Energy

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Shale Rebound Runs Out Of Steam At $40 Oil.

The IEA recently predicted that U.S. shale would grow by at least 430,000 bpd this year, plus another 780,000 bpd in 2018. But those heady growth projections are in doubt with oil prices plunging to their lowest levels in ten months. In fact, lower oil prices come at a time when the industry is struggling to achieve deeper ...

- OilPrice.com - US

$30 Oil Could Spark Contagion In Energy Markets.

If oil prices continue to fall, the financial damage could start to become a concern. A new analysts from Deutsche Bank finds that the high-yield energy market could start to suffer from contagion if oil prices drop to the mid-$30s. At $35 per barrel, for example, the debt-to-enterprise value jumps to over 55 ...

- OilPrice.com - US

Is Your Company Ready for the Next Big Cyber-Attack?.

The recent WannaCry, Fireball and other attacks demonstrate the growing sophistication of cyber-criminals.

- Rigzone.com - US

Pipeline Pinch Adds to Oil-Sands Woes as Keystone Wait Drags.

Producers have little choice but to move those extra barrels by train, with costs two to three times higher than pipeline shipping.

- Rigzone.com - US

Sources: Poland's PKN And Lithuanian Railways Strike Deal Over Costs.

Poland's biggest oil refiner PKN Orlen and Lithuanian Railways have agreed on new oil product transport fees and to end litigation.

- Rigzone.com - US

Germany Moves To Crack Down On Vehicle Emissions.

Germany will discuss a national plan to cut pollution from diesel engines and set up a new organization to test vehicles.

- Rigzone.com - US

Gunvor wraps terminal upgrade, turnaround at Ingolstadt refinery.

Gunvor Raffinerie Ingolstadt GMBH , a subsidiary of Gunvor Group Ltd., Geneva, has completed a major modernization overhaul of loading processes at the distribution terminal of its 107,500-b/d refinery at Ingolstadt, Germany, about 80 km north of Munich.

- OGJ - US

Colombia's Ecopetrol Rubiales Oil Output Hit By Protests.

Ecopetrol has suspended production at some wells in the nation's largest oil field after demonstrators seized the facility.

- Rigzone.com - US

Tullow Pays Down Debt, Raises Profit In First Half Under New CEO.

Tullow Oil further reduces debt in the first half of the year after a surprise cash call in March and made a small increase in gross profit over the period.

- Rigzone.com - US

Palacios Hernandez named Pemex corporate director.

David Armando Palacios Hernandez will succeed Jose Manuel Carrera as corporate director of joint ventures and new business for Petroleos Mexicanos SA. The move is effective July 16.

- OGJ - US

Rosneft Working As Usual Following Cyber-Attack.

Rosneft is working as usual following a cyber-attack, according to a statement on the company's Twitter page.

- Rigzone.com - US

Oil Rebounds Despite Sour Sentiment

Markets remain on edge despite a recent upturn in oil prices. The risk that oil may fall into the mid-$30s is looming and could spell disaster for investors. • Oklahoma has seen a surge of seismic activity over the past several years, and the USGS points the finger at underground injection of wastewater, a practice ...

- OilPrice.com - US

Three-Fourths Of All US Energy Firms Were Hacked In 2016

Hackers have targeted Russian oil giant Rosneft, the company said on Tuesday, just as Deloitte released a report on cyber-attacks targeting U.S. oil companies. A powerful hacker' attacked the company's server in an assault that, according to TASS news agency, could be related to ongoing legal proceedings. A Russian court ...

- OilPrice.com - US

Wind Power's Big Bet: Turbines Taller Than Skyscrapers

Wind farm operators are betting on a new generation of colossal turbines, which will dwarf many skyscrapers.

- Rigzone.com - US

First Gas Delivered from North Sea Field

First gas has been delivered on schedule from the Cayley field, the third and final new discovery to be brought on stream during the major redevelopment of the Montrose Area in the Central North Sea.

- Rigzone.com - US

Many factors could lead to US octane shortage, EIA conference told

US gasoline markets are robust as the summer driving season continues, but several forces could lead to an octane shortage, speakers warned during a June 26 breakout session at the US Energy Information Administration’s 2017 Annual Conference.

- OGJ - US

This Oil Giant Just Landed India's Largest Foreign Investment Deal Ever

I wrote late last year about an unusual trend emerging in oil and gas M&A. Namely, a wave of outgoing global investment from E&P firms in Russia. And news this week confirmed that Russia is on the rise when it comes to global petroleum deals. Russian petro-major Rosneft announced that it is near closing on one of its ...

- OilPrice.com - US

Sources: Pemex Declares Force Majeure On Maya Crude From Pacific Coast

Pemex has declared force majeure over at least two cargoes of Maya crude to be loaded at its Salina Cruz terminal.

- Rigzone.com - US

EIA: US Crude Stockpiles Edge Higher, Gasoline Draws Down

US crude oil inventories edged up last week while gasoline stocks decreased, the EIA says.

- Rigzone.com - US

Buru restarts Ungani oil field production

Buru Energy Ltd., Perth, has restarted oil production from Ungani field in the onshore Canning basin of Western Australia. Oil was delivered this week to the storage tank at the northern Australian port of Wyndham.

- OGJ - US

Oil Up Almost 2% On Weaker Dollar, Short-Covering

Oil prices rise nearly 2% and hit a one-week high.

- Rigzone.com - US

Statoil Awards Services Contracts to 5 Ship Owners

Statoil awards services contracts to 5 ship owners, covering 7 supply vessels at a total value of $368 million , including options.

- Rigzone.com - US

Lashier to succeed Cella as CPChem CEO

Mark Lashier has been chosen to succeed Peter Cella as president and chief executive officer of Chevron Phillips Chemical Co. LLC , effective Aug. 1. Cella is retiring.

- OGJ - US

Oil Prices Slide After API Reports Crude, Gasoline Build

The American Petroleum Institute reported a build of 851,000 barrels in United States crude oil inventories, compared to analyst's rather steady-as-she-go-yet-still-too-optimistic expectations that this week would see between a 2.3-million-barrel and 3.25-million-barrel draw for the week ending June 23. Today's build is ...

- OilPrice.com - US

Libyan Crude Gushes Into Tankers as Nation's Output Accelerates

Libyan oil shipments are poised to hit the highest in at least three years in the latest sign the North African country is managing to sustain a production revival.

- Rigzone.com - US

China Pumps Cash Into African Floating LNG Projects In Strategic Push

China plans to pour almost $7 billion into FLNG projects in Africa.

- Rigzone.com - US

Colorado, US government allege PDC Energy exceeded VOC limits

PDC Energy Inc. violated federal and state emissions control requirements with emissions of volatile organic compounds from storage tanks at its Denver-Julesburg basin oil and gas operations, the US Department of Justice, US Environmental Protection Agency, and the state of Colorado jointly said in a June 26 civil ...

- OGJ - US

Oil Sands Exodus Pushes Canada's M&A Deals To Highest Since 2007

International oil majors have sold a number of oil sands assets in Canada in recent months, with energy deals dominating the total mergers and acquisitions activity so far this year, setting the transactions market on course for the best start to the year since 2007. According to data compiled by Bloomberg, the total M&A ...

- OilPrice.com - US

String Of Downgrades Creates Buying Opportunity For Oil Stocks

Analysts from New York-based investment bank Seaport Global Securities LLC, Barclays Plc., Morgan Stanley, Macquarie Capital Ltd. and Capital One Securities have recently downgraded a slew of big oil companies, explorers, oilfield service providers and other E&P companies. The downgrades come as the sentiment in the oil ...

- OilPrice.com - US

Trump Promotes a US Gas Trade With India That Already Exists

In promoting trade with India, President Trump suggested that the US is on the verge of signing long-term agreements to send natural gas to the Asian country.

- Rigzone.com - US

EIA conference panel examines produced water, induced seismicity

Alternatives to reinjecting produced water will be essential not only to avoid induced seismicity but also to provide an additional source of water for energy operations, a speaker suggested during a breakout session at the US Energy Information Administration’s 2017 conference.

- OGJ - US

Immediate Lessons from the Battle of Mosul

The largest conventional land battle since the capture of Baghdad in 2003 has been ongoing since October 2016. The purpose of this article is to provide Army a first-look on lessons identified from the advisors engaged in supporting our Iraqi partners to excise the Da'esh malignancy from Iraq. This list is raw and provided ...

- Iraq Oil Report - US

'Bring On More Renewables,' US Regulator Says As Grid Study Looms

Wind and solar power does not make the US electricity grid less stable, an outgoing federal regulator says.

- Rigzone.com - US

Traders Send Most Mideast, US Diesel to Europe This Year

The US and Middle East are set to boost supply of fuels such as diesel to Europe to the highest level in at least six months.

- Rigzone.com - US

Genel Appoints Ex-Shell Executive As CFO In Leadership Reshuffle

Genel Energy appoints an outsider as chief financial officer, diversifying a leadership team that has been dominated by Turkish executives since the departure of its 2 co-founders.

- Rigzone.com - US

Bangladesh To Start Replacing Oil Product Imports With LNG

Bangladesh will begin substituting part of its oil product imports with LNG next year, as it aims to use more gas in power generation to replace oil-fired plants, Sayed Mohammad Mozammel Haque, director for Operations and Planning at Bangladesh Petroleum Corporation , told S&P Global Platts on Wednesday. Bangladesh's demand ...

- OilPrice.com - US

Deloitte: Oil Firms Face Increasingly Sophisticated Cyber Attacks

Contrary to popular belief that the oil and gas industry is not among the top targets of hackers, energy was the second-most prone industry to cyber-attacks last year, with almost three-quarters of U.S. oil and gas companies going though at least one cyber incident, consultancy Deloitte said in a report released on Monday. ...

- OilPrice.com - US

Eni lets subsea contract for Coral South FLNG off Mozambique

Eni East Africa SPA has let a contract to GE Oil & Gas for the supply of subsea production systems, ancillary equipment, and services for the Coral South floating LNG project in Area 4 offshore Mozambique. The agreement also covers future potential upstream projects on Area 4.

- OGJ - US

Airswift Launching 3 New Centers, Creating Over 30 Jobs

Airswift, a global workforce solutions provider for the energy sector, is launching 3 new strategic delivery centers, resulting in more than 30 new jobs.

- Rigzone.com - US

Baghdad Threatens Legal Action Against KRG Over Authorized Exports

Two weeks after a 700,000-barrel tanker named Neverland reportedly began its journey towards the U.S. East Coast, Baghdad declared its readiness to challenge the legal validity of Kurdish oil exports in American courts, according to a new report by S&P Global Platts. The ministry will challenge the legality of any shipments ...

- OilPrice.com - US

Are Driverless Cars Messing With Texas?

Earlier this month, Texas Governor Greg Abbott approved a law that would allow the entire state to serve as a testing ground for driverless cars. This initiative—though reflective of the reductionist regulatory environment boasted by the Lone Star State's Republican leadership—undermines the state's existing energy ...

- OilPrice.com - US

Australia's North West Shelf LNG Facility Hit By Karratha Plant Outage

Work to restart production at Australia's Woodside-operated Karratha Gas Plant, which hosts the North West Shelf liquefied natural gas export project, is underway.

- Rigzone.com - US

Dallas Fed: Business Activity for OFS Highest It's Been In 5 Quarters

The Dallas Fed's quarterly energy survey shows an uptick in business activity, fueled by increases in oilfield services.

- Rigzone.com - US

Trump's 'Energy Week' To Push U.S. Global Energy Leadership Agenda

This week is the Trump Administration's 'energy week' in which the President and energy agencies and officials will be presenting plans how to create more energy jobs at home and boost the U.S. influence on the global energy markets. President Trump is committed to utilizing our abundant domestic energy resources both to ...

- OilPrice.com - US

Oil Prices Rise As EIA Reports Tiny Crude Build, Gasoline Draw

A day after API reported a rather shocking crude oil and gasoline inventory build, the Energy Information Administration confirmed a small inventory build for crude oil of 100,000 barrels in inventory, but a decrease in inventory of 900,000 barrels of gasoline. The crude oil build, while more optimistic than API's figures, ...

- OilPrice.com - US

Shell, Exxon To Appeal Latest Groningen Gas Production Cap

A joint venture between Royal Dutch Shell and Exxon Mobil will file an appeal against a Dutch government plan to lower a production cap at the Groningen natural gas field.

- Rigzone.com - US

Russell: China's Natural Gas Output, Imports Surge, Beating Target

China is ramping up both imports and domestic production of natural gas.

- Rigzone.com - US

IS counterattacks in retaken parts of Mosul stall Iraq push

Counterattacks by Islamic State militants on the western edge of Mosul have stalled Iraqi forces' push in the Old City, the last IS stronghold in the battle, an Iraqi officer said Tuesday. The attacks forced Iraqi forces and the U.S.-led coalition to pull some assets away from the Old City to again clear the Yarmouk

- Iraq Oil Report - US

Quarterly lease sales attract over $8 million in bids, BLM reports

Quarterly oil and gas lease sales in eight regions netted $8,157,900 in bonus bids for 175 parcels covering 128,483 acres, the US Bureau of Land Management reported. The agency’s New Mexico office had the largest single total with nearly $3.5 million for parcels in Texas and Oklahoma, it said.

- OGJ - US

Santos solidifies relationship with Chinese shareholders

Santos Ltd., Adelaide, has established a strategic alliance with two of its shareholders—the Chinese entities ENN Group and Hony Capital.

- OGJ - US