UK oil against drilling ban.mpg

The CEO of a British oil and gas industry association says the U.K. does not need to halt drilling in the North Sea. Malcolm Webb of Oil and Gas UK says deepwater drilling regulations in the U.K. are better than those in the U.S., so a disaster like the one in the Gulf of Mexico is unlikely.

Crude prices are expected to decline this week on bearish technical indicators, rising inventories and improving refinery utilization rates. Meanwhile, natural gas is likely to trade higher on bullish technical trends and higher demand.

Oil prices may trade lower this week on rising inventories. Samson Oil & Gas Limited advises that it has closed on the first sale of 19,451 acres of its Denver-Julesberg Basin acreage interests in Goshen County, Wyoming, for US$63.7 million in cash, which amount includes the US$10 million deposit previously received by Samson from the Buyer. A second closing is scheduled for the week beginning September 20th.

Jude    Maritime News, News     Baker Hughes, British oil, crude oil, Crude prices, deepwater drilling, Denver-Julesberg Basin, gas industry, Goshen County, Gulf of Mexico, halt drilling, natural gas, North Sea, offshore platforms, Samson Oil & Gas Limited, Wyoming

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