EnLink, Devon team on $3.5 billion Oklahoma deal

Even as crude prices stumble, Dallas pipeline company EnLink Midsteam and its partner company Devon Energy are betting $3.5 billion is a bargain in Oklahoma’s oil and gas fields right now. The two companies – which merged in 2014 but maintain separate operations in Dallas and Oklahoma City – announced Monday they were buying both a …

New York pension fund launches $2 billion low-carbon index

New York State’s pension fund launched a $2 billion low-carbon index which will exclude or reduce investment in high-emitting industries such as coal mining, the State Comptroller said on Friday. Launching the scheme from the global climate summit in Paris Thomas P. DiNapoli said: “Low-carbon, sustainable investments are key to our future …and this expansion …

Oil’s Big Players Line Up for $30 Billion of Projects in Iran

OSLO—The International Energy Agency’s executive director said Monday that global oil and gas investments were expected to drop in 2015 and 2016, marking the first two-year spending decline in decades, and he warned of the long-term impact on supply. “We have never seen this in the last 30 years, two consecutive years of investment decline,” …

Auction of Marginal Oil and Gas Fields May Begin in February

The much-awaited auction of 69 marginal oil and gas fields, which would usher in  the revenue-sharing model of contracts, is likely to commence in February. Confirming the contours of the  new contract are being finalised, a senior petroleum ministry official told FE, “The exact date of auction would be decided at the highest level of …

Report: Downturn will fundamentally reshape services industry

Oil field services companies slogging through the worst downturn in decades can no longer rely on their traditional oil bust playbook of cutting costs, laying off people and offering deep discounts. Instead, the industry will have to reshape the way it does business to meet the evolving needs of oil companies clamoring for cheaper and …