It is time for the world to stop arguing and take action if it expects to make the necessary energy transition to meet climate goals outlined in the 2015 Paris accords, the chief economist for Equinor ASA said. “There’s an urgent need to stop talking about scenarios and start actually doing something. It’s an enormous […]

The International Energy Agency has moderated its global oil demand outlook, according to its October Oil Market Report. IEA now forecasts a growth of 1.3 million b/d for 2018 and 1.4 million b/d for 2019, respectively, a reduction of 110,000 b/d for both years from previous predictions. This is due to a weaker economic outlook, […]

The Federal Reserve Bank of Kansas City’s third-quarter energy survey revealed accelerated growth in energy activity in the Tenth District, while expectations for future activity remained high. The Kansas City Fed’s quarterly energy survey monitors oil and gas-related firms located or headquartered in the Tenth District, with results based on total firm activity. Source: News

Formation of gas hydrates has delayed restart of Erskine gas and condensate field in the UK North Sea, where production was suspended on Jan. 16 because of a blocked condensate pipeline. Serica Energy PLC, an 18% partner, said a new 26-km section of pipeline has been laid between the Lomond platform, to which Erskine production flows, […]

State-owned Oil India Ltd. reported two natural gas discoveries in Assam, Northeast India. The West Lohali-1 well encountered a sand reservoir in the Oligocene Barail formation, while the Dhakuwal-1 well encountered two zones in the Eocene LK+TH formation. Source: News

Oil and gas operators’ activity in the US Gulf of Mexico continues to be monitored in the aftermath of evacuations from platforms and rigs following the landfall of Hurricane Michael on the northeastern Gulf Coast Oct. 10. Source: News

Both light, sweet crude oil on the New York market and Brent in London toppled by more than $2/bbl on Oct. 11 following a 2-day selloff across equity markets worldwide. “Brent even dipped briefly below $80/bbl,” Commerzbank analysts said of late Oct. 11 trading. “Headwind came once again from further falling stock markets,” they said […]

Novatek said drilling and testing by subsidiary Arctic LNG 3 have confirmed a natural gas and condensate discovery on the North-Obskiy license in shallow waters of Ob Bay in Russia’s Yamal-Nenets Autonomous Region. Source: News

Shell UK Ltd., with partners Rockrose Energy and Dyas UK Ltd., reported reaching a final investment decision to develop Arran gas and condensate field in the UK North Sea. Shell has become the operator of the Arran project. Source: News

Aspen Midstream is building a large-diameter residue gas pipeline and both a lean and rich gas gathering system in the Austin Chalk play in Texas. Aspen’s Austin Chalk System is in Giddings field. The system is supported by a combined total of about 150,000 acres of long-term dedications from multiple producers. Aspen is engaged in […]