Daily Archives: May 11, 2016

EIA: US crude inventories drop 3.4 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 3.4 million bbl from the previous week’s average, according to the US Energy Information Administration’s latest Petroleum Status Report. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

Another helicopter type banned after crash in Norway

By Offshore Energy Today Following the fatal helicopter crash in Norway almost two weeks ago, and a ban on all Airbus EC225 Super Puma helicopter flights, Norwegian and UK authorities have extended the no flight ban on another type of helicopter. According to Oil and Gas UK, the UK and Norwegian Civil Aviation Authorities have…

Faroe Petroleum get green light to drill Brasse prospect (Norway)

By _Offshore_Energy_Today_ Offshore exploration company Faroe Petroleum will drill for hydrocarbons in the North Sea, offshore Norway. The oil industry safety body Petroleum Safety Authority Norway, on Wednesday said it had granted Faroe Petroleum consent for exploration drilling over the companies production licence P 740. PSA said the drilling of the Brasse prospect, as the…

Gazprom Export CEO: gas market needs stability, not volatility

By LNG World News The ideal pricing model for continental Europe is a hybrid oil-based pricing model with spot components, providing violation safe pricing formula, Elena Burmistrova, CEO of Gazprom Export said on Tuesday. Speaking at the Flame Conference currently being held in Amsterdam, Burmistrova said that recent calls for more hub-based indexation could bring…

Argentina: YPF issues tender seeking nine LNG cargoes

By LNG World News YPF of Argentina has reportedly issued a tender to purchase nine cargoes of liquefied natural gas for June to August delivery. Reuters reports, citing trade sources, that the deadline for bid submissions has been set to May 17 with the results to be revealed on May 18. At the end of…