Rio de Janeiro, June 8, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its total production of oil and natural gas in May was of 2.83 million barrels of oil equivalent per day (boed), 5% higher than the volume produced in April (2.69 million boed) and 2% higher than the volume produced in May 2015, of which 2.64 million
Saudi Arabia continues its plan to protect market share Saudi Arabia today cut prices of its oil to customers in major markets including Europe, Asia and the Mediterranean in the hopes of defending its market share. The move is seen as a reaction to Iran’s return to global oil markets. Saudi Arabia discounted even its best-quality crude, similar in quality
2016 global E&P spending expected to decline 15%-20% in 2016: Barclay’s “That’s what Friends are For” was the Billboard Top 100 song the last time this happened. Exploration and production spending is expected to decline by 15% this year. That’s on top of a 23% decline last year, making 2016 the eighth decline in global spending in the last 31
We grow to simplify In Shell’s (Ticker: RDSA) management day meeting Nov. 3, 2015, the executive team discussed the current state of the oil and gas industry, commodity prices, the BG acquisition and Shell’s plans upcoming. Some comments from CEO Ben van Beurden on the call today appear below: “I’m determined that Shell will be at the forefront … and will
Mexico’s state-owned oil major is on pace to record its lowest annual production in three decades Petroleos Mexicanos (Pemex) has transformed its energy policies and welcomed investments with open arms, but the progress is no match for the 53% drop in Mexico crude oil basket prices from one year ago. Pemex posted a loss of 167.6 billion pesos, or $9.9
Allowing independent refiners to import could boost demand China’s Ministry of Commerce announced today that it will grant licenses to two independent refineries to directly import crude oil as the country works to allow more room for independent players in its oil and gas markets, reports Economic Times. Up until now, about 90% of China’s crude imports have gone to
New Iranian Oil Volumes Could Hit the Market as Early as Oct. 2015 Chairman of global oil and gas consultancy FGE, Dr. Fereidun Fesharaki, in a conference call organized by Credit Suisse, said he believes that the basics of an agreement are already in place and that a deal could be announced in the first week of July. Dr. Fesharaki
Calling it quits in Poland ConocoPhillips (ticker: COP) has joined the ranks of oil majors saying “no more” to shale gas development in Poland. Tim Wallace, ConocoPhillips country manager in Poland, said the company would not continue shale gas development in Poland, reports Reuters. “We understand the disappointment surrounding this difficult decision,” said Wallace, but “unfortunately, commercial volumes of natural
FORT WORTH, Texas, March 29, 2013 (GLOBE NEWSWIRE) — Quicksilver Resources Inc. (KWK) announced today that it has executed an agreement to sell an undivided 25% interest in its Barnett Shale oil and gas assets for US$485 million to TG Barnett Resources LP, a wholly-owned U.S. subsidiary of Tokyo Gas Co., Ltd. Quicksilver will remain as operator of the assets.
Over 100 presenting companies with operations spanning 40 countries. More than 2,000 investment professionals in attendance. Big Names. Big Conference. Get in Here! EnerCom has set the dates for The Oil & Gas Conference® 18 (www.theoilandgasconference.com). This Conference will be held in Denver on August 11-15, 2013. EnerCom’s The Oil & Gas Conference® offers an exceptional roster of speakers,
ERHC Energy Inc. (ticker: ERHE) is a publicly traded American company with oil and gas assets in Sub-Saharan Africa. Over the last year, ERHC has acquired additional exploration blocks in Chad and Kenya to complement its existing offshore blocks in the Joint Development Zone offshore São Tome and Principé. During October 2012, ERHC received formal shareholder approval to increase the
NATURAL GAS INVENTORY (Week Ended 10/5/12) Current: 3,725 Bcf Actual Injection/(Withdrawal): 72 Bcf Economist Average Estimate: 79 Bcf Previous: 3,653 Bcf Click here for the chart with five year averages. NATURAL GAS IN THE MEDIA *Houston firm drilling exploratory well in NY shale – Houston Chronicle A Houston company has begun drilling a vertical well to explore the potential of
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