UK Oil & Gas Reserves Fall To 5.7 Billion BOE
The UK’s proven and probable (2P) oil and gas reserves as at end-2016 were 5.7 billion barrels of oil equivalent (boe), down from 6.3 billion boe at end-2015, due to…
Petrobras Pipeline Sale Sparks Interest From Investors Worldwide
Twenty investors—including France’s Engie, a Brazilian investment group, and an Abu Dhabi state-owned holding group—are interested in buying a majority stake in a gas pipeline network in Brazil currently owned…
Cautious Optimism Keeps Oil Over $60
Brent remained at over US$60 a barrel today, with WTI a bit over US$54 a barrel, but prices have begun to drag because of the prospect of further increases in…
BP Launches Share Buyback As Q3 Profit Beats Estimates
BP (NYSE:BP) is starting a share buyback program as it doubled its third-quarter profit, in a sign that the UK oil supermajor is now more optimistic of its business and…
U.S. Resources Set For Record Breaking Resurgence
Lots of natural resources news in America this week, with big opportunities opening in mining and energy in several spots across the country. The highest-profile happening was a new offshore…
Railway Company Lawsuit Highlights Dangers Of Oil By Rail
Norfolk Southern Railway is suing a company that manufactures railroad ties because it didn’t use the right protective coating for the ties, and now Norfolk Southern will need to replace…
Saudis Need $70 Oil To Break Even
Saudi Arabia needs oil prices at $70 per barrel in 2018 in order to breakeven, the International Monetary Fund (IMF) said on Tuesday in its Regional Economic Outlook on the…
Alaska Watchdog Orders Oil Well Shut-Downs
The Alaska Oil and Gas Conservation Commission has ordered oilfield operators in the North Slope to shut down wells with a design similar to one operated by BP that spilled…
Can $60 Oil Last?
Brent is back at $60 for the first time in more than two years, but the big question is: Can crude hold onto its gains? Oil prices firmed up in…
Big Oil Urges OPEC: Keep Floor Under Oil Prices
The oil market and analysts already largely expect OPEC to extend the production cut deal beyond March 2018, which many feel would finally rebalance supply and demand. OPEC’s new tagline…