Nearly half, about 46%, of the 813 senior oil and gas professionals who participated in a recent survey said they believe there has not been enough investment in inspection and maintenance of infrastructure and equipment in recent years, Oslo-based DNV GL reported on May 1.
North Sea oilfields connected to the Brent oil pipeline have stopped production due to a shutdown at the UK’s Sullom Voe oil terminal.
Dario Scaffardi has been named chief executive officer of Italian refiner Saras SPA, Sarroch. He has been general manager.
Energy Transfer Partners LP, Dallas, has received approval from the US Federal Energy Regulatory Commission for Rover Pipeline LLC to place additional Phase 2 facilities into service. Construction of the entire project is expected to be completed later this quarter.
Apache reports a 32% fall in first-quarter profit as the oil and gas producer failed to benefit from higher crude oil prices due to lower production.
Perth-based Tap Oil Ltd., has received an unconditional on-market takeover offer from Risco Energy Investments (SEA) Ltd., Singapore, valuing Tap at $29.8 million (Aus.).
In the week that the ExxonMobil Corp. joint venture’s PNG-LNG project in Papua New Guinea has restarted production from LNG Train 2 and resumed LNG exports after the disruption of the February earthquake, a damning report has emerged saying that the benefits predicted to flow to Papua New Guinea from the overall project have not been realized.
US crude oil stocks rose sharply last week, bringing overall supply to its highest level since December.
Mike Sommers, who was chief of staff for US House Speaker John A. Boehner (R-Ohio) and had other House leadership roles for more than a decade before becoming president of the American Investment Council in 2016, was elected president of the American Petroleum Institute on May 2.
Oil prices strengthens slightly ahead of the settlement Wednesday.