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Oil and Gas Companies Make Statement in Support of U.N. Climate Goals

October 20, 2015

Neil Beveridge, an oil analyst at Sanford C. Bernstein, said the industry deserved credit at least for acknowledging its role in climate change. “It is a big, big step for such a large number of companies to gather,” he said. “Over the years, a lot of companies have been in denial on this issue.”

Reliance 2Q FY16 Oil, Gas E&P Revenue Falls 31.1% to $309M

October 20, 2015

India's Reliance Industries Ltd. posted a second quarter 2016 (2Q FY 2016) revenue of $309.03 million (INR  20.067 billion) for its oil and gas exploration and production (E&P) business, a 31.1 percent decline from $462.31 million (INR 30.02 billion) last year amid a 50.6 percent fall in global benchmark Brent crude oil prices, the firm reported Friday in its release of financial results for the second quarter of 2016 (2Q FY 16) ending Sept. 30. 

Foreign Oil and Gas Investors Are Watching Nigeria, Says Lawhead

October 20, 2015

The Managing Director of Oil and Gas Council, a global business network for senior oil and gas executives, Mr. Drake Lawhead has stated that foreign investors in the oil and gas industry are currently watching Nigeria, stressing that it is undeniable that Nigeria’s foreign direct investment has been hampered by the perception or fact of corruption and theft.

Banks credit to Oil & Gas crowds out other sectors

October 19, 2015

Credit allocation by banks have shown that the bulk of their loans in the past two years went to oil and gas sector to the detriment of other sectors. The sector attracted over 26 per cent of the total bank loans to the economy despite its relative low contribution of about 11.2 per cent to the economy’s Gross Domestic Product, GDP, suggesting a crowding out of other productive sectors of the economy. For instance, the agriculture sector which contributed more than 20 per cent to the nation’s GDP last year received only 4.4 per cent of total credit allocation in 2014.

5 Big Oil and Gas Stocks Analysts Want You to Buy Now

October 19, 2015

Has oil finally found a bottom for breathing room? The answer to that question varies handily from investors and the market and industry participants. After touching $40 earlier this year, after that massive tank in oil prices, West Texas Intermediate (WTI) crude seems to have settled down in a range of $45 to $50 per barrel for now. 24/7 Wall St. would remind readers that the market will determine prices here, and predicting oil prices has become as mystical as predicting gold prices.

Williams: Oil and Gas industry must face challenge of cyber safety

October 19, 2015

The oil and gas business is a significant part of Texas history and culture, and a major economic contributor to our overall state economy. Houston and Dallas are widely recognized for their part in the industry, but many might be surprised at the substantial number and size of oil and gas companies in San Antonio, Austin, Midland and smaller cities throughout Texas.

Study finds Oil and Gas development displacing birds in Bakken

October 16, 2015

Oil and gas development is displacing grassland birds from their habitat in North Dakota’s prolific Bakken shale region, including one candidate for listing as an endangered species, federal researchers say in a new report.

Taranakis Oil and Gas exports are more than Oil and Gas

October 16, 2015

In the midst of an oil and gas downturn in Taranaki, companies may have an opportunity to export their expertise overseas 

Schlumberger says Oil outlook is increasingly challenging

October 16, 2015

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. A recovery in the global oil and gas industry has been delayed and companies will continue to cut their spending next year, the chief executive of the oil services group Schlumberger has warned.

Town panel opposes Oil, Gas drilling

October 15, 2015

When town commissioners took their seats for their regular October meeting Tuesday night, they looked out over a capacity crowd composed mostly of blue-shirted individuals who wanted them to adopt a resolution to oppose drilling for oil and gas off the North Carolina coast.

Tension, criticism mark meeting on new Colorado Oil and Gas rules

October 15, 2015

A packed room with lots of tension marked the first day of public comments Wednesday on a new set of proposed rules designed to smooth controversy over oil and gas operations near homes in Colorado.

Soma Oil & Gas lobbies UK for help in Somalia despite Serious Fraud Office inquiry

October 15, 2015

Soma Oil and Gas, the energy explorer chaired by the former Conservative Party leader Michael Howard, has been lobbying the Government to take actions that would help its operations in Somalia, even as the Serious Fraud Office is investigating the company for alleged corruption there.

Orlen Buys Oil and Gas Assets in Canada, Poland for $392 Million

October 14, 2015

PKN Orlen SA, Poland’s biggest oil company, is expanding its Canadian and Polish operations through two $392 million acquisitions, taking advantage of plunging crude prices.

Tomblin, others sign three-state accord on Oil and Gas development

October 14, 2015

West Virginia Gov. Earl Ray Tomblin, along with Ohio Lt. Gov. Mary Taylor and Pennsylvania Gov. Tom Wolf, signed an accord Tuesday aimed at maximizing development of oil and gas resources in the Appalachian Basin.

China To Continue Expanding Its Influence In The Oil And Gas Sector

October 14, 2015

When it comes to Chinese energy industry, there are three major state owned companies. One is called China National Offshore Oil Company (CNOOC), which is an oil and gas producer, another is called PetroChina, which is another oil producing company, and its third company is Sinopec, which is primarily a refining company. 

Wilkins Township votes to send Oil and Gas ordinance to county for review

October 13, 2015

The Wilkins Township Commissioners on Monday voted to send its new oil and gas ordinance to the Allegheny County Economic Development - Planning Department for review.

IT consultant benefits from Oil and Gas cost cuts

October 13, 2015

An Aberdeen IT consultant is predicting a surge in turnover as oil and gas firms turn to its services to help cope with the industry downturn.

Port future is in offshore Oil and Gas exploration

October 13, 2015

The Port of Pensacola’s future is in servicing the offshore oil and gas exploration support industry, said Port Director Amy Miller.

Iran set to announce Oil and Gas contracts

October 12, 2015

An official in Iran’s oil ministry said on Saturday that Tehran will announce new oil and gas contracts at conferences in Tehran and London on Nov. 21-22 and Feb. 22-24 respectively, according to the ministry’s news agency.

NNPC confirms payment of N723.82bn crude Oil, Gas proceeds to treasury

October 12, 2015

NIGERIAN National Petroleum Corporation (NNPC) has disclosed that the proceeds of do­mestic crude oil and gas sales from January to Au­gust 2015, amounting to N723.82billion, has been paid to the Federation Ac­count as Naira proceeds.


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