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 Post subject: Rystad: Oil service market to remain depressed until 2025
PostPosted: Sun Apr 04, 2021 10:42 pm 
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It wont be until 202511 years after the persist peakthat global service market revenues again will make it back to the $920-billion mark seen in 2014, according to a recent report from Rystad Energy. This will be the longest slump faced by the oil field services industry since the 1980s, with about $2.3 trillion in revenues lost along the way, said Audun Martinsen, Rystad Energys head of oil field service research.



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 Post subject: MARKET WATCH: NYMEX oil prices enter July on a gaining strea
PostPosted: Mon Apr 05, 2021 5:33 am 
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MARKET OBSERVE: NYMEX oil prices enter July on a gaining streak

Light, sweet crude oil prices for August and September gained by
about $1/bbl on July 3 but trading was light on the US July 4 holiday.



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 Post subject: BOEM extends EIS comment period for proposed Beaufort Sea le
PostPosted: Tue Apr 06, 2021 1:09 pm 
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BOEM extends EIS comment period for proposed Beaufort Sea lease sale

The US Bureau of Ocean Energy Management has extended the public comment period for a proposed environmental impact statement (EIS) relating to a proposed 2019 Beaufort Sea oil and gas lease sale, the agencys Anchorage office said on Dec. 11.



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 Post subject: MARKET WATCH: Brent crude oil price approaches $60/bbl on re
PostPosted: Wed Apr 07, 2021 4:43 am 
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MARKET OBSERVE: Brent crude oil price approaches $60/bbl on referendum vote

Light, sweet crude oil for November and December deliveries gained
more than $1 to settle above $52/bbl on the New York market Sept. 25.
Brent contracts for November and December gained more than $2 in London
with the November contract closing above $59/bbl.



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 Post subject: API, other groups want new NAFTA to retain crucial ISDS prov
PostPosted: Thu Apr 08, 2021 12:19 am 
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API, other groups want new NAFTA to retain crucial ISDS provision

Leaders from the American Petroleum Institute and six trade
associations from other US industries strongly expressed a desire to see
the Investor-State Feud Settlement (ISDS) provision in the current
North American Free Trade Agreement retainedand possibly enhancedin
any successor.



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 Post subject: QP to buy equity in ExxonMobil affiliates in argie
PostPosted: Thu Apr 08, 2021 5:56 am 
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Qatar Petroleum has entered into an agreement with ExxonMobil Corp. to become a 30% equity holder in two ExxonMobil affiliates in argie that keep different interests in hydrocarbon licenses for seven blocks in the world-class Vaca Muerta play in argies onshore Neuquen basin.



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 Post subject: Federal pipeline decision-making gets mixed reviews at heari
PostPosted: Thu Apr 08, 2021 10:19 am 
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Federal pipeline decision-making gets mixed reviews at hearing

The federal oil and gas permitting processes for interstate pipelines
drew mixed reviews on May 3 as witnesses and members of the House Energy
and Commerce Committees Energy Subcommittee discussed whether they
need to be reformed or are operating as intended.



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 Post subject: DOI disputes report that next OCS leasing program has been s
PostPosted: Fri Apr 09, 2021 10:36 pm 
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DOI disputes report that next OCS leasing program has been sidelined

The US Department of the Interior disputed a Wall Street Journal report quoting Sec. David L. Bernhardt as saying development of the next US Outer Continental Shelf oil and gas leasing program has been delayed indefinitely because of a recent court decision in Alaska which blocks Arctic offshore drilling there.



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 Post subject: AWE reclassifies Ande Ande Lumut oil reserves
PostPosted: Sat Apr 10, 2021 3:34 am 
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AWE Ltd.,
Sydney, has reclassified its 50% share of the 2P oil reserves in the
Indonesian northwest Natuna Sea Ande Ande Lumut (AAL) development due to
project delays, lower oil prices, and the potential sale of operator
Santos Ltds 50% interest.



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 Post subject: EIA: US crude inventories fall 4.2 million bbl
PostPosted: Tue Apr 13, 2021 5:21 am 
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US commercial crude oil inventories dropped 4.2 million bbl during the week ended May 25 compared with the previous weeks total, according to data from the US Energy Information Administration. EIA released the Weekly Petroleum Status Report a day later than normal because of the Memorial Day holiday in the US. 



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