Why oil is down by half, what it means for you

The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing.

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EIA: Despite lower crude oil prices, U.S. crude oil production expected to grow in 2015

The recent decline in crude oil prices has created the potential for weaker crude oil production. 

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13 killed in collapse at hydropower plant site in Ecuador

A sudden collapse at the site of Ecuador's largest-ever infrastructure project killed 13 people and injured a dozen more, officials said Sunday.

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MIT: The future of fusion power

The next two years in MIT’s Department of Nuclear Science and Engineering may see fusion research embark on a landmark period of innovation.

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Concern regarding OPEC grows as oil prices fall

Oil prices hit a new five-year low Dec. 10 following the Organization of Petroleum Exporting Countries' reduced crude oil production estimates for 2015, USA Today reported. 

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New York will move to prohibit hydraulic fracturing

Gov. Andrew Cuomo's administration will move to prevent fracking in the state, citing unresolved health issues and dubious economic benefits of the widely used gas-drilling technique.

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Latest Energy News - Oil & Gas

Natural gas futures drop in December

Dec 22, 2014 Natural gas futures fell on the New York Mercantile Exchange by 6 cents to stop at $3.642 per...

Hawaii Gas wants to increase liquefied natural gas shipments into state

Dec 22, 2014 In an effort to reduce Hawaii's dependence on oil and lower energy costs, Hawaii Gas wants to...

Natural gas fired power replacing coal in US

Dec 22, 2014 A new analysis conducted by the Breakthrough Institute found between 2007 and 2013, natural g...

Latest Energy News - Power

Austin Energy focuses on solar power

Dec 22, 2014 The Austin City Council approved the business's new energy plan and the company reinstated it...

Duke Energy buys North Carolina solar power plant

Dec 22, 2014 Duke Energy Renewables announced Dec. 19 it purchased a 20-megawatt solar project located in ...

EPA expected to treat coal ash waste like garbage

Dec 22, 2014 Industry experts widely expect the first federal standards for the waste generated from coal ...

Weekly Newscast

 

 

Offshore Technology Conference 2014 News

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PennEnergy brings you the latest news and announcements for The Offshore Technology Conference 2014 from across the industry. Click here for coverage before, during and after OTC – a premier gathering for energy professionals offering peer-selected technical programs and the latest innovations in products and services.

Energy Efficiency

ExxonMobil’s Equipment Builder Group 100 Years

ExxonMobil’s Equipment Builder Group Celebrates 100 Years of Innovation

ExxonMobil’s Equipment Builder Group plays a key role in helping optimise the performance of gas-powered machinery.  Click here to read the full article >>

Webcasts

Managing Enterprise Pipeline Operations in the Control Room and Beyond.

Today’s enterprise oil & gas pipelines are continuously looking for ways to efficiently manage their operations within an ever changing environ...
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Digital Oilfield Solutions The Internet of Your Things

The Industrial Internet of Things is not a futuristic technology trend: it’s here today, and it starts with your things. You don’t need to rip and ...
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Whitepapers

Energize Your Most Vital Business Relationships: Advanced Contract Lifecycle Management in the Oil and Gas Sector

In today’s more dynamic and globalized energy marketplace, formal contracts define nearly every business relationship and ...

Improve Accuracy and Reduce your Lease Operating Expense and Risk in Upstream Oil & Gas Production

In this whitepaper, we will address both the technical approach to achieving the highest possible accuracy in allocation m...

Infographic: Smart Process Applications for a Mobile Workforce

In partnership with PennEnergy Research, OpenText surveyed energy companies in the oil and gas, power and services sectors...

Survey Report: Smart Process Applications for a Mobile Workforce

In partnership with PennEnergy Research, OpenText surveyed energy companies in the oil and gas, power and services sectors...

Oil & Gas Wire News

MCW Energy Group Details Further Progress of Its Initial Oil Sands Extraction Plant in Utah

Dec 22, 2014 MCW Energy Group Details Further Progress of Its Initial Oil Sands Extraction Plant in Utah

American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

Dec 22, 2014 American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

Ambient Water Releases Letter to Shareholders

Dec 22, 2014 Ambient Water Releases Letter to Shareholders

Western Gas Partners Announces Expiration of Third Party Option

Dec 22, 2014 Western Gas Partners Announces Expiration of Third Party Option

Power Wire News

T5 Manufacturer Slashes Price on 4 and 6 Lamp High Bay Fixtures

Dec 22, 2014 T5 Manufacturer Slashes Price on 4 and 6 Lamp High Bay Fixtures

American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

Dec 22, 2014 American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

Industrial Info Tracks $590 Billion in Planned 2015 North American Project Starts

Dec 22, 2014 Industrial Info Tracks $590 Billion in Planned 2015 North American Project Starts

TradeTech Releases Uranium Market Study

Dec 20, 2014 TradeTech Releases Uranium Market Study
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Oil Refining & Processing News

China refining gets Honeywell hydrogen purification technology

PetroChina Guangxi Petrochemical Company is using UOP process technology...

Halcon Resources to build natural gas facility in Texas

Halcon Resources Corp. is moving from diesel to natural gas, and has com...
The price of a barrel of oil is just under $58, down from a summer high of $107, and lower than at any time since the U.S. was still in recession in the spring of 2009

Why oil is down by half, what it means for you

So what's going on? A global imbalance of supply and demand that is ripp...

Nord Stream wins Platts award for midstream industry leadership

The Platts Energy Awards recognize companies in the energy industry that...

Oil & Gas Pipelines and Transportation News

Cheniere and GE sign liquefied natural gas service agreement

GE will provide spare parts and planned inspections, maintenance service...

Global oil impact: Who's hurting, happy, hopeful

Oil's plunge is spreading both pain and gain across the globe. 

Statoil awards offshore drilling contract to Schlumberger

Schlumberger will deliver all the main drilling and well services for Ma...

Israel finds more offshore natural gas in the Mediterranean

Israel announced in December a major offshore natural gas discovery off ...

Nuclear Power Generation

Power sector employment declines, except for renewable electricity generators

The electric power generation sector lost more than 5,800 jobs from Janu...
AREVA launches ground-breaking solution to improve the reliability of nuclear power plant secondary systems

AREVA solution preserves secondary systems at nuclear plants

AREVA launches ground-breaking solution to improve the reliability of nu...
Economics analyst H-Holger Rodgner posits that without a price on carbon emissions, gas could edge out nuclear and renewable energy—increasing overall emissions.

Analysis: A global natural gas boom alone won't slow climate change

Economics analyst H-Holger Rodgner posits that without a price on carbon...
The next two years in MIT’s Department of Nuclear Science and Engineering (NSE) may see fusion research embark on a landmark period of innovation

MIT: The future of fusion power

The next two years in MIT’s Department of Nuclear Science and Engineerin...

Coal Fired Generation News

Natural gas fired power replacing coal in US

A new analysis conducted by the Breakthrough Institute found between 200...

EPA expected to treat coal ash waste like garbage

Industry experts widely expect the first federal standards for the waste...

Power sector employment declines, except for renewable electricity generators

The electric power generation sector lost more than 5,800 jobs from Janu...
Former Massey Energy CEO, charged with violations related to a deadly 2010 mine explosion, asks judge to have his case moved and trial delayed (ASP Image: Former Massey Energy Company Chairman and CEO Don Blankenship)

Coal News: Former Massey CEO looks to delay mine blast trial

Former Massey Energy CEO, charged with violations related to a deadly 20...

Gas Fired Generation News

Hawaii Gas wants to increase liquefied natural gas shipments into state

In an effort to reduce Hawaii's dependence on oil and lower energy costs...

Natural gas fired power replacing coal in US

A new analysis conducted by the Breakthrough Institute found between 200...

Power sector employment declines, except for renewable electricity generators

The electric power generation sector lost more than 5,800 jobs from Janu...

Cheniere and GE sign liquefied natural gas service agreement

GE will provide spare parts and planned inspections, maintenance service...

Renewable Energy

Austin Energy focuses on solar power

The Austin City Council approved the business's new energy plan and the ...

Duke Energy buys North Carolina solar power plant

Duke Energy Renewables announced Dec. 19 it purchased a 20-megawatt sola...

Power sector employment declines, except for renewable electricity generators

The electric power generation sector lost more than 5,800 jobs from Janu...

12 workers freed from collapsed tunnel in Vietnam

The workers were trapped when a section of the tunnel collapsed as they ...

Exploration & Production News

Natural gas futures drop in December

Natural gas futures fell on the New York Mercantile Exchange by 6 cents ...

Natural gas fired power replacing coal in US

A new analysis conducted by the Breakthrough Institute found between 200...

US oil and gas rig count down 18 to 1,875

Of the major oil- and gas-producing states, Arkansas gained three rigs, ...

EPA expected to treat coal ash waste like garbage

Industry experts widely expect the first federal standards for the waste...

Transmission & Distribution

Power sector employment declines, except for renewable electricity generators

The electric power generation sector lost more than 5,800 jobs from Janu...
On-grid battery storage system to manage peak demands and smoothly integrate renewable energy sources (Image: Battery energy storage system of SAGER project)

AEG and partners develop prototype energy storage station

On-grid battery storage system to manage peak demands and smoothly integ...
BPA says there have been four incidents of damaged insulators on its Olympia-Grand Coulee transmission line over the past 90 days

Gunfire damages BPA transmission line insulators

BPA says there have been four incidents of damaged insulators on its Oly...
Alstom delivers new Outage Management System (OMS) and Distribution Management System (DMS) upgrade to Alabama Power

Alstom’s Outage Management System live at Alabama Power

Alstom delivers new Outage Management System (OMS) and Distribution Mana...

Offshore Oil & Gas News

US oil and gas rig count down 18 to 1,875

Of the major oil- and gas-producing states, Arkansas gained three rigs, ...

Eni acquires offshore exploration permits in Portugal

The company has acquired a 70% stake and operatorship in three offshore ...

Statoil awards offshore drilling contract to Schlumberger

Schlumberger will deliver all the main drilling and well services for Ma...

Cyprus: initial offshore drilling finds no gas

The ministry said new drilling will begin elsewhere inside an area, or b...

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