Integrated Environmental Technologies (IET; Ticker: IEVM) is now producing its Excelyte biocide for use in 174 wells across the Uinta Basin in Utah and the Permian Basin in New Mexico. The biocide reduces the amount of hydrogen sulfide (H2S) down-well to near zero, reducing maintenance costs associated with corrosive damage caused by H2S. IET increased the number of wells it
Russia’s gas giant faces falling demand at home and abroad, lowest output in company history Gazprom (ticker: OGZPY), Russia’s state-owned gas giant, is seeing rapidly declining production as demand for its gas falls both at home and abroad. The company’s output in June fell by 19% compared to the same month in 2014 to a record low of 24.7 Bcm,
Phillips 66 Partners LP (PSXP) announces that the board of directors of its general partner declared a second-quarter 2015 cash distribution of $0.40 per common unit. This quarter’s distribution represents an increase of 8 percent over the previous quarterly distribution of $0.37 per unit and a 33 percent increase over second-quarter 2014. The distribution increase is consistent with previous guidance
Oil demand driven by growth in air travel and vehicle usage China’s implied oil demand grew 3.5% in June, as rising air travel and vehicle usage boosted fuel consumption, reports Reuters. A drop in passenger car sales amid recent stock market weakness could limit future demand growth, however. China consumed about 10.56 MMBOPD of oil in June, up from 10.20
M&A activity down in terms of volume, but Shell-BG megadeal pushes overall dollar value up The second quarter of 2015 showed the largest amount of activity in mergers and acquisitions (M&A) in the oil and gas sector by value since the fourth quarter of 2012, reports the Energy Information Administration (EIA). $115 billion of M&A activity was reported in Q2,
Tesoro Logistics LP (TLLP) (“TLLP”) and QEP Midstream Partners, LP (QEPM) (“QEPM”) today announced the completion of their previously announced merger. As a result of the merger, QEPM is now a wholly owned subsidiary of TLLP and its common units will cease trading on the New York Stock Exchange. TLLP common units will continue to trade on the New York
