Daily Archives: May 5, 2016

Transocean fares well in 1Q despite the downturn

Transocean reported its 1Q 2016 results this week, “delivering a strong operating performance, and solid financial results,” despite the challenging environment, the company reported. Read Full Article Here For more great articles: Offshore RSS Feed

OGUK reorganizes with five teams, fewer work groups

Following a business review, Oil & Gas UK has reorganized into five teams from seven. The trade organization also said it streamlined the number of work groups it runs for its members by 40% to provide greater focus on industry priorities. Read Full Article Here For more great articles: Oil & Gas Journal – General…

PHMSA orders Texas Eastern to address Penn Jersey pipeline failure

The US Pipeline & Hazardous Materials and Safety Administration issued a corrective action order requiring Texas Eastern Transmission LP to take necessary corrective actions following the failure of a gas pipeline on its Penn Jersey system. Read Full Article Here For more great articles: Oil & Gas Journal – Transportation

Fort McMurray fire evacuation biggest in Alberta history

About 88,000 residents of Fort McMurray in northern Alberta have been evacuated from a wildfire that has destroyed or damaged 1,600 structures. Alberta Premier Rachel Notley called the event the biggest evacuation in the history of the province. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

MARKET WATCH: Oil prices split as NYMEX gains, Brent falls

The light, sweet crude price for June delivery rose modestly on the New York market May 4 to hold at nearly $43.80/bbl despite a growing US weekly crude oil inventory. Analyst attributed the price rise to concerns about tightening world supply because of threats to Canada’s and Libya’s oil exports. Read Full Article Here For…