shale | Egypt Oil & Gas
ConocoPhillips in Negotiations to Make Bold Shale Move
US supermajor ConocoPhillips is in talks to acquire rival shale company, Concho Resources, in what represents a bold bet during a time when the industry is in a historically low period, according to Bloomberg. The co...
US Shale to Decline by 68,000 bbl/d in October
US oil output is predicted to fall in October by 68,000 barrels per day (bbl/d) after output is set to decrease from seven major shale formations, according to Reuters. The decline in output will take US production to...
Saudi Aramco’s Shale-Production Facilities Nearing Completion
Saudi Aramco will soon finish the shale-production facilities it is building in northern Saudi Arabia, industry sources told Zawya. The system is in its “final stages” and is nearing “mechanical completion,” according...
OPEC Loses $76b for US Shale
The Organization of the Petroleum Exporting Countries (OPEC) lost $76b in 2016 due to low oil prices caused by rising US oil production due to US fracking, according to a report published by the Energy Information Adm...
Oil Drops to $45 Despite OPEC Deal
Oil hovered around $46 per barrel in New York, back to levels last seen before the deal to cut production set by the Organization of Petroleum Exporting Countries (OPEC), as the shale revival appears to be making the ...
US Shale Oil Producers Restart Rigs
Rigs targeting crude in the US rose by 9 to 325 in the last week of May and demand come closer into balance, Baker Hughes said, Business Day reported. Explorers have idled more than 1,000 oil rigs since the start of ...
France Studying to Ban Imports of US Shale Gas
French Energy Minister, Segolene Royal, said she is investigating legal means to ban the import of shale gas from the United States because France has banned shale gas exploration using hydraulic fracking for environm...
BP, CNPC Ink Shale Gas Exploration Contract in China
The London-based explorer BP and China National Petroleum Corp. (CNPC) have signed a Production Sharing Contract (PSC) for shale gas exploration, development, and production in the Neijiang-Dazu block in the Sichuan B...
