Exxon Faces Fine for Russian Dealings Under Sanctions #OilmanNEWS 2017 September-October Upstream 

Exxon Faces Fine for Russian Dealings Under Sanctions

The U.S. Treasury Department has levied a $2 million fine against Exxon Mobil Corp. for violating U.S. sanctions which barred companies from dealing with Russia, Bloomberg reports. The sanctions were put into place when the present Secretary of State, Rex Tillerson, was the CEO at Exxon. Sanctions were enacted due to Russian infringing on Ukraine’s sovereignty by invading into part… Read More
IEA Data Shows Electricity Investment Outpaced O&G Investment in 2016 #OilmanNEWS 2017 September-October Upstream 

IEA Data Shows Electricity Investment Outpaced O&G Investment in 2016

The International Energy Agency (IEA) announced on July 12 that a significant shift in energy-investment patterns had occurred in 2016. According to the organization’s data, for the first time, electricity for the surpassed oil and gas in terms of total investment. The transfer of investment funds represents a continually unstable oil market which has been defined by an excess of… Read More
By Phil Graves #OilmanNEWS Shale Technology Upstream 

Clean Chemistry Issued New Patents for Water Treatment Technology

Clean Chemistry, a chemical technology company, received three patents from the US Patent and Trademark Office that cover formulae, synthesis methods and use of unique oxidant chemistries. Specifically, the patents for inventions numbered 9,551,076 , 9,517,955 and 9,517,956 cover the only known production processes for large scale quantities of reactive oxygen species (ROS) in easy-to-use, liquid formulations. “Reactive oxygen species… Read More
oilman magazine news #OilmanNEWS 2017-May-June Texas Upstream 

Weir Oil & Gas Acquires Pressure Control Provider KOP Surface Products

Weir Oil & Gas has entered into an agreement to acquire KOP Surface Products, a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry. KOP employs 450 people and is headquartered in Singapore, with a manufacturing facility in Batam, Indonesia, in addition to a network of sales and service offices in Malaysia, Thailand,… Read More
#OilmanNEWS 2017-May-June Upstream 

Exxon Mobil’s Ambiguous Relationship with Climate Change

Climate change has been quite the buzzword these past few weeks, with both political and industrial forces focusing on how they will deal with the economic and environmental issues that have been arising due to the effects of increased carbon dioxide in the atmosphere. Oil and gas firms, in particular, have for obvious reasons a variety of reactions to the… Read More
Oil Spill Response Ltd Signs A ‘Memorandum of Understanding’ With Trendsetter And Halliburton For Integrated Subsea Well-Capping Response Solutions #OilmanNEWS 2017-May-June Texas Upstream 

Oil Spill Response Ltd Signs A ‘Memorandum of Understanding’ With Trendsetter And Halliburton For Integrated Subsea Well-Capping Response Solutions

Oil Spill Response Ltd (OSRL), Trendsetter Engineering and Halliburton announced the companies have signed a Memorandum of Understanding (MoU) for integrated subsea well-capping response solutions. With the MOU, the companies will create a strategic alliance for oil and gas exploration and production companies globally, covering integrated solutions for preparedness and response associated with subsea well control activities. The new agreement… Read More
#OilmanNEWS 2017 July-August Upstream 

OPEC Meeting Raises Question of The Future of Energy

OPEC nation members and non-OPEC nations came together on May 25 to discuss the current economic environment for oil and what could be done to keep the global supply at a reasonable level. The groups considered multiple options to maintain a balanced supply level. However, they came to the conclusion that a nine-month extension of the production cuts, which had… Read More
#OilmanNEWS 2017 July-August Upstream 

Russian and Saudi Arabian Production Cuts Could Extend into 2018

On Monday, May 8th, both Saudi Arabia and Russia announced that they were contemplating a protracted production cut which could extend into 2018. The countries’ continuation of the production cuts is an attempt to equalize the balance between the demand and supply for oil, which was dramatically unbalanced by an increased supply of oil mainly due to higher OPEC production.… Read More
#OilmanNEWS 2017 July-August Upstream 

United States is Positioned to Become a Dominant Liquefied Natural Gas Exporter

Golden Pass Products LLC, has been authorized by the U.S. Department of Energy to export domestically produced liquefied natural gas to countries that do not have a free-trade agreement with the United States. The joint venture between Qatar Petroleum and ExxonMobil has been given the green light to export up to the equivalent of 2.21 billion cubic feet per day… Read More
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