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Increasing domestic production of crude oil reduces net petroleum imports

In its recently released Annual Energy Outlook 2015 (AEO2015) Reference case, EIA expects U.S. crude oil production to rise through 2020 as oil prices recover from their steep decline, reducing net petroleum (crude oil and petroleum products) imports. AEO 201 ...

By 2020, U.S. to Emerge as Largest Exporter of Light Naphtha, Essential for Production of Gasoline and Chemicals, IHS Says

Global production of light naphtha, an essential steam-cracker feedstock for the production of gasoline and numerous chemicals, is increasing and could create a global surplus that exceeds market demand by as much as 14 million metric tons (MMT) by 2020. This ...

Oil price, Chariot, Egdon, And finally...

Oil price Just how quiet it was in the market yesterday is reflected in the rare occurrence of a n/c in the Brent price. What might we see coming up in the crude market? Well its the expiry of the May WTI contract today which might show some rolling over and ...

Zion Oil & Gas appoints new director

Zion Oil & Gas, Inc. (Nasdaq:ZN) announces the appointment of a new director to its Board of Directors and the amendment of the corporate Bylaws to create new directorships. Appointment to Newly Created Directorship Dustin L. Guinn has been appointed to the ...


Bankers Petroleum - A masterclass in unlocking heavy oil potential

Since 2004 Bankers Petroleum has grown production at its Albanian heavy oilfield, Patos-Marinza, from 400b/d to more than 20,000b/d in 2014. The group's successful three-point strategy comprising production growth from horizontal drilling, ongoing opex reducti ...

American Energy Partners announces changes to management team

As part of its ongoing strategy to broaden and deepen its management team, American Energy Partners, LP (AELP) today announced that it has hired Scott D. Sachs as Senior Geoscience Executive Advisor, James C. Johnson as Senior Marketing and Midstream Executive ...

Pine Cliff Energy enters agreement to acquire core area assets

Pine Cliff Energy Ltd. (TSX VENTURE:PNE) announces that it has, in conjunction with Velvet Energy Ltd., entered into a purchase and sale agreement with a mid-size oil and gas producer to acquire oil and natural gas assets in both of its Southern core area and ...

Denbury Resources - A great oil business, but not as you know it

Denbury Resources (DNR) specialises in monetising stranded oil from depleted oilfields in the US. The group achieves this via the large-scale injection and sweep of carbon dioxide (CO2) through reservoirs. Over the last 10 years DNR has developed a technical e ...

Baker Hughes announces first quarter results

Baker Hughes Incorporated (NYSE: BHI) announced today results for the first quarter of 2015. Highlights: 20% decline in revenue compared to the first quarter of 2014 attributed to unfavorable market conditions. GAAP net loss per diluted share of $1.35 for the ...

Key Petroleum provides operational update on Perth Basin activities; all approvals granted for Dunnart-2 completion and testing

Further to our announcement of 17 April 2015, Key Petroleum (Australia) Pty Ltd, a wholly owned subsidiary of Key Petroleum Limited and Operator, is pleased to provide an update in relation to planned testing operations at Dunnart-2 in Exploration Permit EP437 ...

Galilee Energy identifies significant additional zones in Hoffer B1

Galilee Energy Limited (ASX:GLL) announces that preliminary analysis of the cased hole logs on the Hoffer B1 well in Lavaca County, Texas, has identified a number of significant gross sandstone intervals in the lower section of the well. This is in addition to ...

Eneabba Gas provides company and Ocean Hill update

Appointment of Mr Garry Marsden as Chairman of Eneabba Gas Eneabba Gas Limited is pleased to announce the appointment of Mr Garry Marsden as non-executive Chairman of Eneabba Gas Limited. Garry is a petroleum geologist by training and has held positions with ...

Cooper Energy provides update on Bunian-3 development well

Cooper Energy Limited (ASX:COE) advises that the Bunian-3 ST2 development well in the Sukananti KSO, South Sumatra, Indonesia, is being prepared for production testing, having been cased and suspended as a future producer. A comprehensive suite of cased hole ...

OPEC hit as 'peak oil demand' arrives and US imports fall

Oil market traders have been having fun in recent weeks, as they have managed to create guaranteed price movements every week: US oil inventory data is published on Tuesday and Wednesday This gives traders the chance to push prices lower as the inventories co ...
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