Drilling Down On Venezuela Rig Dispute. There are still plenty of legal questions for U.S. Supreme Court justices in determining if Venezuela unlawfully seized 11 drilling rigs six years ago.
Oil Up Slightly. Crude prices saw a slight gain Thursday after Brent and WTI contracts hit five-week lows Wednesday following reports of growth in U.S. stockpiles of crude oil.
The Jetsons Might Not Save Us. The International Energy Agency’s executive director doubts that electric cars will cause us to reach a peak in oil demand in the short term, responding to rather bleak forecasts of their impact on fossil fuel industries.
Another Peak Prediction. Shell Oil’s chief financial officer throws his hat into the prediction ring and says he thinks demand for oil could peak in as little as five years.
Gazprom: “We’re fine at this level, thanks”. Members of the European Union might not like having a substantial amount of natural gas coming from Russia, but Gazprom officials say they’ll continue to remain a large competitive piece of the European market.
Marathon: Third quarter down, but rigs up? CEO Lee Tillman says his company will expand its rig count by 50 percent in the next quarter while remaining within an existing $1.3 billion capital program.
Projects Slowing In U.A.E. The U.A.E. is doing its best to avoid slowing massive numbers of projects, but between low oil prices and oil discoveries at the lowest since 1947, there is no cut-and-dry solution.
Bahrain Dreams Big With LNG Hub. The Bahrain LNG Import Terminal is hoping its $645 million project and development of a partnership in Russia will transform the region into a major gas hub.
Big Oil Descends On India. BP and Rosneft have got their sights on gaining a greater foothold in India’s fossil fuel market, alongside numerous other companies like Saudi Aramco and France’s Total SA.
Encana: Doing OK? The Canadian oil and natural gas producer posted a surprise profit in its latest earnings report.
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