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The latest Oil and Gas news from Oil and Gas Journal
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US President Donald J. Trump signed H.J. Res 44, effectively overturning the US Bureau of Land Management’s Planning 2.0 rule. “[It] took control of land-use decisions away from states and local decision makers and gave it to Washington, and that’s not good,” the president said in a Mar. 27 White House ceremony where he signed three similar bills passed under the Congressional Resolution Act.

Posted: March 28, 2017, 5:18 pm

Saudi Aramco Pres. and Chief Executive Officer Amin H. Nasser welcomed a Mar. 27 tax cut that he said would bring his company’s tax burden “in line with international benchmarks.” In a move seen as preparation for an initial public offering of 5% of the company as early as next year, the government lowered Aramco’s tax rate to 50% from 85%.

Posted: March 28, 2017, 5:06 pm

PT Medco Daya Sentosa, a subsidiary of PT Medco Energi Internasional TBK, Jakarta, is acquiring all the remaining shares of Inpex Natuna Ltd., which owns 35% in South Natuna Sea Block B offshore Indonesia.

Posted: March 28, 2017, 5:01 pm

The light, sweet crude oil contract for May delivery fell on the New York market Mar. 27 to settle below $48/bbl. Before closing, crude oil dipped to a trading session low of $47.08/bbl, which was within 10¢ of a low set in November 2016.

Posted: March 28, 2017, 2:46 pm

Due to a surge in oil hedges, the recent oil-price weakness will not prompt US producers to pull back on drilling, research and consulting firm Wood Mackenzie Ltd. says in its latest analysis of oil and gas hedging activity.

Posted: March 27, 2017, 4:46 pm
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