Energy

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Lipstick and dresses return to Mosul's streets.

People living in the Iraqi city of Mosul, overrun by so-called Islamic State three years ago, have described a life of terror, with children killed for minor misdemeanours, public floggings and regular disappearances. Exclusive footage and testimony from the east of Iraq's second city, recaptured in January, reveals how the ...

- Iraq Oil Report - US

Inside Mosul: May 23, 2017.

Detailed updates from Islamic State militant-held areas of Ninewa province, gathered via Iraq Oil Report's network of reporters and contacts.

- Iraq Oil Report - US

New York, other state AGs seek lower crude-by-rail volatility limit.

New York Atty. Gen. Eric T. Schneiderman and five other states’ attorneys general asked the federal government to require crude oil being shipped by rail to have a less than 9 psi volatility limit.

- OGJ - US

China welcomes private oil-gas investment.

Domination of the Chinese oil and gas business by state-owned companies will be weakened under reforms announced by the State Council .

- OGJ - US

EOG, Carlyle Group create $400-million Oklahoma drilling combine.

EOG Resources Inc., Houston, and global alternative asset manager Carlyle Group LP have formed a combine for development of EOG’s oil and gas assets in Ellis County, Okla.

- OGJ - US

Saudi Arabia Signs $50 Billion Worth Of Oil Deals With The U.S.

U.S. companies signed billions of dollars worth of deals with Saudi Arabia's oil and gas industry during President Donald Trump's visit to the Kingdom over the weekend, boosting bilateral business ties while the oil market continues to follow the shale-OPEC rivalry. The US$110 billion worth of U.S.-Saudi defense ...

- OilPrice.com - US

ExxonMobil completes polyethylene lines at Mont Belvieu plastics plant.

ExxonMobil Chemical Co. has reached mechanical completion of two 650,000-tonne/year high-performance polyethylene lines at its plastics plant in Mont Belvieu, Tex. The company expects production to begin during the third quarter.

- OGJ - US

Russia Beats Saudi As Top China Oil Supplier for Second Month.

Russia has kept its top spot as oil supplier to China.

- Rigzone.com - US

MARKET WATCH: NYMEX crude oil steadies above $50/bbl.

Light, sweet crude oil climbed modestly on the New York Mercantile Exchange May 22 with the June contract settling well above $50/bbl and the July contract settling above $51/bbl. It was the second consecutive day the front-contract contract settled above $50/bbl.

- OGJ - US

Kuwait: Deeper Cuts Are On The Table.

OPEC is committed to restore the balance of the oil market and is not ruling out any option for discussion at the upcoming meeting on Thursday, including considering deeper cuts, Kuwait's Oil Minister Essam al-Marzouq said in an exclusive interview with Kuwait News Agency published on Tuesday. All options are on the table ...

- OilPrice.com - US

Mexico Oil Reform Advances With First Private Well in 80 Years.

For the first time in almost 80 years, a private company has sunk a new offshore oil well in Mexican waters.

- Rigzone.com - US

White House proposes selling half of SPR in 2018 budget request

The White House proposed selling nearly half the crude oil in the US Strategic Petroleum Reserve over 10 years beginning in fiscal 2018 as part of the proposed federal budget it released on May 23.

- OGJ - US

OPEC Deal: 9-Month Extension Looking Increasingly Likely

Markets are reacting favorably as OPEC hints at a 9-month extension of its production cut deal with the May 25 meeting just around the corner. • OPEC brought in $433 billion in net oil export revenues last year, the lowest figure since 2004, according to the EIA. • That total is also 15 percent lower than 2015 ...

- OilPrice.com - US

Petrobras-led group producing oil, gas from deepwater Lula South field

Petroleo Brasileiro SA started deepwater production through the P-66 floating production, storage, and offloading vessel in Lula South field from the Brazilian presalt of the Santos basin in 2,150 m of water on May 17, said Royal Dutch Shell PLC subsidiary BG E&P Brazil.

- OGJ - US

Venezuela Oil Executive Arrested in Corruption Probe

Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and U.S. major Chevron Corp.

- Rigzone.com - US

Woodside Sees Output Growing 15 Pct Over Next Three Years

After 2020, output will grow further with the expansion of its Pluto LNG project in Australia.

- Rigzone.com - US

Billionaire Ratcliffe Hunts Oil to Repeat Chemicals Empire Build

The deal to buy assets from Dong Energy A/S for more than $1 billion follows the purchase of a pipeline system from BP Plc that carries crude used to price more than half the world's oil.

- Rigzone.com - US

BLOG: Rigzone's Downstream Coverage Starts New Chapter

A new chapter begins for Rigzone's downstream coverage.

- Rigzone.com - US

Oil Prices Rise As API Reports Draws Across The Board

The American Petroleum Institute reported a draw of 1.5 million barrels in United States crude oil inventories, compared to analyst expectations that markets would see a draw of 2.3 million barrels for the week ending May 19—the second such expectation in two weeks. While 1.5 million barrels is not a huge draw, this ...

- OilPrice.com - US

OPEC Optimism Lifts Oil Prices To One-Month High

Last week we discussed how some OPEC producers are exhibiting compliance via lower exports, while others are not. Our export data affirms what others are saying about Iraq: that OPEC's second largest producer has not been playing ball. Exports out of the south of the country continue to hold up, above 3 million barrels per ...

- OilPrice.com - US

Most Norwegian Oil Workers Agree Wage Deal, Mediation For Rest

Energy firms operating offshore Norway agree wage deals for 2017 with the 2 largest trade unions representing oil and gas workers.

- Rigzone.com - US

Oil Pipeline Attack Breaks Months Of Truce In Nigeria

Just as Nigeria's government and militants in the restive Niger Delta have managed to reach a kind of fragile truce with talks, amnesty funding, and incentives, a pipeline close to the Warri oil hub was attacked by suspected rebels in what was the first sabotage against the country's oil facilities in months. Militants ...

- OilPrice.com - US

Statoil To Start Gina Krog Oil And Gas Field In June

Norwegian Petroleum Directorate gives consent for Statoil to start the Gina Krog oil and gas field in the North Sea.

- Rigzone.com - US

Oil Settles Up Slightly On View OPEC Will Extend Output Cuts

Oil prices settled a bit higher as expectations of an extension to OPEC-led supply cuts overshadowed a White House proposal to sell half of US petroleum reserves.

- Rigzone.com - US

ChemChina and Sinochem Press $120B Deal - Sources

A deal reportedly could be announced by the end of the year, four people with knowledge of the negotiations said.

- Rigzone.com - US

Fuel Theft Report Exposes '800-pound Gorilla'

Multibillion-dollar illicit fuel trade a global problem, says author of refined oil theft study.

- Rigzone.com - US

Saudi Finance Minister: I Wouldn't Care If The Oil Price Is Zero"

The Saudi Deputy Crown Prince Mohammed bin Salman unveiled the nation's ambitious Vision 2030' in an interview with Al-Arabiya in April. The roadmap lays out a wide variety of economic reforms that will transition Saudi Arabia away from oil and into a broader array of investments. While Saudi Arabia's economy is currently ...

- OilPrice.com - US

Trump Proposes Selling Off Half US Strategic Oil Reserve

The White House plan to trim the national debt includes selling off half of the nation's emergency oil stockpile, part of a broad series of changes proposed by President Trump.

- Rigzone.com - US

Nigeria Could Hit 2.2 Million Bpd Oil Output By End Of June

The worst disruptions in Nigeria's oil-producing Delta region are over, and production could reach 2.2 million barrels per day by the end of June.

- Rigzone.com - US

Trump Budget Would Sell Entire US Northeast Gasoline Reserve

The Trump administration is proposing to sell off in the coming fiscal year the entire gasoline reserve created in the aftermath of Hurricane Sandy, according to its budget proposal unveiled on Tuesday.

- Rigzone.com - US

PEMEX Approved To Explore New Deepwater Block

PEMEX received regulatory approval to explore a new deepwater block on Tuesday, but with the condition that the state-owned oil giant seek a private partner that would eventually operate the new allotment, according to a new report by Reuters. Government estimates say the new block, named the Chachiquin area, could pump ...

- OilPrice.com - US

Saudi Aramco Plans Up to $30B Investment in Motiva by 2023

The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery.

- Rigzone.com - US

Chevron Threatens To Fire Staff Protesting Bangladesh Asset Sale

U.S. oil and gas major Chevron has said that it may fire Bangladesh employees who have stopped work to protest against the planned sale of Chevron's gas assets in Bangladesh to a Chinese company, stirring a dispute that may delay the US$2-billion deal, Reuters reported on Tuesday, citing a letter from Chevron that it ...

- OilPrice.com - US

OPEC Failure Could Lead To Downgrade Of Entire Oil Sector

If the OPEC meeting in Vienna fails to shock oil prices upwards, Deutsche Bank analysts would feel inclined to downgrade' the investment attractiveness of oil sector stocks to Neutral, according to a new note by Mark Roberts, the German bank's chief of research and strategy for alternatives. OPEC might agree to expand the ...

- OilPrice.com - US

New bridge reunites Mosul as Iraqi forces gear up for final assault

Iraqi military engineers installed a new floating bridge across the Tigris river on Wednesday, reconnecting the two halves of Mosul to facilitate troop deployments ahead of a final assault to dislodge Islamic State. All five bridges connecting the two sides of the city bisected by the Tigris were struck by the U.S.-led ...

- Iraq Oil Report - US

Seismic program planned off Sri Lanka’s east coast

The Sri Lanka government is planning what it is calling a “first-ever” seismic acquisition off the country’s east coast, under a joint exploration agreement with France’s Total SA.

- OGJ - US

China April LNG Imports Up 15.6 Pct on Year -Customs

China's imports of LNG posted the first year on year gain in four months, customs figures showed.

- Rigzone.com - US

Oil Prices Spike On Strong Crude Inventory Draw

A day before OPEC's meeting in Vienna, where the cartel should announce officially the nine-month extension to its crude oil production cut deal, the Energy Information Administration added to optimism on the market by reporting a healthy draw in crude oil inventories. According to the authority, inventories fell by 4.4 ...

- OilPrice.com - US

Is Canada's Oil Production Ready For A Resurgence?

Last week two right-wing parties in Canada's oil-rich Alberta province signed a tentative agreement to merge, creating a unified front to oppose the ruling New Democratic Party. The Progressive Conservative and Wildrose parties will unite to challenge the NDP in 2019's provincial election, a promising prospect for the local ...

- OilPrice.com - US

Not All OPEC Members On Board For 9-Month Cut Extension

OPEC and friends will discuss later this week if the production cut deal should be extended by six or nine months, because there isn't a unanimous unconditional support for a nine-month extension, Kuwaiti Oil Minister Essam al-Marzouq said on Tuesday. We have agreed on the six months. Some of the countries have agreed to ...

- OilPrice.com - US

Seadrill CEO Praises Workforce

Seadrill Limited is well positioned in the current market, thanks in part to its highly skilled workforce, the company's CEO, Per Wullf, says.

- Rigzone.com - US

Shell Shareholders Reject Emissions Target Proposal

The vote is a setback for climate activists who are increasing pressure on global oil companies.

- Rigzone.com - US

Iraq Could Make Or Break The OPEC Deal

The markets are betting that the OPEC extension is all but guaranteed after Saudi Arabia and Russia announced their intention to support a nine-month extension. Saudi energy minister Khalid al-Falih tried to put to rest any possibility of dissention. We think we have everybody on board,' al-Falih said on Bloomberg TV. ...

- OilPrice.com - US

Hundreds of Dong Energy Workers to Transfer to Ineos Following Acquisition

Over 400 Dong Oil & Gas Business workers will transfer to Ineos in 2017, after the latter company agreed to buy the subsidiary from Dong Energy A/S.

- Rigzone.com - US

Wood Group Indicates Potential Job Cut Numbers Following Amec Deal

John Wood Group expects an overall potential reduction of approximately 2 percent of roles across the total combined group workforce, following its acquisition of Amec Foster Wheeler.

- Rigzone.com - US

Lucid Energy commissions Red Hills II cryogenic gas plant in Delaware basin

Lucid Energy Group LLC, Dallas, has reported the startup of the Red Hills II cryogenic natural gas processing plant in Lea County, NM.

- OGJ - US

The Battle For Natural Gas Dominance In Russia

It's no secret that Gazprom has been fending off challenges to its monopolist position as a natural gas exporter for some time now. Rosneft and Novatek gained the right to export LNG in 2013 and Rosneft is engaged in ongoing legal judo over Gazprom's Far East pipelines not included in the Unified Gas Supply System. There ...

- OilPrice.com - US

Q&A: Falah Alamri, Director General of SOMO

Days before a major meeting among the world's largest oil producers, Iraq's export chief discusses depressed Kirkuk prices and a big plan for marketing Basra crude.

- Iraq Oil Report - US

China's CNPC Ready To Splash $2B On Peru Oil Field

China's biggest oil and gas state company, CNPC, is willing to spend US$2 billion on the development of Block 58 in southern Peru. The news was reported by Perupetro's head, Rafael Zoeger, at a news conference. The Chinese major will start development of the field this year, planning to drill 60 wells to tap into an ...

- OilPrice.com - US

5 Stocks Set To Soar As Metal Markets Take Off

There is no commodity as essential and yet unknown as zinc, a metal that plays a central role in everything from infrastructure to military technology and even health care. But zinc will soon come out of the shadows, as a serious supply deficit looms and demand continues to grow. The last two years have seen several ...

- OilPrice.com - US