An earthquake centered north of Osaka, Japan, earlier today killed at least three people and injured hundreds, caused water mains to burst and forced factories to suspend work. The magnitude 6.1 temblor occurred at a depth of 13 kilometers, the Japan Meteorological Agency said.
Norway said it has awarded 12 oil and natural gas production licenses to 11 companies. Nine of the licenses are in the Barents Sea and three are in the Norwegian Sea.
Uruguay will change its bidding system for oil auctions after receiving no bids in an April auction for 17 blocks, an energy official said. The South American country will create consistent bidding conditions and keep blocks open for bids.
A magnitude 5.6 earthquake centered less than 18.7 kilometers from Escuintla, Guatemala, on Sunday caused no damage, disaster officials said. Escuintla is at the base of the Fuego volcano, which started erupting two weeks ago and has killed at least 110 people.
Researchers studying ancient Aztec and Mixtec mosaic tiles say the mineral turquoise within them matches the geology of Mesoamerica, even though little evidence of turquoise mining exists there. The researchers, who say turquoise deposits may have been present at the surface of Mesoamerican areas rich in copper, question the belief that the cultures traded for turquoise with peoples in the American Southwest.
Oil production likely won't begin in the Arctic National Wildlife Refuge in Alaska until after 2030. The Energy Information Administration said companies will need time to acquire leases, look for oil and build infrastructure in the refuge, which may offer 5.7 billion to 16 billion barrels of oil in the coastal plain.
West Texas Intermediate's discount to global benchmark Brent could widen further as infrastructure constraints emerging near Cushing, Okla., threaten to inflate inventories at the storage hub, putting downward pressure on US oil futures. The WTI-Brent spread could hit $15 per barrel by the end of next year, according to Raymond James, as North American production growth continues to outpace infrastructure expansions.
US oil producers including Wildhorse Resource Development, EOG Resources and ConocoPhillips are using new shale technology to revive older plays, most notably the Austin Chalk formation in Texas and Louisiana, the Meramec in Oklahoma and the Central Basin Platform in Texas. Production in the Austin Chalk peaked in the early 1990s, but tech innovations helped boost output to 57,000 barrels per day last year, up from 3,000 barrels per day five years ago and up 50% from 2016.
Pennsylvania's Public Utility Commission on Thursday authorized Energy Transfer Partners to restart operations on its Sunoco Mariner East 1 natural gas liquids pipeline following a service suspension order last month. However, the commission stopped short of allowing ETP to resume construction of the Mariner East 2 and 2X pipelines in West Whiteland Township.
Diversified Gas & Oil has agreed to acquire oil and natural gas assets in the Appalachian Basin for approximately $575 million from an unidentified seller. The assets include about 11,350 wells producing 32,100 barrels of oil equivalent per day.