OMV AG made a natural gas discovery with its Latif South-1 exploration well drilled in Pakistan’s Sindh Province, about 25 km south of Latif gas field. Wireline logging and testing operations confirmed the discovery flowed 2,500 boe/d of gas from Lower Goru Intra C sands. The company said further appraisal is needed to confirm the […]
Statoil reports startup of Gullfaks subsea wet gas compression in North Sea
Statoil ASA reported startup of a wet gas compressor in Gullfaks field from the seafloor of the North Sea. Source: News
Phillips 66 slashes 2016 capital budget by $1 billion
Phillips 66 reported plans for a 2016 capital budget of $3.6 billion, excluding Phillips 66 Partners’ capital program. That’s down from the $4.6 billion the Houston-based firm budgeted for 2015. Source: News
INEOS buying offshore UK interests of DEA
INEOS, Rolle, Switzerland, has agreed to acquire the oil and gas properties of DEA Deutsche Erdole AG on the UK Continental Shelf. Source: News
US appeals court delays Waters of the US rule’s implementation
A federal appeals court delayed implementation of the controversial Waters of the United States (WOTUS) rule until it could fully consider its jurisdiction in states’ legal challenges to the regulation. The Sixth Circuit US Court of Appeals order stayed the US Environmental Protection Agency’s and Army Corps of Engineers (ACE) implementation of the rule that […]
MARKET WATCH: NYMEX November oil price gains modestly, closed below $50/bbl
Light, sweet crude oil prices for November delivery traded at $50/bbl briefly Oct. 9, but settled below that level to close out the week with a slight gain while Brent crude oil futures on the London market dropped modestly. Source: News
What about risks of leaving oil and gas in the ground?
When the leader of an important central bank considers it prudent not to develop hydrocarbon resources, the oil and gas industry should pay attention.= Source: News
PHMSA proposes new hazardous liquids pipeline safety regulations
Under newly proposed hazardous liquid pipeline safety regulations, the US Pipeline and Hazardous Materials Safety Administration would require pipelines to have leak-detection systems and timelines for inspecting affected segments following an extreme weather event or natural disaster, the US Department of Transportation agency said. Source: News
Witnesses cite pipeline safety progress, unfinished work
Significant progress has been made in making US oil and gas pipelines safer and reducing the number of accidental releases, government and industry witnesses agreed at a US Senate Commerce, Science, and Transportation subcommittee hearing. But they also emphasized that more work needs to be done. Source: News
Three blocks awarded in Mexico's Round One second tender
Mexico’s National Hydrocarbons Commission (CNH) awarded three of five shallow-water blocks in its Round One second tender, a more successful auction than the first in July that received just 2 bids on 14 blocks (OGJ Online, July 16, 2015). Source: News