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BP’s Robert Dudley sees oil price at $50 per barrel for rest of 2016

BP’s Robert Dudley sees oil price at $50 per barrel for rest of 2016

Robert Dudley says same level or a little above for 2017 VLADIVOSTOK, Russia, Sept 2 (Reuters) – BP Chief Executive Robert Dudley said on Friday he expected global oil prices to remain at around $50 per barrel till the end of this year and at the same level or even “little above” in 2017, he told reporters […]

By September 1, 2016 0 Comments Read More →
US rig count up for eighth week in row -Baker Hughes

US rig count up for eighth week in row -Baker Hughes

Rig count down in Canada by five Aug 19 (Reuters) – U.S. drillers this week added oil rigs for an eighth consecutive week, the longest recovery streak in the rig count in over two years, as crude prices rebounded toward the key $50-a-barrel mark that makes the return to the well pad viable. Drillers added […]

By August 19, 2016 0 Comments Read More →
Oil prices up, Brent over $50/bbl at 6-week high on OPEC freeze talk

Oil prices up, Brent over $50/bbl at 6-week high on OPEC freeze talk

Oil prices, despite up over 20 per cent in August By Devika Krishna Kumar NEW YORK, Aug 18 (Reuters) – Oil prices rose on Thursday for a sixth straight day, with Brent crude rising above $50 for the first time in six weeks as the world’s biggest producers prepared to discuss a possible freeze in production […]

By August 18, 2016 0 Comments Read More →
Norwegian oil firms plan cut carbon emissions in decade to 2030

Norwegian oil firms plan cut carbon emissions in decade to 2030

Norwegian oil and gas companies to cut GHGs by 2.5 million tonnes by 2030 OSLO, Aug 17 (Reuters) – Norwegian oil and gas companies plan to cut greenhouse gas emissions by 2.5 million tonnes in the decade to 2030 as part of efforts to rein in global warming, the Norwegian Oil and Gas Association said on […]

By August 17, 2016 0 Comments Read More →
Industry accuses BLM of retroactively canceling Western natural gas leases

Industry accuses BLM of retroactively canceling Western natural gas leases

“BLM is sowing further doubt in the federal onshore program and accelerating the drive off federal lands…” – Sgamma Colorado producers are up in arms after the Bureau of Land Management canceled 25 natural gas leases in the White River National Forest in late July. The U.S Geological Survey says the Piceance Basin is among the largest natural […]

July 2016 rig count up 32 from June – Baker Hughes

July 2016 rig count up 32 from June – Baker Hughes

Worldwide rig count for July was 1,481, up 74 from the 1,407 counted in June Aug 5 (Reuters) – U.S. drillers this week added oil rigs for a sixth consecutive week, according to a closely followed report on Friday, despite crude prices falling to April lows below $40 a barrel this week. Some producers are […]

Magellan reports decline in Q2 BridgeTex pipeline volumes

Magellan reports decline in Q2 BridgeTex pipeline volumes

BridgeTex pipeline runs from West Texas to Houston HOUSTON, Aug 2 (Reuters) – Shipments on Magellan Midstream Partners’ 300,000 barrel per day (b/d) BridgeTex pipeline from West Texas, to Houston, Texas fell to around 210,000 b/d in the second quarter, as shippers opted to move their minimum requirements, executives said on Tuesday. The midstream operator also […]

By August 2, 2016 0 Comments Read More →
Oil down 3 pct after modest U.S. draw; swings seen pre-UK vote

Oil down 3 pct after modest U.S. draw; swings seen pre-UK vote

Oil prices volatile in run up to Brexit referendum By Barani Krishnan NEW YORK, June 22 (Reuters) – Oil prices settled down more than 1 percent on Wednesday after the U.S. government reported a smaller-than-expected inventory drawdown, and as investors fretted about Britain’s upcoming vote on whether to stay in the European Union. Crude futures rose […]

BP approves investment in Egypt gas field 15 months after discovery

BP approves investment in Egypt gas field 15 months after discovery

BP working quickly to develop Mediterranean’s untapped fossil fuel reserves LONDON, June 20 (Reuters) -BP has approved investment in the first phase of developing the large Atoll gas field offshore Egypt, only 15 months after it first announced its discovery. The British oil major, which declined to give an investment figure for the project, said […]

Japan doubles down on coal power as trading houses curb investment

Japan doubles down on coal power as trading houses curb investment

Japan burning record amounts of coal after Fukushima disaster By Aaron Sheldrick and Osamu Tsukimori TOKYO, June 17 (Reuters) – As most developed economies turn their back on coal, Japan is burning record amounts for electricity generation and plans to use even more of the dirtiest fossil fuel to fill the gap after the Fukushima […]