Daily Archives: June 14, 2016

E&Y: US producers’ oil reserves plunged 12% in 2015

Rate this article A year characterized by persistently low crude oil and natural gas prices, decreased capital expenditures, and falling revenues included dramatic downward reserve revisions by the 50 largest exploration and production firms in the US, according to Ernst & Young LLP’s US oil and gas reserves study 2016. Read Full Article Here For…

TransCanada-IEnova JV to build 2.6-bcfd Texas-Mexico pipelines

Rate this article Infraestructura Marina del Golfo (IMG)—TransCanada Corp.’s joint venture with Sempra Energy subsidiary IEnova—will build, own, and operate the 42-in. OD, 497-mile Sur de Texas-Tuxpan natural gas pipeline in Mexico. A 25-year gas transportation service contract for 2.6 bcfd with Comision Federal de Electricidad (CFE), Mexico’s state-owned power company, supports the project, expected…

New England senators, witness question pipeline financing practices

Rate this article Two US Senate Energy and Natural Resources Committee members from New England joined a witness from the Environmental Defense Fund in questioning how major natural gas pipeline projects are financed. Markets and priorities have changed to a point that relying on purchasers’ capacity commitments to raise construction capital may no longer be…

Statoil may consider PEMEX partnership in deepwater Gulf

Rate this article Statoil may seek to partner with Petroleos Mexicanos in Mexico’s deepwater fields as the producer looks to gain a foothold in the country’s recently opened energy market, according to a recent Bloomberg report. Read Full Article Here For more great articles: Offshore RSS Feed

Aquatic/JFO alliance completes first global project

Rate this article Aquatic Engineering & Construction Ltd. and alliance partner James Fisher Offshore Ltd. have completed their first global collaboration project for Ocean Installer Texas Inc. in the Gulf of Mexico. Read Full Article Here For more great articles: Offshore RSS Feed

Norway sanctions Oseberg Vestflanken 2

Rate this article Norway’s Ministry of Petroleum and Energy has sanctioned the plan for development and operation of Oseberg Vestflanken 2 in the North Sea. Read Full Article Here For more great articles: Offshore RSS Feed

Chinook divests assets to Tournament Energy

Rate this article Chinook Energy Inc. has divested most of its oil and natural gas properties in Alberta to privately held Tournament Exploration Ltd. and made a payment of $925,000 for common shares representing about 70% of Tournament’s issued and outstanding share capital. Both companies are based in Calgary. Read Full Article Here For more…

IEA: Oil stockpile in first half smaller than expected

Rate this article In its June Oil Market Report, the International Energy Agency stated that less oil has been stockpiled than originally expected during this year’s first half. The surplus of supply over demand in the first half is currently about 800,000 b/d compared with the initial expectation of 1.5 million b/d in January. The…