Energy Central
FEBRUARY 18, 2022
The price of West Texas Intermediate (WTI) opened 2022 at about $75 a barrel (bbl). Last week, the price rose above $90/bbl for the first time since 2014. To recap, in the first half of 2014, oil prices spent most of the time bouncing between $100/bbl and $105/bbl. That was also the last year the price of WTI was above $100/bbl.
Energy Central
JUNE 18, 2024
oil production by about 9 million barrels per day. By late 2014, as U.S. At its November 2014. Since 2008, the shale boom has grown U.S. In the early days of the shale boom, when it wasn’t clear whether this development would have a significant impact, it was largely ignored by OPEC.
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Iraq Business News: Oil & Gas
MARCH 7, 2025
The security situation in Iraq continues to improve, while an investment slow-down since 2014 has led to potential improvements on contract terms which should improve scope for development. The dramatic growth in North American fracked output between 2005 and 2014 is less of a concern for OPEC exporters.
Drillers
MARCH 24, 2020
billion barrels of proven oil reserves as well as 5.675 trillion cubic metres of natural gas, which explains why the supermajors are not too tired of their problems in Nigeria. According to estimates from human rights groups, millions of barrels have leaked or spilt in the Niger Delta over the years.
The Energy Law
MARCH 15, 2017
BP , the plaintiffs alleged that BP had falsely certified to compliance with regulatory requirements pertaining to the engineering of the Atlantis Platform, a semi-submersible floating production facility capable of producing more than 100,000 barrels/day. On March 14, 2017, the Fifth Circuit affirmed the district court’s ruling.
The Energy Law
MAY 26, 2016
As a result, Judge Haik imposed a civil penalty of $1,500 per barrel spilled – for a total of $81 million – and significantly increased the penalty of $111 per barrel in his original judgment. The EPA sought a penalty of $4,300 per barrel. million dollars. Year in Rev. 48 (2015).
The Energy Law
JULY 21, 2016
According to one 2014 study, the total direct and indirect impact on the state is approximately $73.8 Pursuant to the Oil Purchase Agreement, Operator X and First Purchaser Y agree to a price formula which begins with a market center price of $65, and then deducts $3 for a final price of $62 per barrel.
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