Drilling

Oil

UAE warns oil oversupply could hurt new projects, production

Source: 
Bloomberg

United Arab Emirates' Energy Minister Suhail Al Mazrouei expressed concern that a continued oversupply of oil in global markets would hurt new exploration and production, arguing the viability of some new projects are based on $100 a barrel oil, Bloomberg reports.

Oil

Groups sue to protect walrus from drilling

ANCHORAGE, Alaska (AP) — Six environmental groups sued Monday to throw out a federal agency rule that concludes oil exploration off Alaska's northwest coast has a negligible effect on walrus.

The groups claim the U.S. Fish and Wildlife Service has understated the effects of booming seismic airguns, ship traffic and other industrial activity as it promulgated a five-year walrus harassment rule.

Oil

Continental CEO to shell out $1B in divorce

Source: 
The Wall Street Journal

A judge in Oklahoma ordered Continental Resources CEO Harold Hamm to pay $1 billion to his wife to finish off divorce proceedings, a ruling that allows Hamm to maintain control of the company, The Wall Street Journal reports.

Oil

EIA to expand oil and gas output data collection

Source: 
FuelFix

After winning approval from the Office of Management and Budget, the Energy Information Administration will expand its sample for oil and gas drilling data by nearly double, with the new surveys slated to begin in January, FuelFix reports.

Oil

EIA: Oil price decline not yet taking toll on shale output

Source: 
Bloomberg

The Energy Information Administration reported in its monthly drilling report that falling oil prices has not caused a slowdown in shale drilling and activity is expected to increase next month, Bloomberg reports.

Oil

Five years after no-subsidy pledge, G20 spending $88B on fossil fuel development

Source: 
Bloomberg

According to data compiled by watchdogs, five years after pledging to phase out subsidies for fossil fuel industries, G20 nations have spent $88 billion a year on development; while that total comes mainly from state-run companies, it also includes tax breaks and subsidies, Bloomberg reports.

Oil

Judge refuses to fire Gulf oil spill claims chief

NEW ORLEANS (AP) — BP's call for the ouster of the administrator of damage settlement claims arising from the 2010 Gulf of Mexico oil spill was rejected Monday by a federal judge.

BP lawyers had said Patrick Juneau should be removed for a variety of reasons, among them that he had a conflict of interest because he once represented Louisiana in talks setting up the claims process and had pushed for favorable terms for those with claims. They also said he had made misleading statements about that work before being named claims administrator. And they said Juneau improperly expedited claims for some people represented by the plaintiffs' steering committee.

Oil

Total, BP say $80 oil not affecting exploration plans

Source: 
Bloomberg

Both BP and Total SA said falling oil prices aren't affecting plans for new exploration projects, saying their efforts can all move forward with prices at $80 a barrel, Bloomberg reports.

Oil

Eagle Ford production taking toll on road quality

Source: 
The Texas Tribune

The development of the Eagle Ford shale in Texas is creating plenty of economic benefit for the state, but the surge in truck traffic has done serious damage to roads, resulting in vehicle damage, traffic and accidents, The Texas Tribune reports.

Oil

Libya's largest field set to resume output today

Source: 
Bloomberg

An official from Libya's National Oil Corp. told Bloomberg that oil production is set to resume today at the Sharara oil field, the largest in the country, after militants returned stolen equipment.

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