PennWell Press & News

Pemex defers projects, cuts 2016 budget by $5.5 billion

February 29, 2016

Petroleos Mexicanos (Pemex) has reduced its 2016 capital budget by 22% compared with that of 2015 to $20.8 billion. The firm says the sharp decline in crude oil prices “poses serious liquidity problems” necessitating the downward revision.

Gas pipelines don’t lower property values, INGAA Foundation study finds

February 29, 2016

An underground natural gas pipeline’s presence does not affect residential properties’ sales prices or insurability, a study commissioned by INGAA Foundation Inc. concluded. The study by Integra Realty Resources Inc. for the Interstate Natural Gas Association of America’s foundation based the finding on analysis of property sales in Ohio, New Jersey, Virginia, and Mississippi.

Libra confirms extension of Petrobras find in presalt block

February 29, 2016

Petroleo Brasileiro SA (Petrobras) confirmed the discovery of “good-quality” oil in reservoirs showing “excellent productivity” via its 3-BRSA-1305A-RJS well, also known as 3-RJS-739A, in the northwestern portion of the Libra block in the presalt Santos basin.

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