1.BP Profits Drop In Second Quarter Report.
BP has less than stellar profits in second quarter, according to the latest report.
2.Texas Oil Cuts Eased In June.
Texas drillers have handed out pink slips to 1 of 5 employees since last June, but lately, the pace of the industry’s job cuts has slowed.
3.India, US discover Major Natural Gas Deposit.
“A joint expedition by India and the U.S. discovered a major deposit of natural gas in the Indian Ocean, offering the potential to significantly expand energy production in a region that’s currently a big importer.”
4.InterOil’s Founder Balks At ExxonMobil’s Purchase.
Found of InterOil, and its third-largest investor, said the offer to buy the company was “vastly inadequate.
5.North Sea Shell Workers Go On Strike.
Members of the RMT and Unite unions employed by the Wood Group on Shell platforms walked out this morning – the first strike of its kind in a generation.
6.LNG Surge Begins To Weaken. LNG’s surge is running out of gas as global trends show the market with an increasing supply that could outweigh global demand.
7.European Development Bank Considers Funding Gas Pipeline.
The European Bank for Reconstruction and Development is looking to support financially the development of the Trans Adriatic Pipeline, which plans to bring gas across the Balkans and on to Italy.
8.Consol Energy Reports Second Quarter Loss.
“Oil, gas, and coal company struggles with low commodity prices but cuts costs to compensate.”
9.China National Petroleum Corp.Boosts Income.
The company said profit rose while spending cuts boosted earnings.
10.Delays, Cost Overruns Putting Projects At Risk.
Oil and gas companies appear to have major issues with completing projects on time and on budget.