Entries by admin

Big Oil’s $45 Billion of New Projects Signal Spending Revival

Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead. Chevron Corp. gave the go-ahead to a $37 billion expansion in Kazakhstan, the industry’s biggest undertaking since crude […]

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BEST PRACTICES IN INSURANCE SHAPE THE NEW OIL INDUSTRY / INTERVIEW IN MEXICO OIL & GAS REVIEW 2016

GRACIELA ÁLVAREZ HOTH CEO of NRGI Broker The country is developing in a new direction, so it only makes sense for companies to align themselves with this new phase. This was exactly the motivation behind Grupo Vitesse’s decision to create a specialized Energy Insurance Broker “NRGI Broker.” With over 25 years of acquired experience from PEMEX’s marine operations, the company has now chosen […]

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Oil Bulls Face Specter of Market Turmoil on Brexit Aftershocks

Oil bulls could end up road kill following the Brexit ballot. Crude tumbled as much as 6.8 percent June 24 after U.K. voters decided to leave the European Union. While some analysts said supply and demand still favor rising prices, Britain’s exit means there’ll be a period of uncertainty over Europe’s future, casting a shadow […]

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Russia’s giant Vankor oilfield reaches peak production level: ONGC

Russia’s giant Vankor oilfield, where Indian state oil firms are acquiring a significant stake, has reached peak production level, but technology to increase oil recovery will optimise the output and delay its decline, the head of ONGC’s overseas arm said.  Indian state firms hope to get 10.5 million tonne of crude oil from Vankor once […]

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Guidelines for Drilling Wells for the Exploration and Production of Hydrocarbons in Mexico

The National Hydrocarbons Commission (“CNH”) submitted a draft of the Guidelines for Drilling Wells for Exploration and Production of Hydrocarbons (“Lineamientos de Perforación de Pozos para las Actividades de Exploración y Extracción”; the “Guidelines”) to the Federal Commission for Regulatory Improvement (“COFEMER”). The Guidelines regulate well permitting, design, construction, integrity, maintenance, and abandonment standards and […]

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Raymond James: Get Ready for $80 Oil

Rebounding after a two-year collapse, it’s only this month that oil prices have pushed up past $50 a barrel, but Raymond James & Associates says this is just the beginning for higher prices. In a note to clients, analysts led by J. Marshall Adkins say West Texas Intermediate will average $80 per barrel by the end of next year — that’s higher […]

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Mexico Plans Next Bidding Round For Energy Opening By End-July

The next bidding round in the opening of Mexico’s oil and gas sector will be called by the end of July and consist of 15 shallow water blocks for exploration and extraction in the Gulf of Mexico, Energy Minister Pedro Joaquin Coldwell said. Coldwell announced the round, denominated 2.1, at an event in the northern […]

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Mexico’s Pemex Approves Trion Field as First Farm Out

Mexican state oil company Pemex has picked the deep-water Trion field near the U.S. border as the first one it will farm out to other operators to help it develop untapped resources, the firm said on Friday. The search for private capital to boost areas previously discovered by Pemex is a major step in the […]

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Oil demand to peak in 2030 as energy experts slash forecasts

Global  oil demand could  peak by the end of the next decade  even as global economic growth climbs. The latest downward revision to forecasts, from consulting firm McKinsey, could  leave major new investments uneconomic if demand for energy fails to meet expectations. McKinsey said it has cut its forecast for growth in demand  to 0.8pc […]

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What Works for Wind Power Could Also Work Under the Sea

Jim Dehlsen, a 79-year-old wind-energy pioneer who sold one turbine company to Enron and took another public, has spent his life thinking about the best way to make blades turn in the sky. For his latest effort, he’s flipping a turbine upside down and plunging it dozens of meters into the ocean, in waters that are up […]

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