Regions
![Regions](/cache/2015/03/UK-18.1e4f1d64.jpg)
2015, March, 13, 22:10:00
8,000 JOBS TO UK
UK oil and gas companies expect to create thousands of jobs over the next two years despite the dramatic slide in oil prices.
![Regions](/cache/2015/03/GE-2.74d8a6fd.jpg)
2015, March, 13, 22:05:00
GE IS CUTTING
Not long ago, oil looked like a black gold mine for General Electric. The company known for toaster ovens and lightbulbs wrapped up a three-year, $10 billion buying spree in 2013 to bolster the growing oil and gas equipment unit that helped GE recover from the financial crisis. The company bulked up with the expectation that crude prices would remain at about $100 a barrel for years.
![Regions](/cache/2015/03/USA-132.f390c6a7.jpg)
2015, March, 12, 21:15:00
U.S. STRATEGIC ERROR
Capital spending budgets are being cut back, drilling rigs idled and staff laid off. The remarkable growth of US oil production, which brought more than 1m barrels per day of additional supply on to world markets in each of the past three years, seems likely to flatten out this year.
![Regions](/cache/2015/03/UKRAINE-16.d8955c0d.jpg)
2015, March, 12, 21:10:00
UKRAINE’S EXISTENTIAL CHALLENGES
Ukraine is facing existential challenges, and energy security is one of them. The country is dependent on Russia supplying most of its natural gas as well as uranium fuel for its nuclear reactors. Under these very difficult circumstances, a government with a holistic view of its strategic security and energy goals would logically develop a policy aimed at encouraging increased domestic oil and gas production. Unfortunately, Kyiv is doing the opposite.
![Regions](/cache/2015/03/CHINA-58.5c938083.jpg)
2015, March, 12, 21:05:00
RUSSIA & CHINA DEAL
Moscow and Beijing will sign an agreement on the pipeline shipping gas from Western Siberia to China by the end of the year, Foreign Minister Wang Yi said on Monday, adding that his government will intensify trade ties with Russia in the coming months.
![Regions](/cache/2015/03/SAUDI-25.5ae5fcb0.jpg)
2015, March, 12, 21:00:00
SAUDI’S STRATEGY
In December Saudi Arabia’s oil minister Ali al-Naimi posed an interesting question: “Is there a black swan out there that we don’t know about which will come by 2050 and we will have no demand?”
![Regions](/cache/2015/03/UKRAINE-15.66f6a52f.jpg)
2015, March, 12, 20:55:00
UKRAINE RISK BAIL OUT
The International Monetary Fund on Wednesday approved a bigger, high-risk bailout for Ukraine, giving Kiev immediate access to $5 billion of $17.5 billion in emergency IMF credit in another bid to keep the embattled country afloat.
![Regions](/cache/2015/03/SOUTH-STREAM-29.1f4d4bbb.jpg)
2015, March, 12, 20:50:00
BULGARIA WANT SOUTH STREAM
The Bulgarian Government reportedly launched a €33,000 tender for the offshore section of the South Stream project, in order to better understand some financial implications of the project.
![Regions](/cache/2015/03/DUTCH-3.b968df91.jpg)
2015, March, 12, 20:45:00
DUTCH QUAKES
Towns in the northern province of Groningen sit atop the continent’s biggest gas field, where the Dutch government says exploration by Royal Dutch Shell Plc and Exxon Mobil Corp. has triggered 196 earthquakes since 2013, damaging buildings and making home sales difficult. Lawmakers, seeking support in provincial elections March 18, have responded to residents’ complaints with a proposed cut in gas production, the second since December, in the hope that less output means fewer tremors.
![Regions](/cache/2015/03/AFRICA-37.9693d0c3.jpg)
2015, March, 12, 20:40:00
CHALLENGES IN SAHARA
Significantly lower crude oil prices have reduced foreign companies’ interest in developing oil and gas resources in sub-Saharan Africa nations, speakers at a Woodrow Wilson Center for International Studies seminar agreed. Lower prices also could give governments some time to develop better frameworks so economic and social benefits reach their countries’ general populations, they added.
![Regions](/cache/2015/03/USA-127.788fbde3.jpg)
2015, March, 12, 20:12:00
U.S. RIGS: DOWN FROM 1920 TO 1192
The US drilling rig count plunged 75 units—all on land—to settle at 1,192 rigs working during the week ended Mar. 6, according to data from Baker Hughes Inc.
That total is the lowest since Dec. 11, 2009, and 600 fewer units compared with this week a year ago. The count has now fallen in 14 consecutive weeks, losing 728 units during that time
![Regions](/cache/2015/03/BP-27.efc77ad9.jpg)
2015, March, 9, 19:15:00
THE NEW RUSSIAN EMPIRE
Ex-BP boss aims to build major energy industry player from scratch
Lord Browne heads new oligarch-backed $10bn fund L1 which is buying up energy industry assets while price of oil is low
![Regions](/cache/2015/03/GAS-58.46633800.jpg)
2015, March, 9, 19:10:00
THE HORRIBLE RUSSIAN GAS
Russia’s bid for Turkish Stream pipeline may open the gates to the competition it most fears
![Regions](/cache/2015/03/CHINA-57.25cb0f79.jpg)
2015, March, 9, 19:05:00
CHINA ANNOUNCES START
CNOOC announces production start at offshore exploration project
![Regions](/cache/2015/03/AUSTRALIA-6.fd3c0bb6.jpg)
2015, March, 9, 19:00:00
GE OPENS AUSTRALIA
GE announced on March 6 its new oil and natural gas facility in Broome, Western Australia, is finished and operational. The location includes a custom-build workshop, a warehouse, office space and an equipment hardstand area.