Industry Insights

Dramatic decreases in Texas upstream oil and gas industry economic indicators-even crude oil production-suggest a continued “bloodletting” in 2016, an economist indicated. Source: News

Eni SPA has started production from its Goliat platform in production license 229 in an ice-free area of the Barents Sea. The milestone follows numerous delays and cost overruns. Source: News

New forces ranging from persistently depressed crude-oil prices to growing government climate-change polices are making Canada’s National Energy Board alter its forecasting approach, officials said. Source: News

Crude oil prices climbed 66¢ on the New York market to settle at $38.50/bbl on Mar. 11 after a few positive reports on the world oil supply possibly showing signs of lessening. Light, sweet crude prices ended the week up 7.2%, marking their fourth consecutive weekly gain. Source: News

A study compiled by the American Statistical Association (ASA) found that statistics is one of the fastest-growing degrees currently in the US. High demand for statisticians in the consumer products, healthcare, technology, government and manufacturing areas of the economy, however, might not be met despite the rise in statistics degrees. Source: News

State-owned Ecopetrol SA has postponed further activities related to a more than $3-billion project designed to modernize and increase crude processing capacity to 300,000 b/d at its 250,000-b/d Barrancabermeja refinery in Santander, Colombia. Source: News