Energy Update

You are here

Home » Global Read

U.S. oil drillers cut rigs for ninth week in ten -Baker Hughes

Jan 22 (Reuters) - U.S. energy firms this week cut oil rigs for a ninth week in the last ten, data showed on Friday, and were expected to shed more in coming weeks due to a recent collapse in crude prices to the lowest levels since 2003. Drillers removed five oil rigs in the week ended Jan. 22, bringing the total rig count down to 510, the least since April 2010, oil services company Baker Hughes Inc said in its closely followed report.

UPDATE 2-Obama administration seeks to curb methane emissions on public land

WASHINGTON, Jan 22 (Reuters) - In its latest move to combat climate change, the Obama administration on Friday said it will overhaul 30-year-old regulations for oil and gas operations on public and tribal lands to limit the "wasteful release" of natural gas and curb methane emissions.

UPDATE 3-Schlumberger sees no pickup in oilfield activity before 2017

* Shares rise as much as 8 pct (Adds details; updates shares)

Fires still raging at major Libyan oil terminal after attack

BENGHAZI, Libya, Jan 22 (Reuters) - Fires at oil storage tanks in the major Libyan terminal of Ras Lanuf were still raging on Friday more than 24 hours after an attack by Islamic State militants, a firefighting official said.

UPDATE 2-Venezuela's PDVSA says consolidated debt dipped in 2015 to $43.8 bln

CARACAS, Jan 22 (Reuters) - Venezuelan state oil company PDVSA's consolidated financial debt fell roughly 4.3 percent in 2015 compared with the previous year to around $43.8 billion, the company said on Friday, a figure that does not include debts to service providers.

UPDATE 1-QUOTEBOX-Schlumberger CEO sees no significant recovery in activity before 2017

Jan 22 (Reuters) - Schlumberger Ltd/NV the world's No. 1 provider of oilfield services, does not expect any significant recovery in the company's activity levels before 2017, Chief Executive Paal Kibsgaard said on a conference call on Friday.

CORRECTED-COLUMN-"Notional stocks" stir controversy about oil data: Kemp

LONDON, Jan 22 (Reuters) - "No other industry begins to offer the data problems that are presented by petroleum," wrote John Blair, a former U.S. government official exactly 40 years ago ("The Control of Oil", Blair, 1976).

To Cut Emissions Faster, US Should Ditch Tax Credit-based Subsidies for Renewables

Recent studies indicate that tax credits are not the most effective means of achieving cutting greenhouse gas emissions.

Fearful Mozambicans flee as old foes clash

Obama administration seeks to curb methane emissions on public land

WASHINGTON, Jan 22 (Reuters) - In its latest move to combat climate change, the Obama administration on Friday said it will overhaul 30-year-old regulations for oil and gas operations on public and tribal lands to limit the "wasteful release" of natural gas and curb methane emissions.

Pages

GET IN TOUCH

  • 1875 I Street NW, International Square, 
       Washington, District Of Columbia, 20006
  • Phone: +1 (888) 317-3839
  • Email: info@mglllc.com

About

Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.

Photos