Marathon Oil Cuts 2015 Capex About 20%

Marathon Oil Corp on Wednesday said its capital expenditures will be about 20 percent lower next year due to the steep drop in crude oil prices.   Marathon said it expects to spend about $4.

Chevron Cancels Canadian Arctic Drilling

Chevron Corp is putting a plan to drill for oil in the Beaufort Sea in Canada's Arctic on hold indefinitely because of what it called "economic uncertainty in the industry" as oil prices fall.

Imperial Oil Exploration Plans in Arctic Unchanged

Imperial Oil Ltd's plans to drill for oil in the Beaufort Sea in Canada's Arctic have not changed despite the recent slide in oil prices, spokesman Pius Rolheiser said on Wednesday.

NOIA Disappointed by Obama’s Bristol Bay Action

On Tuesday, U.S. President Barack Obama designated Alaska’s Bristol Bay area off limits for oil and gas leasing, the White House said.   National Ocean Industries

EU Lawmakers Fail to Approve Tar Sands Oil Veto

An attempt by some European politicians to veto the import of tar sands oil failed on Wednesday after a European Parliament vote, giving a boost to Canada but dismaying green campaigners.

NY Extends Fracking Ban after Health Report

New York Environmental Commissioner Joseph Martens said Wednesday he will issue an order early next year banning fracking in New York "at this time", extending

Snam Sets Terms of Reserved Cash Call to Buy TAG Gas Pipeline

Italian gas grid operator Snam said its board had approved the conditions of a reserved capital increase of 502 million euros to buy the Trans Austria Gasleitung

Poland, Ukraine to Look at Expanding Gas Transport Links

Polish and Ukrainian state gas pipeline operators signed an agreement on Wednesday to look into expanding their capacity to transport gas between the two countries,

New Gas Plant Could Save Ghana $300m on Fuel Costs

Ghana has begun processing gas from its offshore Jubilee oil field through a pipeline project that could save the government $300 million a year on fuel costs even

Linde, Sandia Look to Expand Hydrogen Fueling Network

Sandia National Laboratories and Linde LLC have signed an umbrella Cooperative Research & Development Agreement (CRADA) that is expected to accelerate the development

Rig Moves: Mobilized for Performance

The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders.

FPSO Trio Receives Side Shell Protection

SPS Overlay has yet again been used for side impact protection on three FPSOs for a major player in the offshore industry. The work was carried out at Enseada do Paraguaçu S.

Petroci, Vioco Petroleum to Invest $255m in Offshore Field

Ivory Coast's state oil company Petroci and Vioco Petroleum will invest $255 million to bring into production the Gazelle oil and natural gas field on the West African nation's CI-202 offshore block,

U.S. Crude Inventories Fall in Week

U.S. crude stocks fell less than expected last week, while gasoline stocks increased and distillate inventories declined, data from the Energy Information Administration showed on Wednesday.

Teck Ships 1st Zinc From Washington Mine After Restart

Canadian miner Teck Resources Ltd. said on Wednesday it has shipped its first zinc concentrate from the Pend Oreille mine in Washington state following the restart

Bosnia to Expand Coal-Fired Plant with China Exim Bank Loan

Bosnia will expand a coal-fired power plant with a loan of 668 million euros ($833 million) arranged with the Export-Import (Exim) Bank of China on Wednesday, local media reported.

Exports Firm Slovakian Spot, Wind Weighs on Rest of the Region

Spot power in the Czech Republic, Hungary and Romania fell on Wednesday on forecasts for more wind power supply and warmer weather in the region, while higher power

Slumping Oil Won't Derail $500 bln Gulf Infrastructure Plan

Slumping oil prices will not halt a massive ramp-up in Gulf infrastructure spending, as rich nations deploy huge reserves to maintain a breakneck development pace

World Market Shockwaves From Oil Price Epicentre

The financial turmoil engulfing Russia is a symptom of a wider world markets quake that has its epicentre in oil's collapse and Western disinflation but is now

INTERTANKO Launches ECA Bunker Surcharge Clauses

INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA).   Rising bunker prices due to rising oil prices and

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