The battle for customers among OPEC members that helped trigger oil’s collapse is about to escalate.
U.S. Sen. Lisa Murkowski, R-Alaska, has criticized the Obama administration for its continued campaign to shut down oil and natural gas activity in Alaska.
The transportation of six 13MW gas-turbine power units to Russia’s Vostochno-Messoyakhskoye field, for the construction of a gas-turbine thermal power plant has begun.
China is poised to maintain its commercial hoard of more than 200 MMbbl of crude within three years even if oil rallies toward $130/bbl.
Saudi Arabia won’t balance global crude markets on its own even as prices fall to levels that are “too low for everybody” and threaten investment needed to meet long-term demand, the head of Saudi Arabian Oil Co. said.
McDermott International has announced that Derrick Barge 50 (DB50) recently completed the installation of a drilling and production platform in the U. S. Gulf of Mexico continental shelf that included the heavy lift of a 3,250 ton jacket.
Injection pressures of proppant-laden slurry and proppant-free spacer, using a pulsing approach, were found to be significantly lower than those applied with conventional hydraulic fracturing treatments.
Often a regulatory requirement, contingency plans for an accidental subsea release or blowout require advanced engineering analysis to understand the potential magnitude and consequences, and the use of a containment system.
As the offshore drilling industry continues to move into more challenging environments, well control is becoming increasingly critical.
The year 2014 has been a period of not only great profitability for the global upstream industry but also a time of considerable volatility.
Numbers help to explain Saudi mindset on global production
Don’t turn off the lights; the party ain’t over!
U.S. Natural Gas (Henry Hub): $2.981West Texas Intermediate: $46.23Brent Blend: $49.60
U.S.: 9.057 MMbpd (November 2014)
World: 91.76 MMbpd (November 2014)
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Over the last two years, we’ve seen a marked increase in the number of gas divestments taking place in Canada’s oil and gas sector.
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