Archives for April 2017
Shale investments have surged by $100 billion, Rystad says
Ever since OPEC began cutting oil production, drilling in the United States has surged. Norwegian consultancy Rystad Energy estimates $100 billion in investment funds has flowed into the U.S. shale industry over the past year,...
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Oil discoveries dropped to record low in 2016, IEA says
The oil industry only found 2.4 billion barrels of oil last year, the smallest annual figure ever recorded, the International Energy Agency said Thursday. The Paris-based group, which advises oil-importing countries, said last year’s small...
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Houston CEO to lead global integration of Wood Group and Amec Foster Wheeler
Houston executive Michele McNichol is taking over the global integration for the merger of two United Kingdom-based energy engineering giants. The Wood Group is planning to buy financially struggling Amec Foster Wheeler, both of which...
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Oklahoma task force seeks to reduce earthquakes and reuse wastewater
As a part of a state initiative to address a future water shortage, the Oklahoma Water Resources Board released a report on Thursday offering solutions to Oklahoma’s newfound earthquake problem: instead of injecting wastewater from...
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BP finds hidden trove of oil in Gulf of Mexico via new subsea imaging
British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see beneath geological formations that had...
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