Oil & Gas Industry News

Welcome to the Energy News Page. Here you can find links to the latest news from reputable sources in the oil and gas industry.


Oil Stays Below $52

Rigzone
Thu, 13 Dec 2018 00:00:00 GMT
Oil traded below $52 a barrel after U.S. crude inventories slid less than expected and added to concerns that the OPEC+ coalition's output cuts won't be enough to avert a supply glut.
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EIA STEO revises Brent, WTI oil-price forecasts downward for 2019

Oil & Gas Journal
Wed, 12 Dec 2018 21:34:00 GMT

In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration has revised its 2019 price forecasts for Brent and West Texas Intermediate to $61/bbl and $54/bbl, respectively, which are both $11/bbl lower than forecast in the STEO for November.

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Alberta’s oil production cuts are working a little too well and making crude too expensive to ship

Financial Post
Wed, 12 Dec 2018 20:17:21 +0000
Since the cuts were announced the price of heavy Canadian crude has more than doubled
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Cogent Midstream lets contract for Midland basin gas plant

Oil & Gas Journal
Wed, 12 Dec 2018 19:08:00 GMT

Cogent Midstream has let a contract to Honeywell UOP for the previously announced expansion of natural gas processing capacity in the lower Midland basin of West Texas that will add a refrigerated cryogenic processing plant at the same location as its existing Big Lake gas plant in Reagan County, Tex.

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Manchin to succeed Cantwell as Senate Energy panel’s top Democrat

Oil & Gas Journal
Wed, 12 Dec 2018 19:00:00 GMT

US Sen. Joe Manchin (D-W.Va.) will become the Energy and Natural Resources Committee’s ranking minority member when Congress reconvenes in January, it was announced on Dec. 12. He will succeed Maria E. Cantwell (D-Wash.), who has been the committee’s top Democrat since January 2015.

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Cenovus to focus 2019 budget on Foster Creek, Christina Lake

Oil & Gas Journal
Wed, 12 Dec 2018 18:54:00 GMT

Cenovus Energy expects to allocate the majority of its planned 2019 budget of $1.2-1.4 billion to sustain base production at its Foster Creek and Christina Lake oil sands operations. The company also plans to complete construction of the Christina Lake Phase G expansion. With an approved design gross capacity of 50,000 b/d, production startup from the expansion is expected in second-half 2019.

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Total signs E&P contracts for blocks off Mauritania

Oil & Gas Journal
Wed, 12 Dec 2018 18:47:00 GMT

Total and the Ministry of Petroleum, Energy, and Mines of Mauritania have signed an agreement awarding Total two exploration and production contracts for Blocks C15 and C31 deep offshore Mauritania, covering a 14,175-sq km area. Based on the contracts, Total will serve as operator of these two blocks with a 90% interest alongside SMHPM, which will hold the remaining 10%.

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French Guyana: Total commits to exploration campaign

Oil & Gas Journal
Wed, 12 Dec 2018 18:35:00 GMT

Total SA reported on plans to begin its exploration campaign on the Guyane Maritime license, 150 km off French Guyana. Total’s objective on the license is to drill one last exploration well, following the five formerly drilled during 2011-13 to conclude definitively whether an exploitation phase is relevant.

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BOEM extends EIS comment period for proposed Beaufort Sea lease sale

Oil & Gas Journal
Wed, 12 Dec 2018 18:04:00 GMT

The US Bureau of Ocean Energy Management has extended the public comment period for a proposed environmental impact statement (EIS) relating to a proposed 2019 Beaufort Sea oil and gas lease sale, the agency’s Anchorage office said on Dec. 11.

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EIA: US crude inventories down 1.2 million bbl

Oil & Gas Journal
Wed, 12 Dec 2018 18:00:00 GMT

US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 1.2 million bbl for the week ended Dec. 7, according to data from the US Energy Information Administration. At 442 million bbl, US crude oil inventories are about 7% above the 5-year average for this time of year, the report indicated.

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