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News Topics: Govt & Regulatory

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Norway Delays Arctic-Focused Oil Licensing Round Until 2015
Friday, December 19, 2014 Norway's government delays the launch of its Arctic-focused oil and gas licensing round until next year, the oil ministry says.

In North Dakota, Countdown Looms For $5.3 Billion Oil Tax Break
Friday, December 19, 2014 Tumbling US oil markets hit an important if obscure milestone Thursday, closing for the first time at a price that could trigger a $5.3B, 2-year tax break for North Dakota oil drillers.

Independent Gets Cronx Extension
Thursday, December 18, 2014 Independent Oil & Gas reports that the UK government has extended the Cronx license by 12 months and that it expects to complete the acquisition of Cronx by June 30 next year.

Rose is Granted Utah Drilling Permit
Thursday, December 18, 2014 Rose Petroleum is granted a drilling permit by the State of Utah ahead of the start of operations at its Mancos Well in the Uinta Basin.

Court Reviewing Arrest Warrant Application for KOGAS CEO
Thursday, December 18, 2014 South Korean prosecutors say a court is reviewing an arrest warrant application for the chief executive of state-run Korea Gas Corporation, Jan Seok-hyo.



Legal Standing May Be Key To Nebraska Court's Keystone XL Case
Thursday, December 18, 2014 The controversial Keystone XL pipeline has a major hurdle to cross in the Nebraska State Supreme Court, which may rule as soon as Friday, and one aspect of the case there has been somewhat overlooked.

Ivory Coast Signs Deals with ExxonMobil for Two Oil Blocks
Wednesday, December 17, 2014 Ivory Coast signs production sharing agreements with Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea.

Kurdistan Says Nearing Economic Self-Sufficiency On Oil Boom
Wednesday, December 17, 2014 Kurdistan will see a steady rise in oil exports in the coming months, moving it closer to economic self-sufficiency.

New York Bans Fracking After Health Report
Wednesday, December 17, 2014 New York Governor Andrew Cuomo's administration says it will ban hydraulic fracturing in the state after a long-awaited report concluded that the gas-drilling method poses health risks.

Solo Oil Purchase of Tanzanian License Can Go Ahead
Wednesday, December 17, 2014 Tanzanian Ministry of Energy and Minerals confirms that Aminex can sell a 13-percent interest in the Kiliwani North Development Licence to Solo Oil.

Obama Withdraws Alaska's Bristol Bay From Drilling
Tuesday, December 16, 2014 President Barack Obama announced that he's removing more than 52,000 square miles of waters off Alaska's coast from consideration for oil and gas exploration or drilling.

Russia Energy Minister Says to Maintain 2014 Oil Output into 2015
Tuesday, December 16, 2014 Russia will maintain its 2014 oil output level into 2015, Russia's energy minister says.

Oil Pipeline To Top US Senate Agenda Next Year
Tuesday, December 16, 2014 The Senate's first act in January will be approval of the Keystone XL pipeline, Republican leader Mitch McConnell says.

US Jury Finds Apache Did Not Breach Contract With W&T Offshore
Monday, December 15, 2014 Apache was not in breach of contract in a lawsuit brought by W&T Offshore Inc in 2011, a federal jury found, according to a court filing.

OPEC Chief Defends Policy, Says Group to Try to Ride Out Price Fall
Sunday, December 14, 2014 OPEC says it can ride out a slump in oil prices and keep output unchanged, arguing market weakness did not reflect supply and demand fundamentals.

Gas2Grid Gets More Time for Malolos Oil Development in the Philippines
Friday, December 12, 2014 Gas2Grid discloses that the Philippine Department of Energy has granted a two year technical moratorium for Service Contract 44 in the Philippines.

Indonesia Energy Regulator Sees 2015 Upstream Spending At $22B
Friday, December 12, 2014 Indonesia expects spending in its upstream oil and gas sector to reach $22.2 billion in 2015, a senior official at the upstream regulator says, 13% less than the amount budgeted for this year.

Lower Oil Prices Prompt Norway Interest Rate Cut
Thursday, December 11, 2014 In a surprise move, Norway's central bank cuts its key lending rate as it frets over the impact of the sharp fall in oil prices on the country's economy.

Mexico Limits Shallow-Water Bids In Oil Sector Opening
Thursday, December 11, 2014 Mexico says it would cap the number of shallow water contracts companies can bid for as it outlined the tender for the first leg of the country's energy sector opening.

Oilex Gets State Approval to Convert WA's SPA 17 AO to Exploration Permit
Thursday, December 11, 2014 Oilex's application to convert SPA 17 AO in Western Australia to an exploration permit has been approved by the authorities.

Russia's Rosneft Secures Oil, Gas Deals With India
Thursday, December 11, 2014 Rosneft strikes oil and gas deals with India as it seeks to diversify its exports away from Europe.

Brazil Top Prosecutor Says Petrobras Management Should Go
Wednesday, December 10, 2014 Brazil's prosecutor-general Rodrigo Janot calls for the replacement of Petrobras' top management and punishment of everyone involved in a scheme to funnel kickbacks from contracts to politicians.

OPEC Cuts 2015 Demand For Its Oil, Says Low Prices May Slow Shale
Wednesday, December 10, 2014 Global demand for OPEC crude in 2015 will be less than expected and far below its current output, the organization says.

Iran Oil Minister Says No Oil-for-Goods Talks with Moscow
Wednesday, December 10, 2014 Iran's oil minister denies Tehran and Moscow are close to an agreement on an oil-for-goods swap.

First Mexican Shallow-Water Oil And Gas Contracts Seen By Mid-July
Wednesday, December 10, 2014 Mexico's initial shallow-water oil and gas contracts will offer companies a share of output with average production costs estimated at about $20 per barrel, the National Hydrocarbons Commission says.

Saudi Oil Minister Naimi: Why Should We Cut Production?
Wednesday, December 10, 2014 Saudi Oil Minister Ali al-Naimi shrugs off suggestions that the world's biggest crude exporter might cut production to reverse the deepest price slump in years.

Mosman Wins Three NZ Exploration Permits
Tuesday, December 09, 2014 Mosman Oil & Gas is awarded three additional permits in New Zealand's latest Block Offer.

Chevron, Statoil, ONGC Secure Exploration Permits in NZ's Block Offer 2014
Tuesday, December 09, 2014 New Zealand awards 15 exploration permits as part of Block Offer 2014 to nine companies, including Chevron, Statoil and ONGC Videsh.

Diplomat: Russia Still Sees Gas Pipeline Serving Southeast Europe
Tuesday, December 09, 2014 Russia has not given up on building a pipeline to supply gas to southeast Europe despite the collapse of the South Stream project, according to Russia's new ambassador to Hungary.

Study Finds Methane Emissions Lower than Previous Studies
Tuesday, December 09, 2014 The level of methane emissions generated by hydraulic fracturing and shale gas production in the United States have declined, according to a recent study.

US Government Cuts 2015 Domestic Oil Production Forecast
Tuesday, December 09, 2014 The US government cuts its forecast for domestic oil production growth in 2015 by about 100,000 barrels per day and trimmed its forecast for global oil demand growth next year by 240,000 bpd.

Badra Oilfield Now Exporting 15,000 Barrels per Day
Monday, December 08, 2014 Gazprom Neft says its Badra oilfield is exporting 15,000 barrels per day to Iraq's main pipeline system.

Noble In $12.2M Settlement With DOJ Over Alaska Drilling
Monday, December 08, 2014 Noble Corp. says it paid $12.2 million to settle felony charges by the US Department of Justice related to safety, environmental and record keeping violations on vessels in Arctic waters in 2012.

Ophir Energy Inks PSC for Block AD-03 in Myanmar's Rakhine Basin
Monday, December 08, 2014 Ophir Energy inks production sharing contract with the Myanmar Ministry of Energy for Block AD-03 in the Rakhine Basin offshore Myanmar.

US Supreme Court Rejects BP Challenge To Gulf Spill Settlement
Monday, December 08, 2014 The US Supreme Court rejects BP's challenge to its multibillion-dollar settlement agreement over the 2010 Gulf of Mexico oil spill.

UK Treasury Reveals More Details of Oil, Gas Fiscal Reform
Thursday, December 04, 2014 HM Treasury issues more details of plans to reform the UK's oil and gas tax regime.

Iraq Exports Boost to Add Pressure on 2015 Oil Market
Thursday, December 04, 2014 Iraq's plan for greater oil exports in 2015 will add to global oversupply and make it less likely OPEC members will curb their own supplies.

US Crude Oil, Natgas Reserves Both Rose Over 9% In 2013
Thursday, December 04, 2014 Proven crude oil and lease-condensate reserves in the US increased 9.3% to 36.5 billion barrels in 2013, up from 33.4 billion barrels in 2012, the US Energy Information Administration says.

Minister: India May Revise Oil Major ONGC's Subsidy Sharing Structure
Wednesday, December 03, 2014 India considers reworking the subsidy-sharing formula for Oil and Natural Gas Corporation in a bid to boost the state-run oil company's profits.

Minister: First Terms for Mexican Oil Tenders Due in Next Few Days
Wednesday, December 03, 2014 Initial terms and conditions for oil field tenders forming a central plank of Mexico's efforts to attract investment into the sector will be announced in the next few days, the energy ministry says.

North Dakota Governor's Budget Bets On Oil Price Rebound
Wednesday, December 03, 2014 North Dakota Governor Jack Dalrymple proposes a 2-year state budget that forecasts rebounding oil prices and a 23% jump in oil taxes, a tacit bet the state's energy boom will continue unabated.

DNO Confirms Payment from Kurdistan for Oil Exports
Wednesday, December 03, 2014 Norway's DNO confirms that it has received a share of $30 million as a first payment for oil exported by the Kurdistan Region Government.

Oil Basins to Get 2% Royalty for Hydrocarbons Produced in Permit Vic/P47
Wednesday, December 03, 2014 Oil Basins receives government approval to attain 2 percent royalty on hydrocarbons produced in offshore permit Vic/P47 in the Gippsland Basin, Australia.

US Appoints Top Diplomat For Energy Issues
Wednesday, December 03, 2014 The US appoints Amos Hochstein as the top diplomat for energy affairs as the Obama admin. tests using the power of the domestic energy boom to shape policy with foreign energy producers and consumers.

UK Chancellor Announces More Tax Breaks for Oil, Gas Industry
Wednesday, December 03, 2014 UK Chancellor of the Exchequer George Osborne announces further tax breaks for the offshore oil and gas industry in his Autumn Statement.

Fed Says US Economy Expanding, Shale Production Steady
Wednesday, December 03, 2014 US economic activity continues to expand in October and November, with lower gasoline prices boosting consumer spending, the Federal Reserve says.

Austria Thinks South Stream Dead, Wants Clarity
Tuesday, December 02, 2014 Austria's economy minister tells reporters that the country believes the Russian South Stream gas pipeline project is dead.

Gabon's Oil Workers Start Strike, Petrol Queues Appear
Tuesday, December 02, 2014 Gabon's oil workers begin an open-ended, industry-wide strike after talks with the country's government collapse.

Iraqi Government Reaches Deal With Kurds On Oil, Budget
Tuesday, December 02, 2014 Iraq's government reach a temporary agreement with Kurdish regional authorities to end a dispute over oil exports and budget payments to the semi-autonomous Kurdish region.

Putin Drops South Stream Gas Pipeline to EU, Courts Turkey
Monday, December 01, 2014 Russia scraps the South Stream pipeline project to supply gas to southern Europe without crossing Ukraine, citing EU objections, and instead named Turkey as its preferred partner for an alternative pipeline.

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