Commodities: Oil & Gas for February 8, 2018


Various PDVSA News

  • Venezuela president to attend ISA summit in India next month
    on 2018-02-08 at 00:11Venezuela’s PDVSA and ONGC have agreed to further invest in the San Cristobal joint venture (JV) over the next few years to increase production. As reported by FE earlier, the two companies had signed a contract to increase production in the Orinoco Oil Belt worth $318 million and in 2017 the first … […]

  • The US is closer to deciding whether to hit Venezuela with sanctions that could cause pain in other …
    on 2018-02-07 at 23:03A worker walks past a mural with a PDVSA logo at its gas station in Caracas A worker walks past a mural with a PDVSA logo at a gas station in Caracas, August 29, 2014. Thomson Reuters. KINGSTON (Reuters) – The United States is closer to deciding whether to impose sanctions on Venezuelan oil, … […]

  • Fully-refined Paraffin Wax Sales Market Status and Prospects 2018 to 2025
    on 2018-02-07 at 21:11Global Fully-refined Paraffin Wax Sales Market Report 2018 to 2025 presents an in-depth assessment of the Fully-refined Paraffin Wax Sales including enabling key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future … […]

  • Mohammed Barkindo: leadership of President Maduro made possible the Declaration of …
    on 2018-02-07 at 16:24Caracas.- “I officially propose to the OPEC Plus nations to expand the mechanisms of the Joint Ministerial Monitoring Committee for the coming years”, said President of the Bolivarian Republic of Venezuela, Nicolás Maduro, upon meeting Secretary General of the Organization of Petroleum Exporting … […]

  • Venezuela is a ‘clear and present danger’ for the oil market, says RBC’s Helima Croft
    on 2018-02-07 at 14:03“The clear and present danger to watch is Venezuela, which arguably has progressed past the risk stage given that production is in freefall,” Helima Croft, head of global commodity strategy at RBC Capital Markets, said in a research note Wednesday. The oil-dependent state is struggling to cope with … […]

  • Workplace Absenteeism Takes Over PDVSA Gas Anaco
    on 2018-02-07 at 13:33Original art by @modográfico. Write this one down: in the coming months, oil and gas production in PDVSA Gas Anaco will abruptly drop. Why? Because nobody wants to run a drilling rig when hungry. The industry is still reeling from the military takeover of PDVSA. Here, in Anaco, the large PDVSA Gas … […]

  • Oil production from Venezuela is at its lowest in decades
    on 2018-02-07 at 13:30Venezuelan oil production has been on a steady decline and Platts reported it’s expected to continue because of the mounting pressures from civil unrest, a high debt and U.S. sanctions that limit financing for the state oil company, Petróleos de Venezuela, or PDVSA. The U.S. government in December … […]

  • United States Aircraft Fuel Market 2018- Exxon Mobil, Shell, BP, Total, Chevron, PDVSA, Texaco
    on 2018-02-07 at 06:33The report Aircraft Fuel Market 2018 presents a widespread and fundamental study of Aircraft Fuel industry along with the analysis of subjective aspects which will provide key business insights to the readers. The United States Aircraft Fuel Market 2018 research report offers the analytical view of the … […]

  • US Secretary of State Tillerson threatens oil sanctions against Venezuela
    on 2018-02-07 at 04:07The US has already imposed economic sanctions on more than 40 Venezuelan individuals, including President Maduro, has barred US businesses and individuals from transactions with the Venezuelan state oil company PDVSA, and blocked the sending of dividends to PDVSA by its US subsidiary, … […]

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • US Senate Democrats give floor speeches against draft 2019-24 OCS plan
    on 2018-02-07 at 22:28Nine US Senate Democrats and Independent Angus E. King (Me.) emphasized potential adverse impacts to existing coastal economies as they delivered Feb. 6 floor speeches against the US Department of the Interior’s draft proposed 2019-24 US Outer Continental Shelf management program. […]

  • EIA AEO: Total US energy production increases 31% from 2017 to 2050
    on 2018-02-07 at 18:40Total US energy production increases by 31% from 2017 through 2050 in the reference case, led by increases in the production of renewables other than hydropower, natural gas, and crude oil, the US Energy Information Administration’s latest annual energy outlook suggested. […]

  • EIA STEO: US crude oil production to average 10.6 million b/d in 2018
    on 2018-02-07 at 18:22In its latest Short-Term Energy Outlook, the US Energy Information Administration forecasts US crude oil production to average 10.6 million b/d in 2018 and 11.2 million b/d in 2019, both of which are 300,000 b/d higher than forecast in the January STEO. […]

  • Local council in UK rejects core drilling
    on 2018-02-07 at 18:11Plans by Ineos Shale for core-well drilling in the East Midlands of England have met resistance from local officials. Planning committee members of the Derbyshire County Council voted 9-1 to reject a recommendation that the test be approved.&nbs […]

  • EIA: US crude stocks up 1.9 million bbl
    on 2018-02-07 at 17:36US commercial crude oil inventories, which exclude the Strategic Petroleum Reserve, increased 1.9 million bbl during the week ended Feb. 2 from the previous week. […]

  • Moody’s: Venezuela in ‘deeper’ stress phase
    on 2018-02-07 at 16:56Falling oil production has pushed hard-pressed Venezuela into “a deeper phase of economic stress,” warns Moody’s Investors Service. Because of mismanagement and underinvestment, Venezuelan production is falling faster than crude-price stabilization can offset financially, Moody’s says in a research note. &nbs […]

World Oil – US Onshore

Various Oil & Gas News

  • Oil reverses falls as North Sea outage, China demand outweigh soaring US output
    on 2018-02-08 at 07:30Brent crude futures were at $65.51 per barrel at 0721 GMT, flat from their last close and up from a 2018-low of $65.12 a barrel reached early in the session. U.S. West Texas Intermediate (WTI) crude futures were at $61.73 a barrel. That was down 3 cents from their last settlement, but a recovery from a … […]

  • Factbox: UK’s Forties pipeline shuts again
    on 2018-02-08 at 04:07A “chained” cargo in the Dated Brent market is a cargo of either Brent, Forties, Oseberg, Ekofisk or Troll crude that is delivered to fulfill a 600,000-barrel short in the Cash BFOE market. * Cargoes sold this way can pass between numerous companies before they are claimed by a final buyer. But it is very … […]

  • Crude oil futures: NYMEX hits one-month low on EIA data, record US production
    on 2018-02-08 at 03:22Crude oil futures were lower during mid-morning trade in Asia Thursday, with NYMEX hitting a one-month low after US Energy Information … At 10:32 am Singapore time (0232 GMT), ICE April Brent crude futures were down 31 cents/b (0.47%) from Wednesday’s settle to $65.20/b, while the NYMEX … […]

  • Asian equities mixed in wake of fresh Wall Street sell-off
    on 2018-02-08 at 02:48Oil prices dropped to their lowest point in 2018 after US government data showed US crude stockpiles rose faster than expected last week and monthly data for domestic production surpassed all-time highs. Brent crude, the international benchmark, was down 0.5 per cent to $65.18 a barrel, its lowest … […]

  • Oil down as the US opens the spigot wider, pumping record levels of crude
    on 2018-02-08 at 02:15With the US Energy Information Administration upping their forecasts for 2018 oilput for the US, both WTI and Brent crude can anticipate further downward pressure as the American oil boom continues to flood global supply and undermine the OPEC’s desperate attempts to reign price levels in. […]

  • Oil prices fall as US output soars above 10 million bpd
    on 2018-02-08 at 01:18Brent crude futures LCOc1 were at $65.39 per barrel at 0525 GMT, down 12 cents, or 0.2 percent, from the previous close. Brent slipped to its lowest for the year at $65.12 a barrel early in the session. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $61.60 a barrel. That was down 19 … […]

  • Oil slides to 6-week low as oversupply concerns build
    on 2018-02-08 at 00:36Oil prices dropped to their lowest point in 2018 after US government data showed US crude stockpiles rose faster than expected last week and monthly data for domestic production surpassed all-time highs. Brent crude, the international benchmark, closed the session down 2.3 per cent at $65.35 a … […]

  • US hits oil production record 10.25 million barrels per day
    on 2018-02-08 at 00:11The agency also says West Texas Intermediate crude oil prices will be on average $4 per barrel lower than North Sea Brent through 2019. WTI will average $58.28 per barrel this year and $57.51 in 2019. In looking at WTI futures contracts for May, the EIA expects prices to be in the $55 per barrel to $77 … […]

  • US Oil Production Is Rising Much Faster Than Expected
    on 2018-02-08 at 00:00Related: Oil Prices Fall On Rising Crude Inventories. The big question at this … WTI and Brent have retreated from recent highs over the last few trading days, dragged down by the global selloff. The enormous build up … Goldman predicts Brent will top $82 per barrel within six months. If that is the case, … […]

  • US oil inventories increase as bench mark price falls further
    on 2018-02-07 at 21:45The EIA estimated that U.S. crude oil production averaged 10.2 million barrels per day in January, up 100,000 barrels per day from the December level, and total U.S. crude oil production averaged 9.3 million barrels per day in 2017. Meanwhile, the EIA forecast Brent spot prices will average about 62 … […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • Japan still uncertain over long-term LNG demand
    by hellenicshippingnews.. on 2018-02-08 at 10:00Japanese utilities are struggling to predict future LNG demand, because of uncertainty over nuclear power restarts and the growing use of renewable energy, according to speakers at an industry conference in Tokyo. Although the expiry of long-term LNG contracts in the early 2020s would allow several utilities to make new commitments, domestic gas consumption forecasts … […]

  • Qatar well-placed to meet rising LNG demand: BMI
    by hellenicshippingnews.. on 2018-02-08 at 10:00Qatar remains well-placed to meet rising LNG demand in the face of competition for regional market share from the US, Russia and Australia due to its low production costs and spare capacity, BMI Research has said in a report. “With growing demand for natural gas, Asia will continue being a focal point of competition for … […]

  • UAE’s ADNOC to invest $3.1 bln to upgrade Ruwais oil refinery
    by hellenicshippingnews.. on 2018-02-07 at 22:00Abu Dhabi National Oil Company (ADNOC) said on Wednesday it was investing $3.1 billion to upgrade its Ruwais oil refinery to free up more crude for export from its flagship Murban grade. The refinery modification, known as the Crude Flexibility Project (CFP), is scheduled to be completed by the end of 2022, ADNOC said in … […]

  • Britain’s Forties oil pipeline unexpectedly shut
    by hellenicshippingnews.. on 2018-02-07 at 18:00Britain’s Forties oil pipeline was shut on Wednesday after the unexpected closure of a feed control valve connecting to the Kinneil gas plant, traders and an Ineos note to customers said. A spokesman for Ineos, the pipeline operator, did not immediately respond to a request for comment. The pipeline, which pumps about 450,000 barrels per … […]

  • China raises 2018 gasification target to 4 mln homes, industrial plants
    by hellenicshippingnews.. on 2018-02-07 at 18:00China will switch heating systems in 4 million households and industrial plants from coal to gas or electricity in 2018, reflecting a more ambitious plan than last year, despite the gas shortages amid frigid weather conditions in the country. The plan came as part of Beijing’s push to clear up its foul air in northern … […]

  • U.S. natgas output, demand seen rising to record highs in 2018
    by hellenicshippingnews.. on 2018-02-07 at 18:00U.S. dry natural gas production was forecast to rise to an all-time high of 80.30 billion cubic feet per day (bcfd) in 2018 from 73.57 bcfd in 2017, according to the Energy Information Administration’s Short Term Energy Outlook (STEO). The latest February output projection for 2018 was down from the EIA’s 80.42-bcfd forecast in January … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Statoil CEO sees 2018 oil price below $70 per barrel
    by hellenicshippingnews.. on 2018-02-08 at 10:00The price of crude oil will likely come under pressure later this year from rising output at U.S. onshore developments as well as conventional fields, Chief Executive Eldar Saetre told Reuters. “I think we will most likely be below $70 a barrel,” he said when asked about expectations for crude prices in 2018. North Sea … […]

  • Asia starts testing Kuwait’s new ‘super light’ crude oil
    by hellenicshippingnews.. on 2018-02-08 at 10:00At least one Asian refiner has tested samples of Kuwait’s new “Super Light” crude oil and found it suitable, sources with direct knowledge of the matter told S&P Global Platts Tuesday. – Grade expected to be launched in April – Asian refiner finds new crude suitable – Vietnam’s Nghi Son refinery a possible destination for … […]

  • Oil slides as U.S. output soars and North Sea crude flows restart
    by hellenicshippingnews.. on 2018-02-08 at 10:00Oil prices hit their lowest in six weeks on Thursday after data showed U.S. crude output had reached record highs and the North Sea’s largest crude pipeline reopened following an outage. The rise in U.S. 10-year government bond yields to their highest in four years this week has put the dollar on track for its … […]

  • Venezuela is a ‘clear and present danger’ for the oil market, says RBC’s Helima Croft
    by hellenicshippingnews.. on 2018-02-08 at 10:00One of Latin America’s biggest oil producers could soon provide a key catalyst for oil prices. “We continue to contend that, given 2018’s tightening oil market, any potential geopolitically driven supply disruption would have an outsized impact versus recent years when the market was awash in crude,” Helima Croft, head of global commodity strategy at … […]

  • Iran cuts March prices for most crude grades to Asia, Europe
    by hellenicshippingnews.. on 2018-02-07 at 22:00Iran has set its official selling price for its Light crude oil for March loading to Asia at $1.80 a barrel above the average of Oman and Dubai quotes, unchanged from February, two sources with direct knowledge of the matter said on Wednesday. State-owned National Iranian Oil Co cut prices for all the three heavier … […]

  • Westwood Insight: Why so many oil and gas projects fail to produce as planned
    by hellenicshippingnews.. on 2018-02-07 at 22:00Half of oil and gas fields are not producing to expectations when onstream, and a new Westwood study shows that this is mainly due to unexpected reservoir issues. 70% of the fields studied with limited appraisal were found not to perform to the development plan. Most of the subsurface risks identified could have been mitigated … […]

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

  • The irresistible allure of old mine shafts
    by Ross McCracken on 2018-02-08 at 04:01UK energy start-up Gravitricity announced February 7 it had received a GBP650,000 ($903,400) grant from Innovate UK, the UK government’s innovation agency, for a plan to use old mines shafts to store energy. The idea is relatively simple: A massive weight would be raised up the mine shaft using a winch powered by electricity at […] The post The irresistible allure of old mine shafts […]

  • LOOP Sour becomes lighter, more sour for January: In the LOOP
    by Mary Hogan on 2018-02-06 at 08:00The US crude blend LOOP Sour was lighter and more sour in January, according to a monthly assay posted by the Louisiana Offshore Oil Port. As LOOP Sour crude became lighter, LOOP imported 4 million more barrels of Iraqi Basrah Light and 1.5 million more barrels of Kuwait Export crude than in December. Because not […] The post LOOP Sour becomes lighter, more sour for January: In the LOOP […]

  • The challenge facing US shale companies as oil prices recover: Produce more crude or more cash?
    by Starr Spencer on 2018-02-05 at 06:10As oil prices recover from the lows of 2014, US shale producers face a choice: continue to invest in record production or start returning cash to investors who helped them weather the downturn. It used to be that investors rewarded US upstream operators that could quickly grow production. More crude output growth per quarter separated […] The post The challenge facing US shale companies as […]

  • Gaspirations: In pursuit of an LNG freight derivatives market
    by Eric Yep on 2018-02-01 at 12:00The commoditization of the global LNG market has had implications across several associated industries, ranging from the gas-fired power sector to seaborne gas transportation. Hence, it came as no surprise that the venerable Baltic Exchange, probably the world’s oldest source of shipping information, set out to build an LNG freight index in January that could […] The post […]

  • Beijing locks sights on green dividend
    by Ross McCracken on 2018-02-01 at 11:30It might seem odd to speak of China’s economy as green when the country is far and away the world’s largest producer and consumer of coal, but there is no question that Beijing is combining industrial and environmental policies in a way that is more radical than most, if not all, Western governments. Moreover, given […] The post Beijing locks sights on green dividend appeared […]

  • JKM reveals three LNG surprises in three years – tightness, correlations and seasonality
    by Marc Howson on 2018-01-31 at 12:00Platts JKM, the benchmark LNG spot price, has revealed three important surprises over the past three years. In 2015, most analysts expected the LNG market to weaken considerably, increasingly de-correlate from oil and reduce seasonality. Three years of JKM analysis counters all three expectations — as well as re-emphasizing the importance of market-based LNG pricing, […] The post JKM […]

Energy and Capital

  • Recession-Proof Stocks
    by Jeff Siegel on 2018-02-07 at 08:00Energy and Capital editor Jeff Siegel says these are some of the best stocks to own when the market is crashing and gives readers some sound advice to remember when the market gets volatile… […]

  • Stocks to Buy Following a Crash
    by Christian DeHaemer on 2018-02-06 at 08:00It’s been almost impossible to find anything to buy for over a month now. Thank the gods of the Dow for this market sell-off… […]

  • Pad Your Wallet Like Big Pharma
    by Alexandra Perry on 2018-02-05 at 08:00Our medical system is broken. Patients are struggling to keep up with expensive treatment options and looking for an alternative. The CRISPR gene-editing method could be this alternative. […]

  • 2018: A Breakout Year for Gold Prices
    by Luke Burgess on 2018-02-02 at 08:00It’s time to get very excited about gold again. 2018 is going to be a breakout year for the yellow metal. Energy and Capital editor Luke Burgess shows you how to get started investing today. […]

  • Chinese Stocks are on Fire
    by Christian DeHaemer on 2018-02-01 at 08:00Emerging markets are becoming more valuable… particularly China. Energy and Capital editor Christian DeHaemer tells you why you must buy this company now. […]

  • Permian Basin Oil Profits
    by Keith Kohl on 2018-01-31 at 08:00Energy and Capital editor Keith Kohl talks West Texas oil and why the Permian Basin is going to be the most important oil region for investors in 2018. […]

Energy Business Review – Exploration & Development

Energy Business Review – Drilling & Production

Oil & Gas iQ

  • Controlling Contract Growth
    on 1970-01-01 at 00:00In this webinar, 30-year project contracts professional, Ian Foster, analyses findings from the recent contract growth industry survey. In his discussion, Ian will address each issue and offer real-world methods that can be applied today to avoid these problems on current and future projects.Learn […]

  • Why is oil and gas so slow to upgrade?
    by Oil & Gas IQ News on 2018-02-08 at 12:24Hexagon PPM has been undertaking deep research into the progress of the oil and gas industry in its journey to transform into a digitised industry – one that embraces new technologies that include cloud computing, augmented reality, 3D printing and artificial intelligence.The results of the current […]

  • Infographic: Digital transformation for oil and gas
    by Oil & Gas IQ Surveys on 2018-02-08 at 12:24Survey reveals what’s important to the industryIn this infographic, OpenText and Oil & Gas IQ take a look at how the industry is progressing on the digital transformation journey. Following a survey of almost 400 oil and gas professionals, we discover what matters most to those seeking new […]

  • Oil & Fuel Theft – Global Report
    by Oil & Gas IQ News on 2018-02-08 at 12:24Global oil and fuel theft is an underreported and relatively unexplored issue, but it is one that is causing untold threat to local and regional prosperity and stability. The problem is both broad and systematic, impacting operations in upstream, midstream and downstream. In some nations the issu […]

Arabian Oil And Gas  – News

US Department of Energy – Press Releases and Techlines