Commodities: Oil & Gas – Featured Headlines



Various PDVSA News

  • Venezuela to launch oil-backed cryptocurrency: Maduro
    on 2017-12-04 at 00:45Washington has levied sanctions against Venezuelan officials, PDVSA executives and the country’s debt issuance. According to Reuters sources, compliance departments have been scrutinizing transactions linked to Venezuela, which has slowed some bond payments and complicated certain oil … […]

  • Alí Rodríguez Araque es incorporado a Pdvsa como presidente honorario
    on 2017-12-04 at 00:20El presidente de la República, Nicolás Maduro, anunció que este sábado Alí Rodríguez Araque se integró como presidente honorífico de la junta directiva de Pdvsa. “Alí Rodríguez Araque se incorporó … […]

  • Venezuela to make digital currency amid financing crisis
    on 2017-12-03 at 23:56The news comes as Venezuela faces acute financing problems after creditors and ratings agencies declared the government and the state run oil firm PDVSA to be in partial default for missing interest and principle payments on bonds. Maduro has blamed those problems on sanctions imposed by the … […]

  • Venezuela to create digital currency amid financing crisis
    on 2017-12-03 at 23:37Maduro blames those problems on sanctions imposed by the United States in August, barring American citizens and companies from buying any new Venezuelan government or PDVSA bonds. Venezuela is mired in a deep economic crisis triggered mainly by a fall in crude oil prices and a drop in oil … […]

  • Venezuela PDVSA boss says oil contracts to be reviewed in graft probe
    on 2017-12-03 at 23:16 CARACAS: The new president of Venezuelan state oil company, Major General Manuel Quevedo, said on Sunday that oil service contracts would be reviewed as part of … […]

  • Venezuela Plans to Create Cryptocurrency System to Overcome Financial Blockade
    on 2017-12-03 at 22:41In August, the United States imposed sweeping financial sanctions on Venezuela, forbidding US businesses from lending to the Venezuelan government or the state-run oil and gas company PDVSA. The sanctions also cut into the dividends that PDVSA’s US subsidiary Citgo may send back to … […]

  • Amid Worsening Financial Crisis, Venezuela To Launch Cryptocurrency Backed By Oil And …
    on 2017-12-03 at 22:30The development comes in at a time when Venezuela is facing acute financial problems after rating agencies and creditors declared the government and its state-run oil firm PDVSA to be partially defaulting on missing interest and principle payments on various bonds. Maduro has blamed the country’s … […]


  • Venezuela Maduro gains control over oil contracts amid purge
    on 2017-12-03 at 21:46A months-long crackdown on alleged graft in Venezuela’s oil industry has led to the arrest of some 65 former executives, including two prominent officials who used to lead both the oil ministry and state oil company PDVSA. Corruption has long plagued Venezuela, home to the world’s biggest crude … […]

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • Compromise compromised
    on 2017-12-04 at 07:26Rachel Notley took office negotiating and 2 years on fights to keep it. The grand compromise by which the Alberta premier and her New Democratic Party hoped to accommodate both energy development and climate mitigation isn’t working. Climate activists win or lose; they don’t compromise. […]

  • Remembering Bob Biolchini
    on 2017-12-04 at 07:20Robert F. “Bob” Biolchini, long-time Tulsa attorney, president and chief executive officer of PennWell Corp., and owner of several banks in northeastern Oklahoma and Wyoming, died Nov. 8 in Jackson Hole, Wyo. He was 78. […]

  • OGJ Newsletter
    on 2017-12-04 at 06:32[…]

  • ExxonMobil to merge R&M divisions, appoints president
    on 2017-12-01 at 22:16ExxonMobil Corp. reported it will combine its refining and marketing operations into a single company—ExxonMobil Fuels & Lubricants Co.—in first-quarter 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Co., was appointed president of the combined division by the company’s board, effective Jan. 1, 2018. […]

  • GCC balancing financial strain, Qatari quarrel
    on 2017-12-01 at 21:51Financial pressure might keep the Gulf Cooperation Council together. […]

  • Total wraps Antwerp refinery modernization
    on 2017-12-01 at 19:50Total SA has commissioned several units as part of a more than €1-billion modernization of its 338,000-b/d Antwerp refining and petrochemical complex. Startup of the units completes the modernization program first announced in 2013, which aimed to further improve competitiveness of the site, Total said.&nbs […]

World Oil – US Onshore

Various Oil & Gas News

  • Oil Price Fundamental Daily Forecast – Pressured Early by US Shale Drillers Rig Increase
    on 2017-12-04 at 07:30U.S. West Texas Intermediate and international-benchmark Brent crude oil are trading lower early Monday in reaction to the news that U.S. shale drillers added more rigs last week. Despite the weakness, the markets remain inside Friday’s range, just slightly below their highest levels since mid-2015. […]

  • Oil falls below $58 as ring count counters opec curbs extension
    on 2017-12-04 at 07:18Money managers have increased their bullish ICE Brent crude oil bets by 11 739 net-long positions to 537 979, the most bullish level in three weeks, the weekly ICE Futures Europe data on futures and options show. Citigroup remains bearish 2019 with a forecast of about $49 a barrel for Brent as Opec, … […]

  • US crude surges 1.7% after OPEC extends output cuts
    on 2017-12-04 at 07:06U.S. West Texas Intermediate crude ended Friday’s trading session 96 cents, or 1.7%, higher at $58.36 per barrel, but finished the week 1% lower, Reuters reported. Brent crude was trading at $63.67/Bbl, up $1.04, or 1.7% on the day. For the week, the contract was down nearly a half-percent, Kallanish … […]

  • Crude oil futures fall Rs 26 on weak global cues
    on 2017-12-04 at 06:00Crude oil futures eased by Rs 26 to Rs 3,736 per barrel today as speculators reduced their positions amid a weakening trend overseas. … The West Texas Intermediate (WTI) crude lost 21 per cents, or 0.3 per cent, at USD 58.15, while Brent crude, the international benchmark, fell 22 cents, or 0.4 per … […]

  • WTI Crude Oil Price Analysis for Dec 4, 2017
    on 2017-12-04 at 04:41WTI crude oil appears to have completed its pullback and is resuming the climb. Price bounced off the $57 per barrel level after forming a small double bottom formation. Price is retesting the broken neckline around $58 per barrel, though, and holding as support could allow it to recover to the nearby … […]

  • US tax plan lifts dollar and sets up strong European stocks open
    on 2017-12-04 at 02:58Brent crude, the global benchmark, was off 0.6 per cent at $63.37 a barrel. US marker West Texas Intermediate was down 0.7 per cent at $57.94. The cryptocurrency bitcoin was up 1.5 per cent at $11,430, steadying after recovering from a dip to around $10,400 in early morning trading. Gold was off 0.5 … […]

  • Global crude oil prices fall after US shale drillers add more rigs
    on 2017-12-04 at 02:37US West Texas Intermediate was down 21 cents, or 0.3 per cent, at $58.15 a barrel at 0112 GMT. Brent … Drillers were encouraged as crude prices started recovering from a two-year price crash around the same time the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC … […]

  • Australian Market Flat In Choppy Trade
    on 2017-12-04 at 01:18Oil stocks are also higher as crude oil prices jumped on Friday. Woodside … Crude oil futures rallied Friday after OPEC producers voted to extend supply cuts through 2018. WTI crude for January delivery jumped $0.96 or 1.7 percent to close at $58.36 a barrel on the New York Mercantile Exchange. […]

  • Dollar gains on US tax cut progress; Asian shares listless
    on 2017-12-04 at 00:07In commodity markets, U.S. crude CLc1 was off 37 cents at $57.99. Brent blend crude LCOc1 slipped 35 cents to $63.38, drifting away from a near 2-1/2 year peak of $64.65 touched last month. Spot gold XAU= was off 0.4 percent to $1,275.15 an ounce. Reporting by Swati Pandey; Editing by Eric Meijer. […]

  • OPEC Production Cuts Stirs Oil
    on 2017-12-03 at 20:48In Europe, February Brent crude futures rose $US1.10, or 1.8%, to $US63.73 a barrel, with the new front-month contract up 0.4% for the week. The agreement between OPEC and several non-OPEC countries, including Russia, to cut production by roughly 1.8 million barrels a day from October 2016 … […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • Global LNG demand seen to hit 500mtpa by 2030
    by hellenicshippingnews.. on 2017-12-04 at 10:00Global LNG demand is expected to grow by nearly five percentage points every year, on average, to almost 500 million tonnes per annum (MTPA) by 2030. Projected population growth in developing economies, continuing high rates of urbanisation globally, and an increasingly environmentally conscientious public pushing for more regulations to adopt cleaner fuels in an effort … […]

  • GLOBAL LNG-Asia spot stays near 3-year high for third week
    by hellenicshippingnews.. on 2017-12-03 at 22:00Asian spot liquefied natural gas (LNG) prices were unchanged for a third week as traders converged on Lisbon for a major industry conference, curbing market activity. Spot prices LNG-AS for January delivery were steady at $9.85 per million British thermal units (mmBtu). A combination of factors including purchases by Taiwan and Turkey; below-average temperatures in … […]

  • Speculators cut U.S. natgas net longs to lowest in a year – CFTC
    by hellenicshippingnews.. on 2017-12-03 at 22:00U.S. natural gas speculators cut their net long positions to the lowest level since November 2016 on expectations supplies will be adequate this winter with storage near normal levels, output at record highs and forecasts for another warm winter. Speculators in four major New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE) markets reduced their … […]

  • Egypt’s Zohr gas field to yield 350 mln cubic feet daily by end-2017 -ministry
    by hellenicshippingnews.. on 2017-12-01 at 22:00Egypt’s giant new offshore Zohr gas field in the Mediterranean is set to begin production by year-end and would initially yield 350 million cubic feet per day, the petroleum ministry said on Friday. Production would increase to around 1 billion cubic feet per day by mid-2018, it said. Prime Minister Sherif Ismail said in September … […]

  • Today’s Poor Need More Oil, Natural Gas And Coal
    by hellenicshippingnews.. on 2017-12-01 at 22:00Simply put, the world has no problem greater than energy deprivation and poverty. They shorten human lives by decades. I’m going to use this post to put some horrifically sad numbers to you because ending poverty today is our most critical global goal. I’ve written peer-reviewed journal articles on this stuff and have come to … […]

  • Natural Gas Outlook For 2018
    by hellenicshippingnews.. on 2017-12-01 at 22:00In the previous post – Fear Will Drive Oil Prices In 2018 – I discussed the outlook for oil prices next year. In a nutshell, the price of oil will be influenced by crude oil inventories, which are going to be driven by the balance between OPEC’s actions and U.S. shale oil production. Inventories also … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Oil falls after U.S. drilling picks up
    by hellenicshippingnews.. on 2017-12-04 at 10:00Oil fell on Monday after U.S. shale drillers added more rigs last week, but prices still held close to their highest since mid-2015, supported by an extension to output cuts agreed last week by OPEC and other producers. Drillers in the United States added two oil rigs in the week to Dec. 1, bringing the … […]

  • Crude oil prices will be under pressure in H1 of 2018 despite steady demand
    by hellenicshippingnews.. on 2017-12-04 at 10:00Oil prices are expected to come under some pressure in the first half of 2018. Crude oil prices rose after key Opec ministers expressed a preference for extending crude output cuts until the end of next year. On Thursday, the benchmark US crude was up by 0.7 per cent to $57.69 per barrel on the … […]

  • Thrills but no spills at oil meeting
    by hellenicshippingnews.. on 2017-12-04 at 10:00On Nov. 30 the 14 OPEC member countries and 10 non-member countries extended a deal to take 1.8 million barrels per day (bpd) out of the market. The “Agreement of Cooperation” (the deal) was initially reached in December of last year and has now been renewed for the second time. Markets reacted well. Brent now … […]

  • Hedge Funds Signal Trust in OPEC
    by hellenicshippingnews.. on 2017-12-04 at 10:00Hedge funds are giving Saudi Arabia and Russia a big vote of confidence. As the two oil powerhouses pushed for the extension of supply curbs ahead of Thursday’s OPEC meeting, money managers shifted their stance on West Texas Intermediate crude to the most bullish since February. That’s largely due to a strong decline in short-selling. … […]

  • OPEC, Russia have done their bit, now it’s the turn of U.S., China: Russell
    by hellenicshippingnews.. on 2017-12-03 at 22:00The Organization of the Petroleum Exporting Countries and its allies are taking a multi-layered bet that global oil dynamics will work in their favor by extending their crude oil production cuts until the end of 2018. The group met market expectations by extending the combined 1.8 million barrels per day (bpd) of output cuts from … […]

  • OPEC And Russia Kick Crude Oil Can Down The Road
    by hellenicshippingnews.. on 2017-12-03 at 22:00Predictably OPEC and Russia have kicked the proverbial crude oil can down the road at their latest ministerial summit on Thursday (30 November). In case you haven’t heard, the oil cartel led by Saudi Arabia, and 10 non-OPEC oil producers led by Russia, agreed to extend their collective crude production cut of 1.8 million barrels … […]

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 2017-12-01 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. […]

  • Investing in the U.S. Military’s Worst-Kept Secret
    by Keith Kohl on 2017-12-01 at 08:00Energy and Capital editor Keith Kohl peels back the curtain of the U.S. military’s greatest weakness: its incredible thirst for energy. […]

  • 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. […]

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 2017-12-04 at 13:53LNG 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 2017-12-04 at 13:53The 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 2017-12-04 at 13:53The 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 2017-12-04 at 13:53Phil 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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US Department of Energy – Press Releases and Techlines

Business Standard – Commodities | Oil & Gas