Commodities: Oil & Gas for February 13, 2018


Various PDVSA News

  • Official: US believes ex-Venezuela oil czar took bribes
    on 2018-02-13 at 03:25In Monday’s indictment, prosecutors in Houston allege two of the charged individuals told businessmen that proceeds from bribe payments they made in exchange for quick payments and contracts with Venezuela’s state-run oil giant PDVSA would be shared with a senior Venezuelan official, identified in … […]

  • Official: US believes ex-Venezuela oil czar took bribes
    on 2018-02-13 at 02:46In Monday’s indictment, prosecutors in Houston allege two of the charged individuals told businessmen that proceeds from bribe payments they made in exchange for quick payments and contracts with Venezuela’s state-run oil giant PDVSA would be shared with a senior Venezuelan official, identified in … […]

  • DoJ Charges Five Ex-Venezuelan Officials in Energy Contract Bribery Scheme
    on 2018-02-13 at 01:18… today against five former Venezuelan government officials for their alleged participation in an international money laundering scheme involving bribes made to corruptly secure energy contracts from Venezuela’s state-owned and state-controlled energy company, Petroleos de Venezuela S.A. (PDVSA) … […]

  • Venezuela Seeks Oil Equipment Supply Deals With Russian Companies
    on 2018-02-13 at 00:56Rosneft actively cooperates with Venezuelan partners in oil and gas exploration, successfully competing with companies from other countries. Rosneft and Gazprombank take part in oil producing joint ventures together with Venezuelan PDVSA. In 2016, joint ventures with Russian participation produced … […]

  • UPDATE 1-US charges five ex-Venezuelan officials in PDVSA bribe case
    on 2018-02-13 at 00:19U.S. charges five ex-Venezuelan officials in PDVSA bribe case February 12, 2018; WBC experience leads Hirano to D-backs for late-inning role February 12, 2018; Drunk JetBlue passenger charged for assaulting crew, touching passenger February 12, 2018; Trump infrastructure plan would speed up … […]

  • US charges five ex-Venezuelan officials in PDVSA bribe case
    on 2018-02-13 at 00:19U.S. charges five ex-Venezuelan officials in PDVSA bribe case (Reuters) – U.S. prosecutors on Monday announced charges against five former Venezuelan officials accused of soliciting bribes in exchange for helping vendors win favorable treatment from state oil company PDVSA, the latest case to … […]

  • Five more charged in Houston in PDVSA bribery case
    on 2018-02-13 at 00:11The five indicted Monday, including former officials of PDVSA and the Venezuelan government were known as the “management team” and wielded significant influence within the Venezuelan energy company, according to the indictment. RELATED: Two businessman plead guilty in bribery case. […]

  • Former Venezuelan Officials Charged With Money Laundering at PDVSA​​​​​​​
    on 2018-02-12 at 23:48The five include Nervis Villalobos, the country’s former deputy energy minister, and Luis De Leon, a dual citizen of Venezuela and the U.S. who is a former financial director of a PDVSA affiliate, according to an indictment from August that was unsealed Monday. De Leon and Villalobos are also each … […]

PennEnergy Oil Exploration & Production News

Oil & Gas Journal

  • Pertamina discovers more West Java gas
    on 2018-02-12 at 23:20According to The Jakarta Post, state-owned Pertamina’s Karunia 1-X exploration well discovered 84 bcf of natural gas on West Java’s Abar block. Pertamina’s upstream subsidiary PT Pertamina Hulu Energi (PHE) has operated the block since May 22, 2015. […]

  • White House’s proposed fiscal 2019 budget contains permitting reforms
    on 2018-02-12 at 23:09The Trump administration followed through on its promise to address energy project permit decision delays with a proposed fiscal 2019 federal budget on Feb. 12 that included $185 million for that purpose and for related rights-of-way questions at the US Bureau of Land Management. […]

  • Energean extends Prinos development offshore Greece
    on 2018-02-12 at 22:50Energean Oil & Gas will drill as many as 25 wells and install two platforms as part of an investment program on the Prinos license offshore northeastern Greece. The $180-million investment will increase production from Prinos and Prinos North oil fields through 2021, as well as develop Epsilon oil field. […]

  • IADC, FPC weigh in on draft 2019-24 OCS plan
    on 2018-02-12 at 19:44Federal waters off Florida should remain part of the proposed 2019-24 US Outer Continental Shelf oil and gas leasing plan, officials from the International Association of Drilling Contractors and the Florida Petroleum Council separately said at a Feb. 8 public hearing in Tallahassee. […]

  • WildHorse to become pure-play Eagle Ford producer
    on 2018-02-12 at 19:35WildHorse Resource Development Corp., with recent acquisition and divestiture agreements, has become a pure-play Eagle Ford producer with oil representing 70% of its production in 2018. […]

  • Suncor buys Mocal Energy’s Syncrude stake
    on 2018-02-12 at 19:22Suncor Energy Inc. has agreed to acquire Mocal Energy’s 5% interest in the Syncrude oil sands joint venture for $730 million. &nbs […]

World Oil – US Onshore

Various Oil & Gas News

  • Crude oil retreats after bullish swing loses steam, WTI back under 60/barrel
    on 2018-02-13 at 07:09Crude oil gives up on early week’s bullish swing quickly. Glut in US oil supply continues to hamper prices. Crude oil is up softly in Asia, with WTI trading near 59.60 per barrel and Brent closing on 63.00 per barrel. Crude is fighting an uphill battle, with the bullish move that started the week off from an … […]

  • WTI Crude Oil Price Analysis for Feb 13, 2018
    on 2018-02-13 at 05:26WTI crude oil is still in correction mode as previously bounced off the top of its ascending channel on the daily chart. Applying the Fib tool on the latest swing high and low on the same time frame shows that the 38.2% level is holding as support for now. This is close to the 100 SMA dynamic support, … […]

  • Crude oil retreats after bullish swing loses steam, WTI back under 60/barrel
    on 2018-02-13 at 04:41Crude oil is up softly in Asia, with WTI trading near 59.60 per barrel and Brent closing on 63.00 per barrel. Crude is fighting an uphill battle, with the bullish move that started the week off from an almost two-month low being immediately blunted by the revelation that the Trump government plans to sell off … […]

  • Crude Oil Price Forecast February 13, 2018, Technical Analysis
    on 2018-02-13 at 04:07The WTI Crude Oil market has rallied significantly during the day on Monday but is starting to run into trouble near the $61 level, an area that is congruent with an uptrend line that has been important. The fact that we broke down below that uptrend line late last week was a very negative sign, and it now … […]

  • Brent may resume its rally to $66-67 in the near term
    on 2018-02-13 at 03:56Mumbai: Near-month Brent futures fell by 11 per cent to $62.79 a barrel in 10 sessions through Friday but took solid support at the 100-day simple moving average of $63.12. … For India, two-fifths of whose crude basket comprises Brent oil, crude at elevated levels has a bearing on the current account. […]

  • Oil prices firm as global stock markets rebound
    on 2018-02-13 at 01:07U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $59.44 a barrel at 0103 GMT. That was up 15 cents, or 0.25 percent, … With markets seemingly returning to calmer waters, oil traders said attention was turning to inventory levels to gauge crude supply levels. “The change in inventories this … […]

  • Opec raises oil supply forecast as US surges
    on 2018-02-13 at 00:05Its efforts have been credited with helping to reduce oil stocks and bring the market back into balance. Together with increasing oil demand, this has supported the price of Brent crude, the international benchmark, which recovered to more than $70 a barrel last month from lows of less than $30 reached … […]

  • Crude halts decline as demand seen burning through shale output
    on 2018-02-12 at 21:00Kuwait Oil Minister Bakheet Al-Rashidi characterized the selloff as a “correction only.” Meanwhile, OPEC compliance with crude output cuts rose to a record 136% in January, according to Bloomberg calculations. West Texas Intermediate crude for March delivery added 9 cents to settle at $59.29/bbl on … […]

  • What Lies Ahead for Oil ETFs?
    on 2018-02-12 at 20:48This fund focuses on providing exposure to WTI crude by investing in listed crude futures and other oil-related futures contracts, and it may also invest in forwards and swaps. It has AUM of $1.8 billion and charges a fee of 77 basis points a year. The fund has returned 4.5% in a year has but lost 1.3% so … […]

  • OPEC Revises Up Rival Oil Supply Growth Forecast, Again
    on 2018-02-12 at 20:00For yet another month, OPEC has revised up its expectations for non-OPEC crude oil supply growth this year, expecting—again—U.S. oil production to increase more than previously … Surging U.S. production, coupled with the financial market turmoil last week, sent WTI prices below $60 on Friday. […]

Oil & Gas 360

Economic Times

Hellenic Shipping News Worldwide – General Energy News

  • German gas grids study expansion to account for higher imports
    by hellenicshippingnews.. on 2018-02-12 at 22:00Germany is collecting bids by gas pipeline companies on how to spend allocated investments of around 7 billion euros ($8.6 billion) between 2018 and 2028 on grid infrastructure to account for rising imports, FNB, an association of long-distance gas network firms, said on Monday. * The consultation is open to March 2 and held publicly … […]

  • Gas shortfall to equal total current supplies in two years
    by hellenicshippingnews.. on 2018-02-12 at 22:00With an addition of 300,000 gas consumers every year, the country’s gas shortage is estimated to touch four billion cubic feet per day (bcfd) — almost equal to current total supplies — in two years and will go beyond 6.6bcfd by 2030. The projection has been made by the Oil and Gas Regulatory Authority (Ogra) … […]

  • Eni says to produce 2.9 bcf per day from Zohr field by second half 2019
    by hellenicshippingnews.. on 2018-02-12 at 22:00Production from Egypt’s huge Zohr offshore gas field in the Mediterranean will reach 2.9 billion cubic feet per day by mid-2019, Italy’s Eni said on Monday. Speaking at an industry event in Cairo, CEO Claudio Descalzi said the goal was to reach output of 1.8 bcf to 2 bcf per day by the end of … […]

  • S.Korea’s KOGAS says in LNG arbitration with Australia’s North West Shelf Gas
    by hellenicshippingnews.. on 2018-02-12 at 22:00South Korea’s Korea Gas Corp has entered court-administered arbitration with Australian joint venture North West Shelf Gas seeking to settle a dispute over a liquefied natural gas (LNG) contract that expired in 2016. A spokesman for the state-run Korean firm, known as KOGAS, confirmed an arbitration process was under way but declined to give details. … […]

Hellenic Shipping News Worldwide – Oil & Companies News

  • Oil Bulls Run Scared in Global Volatility as U.S. Rivals Saudis
    by hellenicshippingnews.. on 2018-02-12 at 22:00Oil enthusiasts are retreating as volatility takes hold of global markets and American gushers rival Saudi Arabia’s. Hedge funds scaled back bets on rising West Texas Intermediate crude prices by the most since August as shock waves rattled everything from stocks to commodities. The rout intensified fears that demand for crude won’t suffice to drain … […]

  • OPEC sees higher 2018 oil demand, but more rival supply
    by hellenicshippingnews.. on 2018-02-12 at 22:00Crude Oil Price Movements The OPEC Reference Basket increased for the fifth-straight month in January, gaining a sharp 7.7% to average $66.85/b, the highest monthly average since November 2014. Oil prices were supported by continuing efforts by OPEC and participating non-OPEC producers to balance the market and ten consecutive weeks of crude inventory draws amid … […]

  • Investors sceptical on sustainability of oil rally – Goldman Sachs
    by hellenicshippingnews.. on 2018-02-12 at 22:00Investors are wary that factors such as healthy global demand, supply disruptions and U.S. producer discipline that propelled the recent rally in oil prices were less likely to be sustainable, Goldman Sachs said on Monday. “Most importantly, investors remain unconvinced U.S. producer discipline will hold,” the investment bank said in a note. “That supply growth … […]

  • OPEC President Says Shale Surge Won’t Thwart Plan to Clear Glut
    by hellenicshippingnews.. on 2018-02-12 at 22:00Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president. The market should re-balance this year, given robust demand and producers’ compliance with their pledges to curtail supply, United Arab Emirates Energy Minister Suhail Al Mazrouei, currently the president of … […]

The Barrel

  • Dubai-LOOP Sour spread shows open arbitrage east: In the LOOP
    by Mary Hogan, Alan Tomczak on 2018-02-13 at 05:40The Platts Dubai-LOOP Sour spread has widened to a little more than $3/b so far in February, suggesting an improved and opened arbitrage for US Gulf Coast medium sours grades to head to Asia. The 10-day moving average spread between second-month Platts Dubai and front-month Platts LOOP Sour was $3.17/b Monday, with LOOP Sour the lower-valued […] The post Dubai-LOOP Sour spread shows […]

  • After a year of Trump, most energy prices now ahead of Obama’s last day: Of Presidents and Prices
    by Joseph Innace on 2018-02-12 at 13:00It took nearly 12 months for several key commodity prices during President Donald Trump’s first year to surpass their levels on President Barack Obama’s final day in office. Commodity prices had bumped along mostly sideways until a late rally in fourth-quarter 2017. Some are now up sharply in recent weeks, lending support to the broader […] The post After a year of Trump, most […]

  • 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 […]

Energy and Capital

  • New Cannabis ETF is Coming
    by Jeff Siegel on 2018-02-12 at 08:00Organigram expands, Horizons Marijuana Life Sciences launches a new ETF, and prohibitionists try to stop Michigan from legalizing. […]

  • Investing in Vanadium Redox Batteries
    by Luke Burgess on 2018-02-12 at 08:00The most prospective energy metal isn’t lithium or cobalt. The energy metal with the biggest upside right now is one you may not know: vanadium. […]

  • 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. […]

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 2018-02-13 at 13:06Hexagon 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 2018-02-13 at 13:06Survey 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 2018-02-13 at 13:06Global 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