Energy News
California could change law to help utilities offset wildfire risk and save billions of dollars
Fri, 20 Jul 2018 23:37:00 GMT
California lawmakers are looking at legislation that would provide liability relief for utilities in the state that face billions of dollars in risk from wildfires.  
Second court setback to extremism will help climate agenda
Fri, 20 Jul 2018 20:38:00 GMT

Mitigation of climate change advanced another step on July 19 with the second setback in less than a month to legal abuse of complex controversy.

 

Byco commissions Pakistan’s largest isom plant
Fri, 20 Jul 2018 20:06:00 GMT

Byco Petroleum Pakistan subsidiary Byco Isomerisation Pakistan (Private) has completed startup of Pakistan’s largest isomerization unit at its plant at Mauza Kund, Sub Tehsil Gadani, District Lasbella, Baluchistan.

Quadrant group finds oil with Dorado wildcat
Fri, 20 Jul 2018 17:57:00 GMT

The Perth-based joint venture of Quadrant Energy Ltd. and Carnarvon Petroleum Ltd. has made an oil discovery with its Dorado-1 wildcat well in permit WA-437-P in the Bedout subbasin off northwest Western Australia.

Northern Territory government releases fracing implementation plan
Fri, 20 Jul 2018 17:49:00 GMT

The Northern Territory government has announced its plan to implement the recently released recommendations of the independent scientific inquiry into the unconventional practice of hydraulic fracturing.

Baker Hughes: US rig count down 8 units to 1,046
Fri, 20 Jul 2018 17:27:00 GMT

The US drilling rig count reached 1,046 units working for the week ended July 20, down 8 rigs from a week ago, according to Baker Hughes data. The count is up 96 units from this time a year ago when the count stood at 950.

A coal, nuclear power bailout may cost more than $34 billion, study says
Fri, 20 Jul 2018 17:16:00 GMT

A Trump administration plan to bail out otherwise uneconomical coal-fired and nuclear power plants potentially could cost consumers more than $34 billion over a 2-year period, a study commissioned by the Natural Gas Supply Association, American Petroleum Institute, and four other national energy associations concluded.

Oil industry groups welcome proposals to change parts of the ESA
Fri, 20 Jul 2018 16:50:00 GMT

Oil and gas industry associations welcomed the Trump administration’s proposals to revise portions of the Endangered Species Act so they are more clear and consistent. Officials from the US Fish & Wildlife Service and the National Oceanic and Atmospheric Administration jointly announced the proposed changes on July 19.

Jemena completes Northern Gas Pipeline construction
Fri, 20 Jul 2018 16:12:00 GMT

Energy infrastructure company Jemena has reported that construction of Australia’s 622-km Northern Gas Pipeline (NGP) has been completed. The line extends from Tennant Creek in the Northern Territory to Mt. Isa in Queensland and connects the Amadeus to Darwin pipeline Northern Territory grid with the Queensland (and South Australian) grids.

Woodside exits Port Arthur LNG development
Fri, 20 Jul 2018 15:40:00 GMT

Woodside Petroleum Ltd., Perth, has exited the Sempla Energy-led Port Arthur LNG gas export development project in Texas. Woodside joined the project 3 years ago but is now citing lower-than-expected returns than would justify the investment as the reason for walking away.

ADNOC, CNPC to explore more cooperation
Fri, 20 Jul 2018 15:27:00 GMT

Abu Dhabi National Oil Co. and China National Petroleum Corp. have signed a “strategic cooperation framework agreement” covering oil and gas opportunities beyond those in which they already work together.

ExxonMobil PNG-LNG group signs sale agreement with PetroChina
Fri, 20 Jul 2018 15:18:00 GMT

The ExxonMobil Corp.-led PNG-LNG joint venture in Papua New Guinea has signed a midterm LNG sale and purchase agreement with PetroChina International (Hong Kong) Corp. Ltd. for the supply of LNG from the Southern Highlands project beginning this month.

HPCL lets contract for unit at Visakh refinery
Fri, 20 Jul 2018 15:04:00 GMT

Hindustan Petroleum Corp. Ltd. has let a contract to TechnipFMC PLC to provide licensing, engineering, procurement, construction, and commissioning services on a hydrogen generation unit (HGU) at its 8.3 million-tonne/year Vishakhapatnam (Visakh) refinery in Andhra Pradesh on India’s southeastern coast.

MARKET WATCH: NYMEX oil prices rebound after Saudi production statement
Fri, 20 Jul 2018 14:19:00 GMT

Light, sweet crude oil prices dropped in intraday trading July 19 in New York on continued oversupply fears as output from the US and Saudi Arabia both increased, but a strong statement from the Saudis on July 19 boosted prices to settle higher.

Major utilities continue to increase spending on U.S. electric distribution systems
Fri, 20 Jul 2018 13:00:00 GMT
Spending on electricity distribution systems by major U.S. electric utilities—representing about 70% of total U.S. electric load—has risen 54% over the past two decades, from $31 billion to $51 billion annually. This increase has been largely driven by increases in capital investment. From 1996 to 2017, annual capital investment by these utilities for electric distribution systems nearly doubled, which was similar to increases in transmission investment over the same time period.
Japanese tech giant Fujitsu commits to 100 percent renewable electricity
Fri, 20 Jul 2018 11:08:00 GMT
Fujitsu has big plans when it comes to sustainability and the environment. 
The big ideas that could transform the way planes impact the environment
Fri, 20 Jul 2018 07:02:00 GMT
How can innovation and clever design help the aviation industry become greener? 
US crude rises $1, settling at $70.46, but posts 3rd straight weekly loss
Fri, 20 Jul 2018 01:20:00 GMT
Concerns about oversupply and the ongoing trade conflict between the United States and China weighed on oil markets.
Reimposing Iran oil sanctions may be difficult for US, speakers say
Thu, 19 Jul 2018 20:55:00 GMT

Reimposing sanctions aimed at Iran’s crude oil exports could prove harder than some members of the Trump administration apparently believe, speakers suggested at a July 18 Atlantic Council discussion.

Judge throws out New York City's climate change lawsuit against 5 major oil companies
Thu, 19 Jul 2018 20:47:00 GMT
A federal judge on Thursday threw out a lawsuit brought by New York City against Exxon Mobil, Chevron and other oil companies for their role in contributing to climate change.
Escalation of trade war clouds cheery US economic news
Thu, 19 Jul 2018 19:37:00 GMT
USVI, ArcLight float plan to restart St. Croix refining complex
Thu, 19 Jul 2018 19:28:00 GMT
Senators of the 32nd Legislature of the US Virgin Islands will hold a special session next month to evaluate a proposed $1.4-billion operating agreement between the government and ArcLight Capital Partners LLC, Boston, that could lead to the restart of the previously idled 500,000-b/d refinery at Limetree Bay, on the island of St. Croix
Edmonton MP gets Canadian resources job
Thu, 19 Jul 2018 17:51:00 GMT

An Edmonton member of the Canadian Parliament voiced support of the Trans Mountain Pipeline expansion after being sworn in as minister of natural resources on July 18.

US Senate Democrats, Sanders oppose post-Macondo rule change proposals
Thu, 19 Jul 2018 17:41:00 GMT

Twenty-one US Senate Democrats and Independent Bernie Sanders (Vt.) expressed their opposition to what they said are Trump administration plans to roll back offshore blowout preventer (BOP) system and well control regulations imposed following the 2010 Macondo well’s destruction and subsequent massive crude oil spill.

Study targets marginal discoveries off UK
Thu, 19 Jul 2018 16:38:00 GMT

A research center based in Aberdeen and supported by the UK and Scottish governments is seeking low-cost ways to develop marginal oil and gas discoveries on the UK Continental Shelf. The Oil & Gas Technology Center (OGTC) says its Facility of the Future initiative targets 3.5 billion bbl of reserves.

ADNOC lets contracts to CNPC unit for deep seismic survey
Thu, 19 Jul 2018 15:46:00 GMT

Abu Dhabi National Oil Co. (ADNOC) has let contracts worth $1.6 billion for what it is calling the world’s largest continuous 3D onshore and offshore seismic survey, covering as much as 53,000 sq km. Survey results will pinpoint potential reservoirs at depths of up to 25,000 ft.

Fire hits Saudi Aramco’s Riyadh refinery
Thu, 19 Jul 2018 15:23:00 GMT

Saudi Aramco has extinguished a minor fire that broke out on July 18 at its 126,000-b/d refinery in Riyadh. Aramco fire protection crews and civil defense firefighters brought the fire under control shortly after it occurred, the operator said in a post to its official Twitter account.

MARKET WATCH: NYMEX crude oil prices drop after US oil inventory rise
Thu, 19 Jul 2018 14:48:00 GMT

Light, sweet crude oil prices rose for a second consecutive day on July 18 in New York but dropped in early July 19 trading as market participants considered a rising US oil inventory and rising production.

Setback for Trump: Saudi Arabia won't export much more oil this month, official says
Thu, 19 Jul 2018 14:04:00 GMT
Saudi Arabia's oil exports will be little changed in July after production rose by nearly 500,000 barrels a day last month, according to the kingdom's OPEC governor.
Crossover utility vehicles overtake cars as the most popular light-duty vehicle type
Thu, 19 Jul 2018 13:00:00 GMT
Trends in the sales shares of new light-duty vehicles by vehicle type have continued as the crossover utility vehicle (CUV) share of light-duty vehicles has increased, largely at the expense of cars, despite increases in gasoline prices over the previous two years. In each month since September 2017, sales of CUVs have exceeded those of cars, a class that includes sedans, hatchbacks, and sports cars.
The oil market is becoming increasingly dangerous, analysts say — and crude prices are feeling the pressure
Thu, 19 Jul 2018 12:12:00 GMT
The oil market is likely to become progressively more unpredictable over the coming months, analysts have told CNBC, in the latest sign dynamics shaping crude futures have dramatically shifted since the crude rally began.
Worried by tariffs, lawmakers challenge executive activism
Thu, 19 Jul 2018 12:07:00 GMT

Finally, Congress is finding its voice.

 

Facebook data center in Oregon to be supported by renewable energy
Thu, 19 Jul 2018 11:40:00 GMT
The tech giant is looking to green its data center operations. 
Norsk Hydro subsidiary signs world’s ‘longest’ corporate wind power contract
Thu, 19 Jul 2018 11:16:00 GMT
The wind power contract with the Green Investment Group will last 29 years. 
More turmoil in Iraq as deadly protests ravage oil-rich south
Thu, 19 Jul 2018 09:03:00 GMT
The unrest threatens to delay formation of a new government and has already led to break-ins to oil facilities and political offices.  
US crude rises 1%, settling at $69.46, boosted by report of falling stockpiles at delivery hub
Thu, 19 Jul 2018 01:20:00 GMT
Brent crude fell on Thursday as concerns about mounting supply returned after a brief rally on comments that Saudi Arabia's exports would fall in August.
Oil industry, ethanol witnesses cite different grievances with RFS
Wed, 18 Jul 2018 18:09:00 GMT

Witnesses from the American Petroleum Institute and the Renewable Fuels Association appeared equally dissatisfied with the US Environmental Protection Agency’s recently proposed 2019 biofuel quotas under the Renewable Fuel Standard at a public hearing in Ypsilanti, Mich.

Northern continues to increase Williston basin inventory
Wed, 18 Jul 2018 17:58:00 GMT

Northern Oil & Gas Inc. will acquire a North Dakota asset currently producing more than 4,100 boe/d from Tailwater Capital LLC-backed Pivotal Petroleum Partners for $68.4 million in cash and 25.75 million shares of common stock.

EIA: US crude stockpiles increase 5.8 million bbl
Wed, 18 Jul 2018 17:52:00 GMT

US crude oil inventories, excluding the Strategic Petroleum Reserve, reversed course from the prior week’s draw with a 5.8 million-bbl increase for the week ended July 13, according to US Energy Information Administration data.

IEA: Global energy investment decline for third straight year
Wed, 18 Jul 2018 17:44:00 GMT

Global energy investment declined for the third consecutive year in 2017 to $1.8 trillion, a shortfall of 2% in real terms from the previous year, according to the recently released World Energy Investment 2018 report from the International Energy Agency.

SOCAR Polymer commissions polypropylene plant
Wed, 18 Jul 2018 17:28:00 GMT

SOCAR Polymer, a subsidiary of state-owned State Oil Co. of Azerbaijan Republic, started up the country’s first polypropylene plant in the Sumgait Chemical Industrial Park about 30 km north of Baku.

Blue Mountain starts up Merge-SCOOP-STACK gas plant
Wed, 18 Jul 2018 17:19:00 GMT

Blue Mountain Midstream, a subsidiary of Linn Energy, has commissioned its Chisholm Trail III cryogenic gas plant in the heart of the liquids-rich Merge-SCOOP-STACK play in central Oklahoma.

Enterprise to build deepwater crude export terminal in US Gulf
Wed, 18 Jul 2018 17:05:00 GMT

Enterprise Products Partners LP plans to develop a crude oil export terminal off the Texas Gulf Coast. The terminal would be capable of fully loading very large crude carriers with capacities of about 2 million bbl. Enterprise has started front-end engineering and design and preparing applications for regulatory permitting.

FERC moving ahead on LNG project applications, chairman says
Wed, 18 Jul 2018 16:48:00 GMT

Denying a report that the US Federal Energy Regulatory Commission notified LNG project sponsors that there would be a 12-18 month delay in processing applications, Chairman Kevin McIntyre said the commission has made significant strides “in reforming the permitting process in working with federal partners, eliminating duplicative processes, and streamlining procedures that will significantly reduce our LNG permitting timelines.”

Hengli lets contract for Dalian integrated complex
Wed, 18 Jul 2018 16:24:00 GMT

Hengli Petrochemical (Dalian) Refinery Co. has let a contract to Rotork to supply electric and pneumatic valve actuators and valve gearboxes for flow control at its integrated 20 million-tonne/year crude-to-paraxylene refining and petrochemical project in Hengli Petrochemical Industrial Park on Changxing Island in Dalian, China.

MARKET WATCH: Oil prices gain despite talk of rising US, Saudi crude supply
Wed, 18 Jul 2018 16:17:00 GMT

Light, sweet oil prices settled slightly higher on the New York market July 17 after dropping to the lowest level nearly a month earlier on expectations of additional crude oil likely becoming available to world markets.

Trump administration opens investigation into uranium imports, potentially teeing up new tariffs
Wed, 18 Jul 2018 14:33:00 GMT
The Commerce Department is opening an investigation into whether imports of uranium — the chemical element that fuels nuclear power — pose a risk to national security.
Permian region natural gas prices fall as production continues to grow
Wed, 18 Jul 2018 13:00:00 GMT
The natural gas spot price spread between the Permian Basin, as priced at the Waha Hub in western Texas, and the U.S. national benchmark Henry Hub in Louisiana has grown considerably in the past year. Natural gas prices at Waha are nearly a dollar per million British thermal units (MMBtu) lower than Henry Hub prices. This spread widened as the ability to transport the increased natural gas production in the Permian Basin in western Texas and southeastern New Mexico was constrained by existing pipeline capacity.
Freight powerhouse embraces renewable electricity as it looks to green operations
Wed, 18 Jul 2018 12:06:00 GMT
The leading rail freight business in Britain is turning to renewable electricity. 
Marks and Spencer inks deal to offer customers 100 percent green energy
Wed, 18 Jul 2018 11:20:00 GMT
Energy and services will be supplied under the M&S Energy brand. 
US crude rises 1%, settling at $68.76, on strong gasoline demand signals
Wed, 18 Jul 2018 01:08:00 GMT
Oil benchmark Brent crude hit a three-month low on Wednesday after a rise in U.S. crude inventories highlighted increasing global supply and concerns over weak demand.
Medallion launches open season for expansion of Midland oil line
Tue, 17 Jul 2018 20:21:00 GMT

Medallion Pipeline Co. LLC, Irving, Tex., has launched a binding open season to solicit long-term, firm shipper commitments for a major expansion of its crude oil pipeline system in the Midland basin.

The natural-gas pipeline from Russia to Germany has split Europe down the middle
Tue, 17 Jul 2018 18:28:00 GMT
The natural gas pipeline from Russia to Germany has split Europe down the middle and set Germany on a collision course with some of its closest allies, the Financial Times reports.
Petrobras lets subsea services contract to TechnipFMC in Brazil
Tue, 17 Jul 2018 17:43:00 GMT

Petroleo Brasileiro SA (Petrobras) has awarded a 3-year master services agreement to TechnipFMC in Brazil, with a 2-year renewal option. The subsea services contract covers components for both the subsea equipment and flexible pipelines.

Global gas flaring declined in 2017 after years of growth, data show
Tue, 17 Jul 2018 17:24:00 GMT

Flaring of gas at crude-oil production sites worldwide went down in 2017 despite a 0.5% increase in production, the World Bank’s Global Gas Flaring Reduction Partnership reported. The nearly 5% year-to-year decline began to reverse years of increases that began in 2010, it said.

Cuadrilla drills second shale-gas well
Tue, 17 Jul 2018 17:02:00 GMT

Privately owned Cuadrilla has drilled what it says is the UK’s second horizontal shale-gas well on its prospect at Preston New Road, Lancashire, UK. The well penetrated the Carboniferous Upper Bowland shale at about 2,100 m with a 750-m lateral.

Transocean announces rig contracts with ConocoPhilllips, Chevron
Tue, 17 Jul 2018 16:53:00 GMT

ConocoPhillips has let a 13-well contract to Transocean for the Transocean 712 semisubmersible drilling rig in the UK North Sea. Separately, Chevron Corp. signed an 11-well contract for Transocean’s GSF Development Driller I ultradeepwater semisubmersible drilling rig for work offshore Australia.

Marathon renews, expands hydrogen-supply contract for Galveston Bay refinery
Tue, 17 Jul 2018 15:46:00 GMT

Marathon Petroleum Corp. has renewed and expanded a long-term contract with Praxair Inc. for supply of hydrogen to Marathon’s 571,000-b/d Galveston Bay refinery in Texas City, Tex.

Meridian lets contract for civil construction of North Dakota refinery
Tue, 17 Jul 2018 15:36:00 GMT

Meridian Energy Group has let a contract to SEH Design|Build—a subsidiary of Short Elliott Hendrickson—to deliver site, civil design, and construction services for Meridian’s recently approved grassroots 49,500-b/sd high-conversion Davis refinery to be built in Billings County in the heart of southwestern North Dakota’s Bakken shale region.

Gazprom to develop giant Yamal gas field
Tue, 17 Jul 2018 15:11:00 GMT

Gazprom will take measures to prevent melting of permafrost as it develops giant Kharasaveyskoye gas-and-condensate field on the Yamal Peninsula in arctic Russia. Full-scale development will start next year, according to Gazprom officials meeting in Bovanenkovo in the Yamal-Nenets Autonomous Area.

MARKET WATCH: Brent crude oil for September plunges nearly $3.50/bbl
Tue, 17 Jul 2018 14:06:00 GMT

The Brent crude oil contract for September delivery plunged by nearly $3.50/bbl on the London market July 16 while light, sweet crude oil prices dipped nearly $3/bbl to the lowest level in 3 weeks on the New York market.

Volcanic lava flows continue to affect geothermal power generation on Hawaii’s Big Island
Tue, 17 Jul 2018 13:00:00 GMT
Lava flows from the Kilauea volcano on the island of Hawaii led to the shutdown of the Puna Geothermal Venture (PGV) power plant on May 3, 2018. The 38-megawatt (MW) facility is the only geothermal plant on the island, and it produced about 29% of the island’s electricity generation in 2017. The plant voluntarily ceased operations ahead of the approaching lava flow.
US crude rises 2 cents, settling at $68.08, rebounding from sell-off in choppy trading
Tue, 17 Jul 2018 10:00:00 GMT
Crude oil futures steadied on Tuesday afternoon following a choppy session, as worries over supply disruptions eased and the focus moved to increasing production.
Investment in energy fell again in 2017, raising fresh concerns about security and climate change
Tue, 17 Jul 2018 07:01:00 GMT
The world invested $1.8 trillion into the energy sector last year, down 2 percent from the previous year, the International Energy Agency reported.
Never mind the pullback, technical analysis shows oil is headed for a rebound
Tue, 17 Jul 2018 01:02:00 GMT
The pullback in oil prices takes place within the environment of a well-established uptrend, writes Daryl Guppy.
Cramer Remix: You should be buying the oil stocks here
Mon, 16 Jul 2018 22:59:00 GMT
Jim Cramer explains that even though the price of oil is dropping, now could be the time to buy shares of oil companies.
A pattern in Colorado
Mon, 16 Jul 2018 19:43:00 GMT
Environmental opposition to oil and gas work follows a pattern. It even repeats itself. For the second time, opponents of hydraulic fracturing of oil and gas wells in Colorado are petitioning for setback requirements that would preclude drilling in much of the state.
ExxonMobil-led JV submits Rovuma LNG plan to Mozambique
Mon, 16 Jul 2018 19:37:00 GMT

The Exxon Mobil-led Mozambique Rovuma Venture SPA submitted its development plan to Mozambique’s government for the first phase of the Rovuma LNG project, which will produce, liquefy, and market natural gas from Mamba fields in Area 4 block offshore Mozambique. 

Watching Government: Post-Pruitt EPA will carry on
Mon, 16 Jul 2018 19:32:00 GMT
The most immediate question, after US Environmental Protection Agency Administrator E. Scott Pruitt resigned on July 6, was whether reforms he had launched would continue. They will, Acting EPA Administrator Andrew Wheeler told the agency’s employees on July 11.
EIA: Brent will remain above $70/bbl this year
Mon, 16 Jul 2018 19:23:00 GMT
Brent crude oil spot prices averaged $74/bbl in June, a decrease of almost $3/bbl from the May average.
Permits, progress, and what Davis could mean for future refineries
Mon, 16 Jul 2018 19:06:00 GMT
The North Dakota Department of Health’s division of air quality cleared the way for Meridian Energy Group Inc. to begin construction of its grassroots 49,500-b/sd high-conversion Davis refinery in Billings County east of the Fryburg Rail Facility in Belfield, ND (OGJ Online, June 13, 2018).
Mexico’s energy future at a crossroads
Mon, 16 Jul 2018 18:56:00 GMT
Mexico has experienced steep oil production declines in recent years despite a constitutional amendment, legislation, and regulatory measures opening the door to foreign investment in oil and gas for the first time since the 1930s. In 2017, among the world’s major oil producers, Mexico’s 9.6% decline was second only to Venezuela’s decline of 12.6%, according to Raymond James estimates.
Egyptian appraisal tests 30.4 MMscfd of gas
Mon, 16 Jul 2018 17:53:00 GMT

The SDX Energy Inc. SD-4X appraisal well in Egypt flowed as much as 30.4 MMscfd during an 8-hr clean-up and showed no pressure decline when shut in for 8 hr.

Norwegian oil strike set to expand
Mon, 16 Jul 2018 17:44:00 GMT

A strike by workers in Norway’s offshore oil and gas industry was set to expand July 16 when labor unions and ship owners said they planned no talks to settle a dispute over wages and pension benefits.

Putin suggests Russia and US could work together to regulate oil prices
Mon, 16 Jul 2018 17:24:00 GMT
Russian President Vladimir Putin suggested that Moscow and Washington could cooperate to soothe volatility in the oil market that has roiled the industry in recent years.
US crude sinks 4.2%, settling at $68.06, after Treasury Dept eases market's Iran sanctions fears
Mon, 16 Jul 2018 13:05:00 GMT
Treasury Secretary Steve Mnuchin said some crude importers may receive waivers to continue buying supplies from Iran, despite U.S. sanctions on the Middle Eastern country. 
U.S. refinery capacity virtually unchanged between 2017 and 2018
Mon, 16 Jul 2018 13:00:00 GMT
As of January 1, 2018, U.S. operable atmospheric crude distillation capacity totaled 18.6 million barrels per calendar day (b/cd), a slight decrease of 0.1% since the beginning of 2017 according to EIA’s annual Refinery Capacity Report. Annual operable crude oil distillation unit (CDU) capacity had increased slightly in each of the five years before 2018.
Elon Musk opens Tesla Model 3 sales to all, but auto experts give 3 reasons why you may want to wait
Sun, 15 Jul 2018 12:55:00 GMT
Tesla announced this week that, for the first time, any car buyer can put in a purchase order for a Model 3, but auto-market experts say there are reasons for consumers to think twice, from price to tax rebates.
Amazon Prime Day hauls will be more expensive to ship this year
Sat, 14 Jul 2018 12:00:00 GMT
Amazon's fourth annual Prime Day comes amid rising fuel costs. 
Trump is exaggerating Germany's reliance on Russia for energy
Fri, 13 Jul 2018 19:02:00 GMT
Trump claimed Germany could soon get 70 percent of its energy from Russia, but the forecast is doubtful.
Trump reportedly considers tapping emergency oil supplies to tame crude prices
Fri, 13 Jul 2018 18:52:00 GMT
The Trump administration is reportedly considering selling 5 million to 30 million barrels of oil from the Strategic Petroleum Reserve.
The sleeping giant of the Middle East is stirring, with billions of dollars eyeing it
Fri, 13 Jul 2018 12:58:00 GMT
Kuwait has been one of the least attractive Middle East markets for investors, but plans from index providers to upgrade Kuwait to emerging markets status is boosting stocks.
Novozymes and Novo Nordisk sign deal to source power from Denmark’s largest wind farm
Fri, 13 Jul 2018 11:42:00 GMT
The wind farm will be located in the Baltic Sea off the coast of Denmark. 
Here’s how sails and liquefied natural gas could transform the shipping industry
Fri, 13 Jul 2018 07:24:00 GMT
Technology and clever thinking could transform the way ships move around our oceans and seas. 
US crude rises 1%, settling at $71.01, but posts 2nd straight weekly loss
Fri, 13 Jul 2018 02:11:00 GMT
Oil supply worries eased this week after Libyan ports reopened and Washington signaled Iran might still export some crude despite U.S. sanctions.
Despite takeaway capacity constraints, the Permian region is expected to drive U.S. crude oil production growth through 2019 (7/18/2018)

In the July update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 10.8 million barrels per day (b/d) in 2018 and 11.8 million b/d in 2019. If realized, both of these forecast levels would surpass the previous record of 9.6 million b/d set in 1970. EIA's monitoring of current rig activity in several producing regions suggests continued production growth from tight-oil formations, such as shale in the Permian region, is driving overall U.S. production increases (Figure 1). ...
EIA expects Brent crude oil prices to average $73 per barrel in the second half of 2018, then fall to $69 per barrel in 2019 (7/11/2018)

In the July 2018 update of its Short–Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $73 per barrel (b) in the second half of 2018 and $69/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average $7/b lower than Brent prices in the second half of 2018 and $7/b lower in 2019 (Figure 1). ...
EIA uses gasoline product supplied as a proxy for demand, not retail consumption (7/5/2018)

Many analysts use the motor gasoline product supplied data in the U.S. Energy Information Administration's (EIA) Weekly Petroleum Status Report (WPSR) to discern trends in U.S. gasoline consumption. To interpret the data effectively, it is important to understand what product supplied is and what it is not. The large scale and timing of each of the components of product supplied can sometimes lead to week-to-week changes in product supplied volumes that are not indicative of actual consumption patterns. Because of these dynamics, finished motor gasoline product supplied measured using a four-week rolling average is a more robust method of discerning trends. ...
U.S. refinery capacity virtually unchanged between 2017 and 2018 (6/27/2018)

As of January 1, 2018, U.S. operable atmospheric crude distillation capacity totaled 18.6 million barrels per calendar day (b/cd), a slight decrease of 0.1% since beginning of 2017 according to the U.S. Energy Information Administration's (EIA) recently released Refinery Capacity Report. Annual operable crude oil distillation unit (CDU) capacity had increased each of the five years before 2018 and has remained greater than 18 million b/cd since January 1, 2016. The capacities of secondary units that support heavy crude oil processing and production of ultra-low sulfur diesel and gasoline, including thermal cracking (coking), catalytic hydrocracking, and hydrotreating/desulfurization, increased slightly from year-ago levels. These downstream capacity increases are primarily the result of debottlenecking-when refineries increase the throughput of existing infrastructure-rather than large new builds (Figure 1). ...
TGS announces expansion of onshore seismic project in Canada

TGS announces expansion of its 2018 onshore seismic survey Dawson Phase II in Canada.
Lukoil takes FID on Rakushechnoye project, in the Caspian Sea

Lukoil took the final investment decision on the Rakushechnoye field development project in the Caspian Sea.
Oil set for weekly drop as Trump issues new trade threats

Oil headed for a third weekly loss amid concern escalating trade rows would undercut energy demand, undermining reassurances from Saudi Arabia that it won’t flood global crude markets.
Shell in talks to sell $2-billion Nigeria oil assets

Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan.
Saudis pump more oil for Trump, then doubt if it's needed

Under pressure from U.S. President Donald Trump, Saudi Arabia has rushed to boost oil production -- only to discover that global markets might not yet need it.
Schlumberger, Baker Hughes cruise oil exploration "upcycle"

Schlumberger Ltd., the world’s biggest oilfield services company, and No. 3 Baker Hughes have their sights set in different directions as they move into the second-half of 2018.
China chasing elusive shale boom nearly a decade after hunt began

China’s shale gas industry began with a long shot.
New York's global warming suit against oil companies tossed

A U.S. judge threw out New York’s suit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change.
Rainforest reserve may be opened in Congo oil search

The Democratic Republic of Congo is considering whether to open up swathes of two world-famous national parks to oil exploration.
Henderson opens new service center in Odessa, Texas

Henderson, drilling rig and capital drilling equipment sales and service provider, has opened a new service center in Odessa, Texas, to expand its service capabilities.
Crude advances as Saudi Arabia dismisses oversupply speculation

Crude pushed higher after Saudi Arabia pledged not to flood world markets with oil.
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