U.S. households are feeling the pinch and are expected to have around 0 less disposable income as higher gasoline prices are offsetting part of the tax cuts from earlier this year Read Full Article Here: https://oilprice.com/Energy/Oil-Prices/This-Is-How-Much-US-Households-Lose-As-Gas-Prices-Rise.amp.html
For the fourth year high schoolers from the area have gained knowledge on the inner workings of the oil and gas industry at the Shell Energy Venture Production Camp hosted by Fletcher Technical Community College. “The program is aimed at sparking an interest in the oil industry for high school students,” said camp mentor Hunter Lindley. “The oil and gas industry in Louisiana is huge. Camps like these are beneficial to the future of the state’s oil and gas industry.” […] Read Full Article Here: http://www.dailycomet.com/news/20180614/energy-camp-fuels-interest-in-oil-and-gas-industry
Pope Francis warned against the “continued search” for fossil fuels Saturday and urged a gathering of oil executives, investors and officials to meet the world’s energy needs while protecting the environment and the poor. Read Full Article Here: https://www-wsj-com.cdn.ampproject.org/v/s/www.wsj.com/amp/articles/pope-francis-criticizes-continued-search-for-fossil-fuels-at-meeting-with-oil-executives-1528547509
A geologist risked his own money to set up a rig after spotting what he believed to be a large pool of oil in Alaska. Bill Armstrong, the CEO of Armstrong Oil & Gas, told FOX Business he risked a big chunk of his own money on a hunch that he spotted a large pool of oil in Alaska. “The North Slope of Alaska has been kind of left behind, everybody believed that all the big fields had been found,” he told Stuart Varney on “Varney & Co.” on Friday. “And so my band of brothers and I kind of tore everything apart … and we went up there and said I think they left something behind that may be really, really big.” […] Read Full Article Here: https://www.foxbusiness.com/features/geologist-scores-massive-alaskan-oil-well-on-a-hunch
The hottest oil stock from the U.S. shale boom has never pumped a single barrel of crude. Texas Pacific Land Trust, a listed land bank created out of a railroad bankruptcy more than a century ago, has climbed more than 2,200 percent since 2010, outperforming the stocks of shale oil producers, service companies and prospectors alike. It’s now worth more than $5 billion. Its secret: vast tracts of mineral rights in the Permian Basin, the world’s hottest major oil region, earning revenues from the likes of Chevron Corp., which have to pay the trust when they produce from its land. […] Read Full Article Here: https://www.bloomberg.com/news/articles/2018-05-14/the-130-year-old-bankruptcy-that-created-a-5-billion-oil-giant
There are over a million oil and gas wells in the United States. There are also several hundred thousand miles of pipelines. Digitization is on the rise in the notoriously conservative oil and gas industry as companies wake up to the cost and operational efficiency boost that sensors and algorithms can offer them. Meanwhile, cybercriminals are keeping ahead of the learning curve, but oil and gas is largely pretending not to notice them. […] Read Full Article Here: http://www.businessinsider.com/cybercriminals-are-exposing-oil-and-gas-but-the-industry-is-turning-a-blind-eye-2018-5
Shutting down oil and gas operations in the North Sea is likely to cost double the government’s current target, leaving younger generations with a hefty tax bill. An analysis of current government figures suggests the goal of £39bn to dismantle the region’s pipelines and wells is a significant underestimate. Instead, a figure of over £80bn is cited as a far more realistic projection in the new report for the Intergenerational Foundation (IF). Read Full Article Here: https://www.independent.co.uk/environment/fossil-fuels-north-sea-oil-gas-decommission-cost-double-government-a8326046.html
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
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 capital Riyadh, joins a stream of multi-billion dollar projects that are part of the country’s “Vision 2030” reform initiative to attract investment, reduce its economic reliance on oil and create jobs. The expansive “entertainment city,” funded mainly by Saudi Arabia’s Public Investment Fund, would “rival Walt Disney” local media quoted Saudi officials as saying, and is set include high-end theme p...
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
ExxonMobil worked with a company connected to a senior Conservative party figure to transfer an oil asset in Liberia despite “concern over issues regarding US anti-corruption laws”, the Guardian can reveal. Documents seen by the Guardian show that ExxonMobil proposed a complex financial arrangement to move the rights to a Liberian oil block through two financial transactions on the same day, after concerns were raised about the original allocation of the rights. Under the arrangement, a company called Peppercoast sold rights in a west African oil block to a company called Canadian Overseas Petroleum Limited (COPL). Viscount Astor, the father-in-law of David Cameron, the former prime minister, is a director of COPL, which is registered in Bermuda. […] Read Full Article Here: https://w...
Oilprice.com posed the question “Can tech really transform the oil industry?” in a recent article, and it got me thinking. The idea that this is even a question and not a statement of fact is in itself naive, although I understand why they worded their headline as such. With a million buzz words floating around, let’s keep it simple – the “Amazon effect” will change the industry in the long term. Here’s a take on how… Digital products aren’t new, but they are growing in adoption faster and faster at all stages of the industry. Entire global operations are now monitored in one room using sensors remotely connected and transmitting everything form pressure to flow rate digitally around the globe. Amazon is winning, not by simply being digital, if that were the case there would be a lot ...