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Survey Finds N. America Respondents Bearish on Oil Price Predictions

Industry Headlines

Trump's Offshore Oil Plan Will Struggle to Lure Rigs From Guyana
Wednesday, January 17, 2018 A string of major discoveries offshore Guyana has drawn hundreds of millions of dollars in a quest for crude.

Kuwait Oil Minister Says So Far No Plan To Exit Oil Cuts
Wednesday, January 17, 2018 Kuwait's oil minister Bakhit al-Rashidi says there is no plan or intention so far to exit from a production-cutting agreement among OPEC and non-OPEC oil producers.

NDA to Carry Out 'Deadly' Attacks in Next Few Days
Wednesday, January 17, 2018 The Niger Delta Avengers (NDA) warns that it will carry out deadly attacks on Nigerian oil sector players in the next few days.


Hess Cutting Hundreds of Workers As It Battles Activist Investor
Tuesday, January 16, 2018 Hess Corp is cutting roughly 13 percent of its workforce.

Penguins FID Marks End of Cautious North Sea Era
Tuesday, January 16, 2018 Royal Dutch Shell plc's decision to go ahead with the redevelopment of the Penguins oil and gas field marks the end of the cautious North Sea era.

ExxonMobil Reports Papua New Guinea Discovery
Tuesday, January 16, 2018 Latest PNG discovery confirms southeast extension of P'nyang field.


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Exploration

Greece Gets Interest For New Offshore Oil And Gas Tenders: Licensing Body
Wednesday, January 17, 2018 Tenders for offshore oil and gas exploration and exploitation west and south of Greece have attracted 'strong interest'.

Norway Hands Out 75 New Production Licenses in Record Breaking Round
Wednesday, January 17, 2018 Thirty-four companies have been offered a total of 75 new production licenses on the Norwegian continental shelf.

Exploration to Increase in 2018 but Investment Constraints Remain
Wednesday, January 17, 2018 Exploration activity will increase in 2018, but market uncertainty and the need to manage debt levels will remain key constraints to investment.

NPD Grants Spirit Energy Drilling Permit for Well Offshore Norway
Tuesday, January 16, 2018 The Norwegian Petroleum Directorate grants Spirit Energy Norge AS a drilling permit for well 6506/9-4 S.

Hope Wanes for 'Elephant' Oil Discoveries in Norway's Arctic
Friday, January 12, 2018 After a disappointing year for drillers, Norwegian authorities are reviewing their hopes.

Iraq Says 26 Companies Allowed To Bid For Oil, Gas Blocks In Border Areas
Friday, January 12, 2018 The Iraqi oil ministry says 26 companies have qualified to bid for oil and gas blocks in border areas.


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Production

US Oil Industry Set to Break Record, Upend Global Trade
Tuesday, January 16, 2018 The question of whether the shale sector can continue at this pace remains an open debate.

Shell to Redevelop Penguins Field in UK North Sea
Monday, January 15, 2018 Shell confirms that it will redevelop the Penguins oil and gas field in the UK North Sea.

North Sea Fields Resume Production Following FPS Repair
Friday, January 12, 2018 The Bruce, Keith and Rhum fields resume production following the successful repair of the Forties Pipeline System.

Groningen Gas Output Cut To Be Examined-Dutch Regulator
Thursday, January 11, 2018 The Dutch gas regulator will respond on Thursday to proposals to reduce output from the Groningen gas field following a tremor there this week.

NPD: Norwegian Production to Increase to 2023
Thursday, January 11, 2018 Norwegian production will continue to increase to 2023, according to the Norwegian Petroleum Directorate (NPD).

Premier Oil to Ramp Up Output at North Sea Catcher Field
Thursday, January 11, 2018 Premier Oil is planning to ramp up production from the Catcher field in the North Sea to 60,000 barrels of oil per day.


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Finance and Investing

Croatia Says At Least Seven Firms Want INA Buyback Role
Wednesday, January 17, 2018 Croatia receives 7 offers from potential advisers to help the government find the best way to buy back shares of energy firm INA.

US Warns Investors Over Venezuela's 'Petro' Cryptocurrency
Tuesday, January 16, 2018 "(It) is another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people," a Treasury spokesman told Reuters.

BP Expects to Take $1.7B Deepwater Horizon Charge
Tuesday, January 16, 2018 BP expects to take a post-tax non-operating charge of around $1.7 billion in its fourth quarter 2017 results.

Norway's Aker BP Raises 2018 Dividend Forecast, More To Come
Monday, January 15, 2018 Aker BP will pay out $450 million in dividends for 2018, $100 million more than previously indicated.

Aker Completes Senior Unsecured Bond Issue
Friday, January 12, 2018 Oil and gas services company Aker Solutions successfully completes a $188 million (NOK 1.5 billion) senior unsecured bond issue.

Poland's Pgnig Plans To Spend Half Of 2017 Profit On Dividend-CEO
Thursday, January 11, 2018 Poland's dominant gas firm PGNiG plans to spend half of 2017 profit on dividend, CEO Piotr Wozniak told Reuters on Thursday.


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Company Operations

Tellurian Set to Boost Louisiana Gas Holdings Tenfold
Tuesday, January 16, 2018 Tellurian plans to start building its Driftwood LNG export terminal in Louisiana next year.

Offshore Achievement Awards Finalists Revealed
Tuesday, January 16, 2018 The finalists for the Offshore Achievement Awards have been revealed.

Noble Group Nets Less Than Expected From Oil Unit Sale To Vitol
Monday, January 15, 2018 Noble Group completes the sale of its U.S.-focused oil business to the world's largest oil trader Vitol.

EIC Takes On New Chairman
Monday, January 15, 2018 The Energy Industries Council (EIC) announces the appointment of Hugh Saville as the new chairman of its board of directors.

Wentworth Appoints New CEO
Monday, January 15, 2018 East Africa-focused oil and gas company, Wentworth Resources Limited, appoints Eskil Jersing as its new CEO.

Liberty Oilfield Services CEO Sees Muted Response To Crude Price Rise
Friday, January 12, 2018 Oil producers are unlikely to significantly expand drilling budgets this year despite the recent run-up in crude prices, Liberty Oilfield Services' CEO says.


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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

Oil at $70 Proves Too Hot to Handle for Some European Refineries
Wednesday, January 17, 2018 High imports of fuels like diesel from the Middle East are also capping profits for European refiners.

Algeria's Sonatrach To Refine Crude Abroad To Cut Fuel Import Bill -CEO
Tuesday, January 16, 2018 Sonatrach plans to send oil abroad for refining as it seeks to lower a fuel bill that reached a record $2.5 billion last year.

India's Modi Launches $6.8Bln Refinery In Desert State Of Rajasthan
Tuesday, January 16, 2018 Indian Prime Minister Narendra Modi launches the construction of a $6.8 billion refinery in the western state of Rajasthan.

As Crude Rallies, Husky May Gain as Top Oil-Sands Stock Pick
Monday, January 15, 2018 Husky Energy, the best oil-sands stock last year, may emerge as a top pick for investors.

Russell: China's Oil Product Export Surge Shows Risks To OPEC's Gains
Monday, January 15, 2018 The standout feature of China's crude oil and product trade data for December was the surge in exports of refined fuels to a record, but it already appears that this dynamic may not be sustainable.

India's 2017 Oil Demand Growth Posts Lowest Gain Since 2013
Thursday, January 11, 2018 Indian oil consumption in 2017 grew at its slowest in 4 years, according to government statistics.

Algeria Sends More Oil To Cuba As Venezuelan Supplies Fall
Wednesday, January 10, 2018 Algeria sent 2.1 million barrels of crude oil to Cuba last year and will ship the same amount in 2018, an official at Sonatrach says.


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Biofuels

Shell Ventures Back Into Solar
Monday, January 15, 2018 Shell agrees to acquire a stake in a US solar company, 12 years after exiting the sector.

Shell Braces for Change by Expanding Its Foothold in Electricity
Friday, January 12, 2018 Shell is taking small steps toward a future dominated by electric cars, renewable energy and carbon constraints.

Oil, Gas Majors to Boost Renewable Spend
Friday, January 12, 2018 Oil and gas majors will continue to strengthen investment into renewable energy and low carbon technology through 2018.

A New Era of Batteries Spells Trouble for Gas in America
Thursday, January 11, 2018 California's recent move spells trouble for power plants all across the US that run on natural gas.

Shell to Build Solar Power Plant at Moerdijk
Thursday, January 11, 2018 Shell's chemical plant in Moerdijk, the Netherlands.

Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory
Wednesday, January 10, 2018 New York City sues BP, Chevron, ConocoPhillips, ExxonMobil and Shell claiming they're the world's largest industrial contributors to climate change.


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Petrochemical

Saudi Aramco Hires Former Shell Executive For Chemicals Business
Wednesday, January 10, 2018 State oil giant Saudi Aramco hires Olivier Thorel, a former senior executive at Royal Dutch Shell, as executive director for its chemicals business.

China's Sinochem Ties Up With Private Chemical Group In Oil Trading
Wednesday, January 10, 2018 Sinochem Group has agreed on a framework deal with China's private chemical giant Hengli Group.

McDermott CEO Bets on Next Turnaround at Ailing Chicago Bridge
Tuesday, January 09, 2018 Shares are ticking back up as Dickson vows to do at Chicago Bridge what he did at McDermott.

Borealis Taps Jacobs for Belgium PDH Plant Study
Wednesday, January 03, 2018 Proposed 740-kiloton facility would be one of world's largest PDH plants.

Gulf Mostly Rises On Oil Surge; Saudi Petchems, Builders Up
Wednesday, December 27, 2017 An overnight surge in the Brent oil price above $67 a barrel for the first time since May 2015 helped most Gulf stock markets rise.

Shell Says Fire Extinguished At Singapore Refinery-Petchem Plant
Monday, December 11, 2017 Shell says a fire at its Singapore refinery-petrochemical site was extinguished on Sunday.


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Pipelines

Pumping On Colombia's Transandino Pipeline Halted After Bomb Attack
Monday, January 15, 2018 Pumping on Colombia's southern Transandino pipeline was halted on Sunday after a bomb attack.

Russia's Gazprom Plans To Invest 182.4B Roubles In Turkstream In 2018
Monday, January 15, 2018 Gazprom plans to invest $3.2 billion this year in the TurkStream pipeline project.

Nigeria State Oil Firm Says Gas Pipeline Explosion Has Not Affected Supply
Friday, January 12, 2018 Nigeria's state oil firm says the supply of gas had not been affected by an explosion the previous day on a major pipeline.

US Upholds NY Denial Of Constitution Natgas Pipe
Friday, January 12, 2018 Energy regulators reject Williams Cos' request to overturn New York's denial of a water permit for the company's proposed Constitution natural gas pipeline from Pennsylvania to NY.

Russia's Transneft Says Dispute With Sberbank Resolved
Friday, January 12, 2018 Russian oil pipeline monopoly Transneft resolves its dispute over financial derivatives with the country's largest lender, Sberbank.

Ohio Officials Worry About Possible New Spills From Rover Natgas Pipe
Friday, January 12, 2018 Ohio environmental regulators told federal energy regulators the state has significant concerns about the potential for a spill from Energy Transfer Partners' drilling.


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Terminals and Storage

Ukraine Will Buy Gas From Russia This Year - Naftogaz Chief
Wednesday, January 17, 2018 Ukraine will return to buying gas from Russia in 2018, ending a more than two-year hiatus.

Statoil May Build Onshore Terminal for Castberg Oil -Minister
Tuesday, January 16, 2018 A report on the proposal is expected in 2019, Minister of Petroleum and Energy Terje Soeviknes told Reuters on the sidelines of a conference.

Japan Sees Little Chance Of Oil Slick From Sunk Tanker Reaching Its Coast
Tuesday, January 16, 2018 Japan sees little chance of the oil spill from a stricken Iranian tanker that sank on Sunday in the East China Sea reaching its shores.

Coast Guard: Stricken Iranian Oil Tanker Drifts Into Japan's Economic Zone
Friday, January 12, 2018 Japan's Coast Guard says a stricken Iranian oil tanker has drifted away from the Chinese coast and into Japan's exclusive economic zone.

Saudi-Led Coalition Says Thwarts Houthi Attack On Oil Tanker
Wednesday, January 10, 2018 The Saudi-led coalition fighting in Yemen says it had thwarted an attack on a Saudi oil tanker over the weekend.

Explosion On Iranian Oil Tanker Forces Rescue Team To Retreat
Wednesday, January 10, 2018 Rescue crews were forced to retreat from a stricken Iranian oil tanker in the East China Sea following an explosion on the ship.


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LNG/LPG

Cheniere Signs 15-year LNG Supply Pact with Trader Trafigura
Tuesday, January 16, 2018 LNG deliveries to Trafigura, one of the biggest independent traders of the fuel, will begin in 2019, Cheniere said.

India's GAIL Renegotiates LNG Deal With Gazprom
Tuesday, January 16, 2018 Gas utility GAIL (India) Ltd renegotiates the terms of a long-term liquefied natural gas (LNG) purchase deal with Russia's Gazprom.

China's Gas Imports Jump To Record High As Winter Weather Bites
Friday, January 12, 2018 China's natural gas imports soared to a record in December as the country battled a winter supply crunch.

Production Outages Tighten Asian Gas Market
Friday, January 12, 2018 Asian spot LNG prices rose this week on falling production from Russia, Angola and Malaysia in an already tight market.

US Becomes a Net Gas Exporter for the First Time in 60 Years
Thursday, January 11, 2018 America's trade imbalance just got a wee bit smaller.

Baltic Exchange To Develop LNG Freight Index With Ship Brokers
Thursday, January 11, 2018 The Baltic Exchange is looking into launching a freight index for LNG.


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