Oil Falls Early Monday As Iran Firm On Export Rise, U.S. Rigs Decline Slower. Brent crude prices fell for a fourth consecutive session on Monday as investor focus returned to global supply, with Iran insisting on a rise in oil exports and U.S. drillers slowing the reduction in rigs. [Reuters]
US To Streamline LNG Export Process. An improved, quicker process of getting US-produced liquefied natural gas (LNG) shipments to foreign markets took a step closer to reality with the House of Representatives passing a defence-related bill that includes LNG provisions. [Splash 247, Oilpro]
Canada Seeks to Resume Production After Fire. Municipal authorities in Alberta, citing improved conditions late on Friday, lifted mandatory evacuation orders for seven oil-sands worker camps and production facilities, including Suncor’s base plant mine and Syncrude’s Mildred Lake operation. [Bloomberg]
North American Oil And Gas Bankruptcies Rise Above 70. A number of new oil and gas bankruptcies has been announced in recent days, pushing the total number in North America above 70, while others start to emerge from bankruptcy protection. [Oilpro]
Africa’s Busiest Oil Industry Is Running Hard to Stand Still. Algeria has more drilling rigs than the rest of Africa combined, yet oil production still isn’t recovering after years of decline. It’s little wonder the nation remains one of the most vocal supporters of action to increase prices by curbing output at the OPEC meeting next month. [Bloomberg]
Texas Supreme Court Rules In Favor Of Schlumberger In Trade Secrets Case. The Texas Supreme Court ruled on Friday in favor of Schlumberger subsidiary M-I SWACO in a trade secrets dispute involving a National Oilwell Varco employee who had previously been one of MI-SWACO’s business development managers. [Oilpro]
Morgan Stanley: Oil Discoveries Sink To Lowest Since 1952. il discoveries in 2015 fell to their lowest since 1952 as energy companies slashed exploration budgets in the wake of the oil price fall, creating a gap for meeting future demand, analysts at Morgan Stanley said on Monday. [Fiscal Times]
Hyundai Heavy Industries To Exit Offshore Plant Construction. In a huge change of direction for the world’s largest shipbuilder, local media in South Korea is reporting under pressure Hyundai Heavy Industries (HHI) has decided to ditch offshore plant construction. [Splash 247, Oilpro]
Construction Begins On $3.8bn Bakken-To-Illinois Dakota Access Pipeline.Construction has begun on the $3.8 billion, 1,150-mile Dakota Access Pipeline, which will move oil from North Dakota’s Bakken shale play to Illinois. [Oilpro]
Woodside Mulls Myanmar Gas Development Options, Plans Further Drilling. Woodside is considering development options on its two discoveries offshore Myanmar, as well as a 4-7 well drilling campaign next year, the firm said this morning. [oedigital.com, Oilpro]
Meet Future O&G Geologist, Andrew Armstrong, #HUMANSofOG. “I hope to be able to bring the skills I have learned in mining to the oil and gas industry one day as I like howthe oil biz has operations in all types of locations and environments and the oil and gas people seem to have such a great, tight knit community.” [Oilpro]
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