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Welcome to oil-gas-news.com

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The latest petroleum news around the world, hot topics, new technologies, post or request oil jobs, post or request oil projects, oil field trading, oil equipment trading ......

Mission Statement
oil-gas-news.com is designed to be interactive center for current information regarding the peak in global energy supply, new E&P technology, business opportunity. We will publish news and research concerning: The current situation, such as Innovations or partial solutions to this crisis, new technology, Joint Venture Project, new idea, oil & gas production data, economic or societal clues to decline profiles, and relevant institutional pronouncements. Any other issues which assist our understanding of the broader implications of the oil peak.

We welcome original content, and we invite industry insiders and independent researchers to submit their insights and findings relevant to these issues.

How it works
Users of the site contribute articles through the article submission form. Our editors will approved these stories for publication.

We welcome constructive criticism at all times, and invite all readers to leave comments on the articles and also to send feedback by email help@oil-gas-news.com.

Created on 02/04/2003 10:24 AM by admin
Updated on 11/13/2006 02:42 PM by admin
 Printable Version

Today Oil & Gas News

Monday, August 31, 2015

Industry Headlines

Saudi Stocks Cap Worst Month in Seven Years as Oil Resumes Slide
Saudi Arabian stocks fall in the worst month in almost seven years after Brent crude resumes its decline.

Pemex Investors Face Crude Reality With Credit Downgrade Threat
A year after Mexico gives oil giant Pemex financial independence to compete with global peers, things aren’t looking good for the state-owned driller.

Car Bomb Damages Italy's ENI Joint Venture in Libyan Capital
A car bomb goes off in Libya's capital Tripoli in front of the headquarters of Mellitah, an oil and gas JV between Italy's ENI and Libyan state oil firm NOC.

Global Stocks Head for Worst Month Since 2012 on China Woes
Global stocks poise for the worst month in more than three years on fresh concern China’s efforts to prop up its markets will fail.

API Calls Ozone Rule Review Rushed, Potentially Costly
API says that the Obama administration’s truncated review of EPA’s proposed ozone standards could be costly, calling for Obama to let the existing standard work.

Egypt's Zohr Gas Re-Writes Israel's Happy Ending
Egypt's historic gas discovery threatens to sink Israel's fledgling gas export bonanza, which was counting on deals with Cairo to get it off the ground.

EIA: New U.S. Oil Data Shows Lower 2015 Production
The U.S. oil industry pumped less crude than initially estimated this year, according to new government data that offers the clearest look yet at the impact of drillers' retrenchment in response to collapsing prices.

Canada's Alberta Forecasts Record Budget Deficit
The Canadian province of Alberta, which has been hammered by falling crude prices, is forecasting a record budget deficit of C$5.9 billion ($4.49 billion) this year, which could increase to C$6.5 billion, Finance Minister Joe Ceci says.

Brazil And Mexico Vie for Cash From Oil Explorers in Price Rout
Brazil and Mexico are preparing to compete for investments from some of the same oil majors when they hold auctions that are only a week apart at a time the price rout is prompting spending cuts.

Oil Caps Biggest Three-Day Gain Since 1990 as OPEC Ready to Talk
Oil caps the biggest three-day gain in 25 years after OPEC says it’s ready to talk to other global producers to achieve ‘fair prices’ and the U.S. government reduced its crude output estimates.






Announcements

well log digitization, well log digitizing

Posted by: anonymous on 11/14/2009 11:00 AM (Read: 10698)
Well log digitizing Well log digitization - Logdigi,LLC provides the lowest price well log digitizing, well log digitization service, the highest quality, and the fastest well log digitizing service. Logdigi's automated well log digitizing system is a new strong Competitor of other companies - Well Log Digitizing system. Logidigi's well log digitizing fee is much cheaper than other digitization company. *Well Log Digitization price: average US$19/well *Convert(digitized)paper log to digital log within 2 hours, faster than *ohter well log Digitizer *Accommodate order large and small, rush or long term *Guarantee high quality Service, 100% customer satisfaction *Use automated digitizing software to digitize, automated tracing well log *Quality Control: digitization software has an efficient "Automatic Match Function" *Deliver well-logging data in standard LAS format. LOGDIGI international log experience includes complex and problematic logs from P.R. China (36 oil fields), Russia, Latin America, Europe, the Middle East, and Africa.
Read More

GCAGS/GCPE Convention

Posted by: admin on 09/08/2006 07:44 AM
The Gulf Coast Association of Geological Societies is combining with the Gulf Coast Prospect Expo for one great event scheduled for September 25-27, 2006 in Lafayette, Louisiana. Go to www.gcags2006.com for up-to-date convention details along with on-line registration.


This event repeats daily until 09/27/2006

Also on this Site...

A New Approach to Drilling Directional Wells with Coile
Last updated by admin on 03/24/2013 04:50 PM (Read: 36371 times)

by Matt Varhaug, Oilfield Review editor
Tue, Mar 20, 2007 23:57 GMT

THE WOODLANDS, Texas - Field testing is opening the way for coiled tubing in directional wells drilled in the San Juan Basin of Colorado and New Mexico, USA.

Speaking here at the Intervention & Coiled Tubing Association's (ICoTA) 2007 Coiled Tubing and Well Intervention conference and exhibition, Tony Pink, Drilling Engineering Manager with Schlumberger, described how the San Juan Coiled Tubing Project was launched by BP America to evaluate directional drilling systems used in coiled tubing applications.

[Read More] 497 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Realtimenews@AAPG: Innovative Techniques Minimize Inter
Last updated by admin on 11/09/2007 12:00 AM (Read: 41320 times)

by Gretchen Gillis
Thu, Nov 9, 2006 01:29 GMT

PERTH, Australia ?Making good reservoir predictions is a crucial endeavor for petroleum geologists, as evidenced by numerous presentations given here at the AAPG International Conference and Exhibition.

Geological interpretations of outcrops, wells, or other data types depend heavily on the skill of the interpreter, and typically are strengthened by the interpreter抯 experience. The oil and gas industry is hiring new geological interpreters at breakneck speed, and often these interpreters collaborate on large projects, so consistency of interpretive approach is desirable.

[Read More] 479 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Web Delivers Timely Petrotechnical Reference Data
Last updated by admin on 04/04/2007 07:40 AM (Read: 38078 times)

by Gretchen Gillis
Tue, Apr 3, 2007 19:39 GMT

LONG BEACH, California – The drilling, logging and other oilfield equipment of today bears a resemblance to its earliest predecessors. But the volume of data acquired when drilling a well has grown substantially over the years. This volume might leave scientists and engineers wondering what data they have acquired unless they have a photographic memory: the number of well-log curves and parameters exceeds 50,000 and grows by approximately 1,000 curves yearly.

A real-time delivery mechanism improves the acquisition, processing and interpretation workflows by supplying log-curve descriptions and other information via the Web.

[Read More] 252 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


DOGGR: Drilling Through Time
Last updated by admin on 03/24/2007 11:37 PM (Read: 35388 times)

Before Europeans discovered California, Native Americans had discovered uses for petroleum. Asphaltum from oil seeps helped keep arrowheads on their shafts and made baskets watertight.

The Division of Oil, Gas, and Geothermal Resources -- originally known as the Department of Petroleum and Gas -- never regulated the making of arrows or baskets. Its work began in 1915, at a time when the oil and gas industry was a booming free-for-all in need of a referee. Through the 20th Century and into today, DOGGR has helped the oil, gas and geothermal (a relative newcomer) industries maintain productivity while becoming more efficient, diversified and environmentally conscious.

[Read More] 1117 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Fullbore Formation MicroImager
Last updated by Schlumberger on 09/30/2006 01:57 PM (Read: 35615 times)

Borehole geology, geomechanics and 3D reservoir modeling

Determine net pay
The FMI Fullbore Formation MicroImager gives you microresistivity formation images in water-base mud. This is the preferred approach for determining net pay in laminated sediments of fluvial and turbidite depositional environments.

Visualize sedimentary features
These features define important reservoir geometries and petrophysical reservoir parameters. The interpretation of image-derived sedimentary dip data lets you understand sedimentary structures.

Interpret seismic sections
Well-to-well correlation is difficult in deviated wells with sections of steep and varying structural dip. Greatly improve structural interpretation of seismic sections with high-quality bedding dips to compute accurate logs of true stratigraphic thickness.

Get more data
Geological information from FMI borehole images helps with stochastic modeling of the sand-shale distribution. FMI images define channel heights superbly in amalgamated units. Other variables, such as the channel width and channel sinuosity, can be estimated using geological analogs, based on detailed sedimentological analysis of FMI image data.

Improve well construction plans
Borehole images improve your mechanical earth models which, in turn, help you optimize well plans. Better understanding of borehole stability can save you millions of dollars during field development.

[Read More] 418 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Better Turns for Rotary Steerable Drilling
Last updated by lai_wmn on 08/20/2006 02:03 PM (Read: 34150 times)

Farther, faster, cheaper, safer. These words describe the drilling results of the newest rotary steerable systems. Substantial advances in the reliability and steerability of rotary steerable drilling systems allow engineers to plan and drill complicated well trajectories in extremely demanding environments. Better still, oil and gas companies save rig time while doing so.

[Read More] 264 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


WHY INVEST IN OIL AND GAS NOW?
Last updated by admin on 08/16/2006 08:35 AM (Read: 42809 times)

[Read More] 579 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Stratigraphic Column
Last updated by admin on 07/27/2006 08:59 AM (Read: 36951 times)

A stratigraphic column is a drawing done by a geologist that describes what rocks in a cliff wall or underground look like. This allows other geologists, who have never seen these rocks in person, to understand the geology of that area, and perhaps even decide whether or not there is the potential for oil or natural gas to exist in these rocks.

[Read More] 268 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


DOE-backed Consortium Delivers 6 New 'Stripper Well' Te
Last updated by admin on 06/27/2006 03:04 PM (Read: 34652 times)

Joint ventures in technology development by government and industry delivered six new deployment-ready applications in four years to extend the useful life of more than 650,000 stripper wells that deliver almost 15% of America's domestic oil production and almost 8% of natural gas production, according to the U.S. Department of Energy (DOE).

[Read More] 978 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


What is the Role of Technology in Oil & Gas Production?
Last updated by admin on 06/22/2006 07:37 AM (Read: 40524 times)

When many people think of the oil and natural gas industry, they think of an old, dirty, staid industry using technology from decades ago. The images they see on television or in the movies show oil gushing madly out of wellbore or a mechanical drilling rig with three men in dirty clothes throwing a chain around drill pipe. Most people do not realize how out-dated these images are. Oil and gas is a very technology-oriented industry; many techniques developed by the industry are now used in other industries, including the space program. Technological innovations have made it possible for the oil and gas industry to supply the fuels that power the world economy.

[Read More] 1047 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail



Latest Oil & Gas News

Tuesday, September 1, 2015

Latest Oil & Gas News

Trinity to Sell GU-1 Block for $2.8M
Trinity agrees to sell its 100 percent interest in the onshore Guapo-1 (GU-1) block to New Horizon Exploration Trinidad and Tobago Unlimited for $2.8 million.

Russia Says Oil Output Could Decline if Prices Stay Low
Russia will not deliberately cut oil production to prop up prices but its output may decline if prices remain low, according to Deputy Prime Minister Arkady Dvorkovich.

Penn West Petroleum Lowers Capex, Suspends Dividend, to Cut Jobs
Penn West Petroleum has cut its 2015 capital budget for the third time this year, suspended its dividend and said it would lay off about 35% of its workforce as it copes with the slump in crude oil prices.

Aker Solutions to Slash up to 500 More Jobs
Aker Solutions will be further reducing its Norwegian subsea workforce due to a "continued market slowdown".

Russia's Rosneft Says Can Weather Oil at $40 per Barrel
Rosneft is resilient and expects no big changes to planning even with the price of oil languishing at $40 per barrel, according to a company official.






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