Attacks on energy facilities on Libya’s coast indicate a “severe and rising threat” and raise prospects for further disruptions to oil supply, warns a risk analyst at JLT Specialty, London. Source: News
Equities and oil
Equity markets have joined crude oil in alarming contraction. Crude prices began their descent in the middle of 2014, flirted with recovery during March-May last year, then foundered, and now sink. Source: News
Earthquakes rattle Oklahoma
During the past 18 months, this editor has worked to become more knowledgeable about induced seismicity as it relates to earthquake swarms. A swarm involves numerous earthquakes happening in a local area in a relatively short period although a swarm’s duration can vary from days to weeks. Source: News
With ethanol case spent, fans resort to dragon-slaying
With arguments crumbling for governmental support of ethanol, politicians have joined lobbyists to slay the “big-oil” dragon. Source: News
BHI: Pushed down mostly by gas, US rig count drops 13 units
Gas-directed rigs represented most of the decline in the US rig count for the second consecutive week, giving up 8 of the 13 total units to go offline during the week ended Jan. 22, according to Baker Hughes Inc. data. Source: News
DOI proposes methane emissions limits for operations on public lands
The US Department of the Interior proposed regulations aimed at reducing methane emissions from oil and gas operations on public and tribal lands. Three leading industry associations immediately said the proposed rules are unnecessary because operators already are curbing methane releases voluntarily. Source: News
Nigeria shutters two refineries following pipeline attacks
Nigerian National Petroleum Corp. (NNPC) has stopped production at two of its three major refineries amid disruptions to feedstock availability following mid-January attacks by Nigerian militants on crude oil pipelines that supply the processing sites. Source: News
API: Fourth-quarter US completions down 51%
US oil and gas well completions in the fourth quarter of 2015 fell 51% from the total of the comparable quarter a year earlier, reports American Petroleum Institute. Source: News
Eni completes sale of big Saipem stake
Eni SPA has completed its sale of 12.5% plus one share of construction and drilling contractor Saipen SPA to Fondo Strategico Italiano SpA. Source: News
Contract terminated for Athena FPSO, extended for Umuroa FPSO
Ithaca Energy Inc. and BW Offshore Ltd. have agreed on a termination of the contract for the BW Athena floating production, storage, and offloading vessel, which will be demobilized in February. Source: News