Oil platform in Gulf of Mexico shuts in production after fire

A platform gathering oil in the Gulf of Mexico shut in about 2,200 bopd of output after a compressor caught fire. The Texas Petroleum Investment Co. platform in Breton Sound Block 21, near the southeastern Louisiana coast, evacuated 28 workers without injury after the compressor fire, according to a U.S. Coast Guard. More »

Oil’s whodunit moment coming with millions of barrels to vanish

Millions of barrels of untapped oil that U.S. shale drillers discovered during the boom years are about to disappear from their inventories. More »

Coast Guard responds to oil platform fire in Gulf of Mexico

The U.S. Coast Guard is responding to a report of a platform fire near Breton Island, Friday. More »

Vanguard Natural Resources to acquire Eagle Rock Energy Partners

Vanguard Natural Resources and Eagle Rock Energy Partners have entered into an agreement and plan of merger pursuant to which a subsidiary of Vanguard will merge into Eagle Rock for total consideration of $474 million in Vanguard common units and the assumption of Eagle Rock's net debt of $140 million as of Mar. 31. More »

Core Bakken assets remain economical despite low oil prices, GlobalData says

While the 12 counties with Bakken production between North Dakota and Montana have lost the majority of their horizontal rigs over the last eight months, core areas of the shale play remain attractive, especially as oil prices creep towards $70/bbl, says an analyst with research and consulting firm GlobalData. More »

Jee bags FEED contract for EOR project from Amec Foster Wheeler

Jee Ltd. has been awarded a contract from Amec Foster Wheeler for the front end engineering design (FEED) of a jacket rigid polymer injection riser package (including J-tubes) as part of an enhanced oil recovery (EOR) field development. More »

Canadian crude oil supply chain adapts to U.S. glut, Genscape says

With a global oversupply of crude and ever-changing price environment, the crude oil supply chain between the U.S. and Canada has reacted quickly to rebalance supply and demand by moving U.S. crude north to the Canadian East coast, adding new infrastructure to de-bottleneck oil sand storage hubs, and conducting maintenance at Canadian oil sands production facilities, according to Genscape analysis. More »

Statoil wildcats disappoint in the Norwegian Sea

Statoil Petroleum, operator of production license 348 C, is in the process of completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A. Both wells have been drilled about 4 km north of Hyme field in the southern part of the Norwegian Sea. More »

Petronas reports first oil from Indonesia’s Bukit Tua field

Petronas has reached a significant milestone in its upstream operations in Indonesia with first oil achieved from Bukit Tua field on May 17. More »

Petronas brings Indonesia's Bukit Tua field online

Petronas reached a significant milestone in its upstream operations in Indonesia with the first oil achieved from the Bukit Tua field on May 17. More »

Saudi oil supply outpaces rivals in grab for record China demand

Saudi Arabia expanded its share of China’s oil market last month, outpacing rival producers as they compete to meet record demand from the world’s biggest energy consumer. More »

Petronas first-quarter profit plunges on oil price slump

Petroliam Nasional Bhd., Malaysia’s state oil company, posted a 43% decline in first-quarter profit after a plunge in crude oil prices. More »

Vanguard Natural Resources to acquire Eagle Rock Energy Partners for approximately $614 million

Vanguard Natural Resources and Eagle Rock Energy Partners have entered into an agreement and plan of merger pursuant to which a subsidiary of Vanguard will merge into Eagle Rock for total consideration of $474 million in Vanguard common units and the assumption of Eagle Rock's net debt of $140 million as of Mar. 31. More »

Core Bakken assets remain economical despite low oil prices, says GlobalData analyst

While the 12 counties with Bakken production between North Dakota and Montana have lost the majority of their horizontal rigs over the last eight months, core areas of the shale play remain attractive, especially as oil prices creep towards $70/bbl, says an analyst with research and consulting firm GlobalData. More »

Jee bags FEED contract for enhanced oil recovery project from Amec Foster Wheeler

Jee Ltd. has been awarded a contract from Amec Foster Wheeler for the front end engineering design (FEED) of a jacket rigid polymer injection riser package (including J-tubes) as part of an enhanced oil recovery (EOR) field development. More »

Canadian crude oil supply chain adapts to U.S. glut; Edmonton storage inventories plummet while waterborne shipments ease constraints, Genscape reports

With a global oversupply of crude and ever-changing price environment, the crude oil supply chain between the U.S. and Canada has reacted quickly to rebalance supply and demand by moving U.S. crude north to the Canadian East coast, adding new infrastructure to de-bottleneck oil sand storage hubs, and conducting maintenance at Canadian oil sands production facilities, according to Genscape analysis. More »

Husky Energy begins steam operations at Rush Lake

Husky Energy has started commercial steam operations at the 10,000 bpd provider, Rush Lake heavy oil thermal project in Saskatchewan, approximately eight weeks ahead of schedule. More »

OPEC seen unyielding in oil-market share battle with shale

OPEC will stick with the strategy of favoring market share over prices when it meets next month because rival producers are already starting to buckle. More »

Oil rout spurs Canadian Pacific to cut shipments forecast

Canadian Pacific Railway Ltd. cut its forecast for moving crude by rail for a second time in four months because of production delays and lower demand for the commodity. This year’s total will probably be 100,000 to 140,000 carloads, Chief Operating Officer Keith Creel said Wednesday. Canadian Pacific had forecast 140,000 in January, a reduction from its original outlook of 200,000. More »

Risk from Canada’s oil sands reputation is as challenging as costs

Canada’s oil sands industry faces an equal risk from its reputation as an environmental laggard, as from high operating costs, industry observers said. The failure to win approval for pipelines like TransCanada Corp.’s Keystone XL and Enbridge Inc.’s Northern Gateway is tied to concerns about carbon emissions with oil production, Ed Whittingham, executive director of the Pembina Institute, said at the Bloomberg Economic Series Canada summit in Toronto. “The oil sands feeds into concern about the climate,” he said. “The primary driving concern is climate.” More »

Exxon Mobil accelerates Iran sanctions lobbying as nuke deal looms

Exxon Mobil Corp. is ramping up lobbying efforts with the U.S. government over Iranian sanctions that have locked out American oil companies from the Middle Eastern nation for more than three decades. Exxon Mobil, the world’s largest publicly traded crude producer by market value, hired the lobbying firm founded by former Senator Don Nickles—an Oklahoma Republican—to work on Iranian sanctions, according to federal disclosure documents. This is the first time since 2010 that the Irving, Texas-based oil company enlisted outside lobbyists to discuss Iran. More »

Brazilian gas producer PGN plans $500 million output growth

Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is investing 1.5 billion reais ($500 million) in projects, including developing five fields in the country’s northeast. The producer, backed by Cambuhy Investimentos, which counts Brazilian billionaire Pedro Moreira Salles as an investor, expects the plan to increase gas output 71%, to 8.4 MMcmd (297 MMcfd) by July 2016, said Henrique Rzezinski, institutional relations vice president of the company, known as PGN More »

Rosneft acquires 100% of Solimoes project from HRT

Rosneft Brasil and PetroRio (the new brand of HRT Participações em Petróleo S.A.) have announced the signing of the Rosneft Brasil transaction to acquire PetroRio’s 55% in the Solimões project. More »

California declares state of emergency in Santa Barbara to assist oil spill response

California Governor Edmund G. Brown Jr. issued an emergency proclamation Wednesday for Santa Barbara County due to the effects of an oil spill near Refugio State Beach on Tuesday. More »

BG takes full operational control of Queensland Curtis LNG in Australia

BG Group announced Thursday that operational control of Train 1 at its Queensland Curtis LNG plant has been formally transferred to QGC, BG Group's Australian subsidiary, from Bechtel Australia, which constructed the facility. More »

Expro wins the RoSPA President’s Award 2015

Expro has won the President’s Award, following 11 consecutive Gold Awards, in the RoSPA (Royal Society for the Prevention of Accidents) Occupational Health and Safety Awards 2015. More »

Talisman drills dry well north of Varg field

Talisman Energy Norge AS, operator of production licence 672, has concluded the drilling of wildcat well 15/12-24 S. The well was drilled in the central part of the North Sea about 6 km north of the Varg field and 220 km southwest of Stavanger. More »

Bister exploration well disappoints in Norwegian Sea

Faroe Petroleum has announced that drilling has reached target depth on the Statoil-operated Bister exploration well in the Norwegian Sea. More »

Transocean reaches settlement agreements with BP, PSC

Transocean Ltd. has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (PSC) and with BP Exploration and Production Inc. and BP America Production Co. More »

Verisk Analytics closes $2.8 billion WoodMac acquisition

Verisk Analytics, Inc. has completed the acquisition of Wood Mackenzie Ltd. The purchase price was £1.85 billion (approximately $2.8 billion, net of foreign currency hedges). More »

Onshore opportunities could attract smaller players to Mexico, Wood Mac says

Mexico has announced the next phase of Round One with an offering of 26 onshore conventional fields. All are located in the Burgos, Tampico-Misantla, and Salinas-Sureste basins. More »

Gudrun leak could have proved fatal, Statoil finds

Statoil has completed its investigation into a leak on Gudrun platform. More »

‘Shale-ionaires’ suffering from wave of bankrupt oil drillers

At the height of the U.S. energy boom, Texas landowner John Baen received about $100,000 a month in royalty payments from companies producing oil and natural gas on his property. More »

South Sudan says oil staff back at northern field after violence

Staff at South Sudan’s largest oil hub are returning to work after fighting between the army and rebel forces forced some to temporarily evacuate, the East African country’s government said. More »

Eclipse Model 706 guided wave radar transmitter now with Modbus protocol

Magnetrol International has released the Eclipse Model 706 guided wave radar (GWR) transmitter configured with Modbus protocol. The Modbus communications protocol is widely used in the unconventional oil and gas industry, where the ECLIPSE offers advanced liquid and interface level control to ensure accuracy, efficiency, reliability and ease of use for production applications. More »

Talisman drill dry well north of the Varg field

Talisman Energy Norge AS, operator of production licence 672, has concluded the drilling of wildcat well 15/12-24 S. The well was drilled in the central part of the North Sea about 6 km north of the Varg field and 220 km southwest of Stavanger. More »

Faroe releases results of Bister exploration well

Faroe Petroleum announces that drilling has reached target depth on the Statoil operated Bister exploration well in the Norwegian Sea (Faroe 7.5%). More »

Transocean reaches settlement agreements with Plaintiffs' Steering Committee and BP

Transocean Ltd. has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (PSC) and with BP Exploration and Production Inc. and BP America Production Co. More »

Verisk Analytics acquires Wood Mackenzie for $2.8 billion

Verisk Analytics, Inc. has completed the acquisition of Wood Mackenzie Ltd. The purchase price was $2.8 billion (approximately £1.85 billion, net of foreign currency hedges). More »

Mexico's Round One offers onshore conventional opportunities, Wood Mackenzie says

Mexico has announced the next phase of Round One with an offering of 26 onshore conventional fields. All are located in the Burgos, Tampico-Misantla, and Salinas-Sureste basins. More »

Wintershall ceases activities in Qatar

Wintershall is ceasing its activities in Qatar and is returning Block 4 North near the North Field off the Qatari coast on May 25. More »

Petrofac supports Bumi Armada with maintenance build for North Sea FPSO

Petrofac has been awarded a contract to support maintenance management system (MMS) implementation for Bumi Armada’s FPSO, the Armada Kraken bound for the North Sea. More »

Statoil completes investigation of Gudrun leak

On Feb. 18, a condensate leak occurred on the Gudrun platform in the North Sea. The incident has been investigated by Statoil’s corporate investigation team which classifies it to be of the highest degree of seriousness. More »

ExxonMobil announces significant oil discovery offshore Guyana

Exxon Mobil Corporation has announced a significant oil discovery on the Stabroek block, located approximately 120 miles offshore Guyana. More »

Petronas-led group signs pact on $30 billion Canada LNG project

British Columbia and a group of companies led by Malaysia’s Petroliam Nasional Bhd. reached a preliminary deal on taxes and royalties for a proposed C$36 billion ($30 billion) liquefied natural gas project. More »

Halliburton reaches agreement with BP on Deepwater Horizon claims

Halliburton has reached an agreement with BP Exploration and Production Inc. to resolve remaining issues, which includes indemnities between the parties and dismissal of all claims against each other, relating to the April 20, 2010, Deepwater Horizon well incident in the Gulf of Mexico. More »

Oil rises after U.S. crude supply drops amid refining boost

Oil climbed after U.S. crude stockpiles dropped as refineries bolstered operating rates. Crude inventories declined 2.67 MMbbl last week, according to the Energy Information Administration. Refinery operating rates rose for the third time in four weeks. Gasoline supplies unexpectedly fell ahead of the Memorial Day holiday, which heralds the start of the U.S. summer driving season. More »

NCS Multistage creates corporate technology group, makes key appointments

NCS Multistage, LLC, has created a Corporate Technology Group that will focus on new technology RandD, including identifying and commercializing complementary technologies and services that will enable its customers to improve efficiency and maximize hydrocarbon recovery. The new group combines NCS’ Emerging Technology, Engineering and Corporate Technical Services teams with Anderson/Thompson Reservoir Strategies, NCS’ newly formed reservoir engineering and consulting business. More »

Acona UK starts drilling operations in Northern Ireland

Well drilling and project management specialist Acona UK has begun drilling operations on a salt well for AIM-listed InfraStrata plc on behalf of Islandmagee Storage Limited in Northern Ireland. An Acona UK team is managing the drilling of the Islandmagee- 1 well, on the shores of Larne Lough. Operations to drill the 1,700-m well are expected to take about five weeks. The objective is for data gathering to confirm the feasibility of a strategically important underground gas storage facility in leached salt caverns. More »

Total brings Russian gas field onstream in northern Siberia

Total has started-up gas and condensate production from the onshore Termokarstovoye field, in the Yamalo Nenets Autonomous District of the Russian Federation. The field will produce around 6.6 MMcmgd and 20,000 bcpd, with a combined production capacity of 65,000 boed. “We are delighted with the start up of Termokarstovoye, the first project executed together with our strategic partner in Russia, Novatek, with whom we are also jointly developing the Yamal LNG project,” commented Michael Borrell, Total’s senior V.P., Exploration and Production, Europe and Central Asia. More »

South Sudan denies rebels have taken control of oil fields

South Sudan’s government denied claims by rebel forces that they’ve seized oil fields in the north of the country after clashes in the region. Lony T. Ngungdeng, a spokesman for insurgents loyal to former Vice President Riek Machar, said on Tuesday that the fighters took control of facilities in Upper Nile state, which are still producing crude. Fighting is taking place around Malakal, the state capital, and Akoka, Information Minister Michael Makuei Lueth said by phone Wednesday from South Sudan. More »

Packers Plus introduces real-time frac monitoring technology

HOUSTON -- Packers Plus Energy Services has launched of the ePLUS Retina monitoring system as a cost-effective solution for observing downhole events and their effects on the reservoir. More »

UK Oil and gas urges cooperation across UKCS

Ardent co-operation across the UK oil and gas industry which draws on the experience of others is important in helping to contain inflationary pressures and achieve a sustainable future for the UK Continental Shelf (UKCS), a London audience heard on May 19, at an Oil and Gas UK briefing, sponsored by Costain Upstream Ltd and Herbert Smith Freehills. More »

Packers Plus addresses low oil price with innovative new technology

Packers Plus Energy Services announces the launch of the state-of-the-art ePLUS Retina monitoring system as a cost-effective solution for observing downhole events and their effects on the reservoir. More »

NOV scores $395K from Mud King over stolen trade secrets

Houston-based National Oilwell Varco LP has won nearly $400,000 from Mud King Products Inc. after a bankruptcy judge found that Mud King paid an NOV employee to steal hundreds of NOV's secret mud pump blueprints that Mud King was using to start manufacturing Chinese knockoffs when the scheme was uncovered. More »

Working co-operatively and learning from others is key to improving UK oil and gas industry efficiency

Ardent co-operation across the UK oil and gas industry which draws on the experience of others is important in helping to contain inflationary pressures and achieve a sustainable future for the UK Continental Shelf (UKCS), a London audience heard on May 19, at an Oil and Gas UK briefing, sponsored by Costain Upstream Ltd and Herbert Smith Freehills. More »

Oil falls to 3-week low as Goldman sees $45 crude by October

Oil slid to a three-week low as the dollar strengthened and Goldman Sachs Group Inc. said a continuing surplus would send prices back down to $45 bbl by October. More »

ANGA applauds passage of Texas’ LNG export resolution

Frank J. Macchiarola, executive vice president of government affairs at America’s Natural Gas Alliance (ANGA), issued the following statement on the passage of Texas S.C.R. 32, a resolution to help protect America’s competitive advantage in energy markets: “ANGA applauds the Texas Legislature’s passage of S.C.R 32. This bipartisan measure urges Congress and the president to advance policies that will enable America to export natural gas to ensure our nation’s competitive advantage in energy markets as a global energy leader. More »

South Sudanese rebels say they seized oil-producing fields

South Sudanese rebels said they have taken control of the country’s main oil fields that are still producing crude, after defeating government forces in Upper Nile state on Tuesday. The insurgents loyal to former Vice President Riek Machar, allied with local militia, are occupying the area around Paloch, rebel spokesman Lony T. Ngundeng said on Tuesday. “Our forces have controlled all the oil fields,” he said by phone from the Ethiopian capital, Addis Ababa. “There’s not any damage to the installations.” More »

Shale set to pummel another market, as U.S. LNG plants arrive

The U.S. is about to change the global LNG market forever. When the first tanker carrying LNG from shale fields leaves the Sabine Pass terminal in Louisiana in December, it will turn consumers into traders with more bargaining power. That will transform a market dominated by long-term contracts into one where spot trading gains prominence, similar to crude oil. Since the first LNG cargo went to the U.K. from Algeria under a long-term contract in 1964, buyers opted for guaranteed supply, because the fuel was scarce. That’s changing, because gas from the Eagle Ford and other plays will transform the U.S. into the third-biggest exporter by 2020. More »

Oil MandA activity likely to pick up during 2016

Oil’s rebound and more certainty around company valuations are keys to driving mergers and acquisitions activity next year given the pent-up demand for deals, bankers said Tuesday at an energy forum in Houston. “The dam will break at some point,” Stephen Trauber, vice chairman and global head of energy at Citigroup Inc., said at the Mergermarket conference. More »

AVEVA to provide Everything 3D design software to Aker Solutions

AVEVA has entered a multiyear agreement with Aker Solutions for Everything. Aker has selected the software systsem to be its strategic 3D tool on plant design, modification and maintenance projects. More »

Gazprom revives Saipem deal to build Turkey gas link through Black Sea

Gazprom has revived a deal with Saipem to build a gas link through the Black Sea, which was suspended after Russian President Vladimir Putin scrapped the South Stream pipeline to Europe last year. More »

Nigeria plans to split gas from oil leases to boost output

Nigeria, Africa’s biggest oil producer, plans to issue separate leases for gas assets in order to attract more investors to boost output of the fuel, the state-owned oil company said. More »

BP plans to sell part of its stake in Australian oil venture

BP Plc plans to sell part of its oil project off southern Australia, before an exploration campaign that’s slated to start late next year at a cost of more than $800 million (A$1 billion). More »

Saudi March oil exports reach 9-year high in market push

Saudi Arabia shipped more crude in March than in any month since November 2005 as the world’s biggest oil exporter battled for market share amid a global glut. More »

JP3 launches vapor pressure analyzer to ensure low crude volatility during transport

JP3 Measurement announces the launch of the industry’s first in-line, field deployable, optical vapor pressure analyzer - the Verax VPATM. For the first time, operators can measure vapor pressure in condensate and crude oil in real time with no sample conditioning. More »

Geodynamics acquires Connor Oil Tools

Geodynamics Inc. has acquired the assets of Connor Oil Tools. Connor Oil Tools manufactures bridge plugs, setting tools and cement retainers from their facilities in Saginaw, Texas. More »

Oil share of U.S. transportation is lowest since the steam age

Oil has the lowest share of the U.S. transportation fuel market since the 1950s, when steam trains remained a common sight on American railroads. More »

DEA farms out part of West Nile Delta project to BP

DEA Deutsche Erdoel AG has equalized its working interest and farmed down its stake in the West Nile Delta (WND) project in Egypt to its joint venture partner and operator BP in order to better balance its portfolio. More »

Goldman Sachs sees Brent at $55/bbl in 2020

Brent crude oil will trade at $55/bbl in five years according to Goldman Sachs Group Inc., more than $10 lower than current prices and a discount of $20 to 2020 futures. More »

FEI, Weatherford enter agreement for advanced reservoir characterization

FEI and Weatherford Laboratories have entered into a joint agreement to offer advanced reservoir characterization services to the oil and gas industry. More »

FEI, Weatherford enter agreement for advanced reservoir characterization services

FEI and Weatherford Laboratories have entered into a joint agreement to offer advanced reservoir characterization services to the oil and gas industry. More »

PGS kicks off 2D survey offshore Mexico

Petroleum Geo-Services commenced operations on a multi-client 2D seismic program offshore Mexico on May 16. More »

Senators introduce bills to increase states’ share of oil and gas revenues

U.S. Sens. Lisa Murkowski, R-Alaska, Bill Cassidy, R-La., and Tim Scott, R-S.C., have introduced separate proposals to increase energy production on the Outer Continental Shelf (OCS) and increase revenue sharing with states that support offshore energy production activities. More »

Independent producers seek to halt federal hydraulic fracturing rule

BakerHostetler, on Friday, filed a request for preliminary injunction against the final rule the Bureau of Land Management (BLM) issued to regulate hydraulic fracturing on federal and Indian lands. More »

Anadarko appoints contractor for Mozambique LNG development

Anadarko Petroleum, on behalf of the co-venturers in Mozambique's Offshore Area 1, has announced the selection of a consortium consisting of CBandI, Chiyoda Corporation and Saipem (CCS JV) for the initial development of the onshore LNG park in Mozambique. More »

Nostra Terra buys minority interest in Texas’ San Miguel prospect

Nostra Terra has announced the acquisition of a 1% working interest in the San Miguel Prospect, comprising 35,000 acres in South Texas. More »

PGS kicks off survey offshore Mexico

Petroleum Geo-Services commenced operations on a multi-client 2D seismic program offshore Mexico on May 16. More »

Lundin secures production license for Russia’s Morskaya field

Lundin Petroleum has announced that Rosnedra, the Russian licensing authority, has issued a production license for Morskaya field. More »

TGS announces major 2D survey offshore Mexico

TGS has announced Gigante, a 181,500 km regional 2D seismic survey in the Gulf of Mexico. More »

OMV Petrom says low oil price hurt profit, may reduce investment

OMV Petrom SA, Romania’s biggest oil company, said its first-quarter profit fell 68% from a year earlier due to lower oil prices and warned it may be forced to reduce investment and production through 2017. More »

BHP lowers priority of Australian LNG project with Exxon

BHP Billiton Ltd. is lowering the priority of its Scarborough liquefied natural gas project with Exxon Mobil Corp. in Australia amid a fall in prices and increasing competition from the U.S. More »

$100 oil seen years away by Petronas as shale output resilient

The rally in crude prices may not last as U.S. shale output remains robust, according to Malaysia’s state oil company. More »

Conoco sees selling U.S. oil to world amid call to end crude ban

ConocoPhillips said it’s capable of supplying U.S. oil to the global market and reiterated a call to end the nation’s ban on crude exports. More »

Senators introduce bills to increase States’ share of oil and natural gas revenues

U.S. Sens. Lisa Murkowski, R-Alaska, Bill Cassidy, R-La., and Tim Scott, R-S.C., this week each introduced separate proposals to increase energy production on the Outer Continental Shelf (OCS) and increase revenue sharing with states that support offshore energy production activities. More »

BakerHostetler files injunction in U.S. District Court against BLM's final rule

BakerHostetler, on Friday, filed a request for preliminary injunction against the final rule the Bureau of Land Management (BLM) issued to regulate hydraulic fracturing on federal and Indian lands. More »

Hedge funds lose faith in oil rally as OPEC seen boosting supply

Speculators are losing faith in the oil rally, judging that OPEC will keep increasing supply from the highest level since 2012. Their net-long position in West Texas Intermediate crude dropped 2.1%, as long wagers fell the most in two months and short bets declined to the lowest since August. More »

Hedge funds lose faith in oil rally as OPEC seen boosting bupply

Speculators are losing faith in the oil rally, judging that OPEC will keep increasing supply from the highest level since 2012. Their net-long position in West Texas Intermediate crude dropped 2.1%, as long wagers fell the most in two months and short bets declined to the lowest since August. More »

Qatar Petroleum sees rising OPEC demand as price drop hits shale

Demand for OPEC’s crude will rise as the drop in oil prices below $100/bbl continues to hinder shale production, Qatar Petroleum International’s Chief Executive Officer Nasser Khalil Al-Jaidah said. More »