Commodities: Oil & Gas – Featured Headlines


TODAY’S CURATED LIST OF HEADLINES

06-12-2017


Various PDVSA News

PennEnergy Oil Exploration & Production News

  • Oil and Gas: Saudi oil minister talks of strengthening ties on Iraq visit
    on 2017-12-06 at 00:00In the latest sign of improving relations between Iraq and Saudi Arabia, the kingdom’s oil minister attended an energy conference in the southern Iraqi port city of Basra on Tuesday. […]

  • Oil and Gas: Ecuador to pay $337 million to ConocoPhillips subsidiary
    on 2017-12-06 at 00:00Ecuador has agreed to pay $337 million to ConocoPhillips-subsidiary Burlington Resources five years after a ruling that the South American nation illegally expropriated valuable oil assets. […]

  • Chinese firm rescinds AWE takeover offer
    on 2017-12-05 at 18:51China National Petroleum Corp. subsidiary China Energy Reserve & Chemical Group has withdrawn its $430-million (Aus.) takeover bid for AWE Ltd. The unsolicited offer, made last week, proposed 71¢/share for the Australian resource company, a 30% premium on its trading price at that time.&nbs […]

  • Shell issues LoI for Vito semisubmersible FPU
    on 2017-12-05 at 18:45Sembcorp Marine Rigs & Floaters Pte. Ltd. has signed a letter of intent with Shell Offshore Inc. for the construction of the hull and topsides and the integration of the Vito floating production unit in the deepwater Gulf of Mexico. […]

  • Dana Petroleum brings Western Isles development on stream
    on 2017-12-05 at 17:58Dana Petroleum Ltd. has brought its Western Isles development on stream in the UK North Sea after project partners invested about $2 billion on the project involving Harris and Barra oil fields in 540 ft of water nearly 100 miles east of the Shetlands. […]

  • Oil and Gas: Emerson completes Paradigm acquisition
    on 2017-12-05 at 00:15Emerson has completed the purchase of Paradigm, a leading provider of software solutions to the oil and gas industry. […]

  • Oil and Gas: Venezuela arrests cousin of ex-oil czar in corruption probe
    on 2017-12-05 at 00:00A cousin of former Venezuelan oil czar Rafael Ramirez was arrested in an investigation into a series of accounts in an Andorran bank suspected of being used to launder about $1.6 billion in corrupt funds, the chief prosecutor announced Friday. […]

  • ExxonMobil signs PSCs for blocks offshore Mauritania
    on 2017-12-04 at 18:38ExxonMobil Exploration & Production Mauritania Deepwater Ltd. will begin seismic data acquisition and exploration analysis as operator with 90% interest of three deepwater blocks offshore Mauritania following government approval of production-sharing contracts signed with that country’s government. […]

  • Total, Sonangol green-light Zinia 2 tieback offshore Angola
    on 2017-12-04 at 18:24Total and Sonangol have signed agreements for two new upstream projects offshore Angola. […]

  • ExxonMobil secures three ultra-deep blocks offshore Mauritania
    on 2017-12-04 at 18:10ExxonMobil Exploration and Production Mauritania Deepwater has signed production-sharing contracts with Mauritania’s government for three deepwater offshore blocks. […]

Oil & Gas Journal

  • DUC okays Tyra redevelopment off Denmark
    on 2017-12-05 at 21:33Continuation of production from Tyra natural gas field in the Danish North Sea has been assured with approval by the Danish Underground Consortium of a $3.34-billion redevelopment plan. Maersk Oil, the operator, had planned to shut in the field in October 2018 until the consortium proposed redevelopment in March. […]

  • Statoil submits development plan for Johan Castberg project
    on 2017-12-05 at 19:29Statoil ASA has submitted a plan for the development and operation (PDO) of its Johan Castberg project offshore Norway to Norwegian authorities, and said recoverable resources are estimated at 450-650 MMboe. […]

  • Sinopec lets contracts for alkylation units
    on 2017-12-05 at 19:04China Petrochemical Corp. (Sinopec) has let a contract to a division of E.I. DuPont de Nemours & Co. for delivery of grassroots alkylation units to an additional two of its subsidiaries’ refineries in China.&nbs […]

  • Chinese firm rescinds AWE takeover offer
    on 2017-12-05 at 18:51China National Petroleum Corp. subsidiary China Energy Reserve & Chemical Group has withdrawn its $430-million (Aus.) takeover bid for AWE Ltd. The unsolicited offer, made last week, proposed 71¢/share for the Australian resource company, a 30% premium on its trading price at that time.&nbs […]

  • API launches voluntary program to reduce methane, VOC emissions
    on 2017-12-05 at 18:33The American Petroleum Institute launched a voluntary program that initially will concentrate on reducing wellhead emissions of methane and volatile organic compounds, and ultimately will try to improve other environmental conditions at operations across the US. Twenty-six participating companies will begin to implement the program starting Jan. 1, 2018, API said. […]

  • Saskatchewan’s climate plan lacks carbon tax
    on 2017-12-05 at 18:19Saskatchewan has departed from the approaches of neighboring provinces and the government of Canada with a climate-change strategy lacking carbon taxation. Environment Minister Dustin Duncan introduced a plan he called “broader and bolder than a single policy such as a carbon tax.” He said it will “achieve better and more meaningful outcomes over the long term.&rdquo […]

World Oil – US Onshore

Various Oil & Gas News

  • Crude oil futures drop to Rs. 3698 per barrel
    on 2017-12-06 at 06:00Analysts said a weak trend in global markets, where oil prices dropped, mainly led to a fall in crude prices at the futures trade. Meanwhile, West Texas Intermediate (WTI) crude lost 0.42 per cent to $57.38, while Brent crude, the European benchmark, fell 0.38 per cent to $62.62 a barrel at the New York … […]

  • WTI Crude Oil Price Analysis for Dec 6, 2017
    on 2017-12-06 at 05:03WTI crude oil remains in consolidation mode, forming lower highs and finding support around $57 per barrel to create a descending triangle pattern. Price has just bounced off support and could be due for a test of resistance at $58 per barrel. The 100 SMA is below the longer-term 200 SMA to signal that … […]

  • Confidence in OPEC Inspires Goldman 2018 Oil Price Forecast and Tuesday Crude Gains
    on 2017-12-06 at 04:30Even though the sincerest commitments have a knack of becoming undone when it comes to Organization of the Petroleum Exporting Countries (OPEC) politics, belief that the cartel will be successful in its output cutback extension helped boot crude prices upward on Tuesday, with West Texas … […]

  • Limited Mexico Isthmus crude exports may bring Asia back to Mideast
    on 2017-12-06 at 03:11A potential decline in Mexico’s exports of Isthmus crude grade in 2018 has raised alarm bells among various Northeast Asian refiners as the companies may have to shift their focus back to … The crude mostly loads from the Russian Black Sea port of Novorossiisk and is priced against Platts Dated Brent. […]

  • US Dollar Underpinned by Optimism Over US Tax Reform
    on 2017-12-06 at 03:00U.S. West Texas Intermediate crude oil and internationally-favored Brent crude oil finished higher on Tuesday on speculation that the American Petroleum Institute (API) and U.S. Energy Information Administration ( EIA ) weekly reports will show a drop in U.S. crude inventories. Traders expect data from … […]

  • Oil dips on rising US fuel stocks, but OPEC’s supply cuts offer support
    on 2017-12-06 at 02:15Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lacklustre demand. US West Texas Intermediate (WTI) crude futures were at $57.37 a barrel at 0132 GMT, down 25 cents, or 0.4 per cent, from their last settlement. […]

  • Bloomberg: Oil dips as industry data shows surprise US gasoline build
    on 2017-12-06 at 00:33Bank of America Merrill Lynch estimated the global benchmark, Brent crude, will rise to $70 a barrel by the middle of 2018. “If you extend the production-cut agreement through the end of 2018, that surplus will basically erode away, which will be a good thing for oil prices in the long-term,” Rob Thummel, … […]

  • Crude Oil Mostly Steady In Asia After API Estimates, Risks Monitored
    on 2017-12-06 at 00:11On the New York Mercantile Exchange crude futures for January delivery rose 0.02% to $57.48 a barrel, while on London’s Intercontinental Exchange, Brent was flat at $62.66 a barrel. The American Petroleum Institute (API) reported on Tuesday that US crude stocks fell by 5.481 million barrels, more … […]

  • The Best-Performing Upstream Stock Year-to-Date
    on 2017-12-05 at 22:41Despite lower production, WTI’s revenue growth was driven by the year-over-year higher realizations for crude oil and natural gas prices. In 9M17, WTI’s production fell ~5.0% to ~11.1 MMBoe (million barrels of oil equivalent) compared with its 9M16 production of ~11.7 MMBoe. However, WTI’s total … […]

  • WTI retraces daily gains post-API data, trades flat near mid-$57s
    on 2017-12-05 at 21:56According to the American Petroleum Institute’s weekly report, crude oil stocks in the United States decreased by 5.5 million barrels for the week ending December 1. Although a drawdown in the U.S. inventory usually boosts crude oil prices, the fact that refinery crude runs rose by 46,000 barrels on a … […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • China’s natural gas push is too successful, creates price dilemma: Russell
    by hellenicshippingnews.. on 2017-12-06 at 10:00China’s push to use more natural gas over winter in a bid to cut air pollution is running into the harsh realities of rising prices and limited supplies of the cleaner fuel. In a signal of what may become more government intervention in the natural gas market, China’s state planner ordered eight regions to meet … […]

  • Natural gas power generation share grew in Southern states for a decade as coal declined
    by hellenicshippingnews.. on 2017-12-05 at 22:00Coal’s share of total electricity generation in the South declined over the past decade, from 50% in 2006 to 29% in 2016. As the use of coal has declined, the use of natural gas has increased. In 2016, southern states used natural gas for 42% of their electricity generation, a bigger share than the U.S. … […]

  • Philippines aims to issue permit for $2 billion LNG facility in 2018
    by hellenicshippingnews.. on 2017-12-05 at 22:00The Philippines is aiming to next year award the permit to build and operate the country’s first facility for receiving and distributing liquefied natural gas, its energy secretary said on Tuesday. The project, estimated to cost $2 billion, comes as the Southeast Asian nation seeks to replace depleting local gas reserves that now produce around … […]

  • How Trump Did the Impossible: Getting Solar and Oil Lobbyists to Unite
    by hellenicshippingnews.. on 2017-12-05 at 22:00In his 20 years of promoting renewable energy in Washington, Gregory Wetstone has made common cause with a range of special interest groups:- environmentalists, power utilities, even a handful of natural gas producers. But President Donald Trump’s efforts to bail out the coal industry led Wetstone, the head of the American Council on Renewable Energy, … […]

  • Russia’s Yamal LNG plant commences production
    by hellenicshippingnews.. on 2017-12-05 at 22:00Russia’s Novatek said on Tuesday its Yamal liquefied natural gas plant commenced LNG production with the aim of shipping the first cargo on Dec. 8 from the Arctic port of Sabetta. The project is co-owned by France’s Total, and China’s CNPC and the Silk Road Fund. Source: Reuters (writing by Denis Pinchuk; Editing by Christian … […]

  • Appalachia region drives growth in U.S. natural gas production since 2012
    by hellenicshippingnews.. on 2017-12-05 at 18:00Shale gas production in the Appalachia region has increased rapidly since 2012, driving an overall increase in U.S. natural gas production. According to EIA’s Drilling Productivity Report, natural gas production in the Appalachia region—namely the Marcellus and Utica shale plays—has increased by more than 14 billion cubic feet per day (Bcf/d) since 2012. Overall Appalachian … […]

Hellenic Shipping News Worldwide – Oil & Companies News

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

  • Energy commodity prices start to pick up late in Trump’s first year: Of Presidents and Prices
    by Joseph Innace on 2017-12-06 at 05:01For the first time since Donald Trump was inaugurated president, more of the benchmark commodity prices tracked by S&P Global Platts since he took office are now slightly higher than when President Obama left. Until November, most prices had struggled to see their averages match — or surpass — the levels on the last day […] The post Energy commodity prices start to pick up […]

  • US oil pipelines might rethink affiliate discounts: Fuel for Thought
    by Meghan Gordon on 2017-12-05 at 20:31US oil pipeline companies were calling their lawyers in Washington last week after regulators said a practice that has apparently become commonplace in the industry violates federal law. The order by the Federal Energy Regulatory Commission involves marketing affiliates of pipelines that buy space on the parent company’s system and then resell it — sometimes […] The post US oil […]

  • LOOP Sour becomes lighter, sweeter for November: In the LOOP
    by Mary Hogan on 2017-12-05 at 05:01The US crude blend LOOP Sour was lighter and sweeter in November, even as the Louisiana Offshore Oil Port saw increased imports of Iraqi Basrah Light and Kuwaiti crude oil. The oil terminal allocates one of its eight underground caverns to a medium sour blend comprised of US Gulf of Mexico grades Mars and Poseidon […] The post LOOP Sour becomes lighter, sweeter for November: In the LOOP […]

  • 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 […]

Energy and Capital

  • All Hell Breaks Loose for Tesla
    by Keith Kohl on 2017-12-05 at 08:00I told you a while back that Elon Musk was scared to death that this cobalt story would start getting more attention and leak. It appears the first cracks are forming… […]

  • Investing in the Wal-Mart of Weed
    by Jeff Siegel on 2017-12-04 at 08:00It’s the biggest cannabis player in the space. Some have actually called it the Wal-Mart of Weed! […]

  • 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… […]

Energy Business Review – Exploration & Development

  • Prospex Oil And Gas reports positive log results at Podere Maiar-1 well in Italy
    on 2017-12-06 at 00:00Prospex Oil and Gas has been advised by the operator, Po Valley Energy (PVE), that positive log results indicate the presence of a gas bearing reservoir at the Podere Maiar-1d appraisal/redevelopment well on the Podere Gallina Exploration Permit in the Po Valley region of Italy. […]

  • African Petroleum secures Sierra Leone licence extensions
    on 2017-12-05 at 00:00African Petroleum reports that its wholly owned subsidiaries European Hydrocarbon and African Petroleum Sierra Leone have signed agreements with the Petroleum Directorate Sierra Leone to enter into the Second Extension Periods of the SL-03 and SL-4A-10 licences respectively and to modify the work programmes for both licences during these periods. […]

  • Beach Energy secures new GSAs for Western Flank acreage
    on 2017-12-05 at 00:00Beach Energy has executed new gas sales agreements (GSAs) with Adelaide Brighton Cement, a wholly owned subsidiary of Adelaide Brighton, and Alinta Energy Retail Sales for the supply ex-Moomba of processed sales gas from Beach’s 100% owned Western Flank Cooper Basin gas acreage. […]

  • Magseis awarded contract extension for additional OBS survey in Red Sea
    on 2017-12-05 at 00:00Magseis has together with is partner, BGP, been awarded an extension to the ongoing contract with BGP Arabia and Saudi Aramco to acquire additional ocean bottom seismic data in the Red Sea. […]

  • Greenfields Petroleum to partner with SOCAR to drill deep gas wells in Bahar gas field
    on 2017-12-04 at 00:00Bahar Energy Operating Company (BEOC), a wholly owned subsidiary of Greenfields, has executed an exclusive memorandum of understanding (MOU) with SOCAR Complex Drilling Works Trust (SDT), a subsidiary of the State Oil Company of the Republic of Azerbaijan (SOCAR), to formalize a partnership for the drilling of deep gas wells in the Bahar gas field offshore Azerbaijan. […]

  • Elnusa completes 3D marine seismic project In Indonesia
    on 2017-12-04 at 00:00Elnusa, an energy services company, has completed the project of 3D Marine Seismic with client Talisman Andaman, in Andaman Sea, Aceh. […]

Energy Business Review – Drilling & Production

  • Prospex Oil And Gas reports positive log results at Podere Maiar-1 well in Italy
    on 2017-12-06 at 00:00Prospex Oil and Gas has been advised by the operator, Po Valley Energy (PVE), that positive log results indicate the presence of a gas bearing reservoir at the Podere Maiar-1d appraisal/redevelopment well on the Podere Gallina Exploration Permit in the Po Valley region of Italy. […]

  • Statoil submits development and operation plan for Johan Castberg project
    on 2017-12-05 at 00:00Statoil has submitted plan for development and operation (PDO) for the NOK49bn ($5.91bn) Johan Castberg project in the Norwegian Barents Sea and has also awarded a $480m contract to Aker Solutions. […]

  • African Petroleum secures Sierra Leone licence extensions
    on 2017-12-05 at 00:00African Petroleum reports that its wholly owned subsidiaries European Hydrocarbon and African Petroleum Sierra Leone have signed agreements with the Petroleum Directorate Sierra Leone to enter into the Second Extension Periods of the SL-03 and SL-4A-10 licences respectively and to modify the work programmes for both licences during these periods. […]

  • Magseis awarded contract extension for additional OBS survey in Red Sea
    on 2017-12-05 at 00:00Magseis has together with is partner, BGP, been awarded an extension to the ongoing contract with BGP Arabia and Saudi Aramco to acquire additional ocean bottom seismic data in the Red Sea. […]

  • Beach Energy secures new GSAs for Western Flank acreage
    on 2017-12-05 at 00:00Beach Energy has executed new gas sales agreements (GSAs) with Adelaide Brighton Cement, a wholly owned subsidiary of Adelaide Brighton, and Alinta Energy Retail Sales for the supply ex-Moomba of processed sales gas from Beach’s 100% owned Western Flank Cooper Basin gas acreage. […]

  • Total, Sonangol sign deals for new upstream and downstream projects in Angola
    on 2017-12-05 at 00:00French oil and gas major Total and Angola’s national oil company Sonangol have signed various agreements covering upstream and downstream activities in the Southern African country. […]

Oil & Gas iQ

  • Exploring the next steps for the LNG bunkering market
    by Oil & Gas IQ Events on 2017-12-06 at 14:30LNG 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 2017-12-06 at 14:30The 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 2017-12-06 at 14:30The 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 2017-12-06 at 14:30Phil 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 […]

Arabian Oil And Gas  – News

US Department of Energy – Press Releases and Techlines

Business Standard – Commodities | Oil & Gas