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Industry Headlines

Three Years Into Cheap Oil, Gulf Is Still Depending on a Rebound
Thursday, July 20, 2017 Energy-rich Gulf Arab nations have scrambled to adjust to the slump in oil prices since 2014.
Exxon Fined for Russia Sanctions Violations Under Tillerson
Thursday, July 20, 2017 The Treasury Department fined ExxonMobil $2 million for "egregious" violations of sanctions against Russia when now-Secretary of State Rex Tillerson was chief executive.
I Was Goldman Sachs' Chief Geologist. Banks Want My Skills
Thursday, July 20, 2017 Investment banks are desperately seeking technical specialists to enable them to take advantage of the surge in oil and gas deals.
BLOG: Rigzone Survey Examines Departed Oil, Gas Workers
Thursday, July 20, 2017 We wanted to know how the industry downturn affected oil and gas professionals' career paths. So we conducted a survey to find out.
Oil Settles Down After Early Rally Lifts Brent Past $50
Thursday, July 20, 2017 Oil settles lower in choppy trading, as nagging worries about abundant global crude supplies sank prices after an early rally boosted Brent above $50 per barrel for the first time since June 7.
Preparing a Mechanical Engineering Resume
Wednesday, July 19, 2017 Your resume serves one primary goal. Here's how to make it stand out.
Top Oil Buyer's Demand in Peril as OPEC Wrestles Over Output
Wednesday, July 19, 2017 Oil bulls grappling with OPEC's weakened resolve to curb output are also having to worry about waning demand.
Oil Jumps To 6-Week High On Surprisingly Big US Inventory Draws
Wednesday, July 19, 2017 Oil prices jumped almost 2% to a six-week high on Wednesday.
EIA: US Crude, Gasoline Stocks Drop Sharply
Wednesday, July 19, 2017 US crude stocks dropped more than expected last week, while gasoline and distillate inventories also fell sharply, data from the EIA shows.
Oil Rises on Strong Demand, Falling Saudi Exports
Tuesday, July 18, 2017 Oil prices rose slightly on Tuesday as Saudi exports fell and solid demand soaked up some of what is seen as an oversupplied market.

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Exploration

Mexico Sets Jan. 31 For Next Deep-Water Oil, Gas Tenders
Wednesday, July 19, 2017 Mexico's oil regulator, the National Hydrocarbons Commission, set Jan. 31 as the date for the next round of auctions.
Brazil Publishes Contract Model For 14th Round Oil-Rights Auction
Wednesday, July 19, 2017 ANP published the model contract for its 14th round auction of oil and natural gas exploration rights, scheduled for Sept. 27.
Brazil Mulls Easing Local Content Rules in Older Oil Contracts
Tuesday, July 18, 2017 Many key crude projects have been put on ice in Brazil due in part to steep costs stemming from tough local content rules.
Total, BP Unit, YPF Boost Investment in Argentina's Vaca Muerta
Tuesday, July 18, 2017 The investment is the largest specific project announcement since March in Vaca Muerta, one of the world's largest shale formations.
US Said to Stymie Japan's Plan to Explore for Russian Oil
Friday, July 14, 2017 A Japanese group's plans to explore for Russian oil with Rosneft PJSC have been stymied by US intervention over sanctions, according to people.
Trump Administration Approves Eni Plan To Drill Offshore Alaska
Thursday, July 13, 2017 Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015.

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Production

Backing Of Workers, Communities Key To Libya's Oil Revival
Thursday, July 20, 2017 When the head of Libya's state energy company visited Sharara oil field in early July, community leaders and workers crowded into a conference room to ask about jobs, training and services for local people.
Saudi's Manifa Oilfield Producing, Not Affected By Technical Issue
Thursday, July 20, 2017 Saudi Aramco's Manifa oilfield, one of its largest, is producing and has not been affected by any technical issue, an industry source told Reuters.
OPEC Just Lost a Kitten From Its Unruly Herd of Cats: Gadfly
Tuesday, July 18, 2017 Saudi Arabia is having problems herding cats.
US Shale Oil Output Seen Up for Eighth Month at 5.6 Mln bpd -EIA
Monday, July 17, 2017 The U.S. shale production level reportedly would be the highest since record-keeping began in 2007.
Ghana Oil Boon Not Enough to Plug Budget Hole as Prices Drop
Thursday, July 13, 2017 A surge in Ghana's oil output this year may do little to ease the West African nation's fiscal strains as crude prices are lower than what it budgeted
US Natgas Output Seen Up in 2017, but Still Below 2015 Record
Tuesday, July 11, 2017 U.S. dry natural gas production in 2017 was forecast to rise to 73.30 billion cubic feet per day (bcfd) from 72.29 bcfd in 2016, according to the Energy Information Administration's (EIA) Short Term Energy Outlook (STEO).
Libya's Humanitarian Situation Must Be Factor In Talk Of Curbing Oil Output
Monday, July 10, 2017 Libya's political, humanitarian and economic problems must be considered in any discussions about capping the country's rising oil production.
Engie Brings Norway's Gjoea Oil, Gas Field Back On Stream
Friday, July 07, 2017 The field was shut on June 21 following a gas leak.

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Finance and Investing

Unfazed by Low Prices, Bankers Remain Confident in Oil Lending
Friday, July 14, 2017 Fears of a long spell of low oil prices haven't shaken Wall Street's confidence in the sector.
Britain Seeks Looser IPO Rules To Lure Saudi Aramco, Worries Investors
Thursday, July 13, 2017 Britain wants to loosen rules on listing state companies in a move that could help London win the lucrative IPO of oil giant Saudi Aramco but has raised fears for minority investors.
The Rigzone Interview: Private Equity Cash Focuses on Oil, Gas Development
Thursday, July 13, 2017 Upstream private equity focuses on developing oil and gas assets, energy investment pro Claire Harvey tells Rigzone in exclusive interview.
Brazil Reverses Preliminary Decision On Petrobras Hedge Accounting
Wednesday, July 12, 2017 CVM has reversed a preliminary decision ordering Petrobras to restate financial statements in recent years to include the impact of currency protection on debt and other balance sheet items.
Australian-Owned Group To Raise Money For Israel Shale Oil Project
Wednesday, July 12, 2017 Israel's REM Energy partnership issued a prospectus for an offering on the Tel Aviv Stock Exchange to raise money to advance the country's largest shale oil project.
Azeri State Oil Company SOCAR Says Returned To Profit Last Year
Friday, July 07, 2017 SOCAR made a net profit of 350 million manats ($206 million) last year.

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Company Operations

Singapore's Keppel Posts Lower 2Q Profit, Says Rig Market Outlook Muddy
Thursday, July 20, 2017 Keppel posts a 21% drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market.
First Phase of Saudi Aramco's Energy Industrial City Complete in 2021
Tuesday, July 18, 2017 State oil firm Saudi Aramco said the first phase of a new Energy Industrial City in Saudi Arabia will be completed in 2021.
New UK Listing Rules Set to Attract State Companies Beyond Aramco
Monday, July 17, 2017 Saudi Arabia, Oman and Abu Dhabi have all announced plans in the past year to float some of their oil assets.
Centrica Merges Oil Business with Bayerngas to Tap Younger Fields
Monday, July 17, 2017 Centrica will own 69 percent of the new entity and raise its interests in younger fields.
SBM Offshore, Repsol to Get $247 Million in Yme Insurance Settlement
Monday, July 17, 2017 SBM Offshore and Repsol will share an insurance payment of $247 million, less legal costs, related to a troubled Norwegian offshore project.
Diplomat: Russia's Rosneft Plans To Open Mozambique Office
Thursday, July 13, 2017 Rosneft is preparing to open an office in Mozambique, a senior Mozambican diplomat says.
Shell To Sell Stake In Corrib Gas Field In Ireland For $1.23B
Wednesday, July 12, 2017 Shell to sell its 45% stake in the Corrib gas venture to a unit of Canada Pension Plan Investment Board (CPPIB) for up to $1.23 billion

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Policy

House GOP Leader Says Energy Tweak Near in Sanctions Bill
Wednesday, July 19, 2017 House Majority Leader Kevin McCarthy said there's a consensus among lawmakers to change legislation on Russian sanctions so that US companies won't be blocked from lucrative foreign oil deals.
French Court Repeals Law On Regulated Gas Prices
Wednesday, July 19, 2017 France's highest administrative court repeals a law on regulated gas prices.
Trump Administration Reduces Royalty Rates In First US Oil, Gas Lease Sale
Thursday, July 13, 2017 The Trump administration announces its first offshore oil and gas lease sale.
Could Argentinian Politics Beat the Vaca Muerta?
Monday, July 10, 2017 Upcoming election results could jeopardize the current administration's tenure and snuff out the oil and gas industry's confidence in one of the world's richest shale basins.
Climate Change Action Needs To Go Beyond Paris Accord, Macron Says
Thursday, July 06, 2017 Climate change action needs to go beyond the 2015 Paris agreement, French President Emmanuel Macron says.
Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals
Thursday, June 29, 2017 The Tanzanian government submitted three bills to parliament on that would allow it to force mining and energy companies to renegotiate their contracts, the latest in a string of moves that have alarmed foreign investors.

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Refining

Tesoro Signs Deal with Pemex to Enter Mexico
Wednesday, July 19, 2017 The Texas-based refiner that will soon be called Andeavor will supply fuels in Mexico's Sonora and Baja California states.
India Approves Creation of State Oil Giant in $4.6 Billion Deal
Wednesday, July 19, 2017 India approves the sale of a $4.6B stake in refiner Hindustan Petroleum Corp. to the country's biggest oil and gas explorer, according to a person with knowledge.
California Lawmakers Approve Landmark Extension to Climate Policy
Tuesday, July 18, 2017 The legislation extends California's cap-and-trade program, which was set to expire in three years, through 2030 and attempts to strengthen it.
German Diesel Makers Get Reprieve as Home States Reject Bans
Tuesday, July 18, 2017 Germany is wrestling over the future of diesel autos.
China June Oil Refinery Throughput Close to Record
Monday, July 17, 2017 "Refinery runs were impressive considering that refinery maintenance was still heavy," said Nevyn Nah, analyst at Energy Aspects.
India BPCL Makes Its First US Oil Purchase, Buys Mars, Poseidon
Monday, July 17, 2017 India's Bharat Petroleum Corp has made its first purchase of US oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries said.

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Biofuels

A Solar Eclipse Could Wipe Out 9,000 Megawatts of Power Supplies
Friday, July 14, 2017 The eclipse set to darken skies next month threatens to sideline solar farms and rooftop panels in a wide swath of the U.S., wiping out enough power generation to supply about 7 million homes.
IEA: Electricity Investment Overtakes Oil, Gas for First Time Ever in 2016
Tuesday, July 11, 2017 Investments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts, the International Energy Agency (IEA) said.
Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020
Monday, July 10, 2017 Shell plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.
We Grow Fuel Here: Fighting the Oil Slump by Bartering for Grain
Friday, July 07, 2017 YPF SA is expanding into a vibrant local farm industry and gain access to dollar-based export markets for grain.
Driving Under the Influence in Car Powered by Whisky Biofuel
Friday, July 07, 2017 Alcohol and automobiles famously do not mix - but one Scottish scientist has disproved that maxim.
Chilean Scientists Produce Biodiesel From Microalgae
Monday, July 03, 2017 Biodiesel made from microalgae could power buses and trucks and reduce greenhouse gas emissions by as much as 80%.

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Petrochemical

India Refiner HPCL Sees More Scope For Foreign Buys After ONGC Deal
Thursday, July 20, 2017 Hindustan Petroleum sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp, its chairman M. K. Surana said.
The Fossil Fuels Plant That Pits Trump's Base Against Itself
Thursday, July 20, 2017 For a landmark fossil-fuel program deep in Trump country, it's not environmentalists who are the biggest threat. It may be Donald Trump himself.
India's Reliance Industries' 1Q Standalone Profit Up 9%, Tops Estimates
Thursday, July 20, 2017 Reliance Industries posts a 9% rise in first-quarter standalone profit, helped by higher margins from its core petrochemicals business.
S.Korea's Hanwha Total Says Naphtha Cracker Shut After Lightning Strike
Monday, July 17, 2017 South Korea's Hanwha Total said on Monday its naphtha cracker in Daesan has been shut due to power outages caused by a lightning strike.
Asia's Naphtha Trapped in Downward Spiral as Supply Glut Hits
Monday, July 17, 2017 Asia is being hit with a naphtha supply glut that could push the market down further.
Linde to Build New PP Line at Braskem Texas Site
Tuesday, July 11, 2017 The project is expected to employ approximately 1,000 development and construction workers.
France's Arkema Looks to Specialty Chemicals to Drive Growth
Tuesday, July 11, 2017 Arkema plans to invest around 300 million euros ($341.76 million) to achieve a 50 percent production capacity increase for polyamide 11.
Saudi's Sadara Chemical Starts Propylene Glycol Plant
Monday, July 10, 2017 Sadara Chemical starts production at its propylene glycol plant.
Zhejiang Starts Construction Of China's First Private Oil Refinery Site
Monday, July 10, 2017 Zhejiang Petrochemical started construction of the first phase of its oil refining and petrochemical complex.

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Pipelines

Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate
Thursday, July 20, 2017 The continual disruption blighting the impoverished delta region threatens plans to exceed 2 million barrels a day, according to Wood Mackenzie.
Turkey Lobbying Israel to Push Cyprus on Approving Gas Pipeline
Thursday, July 20, 2017 Turkey wants Israel to use its clout to push Cyprus into allowing a pipeline to pass through its waters so the region's natural gas can be exported to Europe.
House Passes Pipeline Bill to Ease Path for More Keystones
Wednesday, July 19, 2017 House Republicans moved to make it easier to build pipelines from Mexico or Canada, as they sought to prevent a repeat of President Barack Obama's drawn out rejection of the Keystone XL pipeline.
Repairs to Magellan's Longhorn Pipeline Completed, Ops Resumed -Spokesman
Tuesday, July 18, 2017 The pipeline transports crude from Permian Basin production region in West Texas to the refining and export facilities in Houston.
BP Says It Is Considering IPO of US Pipeline Assets
Tuesday, July 18, 2017 BP is considering spinning off certain US pipeline assets in the US Gulf and Midwest in an initial public offering, the company said Tuesday.
US Court Gives Environmental Regulator 14-day Extension on Methane Rule
Friday, July 14, 2017 A U.S. court gave the U.S. Environmental Protection Agency 14 extra days to comply with a July 3 order requiring the EPA to enforce rules on methane leaks in oil and gas equipment, which the agency had sought to freeze, a filing showed.
Texas Oil Market With Spare Pipeline Space Shrugs Off Shutdown
Friday, July 14, 2017 Oil markets shrugged off a spill that shut a pipeline crossing Texas, signaling no immediate shortage of space to haul crude from the region's prolific Permian Basin to Houston-area refineries.
Magellan Midstream Partners Pipeline Ruptures In Texas, Forcing Evacuations
Thursday, July 13, 2017 A crude oil pipeline operated by Magellan Midstream Partners ruptured near Bastrop, Texas, on Thursday morning, spilling an estimated 1,200 barrels of oil.

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Terminals and Storage

China Drafts New Rules Easing State Oil Majors' Grip On Storage
Wednesday, July 19, 2017 Beijing issues a draft of new regulations for China's growing oil and fuel storage industry.
Vietnam Plans Oil Reserves Equivalent Of 90 Days Of Imports By 2020
Wednesday, July 19, 2017 Vietnam's prime minister has approved a plan for the country's total crude oil and oil product stocks to be at least 90 days' worth of net imports by 2020.
Court Orders PDVSA to Allow Sale of Oil at Sovcomflot's Request
Tuesday, July 18, 2017 The court action suggests even political allies of Venezuela such as Russia are losing patience with PDVSA's payment delays.
Vietnam's Nghi Son Refinery to Import Its First Kuwaiti Crude Cargo
Tuesday, July 18, 2017 The 200,000 bpd plant will process Kuwaiti crude oil to produce LPG, gasoline, diesel, kerosene and jet fuel, mainly for the domestic markets.
Magnitude 4.2 Earthquake Strikes Near Cushing Oil Storage Hub
Friday, July 14, 2017 An earthquake with a preliminary magnitude of 4.2 struck Stroud, Oklahoma, about 20 miles (32.2 km) from the key oil storage hub in Cushing, Oklahoma, the Oklahoma Geological Survey (OGS) said.
Traders Shift Oil Products Out of Tanks as Short-Term Demand Soars
Friday, July 14, 2017 Some energy traders in Southeast Asia are cutting their use of storage tanks as short-term demand for oil products soars, hitting companies that rent out storage at a time when many of them have just expanded their capacity.

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LNG/LPG

CEO: France's GTT Sees Opportunities In Increased Gas Production
Thursday, July 20, 2017 GTT can benefit in the coming years from increased LNG supply as it will boost the need for transportation, Chief Executive Philippe Berterottiere says.
Philippines Shortlists 6 Countries For $2B LNG Hub, To Pick One Partner
Thursday, July 20, 2017 The Philippines has shortlisted 6 countries and will choose one from them as a partner for its planned $2B receiving and distribution facility for imported LNG, an official says.
Irish Gas Grid Could Receive LNG from South Texas
Wednesday, July 19, 2017 Texas-based NextDecade and Ireland's Port of Cork Co. will hold exclusive talks.
Qatar Seeks To Open New LNG Markets With Floating Terminals
Wednesday, July 19, 2017 Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar.
Petronet Eyes 2019 Rescue for Nearly Idle $700 Million LNG Plant
Tuesday, July 18, 2017 The only LNG terminal in southern India reportedly is operating at about 10 percent of its 5 million-ton-a-year capacity.
Big Oil Sees Salvation in Gas, But What If It's a Wrong Bet?
Tuesday, July 18, 2017 The trends that are undercutting optimism about the global gas outlook are already playing out in Europe.
Canada's LNG Failure Is Its Own Fault, Seven Gen Founder Says
Monday, July 17, 2017 Businesses can't rely on the government to push projects past the objections of local communities, said Pat Carlson.
LNG Prices Stay Low as Oversupply Dogs Market
Friday, July 14, 2017 The Asian market for liquefied natural gas (LNG) remained subdued this week, weighed down by oversupply concerns and as the northern hemisphere exits its high demand summer season.

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