Commodities: Oil & Gas – Featured Headlines



Various PDVSA News

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • Royalty tax hike in Trinidad and Tobago to most affect BPTT
    on 2017-10-11 at 20:03The Trinidad and Tobago government has announced an across-the-board 12.5% royalty tax on the production of crude oil, condensate, and natural gas in a move that is expected to affect mainly BP Trinidad & Tobago LLC  (BPTT). […]

  • OPEC reports production rose nearly 90,000 b/d in September
    on 2017-10-11 at 18:00The Organization of Petroleum Exporting Countries raised its forecast for crude oil demand, adding that production by members rose by nearly 90,000 b/d in September despite production-cut targets by OPEC members and some other major producers. […]

  • EIA forecasts higher US home heating bills this winter
    on 2017-10-11 at 17:52Expected colder weather and higher energy costs will raise average household expenditures for all major home heating fuels from October through March, the US Energy Information Administration said in its latest Winter Fuels Outlook. Average increases vary by fuel, with bills for home heating oil forecast to grow by 17%, natural gas by 12%, electricity by 8%, and propane by 18%, it said on […]

  • Deloitte: Executives’ confidence now ‘cautious’ for quick industry recovery
    on 2017-10-11 at 17:41A majority of oil and gas executives expect the price of West Texas Intermediate crude to remain in the $40-50/bbl range in 2017, according to a recently released survey conducted by Deloitte. In its 2017 Oil & Gas Executive survey, released Oct. 11, 64% of executives held this view. […]

  • ‘National vision’ urged for Canadian energy
    on 2017-10-11 at 17:38The Canadian Association of Petroleum Producers has proposed a six-point approach to enable Canada “to share its energy prosperity abroad and drive to a lower-carbon economy at home.&rdquo […]

  • EIA STEO: Falling global inventories, demand growth seen lifting oil prices
    on 2017-10-11 at 17:25Higher crude oil prices over the past month reflect declining global oil inventories, geopolitical events, and increasing expectations for global economic and oil demand growth, the US Energy Information Administration said in its October Short-Term Energy Outlook. […]

World Oil – US Onshore

Various Oil & Gas News

  • Oil Prices Poised To Rise In Early 2018
    by Arthur Berman on 2017-10-11 at 22:52Oil prices will be lower for longer—that is the conventional wisdom. Data suggests, however, that oil supplies are tightening and that higher prices are likely in the relatively near-future. Refined Product Demand and Crude Oil Exports U.S. crude oil plus products comparative inventories have fallen 120 mmb (million barrels) in 26 of the last 32 weeks (Figure 1). Strong domestic demand […]

  • New Iran Sanctions Could Send Oil Prices Higher
    by Tsvetana Paraskova on 2017-10-11 at 22:00Oil prices are bound to remain low over the next couple of years, but two potential events could send them either higher than today’s levels or sinking into the $30s—new U.S. sanctions on Iran or OPEC failing to extend the production cut deal beyond March 2018, Jeff Brown, president of consultancy Facts Global Energy (FGE), told the Reuters Global Commodities Summit on Wednesday. Even […]

  • Can Deep Water Wind Farms Power The World?
    by Gregory Brew on 2017-10-11 at 21:51Far out to sea, amid the crashing waves of the North Atlantic, there’s a fortune to be made. According to new research, deep water wind farms could produce enough energy to meet all existing and future electricity demand, if properly harnessed. In a study published on October 9 by researchers at the Carnegie Institution for Science and Stanford University, it’s estimated that deep […]

  • Surprise Oil Inventory Build Shocks Markets
    by Julianne Geiger on 2017-10-11 at 20:57The American Petroleum Institute (API) reported a surprise build of 3.097 million barrels in United States crude oil inventories, compared to an S&P Platts’ survey of analysts that expected inventories would draw down by 400,000 barrels for the week ending October 6. Gasoline inventories, according to the API, saw a decrease of 1.575 million barrels for the week ending October 6, […]

  • Is Iraq On The Brink Of Civil War?
    by Tsvetana Paraskova on 2017-10-11 at 20:49For much of the past month, the Kurdistan referendum on independence and its possible implications for the region have dominated news headlines from the Middle East. The fate of Kurdistan-controlled oil production and exports in the face of Turkish threats to cut off the main export route for Kurdish oil, and Iraq’s call to the neighbors and the world to deal only with the federal […]

  • Busting The Lithium Bubble Myth
    by Irina Slav on 2017-10-11 at 18:59Forget about oversupply of lithium, and ignore the naysayers. There’s no bubble here. Everyone’s talking about electric cars, and lithium miners are getting more than a kick out of it. They’re enjoying share price rallies and better growth prospects, all thanks to boisterous demand-growth predictions. Since lithium demand won’t stop growing, voices caution of a lithium […]

  • Is The War On Coal Really Over?
    by Nick Cunningham on 2017-10-11 at 18:54“The war against coal is over.” That was the claim from EPA chief Scott Pruitt ahead of his announcement that he would rewrite a signature climate change program from the Obama era. On Tuesday, Pruitt’s EPA proposed to withdraw the Clean Power Plan (CPP), a controversial step that seeks to roll back the clock on arguably the most important environmental achievement of President […]

  • France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
    by Tsvetana Paraskova on 2017-10-11 at 18:32As part of efforts to support energy transition, France’s biggest listed bank, BNP Paribas, said on Wednesday that it would no longer do business with companies whose main business is exploration, production, trading, or marketing of oil and gas from shale or tar sands projects.    In one of the latest signs that the banking industry is evaluating the wisdom of doing business with […]

  • Syria’s Kurds Aim To Control Oil-Rich Areas
    by Tsvetana Paraskova on 2017-10-11 at 18:11The Kurds in Syria are vying for control over oil-rich areas in the country with the Syrian Arab army, Syria’s Foreign Minister Walid al-Moallem told his Russian counterpart on Wednesday. “They [the Kurds] know well that Syria will not allow its sovereignty to be violated under any conditions,” al-Moallem told Sergey Lavrov at a meeting in Russia’s Black Sea resort of […]

  • How OPEC Continues To Cheat On Its Own Deal
    by Ron Patterson on 2017-10-11 at 17:16All data below is based on the latest OPEC Monthly Oil Market Report.All data is through September 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the 14th member of OPEC that was recently added, Equatorial Guinea. I do not have historical data for Equatorial Guinea so I may not add them at all. OPEC production has held steady for the past four months. […]

  • Chinese Teapots Create $5B JV To Compete With State Firms
    by Tsvetana Paraskova on 2017-10-11 at 16:56Six Chinese teapot refiners have registered a US$5 billion (33 billion yuan) joint venture to pool funds and investments in order to compete with state-owned giants in an oversupplied domestic fuels market. The joint venture is called Shandong Refining & Chemical Group, and has six independent refiners and a fund backed by the Shandong province as shareholders, Zhang Liucheng, a vice […]

  • Oil M&A Deals Set To Rise
    by Irina Slav on 2017-10-11 at 15:54Mergers and acquisitions in the oil and gas industry are on the rise, and the trend will intensify over the next 12 months, the latest Mergers and Acquisitions in Oil and Gas report from A.T. Kearney has found, as price uncertainty diminishes and new investment areas draw the industry’s attention. More than 66 percent of the industry executives A.T. Kearney surveyed said they expected at […]

Oil & Gas 360

Economic Times

HydroCarbon Processing Crude-Oil

  • Kinder Morgan Canada kills request linked to Trans Mountain pipeline
    on 1970-01-01 at 00:00CALGARY, Alberta (Reuters) — Kinder Morgan Canada Ltd on Friday withdrew its request to install anti-fish-spawning mats in construction areas for its embattled Trans Mountain pipeline expansion, potentially delaying the $5.91-B project. […]

  • Indian PM Modi targets more energy reforms after meeting oil chiefs
    on 1970-01-01 at 00:00NEW DELHI (Reuters) — India’s prime minister sees scope for further reform of the country’s energy sector and has received “focused suggestions” from some of the world’s leading energy companies, the office of the premier said on Monday. […]

  • Oil shipments from Georgia’s Batumi port down by 37% this year
    on 1970-01-01 at 00:00TBILISI (Reuters) — Oil and related shipments from Georgia’s Black Sea port of Batumi are down by 36.6 percent in the first nine months of 2017, a senior official at the terminal, operated by Kazakh state firm KazMunaiGas, said on Friday. […]

  • Vitol CEO sees oil industry shrinking
    on 1970-01-01 at 00:00LONDON (Reuters) — The world’s largest oil trader Vitol expects the oil industry to shrink given the quickening pace of the global shift to electric cars and away from fossil fuels, its chief executive said on Thursday. […]

  • Oil markets cautious as another tropical storm heads for Gulf of Mexico
    on 1970-01-01 at 00:00SINGAPORE (Reuters) — Oil markets opened cautiously in Asia on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday. […]

  • Oil rises as talk of new OPEC deal trumps record US exports
    on 1970-01-01 at 00:00LONDON (Reuters) — Oil prices rose on Thursday as signs Saudi Arabia and Russia would limit production through next year outweighed record US exports and the return of production at a major Libyan oilfield. […]

HydroCarbon Processing Natural Gas

  • IEA lifts 5-yr renewables forecast after record 2016
    on 1970-01-01 at 00:00LONDON (Reuters) — The International Energy Agency (IEA) raised its forecasts on Wednesday for renewable energy over the next 5 yr following a record 2016, adding that renewables growth is squeezing natural gas and coal. […]

  • API: US petroleum demand last month highest for August since 2007
    on 1970-01-01 at 00:00WASHINGTON — Total petroleum deliveries in August moved up by 1.3% from August 2016 to average 20.5 MMpbd, a report by the America Petroleum Institute (API) said. These were the highest August deliveries in 10 yr, since 2007. Compared with July, total domestic petroleum deliveries, a measure of US petroleum demand, decreased 0.6%. For year-to-date, total domestic petroleum deliveries moved […]

  • Petrotechnics’ survey reveals reality of risk in the global hydrocarbon industry
    on 1970-01-01 at 00:00ABERDEEN, Scotland, UK — Petrotechnics, the developer of the hazardous industries’ first software platform for operational excellence, has released its 2017 Operational Risk and Process Safety Management survey results. Insights from more than 200 senior industry leaders reveal that only 6% believe their companies are fully up-to-date with their scheduled safety-critical maintenance. […]

  • Industry Metrics
    on 1970-01-01 at 00:00US margins recorded solid gains as crack spreads for all products increased due to healthy domestic demand. […]

  • North American exodus at PetroChina sparks speculation of company shift
    on 1970-01-01 at 00:00NEW YORK (Reuters) — A flurry of departures across the US and Canadian units of Chinese state energy firm PetroChina Co Ltd have sparked speculation that the oil trader is reducing its presence in North America, even though the company says it is committed to the region. […]

  • India’s Reliance to boost profit, naphtha exports by using ethane
    on 1970-01-01 at 00:00MUMBAI/SINGAPORE (Reuters) — India’s Reliance Industries Ltd expects to increase operating profit and naphtha exports as it switches to cheaper ethane at its petrochemical projects, a company executive said on Wednesday. […]

Hellenic Shipping News Worldwide – General Energy News

  • Soon Italy May Not Be One of Europe’s Most Expensive Gas Markets
    by hellenicshippingnews.. on 2017-10-11 at 21:00Italy is looking to shed its status as one of Europe’s most expensive gas markets, but the way it plans to do so has riled traders. Lawmakers are aiming to turn a proposed national energy strategy that would overhaul the country’s gas sector into law by the end of the month. The plan, put forth … […]

  • Japan’s JERA in talks for LNG contract with no destination limits
    by hellenicshippingnews.. on 2017-10-11 at 21:00Japan’s JERA Co, the world’s biggest importer of liquefied natural gas (LNG), is set to sign a new LNG contract soon that would be free of destination restrictions as it looks to secure volumes to replace some expiring long-term deals, its top official said on Wednesday. JERA has been pushing to drop the so-called destination clause … […]

  • Taiwan’s Formosa cuts Oct refinery throughput due to maintenance
    by hellenicshippingnews.. on 2017-10-11 at 21:00Taiwan’s Formosa Petrochemical Corp is operating its 540,000 barrels per day (bpd) refinery at Mailiao at about 70 percent capacity this month, its spokesman said on Wednesday. This is down by about 26 percentage points from September and the lower run rates are a result of planned maintenance at a secondary unit. Formosa, Asia’s fifth largest refinery by capacity, […]

  • Greece seeks final bids for gas grid sale before year-end – sources
    by hellenicshippingnews.. on 2017-10-11 at 17:00Greece aims to get binding offers from investors shortlisted for a 66 percent stake in state-controlled natural gas grid DESFA by the end of the year, two sources close to the process said on Wednesday. Under its latest international bailout with the European Union and the International Monetary Fund, Greece is selling a 31 percent … […]

  • Asian oil refiners lose profit-bump from Harvey, but may get China boost: Russell
    by hellenicshippingnews.. on 2017-10-11 at 09:00The boost to Asian refiners’ profits from the loss of refining capacity in the United States from August’s Hurricane Harvey has proved temporary, but the outlook for the rest of the year is still positive. Asian refiners were among those that scrambled to take advantage of the closure of about a quarter of U.S. processing … […]

  • The East Coast’s Warm Fall Spells Trouble for Gas Bulls
    by hellenicshippingnews.. on 2017-10-10 at 21:00October weather warm enough for backyard barbecues in the U.S. Northeast isn’t doing natural gas bulls any favors. From Boston to Chicago, overnight temperatures are lingering above 60 degrees Fahrenheit (16 Celsius) at a time when they usually begin dropping into the 50s and below, AccuWeather Inc. data show. Homes and businesses are using the … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Oil slips despite expected OPEC extension of output cuts
    by hellenicshippingnews.. on 2017-10-12 at 09:00Oil prices slipped on Thursday as U.S. fuel inventories rose despite efforts by OPEC to cut production. Brent crude oil <LCOc1> was down 20 cents at $56.74 a barrel by 0840 GMT. U.S. light crude <CLc1> was 35 cents lower at $50.95. Both benchmarks have risen more than 20 percent from their lows in June … […]

  • OPEC-Russia Shouldn’t Extend Cuts If Oil at $60, Lukoil CEO Says
    by hellenicshippingnews.. on 2017-10-12 at 09:00Oil producers should not extend supply cuts beyond their expiry at the end of March if prices rise to $60 a barrel, said the chief executive officer of Russia’s second-largest oil company. Russia and OPEC should wind down their deal from April if prices reach that level, said Vagit Alekperov, the billionaire CEO of Lukoil … […]

  • Goldman expects Brent backwardation to sustain
    by hellenicshippingnews.. on 2017-10-12 at 09:00Goldman says its updated global supply-demand balance shows peak stock draws in Q317, with their greater magnitude offset by a less constructive Q417 than previously expected. Goldman says its modest 2018 global surplus remains unchanged, however, the later and marginally smaller ramp up in shale is offset by other non-OPEC growth accelerating on new projects … […]

  • Shrinking Europe Oil Glut Gets Even Smaller After U.S. Hurricane
    by hellenicshippingnews.. on 2017-10-12 at 09:00If you want to see how the oil market’s re-balancing, just take a look at Europe’s storage tanks. Crude inventories in the key hub of Amsterdam, Rotterdam and Antwerp — known in the industry as ARA — are now at their lowest level since February 2015. The sharp declines are being driving by a diesel … […]

  • A stronger OPEC needs Russia
    by hellenicshippingnews.. on 2017-10-12 at 09:00In his book, former Saudi Oil Minister Ali Al-Naimi expresses skepticism about the willingness of Russia to join efforts made by the Organization of the Petroleum Exporting Countries (OPEC) to rebalance the market. Al-Naimi’s pessimism was not unfounded. He spent years talking to Russian officials about efforts to rebalance the market during several crises since … […]

  • OPEC sees higher oil demand, points to tighter market in 2018
    by hellenicshippingnews.. on 2017-10-11 at 21:00The OPEC Reference Basket rose to $53.44/b in September, its highest value since July 2015. Crude futures prices also saw gains, with ICE Brent averaging above the $55/b, supported by increasing evidence that the oil market is heading toward rebalancing. Geopolitical tensions and lower distillates stocks also pushed prices higher. ICE Brent averaged $55.51/b in … […]

Oil & Gas Financial Journal

The Barrel

  • FLNG forges ahead in Africa
    by Neil Ford on 2017-10-12 at 05:01Global LNG supply is set to race ahead of demand, but floating LNG projects are forging ahead, and they are doing so in Africa, backed in part by China. The continent’s first FLNG vessel has been completed and is due to reach Cameroonian waters in November. The Hilli Episeyo has been built by Singapore’s Keppel […] The post FLNG forges ahead in Africa appeared first on The […]

  • Crude storage costs fall as WTI curve flattens: In the LOOP
    by Mary Hogan on 2017-10-10 at 05:01The price of front-month sour crude oil storage at the Louisiana Offshore Oil Port fell 5 cents/b month on month even as imports to the US Gulf Coast increased over the same period to pre-Harvey levels. Matrix Markets hosts, on behalf of LOOP, a monthly auction in which the oil terminal sells the right but […] The post Crude storage costs fall as WTI curve flattens: In the LOOP appeared […]

  • Despite draft Nuclear Safeguards Bill, UK struggles with impending ‘Brexatom’
    by Oliver Adelman on 2017-10-10 at 00:01Despite a draft Nuclear Safeguards Bill that will go some way towards addressing the new licensing requirements for nuclear fuel, equipment and radioactive material after Brexatom – as the UK’s departure from the European Atomic Energy Community has come to be known – the UK is nonetheless struggling to find a successor arrangement to the […] The post Despite draft […]

  • Russia’s Rosneft goes big into natural gas
    by Rosemary Griffin on 2017-10-09 at 05:39Rosneft has recently inked a number of deals which could facilitate the company’s ambitions to develop international gas trading and export operations, the latest stage in a long-running attempt to become a major gas player and access the lucrative export market. Rosneft initially announced plans for a significant ramp up of gas output in 2013, […] The post Russia’s Rosneft […]

  • Vibrant and youthful Philippines emblematic of ASEAN’s energy challenge
    by Paul Bartholomew on 2017-10-06 at 04:01“I used to swim in this bay when I was a kid but there’s nowhere to swim anymore,” the hotel driver said on the way to Manila airport, pointing to the hotels and giant shopping malls that now occupy the Bay City area of the Philippine capital. A population of 12 million people and some […] The post Vibrant and youthful Philippines emblematic of ASEAN’s energy […]

  • US shale gas casts a long shadow over petrochemicals
    by Shashank Shekhar on 2017-10-05 at 15:00Middle Eastern petrochemical companies are known for their lavish hospitality, but at a cocktail party organized by a major Saudi company in Berlin recently, the atmosphere was quite somber. A conversation with one of the hosts on the impact of shale gas went some way to explaining this. “We are worried that the Americans will […] The post US shale gas casts a long shadow over […]

Energy and Capital

Energy Business Review – Oil & Gas

Oil & Gas iQ

  • The oil and gas sector needs to diversify if it wants to prosper
    by Jerad Ford on 2017-10-12 at 12:54One does not have to look far to see signs that the oil and gas industry has a bumpy road ahead. Demand might stay high for decades, but given the dizzying pace of technological change, who would bet on that?Take the recent pledges by India, France, Britain, and China to phase out petrol and dies […]

  • A four-step plan for data excellence
    by John Woodhouse on 2017-10-12 at 12:54Using the SALVO process, we can identify four methods that asset-heavy organisations should employ in order to reach a goal of optimal data identification and usage.Step 1 “Identify problems and improvement opportunities” spells out the business impact criteria for which assets need what attention […]

  • Oil &amp; gas: Transforming through digital technologies
    by Diana Raicu on 2017-10-12 at 12:54The oil and gas industry has recently experienced one of its worst downturns, driven by multiple factors including a sharp supply-side disruption where heightened production flooded the global market.This oversupply reached as much as 1.8 million barrels of oil equivalent per day in 2015. At on […]

  • Upcoming report shows oil and gas industry on the cusp of disruptive reform
    by Diana Raicu on 2017-10-12 at 12:54Intelligent enterprise (IE) technology could lead to an oil and gas revolution according to 14 per cent of respondents in a major industry poll.A recent Oil & Gas IQ survey has uncovered that the suite of novel technologies, including everything from artificial intelligence to chatbots, w […]

Arabian Oil And Gas  – News

US Department of Energy – Press Releases and Techlines