03-18-2016, 10:43 PM
A revised production schedule for Gazprom Neft’s Prirazlomnoye field, recently approved by Russia’s Federal Subsoil Resources Management Agency, has seen the field’s peak production period increased from three years to five. Sustainable drilling over this period means oil production will be increased by a factor of 1.8, to 23.1 million tonnes.
Oil production from Russian Arctic field set for significant rise, Gazprom Neft says
U.S. regulators rejected Veresen Inc.’s multibillion-dollar proposal to build a terminal in Oregon that would export as many as two tankers of natural gas a week. They also denied its plan to a build a pipeline with Williams Partners LP to supply gas to the terminal. Williams and Veresen failed to demonstrate that the pipeline’s benefits would outweigh the “adverse effects on landowners,” the Federal Energy Regulatory Commission said Friday in an order denying authorization. And without a pipeline supplying gas, the Jordan Cove export terminal “can provide no benefit to the public to counterbalance” the impacts associated with its construction, the agency said.
U.S. regulators reject Oregon LNG export project - Fuel Fix
Total SA has funds to build a pipeline linking oil fields in landlocked Uganda with a port on Tanzania’s Indian Ocean coast, the Tanzanian government said, after its president met with an official from the French company. Total’s Vice President for East Africa, Javier Rielo, “assured President John Magufuli that the company will begin construction of the crude-oil pipeline project from Uganda to the Tanga port as quickly as possible because there is money for the project,” the presidency said Monday in an e-mailed statement. A Total spokesman declined to comment on today’s meeting. He referred to a December statement in which France’s oil major expressed its preference for a pipeline transporting crude through Tanzania, based on cost, reliability and safety assumptions for the infrastructure.
Total to Begin Ugandan Pipeline Construction Soon, Tanzania Says - Bloomberg Business
The top of the oil market may be closer than you think. With Brent futures having bounced back to $40/bbl, the International Energy Agency sees “light at the end of the tunnel,” and Goldman Sachs Group Inc. is spotting “green shoots.” Even so, many analysts warn that, like the failed rally last year, this recovery will sputter once prices go high enough to keep U.S. crude flowing. “If prices keep going up, U.S. production from shale producers is extremely responsive,” Jamie Webster, V.P. of crude markets at IHS Energy, said in a Bloomberg Television interview. “Falling U.S. production is the key dynamic you need to get supply to equal demand, and that might not actually happen,” meaning prices could fall again.
If oil prices have hit bottom, the top may not be too far away