Petroleo Brasileiro SA (Petrobras) confirmed the discovery of “good-quality” oil in reservoirs showing “excellent productivity” via its 3-BRSA-1305A-RJS well, also known as 3-RJS-739A, in the northwestern portion of the Libra block in the presalt Santos basin. Source: News
Lukoil: Oil reserves rise sixfold at field in Timan-Pechora
PJSC Lukoil says recoverable crude oil reserves have increased more than sixfold at a field discovered in late 2011 in the Timan-Pechora basin in northern Russia. Source: News
29 Feb 2016 11:56:20 EST – The latest stock information is now available for your stocks
XOM Last 81.85 Change +0.10 % Change 0.12% Volume 4,084,125 As of: 29 Feb 2016 11:56:20 EST View: Stock Quote | News CVX Last 84.7764 Change +0.4264 […]
Framework agreement inked for Horn of Africa multiproduct fuel line
Partners have signed a framework agreement for the construction of a 550-km, 240,000-b/d pipeline that will transport jet fuel, diesel, and gasoline from the port of Djibouti on the Gulf of Aden to storage facilities in Awash, near the capital city of Addis Ababa in central Ethiopia. Source: News
ONGC, Essar make gas find at shallower depths offshore Mumbai
Essar Energy Ltd. reported the discovery of natural gas in the Pliocene formation offshore India’s west coast. Essar’s consortium partner, Oil & Natural Gas Corp. Ltd., is operator and has 70% interest. Source: News
29 Feb 2016 11:01:27 EST – The latest stock information is now available for your stocks
XOM Last 81.86 Change +0.11 % Change 0.13% Volume 2,854,870 As of: 29 Feb 2016 11:01:27 EST View: Stock Quote | News CVX Last 84.85 Change +0.50 […]
Devon slashes capex for 2016 by 75%, plans to trim workforce by 20%Devon slashes capex for 2016 by 75%, plans to trim workforce by 20%
Devon Energy Corp., Oklahoma City, plans capital expenditures in 2016 of $1.17-1.45 billion, down from $5.26 billion in 2015. That includes the firm’s exploration and production capital investment for 2016, which is estimated to range $900 million-1.1 billion, also a 75% decrease from that of 2015. Source: News
Watching Government: Ohio's earthquake response
More than 4 years after a light earthquake in Youngstown made national headlines, Ohio regulators believe they are getting induced seismicity from oil and gas waste disposal wells under control. Source: News
Russia's economy is surviving global oil price plunge, forum told
Russia’s general economy is withstanding depressed global crude oil prices now despite its heavy reliance on crude exports because the government adopted different financial policies in 2008, a Yale University International Security Studies official told a Washington, DC, audience. Source: News
OGUK: Investment in North Sea projects plunges 90% in 2016
Sparking fears for the long-term future of the industry, the UK upstream segment is expected to approve fewer than £1 billion in spending on new North Sea projects compared with an average of £8 billion/year over the past 5 years, according to Oil & Gas UK’s 2016 Activity Survey published Feb. 23. Source: News