Statoil Awards ERRV Contracts
Statoil awards Simon Møkster Shipping AS contracts for three emergency response and rescue vessels (ERRV), and Havila Shipping ASA for one ERRV. The contacts have a total value, included options, of NOK 2.7 billion. The vessels will be part of Statoil’s area-wide emergency response on the Norwegian continental shelf (NCS). The emergency response vessels play an important role in addressing government authorities’ and the company’s own requirements for rescue, hospital, fire-fighting, emergency towing and oil spill preparedness.
Mansion Sales, Discount Dining: Oil Woes hit Houston's Rich
Prices for mansions in Houston's swankiest neighborhood have tumbled in lock step with crude prices. The Houston Opera has offered free season tickets to patrons who lost their jobs in the oil bust. A fancy restaurant offers cut-price dinners. Twenty months into the worst oil price crash since the 1980s, well-heeled residents of the world's oil capital are among the hardest hit largely because tanking energy firm shares make up much of oil and gas executives' compensation.
Sewage Flow is Williston's Oil Bust Indicator
The population of a U.S. oil boomtown that became a symbol of the fracking revolution is dropping fast because of the collapse in crude oil prices , according to an unusual metric: the amount of sewage produced. Williston, North Dakota, has seen its population drop about 6 percent since last summer, according to wastewater data relied upon heavily by city planning officials. They turned to measuring effluent because it was a much faster and more accurate way to track population than alternatives such as construction permits…
Oklahoma to Overturn Local Drilling Controls
Facing a backlash over the side effects of its oil and gas boom, Oklahoma is poised to overturn an 80-year-old statute that allows cities and towns to ban drilling operations within their borders. The legislation, now being finalised, would help insulate energy companies from local movements that have grown in response to the rapid expansion of oil and gas drilling and a dramatic spike in earthquakes across the central state.
Kemp: U.S. Crude Oil Stocks Return to 1930s Crisis Levels
U.S. commercial crude oil stocks last week hit their highest level since 1931 - when the opening of giant oil fields in the United States coincided with the Great Depression to create an enormous glut and sent prices tumbling to just 13 cents per barrel. Commercial crude stocks at refineries and tank farms across the country rose to almost 407 million barrels on Jan 23, up from 398 million the week before, according to the U.S. Energy Information Administration (EIA) (http://link.reuters.com/jax83w).
