Hybrid Model Awaits Oil, Gas Exploration
In a bid to increase investors interest for oil and gas exploration in the country, the government is preparing a hybrid model for auctioning of larger oil and gas blocks under the fresh round of New Exploration and Licencing Policy (NELP) next year.
New Oil & Gas policy shifts risks to developers: Report
The government’s decision to auction 69 oil and gas fields with market-linked prices and a revenue sharing mechanism under its proposed marginal fields policy (MFP) is a positive for the sector as it shifts the key risks to developers, says a report.
Nigerian Oil & Gas: three steps to improvement
Nigeria’s new government must use its mandate to implement much-needed reforms in the oil and gas sector, which continues to be the driving force behind the economy. The country has achieved what initially looked to be an unlikely result – democratic elections and a peaceful transition of power. This is an important step towards the country’s full transformation into a developed economy and should be used as a platform for real change.
US shale Oil industry hit by $30bn outflows
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Courts, Congress, Regulators Take On Oil And Gas Issues
n less than seven days last week, a federal judge ruled that the Lesser Prairie Chicken is no longer endangered, Congress made moves to remove the ban on oil exports, Texas regulators found that a disposal well in North Texas did not cause an earthquake, and another federal judge blocked a massive water rule.
Well maintained: The public needs assurance from Oil and Gas sites
Beginning this year, oil and gas companies in Pennsylvania must provide evidence that their active wells are structurally sound with no leaks or decay. But 450 well owners failed to provide the required reports, which were due to the Department of Environmental Protection in February.
Oil and Gas: Refining margins soar
The operating environment for refining companies continued to remain strong in the June quarter. Benchmark Singapore gross refining margins (GRMs) averaged $8/barrel (bbl) in the last quarter, compared with $8.5/bbl in the March quarter.
More headwinds for Oil and Gas sector
Despite the recent decline in share prices in the oil and gas (O&G) sector, it has not bottomed out yet and more earnings disappointments are expected, says Kenanga Research in a report.
Revenue share approved for Oil & Gas fields
The Union government will auction marginal oil & gas fields where discoveries could not be monetised by state-owned explorers ONGC and Oil India because of difficult geology and small size of blocks. With this, the government has introduced a revenue-sharing mechanism in oil & gas production.
Coals Worst Days Behind It as Archaic Grid Crimps Gas Growth
While 2015 has been a disastrous year for U.S. coal, the worst days may be just about over.Coal’s share of electricity generation fell to 30 percent in April, when the fuel for the first time ceded its crown as the primary source for power generation to natural gas. That’s about as much as its market share can shrink unless the power grid’s updated and more gas pipelines get built, JPMorgan Chase & Co. said.