Global Upstream Oil And Gas Spending To Fall In 2016. The International Energy Agency says it expects global upstream investments to plummet 24 percent this year.[Reuters]
Scotland Touts Performance of North Sea Energy. Scottish officials say production at North Sea oil and gas fields is up by around 20 percent from last year. [UPI]
UK, Argentina To Cooperate On Falklands Oil And Gas Restrictions. It’s been over 30 years since both nations fought a war in the South Atlantic and now both countries are working to remove measures restricting industries around the Falkland Islands. [YNet]
Pemex Discovers New Crude Deposits In Gulf Of Mexico. Mexico’s state oil company said it had disovered six new deposits, which have only now been made public as officials worked to quantify the reserves. [Petroleum World]
Industry Presses On With Dakota Access Pipeline. Industry leaders are moving forward with the controversial pipeline “for the sake of the nation’s oil economy.” [UPI]
Southern California Gas Reaches $4 Million Settlement Over Leak. Company officials and state officials reached a $4 million settlement in a case focused on a 2015 gas leak that forced the evacuation of 6,000 people. [The New York Times]
Norway Acknowledges Energy Market Pressures. Norwegian officials say the government surplus is declining and the economy is facing pressure from low oil prices. [UPI]
Wall Street Looks At Higher Open Amid Oil Volatility. Uneasy oil prices makes for uneasy trading. [CNBC]
China’s Crude Imports Will Keep Surging. As Beijing continues to fill its Strategic Petroleum Reserve, Chinese crude imports will remain strong amid off-the-mark reports about the nation nearing its maximum inventory. [Forbes]
Anadarko To Acquire Freeport-McMoRran’s Gulf of Mexico Assets. Anadarko agreed to purchase Freeport-McMoRan Oil & Gas’ deepwater Gulf of Mexico properties in a deal expected to close later this year. [Offshore Magazine]