The Top 10 Stories You Need To Know About Today In O&G #topstories

By 25th August 2015 Industry News No Comments

It is 8am in Houston, 2pm in London, 5pm in Dubai, and 9pm in Singapore. And here are the top O&G news stories for today, Tuesday, August 25, 2015.

Encana Leaves Haynesville Shale. The rationale for the $850mn sale is the company’s focus on growing its high margin production, as over 80% of its 2015 capital will be invested in the company’s four most strategic assets in the Permian, Eagle Ford, Duvernay and Montney. [Oilpro]

Oil Rebounds Slightly. Oil bounced back from heavy losses on Tuesday but global oversupply and worries over the severity of the economic slowdown in China, the world’s top commodity consumer, kept prices near 6-1/2-year lows. [Reuters]

2 Dead After Fire Breaks Out At Daewoo Shipyard. Two workers have died and seven have been injured after the outbreak of a fire on a very large gas carrier (VLGC) currently under construction at Daewoo Shipbuilding & Marine Engineering’s Okpo shipyard. [Oilpro]

Iran’s Oil Investments Shrink To ‘Almost Nothing.’ Iran, the world’s fifth largest crude producer, has set aside almost nothing for oil investments this year because of the drop in prices. [Bloomberg]

Gorgon Strike Threat. Over one thousand fly-in fly-out (FIFO) workers employed at Chevron’s giant Gorgon gas development in Australia, have voted in favor of a strike action over rosters, hoping to get more time with their families. [Oilpro, Offshore Energy Today]

Norway O&G Interest Wanes. Oil companies have cut their expectations for investments in Norway in recent months, fresh data showed on Tuesday, and economists said they are likely to continue scaling back ambitions as the price of crude continues to fall. [Reuters]

BHP Billiton Ahead Of Schedule. BHP said its productivity gains of $4.1 billion were two years ahead of schedule and it expects additional cost reductions in the 2016 financial year across all businesses. [BHP Billiton]

Iran Gets First Associated Gas Offer. A French firm has offered to purchase associated gas from an offshore Iranian oilfield in the Persian Gulf to convert it into LNG, Iranian Oil Minister, Bijan Zangeneh said. [Oilpro, Offshore Energy Today]

Shah Deniz Explosion. An explosion on a section of pipeline in Turkey carrying gas from the BP-led Shah Deniz project in Azerbaijan’s Caspian Sea has halted flows, according to a report. [Upstream Online]

Analysis: Can US Oil Production Really Fall? Kathryn Downey Miller with BTU Analytics writes, “If prices aren’t at levels that support new drilling, drilling should stop and US oil production should finally roll over, the way everyone in the industry (and OPEC!) hopes it will. Unfortunately, it’s not quite that simple.” [Oilpro]

Meet Medic & HSE Advisor, Tony Carlin, Today’s Human of O&G. He writes, “As a medic/HSE advisor, no two days are the same. From JSA in one role, then prepared to adapt into emergency medical role at the drop of a hat – ‘No rest for the wicked.'” [Oilpro]

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