Category: News

DENVER – The Colorado Petroleum Council, a division of the American Petroleum Institute, today released a report about the role that the natural gas and oil industry plays in the state. The report reviews the essential role the industry plays in supporting Colorado’s high quality of life, including contributing to educational funds, supporting the expansion of available medical facilities, and lowering…

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Kane Russell Coleman Logan PC’s Energy Practice Group will be will be hosting a complimentary breakfast seminar, Legal Developments at the Intersection of the Oil Patch and the New Administration, on July 19, 2018, from 8:00–10:30 a.m. at the Hess Club in Houston, Texas. You can register now by clicking here. The full agenda is as follows: 7:30–8:15 a.m.: Registration 8:15: Opening Remarks (Thomas Ciarlone)…

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Houma, La. – CORTEC, a leading manufacturer of high quality API valves and manifolds, received a 2018 Louisiana Lantern Award for excellence in manufacturing and outstanding community service, presented by Louisiana Economic Development (LED). CORTEC was chosen by Louisiana’s eight regional planning and development districts, based on contributions to the community, employment growth and facility expansion. LED began the Lantern…

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Austin, TX – Drillinginfo, the leading energy SaaS and data analytics company, has announced the acquisition of 1Derrick and PLS’s research and database business, two highly visible companies in the oil and gas industry that offer solutions for sourcing, valuing, and analyzing asset and corporate transactions. These acquisitions position Drillinginfo as a global leader in delivering intelligence on oil and…

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Join Us on Tuesday, August 14 and Earn Valuable CEUs The Independent Petroleum Association of America (IPAA) is holding an Oil & Gas Overview Course in Houston during Summer NAPE week. This one-day, information-packed class is open to the public and will focus on the upstream sector of the oil and natural gas industry. It is expected to draw attendees…

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BELFIELD, N.D. – Meridian Energy Group, Inc., the leading developer of innovative and environmentally-compliant oil refining facilities, announced today that the North Dakota Department of Health (“NDDoH”) – Air Quality Division has issued the Permit to Construct (“PTC”) for the Davis Refinery. The issuance of the PTC by the NDDoH comes 18 months after the initial application was filed by Meridian and is based on…

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GRAY, La. – Danos is pleased to announce that Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell, has awarded a contract to Danos to provide coatings for Shell’s deep-water Appomattox platform in the Gulf of Mexico. The coatings project is expected to last approximately six months. “Danos has a history of high performance with Shell that goes…

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Over the past 58 years, major oil-producing states have aligned their interests in the ‘Organization of Oil Producing Countries’. During those years, OPEC has been able to steer price of ‘black gold’ in a direction more favorable to its members. The goal of this organization has been to “coordinate and unify the petroleum policies of its members”, while at the …

Just a few short years after economists and social theorists declared that we had entered the Third Industrial Revolution, the next revolution is already on the horizon. Fueled by artificial intelligence, 5G, the internet of things and augmented reality, these next steps might be the biggest leap forward humanity has ever made. And make no mistake, this revolution will be …

A Korea Advanced Institute of Science and Technology (KAIST) research team has proposed a perovskite material that serves as a potential active material for highly efficient lead-free thin-film photovoltaic devices. This material is expected to lay the foundation to overcome previously known limitations of perovskite including its stability and toxicity issues. The KAIST research team has proposed a perovskite material, …

Upwards of a thousand dignitaries – including the presidents of Turkey, Georgia, Azerbaijan, Ukraine, and Serbia – assembled June 12 at a barren site outside the northwestern Turkish city of Eski?ehir to take part in a new Turkish tradition: the glitzy infrastructure commissioning ceremony. The occasion was the inauguration of the first phase of the Trans Anatolian Gas Pipeline …

A division of Germany's Siemens has been awarded a contract worth about 1.5 billionpounds ($2 billion) to design and build 94 new trains for thePiccadilly Line on London's metropolitan train network, known asthe Tube. Transport for London (TfL), the public body in charge of theTube, said the award of the contract would allow SiemensMobility Limited [Read More…]

Venezuela’s plummeting oil production is nearing the psychological threshold of just 1 million bpd as early as this year, analysts and industry experts tell Platts. Venezuela’s production plummeted again in May, by 42,500 bpd from April to below 1.4 million bpd—1.392 million bpd, according to OPEC’s secondary sources in its latest Monthly Oil Market Report published earlier this …

Venezuela’s plummeting oil production is nearing the psychological threshold of just 1 million bpd as early as this year, analysts and industry experts tell Platts. Venezuela’s production plummeted again in May, by 42,500 bpd from April to below 1.4 million bpd—1.392 million bpd, according to OPEC’s secondary sources in its latest Monthly Oil Market Report published earlier this …

Norway’s Petroleum and Energy Minister Terje Søviknes will meet next week with companies and other stakeholders to discuss the potential construction of offshore floating wind farms in Norwegian waters, Søviknes told Reuters on Friday. “Wednesday next week I will have a meeting with different stakeholders in offshore wind and discuss both the opening process and the regulatory framework,” the minister …

August West Texas Intermediate crude oil futures are in a position to close higher for the week as investors prepare for next week’s OPEC meeting in Vienna on June 22-23. Investors shouldn’t read into this week’s modest gain because the strength was likely generated by short-covering and position-squaring. The relatively low volume over the past two weeks suggests that the …

As OPEC’s June 22 summit rapidly approaches, everything hangs in the balance for the organization’s precarious (to say the least) relationship with United States shale CEOs. But suddenly, for the first time in years, it looks like the two sides of the oil price battle have found some common ground. According to reporting by Reuters, interviews with analysts, executives and …

Norway’s Petroleum and Energy Minister Terje Søviknes will meet next week with companies and other stakeholders to discuss the potential construction of offshore floating wind farms in Norwegian waters, Søviknes told Reuters on Friday. “Wednesday next week I will have a meeting with different stakeholders in offshore wind and discuss both the opening process and the regulatory framework,” the minister …

There is an old traders’ cliché that says that it is dangerous to attempt to catch a falling knife. Like most clichés there is an element of truth to that, but I can assure you that thousands of traders in thousands of dealing rooms around the world do that, or more accurately what looks like that, every day. They know …

Friday June 15, 2018 In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look. (Click to enlarge) Key Takeaways – The …