Bubbling Crude Prices Spell Triple-whammy Setback for India (Tuesday, 1 May 2018)

The surge in oil prices couldn’t have come at a worse time for India.

Asia’s No. 3 economy faces a wider trade deficit, a worsening of stretched government finances, and slower economic growth if oil prices remain stubborn at the current level. That would challenge policy makers trying to strengthen the economy in time for elections next year.

“Higher global ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

ProPublica-Funded Article on W. Virginia Shale Development is More Scare Tactic Than Objective Journalism

Attempting to draw parallels between West Virginia’s thriving natural gas industry and the region’s history of coal production, a recent article in the Charleston Gazette-Mail functions more as an anti-natural gas development scare tactic than objective piece of investigative journalism. As the first in a series of West Virginia-focused articles in partnership with New York City-based advocacy outlet ProPublica, ...

Source: Energy In Depth

Trump Administration Seeks to Expand Offshore Drilling, Relax Regulations (Tuesday, 1 May 2018)

With a looming production decline in the Gulf of Mexico, the Trump administration is moving quickly to reduce regulations and open up leasing across U.S. waters to attract more oil and gas companies.

Last week the agency that oversees offshore drilling announced plans to roll back Obama-era drilling regulations put in place following the explosion of the Deepwater Horizon ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Fugro Provides Seep Hunting Expertise Offshore Brazil (Monday, 30 April 2018)

Working for multi-client geoscience data company, TGS, Fugro continues the hunt for hydrocarbon seeps, this time offshore Brazil. Two modern, purpose-built vessels – Fugro Brasilis and Fugro Searcher – have been deployed to acquire high-resolution multi-beam echosounder and sub-bottom profiler data in the Campos and Santos basins. The survey is designed to mirror TGS’s successful 2016-2017 Gigante and Otos projects ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Data For 04/30/18

Summary Excerpt:

Regular Gasoline Retail Price
(Dollars per Gallon)
2.846 .. U.S.
2.789 ... East Coast
2.812 .... New England
2.910 .... Central Atlantic
2.692 .... Lower Atlantic
2.724 ... Midwest
2.589 ... Gulf Coast
2.803 ... Rocky Mountain
3.432 ... West Coast
3.128 ... West Coast less California

3.609 .... California
2.620 .... Colorado
2.699 .... Florida

Citi Says U.S. May Become World’s Top Oil Exporter Next Year (Monday, 30 April 2018)

The U.S. looks likely to overtake Saudi Arabia to become the world’s biggest oil exporter next year, according to Citigroup Inc.

With American production surging to unprecedented levels as OPEC continues curbing output, the U.S. is on course to be the top exporter of crude and oil products in 2019, Citigroup said in an April 25 note. American ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Soaring Oil Prices See Saudi Economy Bounce Back

Saudi Arabia’s success in leading both OPEC and non-OPEC production partners in reigning in record high OECD oil inventories amid the group’s ongoing oil output cut is starting to pay off for Riyadh. In a report late last week BMI Research said that the Saudi economy is poised to grow by 1.6 percent this year amid a rebound in ...

Source: Oilprice.com

Russian Regulator Clears Schlumberger For Eurasia Acquisition

Schlumberger has won the conditional approval of the Russian Federal Anti-Monopoly Service to acquire a stake of between 25 and 49 percent in Eurasia Drilling, which boasts a 20-percent market share of the local oil drilling market. The tie up would make it the top dog in this field. The deal does not fall within the scope of U.S. ...

Source: Oilprice.com