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.
Marathon extends Bakken acreage with Ajax wells
Marathon Oil Corp. reported an average 30-day initial production of more than 2,400 boe/d (84% oil) from a four-well Middle Bakken pad in the Ajax area of the Williston basin in Dunn County, North Dakota.
Watching Government: Carbon tax idea reappears
Cuadrilla stops hydraulic fracturing in Bowland shale
Privately owned Cuadrilla Resources Ltd. again stopped hydraulic fracturing operations at its Preston New Road natural gas drilling site in Lancashire, northwest England, after minor tremors were detected Dec. 11. Fracturing in the Bowland shale has been halted three times since October.
DEA to focus on Zama discovery with Sierra acquisition
EPA establishes fresh renewable fuel, biomass-based diesel quotas
OPEC’s November oil production averaged nearly 33 million b/d
The Organization of Petroleum Exporting Countries produced 32.97 million b/d on average for November, down 11,000 b/d from October, secondary sources to the cartel reported Dec. 12 in its Monthly Oil Market Report. Saudi Arabia’s production climbed by 377,000 b/d from October to November to reach 11.01 million b/d.
New Vietnamese refinery reaches full startup
Nghi Son Refinery & Petrochemical has started full commercial operations at its 200,000-b/d refinery and petrochemical complex in Thanh Hoa Province in Vietnam. Implemented to secure stable domestic supplies of petroleum products in Vietnam, the refinery began operating commercially on Nov. 14, stakeholder Idemitsu Kosan said on Dec. 11.
MARKET WATCH: NYMEX crude oil holds under $52/bbl pending inventory report
Light, sweet crude oil prices for the January and February contracts rose modestly to settle below $52/bbl on the New York market Dec. 11 pending release of a weekly US government report on crude oil and product supplies. On world markets, crude prices were supported after Libya’s National Oil Corp. announced force majeure on exports from El Sharara oil field following a recent attack by a militia group.