BP PLC and Oman Oil Co. have signed a heads of agreement with the government of Oman to amend the Oman Block 61 exploration and production sharing agreement (EPSA), extending the block’s license area and enabling further development of the major Khazzan tight gas field. Source: News
MARKET WATCH: NYMEX, Brent crude oil prices rally to end week
Light, sweet crude oil prices rallied Feb. 12 and jumped more than $3/bbl, closing at $29.44/bbl on the New York market, which broke a six-session losing streak. Brent crude oil prices on the London market also jumped by more than $3/bbl that day. Source: News
Statoil farms into second block offshore Uruguay
Statoil ASA has agreed to acquire 35% working interest in exploration Block 15 in the Pelotas basin offshore Uruguay from Tullow Oil PLC. Source: News
Ireland awards first phase of 2015 license round in Porcupine basin
Ireland’s Department of Communications, Energy & Natural Resources has awarded 14 new licensing options in the country’s southern Porcupine basin. The 2015 Atlantic Margin licensing round recently concluded with 43 applications received by the September 2015 deadline, a number of which included seismic acquisition for later this year. Source: News
Watching Government: What led to Obama's decision?
Source: News
E&P startup agrees to buy WPX's Piceance unit for $910 million
Houston-based exploration and production startup Terra Energy Partners LLC has agreed to acquire WPX Energy Rocky Mountain LLC, a wholly owned subsidiary of WPX Energy Inc., Tulsa, for $910 million. The deal is expected to close in the second quarter. Source: News
Obama's proposed fiscal 2017 budget includes $10.25/bbl crude oil tax
US President Barack Obama proposed a $10.25/bbl crude oil tax to fund transportation improvements in addition to doubling federal clean energy research and development outlays in the final federal budget proposal of his presidency. Source: News
Obama's oil fee
When the President of the United States proposes to wreck what until recently had been a rare source of economic growth, his reasons should be sound and his prospects for success, solid. Source: News
Looking ahead, not back
It’s mid-February, and thank the petroleum gods and goddesses for that. For the OGJ technology editors, it means the 2016 conference season is about to kick off, and it couldn’t be arriving at a more critical time for this industry. Source: News
Low oil prices push liberalization of GCC project finance
Slumping crude prices are forcing oil-producing countries of the Gulf Cooperation Council to finance projects with funding sources other than national treasuries and bank debt, including capital markets and private investment. Source: News