In remarks emphasizing the importance of overcoming differences and working together to continue national progress, US President Barack Obama called for a stronger national effort to develop cleaner energy and move away from fossil fuels in his final State of the Union address. Source: News

BP PLC has recently told its workforce of plans to further reduce staff in its global upstream oil and natural gas segment by yearend 2017. Source: News

The US Energy Information Administration has sharply cut its crude oil price forecasts through 2016 in its Short-Term Energy Outlook for January, which is the first to include a forecast for 2017. The cut is because of the continuing threat of a prolonged oversupply of crude as well as global inventory builds. Source: News

PetroVietnam Gas Joint Stock Corp. (PV Gas), a subsidiary of state-owned Vietnam National Oil & Gas Group (PetroVietnam), has let a contract to UOP LLC and Honeywell Process Solutions (HPS), both divisions of Honeywell International Inc., Des Plaines, Ill., to provide gas processing and automation technology for its Ca Mau gas plant in the U […]

US President Barack Obama should recognize why the US energy outlook improved during his administration and not allow regulations to be imposed that would stifle further progress, oil and gas industry leaders said prior to Obama’s final State of the Union address. Source: News

Matthew Kay has been chosen to serve as chief executive officer of Beach Energy Ltd., Adelaide. Kay will succeed Neil Gibbins, currently Beach’s acting chief executive officer. Source: News

Light, sweet crude prices for February delivery plunged on the New York market Jan. 11 settling down $1.75 to $31.41/bbl—the lowest level since December 2003. Source: News

Saudi Arabia and the United Arab Emirates lead the Gulf Cooperation Council in raising energy prices and cutting subsidies in response to fiscal pressures created by the slump in crude oil prices, according to Arab Petroleum Investments Corp. (APICORP), Dammam, Saudi Arabia. Source: News

Crude oil production in February from seven major US shale plays is expected to fall 116,000 b/d to 4.83 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). The agency last month also projected a 116,000-b/d loss for January. Source: News

Suncor Energy Inc. is extending its offer for all the outstanding shares of Canadian Oil Sands Ltd. (COS) to Jan. 27. Source: News