Commodities: Oil & Gas for February 12, 2018


Various PDVSA News

  • PDVSA Bonds Join Venezuela Bonds in Trading Flat (Defaulted) EMTA Recommended Market …
    on 2018-02-11 at 21:45NEW YORK — Following consultations with major market participants, the Emerging Markets Trading Association (EMTA) is recommending that, for all trades entered into on or after February 12, 2018, all Bonds issued by PDVSA that are on a U.S. sanctions exceptions list (see the Annex to the General … […]

  • The loss of Venezuela is a profit for OPEC
    on 2018-02-11 at 20:37Now state-owned oil company PDVSA is in chaos. Since the end of last year, dozens of experienced employees have been freed, and the company was headed by a general of the National Guard without any industry experience. He claims production will recover this year. Some reliable analysts … […]

  • Y6V8-VES5: PDVSA’s Debt Restructuring: The Chapter 15 Opti…
    on 2018-02-10 at 23:42There Is No Preview Available For This Item. This item does not appear to have any files that can be experienced on Please download files in this item to interact with them on your computer. Show all files. remove-circle … […]

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • CEO, CFO depart SandRidge Energy; company cites ‘new strategic direction’
    on 2018-02-09 at 22:49Citing a “new strategic direction” following discussions with large shareholders, SandRidge Energy Inc. said company Pres. and Chief Executive Officer James Bennett and Chief Financial Officer Julian Bott have left the company.&nbs […]

  • Valeura Energy launches Thrace basin unconventional play concept
    on 2018-02-09 at 20:33Canadian Valeura Energy Inc. and partner Statoil ASA are planning a three-well delineation drilling and testing program commencing in this year’s third quarter on the Banarli and West Thrace licenses in northwest Turkey’s Thrace basin, which is west of Istanbul and extends to the borders of Greece and Bulgaria. […]

  • Baker Hughes: US rig count jumps 29 units from last week
    on 2018-02-09 at 20:30Reversing last week’s 1-unit loss, the US drilling rig count jumped 29 units to 975 rigs working during the week ended Feb. 9, data from Baker Hughes indicate. This total is up 234 units from a year ago.&nbs […]

  • US federal budget becomes law with carbon capture, SPR provisions
    on 2018-02-09 at 20:14US President Donald Trump has signed a fiscal 2018 federal budget bill into law on Feb. 9 following months of debate and negotiations in both houses of the 115th Congress. H.R. 1892’s provisions included sales of 100 million bbl of crude oil from the Strategic Petroleum Reserve starting in 2022 and expansion of the Section 45Q tax credit for carbon capture and storage including […]

  • Chesapeake Energy reports 4Q production, plans Mississippian Lime exit
    on 2018-02-09 at 19:02As part of its fourth-quarter 2017 production release, Chesapeake Energy Corp., Oklahoma City, noted plans to exit the Mississippian Lime play of the northern Anadarko basin.&nbs […]

  • Targa to add Permian gas processing, Texas fractionation capacities
    on 2018-02-09 at 18:51Targa Resources Corp. plans to build two 250-MMcfd cryogenic natural gas processing plants to support rising production in the Midland basin of the Permian basin. The first plant is scheduled for startup in first-quarter 2019, with commissioning of the second plant to follow during third-quarter 2019, Targa said.&nbs […]

World Oil – US Onshore

Various Oil & Gas News

  • Petrol, diesel prices continue to fall for fifth day; this time for real as crude oil settles below $64 per …
    on 2018-02-12 at 06:22Petrol and diesel prices have continued to fall for the five straight days as the benchmark Brent crude oil price has settled below $64 per barrel. Petrol and diesel prices on February 12 were cut by 21 paise and 28 paise respectively even as Brent crude oil price jumped up 63 cents to $63.42 per barrel. […]

  • Petrol, diesel prices reverse trend in India, record fifth-consecutive decline
    on 2018-02-12 at 06:11Last week, US crude tumbled to seven-week low at $58.07 a barrel, while Brent crude dropped $1.66, or 2.6 percent, to $63.15, after hitting a nine-week low at $61.77. While WTI went below $59 a barrel after Baker Hughes reported the US oil rig count rose by 26 rigs to 791, the highest total since April … […]

  • Gold, Silver, Copper and Crude Oil Briefing
    on 2018-02-12 at 06:11WTI Crude Oil at 59.88 moved up from near 58. In there is a dip below 58, WTI Crude Oil is likely to test 56-54 as visible on the 3-Day, before a bounce is seen. Brent Crude at 63.43 on the other hand has been stable above 62-61, which look to be decent support medium term. Brent-WTI Spread at 3.53 … […]

  • Crude oil finding buyers in thin volume, trying to pare back recent losses
    on 2018-02-12 at 06:00Crude oil climbed marginally to begin the week’s trading, adding fifty cents a barrel to WTI crude, and is now trading flat ahead of European markets, near 59.80/barrel. Crude oil took a header recently, closing in the red for five of the last seven trading days, as risk aversion sees equities off their record … […]

  • Petrol, Diesel Rates Fall For 5th Straight Day. Details Here
    on 2018-02-12 at 05:02In the current scheme of petrol and diesel price revision, the prices of the two fuels are determined broadly by the global crude oil rates and the rupee-dollar exchange rate. The recent turmoil in global financial markets has hit crude prices. Brent crude futures have slid over 10 per cent from this year’s … […]

  • Bursa firms up amid Asian rebound
    on 2018-02-12 at 04:52Laggards included Dutch Lady , shaving 20 sen to RM63, Petronas Malaysia, dropping 20 sen to RM10.78 and Globetronic, losing 15 sen to RM6.04. Oil prices retraced some losses seen over the past week as equity markets firmed up. WTI crude gained 66 cents to US$59.86 a barrel while Brent crude … […]

  • The silver lining in the market crash
    on 2018-02-12 at 01:52When Brent crude oil went up about $10/barrel in such a short time some selling had to come and that is what is happening now, pointed out Jain. “Once this clears out, there is no doubt in my mind that crude is on a strong wicket,” he added. And what about shale oil production—which was expected to … […]

  • Oil prices rise 1 percent as stocks markets steady
    on 2018-02-12 at 01:28Brent crude futures were at $63.42 per barrel at 0250 GMT, up 63 cents, or 1 percent, from the previous close. U.S. West Texas … But with U.S. stock markets rebounding on Friday and Asian markets seemingly steadying on Monday, analysts said crude was also supported. “The bounce in U.S. stocks … […]

  • Stocks attempt a bounce, bonds fret on US inflation
    on 2018-02-12 at 00:36Commodities were also paring their losses, with gold 0.6 percent firmer at $1,323.76 an ounce and off a five-week low of $1,306.81. Brent crude futures rallied 47 cents to $63.26 a barrel, while U.S. crude for April added 54 cents to $59.74. Brent lost nearly 9 percent last week and U.S. crude dropped 10 … […]

  • Stocks try a tentative bounce, bonds fret on US inflation
    on 2018-02-12 at 00:12Commodities pared recent losses, with gold 0.6 percent firmer at $1,323.88 an ounce and off a five-week low of $1,306.81. Brent crude futures rallied 59 cents to $63.38 a barrel, while U.S. crude for April added 68 cents to $59.88. Brent lost nearly 9 percent last week and U.S. crude dropped 10 percent, … […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • Strategic alliance expands between Saudi and Russia – Kuwait needs to invest in gas sector
    by hellenicshippingnews.. on 2018-02-11 at 22:00Yes, Saudi Arabia is not alone any more in bearing the burden and responsibility of stabilizing oil prices. It has now found a new partner to share the burden. It happened through the new Russian strategic partnership that started early 2016 during an OPEC meeting in Qatar that was aimed at finding solutions and ways … […]

  • Senegal, Mauritania agree to cooperate on giant offshore gas field
    by hellenicshippingnews.. on 2018-02-11 at 22:00West African neighbours Senegal and Mauritania signed an agreement on Friday, pledging to work together and split production from a giant new cross-border gas field being developed by Kosmos Energy and BP. The Greater Tortue Complex, which straddles the two countries’ maritime boundary, is estimated to hold more than 25 trillion cubic feet of gas. … […]

  • GLOBAL LNG-Price rebounds as North Asian buyers replenish inventory
    by hellenicshippingnews.. on 2018-02-09 at 22:00Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold weather in North Asia forced buyers to enter the spot market to replenish inventory. Spot prices for March LSG-AS delivery in Asia climbed 40 cents to $10.60 per million British thermal units (mmBtu) this week, according to several LNG traders in Asia. … […]

  • Japan’s Ichthys LNG project costs blow out further -Total
    by hellenicshippingnews.. on 2018-02-09 at 22:00The giant Ichthys liquefied natural gas (LNG) project in Australia, the first to be led by a Japanese company, Inpex Corp , is likely to see further cost blowouts and possible delays in production, its junior partner said. Costs for the project, which has already been hit with multiple delays and a recent deadly industrial … […]

  • Angola natural gas legislation being finalised – oil secretary
    by hellenicshippingnews.. on 2018-02-09 at 22:00Angolan legislation on exploration and production rights for natural gas is “in its final stages,” the president’s oil secretary, Paulino Jeronimo, said on Friday. Angola does not currently have any legislation covering the rights of companies to explore or produce gas. Jeronimo added to reporters on the sidelines of a government event for the energy … […]

  • January NYISO coal/oil generation shot up 202% on extreme cold
    by hellenicshippingnews.. on 2018-02-09 at 22:00Coal/oil generation in the New York Independent System Operator footprint shot up 202.4% year on year in January, as nuclear generation remained the lead fuel source with a 16.2% year-on-year increase, according to ISO data. Total coal/oil generation averaged 9,748 MWh/d in January, compared with a two-year average of 3,182 MWh/d. Despite the large jump … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Oil gains two percent as global markets stabilise, dollar dips
    by hellenicshippingnews.. on 2018-02-12 at 10:00Oil rose 2 percent on Monday, recovering some of last week’s steep losses as global equities steadied after their largest one-week slide in two years. Brent crude futures rose 95 cents to $63.74 a barrel by 1012 GMT, up nearly 2 percent, while U.S. West Texas Intermediate futures gained $1.03 to $60.23, up 1.8 percent. … […]

  • Two OPEC Nations Set to Open Giant Fields. At What Cost to Deal?
    by hellenicshippingnews.. on 2018-02-12 at 10:00Two OPEC countries will bring giant oil fields online this year, testing their commitment to cap output amid a global push to curb supply. Total SA plans to start production at two so-called mega-projects, Kaombo in Angola and Egina in Nigeria, Chief Executive Officer Patrick Pouyanne said Thursday. Once both are onstream — Kaombo by … […]

  • 2018 Brent Crude Oil Volatility: February Outlook
    by hellenicshippingnews.. on 2018-02-12 at 10:00The Dated Brent market went up in the first ten days of January and tested the $71/b threshold at least 3 times before dropping back to $68/b at the end of January. The Brent physical market has recently encountered quite a lot of competition from American sweet grades which, thanks to a favorable Brent/WTI spread, … […]

  • Fitch: European Oil Majors Adapt to Low Oil; Break Even in 2017
    by hellenicshippingnews.. on 2018-02-11 at 22:00European oil majors, including Shell, Total and BP, have broadly adapted to oil prices under USD60/bbl thanks to improved spending discipline, cost deflation and lower cash dividends, Fitch Ratings says. The companies all generated neutral-to-positive free cash flows in 2017 (after dividends, before M&A), according to their recently released annual results. Developments in their credit … […]

  • Emboldened by the oil market’s recovery, OPEC readies the taps — just in case
    by hellenicshippingnews.. on 2018-02-11 at 22:00Having patiently waited a year for the oil market to turn, many OPEC members are now feeling confident enough in its recovery to begin touting their output expansion plans, even as they insist they will comply with their quotas under their production cut agreement. In recent weeks, Kuwaiti oil minister Bakheet al-Rashidi has declared that … […]

  • Oil Majors Reward Investors After Crude’s Rally Revives Profit
    by hellenicshippingnews.. on 2018-02-11 at 22:00As oil’s existential crisis recedes, it’s bringing happier times for some shareholders. The bosses of the world’s biggest oil companies are prioritizing investors over investments, channeling the extra cash that comes from $60 crude into share buybacks or higher dividends. Not everyone is equally blessed, with holders of stock in the largest U.S. producers suffering … […]

The Barrel

  • Enhanced oil recovery may offer climate solution: Fuel for Thought
    by Bob Williams on 2018-02-12 at 07:20As counterintuitive as it may sound to those who want to transition away from fossil energy to combat climate change, the US government has long supported research into technology that could potentially slow or even halt the growth of industrial carbon emissions while expanding the recovery of oil from existing fields. Many in the oil […] The post Enhanced oil recovery may offer climate […]

  • How long can the lithium bull run last?
    by Diana Kinch on 2018-02-09 at 17:00Lithium, one of the principal ingredients of the lithium-ion battery used for electric vehicles, has been on a bull run since 2015. Production increased substantially in 2017 with a flurry of new investors bringing capacity on stream, meaning there’s no sign of deficit, and further major mine increases are set to come in the next […] The post How long can the lithium bull run last? […]

  • China’s white goods sector tipped to weaken
    by Staff on 2018-02-09 at 04:10Steel demand from the white goods sector benefited Chinese mills last year, but the effect of a weaker housing market is set to adversely impact demand this year. China’s production of white goods – air conditioners, washing machines, freezers, refrigerators and televisions – totaled 532 million mt in 2017, up 11% year on year, according […] The post China’s white […]

  • 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 […]

Energy and Capital

  • Only Suckers Buy Tesla
    by Keith Kohl on 2018-02-09 at 08:00Energy and Capital editor Keith Kohl explains why only suckers are buying Tesla right now… and shows investors the companies that will gouge Elon Musk for all he’s worth. […]

  • What is the Real Value of Bitcoin?
    by Luke Burgess on 2018-02-08 at 08:00Crypto-mania has peaked. But now that the hype surrounding the cryptocurrency is quieting down, it’s a good time to use what we’ve learned about Bitcoin to reevaluate its true value. […]

  • 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… […]

Energy Business Review – Exploration & Development

Energy Business Review – Drilling & Production

Oil & Gas iQ

  • This is how you control contract growth [WEBINAR]
    on 1970-01-01 at 00:00In this free-to-attend 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 futur […]

  • Why is oil and gas so slow to upgrade?
    by Oil & Gas IQ News on 2018-02-12 at 12:49Hexagon 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 2018-02-12 at 12:49Survey 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 2018-02-12 at 12:49Global 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

Business Standard – Commodities | Oil & Gas