Oil Gas Prices

Impact from lower jet fuel prices on airline markets to fully manifest itself in 2016: IATA

Brian Pearce, IATA’s chief economist, talks to Ilana Djelal, associate editorial director for European clean products and Philippe Casey, European jet fuel editor on the impact of lower energy complex on downstream airline markets.

29 Jan 2015 | 6:15 am EST

BSEE responds to damaged unmanned platform offshore Louisiana

NEW ORLEANS -- The Bureau of Safety and Environmental Enforcement (BSEE) is responding to a damaged unmanned platform in South Timbalier (ST) Block 27 in the Gulf of Mexico approximately 5 miles south of Port Fourchon, Louisiana, in 50 ft of water. The ST 27 IA platform is operated by Energy XXI, GOM, LLC.

24 Jan 2015 | 2:47 pm EST

Hedging prevents airfares from tracking European jet fuel costs

Platts editors discuss why European airfares have not fallen in line with jet fuel prices, focusing on why hedging in the paper market prevents certain airlines from benefiting from the price declines.

23 Jan 2015 | 10:00 am EST

Baker Hughes: Rigs seeking U.S. oil fall to two-year low

HOUSTON (Bloomberg) -- U.S. drillers idled rigs seeking oil for a seventh week as production hovers near a three-decade high, contributing to a global glut that’s kept oil prices below $50/bbl for more than two weeks. The oil rig count dropped by 49 this week to 1,317, the lowest level in two years, Baker Hughes Inc. said on its website Friday. Those drilling for natural gas increased by six to 316. The total slid by 43 to 1,633.

23 Jan 2015 | 8:24 am EST

OneSubsea production system delivers success at Chevron’s Jack and St. Malo

HOUSTON -- OneSubsea, a Cameron and Schlumberger company, supplied the subsea production and processing systems for the Chevron-operated, deepwater Gulf of Mexico fields, Jack and St. Malo.

23 Jan 2015 | 4:39 am EST

Go to California for best look at oil industry's pain

SACRAMENTO, California  (Bloomberg) -- Little is going right for California’s oil industry. Turns out the state’s shale formation holds less promise than producers expected. Aging conventional wells are drying up. And a rebound in output that cost drillers as much as $3 billion annually to create has been overshadowed by shale oil gushing from wells in North Dakota and Texas.

23 Jan 2015 | 2:50 am EST

U.S. oil exporter scouting for buyers signals challenge for OPEC

HOUSTON (Bloomberg) -- Enterprise Product Partners LP is looking to sell a year’s supply of U.S. ultra-light oil to the global market, signaling another challenge for OPEC as it contends with the U.S. shale boom.

23 Jan 2015 | 2:01 am EST

Murkowski looks to Super Bowl for comparisons on Keystone delays

Murkowski addresses the Keystone XL pipeline delays compares Super Bowl WASHINGTON U.S. Sen. Lisa Murkowski, R Alaska, chairman of the Senate Energy and Natural Resources Committee, has addressed the Senate to reiterate her support of the Keystone XL pipeline and

22 Jan 2015 | 10:51 pm EST

Wellsite Rental appoints Stephen Sheppert as engineering manager

Wellsite Rental appoints Stephen Sheppert as engineering manager BROUSSARD, United States Wellsite Rental Services has appointed Stephen Sheppert as engineering manager. Sheppert’s responsibilities include engineering support for all of Wellsite’s product lines with primary focus on the hydraulically operated flush

22 Jan 2015 | 9:15 pm EST

Apache announces new CFO

Apache announces new CFO HOUSTON Apache Corporation has announced that Stephen Riney will be appointed as executive V.P. and CFO. He is scheduled to begin in February. Riney brings over 30 years of financial and accounting experience to the position.

22 Jan 2015 | 8:19 pm EST

Mexico’s bidding round will remain competitive, GlobalData says

LONDON -- With Mexican oil open to private investment for the first time, the country’s initial bidding round is expected to remain competitive despite low oil prices, delays and a number of uncertainties, according to research and consulting firm GlobalData.

22 Jan 2015 | 9:45 am EST

Bollinger Shipyards announces key promotions

LOCKPORT, Louisiana -- Bollinger Shipyards has announced the promotion of three key leaders. 

22 Jan 2015 | 4:01 am EST

Railroad Commission names new director for oil, gas division

AUSTIN -- The Railroad Commission of Texas (RRC) has named Lori Wrotenbery Director of the Commission’s Oil and Gas Division. She holds a bachelor’s degree in geology from the University of Texas and a law degree from Harvard University.

22 Jan 2015 | 3:21 am EST

Exploratory oil drilling increased 75% in fourth quarter, API says

WASHINGTON -- Estimated U.S. exploratory oil well completions increased by 75% in the fourth quarter of 2014 compared to year-ago levels, according to API' s 2014 Quarterly Well Completion Report, Fourth Quarter.

22 Jan 2015 | 2:02 am EST

Oil trades below $48 as U.S. crude supplies seen worsening glut

Oil trades below $48 as U.S. crude supplies seen worsening glut By BEN SHARPLES MELBOURNE (Bloomberg) Oil traded below $48 bbl before government data that’s forecast to show U.S. crude inventories expanded for a second week. Futures dropped as much

21 Jan 2015 | 11:01 pm EST

Kinder Morgan acquires Hiland Partners for $3 billion

Kinder Morgan acquires Hiland Partners for $3 billion HOUSTON Kinder Morgan has inked a definitive agreement whereby KMI will acquire Hiland Partners (Hiland) from its founder, Harold Hamm, and certain Hamm family trusts, for a total purchase price of approximately

21 Jan 2015 | 10:06 pm EST

Kinder Morgan buys Hamm’s Hiland Partners to gain Bakken footprint

HOUSTON -- Kinder Morgan Inc. (KMI) has announced a definitive agreement whereby KMI will acquire Hiland Partners from its founder, Harold Hamm, and certain Hamm family trusts, for a total purchase price of approximately $3 billion, including the assumption of debt.

21 Jan 2015 | 2:22 pm EST

University of Houston to lead offshore energy research center

HOUSTON -- The University of Houston (UH) will lead a national research center for subsea engineering and other offshore energy development issues, including research and technology to improve the sustainable and safe development of energy resources in the Gulf of Mexico.

21 Jan 2015 | 5:12 am EST

Senate Republicans block Keystone export and steel amendments

WASHINGTON, D.C. (Bloomberg) -- Senate Republicans blocked two attempts to amend legislation forcing approval of the Keystone XL pipeline that would have required the project be built with domestically produced steel and that the oil be used in the U.S.

21 Jan 2015 | 5:07 am EST

Oil will not recover until supply growth slows, says Yergin

DUBAI (Bloomberg) -- Oil prices won’t rebound until production growth slows, as even political risks in the Middle East and Africa remain secondary to the glut on crude markets, said Pulitzer Prize-winning oil historian Daniel Yergin.

21 Jan 2015 | 4:57 am EST


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