 million compared with earnings of $2.6 billion in first-quarter 2015. Foreign currency effects decreased earnings in the quarter by $319 million compared with an increase of $580 million a year earlier. Source: News
Turkmenistan advances plans for second GTL plant
Turkmenistan is moving forward with construction of a second grassroots gas-to-liquids plant to be built at Ovadan-Depe, near the country’s capital city of Ashgabat. Source: News
Cedigaz: Gas market imbalance to last in the short, medium terms
Worldwide natural gas consumption in 2015 was characterized by moderate growth, up 1.6% to 3,472 billion cu m, after having stagnated in 2014, according to first estimates of Cedigaz, the international association for natural gas. Source: News
Hollub’s move to Oxy chief executive complete
Vicki A. Hollub has been appointed by the board of Occidental Petroleum Corp., Houston, as president and chief executive officer, completing the previously disclosed succession plan with Stephen I. Chazen. Source: News