OPEC: Energy industry spending to decline

Daniel J. GraeberVIENNA, May 13 (UPI) — Global spending in exploration and production over the next two years is expected to be about half what it was between 2012-14, OPEC said in a monthly report.

Iranian oil may be headed to Europe soon

Daniel J. GraeberTEHRAN, May 11 (UPI) — Iranian tankers are expected to start delivering crude oil to port cities feeding the European market in less than a month, a commercial director said.

Texas drilling permits down 20 percent

Daniel J. GraeberAUSTIN, Texas, May 11 (UPI) — The number of oil and natural gas drilling permits issued by Texas regulators in April was lower year-on-year by 20 percent, state data show.

Maersk Oil announcing more layoffs

Daniel J. GraeberCOPENHAGEN, Denmark, May 10 (UPI) — Danish energy company Maersk Oil announced it was trimming its payroll in an effort to cut costs in response to the pressure from lower oil prices.

EIA: Nigerian oil sector plagued by risk

Daniel J. GraeberWASHINGTON, May 10 (UPI) — Nigeria is the largest oil producer in Africa, though it’s plagued with risks as much of the industry is in the conflict-prone Niger Delta, analysis finds.

North Dakota loses two rigs

Daniel J. GraeberBISMARCK, N.D., May 9 (UPI) — The number of rigs operating in North Dakota was down two from the previous week and nearly 70 percent below this time last year, state data show.