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Heading into the home stretch before a highly anticipated OPEC meeting in Algiers next week, crude industry experts and non-OPEC members alike are opining on what may happen to crude production. Dave Pursell, managing director and head of macro research at Tudor, Pickering, Holt & Co. in Houston, told Rigzone the production freeze idea is […]
Social awareness for the damage caused to the environment has greatly increased, so have an Environmental Liability Insurance to back you against possible infringements by your company has become essential. Especially with the implementation of the Law on Environmental Responsibility, based on the principle “polluter pays”. Environmental Liability Insurance protects you against accidents causing pollution to […]
Oil prices are depressed, but Texas shale has never been more valuable. A recent spate of land deals in the sprawling Permian Basin illustrates a counter-intuitive trend: Real estate in the country’s most active oil field is even more expensive today than it was before commodity prices crashed. QEP Resources Inc. agreed to pay a […]
Robert Gordon University (RGU) in Aberdeen has been awarded funding to create a skills development framework for the oil and gas sector in Mexico. The framework will provide recommendations on how to address the potential skills gap in the Mexican oil and gas industry over the next 15 years, both at graduate and vocational level. […]
Decontrol wells is generated by an outbreak, which cannot be operated at will, and is classified as: Differential.- happens when formation pressure is greater than the hydrostatic pressure, invading the formation fluids down hole, lifting the column of fluid so that the ejected surface and surface equipment control is not closed . Induced.- is caused […]
The longer OPEC and other producers talk about a ceiling on crude output, the more doubts grow in the market. Money managers increased wagers on falling prices by the most in three months as a meeting between Russia and Saudi Arabia ended without specific measures to support prices. Producers have pledged to discuss action […]
Mexico’s government on Thursday set out plans for a bigger-than-anticipated cut in public spending in 2017, with struggling state oil company Pemex earmarked for a 100 billion peso ($5.36 billion) reduction in funding. New Finance Minister Jose Antonio Meade said the budget foresaw planned spending cuts of 239.7 billion pesos ($12.83 billion), targeting a primary […]
Iran’s Oil Minister Bijan Namdar Zanganeh will join an informal meeting of OPEC members next month in Algiers, a state news service reported, ending uncertainty about whether OPEC’s third-biggest producer would participate. Producers from the Organization of Petroleum Exporting Countries will meet on the sidelines of an energy policy group in the Algerian capital next […]
Mexico’s energy regulator said on Wednesday that 26 companies had qualified to participate in the country’s deep-water oil tender in December, the jewel in the crown of a landmark energy sector opening. Of the 26 companies that have qualified for the so-called Round 1.4 tender, 16 are operators, including state-owned oil giant Pemex, and 10 […]
Seadrill Limited has received a notice of termination from Pemex Exploracion y Servicios for the West Pegasus (UDW semisub) drilling contract, effective Aug. 16. Seadrill has disputed the grounds for termination and is reviewing its legal options. During the second quarter of 2015 Seadrill signed a provisional commitment for a two year extension to the […]
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