India is poised to replace China as the world’s center of oil-demand growth, according to authors of a study published by the Oxford Institute for Energy Studies. Source: News
Woodside terminates Balnaves FPSO contract
Woodside Petroleum Ltd., Perth, has terminated its contract with Malaysia’s Bumi Armada for the charter of the Armada Claire floating production, storage, and offloading vessel, which is stationed in Balnaves oil field in the Carnarvon basin offshore northwest Australia. Source: News
Santos completes sale of interest in Kipper field
Santos Ltd., Adelaide, has completed the sale of its 35% interest in Kipper gas-condensate field in offshore Gippsland basin to Mitsui E&P Australia for $520 million (Aus.). Source: News
Statoil cancels contract for COSL Innovator
Statoil ASA has terminated its contract with COSL Offshore Management AS for the COSL Innovator mobile drilling rig, which has been operating in Troll field west of Bergen in the North Sea. Source: News
MARKET WATCH: NYMEX, Brent oil prices each jump by more than $1/bbl
Light, sweet crude oil prices for April delivery on the New York market climbed $1.35 to settle at nearly $36/bbl on Mar. 4, marking a third consecutive week for price gains. The number of active US oil rigs dropped to the lowest level since 2009. Source: News
Barnett-sourced Forestburg provides further opportunity in Fort Worth basin
Geochemical analysis suggests that the Barnett shale is the source rock for the large majority of producible hydrocarbons in the Fort Worth basin, but there is the possibility that other strata may have also contributed. Source: News
IHS CERAWeek: Al-Naimi 'optimistic' that world oil market will rebalance
Ali Al-Naimi, Saudi Arabia minister of petroleum and mineral resources, remains “optimistic” that the world oil market will rebalance supply with demand, and therefore usher in higher oil prices. Source: News
Stocks and oil prices
Oil prices and the stock market have moved in close alignment recently, drawing much attention from the financial press. Source: News
IHS CERAWeek: US 'revolutionizing' growing global LNG market, speaker says
A decade after forecasts of increased construction of LNG import terminals in the US, the first LNG export shipment of this century from the Lower 48 departed Sabine Pass, La., last month for Brazil. Source: News
Colliding categories
Degeneration of politics into paralyzing calumny reflects unfortunate habits of thought dominating official approaches to energy. For the oil and gas industry, implications are subtle but important. Source: News