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Light, sweet crude oil prices fell by more than $1/bbl for a second consecutive trading session on the New York market June 4 while Brent crude oil prices dropped about $1.50/bbl on the London market. 

Bahrain will select international partners in December 2019 for the production phase of a large oil and gas discovery off its west coast. Crown Prince Salman bin Hamad Al Khalifa, deputy supreme commander and first deputy prime minister, sketched a timetable for development of the discovery at a June 3 meeting of the Higher Committee for Natural Resources and Economic Security.

Crude oil prices gained on both the London and New York markets June 5, but Brent prices fell in June 6 trading on news reports that Venezuela state oil company Petroleos de Venezuela SA (PDVSA) might declare force majeure on some oil contracts. 

Tight oil technology was improving already when crude oil prices began their plunge in mid-2014, speakers generally agreed during the US Energy Information Administration’s 2018 conference. But improvements might have quickened as the drop accelerated because producers and their goods and services suppliers felt pressed to be more economically and operationally efficient, they said during a June 4 breakout session. 

The US Bureau of Land Management’s incurred costs and potential liabilities for reclaiming oil and gas wells likely increased from fiscal 2010 through 2017, but it’s not certain by how much since the agency does not track the needed data, the Government Accountability Office said in a report that it released on June 5.


RT @AnteroResources: Don't forget – our 3rd annual oil and gas dodgeball tournament is on June 15! Proceeds benefit Patrons of the Parks an…

RT @energizeWV: “The Cheat River is a beautiful river and one that stood out to us as a place that we could make a positive impact," Rowlan…