Opposition grows to the pipeline designed to carry oil away from Alberta. No, not THAT pipeline. It’s Kinder Morgan’s Trans Mountain expansion project that faces new trouble.
Splitting differences provides a remorselessly unscientific perspective on a question important to oil and gas producers and comes with a possibly instructive or at least amusing analog in downstream-business history.
WPX Energy Inc., Tulsa, and Howard Energy Partners
(HEP), San Antonio, have agreed to form a 50-50 joint venture to
develop oil gathering and gas processing systems in the Permian’s
Norway’s Statoil ASA
has committed to continue the deepwater offshore exploration program in
the Great Australian Bight that was vacated by BP PLC late last year.
It’s surplus. It’s abundance. It’s why things seem crazy in the oil and gas business. Get used to it.
Assuming stable oil production from the Organization of Petroleum Exporting Countries, oil demand should outpace oil supply in this year’s second half, but excess inventories will persist into 2018, according to forecasts made by the International Energy Agency in its latest monthly Oil Market Report.
Linn Energy Inc.,
Houston, has found a buyer for the remainder of its California assets,
advancing the firm’s ongoing noncore divestiture program.
Seismic activity grew in central Oklahoma in the 18 months leading up
to Dec. 31, 2015, but declined markedly during the following year as
the state began to regulate oil and gas wastewater disposal more
aggressively, the US Department of Energy’s Fossil Energy Office (FEO) reported. Decreased oil and gas production in response to falling prices also played a part, it added.
The US Congress should substantially reform the federal Renewable
Fuel Standard and not waste time on a bill introduced in February by
senators from several farm states to expand volatility waivers for fuels
with higher ethanol blends, an American P…
Energy markets are adjusting effectively to near-term challenges,
with the oil market in particular adjusting in 2016 to the oversupply
that has dominated it in recent years, BP PLC said in the 66th edition
of its Statistical Review of World Energy.