Energy

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Planting Trees Could Cut Emissions As Much As Quitting Oil.

Planting more forests and managing land use better could be the biggest natural climate solution, because nature could deliver more than 30 percent of the emissions reduction needed to curb dangerous levels of global warming—equal to the world completely stopping the burning of oil, according to a new study.   The study ...

- OilPrice.com - US

Wood to Design Pioneering LNG Platform.

Offshore facility to liquefy, store gas from Texas' Permian Basin.

- Rigzone.com - US

Kirkuk crisis redraws northern Iraq's oil map.

Federal forces are advancing deep into disputed territories beyond Kirkuk, fundamentally changing the balance of power over oil in northern Iraq.

- Iraq Oil Report - US

Enbridge’s Alberta Clipper capacity increase receives US approval.

Enbridge Energy LP received a presidential permit from the US State Department authorizing it to increase transport up to full design capacity of roughly 890,000 b/d across a 3-mile segment of its Line 67 Alberta Clipper crude oil pipeline at the US-Canada border near Neche, ND, for continued shipment to an existing ...

- OGJ - US

Big Oil To Bet On Petrochemicals As Demand Peak Looms.

Remember that This Ain't Your Daddy's Oil' commercial that blew up on Twitter at this year's Super Bowl? It was about crude oil being used for things other than fuels—useful, sometimes indispensable things. Like it or not, this is what the future holds for the industry, according to a new report from Wood Mackenzie. The ...

- OilPrice.com - US

Oil Near $52 After Industry Data Shows Crude Stockpile Draw.

Oil was little changed after an industry report was said to show US crude stockpiles fell, while supplies of products gained.

- Rigzone.com - US

The Natural Gas Market Is Set To Boom.

Lower-for-longer oil prices and the advance of renewable energy and electric vehicles have made Big Oil plan for a gradual shift toward natural gas in their production portfolios.   All current projections point to natural gas as the fastest-growing fossil fuel in the energy mix for decades to come. Pitched as the cleanest ...

- OilPrice.com - US

CEO: MET International Plans To Boost LNG Trades In 2018.

MET International AG plans to boost its LNG trades in Europe next year.

- Rigzone.com - US

Enbridge Pipeline Expansion Finally Approved.

Enbridge will be able to double the capacity of its Line 67 crude oil pipeline from Edmonton, in Alberta, to Superior, Wisconsin, after the U.S. State Department granted it a permit for the facility after a lengthy review process. After the expansion, the pipe will be able to carry up to 890,000 bpd, from the current ...

- OilPrice.com - US

Half A Million Bpd At Risk From Geopolitical Firestorm.

It's been a long time since geopolitical developments caused major movements in the oil price, but the escalating tension between the U.S. and Iran, combined with the sudden military clashes in Iraq, has pushed geopolitical risk back on to the agenda for the oil market. Geopolitical risks to the oil market have continued to ...

- OilPrice.com - US

Small-Scale FLNG Consortium Eyes Australia Pilot Site.

Norway's Add Energy, Australia's Transborders Energy and other partners will pick a site early next year for a low-cost FLNG development.

- Rigzone.com - US

Avenue Capital Urges Ocean Rig To Hire Advisers

Ocean Rig UDW's fifth-biggest investor Avenue Capital Group urged the offshore driller to hire advisers to review 'opportunities.'

- Rigzone.com - US

ISIS' brutal past, shrinking present, and uncertain future

The Islamic State of Iraq and Syria , responsible for some of the worst atrocities perpetrated against civilians in recent history, is on the verge of collapse. After brutalizing residents living under its command for more than three years, the militants have now lost their self-proclaimed capital of Raqqa and are ...

- Iraq Oil Report - US

UAE Oil Giant Seeks Partnership For Possible IPO

Even though the UAE's oil firm ADNOC is seeking partnerships and exploring a possible IPO of minority stakes in some of its services units, at the holding company level ADNOC will remain wholly owned by the Abu Dhabi Government, ADNOC group CEO Sultan Ahmed Al Jaber said at the Oil and Money Conference in London on Tuesday. ...

- OilPrice.com - US

Goldman Sees Geopolitics Haunting Oil Again With Unclear Effects

The oil market is grappling with intensifying geopolitical risks.

- Rigzone.com - US

Shell Shale Leader Discusses the 'Non-Moonshot'

Collaboration, repurposing tech will help company to achieve 'shale field of the future,' says exec.

- Rigzone.com - US

Goldman: U.S.-Iran Standoff Is A Long-Term Threat To Oil Supply

While the Kurdistan-Iraq standoff is a risk to shorter-term oil production, the increased tensions between neighboring Iran and the U.S. are a longer-term and bigger threat to global oil supplies, according to Goldman Sachs. On Friday, U.S. President Donald Trump said he was officially withdrawing his certification of ...

- OilPrice.com - US

Oil Fundamentals Overturn Geopolitical Risk

Oil posted gains on Monday on news that the Iraqi military had seized control of Kirkuk, but oil fundamentals and the large supply capacity of both OPEC and U.S. shale saw prices fall back on Tuesday.  - U.S. oil production will average 9.4 million barrels per day in the second half of 2017, according to the EIA, an ...

- OilPrice.com - US

China To Take 5% Of Rosneft's Output In New Deal

CEFC China Energy is set to gain up to 260,000 barrels per day of oil supplies from Russia as part of its recent deal with Moscow to invest $9.1 billion in the Russian state oil giant Rosneft, according to a new report by Reuters. The recurring shipments will mean China will take five percent of Rosneft's output, which ...

- OilPrice.com - US

Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw

Crude oil inventories are still coming down. The American Petroleum Institute reported a huge draw of 7.130 million barrels in United States crude oil inventories, compared to an S&P Platts' survey of analysts that expected inventories would draw down by 3.9 million barrels for the week ending October 13. Gasoline ...

- OilPrice.com - US

Oil Gains Spur Growth In Canada's Oil Cities

A modest rebound in oil and gas prices in international markets has given Calgary and Alberta the distinction of being the fastest growing metropolitan areas in Canada this year, according to a report by The Conference Board of Canada carried by Markets Insider "The worst appears to be over for Calgary and Edmonton. ...

- OilPrice.com - US

Oil Search reaches record production in third quarter

Sydney and Port Moresby company Oil Search Ltd. has notched up its highest ever production volumes during the third quarter, most of it thanks to the rise in output from the ExxonMobil Corp.-operated Papua New Guinea-LNG project.

- OGJ - US

Capline Owners Gauge Interest in Pipeline Reversal

Marathon Pipe Line, Plains All American, BP may convert crude pipeline's flow from northbound to southbound.

- Rigzone.com - US

Iraq ousted ISIS, but 'Mosul can never be the same again'

A few days ago, Mahmoud Saeed boarded a plane for a trip that is sure to be filled with trepidation. The acclaimed Iraqi author had not seen his beloved hometown in six long years. And while Mosul had been freed from the so-called Islamic State, it would never be the same. He knew that when

- Iraq Oil Report - US

Offshore expertise helping Norway in Barents Sea, official says

More than 5 decades of success off its coast farther south is helping Norway move ahead in seeking additional oil and gas resources in the Barents Sea, a government official indicated on Oct. 17.

- OGJ - US

Russia's Novatek Says Yamal LNG Seen Expanding By 1 Million Tonnes

Novatek plans to expand the Yamal LNG project by one more train.

- Rigzone.com - US

CNOOC’s Huizhou refinery completes 10 million-tpy expansion

CNOOC Oil & Petrochemicals Co. Ltd., the refining arm of China National Offshore Oil Corp. , has commissioned the Phase 2 expansion of subsidiary CNOOC Huizhou Refining & Chemical Co. Ltd.’s 12 million-tonne/year integrated refining complex at the Daya Bay Economic & Technological Development Zone in Huizhou in ...

- OGJ - US

Newest Outpost For US Crude Exports: India

India is set to emerge as a key market for American crude exports in coming months.

- Rigzone.com - US

Nonbinding open season launched for Calpine pipeline reversal

Plains All American Pipeline LP, Marathon Petroleum Corp., and BP Oil Pipeline Co. are launching a nonbinding open season to gauge shipper interest in a proposed reversal of their 40-in., 1.2 million-b/d Capline pipeline that transports crude oil from St. James, La., to Patoka, Ill.

- OGJ - US

MARKET WATCH: Middle East political tensions support oil prices

Crude oil prices rose modestly on the New York market Oct. 16 with the December contract settling above $52/bbl on what analysts called continuing political tensions in the Middle East. Crude prices continued to rise Oct. 17.

- OGJ - US

Total's CEO Says Will Try To Move Ahead With Iran Gas Project

Total will try to push ahead with its Iran gas project if the United States decides to impose unilateral sanctions on Teheran.

- Rigzone.com - US

China's CEFC Eyes Big League With Rosneft Oil Offtake Deal

For China, the world's top crude importer, having access to Russian oil would be a big step towards its ambition to create a globally integrated oil supply chain.

- Rigzone.com - US

Finally: A Way To Invest In Blockchain

Most American investors missed the first boat on the wildly profitable cryptocurrency market, which hit $158 billion in August and is set to hit nearly $3 trillion by 2023. Now, another boat is setting sail, and this time there's an easy way to get onboard. Bitcoin—soaring to $5,000 per coin-- is now worth ...

- OilPrice.com - US

Mission Still Not Accomplished in Iraq

In July 2017, Iraqi soldiers, backed by U.S. air strikes, liberated Mosul, the city where Abu Bakr al-Baghdadi, the leader of the Islamic State , had declared a caliphate just three years before. It was a hard-won victory. For nine grueling months, Iraq's Counter Terrorism Service, an elite group of U.S.- trained forces, ...

- Iraq Oil Report - US

Iran Ready For OPEC Oil Deal Extension

Iran is ready to take part in a further extension of the OPEC oil production cut deal, the country's Deputy Minister for Trade and International Affairs said at an event yesterday. The cartel is currently discussing extending the deal to the end of 2018 to ensure stable prices but not all agree it is necessary. We are ...

- OilPrice.com - US

Major Crude Oil Draw Sends Oil Prices Higher

A day after API's estimate of a 7.13-million-barrel draw in U.S. oil inventories led benchmark prices higher, the EIA added to bullishness by reporting inventory figures largely in line with API's: it calculated an inventory decline of 5.7 million barrels for the week to October 13. At 456.5 million barrels, the authority ...

- OilPrice.com - US

Iraq Aims To Double Kirkuk Oil Output Capacity To More Than 1 MMbpd

Iraq plans to contract a foreign oil company to almost double the oil production capacity of the northern Kirkuk fields.

- Rigzone.com - US

Emerson Expands Technology Footprint, Acquires Paradigm

Emerson has agreed to acquire Paradigm, a leading provider of software solutions for the oil and gas industry.

- Rigzone.com - US

Iraq Asks BP To Redevelop Kirkuk Oil Fields

Iraqi Oil Minister Jabbar Al-Luiebi has asked BP to develop the oil fields in oil-rich Kirkuk, just a day after Iraq's government forces completed an operation to seize control of all oil fields that Iraqi state-held North Oil Company operates in Kirkuk. Al-Luiebi has asked the UK supermajor ''to quickly make plans to ...

- OilPrice.com - US

VW Fails To Secure Critical Commodity For EVs

In one of the clearest signs of a tight cobalt market, Volkswagen has failed to secure a long-term supply of cobalt used in electrical vehicle batteries. The German carmaker last month put out a tender seeking a five-year supply of the strategic metal at a fixed price. But people familiar with the deal said the offer was ...

- OilPrice.com - US

Honghua Group lets contract for LNG platform in Gulf of Mexico

Honghua Group Ltd. has let a $12-million front-end engineering and design contract to Wood PLC for its LNG platform development in the Gulf of Mexico’s West Delta area.

- OGJ - US

Can India Overtake China In The EV Revolution?

India faces a wide chasm between Prime Minister Narendra Modi's campaign to make sure all new vehicles sold in India are electric by 2030 and actual sales numbers. While India has followed China's lead to reduce air pollution and oil import dependency in its booming cities, it's still far away from sales figures that carry ...

- OilPrice.com - US

Bakken oil in line for export to China

Continental Resources Inc. has sold about 1 million bbl of Bakken oil to Atlantic Trading & Marketing Inc. , which intends to export the oil to China. Daily sales transactions of 33,500 b/d will take place from Cushing, Okla., beginning in November. ATMI will load China-bound tankers in Texas ports to begin the transport ...

- OGJ - US

The U.S. LNG Boom Could Be About To Stall

While speaking before industry executives last June, United States President Donald Trump asserted that he had ended the war on coal' and that America would be dominant' in energy. But where does this all stand now? Much of the Trump administration's hope for achieving dominance requires increasing exports of liquid natural ...

- OilPrice.com - US