Despite record daily production levels, overall oil and natural gas production in North Dakota leveled off in June compared with May, the state Department of Mineral Resources said Thursday.
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Gazprom Evaluating Shale Oil in Western Siberia
Gazprom Neft has approved the continued study of shale oil reserves at the Bazheno-Abalaksky complex of the Palyanovskaya zone at the Krasnoleninskoye field in western Siberia, which is being developed by Gazpromneft-Khantos.
NatGas Growth by Petchems, Transport Pressuring U.S. Oil Demand
U.S. growth in natural gas for transportation and the switch to natural gas from oil-based fuels by petrochemical companies are two big reasons that domestic oil demand isn’t growing, according to an analyst with Raymond James & Associates Inc.
EIA Says China Becoming World’s Largest Net Oil Importer
The U.S. Energy Information Administration (EIA) said China is projected to pass the United States and become the world’s largest net importer of oil — on a monthly basis by October, and on an annual basis by 2014.
Oil and Gas Industry Employment Grew 40% Over Six Years
In the six years spanning 2007 through 2012, total U.S. private sector employment increased by more than one million jobs, or about 1%. However, over the same period, the oil and gas industry — segmented into drilling, extraction and support segments — increased by more than 162,000 jobs, which equates to a 40% increase,” according to a new study from the U.S. Labor Department’s Bureau of Labor Statistics (BLS).
Foreign Interest in U.S. Oil, NatGas Assets Vanished in 2Q
U.S. oil and natural gas mergers and acquisition activity (M&A) plunged in the second quarter from the first three months of 2012, with divestitures driving activity, according to PwC US.
TransCanada Tries to Calm Fears Over Mainline Oil Conversion
TransCanada Corp. moved Thursday to calm a hornets’ nest of protest among its natural gas customers in Ontario, Quebec and the northeastern United States by making a formal promise to maintain service continuity.