35816 Search results for ‘’

Oil & Gas

Opinion: OPEC may be losing oil pricing power

08/12/2015

In May 2014, the new deal Gazprom signed to supply 38 billion cubic meters (bcm), which is about the amount NY state uses annually, of natural gas to China each year for the next 30 years changed the world more than anyone may have anticipated. It’s not just because it took 10 years to negotiate or was estimated to be worth about $400 billion at the time, but it seems to be the catalyst that sparked the current global oil war. In the midst of economic slowdowns in Europe and Asia and new technologies catapulting the U.S. into a leading world oil producer, OPEC decided to stop supporting oil prices and maintain market share by increasing oil production.

Oil & Gas

Ukraine’s PM calls for halt on Nord Stream II pipeline project

07/12/2015

The Prime Minister of Ukraine has called for the European Union to block the Nord Steam II gas pipeline project, according to reports. The leader said it would hurt his country and also potentially provide Russia with more of a monopoly over gas supplies in the region.

Oil & Gas

ConocoPhillips boss predicts higher oil price in 2016

07/12/2015

The chief executive of ConocoPhillips said he expects oil prices to recover next year as investment in new oil output facilities falter. Ryan Lance made the comments as he spoke to journalists in Doha at the International Petroleum Technology Conference (IPTC) in Doha.

Oil & Gas

Workers rescued from vessel after engine fails close to North Sea platform

07/12/2015

An investigation was to take place after three men had to be rescued from a boat near a North Sea platform. Crew members on board the daughter craft of the Grampian Courageous standby vessel were forced to call for help after the engine of the boat failed. Daughter craft are smaller, more maneuverable boats, that operate from bigger emergency response and rescue vessels.