Government statistics indicate UK North Sea oil and natural gas production rose for the first time in more than 15 years despite slumping oil prices, said Oil & Gas UK, whose members include oil and gas producers and contractors. Source: News
Australian funds buying Maui gas pipeline
A group led by Shell has agreed to sell the Maui Pipeline, a natural gas transmission system in New Zealand, to two infrastructure funds managed by First State Investments of Australia. Source: News
HollyFrontier lets contract for New Mexico refinery
HollyFrontier Corp., Dallas, through a contractor, has let a contract to Elliott Group, Jeannette, Pa., a subsidiary of Ebara Corp., Tokyo, to supply compression equipment as part of a project designed to enable cleaner fuel production at its 109,250-b/d (115,000-b/sd) Navajo refinery in Artesia, NM. Source: News
First stage of Waitsia gas field project gets financial approval
AWE Ltd. and Origin Energy Ltd., both of Sydney, have given financial approval for the first stage of the 484-bcf Waitsia gas field development onshore Perth basin in Western Australia. Source: News
Statoil lets contracts for work on 20 NCS installations
Statoil ASA has let two 15-year contracts to Beerenberg Corp. AS and Prezioso Linjebygg AS with an estimated value of 11 billion kroner for insulation, scaffolding, and surface treatment services for 20 of the company’s 29 installations on the Norwegian continental shelf. Source: News
Valeura’s Bati Gurgen-1 finds gas in Turkey’s Thrace basin
Valeura Energy Inc.’s first exploration well on its wholly owned and operated Banarli license flowed at an initial restricted rate of 3.4 MMcfd on a 24-hr production test. Originally awarded in April 2014, the 118,598-acre license is near the center and deepest part of the basin. Source: News
MARKET WATCH: NYMEX oil prices drop on global geopolitical, economic worries
Light, sweet crude prices for February delivery fell modestly on the New York market Jan. 4 while analysts and traders watched escalating tensions in the Middle East, violence in Libya, and volatility on the Chinese stock market. Source: News
Moody’s: Firms to see constrained spending, heightened risk in 2016
Oversupply in 2016 will continue to weigh down on both the global oil markets and the US natural gas market, resulting in a noticeable decline in capital spending and a rise in defaults among firms in the sector, predicts Moody’s Investor Service. Source: News
HollyFrontier wraps yearend planned refinery maintenance
US refiner HollyFrontier Corp., Dallas, has concluded planned maintenance activities scheduled during fourth-quarter 2015 for its refineries in El Dorado, Kan.; Cheyenne, Wyo.; and Tulsa. Source: News
Looking back, looking ahead
An otherwise frustrating 2015 ended triumphantly when the 40-year-old ban on exports of US-produced crude oil ended as part of fiscal 2016 omnibus budget bill. But it still was possible to wonder if the US oil and gas industry was becoming a victim of its own success. Source: News