The ties between infrastructure, politics, and terrorism lie close to the surface. Infrastructural development falls largely on a given country’s politicians and bigger companies. Source: News
EIA: US oil output in November edged down to 9.32 million b/d
US crude oil production during November 2015 totaled 9.32 million b/d, a decline of less than a percent from the October total but still up 1.3% compared with the November 2014 total, according to data from the US Energy Information Administration mostly based on data from its EIA-914 survey. Source: News
Graham named CEO of Memorial Resource Development
Jay Graham, former co-chief executive officer of WildHorse Resources II, has been named chief executive officer and director of Memorial Resource Development Corp., Houston. Source: News
Democrats raise methane questions as Senate debates broad energy bill
California’s two US senators—Barbara Boxer and Dianne Feinstein—said that they will introduce an amendment next week to wide-ranging energy legislation currently on the Senate floor. It would direct US Energy Sec. Ernest G. Moniz to lead a broad federal review of the cause and the response to a leak at Southern California Gas Co.’s Aliso […]
BHI: US rig count drops 18 units; global count could fall 30% in 2016
With oil-directed rigs representing two thirds of the decline, the US drilling rig count fell 18 units to 619 during the week ended Jan. 29, the latest Baker Hughes Inc. data show. Source: News
Indian state-run refiners propose grassroots refining complex
Public-sector refining firms Indian Oil Corp. Ltd. (IOCL), Bharat Petroleum Corp. Ltd. (BPCL), and Hindustan Petroleum Corp. Ltd. (HPCL) are planning a joint investment for construction of a grassroots megarefinery to be built along the coast of India’s Maharashtra state. Source: News
IHS: Hedging by North American producers down
North American exploration and production companies enter a year of commodity-price weakness with just 15% of their total production hedged, reports IHS Energy. Source: News
Lundin starts to drill Maligan exploration well off East Malaysia
Lundin Malaysia BV, a wholly owned unit of Lundin Petroleum AB, Stockholm, has started to drill the Maligan exploration well on Block SB307/SB308 offshore East Malaysia. Source: News
Second contract let for hook-up services for Ichthys LNG project
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) has let a contract to engineering firm Clough Ltd., Perth, for hook-up services on the Ichthys LNG project’s floating production, storage, and offloading facility. Source: News
Phillips 66 records sharp quarterly drop in earnings
Phillips 66 reported fourth-quarter 2015 earnings of $650 million, a steep decline from earnings of $1.58 billion in the third quarter due in large part to lower realized refining margins. Its adjusted earnings, excluding special items of $60 million, were $710 million. Source: News