Author: RittaFarr
Louisiana to receive $82 million in Gulf offshore oil and gas revenue sharing
The state of Louisiana will receive $82 million in Gulf of Mexico offshore revenue in the next few months under the Gulf of Mexico Energy Security Act, representing the first large payment under the revenue sharing program created by Congress in 2006. […] Read Full Article Here: http://www.nola.com/environment/index.ssf/2018/04/louisiana_receives_82_million.html
Hess’ Biggs: Bakken Key To US Production Growth
At DUG Rockies, Hess Corp.’s vice president of onshore, Barry Biggs, told the audience the Bakken is a key driver of U.S. production growth. Read Full Article Here: https://www.oilandgasinvestor.com/hess-biggs-bakken-key-us-production-growth-1697926
Saudi Arabia is aiming to launch its own rival to Disney parks, officials say
Saudi Arabia is known for many things, but theme parks aren’t one of them. Now, as part of the conservative Islamic kingdom’s drive to diversify its economy away from oil, the government has unveiled plans for an “entertainment city,” aimed at attracting tourist dollars and revamping its international image. The massive project, which will span 207 square miles in Qiddiya, southwest of the ca...
Texas Oil And Gas Is Facing A Worker Shortage from Houston Public Media
A Texas oil and gas regulator says the industry can’t hire enough workers largely because of public perception. Railroad Commissioner Wayne Christian spoke at state house hearing on Wednesday. “The biggest threat is the misunderstanding of the oil and gas industry and the acceptance of the politically correct-driven, environmental, anti-oil and gas science,” explained Christian. […] Read Full Arti...
Better information needed to improve gender diversity in the clean-energy sector
ROME — Recognizing that the energy sector lags when it comes to gender diversity, the Italian Agency for New Technologies, Energy and Sustainable Economic Development (ENEA) and the International Energy Agency (IEA) brought together over 80 experts from governments, industry, academia and other organisations for a day-long workshop last week to discuss ways to improve data on women’s partici...
If oil hits $80, there’s a lot more at play than airstrikes in Syria
Saturday’s U.S.-led airstrikes on Syria are likely to draw only a muted response in oil markets. Instead, it will be how Syrian President Bashar Assad’s Iranian and Russian allies react, and whether the White House pulls out of the Iran nuclear deal and re-imposes sanctions on the OPEC producer that will determine any move toward $80. Syria produces only negligible vo...
Saudi oil giant Aramco may be more profitable than Apple, according to disputed financial leak
Leaked financial information for the world’s largest oil company, Saudi Aramco, reveals one of the most closely held secrets in the energy industry, if the figures are accurate. Saudi Arabia’s national oil company earned $33.8 billion in the first half of 2017, according to financial information obtained by Bloomberg News and disputed by the company. For comparison, Apple, the world...
Oil prices could rally to $100 a barrel if Middle East tensions ‘really kick off,’ analyst says
Oil prices could soon skyrocket to more than $100 a barrel amid escalating tensions in the Middle East, one oil analyst told CNBC Friday. Crude futures surged to highs not seen since December 2014 earlier in the week, underpinned by greater geopolitical uncertainty in Syria and elevated concerns over the prospect of imminent military action by Western powers. “I don’t thin...
The Oil Eating Bacteria That Can Clean Up Crude Spills
Scientists have discovered a rod-shaped microbe named Alcanivorax borkumensis that has the potential to break down crude in the event of a spill. Read Full Article Here: https://oilprice.com/The-Environment/Oil-Spills/The-Oil-Eating-Bacteria-That-Can-Clean-Up-Oil-Spills.html
New Zealand may have just killed its oil industry
Prime Minister Jacinda Ardern announced Thursday that the government will “no longer be granting any new offshore oil and gas exploration permits.” “This is another step on our transition away from fossil fuels and towards a carbon neutral economy,” Ardern said in a speech. The country’s oil industry quickly voiced its anger over the move. “The decision is a los...
Oil prices jump to three-year high after Trump warns Russia missiles ‘will be coming’ in Syria
Oil prices hit new 2018 highs as missile strikes on top crude exporter Saudi Arabia added to the market’s worries about escalating conflict between the United States and Russia in Syria. Brent, the benchmark for international oil prices, earlier climbed to its highest level in more than three years after President Donald Trump earlier warned Russia to “Get ready” for a U.S. mis...
Brent crude prices jump to the highest since 2014 on rising Middle East tensions
West Texas Intermediate crude futures settled at two-week highs while Brent crude futures hit their highest levels since 2014 as Wall Street grew increasingly concerned over possible military actions in the Middle East. Brent crude futures rose $2.56 to $71.21 a barrel, a 3.7 percent gain, by 3:12 p.m. EDT. U.S. West Texas Intermediate (WTI) crude futures rose $2.09 to settle at $65.51 a barrel, a...