Commodities: Oil & Gas – Featured Headlines



Various PDVSA News

  • Venezuela’s Attorney General: Corruption in Oil Marketing Bureau Cost Nation $4.8bn
    on 2018-01-04 at 01:41Bogota, January 3, 2018 ( – Venezuelan Attorney General Tarek William Saab has revealed that corruption at an international marketing bureau for state oil company PDVSA resulted in USD$4.8 billion losses from the public purse. Speaking last Friday, Saab said that billions had … […]

  • Oil prices near levels last seen in 2014/2015 as market tightens
    on 2018-01-04 at 01:18Image used for illustrative purpose Crude oil drips from a valve at an oil well operated by Venezuela’s state oil company PDVSA in Morichal July 28, 2011. REUTERS/Carlos Garcia Rawlins. Henning Gloystein, Reuters News. SINGAPORE – Oil prices on Thursday remained near levels last seen in late … […]

  • Surprise! PdVSA Chavistas escape Helicoide torture complex… along with their case files!
    on 2018-01-03 at 21:17Unofficial: Two detainees in PdVSA case escaped from SEBIN Jan 3, 2018 3:02 pm translated from Spanish According to information published by the journalist Sebastian Barraez, at least two people arrested for the cases of corruption in PDVSA escaped on Saturday December 30 from El Helicoide. […]

  • US court rules against miner Crystallex in Venezuela dispute
    on 2018-01-03 at 20:00The 3rd U.S. Circuit Court of Appeals accepted the defendant’s request to dismiss the suit because Crystallex’s claim is against Venezuela rather than Citgo, which is owned by Venezuelan state oil company PDVSA. “While we do not condone the debtor’s and the transferor’s actions, we must conclude … […]

  • US court rules against miner Crystallex in Venezuela dispute
    on 2018-01-03 at 19:41Crystallex’s lawsuit had targeted a Delaware-incorporated subsidiary of PDVSA which in turn owns Citgo. It called the transfers a violation of the Delaware Uniform Fraudulent Transfer Act. The case has been closely followed by investors holding Venezuela’s distressed bonds. Some have considered … […]

  • Paraffin Wax Market Report 2023 | Key Players, Growth Opportunities, Price Trend Analysis and …
    on 2018-01-03 at 14:37Paraffin Wax Market Dominating Key Players: – CNPC, Exxon Mobile, Sinopec, Shell, Sasol, LUKOIL, PDVSA, Petrobras, ENI, Cepsa, MOL, Nippon Seiro, IGI, Calumet, Samir, HollyFrontier, Hansen & Rosenthal, And More. In this report, Paraffin Wax market is valued at XX million USD in 2018 and is … […]

  • Wall Street’s Venezuela Bet Rests in Hands of These Seven People
    on 2018-01-03 at 11:03While PDVSA recently settled a multi-year legal dispute with Sinopec, the state oil firm said it did so only to end the controversy, not to accept responsibility for any alleged wrongdoing. Lost financial ties with China would probably trigger a hard default, according to the oil and gas consultancy FGE. […]

  • Fears Venezuela will default on $11.5bn bond debt due this year
    on 2018-01-03 at 05:15Petroleos de Venezuela, the state-owned oil company, recently made $US340.1m in late payments, according to Caracas Capital, and PdVSA bonds are trading at a premium to the country’s sovereign bonds. About 95 per cent of dollars in Venezuela are from sales of oil. But that revenue stream has … […]

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • Gulf Coast Express construction to start
    on 2018-01-03 at 18:30Kinder Morgan Texas Pipeline LLC (KMTP), DCP Midstream LP, and an affiliate of Targa Resources Corp. will build the Gulf Coast Express Pipeline Project (GCX) starting this quarter. […]

  • Enterprise to add train at Orla gas plant
    on 2018-01-03 at 16:41Enterprise Products Partners LP (EPP), Houston, has approved a project that will add 300 MMcfd of capacity at its Orla cryogenic natural gas processing plant under construction near Orla, Tex. […]

  • MARKET WATCH: NYMEX crude oil hovers above $60/bbl
    on 2018-01-03 at 16:35Light, sweet crude oil on the New York market and Brent crude oil on the London market both fell slightly on Jan. 2, but both benchmarks rose in early Jan. 3 trading upon reports of antigovernment protests in Iran. […]

  • Pembina promotes Wiun, Sprott, Taylor, Murphy
    on 2018-01-03 at 16:23Jason Wiun and Jaret Sprott have been promoted to senior vice-president and chief operating officer, Wiun for pipelines and Sprott for facilities, at Pembina Pipeline Corp., Calgary. […]

  • Donnie Moore joins Gulfport Energy as COO
    on 2018-01-03 at 16:15Donnie Moore has joined Gulfport Energy Corp., Oklahoma City, as chief operating officer. […]

  • Garberding named EnLink president, CEO
    on 2018-01-03 at 16:10Michael J. Garberding has been named president and chief executive officer of EnLink Midstream LLC and EnLink Midstream Partners, Dallas. […]

World Oil – US Onshore

  • Andeavor enhances its Permian position through acquisition of Rangeland Energy II
    on 1970-01-01 at 00:00Andeavor has announced that it has agreed to acquire 100% of the equity of Rangeland Energy II, LLC. Rangeland owns and operates assets in the Delaware and Midland basins, including a recently-constructed crude oil pipeline, three crude oil storage terminals and a frac sand storage and truck loading facility. […]

  • U.S. gas market faces long-awaited test as cold spurs demand
    on 1970-01-01 at 00:00A polar blast across the eastern U.S. is proving to be a crucial test for the nation’s natural gas market: Can record demand spurred by the cold outweigh surging production from America’s shale basins, sparking a sustained rally? […]

  • IPAA, Western Energy Alliance applaud repeal of hydraulic fracturing rule
    on 1970-01-01 at 00:00The Independent Petroleum Association of America (IPAA) and Western Energy Alliance today applauded the Department of the Interior’s decision to repeal a costly Obama administration federal rule on hydraulic fracturing. […]

  • Five oil signals to watch as 2018 pits OPEC against shale
    on 1970-01-01 at 00:00Oil traders are going to have their work cut out for them in 2018. OPEC and its allies are heading into the second year of supply cuts to wipe out the global oil glut, while rising U.S. output is threatening those efforts. Geopolitical tensions also add a wild card to the market mix. […]

  • Oil holds gains above $58/bbl as U.S. drillers pause rig expansion
    on 1970-01-01 at 00:00Oil held gains above $58/bbl as trading resumed following the Christmas holiday and after U.S. explorers refrained from adding rigs for a second week. […]

  • America’s hottest oil play just needs a few thousand truckers
    on 1970-01-01 at 00:00When the price of oil collapsed in 2014 and disrupted drilling operations all across Texas’s massive Permian basin shale formation, truckers were among those hardest hit. Rendered unnecessary by the slump in output, they were fired in scores. Now, three years later, with oil prices inching back higher and production in the Permian soaring once again, the drillers want the truckers back. […]

Various Oil & Gas News

  • The global commodities rally could spell trouble for India’s economy
    on 2018-01-04 at 07:18India’s crude basket cost $52.55 a barrel between April and November 2017, compared to $47.56 in the financial year ended March 2017. But as of Jan. 04, Brent crude was trading near $68 a barrel, well beyond the Indian government’s comfort level of below $60. Every $10 per barrel rise in the price … […]

  • Oil prices stoked by both demand and supply scenarios
    on 2018-01-04 at 05:48US West Texas Intermediate (WTI) crude futures were at $62.10 a barrel at 4.45am GMT, up 47c or 0.8% from their last close. They hit $62.14 shortly before, the highest level since May 2015. Brent crude futures — the international benchmark for oil prices — were at $68.13 a barrel, up 29c or 0.4%, after … […]

  • ASX posts small gain on energy’s rally; cannabis minnows soar
    on 2018-01-04 at 05:37The oil market remained tight amid tensions in Iran and ongoing OPEC-led production cuts. US West Texas Intermediate (WTI) crude futures were at $US61.76 a barrel, up 13¢ from their last close and not far off the $US61.97 May 2015 high. Brent crude futures – the international benchmark for oil prices … […]

  • Oil prices hit fresh highs as market tightens
    on 2018-01-04 at 01:36Brent crude futures LCOc1 – the international benchmark for oil prices – were at $68.13 a barrel, up 29 cents, or 0.4 percent, after hitting a May-2015 high of $68.16 shortly before. Beyond a brief intraday spike in May, 2015, these were the highest crude price levels since December, 2014, at the start of … […]

  • Oil prices near levels last seen in 2014/2015 as market tightens
    on 2018-01-04 at 01:18U.S. West Texas Intermediate (WTI) crude futures were at $61.76 a barrel at 0110 GMT, up 13 cents from their last close and not far off the $61.97 May, 2015 high reached the previous day. Brent crude futures – the international benchmark for oil prices – were at $67.82 a barrel, down 2 cents but still not … […]

  • Crude Oil Mixed In Asia With WTI Up After API Estimates
    on 2018-01-04 at 00:56On the New York Mercantile Exchange crude futures for February delivery rose 0.31% to $61.82 a barrel, while on London’s Intercontinental Exchange, Brent eased 0.04% to $67.92 a barrel. The American Petroleum Institute said Wednesday that US crude oil stocks fell 4.992 million barrels last week, … […]

  • Oil at highest in 2½ years on Iran tensions, strong demand
    on 2018-01-04 at 00:11… Opec member Iran and strong economic data from the United States and Germany. US West Texas Intermediate (WTI) crude futures settled at US$61.63 a barrel, up US$1.26, or 2.1 per cent. International benchmark Brent crude futures settled up US$1.27 a barrel, or 1.9 per cent, to US$67.84 a barrel. […]

  • Oil producers higher after crude jumps 2% overnight
    on 2018-01-03 at 23:34Australian oil producers jumped at the open on Thursday after the price of Brent crude traded around its highest levels since 2015 overnight. The S&P/ASX 200 Energy index added as much as 0.9 per cent in early trading on Thursday, reaching its highest since mid 2015. Beach Energy was up 1.6 per … […]

  • Crude Oil ETFs Rally on Strengthening Economy, Iran Concerns
    on 2018-01-03 at 22:52The ongoing economic expansion and supply concerns over Iran, the Organization of Petroleum Exporting Countries’ third largest producer, have helped bolster crude oil exchange traded funds, with West Texas Intermediate crude hitting three year highs. On Wednesday, the United States Oil Fund … […]

  • WTI edges higher toward $62 post-API report
    on 2018-01-03 at 21:56As of writing, the barrel of WTI was trading a few cents above that recent high, gaining 2.6% on the day. According to the latest weekly report released by the American Petroleum Institute, crude oil inventories in the U.S. decreased by 5 million barrels in the week to December 29 to 427.8 million. Experts … […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • Israel’s Oil Refineries to build 135 MW natural gas power plant
    by hellenicshippingnews.. on 2018-01-03 at 22:00Israel’s Oil Refineries (ORL) has received government approval to build a 135 megawatt (MW) natural gas-fueled power station to replace an old coal-fired plant, it said on Wednesday. ORL, Israel’s largest refining and petrochemicals group, said it plans eventually to expand the new station to 340 MW. The company did not disclose financial details of … […]

  • Genscape : Flows Resume on Forties Pipeline System Following Two-Week Outage
    by hellenicshippingnews.. on 2018-01-03 at 22:00Around 400,000 bpd of North Sea production was shut-in for more than two weeks in December 2017 after a crack was discovered in the Forties pipeline. Production from more than 80 North Sea fields, including the prolific Buzzard field, is moved onshore via INEOS’s 1.15mn bpd Forties Pipeline System (FPS). The North Sea production blend, … […]

  • China: Clean energy takes larger share in China’s rust belt
    by hellenicshippingnews.. on 2018-01-03 at 22:00Clean energy last year made up a larger share of the energy mix in Heilongjiang, a province in China’s Northeast rust belt. Clean energy led by wind generated 15 percent of the total electricity in 2017, said the State Grid Heilongjiang Electric Power Company on Jan 3. The share rose by 2.6 percentage points compared … […]

  • Greece sets Feb. 16 bid deadline for DESFA gas grid sale
    by hellenicshippingnews.. on 2018-01-03 at 18:00Greece’s privatisation agency (HRADF) has pushed back to Feb. 16 the deadline to submit binding offers for a 66 percent stake in natural gas grid operator DESFA, sources close to the process said on Wednesday. Interested investors had sought an extension from a previous Dec. 22 deadline, expecting HRADF to give them a new date … […]

  • Qatar’s new LNG merger to save $550 million yearly in operation cost – QP
    by hellenicshippingnews.. on 2018-01-03 at 18:00Qatar Petroleum’s merger of liquefied natural gas (LNG) producers Qatargas and RasGas will save the company two billion riyals ($550 million) annually in operation costs, QP’s chief executive said on Wednesday. The new entity, which is called Qatargas, started operations on Jan. 1. Before the merger, Qatargas and RasGas were already the world’s two biggest … […]

  • Global Gas: Asian LNG testing oil prices
    by hellenicshippingnews.. on 2018-01-03 at 10:00Northeast Asian LNG prices climbed to fresh highs in recent weeks and closed just short of levels that would put them at parity with crude markets. The ANEA front half-month price has peaked in recent winters close to the cost of oil. And a crude market rally in recent months raised this potential price ceiling … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Oil at highest since mid-2015 amid Iran tensions, tighter market
    by hellenicshippingnews.. on 2018-01-04 at 10:00Oil prices on Thursday hit their highest in more than two and a half years, touching levels not seen since before a slump in commodity markets in 2014/15, boosted by tensions in key producer Iran and by ongoing OPEC-led output cuts. Prices were also buoyed by Asia’s stock markets, which flirted with 10-year highs on … […]

  • OPEC Holds Production Steady as Compliance Exceeds Promised Cuts
    by hellenicshippingnews.. on 2018-01-04 at 10:00OPEC’s crude production held steady in December as the group approached a fresh year of output curbs in full compliance with its supply deal. The 14 members of the Organization of Petroleum Exporting Countries pumped 32.47 million barrels a day, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Steady as … […]

  • Oil could hit $80 per barrel by the end of 2018, says portfolio manager
    by hellenicshippingnews.. on 2018-01-04 at 10:00This year could mark a comeback for commodities, with oil potentially hitting $80 per barrel, a portfolio manager said on Wednesday. Restrained production among major oil producers and the “greater impetus” to maintain stability ahead of the widely-anticipated initial public offering of Saudi Aramco will support prices further this year, said Yoon Chou Chong, head … […]

  • OPEC’s focus on stocks risks prices overshooting: Kemp
    by hellenicshippingnews.. on 2018-01-04 at 10:00The Organization of the Petroleum Exporting Countries (OPEC) is sticking doggedly to its plan to cut commercial oil inventories down to the five-year average to rebalance the oil market. But in doing so, the organisation risks tightening the market too much, sending prices sharply higher and encouraging a faster-than-expected acceleration in production from U.S. shale … […]

  • Crude oil prices increased in 2017, and Brent-WTI spread widened
    by hellenicshippingnews.. on 2018-01-03 at 22:00Crude oil prices ended 2017 at $60/barrel (b), the highest end-of-year price since 2013. West Texas Intermediate (WTI) crude oil prices averaged $51/b in 2017, up $7/b from the 2016 average, and ended the year $6/b higher than at the end of 2016. Brent prices have moved up $10/b since the end of 2016 and … […]

  • Russia-China Oil Friendship Makes Crude Costlier for Europe
    by hellenicshippingnews.. on 2018-01-03 at 22:00Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market. As the world’s second-biggest economy buys more, crude shipments from the Baltic Sea port of Primorsk will be cut, according to industry consultant FGE. The reduction will push up the price of varieties … […]

Oil & Gas Financial Journal

  • Energy insurance market in 2017
    on 2018-01-02 at 06:04For the first time in several decades, the energy insurance market cycle has not tracked with a depressed energy market. This year, 2017, will be seen as the year insurance savings came to a grinding halt. […]

  • Wolfcamp shale
    on 2018-01-02 at 05:59Oil and gas production has been on the rise in the Wolfcamp formation of the Permian Basin in recent years, attributable to efficient horizontal drilling and a low cost per barrel, particularly in the Delaware Basin. However, reserve forecast and replacement is an ongoing challenge for oil and gas operators. […]

  • Non-operated JVs
    on 2018-01-02 at 05:56fsdfsddf […]

  • Peak oil demand
    on 2018-01-02 at 05:52The past couple of years have seen a shift from concerns that oil supply would soon peak to a recognition of the potential for oil demand to peak and decline, which would have a significant impact on the value of oil companies’ equities, comparing it to the sharp downdraft in US coal company stocks. Unfortunately, there remain some serious questions and uncertainties that will be addressed in […]

  • Financial restructuring south of the border
    on 2017-12-29 at 22:40Navigating complexities of two legal systems requires some expertis […]

  • Energy capital evolution
    on 2017-12-29 at 22:27Energy Lawyer Buddy Clark talks about the year and what we may see in 2018 […]

The Barrel

  • LOOP Sour becomes heavier, more sour for December: In The LOOP
    by Mary Hogan on 2018-01-04 at 04:20The US crude blend LOOP Sour was heavier and more sour in December, with about 52% of imported barrels consisting of heavy sour grades. In total, LOOP imported fewer barrels month on month of Iraqi Basrah Light and Kuwait Export crude. The oil terminal allocates one of its eight underground caverns to a medium sour blend […] The post LOOP Sour becomes heavier, more sour for December: […]

  • Coal’s future in Asia is far from bleak
    by Deepak Kannan on 2018-01-03 at 07:23The one question that I get asked every other day is “What’s the future of coal in Asia?” Especially after the Paris Climate agreement a couple of years ago, where 196 countries signed a pact to reduce carbon emissions by 2022. No doubt renewable energy capacity additions have picked up pace since then, but is […] The post Coal’s future in Asia is far from bleak […]

  • LME ferrous scrap contract spread to underlying market persists: analysis
    by Pascal Dick and Vaseem Karbhari on 2017-12-22 at 12:00With the London Metal Exchange’s ferrous scrap futures contract clearing a record 500,000 metric tonnes last month, we take a closer look at market fundamentals driving up both physical and forward prices for obsolete scrap in recent weeks. Spot prices for HMS #1&2 80:20 CFR Turkey were range-bound for the first half of November, with […] The post LME ferrous scrap contract […]

  • Do oil hubs dream of electric vehicle fleets? Singapore certainly does
    by Eric Yep on 2017-12-21 at 05:01Earlier this month, Asia’s largest oil trading hub, Singapore, launched its first electric vehicle-sharing service with 80 cars and 30 charging stations. This will eventually hit 1,000 electric cars and 500 stations with 2,000 charging points. The service was launched by BlueSG, a subsidiary of France’s Bolloré Group that runs the world’s largest electric car sharing […]

  • Oil and gold looking a little bit more “normal” as 2017 draws to a close
    by John Kingston on 2017-12-20 at 12:00A few weeks ago in London, at a pre-conference dinner before the Platts Digital Commodities Summit, the conversation naturally turned to bitcoin and other cryptocurrencies, and the rejection – and disdain – that many supporters of the entire crypto movement have for what are known as “fiat currencies.” Most people know fiat currencies as everything […] The post Oil […]

  • India overcomes policy hurdles to strengthen steel sector in 2018-19
    by Paul Bartholomew on 2017-12-20 at 05:50Just over a year ago, delegates flying into Mumbai to attend the S&P Global Platts Steel Markets Asia conference were confronted by enormous queues at the sole ATM near the terminal exit gates. “Surely there are other ATMs in Mumbai,” your correspondent thought. What no one realized at the time was that we had stumbled […] The post India overcomes policy hurdles to […]

Energy and Capital

Energy Business Review – Exploration & Development

  • Strata-X secures full control of coal seam gas project in Botswana
    on 2018-01-04 at 00:00Strata-X Energy announced that it has secured complete ownership of the Serowe Coal Seam Gas Project (Serowe CSG) in Botswana by buying out the 25% stake it previously didn’t own. […]

  • US Energy Department to fund $30m for unconventional oil and gas projects
    on 2018-01-04 at 00:00The US Department of Energy (DOE) has selected six projects which will receive approximately $30m in federal funding to boost unconventional oil and natural gas recovery. […]

  • Swala to buy $130m worth stake in Pae Panafrican Energy
    on 2018-01-03 at 00:00Swala Oil & Gas has agreed to acquire up to 40% of stake in Orca Exploration Group’s wholly-owned Mauritius subsidiary, PAE PanAfrican Energy (PAEM) for a total consideration of up to $130m. […]

  • Maersk Drilling bags contract from Tullow Ghana
    on 2018-01-02 at 00:00Maersk Drilling has secured a four year contract for the deep-water drillship Maersk Venturer from Tullow Ghana. […]

  • Italy’s Eni begins oil exploration in Alaska’s Beaufort Sea
    on 2017-12-28 at 00:00Italian oil producer Eni has began drilling for oil exploration in the US waters off the north coast of Alaska, following the spudding of a new well in the Beaufort Sea. […]

  • Commonly used rigs to drill oil
    on 2017-12-23 at 03:35Drilling rigs are of various types and the selection of the rig depends upon the requirements of the drill sites. Generally used for upstream activities in the oil and gas industry, drilling rigs are mainly categorized as onshore and offshore. Drilling rigs house massive equipment for the exploration of oil wells and natural gas extraction wells. […]

Energy Business Review – Drilling & Production

Oil & Gas iQ

  • Controlling Contract Growth: Report
    on 2018-01-04 at 14:55Contract change is inevitable regardless of industry; it is part of every project’s DNA.Change falls into two main categories, foreseen and unforeseen. It’s the latter that typically gets projects into trouble causing cost overruns and schedule delays/disruptions, and of course “unforeseen&rdquo […]

  • 2017 and Beyond: The Future for Floating Production
    on 2018-01-04 at 14:55The oil and gas world has changed immensely since the oil price crash in 2014, modifying the way that companies have approached their long-established contract processes. As an upstream business, the floating production sector is no different and has had to roll with the tide.In EMA’s annua […]

  • Exploring the next steps for the LNG bunkering market
    on 2018-01-04 at 14:55LNG 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
    on 2018-01-04 at 14:55The 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 […]

Arabian Oil And Gas  – News

US Department of Energy – Press Releases and Techlines

Business Standard – Commodities | Oil & Gas