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March 2016

March 2016
2016, March, 29, 19:00:00
U.S. OIL PRODUCTION UP
U.S. crude oil production from the Lower 48 states from new wells (drilled since the start of 2014) made up 48% of total U.S. crude oil production in 2015, up from 22% in 2007. Production from new wells has grown as advances in horizontal drilling and completion techniques led to growth in oil production from low-permeability tight reservoirs. In 2015, production from tight formations—which include, but are not limited to, shale plays—accounted for more than 4 million barrels per day (b/d), or 50% of total U.S. oil production.
March 2016
2016, March, 29, 18:55:00
GERMAN GAS UP 35%
Germany consumed 5% more gas and its imports were 13% higher than in 2014. But the surprising statistic is that its 2015 exports of gas grew by 35% year-on-year to top 30bn m3.
March 2016
2016, March, 29, 18:50:00
NORD STREAM: THE PERFECT OPPORTUNITY
It says that two thirds of the gas will flow towards the Central European Gas Hub in Baumgarten, Austria. “This hub offers ideal connectivity and can handle large flows to central, east, southeast and south European countries, boosting their gas markets to comparable levels of liquidity and competiveness as in northwest Europe.”
March 2016
2016, March, 29, 18:45:00
ISRAELI GAS DECISION
Critics said the deal gave too much profit to corporations at the public's expense. The court opposed a clause that would prevent Israel from making significant regulatory changes for the next ten years.
March 2016
2016, March, 29, 18:40:00
UK OIL PRODUCTION UP
The U.K. is the second-largest liquids producer in Europe (after Norway), producing one million b/d in 2015. This amount is large among European countries but small in the global market, and the U.K. remains a net importer of petroleum and other liquids. More than 97% of its liquids production in 2015 came from offshore fields, where petroleum development projects have long lead times. The majority of the offshore crude and condensate fields that began production in 2015 were approved in 2012 or earlier when oil prices were much higher.
March 2016
2016, March, 29, 18:35:00
U.S. LNG FOR TURKEY
Turkey has for the first time imported liquefied natural gas (LNG) from the US in 2016, said the message from Turkey’s Energy Market Regulatory Authority (EMRA).
March 2016
2016, March, 29, 18:30:00
MONEY LEAVE EXXON
The Rockefeller Family Fund said on Wednesday it would divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil Corp, saying the oil company associated with the family fortune has misled the public about climate change risks.
March 2016
2016, March, 29, 18:25:00
ONGC APPROVES $5 BLN
The board of India’s Oil & Natural Gas Corp. Ltd. approved a $5-billion offshore oil and natural gas development plan for the Krishna-Godavari basin off the country’s east coast.
March 2016
2016, March, 29, 18:20:00
SHELL NEED $30 BLN
Royal Dutch Shell has confirmed it is reviewing the case for selling some of its North Sea assets in the wake of its £35bn takeover of rival oil and gas producer, BG Group.
March 2016
2016, March, 29, 18:15:00
ROSNEFT: 5 MBD
Rosneft set a new record, having increased hydrocarbon production up to 254.2 mmtoe (5.16 mmboed). Development drilling meterage increased by 36% and reached 6.9 mln meters. More than 1.8 thousand of new wells were commissioned.