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Industry Insiders Compare, Contrast Shifts in North American Energy Markets
Tuesday, May 24, 2016 Industry insiders discuss the shifting dynamics of North American energy markets.
Iraq Sticks to Oil Output Growth Plan Despite Spending Cuts
Tuesday, May 24, 2016 Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in OPEC's second-largest producer that projects could be delayed due to spending cuts.
Shell Faces Rising Investor Discontent Over Executive Pay
Tuesday, May 24, 2016 Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year's annual shareholder meeting on Tuesday.
Climate Change Takes Center Stage at Exxon, Chevron Annual Meetings
Tuesday, May 24, 2016 Exxon Mobil Corp and Chevron will face their toughest-ever push by shareholders concerned about a warming world at annual meetings on Wednesday.
Oil's Recovery Under Threat as Tankers Run in Circles Off China
Tuesday, May 24, 2016
Industry Optimistic about Iraq's Petroleum Future
Tuesday, May 24, 2016 Oil and gas officials optimistic about Iraq's petroleum future, despite evident challenges, at the 10th Iraq Petroleum Conference, held in London.
Poland's PGNiG to Receive First Spot LNG Cargo from Statoil on June 25
Tuesday, May 24, 2016 Poland's state-run gas firm says it will receive its first spot delivery of liquefied natural gas (LNG) from Norway's Statoil on June 25.
Shell CEO Warns Renewables Shift Could Spell End If Too Swift
Tuesday, May 24, 2016 Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group's chief executive warned.
Saudi Arabia's Economic Plan Shows It's Just Not That Into OPEC
Tuesday, May 24, 2016 Saudi Arabia, one of the founders of OPEC, is sounding the group's death knell.
Firefighters Protect Canada's Oil Sands Battling Intense Flames
Tuesday, May 24, 2016 Those sent into Canada's oil sands are not only wrestling with one of the worst wildfires in the country's history. They are doing it surrounded by the volatile, explosive chemicals critical to pumping oil from some of the world's largest reserves.
Canada's Oil Sands Producers Prepare to Re-Enter Evacuated Sites
Monday, May 23, 2016 All of the Canadian oil sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno.
OPEC Set for Another Meeting With No Deal After Doha Failure
Monday, May 23, 2016 After failing to reach an accord on oil supply in Doha last month, OPEC is poised to go another meeting with no agreement on how much crude to produce.
Brazil Minister Faces Uphill Fight to Fix Battered Energy Sector
Monday, May 23, 2016 Interim President Michel Temer has given one of the biggest jobs of his administration to the youngest and least known of his cabinet members: Mines and Energy Minister Fernando Coelho Filho, 32.
Oil Industry Maintains Country Club Culture During Downturn
Monday, May 23, 2016 Horizontal shales deep under the earth's surface are important to an energy company's balance sheet, but so is what happens above the grass line - especially if that grass is owned by an exclusive Texas country club.
GeoPark to 'Pounce' on Deals as Cheap Oil Creates Bargains
Monday, May 23, 2016 GeoPark is considering buying assets from other oil producers in Latin America and could close a deal by year-end as an industry downturn is leaving many of its rivals strapped for cash.
GE Agrees to $3B Saudi Arabia Investments Outside of Crude
Monday, May 23, 2016 General Electric agreed to take part in $3 billion of Saudi Arabia investments as the desert kingdom seeks to diversify its economy away from crude.
ENI CEO: Nord Stream 2 Would Raise Gas Prices in Italy
Monday, May 23, 2016 Italian gas prices will increase if the Nord Stream 2 pipeline is built to double the amount of gas Russia pumps to Germany, the CEO of Italian oil and gas major Eni said on Monday.
UK Local Government Approves Third Energy Shale Gas Fracking Permit
Monday, May 23, 2016 Officials in northern England approved a shale gas fracking application from Third Energy on Monday in a shift indicating growing support for shale gas that Britain's government hopes can counter the decline in North Sea output.
Oil Down Modestly For 4th Day; Cushing Draw Limits Loss
Monday, May 23, 2016 Oil prices eased again on Monday after Iran vowed to ramp up output and as the number of rigs drilling for crude in the United States held steady after declining for eight straight weeks.
Israel's Government Approves Leviathan Natural Gas Deal
Sunday, May 22, 2016 Israel approves a deal it hopes will fast-track development of the huge Leviathan offshore natural gas field and end years of regulatory uncertainty.
Freeport's Oil and Gas Business Scraps IPO
Friday, May 20, 2016 Freeport-McMoRan's oil and gas business has withdrawn its initial public offering as weak oil prices dent valuations of oil producers.
Community Group: Gas Pipeline in Niger Delta Operated Attacked
Friday, May 20, 2016 A gas pipeline in Nigeria's restive Niger Delta region operated by the state energy company was attacked late on Thursday, a spokesman for a local community group and a witness said on Friday.
Lawyers: Alberta Court Ruling May Trigger Rise in Orphaned Wells
Friday, May 20, 2016 Lawyers in Canada's energy capital Calgary warned that a judge's decision to grant lenders priority over environmental clean-up costs in oil and gas bankruptcies could lead to a surge in orphaned wells in Alberta.
Oil Slips; Pressured by Strong Dollar, Stubborn Glut
Friday, May 20, 2016 Oil prices slipped on Friday as a stronger dollar encouraged investors to cash in on a second week of gains and the market stayed focused on whether unplanned supply outages were reducing a stubborn global glut.
Analysts: Oil Sands Cos Losing up to $50M a Day as Fires Rage
Friday, May 20, 2016 Out-of-control wildfires that have consumed over a million acres of land in Alberta are costing oil companies as much as $50 million a day in lost production, according to analysts.
What Will Drive LNG Growth for the Next Decade?
Friday, May 20, 2016 Pay attention to seven factors, Deloitte report advises.
Shell, Exxon Seen as Majors Most Exposed to Nigeria Attacks
Friday, May 20, 2016 Royal Dutch Shell and Exxon Mobil are the international oil companies most exposed to violence in the Niger River delta that has cut Nigeria's output and fueled a rally in global crude prices, according to Rystad Energy.
Russia's Novak Says OPEC Unlikely to Make Any Decision on 'Coordination'
Friday, May 20, 2016 Russian Energy Minister Alexander Novak said on Friday that OPEC was unlikely take any decisions on coordinated action regarding the oil market at its meeting early next month.
Brazil's Petrobras to Name Parente as CEO on Monday
Friday, May 20, 2016 The board of Brazil's state-run oil producer Petroleo Brasileiro SA will meet on Monday to formalize the nomination of Pedro Parente as chief executive, replacing Aldemir Bendine, according to a securities filing on Friday.
Libya Oil Deal Allows Small Step Toward Healing Political Divide
Friday, May 20, 2016 The political deal that allowed the restart of oil shipments from a port in eastern Libya provides short-term relief for cash-strapped authorities, but is only a small first step in a wider effort to unify the country's rival factions.
Baker Hughes: US Oil Rig Count Steady for First Time This Year
Friday, May 20, 2016 US energy firms this week kept the number of rigs drilling for oil unchanged for the first time this year, services company Baker Hughes Inc said on Friday, as crude futures trade near a seven-month high.
CFTC: Speculators Cut US Nat Gas Net Longs
Friday, May 20, 2016 US natural gas speculators cut net long positions for a third week in four, betting prices would remain low in future months to encourage power generators to burn more of the record high inventory of fuel left after a warm winter.
Brazil to Offer Petrobras CEO Job to Former Minister Parente
Thursday, May 19, 2016 Brazil's new government will formally invite well-seasoned business leader Pedro Parente to lead Petrobras, as the state-controlled oil producer struggles to reduce debt and navigate the fallout from the country’s biggest corruption scandal.
Violent Struggle Over Oil And Money Rattles Global Energy Market
Thursday, May 19, 2016 After years of relative peace, militants are again blowing up the pipelines that criss-cross the mangrove swamps of Nigeria's Niger River delta, reducing oil output to the lowest in almost three decades and fueling a rally in global crude prices.
Adviser: Big Demand for Debt Restructuring Services in Emerging Markets
Thursday, May 19, 2016 Debt restructuring advisers are being kept busy by emerging markets and demand for their services is likely to increase as weak commodities and tougher capital markets batter the sector, a top restructuring executive told Reuters.
Getting Real About Oil, Gas and its Future Workforce
Thursday, May 19, 2016 Co-founders of API's young professionals' organization speak candidly about challenges associated with the industry and how they're being proactive in addressing them.
FMC Technologies to Merge With $6.2 Billion Technip to Cut Costs
Thursday, May 19, 2016 FMC Technologies agrees to merge with French peer Technip in an all-stock deal, creating a $13 billion oil-services company with more clout after crude’s collapse.
Global Oil, Gas Layoffs Exceed 350,000
Thursday, May 19, 2016 Houston consulting firm Graves & Co. estimates more than 350,000 layoffs in oil and gas since the beginning of the downturn.
Petrobras Reopens Foreign Debt Markets for Brazilian Corporates
Thursday, May 19, 2016 Oil firm Petrobras threw open the door for Brazilian corporate issuance this week after printing a $6.75B bond - the first domestic company to sell foreign debt since June 2015.
Oil Steadies; Canadian, Nigerian Supply Issues Offset Strong Dollar
Thursday, May 19, 2016 Oil prices settled largely unchanged on Thursday as worries about Canadian and Nigerian supply outages offset the impact of a stronger dollar, which has rallied on growing expectations the Federal Reserve will raise interest rates next month.
Kuwait Sees OPEC Strategy Working As Oil Nears $50 On Demand
Thursday, May 19, 2016 OPEC's strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers including U.S. shale companies, Kuwait's acting oil minister says.
Shell Said to Start Talks With Buyers for North Sea Asset Sales
Thursday, May 19, 2016 Royal Dutch Shell is in talks with potential buyers for some North Sea assets, mostly fields it got this year as part of the record acquisition of BG Group, according to people familiar with the matter.
Confidence Low Among North Sea Contractors, Further Job Losses Expected
Thursday, May 19, 2016 Seventy-five percent of North Sea oil and gas contractors are less confident about their prospects on the UK Continental Shelf than they were a year ago, according to a new industry report.
AEP Says Spin Offs Won't Be Hit by Closure of McClendon's Firm
Thursday, May 19, 2016 The closure of American Energy Partners after the sudden death of founder Aubrey McClendon will not affect companies it formed and spun off with Texas-based private equity firm Energy & Minerals Group, according to an AEP statement seen on Thursday.
Incoming UN Climate Chief Seeks Swift Action: At Odds With Trump
Thursday, May 19, 2016 The United Nations's incoming climate chief said on Thursday she will push for rapid action under a UN accord to slow global warming and expressed hopes that US GOP presidential candidate Donald Trump will drop calls for a renegotiation if elected.
Walter Energy Defeats Union Bid to Save Contracts and Benefits
Thursday, May 19, 2016 Walter Energy defeated an attempt by union workers to salvage job contracts and keep retiree benefits after a judge upheld a lower court ruling allowing the bankrupt coal producer to reject labor agreements.
IS Unlikely to Gain Control of Libya's Oil
Wednesday, May 18, 2016 IS is unlikely to gain control of Libya's oil, says Martijn Murphy, Wood Mackenzie's research manager for North African upstream oil and gas.
Canadian Oil Exports Drop, Supply Hunt on Amid Wildfires
Wednesday, May 18, 2016 In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week.
Halcon Reaches Pact with Creditors on Prepackaged Bankruptcy Plan
Wednesday, May 18, 2016 Halcón Resources, which produces oil in Texas and North Dakota, says it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices.
Russell: China's Surging Crude Oil Imports For Storage May Ease
Wednesday, May 18, 2016 China appears to be stockpiling crude oil at a faster pace than the market had expected, taking advantage of low prices but perhaps also pulling forward its demand for imported crude.
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