Monthly Archives: April 2018

WFS Technologies Partners with University of Aberdeen and the Oil & Gas Innovation Centre (OGIC) to automate offshore platform inspection

WFS Technologies, University of Aberdeen and OGIC today announced a joint technology project to design and build the world’s first ExtremeEdge OLM (On-line Monitoring) system for offshore subsea and platform structures.

Source: Oil and Gas Technology’s News Feed

RAK Petroleum plc Releases 2017 Annual Report and Accounts

United Kingdom, 30 April 2018 RAK Petroleum plc, the Oslo-listed oil and gas investment company, today released its 2017 Annual Report and Accounts. A copy is attached and is available at http://www.rakpetroleum.uk/Investor-relations/Reports-and-presentations/Financial-reporting/Annual-reports. For further queries, please contact:Kevin TonerManaging DirectorRAK Petroleum plcEmail: [email protected] About RAK Petroleum plcRAK Petroleum plc is an Oslo Børs listed oil and gas investment [Read More…]

Source: BOE Report

The Top Natural Gas Players In 2018

Upstream companies that get the majority of their revenues from the sale of natural gas and the associated natural gas liquids have been out of favour for at least three years. However, the “Gassers” that I follow closely are some of the most profitable companies on my Watch List. If you are a contrarian investor, maybe now is the time ...

Source: Oilprice.com

Ford Touts ‘Green’ Image While Arguing for Weaker Efficiency Standards and Planning to Sell Only Trucks

Mustang tailpipe

Ford Motor Company would really like the public to believe that it supports strong emissions and efficiency standards for personal vehicles. Just ask Board Chair Bill Ford and President and CEO Jim Hackett, who recently wrote: “We support increasing clean car standards through 2025 and are not asking for a rollback.”

However, a “rollback” is exactly what EPA Administrator Scott ...

Source: DeSmogBlog

China’s Oil Futures Are Gaining Momentum

China’s new oil futures contract is gaining some momentum as a fixture on the global oil market, although hurdles remain before it can become a key benchmark for Asia. China launched its yuan-denominated oil benchmark in March to much fanfare, after years of planning and delays. The logic of starting up an oil futures contract in China is obvious. China ...

Source: Oilprice.com

Can India Break Its Oil Addiction?

India is one of the world’s largest oil consumers, accounting for around 4 percent of global consumption. Only the U.S. and China outrank India in this regard, making it a key player in the oil market. While India’s oil consumption has seen remarkable growth in the past few years, the recent rise in oil prices may soon force the ...

Source: Oilprice.com

The Biggest Challenge In Electric Car Markets

Volkswagen is spending $2 billion in America to correct its “Dieselgate” cheating scandal — and to move beyond the typical upscale electric car shopper that tends to be much more interested in driving a Tesla Model S or Model X. Electrify America, Volkswagen’s subsidiary carrying out the Dieselgate settlement by supporting electric vehicle purchases and charging infrastructure, has been making ...

Source: Oilprice.com

Audit Finds Aramco Oil Reserves Slightly Higher Than Reported

An audit of Saudi Aramco's oil reserves—an essential part of the preparatory work for its planned initial public offering—has found the state oil giant to have higher reserves than it previously reported, sources familiar with the matter told Reuters. Saudi Arabia’s reserves of easily recoverable oil have long been the world’s largest. Two sources, speaking on condition of anonymity, said ...

Source: Oilandgasinvestor.com Feeds

Saudi Aramco Appoints First Woman To Board Of Directors

Saudi Aramco said on April 29 it has appointed new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives. The appointments, which bring in more international experience, come as the Saudi government plans to float around 5% of Aramco in an initial public offering (IPO)—the world's ...

Source: Oilandgasinvestor.com Feeds

B.C.’s dispute over bitumen control likely to end up in Supreme Court: lawyers

VANCOUVER – British Columbia’s court case over the flow of heavy oil through the province could be damaged by the NDP government’s previous positions against the expansion of the Trans Mountain pipeline, says a legal expert. The provincial government filed a reference case Thursday in the B.C. Court of Appeal asking whether amendments it is [Read More…]

Source: BOE Report

Yellow Dog – Oilfield Lantern

 

Oil patch lore says the yellow dog lantern was so named because its two burning wicks resembled a dog’s glowing eyes at night. Some say the lamp casts a dog’s head shadow on the derrick floor.

Jonathan Dillen’s lantern was “especially adapted for use in the oil regions…where the explosion of a lamp is attended with great danger by causing destructive conflagration ...

Source: American Oil & Gas Historical Society

Major Airlines Expect Oil Prices To Rise

Four months ago several large air carriers said they were in no rush to start hedging against further price increases in crude oil and fuel. Now they may be starting to regret this decision: almost all major airline stocks are down on higher oil, and the price rise has pressured their earnings. In its first-quarter report released yesterday, American Airlines ...

Source: Oilprice.com

Mexico Opens Last Round Of Oil Bidding Before Election

The latest round of open bidding for exploration rights in Mexico’s energy sector received mixed interest, with two further rights sales to take place later in the year. Of the 35 shallow offshore blocks on offer in the March 27 auction, 16 were sold, with the strongest interest seen in blocks in the Sureste Basin – in the south-eastern portion ...

Source: Oilprice.com

U.S. Pipeline Companies Face Hefty Overcharge Payback

While the U.S. tax overhaul is seen as a boon to businesses, including the energy industry, one segment of the oil and gas sector may face up to a US$18.5 billion payout in the form of refunds for overcharging drillers and utilities at the previous tax rate. While the tax is not retroactive to 2017, natural gas pipeline ...

Source: Oilprice.com

Texas OilField Review Week of April 9-13

Texas OilField Review April 9, 2018: An update on the Scoop and Stack Joe Dancy, Executive Director, Oil & Gas, Natural Resources, and Energy Center, University of Oklahoma College of Law Oklahoma City University School of Law, gives an update on the Scoop and Stack plays through Continental Resources reports and several other energy companies’...

The post Texas OilField Review ...

The Overstated Threat Of High Oil Prices

Last Friday, President Trump tweeted:  “Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!” Record Inventories No More First off, it is no longer true that there is still record amounts of oil ...

Source: Oilprice.com

Uruguay’s First Oil Auction In 7 Years Fails To Attract Any Bids

Uruguay’s first oil auction in seven years that had offered 17 offshore blocks didn’t attract any bids by the April 26 deadline, Uruguay’s state-run oil company ANCAP said. Although two companies submitted documents to qualify for the Round 3 oil auction in Uruguay’s offshore, none of them expressed further interest by filing offers, ANCAP said in a statement after the ...

Source: Oilprice.com