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Are Oil Prices Headed Back Above $100 A Barrel?

Energy Central

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.

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OPEC is Trying to Outlast The Shale Boom

Energy Central

oil production by about 9 million barrels per day. By late 2014, as U.S. oil production growth was approaching 5 million BPD, OPEC decided they could no longer ignore it. By late 2014, as U.S. oil production growth was approaching 5 million BPD, OPEC decided they could no longer ignore it.

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Petrel Resources Raises £250,000 for Iraq Oil Projects

Iraq Business News: Oil & Gas

According to a statement from the company, the funds will provide additional working capital, supporting Petrel's efforts to secure new oil and gas projects in Iraq and beyond. Petrel has recently submitted an application to assume an existing contract east of Baghdad 4 th Bid round award in 2012, at a remuneration per barrel of $5.38.

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Nigeria Oil Industry Overview

Drillers

The Oil Industry of Nigeria If anyone asks Chevron or Shell, for example, how they feel about Nigeria, the response would probably be that they were tired of problems, at least if they were honest. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration.

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Louisiana Department of Revenue Targets Energy Companies in Rash of Oil Severance Tax Audits

The Energy Law

The oil and gas industry has a significant and far reaching economic impact in Louisiana. According to one 2014 study, the total direct and indirect impact on the state is approximately $73.8 3] Natural resources might include, for example timber, minerals like oil and gas, coal, salt, or sulphur. 47:633(7)(a).

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U.S. Fifth Circuit Greenlights Contribution Action for Purely Economic Damages Under Oil Pollution Act (OPA)

The Energy Law

9, 2017), the United States Fifth Circuit Court of Appeals held for the first time that a Responsible Party under the Oil Pollution Act of 1990 (“OPA”) has a statutory claim for contribution to recover purely economic damages from a partially liable third party. Following the spill, the U.S.

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Fifth Circuit Dismisses False Claims Act Suit Alleging Violation Of Offshore Regulations

The Energy Law

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.