Australia Pacific LNG receives first gas at Curtis Island

Ultra-deepwater pipeline flows first gas in Gulf of Mexico

Turkey's energy minister and Russia’s Gazprom chief took a helicopter ride over the Black Sea to survey a possible route of the “Turkish Stream” pipeline Saturday.

RUSSIA'S GAS EXPORT REORIENTATION IS A LOGICAL MOVE

Gazprom to market Yamal-sourced LNG to Europe and South America

China’s National Development and Reform Commission (NDRC) has approved Sinopec Beijing Yanshan Petrochemical Co. Ltd., a subsidiary of China National Petroleum Corp. (Sinopec), to proceed with its plans to build a grassroots refinery in Caofeidian Industrial Zone, Tangshan, Hebei Province, China

A Deloitte MarketPoint analysis suggested large-field projects, each producing more than 25,000 b/d, could bring on 1.835 million b/d in oil supply this year of which 635,000 b/d would be from members of the Organization of Petroleum Exporting Countries and the rest from non-OPEC productions.

Monthly average crude oil prices continued to decline during November. The average domestic crude oil first purchase price fell $7.76 (9.8 percent), to $71.07 per barrel.

The US drilling rig count plunged 87 units, a decline that was again spurred mostly by oil rigs, to settle at 1,456 rigs working during the week ended Feb. 6, Baker Hughes Inc. reported.

Oil-price collapse may aggravate producing nations’ other problems

Crude oil prices on the New York market bounced up $2/bbl to settle slightly above $50/bbl Feb. 5. The positive momentum continued during early Jan. 6 trading in what has proved to be a turbulent week for oil prices.

Statoil reduces capital budget by $2 billion following 4Q losses

Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA (Petrobras) since 2012, has resigned along with five other senior executives.

Statoil’s (OSE: STL, NYSE: STO) board of directors has appointed Eldar Sætre as new president and CEO.

Obama floats offering first-ever offshore drilling lease in Atlantic