Pacific NorthWest announces a conditional FID Petronas-led Pacific NorthWest LNG announced today that the technical and commercial components of the project have been met, and the company plans to move forward with the final investment decision (FID) on two conditions, according to a company press release. The first is the approval of the Project Development Agreement by the Legislative Assembly
Protestors in petroleum-based kayaks may be dominating headlines in Seattle, but Royal Dutch Shell’s (ticker: RDS.B) state of the art rig may help revitalize a prominent part of the U.S. energy sector that has been in decline for more than 20 years. Since 1991, Alaska’s crude production has slipped to 500 MBOPD from 1,800 MBOPD. The slide is expected to
42 years after the Arab oil embargo knocked the U.S. for a loop, energy experts are cheering the fact that the U.S. is the world’s number one producer—but Harvard University’s business school sees “a real risk that American citizens, companies, and communities will fail to capitalize on this opportunity” At the University of Colorado-Denver’s Global Energy Management program’s 2015 “Energy Moving
Oil sands remain the primary driver of Canadian production The Canadian Association of Petroleum Producers (CAPP) released its annual Crude Oil Forecast, Markets and Transportation report for 2015, projecting Canadian crude oil production to grow 43% to 5.3 MMBOPD by 2030. CAPP expects most of this increased production to come from the Canadian oil sands. According to the 2015 report,
Alerian announced today that it will be changing the companies monitored in its AMEI index in a quarterly rebalancing The Alerian Energy Infrastructure Index (AMEI) will be adding some new companies and dropping a few old ones during a scheduled, quarterly rebalancing at the close of business on Friday, June 19, according to a press release from Alerian. Groups being
Baker Hughes rig count for the week ended May 12, 2015: 859 The total number of active rigs drilling in the United States fell to 859 for the week ended June 12, 2015, according to Baker Hughes (ticker: BHI). For the week ended December 12, 2014, the U.S. rig count was at 1,893, marking a decline of 1,034 rigs in
China consumes more energy than all of North America combined: BP The United States was awarded the banner of “Greatest Hydrocarbon Producer” in BP plc’s (ticker: BP) latest Statistical Review of World Energy. The achievement is considerable, but BP’s intentions move far beyond naming and world’s leading energy manufacturer. The 2015 Statistical Review is the 64th publication and takes more
Petrobras announces that, on May 2015, its oil and natural gas production was 2 million 766 thousand barrels of oil equivalent per day (boed), in Brazil and abroad, 0.7% lower than the volume produced on April (2 million 785 thousand boed) and 6.2% superior to the volume produced on May 2014 (2 million 605 thousand boed). Oil and gas production
Weakness in the offshore market causes Helix to delay its latest well intervention vessel Helix Energy (ticker: HLX) announced today that it will be delaying construction of its Q7000 well intervention vessel, according to a company 8-K. The company said that it plans to push back delivery of the Q7000 from mid-2016 until July, 2017. Helix is an offshore service company that
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