News

India approves $774M support for northeast gas pipeline

  • 4 days ago
  • News

India has approved $774 million in federal support for a natural gas pipeline in the country’s northeast, oil minister Dharmendra Pradhan announced. The 1,656 km (1,029 mile) long pipeline is part of India’s national gas grid and is expected to be completed in 2023. The gas grid will link the states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.  Pradhan stated that the project will cost as much as 92.65 billion rupees (approximate $1....

Read More

  • Share:

U.S. oilfield firm shuts doors 3 years after $1B Venezuela deal

  • 4 days ago
  • News

An oilfield company involved in Venezuela’s attempt to convince the world it could boost output at its dilapidated oilfield has closed its doors, according to inside sources.  Oklahoma-based Horizontal Well Drillers, won a $1.29 billion contract in 2016 to drill 191 wells in Venezuela's Orinoco Belt as part of an unconventional plan to boost output and combat the country’s economic collapse. Horizontal, along with two other drilling contractors, were asked to finance the work t...

Read More

  • Share:

Canadian Crude Weakness Returns as Grim Milestone Nears

  • 6 days ago
  • News

This past Friday Western Canadian Select’s discount to West Texas Intermediate (WTI) reached $24.05 a barrel - the biggest gap since Nov 30th 2018 threatening even more adversity for an already beaten down industry. This differential represents the biggest spread since November of 2018 which is when Alberta announced that it would order producers to cut about 8.7% of the province’s daily production to help eliminate a glut of crude that had been hampering our prices. These most rec...

Read More

  • Share:

Hundreds laid off as Apache Corp announces San Antonio office closure

  • 1 week ago
  • News

Hundreds laid off as Apache Corp. announces San Antonio office closure. American oil and gas producer Apache Corp will be closing its San Antonio office, resulting in the layoff of 272 employees. Layoffs will be implemented on March 6, 2020 and impacted employees will not have bumping rights. A company spokesperson stated that some of Apache’s San Antonio-based employees will transition to other locations such as Houston and field offices. Last month the Houston-based oil company confi...

Read More

  • Share:

Oil Prices Soar As Iran Fires Missiles At U.S. Base

  • 1 week ago
  • News

Iran has claimed to have fired several ground to ground rockets at the Ain al-Assad military base in Iraq in what appears to be it's first retaliation strike. News agency Reuters cite a U.S. official that confirms the strike. However, they also say that there is currently no information on casualties or damage. Additionally, a military base in Erbil, in the Kurdish part of Iraq has also been struck by ballistic missiles according to additional reports. A tweet by President Trump suggests that...

Read More

  • Share: