Frac companies get fresh hope UK government will loosen rules
A change of British government has given the much-maligned fracing industry another opportunity to make out its case for stimulating the controversial technique to tap unconventional natural gas reserves.
...GulfDrill JV inks $656 million jackup contract with Qatar Petroleum
Seadrill and Gulf Drilling International have entered into a 50:50 joint venture, GulfDrill, which will initially manage and operate five premium jackups in Qatar with Qatar Petroleum commencing throughout 2020.
...API: Total U.S. petroleum demand in July highest since 2005
Total U.S. petroleum demand averaged 20.8 MMbpd in July 2019, which represented a 0.9% year-over-year increase and the highest demand for the month since 2005, per the American Petroleum Institute.
...China’s biggest energy company shuns Venezuela oil on tighter U.S. sanctions
China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation.
...OPEC sees ‘somewhat bearish’ oil outlook even as market tightens
Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though supplies will be tighter than previously thought, OPEC said.
...Norway’s offshore production beats July forecast, still down for the year
The Norwegian Petroleum Directorate’s preliminary production figures for July 2019 show an average daily production of 1,799,000 bbl oil, NGL and condensate, which is an increase of 402,000 bpd compared to June.
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