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A Newcomer's Guide to Oil and Gas: Fuel Pump Facts

Industry Headlines

Chancellor Helps UK Oil Industry with 'Innovative' Tax Policy
Wednesday, November 22, 2017 The Chancellor of the Exchequer, Philip Hammond, pledges to help the UK oil and gas industry by delivering an 'innovative' tax policy from November 2018.

Oil & Gas UK Welcomes BP North Sea Asset Sale
Wednesday, November 22, 2017 News of BP plc's intended sale of its North Sea assets to Serica Energy plc has been welcomed by trade body Oil & Gas UK.

Oil, Gas HSE Podcast: How the Downturn Affected the Workforce
Wednesday, November 22, 2017 Rigzone's senior editor sits down with Oil and Gas HSE podcast to discuss the number of workers who left the industry during the downturn.

US Crude Settles At 2-Year High After Pipeline Disruption
Wednesday, November 22, 2017 Oil settles at a two-year high.

Offshore US Oil Firms Talos, Stone Energy Plan $2.5B Merger
Tuesday, November 21, 2017 Talos Energy and Stone Energy announced plans to merge and create a new company.

Oil Rises Ahead Of OPEC Meeting, Capped By Rising US Output
Tuesday, November 21, 2017 Oil edged up, supported by expectations that OPEC and other producing countries next week would extend output cuts.


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Exploration

Lundin Norway Makes Non-Commercial Gas Discovery
Wednesday, November 22, 2017 Lundin Norway AS makes a non-commercial gas discovery in the southern Barents Sea.

OGA Receives 'Great Response' to Latest UK Offshore Licensing Round
Wednesday, November 22, 2017 The Oil & Gas Authority (OGA) said it received a 'great response' to the United Kingdom's latest offshore licensing round.

Guyana-Suriname Basin Emerges as a Hotbed of Oil, Gas Exploration
Friday, November 17, 2017 Oil exploration in the Guyana-Suriname basin has stepped up following ExxonMobil's major discovery there.

Ghana Opens Talks With Exxon On Deepwater Drilling Contract
Monday, November 13, 2017 Ghana has opened talks with ExxonMobil to allow the US oil firm to undertake deepwater exploration off its coast, a deputy energy minister says.

Central Park's Got Nothing on Exxon's Super-Long Shale Oil Wells
Monday, November 13, 2017 ExxonMobil is drilling shale wells that stretch farther than the length of New York's Central Park.

Arctic Oil Drilling Under Attack as Norway Dragged to Court
Monday, November 13, 2017 A group of activists is trying to put a stop to Norway's Arctic oil exploration and forcing the country to defend itself in the first court case of its kind.


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Production

Colombia's Ecopetrol To Invest Up To $4B In 2018
Wednesday, November 22, 2017 Ecopetrol will invest between $3.5 billion and $4 billion during 2018, the majority in production and exploration projects.

BLOG: Production Cut Extension at OPEC Meeting? Wouldn't Count On It
Wednesday, November 22, 2017 Rigzone readers aren't so confident that output cuts will be extended.

Australia's FAR Expects 1.1B Barrels Of Oil From Gambian Blocks
Tuesday, November 21, 2017 FAR Ltd says an independent study of 2 of its offshore blocks in West Africa's Gambia found potential for a total of 1.1 billion barrels of oil.

Norwegian Production Increases
Tuesday, November 21, 2017 Norwegian production has increased month-on-month, according to the Norwegian Petroleum Directorate's preliminary output figures for October.

Officials: BP, Eni Interested In Developing Iraq's Majnoon Oilfield
Monday, November 20, 2017 BP and Eni are among companies that have expressed an interest in developing the giant Majnoon oilfield.

NPD Grants Consent for Production Start Up of Maria Field
Friday, November 17, 2017 The Norwegian Petroleum Directorate (NPD) grants consent for the start-up of production from the Maria field in the Norwegian Sea.


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Finance and Investing

Trafigura's Purchases From State Oil Firms Rose In 2016 - Report
Wednesday, November 22, 2017 Trafigura's aggregate direct purchases of crude, refined products and natural gas from national oil companies rose in 2016 to a third of its traded volumes.

Gulf Energy Raises $733MM, Biggest Thai Corporate IPO In Over A Decade
Wednesday, November 22, 2017 Thailand's Gulf Energy Development Pcl raises $733 million after its initial public offering priced at the top end of expectations.

ADNOC To Raise $2.25B Pre-IPO Loan For Distribution Unit
Monday, November 20, 2017 ADNOC plans to raise a $2.25 billion loan for its distribution unit prior to selling a stake of up to 20%.

London High Court Judge Rules In Favour Of Creditors In Dana Gas Sukuk Case
Friday, November 17, 2017 A High Court judge in London rules in favour of creditors in a case over the validity of the purchase undertaking for about $700 million of Islamic bonds issued by the UAE's Dana Gas.

Petrobras Seals $1B Financing From Banks, Repays $500MM Debt
Friday, November 17, 2017 Brazilian state-controlled oil company Petroleo Brasileiro secures $1B in financing from a banking syndicate headed by Standard Chartered PLC.

Offshore Oil Service Firms Dominate North American Energy Bankruptcies
Thursday, November 16, 2017 Offshore oil drilling and service companies are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone.


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Company Operations

India's ONGC Buys 15% Stake In Namibia Offshore Block From Tullow
Tuesday, November 21, 2017 India's ONGC Videsh Ltd (OVL) acquires a 15% stake in Namibia's offshore Block 2012A from Tullow Oil.

Aberdeen Services Company Secures Chrysaor Deal
Tuesday, November 21, 2017 Craig International wins new services deal with Chrysaor.

BP Seeks Stake In Cairn Energy Senegal Assets
Monday, November 20, 2017 Cairn Energy is in talks with BP to sell a 30% stake offshore Senegal.

German Gas Supplier VNG In Talks To Sell Norwegian Energy Business -Sources
Friday, November 17, 2017 German gas supplier VNG is in talks to sell a majority stake in its Norwegian Norge oil and gas business, which could fetch up to $500 million, 3 banking sources say.


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Policy

Tillerson Flap Bad Timing for Iran Decision: Balance of Power
Thursday, October 05, 2017 Signs of friction are again plaguing Donald Trump's White House at a pivotal moment for his policy agenda.

Oil Drillers May See Big U.S. Tax Cut - If Deductions Survive
Thursday, October 05, 2017 U.S. oil explorers could see a multibillion-dollar benefit from a move to slash the U.S. corporate tax rate but some of the industry's biggest tax breaks could also be under fire.

Amid Skepticism, Nigeria Continues to Move Forward to Revamp its Government
Thursday, August 10, 2017 Operators, experts remain cautious as Africa's No. 1 oil producing nation passes a bill to reduce corruption.

US Energy Agency to Take on $50 Billion Backlog as Senate Acts
Friday, August 04, 2017 The main US energy regulator can get back to the business of approving multibillion-dollar natural gas pipelines after the Senate moved to fill two of four vacancies at the long-crippled agency.

Japan To Start Work On Revising Basic Energy Policy Next Week
Tuesday, August 01, 2017 Tokyo will begin discussions on a revision of Japan's basic energy plan next week, Minister of Economy, Trade and Industry Hiroshige Seko says.

Pennsylvania May Impose Severance Tax
Friday, July 28, 2017 Operating in the Keystone State might get more expensive for the natural gas industry.


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Refining

Indian Oil Corp Studies Renewed Venezuelan Crude Purchases
Wednesday, November 22, 2017 Indian Oil Corp is considering buying Venezuelan crude for the first time in at least 6 years, in a move that could help the crisis-struck South American nation settle unpaid bills.

Italy Prosecutors Probe Eni For Tax Evasion At Refineries
Wednesday, November 22, 2017 Italian authorities are investigating oil major Eni for alleged tax evasion.

US Crude Inventories Fall; Big Draw At Cushing Hub
Wednesday, November 22, 2017 US crude oil stockpiles fell last week, with most of the decline coming out of the Cushing, Oklahoma storage hub.

South Africa Eyes BRICS Partners To Build New $10 Billion Refinery
Tuesday, November 21, 2017 South Africa wants the national oil companies of its BRICS partners to help build a new 400,000 barrel per day refinery.

A Newcomer's Guide to Oil and Gas: Fuel Pump Facts
Tuesday, November 21, 2017 When is 'Brand XYZ' fuel not 'Brand XYZ' fuel?

ADNOC Pushes Ahead With IPO After Emaar Sale
Monday, November 20, 2017 Abu Dhabi National Oil Co. plans to sell as much as 20% of its fuel-distribution unit.


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Biofuels

Q&A: Big Data Could Bring Upside to Renewables Investors
Wednesday, November 22, 2017 Technology and big data will change how electric grids are organized and water is transported, says Lara Banks.

Shell, Bio-Bean Power London Buses with Coffee Ground Biofuel
Monday, November 20, 2017 Royal Dutch Shell plc and Bio-Bean team up to help power London buses with a biofuel made partly from waste coffee grounds.

Biofuels Fight Is Brewing Between US and Brazil Over Ethanol
Friday, November 10, 2017 The US biofuels industry, fresh off a win against Big Oil, is lining up for a fight with Brazil.

What You Need to Know About Converting Plastic Bags into Sustainable Fuel
Thursday, November 09, 2017 Processing used plastic has dual benefits - by reducing waste in landfills and providing alternative sources of fuel.

Peak Oil? Majors Aren't Buying Into The Threat From Renewables
Wednesday, November 08, 2017 Leaders of the world's biggest oil firms are not buying the argument that their traditional business faces any imminent threat.

US Subpoenas Icahn Over Biofuel Policy While Trump Adviser
Wednesday, November 08, 2017 Federal investigators have issued subpoenas for information on Carl Icahn's efforts to change biofuel policy.


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Petrochemical

China's CEFC, Rosneft To Study South China Petrochemical Complex
Friday, November 10, 2017 Private conglomerate CEFC China Energy and Rosneft agree to study the possibility of building a petrochemical complex in South China.

Shell's Pennsylvania Project Hits Milestone
Wednesday, November 08, 2017 Multibillion-dollar petchems project transitions from early works to main construction.

CNPC Plans to Cut Gas Supplies to Industrial Users-State Media
Monday, November 06, 2017 CNPC expects natural gas shortages this winter.

Kuwait's PIC Signs Contract with US Jacobs for Plant in Canada
Monday, November 06, 2017 Jacobs will be in charge of carrying out front-end engineering and design for a propylene and polypropylene facility in Alberta.

Petrochemicals Group Ineos to Buy British Fashion Brand Belstaff
Monday, October 30, 2017 It's the latest off-beat project by Ineos's billionaire founder Jim Ratcliffe.

LyondellBasell Approaches Brazil's Braskem for Takeover-WSJ
Monday, October 30, 2017 A deal would help LyondellBasell expand in Latin America, where Braskem is the biggest petrochemicals company.


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Pipelines

Keystone Clean-Up To Last Several Weeks, Line Restart Unclear
Wednesday, November 22, 2017 The clean-up of an oil spill from TransCanada Corp's Keystone pipeline may last several weeks.

A 30-Year-Old Analyst Is Taking on Pipeline Billionaire Warren
Tuesday, November 21, 2017 Kevin Kaiser was on an airplane this summer, staring into his laptop, when he came up with the idea for taking on billionaire pipeline magnate Kelcy Warren.

Ancala Acquires Apache's Two North Sea Gas Pipeline Assets
Monday, November 20, 2017 Ancala Partners finalizes its acquisition of Apache's interests in two North Sea gas pipeline assets.

Keystone XL Clears Major Obstacle in Nebraska
Monday, November 20, 2017 Nebraska panel clears path for Keystone XL.

South Dakota Pipeline Spill Hits TransCanada Shares, Canada Crude Price
Friday, November 17, 2017 Canadian heavy crude prices and TransCanada shares slid as officials in Nebraska mulled whether to approve another pipeline proposed by the company.

Turkish, Iraqi Officials Discuss Resuming Kirkuk Oil Exports
Thursday, November 16, 2017 A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports.


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Terminals and Storage

US Oil Exports Boom, Putting Infrastructure To The Test
Monday, October 30, 2017 US crude exports have boomed since the decades-old ban was lifted less than two years ago.

Kemp: US Natural Gas Prices Under Pressure Even As Stocks Tighten
Friday, October 20, 2017 US natural gas stocks continue to tighten, but most traders appear unconcerned.

US Regulator To Monitor Winter Natgas Supply In California, New England
Friday, October 20, 2017 US energy regulators will pay attention to natural gas supply issues in Southern California and New England this winter.

Could Mexico Be the Next Panama Canal for Gas? Drillers Think So
Friday, October 20, 2017 America's drillers are looking for a cheaper and quicker route.

Asia Oil Buyers Turn To US In Hunt For Cheap Supply
Monday, October 16, 2017 Asia is set to ramp up crude oil imports from the United States in late 2017 and early next year.

Russell: China Crude Oil Storage Splurge Is OPEC's Best Friend
Monday, October 16, 2017 China's crude oil imports surged to the second-highest on record in September, but this isn't a sign of supercharged demand in the world's second-biggest economy.


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LNG/LPG

Qatari Energy Minister Sees Oversupply Of LNG In Coming Years
Wednesday, November 22, 2017 Qatar's energy minister says he expects oversupply of liquefied natural gas in the coming years.

Petronas LNG Inks Services Agreements in Malaysia
Wednesday, November 22, 2017 Petronas LNG Ltd signs 2 services deals in Malaysia.

Poland's PGNiG Signs First Mid-Term Deal For LNG Supplies From US
Tuesday, November 21, 2017 PGNiG signs its first mid-term deal for LNG deliveries from the United States.

Natgas Exporting Countries Convene As Global Buyers' Market Rises
Tuesday, November 21, 2017 Top officials of major gas producing countries are meeting this week in Bolivia.

Hoegh LNG: Pakistan LNG Import Project Consortium Folds
Thursday, November 16, 2017 A consortium behind a LNG import project in Pakistan has been dissolved.

Santos Seen Luring More Bids After Rejecting $7.2 Billion Offer
Thursday, November 16, 2017 A bid for Santos may trigger counter offers for the Australian oil and gas producer that has stakes in some of the world's cheapest LNG.


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