Petroleum

Canadian oil and natural gas drilling is plummeting to the slowest pace in half a century, report the industry’s field contractors.

Consumption of petroleum products in the United States fell to 13.8 million b/d in the week ending April 10, according to the Energy Information Administration (EIA), the lowest level since at least the early 1990s, when the agency began publishing such data.

State-owned Qatar Petroleum said Wednesday that it has spud the first of 80 wells as part of its ambitious North Field East (NFE) Project aimed at significantly expanding its liquefied natural gas (LNG) output in the coming years.

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s Energy Information Administration (EIA) to publish data on oil storage capacity as a warning indicator of potential shut-in oil production.

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s Energy Information Administration (EIA) to publish data on oil storage capacity as a warning indicator of potential shut-in oil production.

The Occidental Petroleum Corp. (Oxy) board on Friday adopted a limited duration stockholders rights plan, known commonly as a “poison pill,” in an effort to dilute activist billionaire shareholder Carl Icahn’s growing stake in the Houston-based independent.

A subsidiary of Royal Dutch Shell plc has acquired a 50% operating stake in three ultra-deepwater natural gas blocks from Colombian national oil company Ecopetrol SA, the companies said Friday.

The ongoing transition to a low carbon energy economy is having an impact on the global natural gas sector as operators work on ways to compete with the rise in renewable energy.

Qatar’s state-owned producer, the largest natural gas exporter in the world, is aiming to remain on the leaderboard as it awards contracts to enhance production capacity by 2024 to 110 million metric tons/year (mmty) from 77 mmty.