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Industry Headlines

Schlumberger Signs MoU with Saudi Aramco, Includes Job Creation Opps
Monday, May 22, 2017 Schlumberger signs MoU with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, which includes the creation of jobs and enables development opportunities for Saudis in oil and gas.
Iraq Paves Way for OPEC Deal With Support for 9 More Months
Monday, May 22, 2017 Iraq backed a proposal from Saudi Arabia and Russia to extend output cuts for nine months.
Sentinel Marine Takes Delivery of New ERRV, to Create 24 New Jobs
Monday, May 22, 2017 New jobs to be created for Sentinel Marine following delivery of new ERRV.
Riyadh Dances With Trump But Goes Home With Putin to Prop Up Oil
Monday, May 22, 2017 When it comes to propping up global oil prices, Saudi Arabia and Russia have never been more aligned.
Oil Rises To Month-High With Output Cut Extension Expected
Monday, May 22, 2017 Oil prices rose as growing confidence that top exporters would agree to extend supply curbs this week and speculation that the cuts could be deepened.
Australian Government Looks to Avert Gas Crisis
Friday, May 19, 2017 Australian Federal Resources Minister Matt Canavan was at pains to emphasize that the controversial 'Domestic Gas Security Mechanism' would only be triggered as a last resort.
Baker Hughes: US Drillers Add Oil Rigs For 18th Week In A Row
Friday, May 19, 2017 US energy companies added oil rigs for an 18th week in a row, the second-longest such streak on record.
Oil At One-Month High, Supply-Cut Extension Expected
Friday, May 19, 2017 Oil prices rose on Friday, closing out a second week of gains.

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Exploration

ExxonMobil, Total Discuss Offshore Drilling Opportunities In Greece
Friday, May 19, 2017 Greece's energy minister holds talks with representatives of ExxonMobil and Total about gas exploration opportunities off Greek shores.
Tullow Hits Oil at Kenyan Well
Wednesday, May 17, 2017 Tullow Oil plc announces that the Emekuya-1 well in Block 13T, Northern Kenya, has hit oil.
South Africa May Award First Shale Gas Exploration Licenses by End-Sept
Monday, May 15, 2017 The five license applications under review are for exploration in the semi-arid Karoo basin.
Total Expands Oil Search Offshore West Africa With Mauritanian Deal
Friday, May 12, 2017 Total has signed a deal to explore for oil and gas offshore Mauritania, the French company says.
Repsol Comes Up Dry in Norwegian Sea Wildcat Well
Friday, May 12, 2017 Repsol Norge AS, operator of production license 705, has come up dry in the drilling of wildcat well 6705/7-1, located in the northern part of the Norwegian Sea.
Shale Drillers Are Outspending the World With $84 Billion Spree
Tuesday, May 09, 2017 North American drillers plan to lift their 2017 outlays by 32% to $84 billion, compared with just 3% for international projects, according to Barclays.

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Production

BP Brings Quad 204 Project Online
Monday, May 22, 2017 BP plc announces the commencement of first oil from the redeveloped Schiehallion Area, following the completion of the Quad 204 project in the west of Shetland region, offshore UK.
Iran Has Potential To Increase Oil Production By 3 MMbpd
Monday, May 22, 2017 Iran has the potential to increase oil production by 3 million barrels per day, according to an Iranian oil official.
OPEC Panel Looking At Deepening, Extending Oil Cuts
Friday, May 19, 2017 An OPEC panel reviewing scenarios for the oil producer group's meeting next week is looking at the option of deepening and extending a deal to reduce crude output.
Russia's Gazprom Says May Raise 2017 Gas Output Forecast
Friday, May 19, 2017 Russian gas giant Gazprom says it may increase its gas production forecast due to robust demand.
Norwegian Production Drops Month-on-Month
Friday, May 19, 2017 Production on the Norwegian Continental Shelf decline month-on-month in April, according to preliminary figures from the Norwegian Petroleum Directorate.
Cairn Flows Oil From SNE-6 Well, 'Very Encouraging' Say Analysts
Thursday, May 18, 2017 Cairn Energy plc flows oil from the SNE-6 well offshore Senegal, in a development which was described as "very encouraging" by oil and gas analysts at GMP FirstEnergy.

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Finance and Investing

Sinochem No Longer Pursuing Stake Buy In Noble Group
Monday, May 22, 2017 Sinochem is no longer pursuing an investment in Noble Group Ltd due to concerns over the finances and business outlook of the loss-making commodity trader, 3 sources familiar with the matter told Reuters.
Russian Government Still Hopes For Dividends From Rosneftegaz
Thursday, May 18, 2017 Russia hopes to receive dividend payout from state-controlled Rosneftegaz for 2016 despite the energy holding company registering a loss last year.
Gazprom 2016 Dividend Payout To Be No Less Than Last Year
Wednesday, May 17, 2017 Russian gas giant Gazprom will pay at least the same amount in dividends on 2016 results as the year earlier, TASS news agency quotes Russian Deputy Prime Minister Arkady Dvorkovich as saying.
OGCI Appoints CEO of OGCI Climate Investments
Wednesday, May 17, 2017 The Oil and Gas Climate Initiative (OGCI) appoints Dr. Pratima Rangarajan as the chief executive officer of its newly-formed investment company, OGCI Climate Investments.
Egypt Will Make $750MM Debt Payment To Oil Companies On June 1
Tuesday, May 16, 2017 Egypt will make a debt payment of $750 million to international oil companies on June 1, Central Bank Governor Tarek Amer says.
US Shale's Favorite Financial Trick Is Getting Less Attractive
Friday, May 12, 2017 US drillers have dramatically reduced their hedging activity, a move that could portend a break in the production gains that have upended global crude prices.

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Company Operations

Wood Group Engineers to Carry Out Sakhalin Energy Services Contract
Monday, May 22, 2017 Wood Group's engineering team based in Yuzhno-Sakhalinsk, on Sakhalin Island, will carry out a technical support services contract for Sakhalin Energy Investment Company Ltd.
BP Makes 'Valuable Addition' to Board
Friday, May 19, 2017 BP plc makes a 'valuable addition' to its board with the election of Melody Meyer as non-executive director, according to BP Chairman Carl-Henric Svanberg.
IPE Professor Wins SPE Award
Thursday, May 18, 2017 The 2017 North Sea Regional Award for Productions and Operations from the Society of Petroleum Engineers (SPE) has been awarded to Professor Eric Mackay of Heriot-Watt University.
Aberdeen Subsea Company Marks Launch with New Office
Thursday, May 18, 2017 Aberdeen-based subsea integrity consultancy, 1 Consulting Subsea Integrity (1CSI), marks the launch of its business with a move into premises at the James Gregory Centre in Aberdeen.
Wood Group Says New MSA Marks Quality of Its People
Thursday, May 18, 2017 Wood Group states that a recently signed 10-year master services agreement (MSA) with Chevron 'demonstrates the quality of its people'.
InvestKL Continues Efforts to Attract MNCs to Base in Kuala Lumpur
Thursday, May 18, 2017 Government agency InvestKL CEO Datuk Zainal Amanshah sets sights on attracting 100 multinational corporations, including key oil and gas firms, to Kuala Lumpur.

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Policy

UK's Conservatives To Support Shale Energy, Cap Household Energy Tariffs
Thursday, May 18, 2017 Britain's Conservative Party will introduce legislation to support shale energy development and impose a household energy tariff cap if it is re-elected in June.
Panel: Regulator Should have Final Say on Canada Energy Projects
Monday, May 15, 2017 Canada should reverse the approval process for major energy projects, making them go through a review by the federal government before a final decision by regulatory bodies, an official panel recommended.
Bid To Revoke Obama-Era Methane Rules Fails In US Senate
Wednesday, May 10, 2017 A Senate resolution to revoke a rule to limit leaks and flaring of methane from oil and gas production on federal lands falls short of votes.
Trump's Arctic Drill Plan Challenged by Environmental Groups
Wednesday, May 03, 2017 Environmental groups are challenging President Trump's attempt to restore oil and gas leasing on more than 125 million acres in the Arctic and Atlantic ocean
Trump's US Looks Past Energy Independence to Global Dominance
Tuesday, May 02, 2017 The US is in the position to be energy-dominant, not just independent, thanks to fracking and plans to loosen drilling regulations, Interior Secretary Ryan Zinke says.
Trump Open to Raising Gas Tax and Negotiating Tax Overhaul Plan
Monday, May 01, 2017 President Donald Trump said he's willing to raise the US gas tax to fund infrastructure development and called the tax-overhaul plan he released last week the beginning of negotiations.

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Refining

Carlyle Battles Insurers in New York Over Moroccan Oil Losses
Monday, May 22, 2017 Carlyle Group is suing a group of its insurers over $400 million worth of oil it claims it lost when Morocco's sole refinery went bankrupt two years ago, court documents show.
After Merger, Refiner Delek to Lay Off Staff in Texas
Monday, May 22, 2017 Delek will cut almost 100 Dallas workers after its merger with Alon is completed.
Where Did Top Downstream Execs Go To College?
Monday, May 22, 2017 Check out the educational routes some top downstream execs took to launch their careers.
Black Sea Diesel Plant Upgrade Delayed by a Year to 2019
Friday, May 19, 2017 Rosneft is building a new hydro-cracking unit at its refinery at the Black Sea port of Tuapse.
US Gasoline Demand Weak but Expected to Strengthen This Summer
Friday, May 19, 2017 Unless gasoline demand sharply increases, oil refiners may be in for another tough year.
South Africa Open to Iranian Investment if New Refinery Goes Ahead
Friday, May 19, 2017 South Africa, a net importer of refined oil products, is looking to West Africa and the Middle East, including Iran, for potential partners on a new refinery project, energy ministry officials said on Friday.
Uganda Selects Firms for Refinery Talks
Thursday, May 18, 2017 Uganda has been pursuing a tender for developing a $2.5 billion refinery to process part of the crude from its oil fields.
Glencore Agrees JV Deal to Supply Mexican Fuel Stations
Thursday, May 18, 2017 The new franchise will provide fuel, branding and ancillary retail services to 1,400 fuel stations in Mexico, the company said.

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Biofuels

Brazil Acts to Protect Ethanol Producers as U.S. Imports Jump
Monday, May 15, 2017 Brazil is toughening requirements for ethanol importers to protect domestic producers, a minister said on Monday.
U.S. Democratic Senators Seek Probe into Icahn?s Biofuel Credit Dealings
Tuesday, May 09, 2017 Eight Democratic senators asked U.S. regulators on Tuesday to launch an investigation into billionaire Carl Icahn?s activities in the U.S. biofuels blending credit market.
U.S. Trade Panel Affirms Argentina, Indonesia Biodiesel Probe
Friday, May 05, 2017 The 5-0 decision followed the initiation of Commerce Department probes in April after U.S. biodiesel producers claimed that soaring imports from Argentina and Indonesia were dumped at prices below production costs.
Why Crooks Are Stealing the Grease From Your French Fries
Friday, May 05, 2017 "It's like crack money," said Sumit Majumdar, president of Buffalo Biodiesel Inc., a Tonawanda, New York-based collector.
Icahn's Oil Refiner Reports Plunge in Biofuels Bill in 1st Qtr
Thursday, April 27, 2017 Biofuels compliance expenses for CVR Energy's refining unit fell to the lowest level in almost five years during the first quarter, the company said on Thursday, as the U.S. government weighs an overhaul of its renewable fuels policy.

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Petrochemical

Clariant to Buy Huntsman for $6.4 Billion as M&A Surges
Monday, May 22, 2017 The new entity's global headquarters will be at Pratteln, Switzerland and its operational headquarters will be at The Woodlands, Texas.
White House Moving Ahead with Stiff EPA Budget Cuts -Group
Friday, May 19, 2017 An EPA spokeswoman defended aggressive proposals to cut the agency's budget.
Mexico Private Sector Eyes More NAFTA Content in Future Products
Friday, May 19, 2017 U.S. Trade Representative Lighthizer said in Washington that NAFTA had been successful for U.S. agriculture, investment services and the energy sector, but not manufacturing.
U.S. Senate Tees Up 'Accountability Act' as Regulation Fight Intensifies
Thursday, May 18, 2017 The next step, debating the bill on the Senate floor, has not been scheduled.
Taiwan's Formosa Plastics Group Says Owners to Reduce Management Role
Thursday, May 18, 2017 The move will allow the owners of one of Taiwan's biggest conglomerates to reduce their role in the management.
U.S. Industry Seeks Faster Permits, Simpler Rules in Trump Reg Reset
Wednesday, May 17, 2017 "Last time I remember this was 2001. That was the last big opportunity to make some changes," said David Friedman of American Fuel & Petrochemical Manufacturers.

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Pipelines

Origin Energy Sells Australia Gas Pipeline Network For $291 MM
Friday, May 19, 2017 Origin Energy Ltd agrees to sell a gas pipeline network in Australia for A$392 million ($291 million), helping it beat its target proceeds for asset sales to cut debt.
Alberta Regulator to Review Challenge to Kinder Morgan IPO
Thursday, May 18, 2017 The $1.28 billion share sale would help Kinder Morgan finance the expansion of its Trans Mountain pipeline.
Russia's Gazprom Cuts Gas Condensate Exports as Tax Bill, Tariffs Bite
Wednesday, May 17, 2017 Gas condensate accounts for around 7 percent of Russia's total oil production of 11 million barrels per day.
Kinder Morgan Treads Minefield in Post-vote British Columbia
Wednesday, May 17, 2017 Recent provincial election results should weigh on the U.S. company's Trans Mountain expansion.
China to Complete Russia Pipeline Sections by End-2018 -Official
Tuesday, May 16, 2017 China is expected to complete the sections of the massive Russian oil and gas pipelines that lie in the northeastern province of Heilongjiang by the end of next year, a top provincial official said.
New, Stronger Regulator for Canada Energy Projects -Panel Advice
Monday, May 15, 2017 Environmental and aboriginal groups are mounting high-profile protests against proposed pipelines by TransCanada Corp and Kinder Morgan Inc.

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Terminals and Storage

China Says Will Eventually Allow Private Companies To Invest In Oil Storage
Monday, May 22, 2017 China will eventually allow private companies to invest in the country's oil and gas storage, the government said in a blueprint document for its energy sector.
ExxonMobil Plans to Import Fuel to Mexico to Supply Its Gas Stations
Friday, May 19, 2017 ExxonMobil expects to open its first service stations in Mexico later this year and will sell gasoline and diesel fuels.
Full Tanks and Tankers: A Stubborn Oil Glut Despite OPEC Cuts
Friday, May 19, 2017 Stalled crude storage tank drawdowns have shed light on the broader challenge facing OPEC.
Traders Brace for First Winter Without U.K.'s Big Gas Store
Friday, May 19, 2017 In the past, a fully operational Rough provided a buffer against price swings.
U.S. Inventories of Oil, Gasoline Fall in Latest Week - EIA
Thursday, May 18, 2017 U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, said EIA.
Flotilla of U.S. Crude Heads to Asia as OPEC Weighs Extending Cuts
Thursday, May 18, 2017 Oil tankers carrying around 10 million barrels of U.S. crude are en route to Asia, according to shipping data and trade sources.

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LNG/LPG

Malaysia's Sarawak State Govt Seeks 10 Pct Stake in LNG Train
Monday, May 22, 2017 Malaysia's Sarawak state government said it is negotiating with Petronas to acquire a 10 percent equity stake in an LNG production facility.
Netherlands to Receive First LNG Cargo from Cheniere's US Plant
Monday, May 22, 2017 The Netherlands is set to receive its first LNG delivery from Cheniere Energy's Sabine Pass export plant in the United States, according to shipping data.
China Love for US Gas Begins as Trump Rolls Out Red Carpet
Monday, May 22, 2017 Let the gushing begin.
Malaysia's Sarawak State Govt Seeks 10% Stake In LNG Train
Monday, May 22, 2017 Malaysia's Sarawak state government says it is negotiating with Petroliam Nasional Berhad to acquire a 10% equity stake in an LNG production facility at Petronas' LNG complex in Bintulu, Sarawak.
Chile to Export Gas to Argentina to Cover Winter Demand
Friday, May 19, 2017 Chile does not have significant gas production of its own but is selling surplus LNG imported via its Pacific-facing ports.
South Korean Coal Plant Closures May Lift LNG Demand
Friday, May 19, 2017 South Korea has outlined plans to close 10 old coal-fired power plants next month.
LNG Exporter Tellurian Pulls Share Sale on 'Adverse' Market
Thursday, May 18, 2017 Tellurian, co-founded by ousted Cheniere Chief Executive Officer Charif Souki, is developing the Driftwood LNG export terminal in Louisiana.
Guangzhou Gas Plans LNG Import Terminal, Eyes Partnership With Woodfibre
Thursday, May 18, 2017 Guangzhou Gas Group plans to build a 2 million tonne per year import terminal for liquefied natural gas (LNG) on China's southern coast by 2020.

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