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

Oil & Gas Journal
Wed, 12 Dec 2018 17:07:00 GMT

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.

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Watching Government: Carbon tax idea reappears

Oil & Gas Journal
Wed, 12 Dec 2018 16:56:00 GMT
Did the Democrats regaining majority control of the US House in the recent midterm elections improve the legislative climate for a federal carbon tax? Its prospects certainly look brighter now than when the Republicans were in charge and opposed to any proposal for a new federal tax.
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Cuadrilla stops hydraulic fracturing in Bowland shale

Oil & Gas Journal
Wed, 12 Dec 2018 16:46:00 GMT

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.

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DEA to focus on Zama discovery with Sierra acquisition

Oil & Gas Journal
Wed, 12 Dec 2018 16:45:00 GMT
DEA Deutsche Erdoel AG (DEA), Hamburg, has agreed to acquire Sierra Oil & Gas, Mexico City, giving it access to a portfolio of six exploration and appraisal blocks in Mexico, including the Zama discovery.
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EPA establishes fresh renewable fuel, biomass-based diesel quotas

Oil & Gas Journal
Wed, 12 Dec 2018 16:37:00 GMT
The US Environmental Protection Agency established quotas on Nov. 30 for renewable fuels in 2019 and for biomass-based diesel in 2020. EPA said the conventional renewable fuel quota, which is met primarily by corn-based ethanol, will be maintained at 19 billion gal in 2019, while required advance biofuel volumes will climb by 630 million gal from 2018 to 19.92 billion gal.
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OPEC’s November oil production averaged nearly 33 million b/d

Oil & Gas Journal
Wed, 12 Dec 2018 16:30:00 GMT

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.

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New Vietnamese refinery reaches full startup

Oil & Gas Journal
Wed, 12 Dec 2018 16:18:00 GMT

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.

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MARKET WATCH: NYMEX crude oil holds under $52/bbl pending inventory report

Oil & Gas Journal
Wed, 12 Dec 2018 16:04:00 GMT

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.

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Alberta puts out call for refinery proposals to prevent future oil shocks

Financial Post
Wed, 12 Dec 2018 12:27:01 +0000
Building new refining capacity in the province would be a longer-term solution to getting Canadian oil to market
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Varcoe: It's not Mission Accomplished yet for Alberta's oil plan

Calgary Herald
Wed, 12 Dec 2018 01:50:05 +0000
Canada’s oil-price discount is in retreat. Alberta’s plan to curtail crude production appears to be working. Now, the province is seeking to uncover interest in building a new oil refinery in Alberta. Well, that didn’t take long for our collective attention to turn elsewhere. But before the Mission Accomplished banner is unfurled, here’s a reality […]
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