Commodities: Oil & Gas – Featured Headlines



Various PDVSA News

  • Venezuela: former execs of state oil company arrested
    on 2017-12-01 at 02:37Arrests are part of a series of corruption investigations at the state-owned Petroleos de Venezuela (PDVSA). … Venezuelan former oil minister, Eulogio Del Pino, and the president of the state oil company PDVSA, Nelson Martínez, were arrested Thursday, accused of being part of a corruption network. […]

  • World Digest: Nov. 30, 2017
    on 2017-11-30 at 23:37Venezuela arrests former top oil officials in corruption probe: Venezuela arrested two former top officials in a widening corruption probe into the state-run oil industry. The moves consolidate President Nicolás Maduro’s grip on the oil producer PDVSA, which is his socialist regime’s economic mainstay, … […]

  • Venezuela Arrests 2 Former Oil Officials, Claiming Corruption
    on 2017-11-30 at 23:37Now Petróleos de Venezuela, known as Pdvsa, is effectively in default on its $26.5 billion in unsecured bonds, and it faces claims of $60 billion in missed payments from contractors and service companies that drill and maintain its fields. Sanctions by the Trump administration are blocking the flow of … […]

  • UPDATE 1-Venezuela creditors meet with Rothschild in London -sources
    on 2017-11-30 at 23:03The meeting, organized by UK-based hedge fund MacroSynergy Partners, aimed to discuss a likely path forward on debt issued by the government and state-owned oil company PDVSA, as well as whether to form an informal, ad-hoc bondholder committee, according to an invitation seen by Reuters. […]

  • Venezuela arrests two former oil bosses on sabotage charges
    on 2017-11-30 at 22:41DAMASCUS, SYRIA (12:40 AM) – Two former bosses of the Venezuelan petroleum industry have been arrested by security forces on Thursday, according to official sources. The two detainees are Nelson Martinez, ex-chief of state oil company PDVSA, and former Minister for Oil Eulogio del Pino. […]

  • Ex-Venezuelan top oil officials arrested on corruption charges
    on 2017-11-30 at 22:2030 (Xinhua) — Two former top oil officials were arrested on charges of corruption, Venezuelan Prosecutor General Tareck William Saab said on Thursday. Eulogio del Pino and Nelson Martinez, who served this year respectively as oil minister and president of Venezuela’s state oil company PDVSA, were … […]

  • PDVSA’s Amuay refinery halts 645000 bpd distillation unit
    on 2017-11-30 at 20:57I don’t doubt that the old PDVSA president was corrupt. I do doubt that someone who is in the military in Venezuela is less corrupt. In fact, the new guy may think Venezuela has had it and will be in more of a hurry to get extremely rich. Also, thinking he is a military guy more immune from getting arrested, … […]

  • In pre-recorded video, detained Venezuela oil minister says is ‘victim’
    on 2017-11-30 at 20:15CARACAS (Reuters) – Venezuela’s former Oil Minister Eulogio Del Pino, in video shot before his detention and published on his Twitter account on Thursday, said he had been a “victim” of an “unjustified attack.” FILE PHOTO: President of Venezuelan state oil company PDVSA Eulogio del Pino speaks … […]

  • Number of Arrested People by Corruption in Venezuela Reported
    on 2017-11-30 at 20:03The head of the Venezuelan Public Ministry reported that 16 of the arrested people, were occupying high posts in state oil company Petróleos de Venezuela SA (Pdvsa). Among them, the name of not too much long ago Venezuelan Oil Ministry Eulogio del Pino is included, and also, the name of Nelson … […]

  • Citgo’s Future in Doubt, Thanks to Its Takeover by Venezuela’s Military
    on 2017-11-30 at 19:52Immediately following Venezuela President Maduro’s arrest of 50 people running his oil company, allegedly in an attempt to eliminate corruption at that company, PdVSA, he named a military general as his oil minister and replaced the company’s manager with a political crony. Neither has any oil … […]

  • PDVSA’s Amuay refinery halts distillation unit -union leader
    on 2017-11-30 at 19:47The 955,000 bpd Paraguana Refining Center, which includes Amuay and the neighboring 310,000 bpd Cardon refinery, is currently producing at 27 percent of its installed capacity, Freites said, citing an internal report. State oil company PDVSA did not immediately respond to an email seeking comment. […]

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • OPEC, collaborators extend output restraint
    on 2017-11-30 at 21:18Restraint of oil production by members of the Organization of Petroleum Exporting Countries and 10 cooperating nonmembers is to continue through 2018 under agreements reached Nov. 30 in Vienna. […]

  • China Energy makes takeover offer for AWE
    on 2017-11-30 at 18:02Chinese state-owned China Energy Reserve & Chemical Group has made a $430-million (Aus.) takeover bid for Sydney’s AWE Ltd. AWE, which earlier this week announced the completion of a successful test evaluation of the Waitsia gas field in Western Australia, described the cash bid as “unsolicited, nonbinding, indicative, and conditional.&rdquo […]

  • Statoil lets contract for Northern Lights terminal
    on 2017-11-30 at 17:36Statoil has let a contract to KBR Inc. for the concept and front-end engineering design of its Northern Lights onshore carbon dioxide storage terminal in Norway. The terminal is a key component of the carbon capture and storage demonstration project being undertaken by Gassnova, with Statoil, in partnership with Royal Dutch Shell PLC and Total SA, responsible for transport and storage. […]

  • Beach farms into Cue Energy’s Ironbark prospect
    on 2017-11-30 at 17:05Beach Energy Ltd., Adelaide, has signed a binding agreement with Cue Energy Resources Ltd. of Melbourne to farm into two exploration permits in the Carnarvon basin offshore Western Australia that contain the large Ironbark gas and condensate prospect. […]

  • Chavez to head Citgo after execs arrested
    on 2017-11-30 at 16:27Asdrubal Chavez, a cousin of the late former president of Venezuela, has been named acting president and chief executive officer of Citgo Petroleum Corp. a week after the arrests of his predecessor and five other company executives on charges of corruption.&nbs […]

  • MARKET WATCH: NYMEX oil holds above $57/bbl before OPEC meeting
    on 2017-11-30 at 16:17The light, sweet crude oil contract for January delivery settled above $57/bbl Nov. 29, dropping modestly before members of the Organization of Petroleum Exporting Countries met Nov. 30 in Vienna. Brent crude oil for January also fell but still settled above $63/bbl. […]

World Oil – US Onshore

Various Oil & Gas News

  • Crude oil futures up 1 pc on global cues
    on 2017-12-01 at 06:11Analysts said, speculators built fresh positions after oil prices rose in Asia after OPEC announced it would extend cuts in oil output by nine months through 2018. Meanwhile, West Texas Intermediate gained 15 cents, or 0.26 per cent, to USD 57.55 while Brent crude rose 19 cents, or 0.30 per cent to USD … […]

  • Brent oil price rises as Opec agrees to cut production
    on 2017-12-01 at 06:00Benchmark Brent crude traded up 0.5% at $63.43 a barrel in London trade. Russia had previously sought assurances on how and when the agreement would be phased out, people involved in negotiations said earlier this week. The country needs greater clarity than most Opec members because its … […]

  • UPDATE 2-Oil prices gain after OPEC extension of production cut
    on 2017-12-01 at 03:22Brent February crude futures rose 27 cents to $62.90. Analysts had said earlier that the nine-month extension was already priced in. Over November, Brent rose about 3.6 percent and U.S. West Texas Intermediate crude (WTI) gained about 5.6 percent as traders pushed up prices in anticipation of the … […]

  • Oil Nears $65 Per Barrel, Producers Extend Cut to 2018’s End
    on 2017-12-01 at 02:37Oil prices are now at a near two-year high, with Brent Crude approaching $65 per barrel. “The current market conditions, the returning level of confidence and optimism in the industry are all evidence of the outcome of our joint efforts,” OPEC Secretary-General Mohammad Sanusi Barkindo said earlier … […]

  • Asian shares edge up with US tax bill in focus
    on 2017-12-01 at 01:08For November, U.S. crude added 5.5 percent. Brent crude futures added 29 cents or 0.5 percent to $62.92 a barrel. Brent rose for a third consecutive month in November, gaining about 3.6 percent. Gold prices edged higher after marking a 3-1/2 week low in the previous session. Spot gold was up 0.1 … […]

  • COLUMN-OPEC, Russia have done their bit, now it’s the turn of US, China: Russell
    on 2017-12-01 at 00:56That’s the sort of news that OPEC and its partners won’t want to hear, as it gives U.S. producers an opportunity to export more crude to Asia, especially since the discount of U.S. West Texas Intermediate to Brent crude is still over $6 a barrel, wide enough to make shipping across the Pacific or even … […]

  • UPDATE: Oil notches a gain as OPEC extends output-cut pact to end of 2018
    on 2017-11-30 at 21:00January West Texas Intermediate crude added a dime, or less than 0.2%, to settle at $57.40 a barrel on the New York Mercantile Exchange. … OPEC members pledged in November of last year to reduce their crude output by 1.2 million barrels a day from October 2016 levels to 32.5 million barrels a day … […]

  • Oil prices rise as crude output cut extended
    on 2017-11-30 at 20:15Oil prices rise as crude output cut extended … The West Texas Intermediate for January delivery increased 0.10 U.S. dollar to settle at 57.40 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery added 0.46 dollar to close at 63.57 dollars a barrel on the London … […]

  • Oil exporters agree to extend output curbs
    on 2017-11-30 at 19:35The world’s leading oil exporting nations have agreed to extend production curbs, aimed at boosting the oil price, by nine months. The Organisation of Petroleum Exporting Countries (Opec) and non-members, led by Russia, agreed the output limits would continue until the end of 2018. The limits were … […]

  • OPEC said to agree on oil-cuts extension to end of 2018
    on 2017-11-30 at 19:32[OPEC/M] Brent crude, the global benchmark, was down $1.03 at $55.76 a barrel at 1140 GMT. “I think it’s going to be a struggle to move above $60 Brent,” said Olivier Jakob, oil analyst at Petromatrix. … Benchmark Brent crude traded up 1.1 percent at $63.80 a barrel at 4:21 p.m. in London. For Russia … […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • Natural gas production in Bakken region increases at a faster rate than oil production
    by hellenicshippingnews.. on 2017-11-30 at 22:00In North Dakota’s Bakken region, the ratio of natural gas production relative to crude oil, known as the gas-oil ratio, has been gradually increasing since 2008 and has increased at a faster rate since 2014. More than 90% of North Dakota’s crude oil and natural gas production comes from the Bakken region, which includes the … […]

  • Gazprom’s Profits on the Rise
    by hellenicshippingnews.. on 2017-11-30 at 22:00Yesterday PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the nine months ended September 30, 2017. The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the nine […]

  • Qatar’s new LNG giant to start operations Jan. 1 -industry sources
    by hellenicshippingnews.. on 2017-11-30 at 22:00Qatar Petroleum’s merger of liquefied natural gas (LNG) producers Qatargas and RasGas will take effect on Jan. 1 when the combined entity will commence operations, industry sources said on Thursday, citing an internal company memo. In an email inviting staff to a convention at the Sheraton in Doha on Dec. 6, Qatargas Chief Executive Khalid … […]

  • Cheniere to stop releasing US LNG contract details
    by hellenicshippingnews.. on 2017-11-29 at 22:00Leading US LNG exporter Cheniere Energy will stop disclosing details of its future customer contracts after several years of revealing the data. Houston-based Cheniere started exporting in February 2016 from its $20bn Sabine Pass LNG terminal in Louisiana and is building another $11bn export facility in Corpus Christi, Texas. Previously it publicly disclosed all the … […]

  • LPG Market to Rebalance
    by hellenicshippingnews.. on 2017-11-29 at 10:00The end is in sight for the run on global LPG stocks, according to ESAI Energy’s recently published Global LPG One-Year Outlook. In 2018, the geographically widespread growth of LPG production from fractionation will gradually begin to pull the market out of deficit. Year-on-year declines in global LPG stocks have continued into the fourth quarter … […]

  • Thai Oil’s refinery to produce only clean fuels from 2022
    by hellenicshippingnews.. on 2017-11-28 at 22:00Thailand’s largest refiner Thai Oil PCL will stop producing fuel oil from 2022 once it completes a $4-billion upgrade that will boost output of clean fuels, officials said. The project is part of a growing trend among global refiners to produce more high-quality oil products instead of the heavy polluting fuel oil. Shippers, the biggest … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Oil prices rise after OPEC extends output curbs
    by hellenicshippingnews.. on 2017-12-01 at 10:00Oil prices edged higher on Friday, a day after OPEC and other major producers agreed to extend output curbs until the end of 2018 in a bid to tackle global oversupply and bolster prices. The Organization of the Petroleum Exporting Countries and some non-OPEC producers led by Russia agreed on Thursday to keep current limits … […]

  • OPEC deal calls on Libya, Nigeria to produce below 2.8 mil b/d combined: Iran’s Zanganeh
    by hellenicshippingnews.. on 2017-12-01 at 10:00OPEC ministers agreed to a nine-month extension of their production cut agreement through the end of 2018, and will call on Libya and Nigeria not to exceed a combined output of 2.8 million b/d, Iranian oil minister Bijan Zanganeh told reporters. “We decided to roll over the past decision to the end of 2018, and … […]

  • Average oil price in 2018 to grow to $56 — World Bank
    by hellenicshippingnews.. on 2017-12-01 at 10:00Amid strong demand for oil and a reduction of its production in the OPEC+ countries, the World Bank forecasts an increase of the average price of a barrel of oil in 2018 to $56 from $53, the World Bank said in its Russian Economic Report released on Wednesday. “Oil prices are expected to average $53/bbl … […]

  • OPEC agrees oil cut extension to end of 2018
    by hellenicshippingnews.. on 2017-11-30 at 22:00OPEC agreed on Thursday to extend oil output cuts until the end of 2018 as it tries to finish clearing a global glut of crude while signalling it could exit the deal earlier if the market overheats. Non-OPEC Russia, which this year reduced production significantly with OPEC for the first time, has been pushing for … […]

  • Lukoil Announces Consolidated Ifrs Results For The Third Quarter And Nine Months Of 2017
    by hellenicshippingnews.. on 2017-11-30 at 22:00PJSC LUKOIL yesterday released its condensed interim consolidated financial statements as of and for the three and nine months ended 30 September 2017 prepared in accordance with International Financial Reporting Standards (IFRS). For the first nine months of 2017 our sales increased by 11.7% year-on-year to 4,274.3 bln RUB. The growth was mainly driven by … […]

  • Russia is aligned with OPEC on extending output cuts, Nigerian oil minister says
    by hellenicshippingnews.. on 2017-11-30 at 22:00Nigeria’s energy minister insisted that OPEC and Russia are in agreement on extending oil production cuts, even as the market sold off on uncertainty over the nearly one-year-old deal. Oil prices fell sharply at midday on Wednesday after energy ministers sent mixed signals about extending an agreement that has kept about 1.8 million barrels a … […]

Oil & Gas Financial Journal

  • How sustainable is Permian tight oil growth?
    on 2017-11-23 at 07:45Technology has played a huge role in the rapid rise of production in the Permian Basin. Operators are bullish on the region’s long-term potential and poised to exploit the Permian at an unparalleled pace over the next few years. However, according to a report by Wood Mackenzie, geological constraints that may arise as the play is aggressively developed could lead to production shortfalls, and in […]

  • Revenue, income a mixed bag in 2Q
    on 2017-11-23 at 07:36Financial results for the OGJ150 group of companies were lukewarm by most measures in the second quarter of 2017. However, given the lengthy downturn that the oil and gas industry is emerging from, maybe “neither hot nor cold” isn’t so bad. […]

  • The BBA rules are coming
    on 2017-11-23 at 06:41The upcoming New Year may present some nasty surprises to oil and gas partnerships that have not prepared for the new partnership tax audit rules. […]

  • Fighting bribery and corruption
    on 2017-11-23 at 06:36Targeted analytics are an effective instrument in the battle against bribery and corruption at energy firms […]

  • Weathering the storm
    on 2017-11-23 at 06:33During a natural disaster, you need supply options. Ensuring that you have allocations and truck time to supply your customers can be the difference between keeping or losing a long-time valued business relationship. It is during tight supply times, like we saw recently with hurricanes Harvey and Irma, that you should have a contingency plan in place to secure the fuel you need. […]

  • Exports are changing crude oil logistics
    on 2017-11-23 at 06:30While there are complexities associated with Midcontinent oil logistics, there are solutions that can help your organization complete an export logistics puzzle. […]

The Barrel

  • High days and holidays for US crude flows
    by John-Laurent Tronche on 2017-11-30 at 05:01The floodgates have opened. The game has changed. The possibilities are endless. This is the worst — absolutely. Choose any of those expressions or phrases to explain some aspect of the global oil market — a market featuring US exports, OPEC cuts, an improving world economy, yet declining oil demand long-term. For US oil producers […] The post High days and holidays for US […]

  • Competition heats up in Chinese thermal coal import market
    by Michael Cooper on 2017-11-29 at 06:19Indonesian mid-CV thermal coal appears to be getting the upper hand over high-ash Australian coal in a battle for supremacy in the Chinese imports market, according to an analysis of S&P Global Platts price data. FOB prices for Australian high-ash 5,500 kcal/kg NAR thermal coal which is mainly sold to China have slowly retreated to […] The post Competition heats up in Chinese thermal […]

  • Venezuelan crude imports into LOOP tripled on year: In The LOOP
    by Maria Eugenia Garcia on 2017-11-28 at 08:38Imports of Venezuelan crude into the Louisiana Offshore Oil Port have totaled over 7 million barrels from January to November this year, almost three times the 2.5 million barrels in the same period of 2016, according to US Customs data. The dramatic climb came despite the Trump administration’s threats to ban Venezuelan crude imports into […] The post Venezuelan crude imports into […]

  • Why Tesla’s e-truck matters
    by Ross McCracken on 2017-11-27 at 12:56E-trucks matter because growth in commercial transportation is a key factor expected to keep the oil market on a low but steady growth path out to 2040 and beyond, at least according to most long-term outlooks. If commercial transportation can adopt electrification, it would result oil demand peaking much earlier than most forecasts currently suggest […] The post Why Tesla’s e-truck […]

  • Struggling UK SMR competition seeks to regain momentum
    by Oliver Adelman on 2017-11-24 at 11:00The UK government’s much heralded, pre-Brexit referendum “competition” to have a small modular reactor or SMR design manufactured in the country by the mid-2020s is struggling to regain momentum amid growing questions about the political will to proceed with the project. The idea of a “competition” to select an SMR design was announced by then […] The post […]

  • Blockchain was hyped for a long time. Now they’re getting down to business
    by John Kingston on 2017-11-21 at 15:30It’s getting near time. It’s getting near time for all the talk of adopting blockchain’s distributed ledger technology (DLT) in energy markets to transform itself into some real-life applications. That was an overriding theme at S&P Global Platts first-ever Digital Commodities Summit in London in mid-November, a packed-house event that will be followed by one […] The […]

Energy and Capital

  • Invest Ahead of the Scramble for Cobalt
    by Luke Burgess on 2017-11-30 at 08:00This key material is essentially what makes rechargeable lithium-ion batteries rechargeable. But now EV manufacturers are being forced to scramble for new supplies, creating a big opportunity for investors. […]

  • China: Tesla’s Saving Grace
    by Keith Kohl on 2017-11-29 at 08:00Elon Musk and Tesla could be in serious trouble. The fate of their well-being may depend on an unlikely savior, China. Energy and Capital editor Keith Kohl breaks down Tesla’s China syndrome… […]

  • Renewable Energy Investing for 2018
    by Jeff Siegel on 2017-11-28 at 08:00In 2018, renewable energy investors should focus on energy storage stocks. Energy and Capital editor Jeff Siegel breaks down the renewable sector for the upcoming year… […]

  • Bitcoin to $10,000
    by Christian DeHaemer on 2017-11-27 at 08:00BTC has appreciated by 8.24% in the last 24 hours and is up more than 800% on a year-to-date basis. Is the top in sight? […]

  • The Future of Electric Vehicles
    by Jeff Siegel on 2017-11-24 at 08:00The future of transportation is electric and autonomous. Energy and Capital editor Jeff Siegel explains how to invest in the future instead of the present. […]

  • Cobalt Demand to Soar +4,500% by 2030
    by Luke Burgess on 2017-11-23 at 08:00There are a few critical metals other than lithium needed to create lithium-ion rechargeable batteries that are very often overlooked. And among them is one that might be a better investment than lithium itself. […]

Energy Business Review – Exploration & Development

Energy Business Review – Drilling & Production

Oil & Gas iQ

  • Exploring the next steps for the LNG bunkering market
    by Oil & Gas IQ Events on 2017-12-01 at 12:48LNG consistently outperforms traditional maritime fuels on a local emissions basis and in greenhouse gas performance. In a sector which currently makes up 2.2 per cent of global emissions, pressure is mounting on the maritime industry to adopt more environmentally friendly fuels and the widespread […]

  • Optimising Europe's first LNG bunker vessel
    by Oil & Gas IQ Events on 2017-12-01 at 12:48The new Gate LNG Terminal in the Port of Rotterdam supplies a network of natural gas pipelines, and has facilities to reload LNG into ships, LNG containers or tank trucks. This allows the liquefied natural gas to be distributed by inland tanker, short sea tanker or truck to areas that lack […]

  • Promoting LNG as the fuel of the future
    by Oil & Gas IQ Events on 2017-12-01 at 12:48The continuing oil price volatility has impacted many fuel-dependent markets over the past few years. Bunkering with liquefied natural gas (LNG) has been one of the areas affected by the drop in conventional fuel in the maritime industry. Ahead of the LNG Bunkering Summit 2018, we surveyed over 500 […]

  • Digital transformation: changing the way we operate
    by Phil Murray on 2017-12-01 at 12:48Phil Murray, CEO of Petrotechnics, believes digitalisation in the oil and gas industry is about “enabling everyone to make better operational decisions” while balancing risk, productivity and cost.Here, he explains why it is imperative to connect smart people with smart devices for smart decisions […]

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