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Will Oil Producers Do As They Say Or Do As They Sell?

Industry Headlines

Will Oil Producers Do As They Say Or Do As They Sell?
Wednesday, December 13, 2017 North America's oil producers have adopted a meek tone of late. But the numbers suggest they're locked and loaded heading into 2018.

OPEC Sees Balanced Oil Market By Late 2018 As Cuts Erode Glut
Wednesday, December 13, 2017 OPEC expects the world oil market to be balanced by late 2018.

Petrofac Secures Almost $1B in New Contracts
Wednesday, December 13, 2017 Oil and gas services company Petrofac has secured almost $1 billion in new contracts from Basra Oil Company (BOC) and BP plc.

Oil Slips As US Gasoline Stock Build Overshadows Crude Draw
Wednesday, December 13, 2017 Oil prices slipped for a second straight day.

Saudi Aramco Lifts Spending Plans To $414B Over Next Decade
Tuesday, December 12, 2017 Saudi Aramco plans to raise its spending to $414 billion over the next 10 years.

Industry Body Welcomes Arrival of New North Sea Player
Tuesday, December 12, 2017 Industry body Oil & Gas UK welcomes the arrival of new exploration and production joint venture Spirit Energy.

Rigzone Poll: Age Discrimination a Concern in Oil and Gas
Tuesday, December 12, 2017 Two-thirds of poll participants report first-hand experience with age discrimination.

Crude Slips as Worries Soften Over North Sea Oil Pipeline Crack
Tuesday, December 12, 2017 Fears subsided that a hairline crack in one of the world's most important oil pipelines would cause a major supply disruption.


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Exploration

Oasis Petroleum Adds More Acreage In Delaware Basin For $946MM
Monday, December 11, 2017 Oasis Petroleum says it would buy more acreage in the Delaware Basin.

Mexico Says Deepwater Oil Tender Doomed By Brazil Competition
Friday, December 08, 2017 Pemex blames the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite.

Petrochina Conducts Major Internal Transfer Of Oil, Gas Blocks
Friday, December 08, 2017 PetroChina conducts its first major internal transfer of mining rights between subsidiaries to allow those with mature fields to look for oil and gas in under-developed regions.

Seismic Survey Offshore Mozambique Commences
Friday, December 08, 2017 Seismic imaging specialist Spectrum announces the commencement of a 2D seismic survey offshore Mozambique on behalf of the Institute of National Petroleum.

Po Valley Energy Announces 'Positive' Results from Well Onshore Italy
Wednesday, December 06, 2017 Po Valley Energy announces positive log results from the drilling of the Podere Maiar 1 (PM1) well on the Selva gas field onshore Italy.

While Senate Pushes ANWR Drilling, Industry Looks Elsewhere
Tuesday, December 05, 2017 Even as the US Senate moves to allow oil drilling in Alaska's ANWR, the real action is 150 miles (241 km) west.


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Production

Tambar Field Production Recommences
Wednesday, December 13, 2017 Independent oil and gas company Faroe Petroleum announced Wednesday that production from the Tambar field in Norway has recommenced.

DNO Triples Production at Peshkabir Field
Monday, December 11, 2017 Production from the Peshkabir field in the Kurdistan Region of Iraq's Tawke license has tripled to 15,000 barrels of oil per day.

Eni Can Restart Production At Arctic Goliat Oilfield -Norway Regulator
Friday, December 08, 2017 Italian oil firm Eni receives permission to restart production at its Goliat oilfield in the Arctic Barents Sea.

Brunei Oil Production to Grow Over Next 5 Years
Thursday, December 07, 2017 Brunei's oil production will grow over the next 5 years, supported by output maintenance works at mature assets.

EIA: US Crude Stockpiles Slump, Gasoline Builds More Than Expected
Wednesday, December 06, 2017 US crude oil stockpiles fell more than expected last week as refineries hiked output.

Greece, Italy, Israel and Cyprus Back Natgas Pipeline To Europe
Tuesday, December 05, 2017 Italy, Greece, Cyprus and Israel agree to back the construction of a gas pipeline from newly discovered fields.


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Finance and Investing

Natgas Producer EQT To Spend $2.4B In 2018
Wednesday, December 13, 2017 EQT says it expects to spend $2.4 billion next year.

Private Oil Companies To Invest Up To $4.9B In Colombia In 2018
Wednesday, December 13, 2017 Private oil companies in Colombia will invest between $4.5 billion and $4.9 billion next year.

Norway Oil Investment To Fall Less Than Expected - Lobby Group
Tuesday, December 12, 2017 Oil and gas investments in Norway are expected to fall for a fourth consecutive year in 2018 but will turn higher in 2019.

Oil, Gas Investment Resources Ramping Up in 4Q
Friday, December 08, 2017 Select energy funds are anticipating a pick-up in investments in 2018.

Energy Bonds Trade Like Stocks as Wildcatters Get Religion
Wednesday, December 06, 2017 For the first time in months, energy bond and stock investors are both feeling good.

Thailand's Gulf Energy Marks Market Debut with 27.8% Jump
Wednesday, December 06, 2017 Gulf Energy Development PCL makes its market debut with shares trading at 27.8 percent above their initial public offer.

Britain's Genel Energy Seeks To Cut Bond Debt To $300 Mln
Wednesday, December 06, 2017 Iraqi Kurdistan-focused oil producer Genel Energy plc is seeking to reduce its bond debt to $300 million from the currently outstanding $421.8 million.

Chinese Firm Rescinds Takeover Offer For Australia's AWE
Tuesday, December 05, 2017 Bid to buy AWE has been formally withdrawn.


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Company Operations

Mozambique President Sacks Energy And Foreign Ministers
Wednesday, December 13, 2017 Mozambican President Filipe Nyusi has sacked 4 ministers, including those with the foreign affairs and energy portfolios, his office said in a statement late on Tuesday.

UK's Wood Group Sees 2017 Core Earnings Of $590-$600MM
Wednesday, December 13, 2017 John Wood Group, which bought smaller rival Amec Foster Wheeler earlier this year, expects 2017 core earnings of between $590 million and $600 million.

Aker Solutions Wins Modification Contract
Wednesday, December 13, 2017 Aker Solutions has won an order from Maersk Drilling to modify the production module on the Mærsk Inspirer jack-up rig for the Repsol-operated Yme oilfield offshore Norway.

Saffron Energy Unveils Board Changes
Tuesday, December 12, 2017 Saffron Energy plc announces a number of changes to its board.

Kuwait Replaces Oil And Finance Ministers - State News Agency
Monday, December 11, 2017 Kuwait replaced its oil and finance ministers in a cabinet reshuffle on Monday, state news agency KUNA reported.

Subsea UK Unveils New Board for 2018-19
Monday, December 11, 2017 Industry body Subsea UK has unveiled its new board for 2018-19, following a members' ballot at its Annual General Meeting.


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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

EIA: US Crude Stockpiles Fall For Fourth Week On Huge Cushing Draw
Wednesday, December 13, 2017 USr crude oil stockpiles fell for a fourth straight week with the biggest slump in supplies at the Cushing, Oklahoma, hub in 8 years.

Ineos Considers Shifting Grangemouth Work Due To Forties Outage -Sources
Wednesday, December 13, 2017 Ineos may bring forward maintenance work at its Grangemouth refinery in Scotland due to the unplanned outage at its Forties North Sea crude pipeline.

Refining Capacity Growth In Nigeria Will 'Substantially' Erode Exports
Wednesday, December 13, 2017 Nigeria's projected growth in refining capacity over the early 2020s will 'substantially' erode the country's crude oil exports due to a 'weak' new project pipeline.

Ineos Says Grangemouth Oil Refinery Running Amid Forties Pipeline Closure
Tuesday, December 12, 2017 Scotland's 200,000 bpd Grangemouth oil refinery has enough crude to keep running.

Permian Basin Refinery Project Doubles in Capacity
Tuesday, December 12, 2017 With project expansion, region's refining capacity to grow from 300,000 to 400,000 bpd. SOURCE: MMEX Resources Corp.

US Fuels the World as Shale Boom Powers Record Oil Exports
Tuesday, December 12, 2017 The world's largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down.

UAE's ADNOC Proposes Change To Oil Price Mechanism
Monday, December 11, 2017 ADNOC seeks feedback from Asian buyers on whether it should change its monthly pricing mechanism.


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Biofuels

White House Pressures Big Corn To Meet On US Biofuels Policy
Friday, December 08, 2017 President Trump's administration called lawmakers from the US corn belt to convince them to join talks about potential changes to biofuels policy.

GE's 12,000 Job Cuts Highlight Uneasy Shift to Renewable Energy
Friday, December 08, 2017 GE points to the growth of renewables as a factor in its decision to cut jobs.

Trump Open Biofuel Policy Reform, Senators Say After Meeting
Thursday, December 07, 2017 Trump is open to reforming the country's biofuels policy if it can be done in a way that protects jobs in both the refining and agriculture industries, senators say.

Engie Plans To Go Green Via Biogas And Renewable Hydrogen
Monday, December 04, 2017 Engie plans to switch all of its gas operations to biogas and renewable hydrogen by 2050, making it 100% green, its chief executive says.

A $12B Clean-Energy Tool That US Tax Reform Could Kill
Friday, December 01, 2017 The tax-reform proposal moving through the US Senate would hobble - and potentially cripple - the supply of tax-equity investment.

Refining Group Chief: 'King Corn' Wins with Latest RFS Volumes
Thursday, November 30, 2017 Renewable fuels, oil refining interests find flaws.


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Petrochemical

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.

CB&I Gets Go-ahead for Kazakhstan Petchem Project
Monday, December 11, 2017 KPI gives CB&I full notice to proceed for project management services.

Saudi Arabia's SABIC Looking At Investing In US
Wednesday, December 06, 2017 SABIC is considering several possible investments in the United States.

Sasol Shifts Strategy, Evaluates Chemical Business Split
Wednesday, November 29, 2017 Sasol will consider carving out a separate company from its expanding chemicals business.

Pertamina Signs JV Deal With Russia's Rosneft For New Tuban Refinery
Tuesday, November 28, 2017 Pertamina Signs JV Deal With Russia's Rosneft For New Tuban Refinery

CEO: SABIC Plans To Spend $3-$10B In Acquisitions Over Next 5 Years
Tuesday, November 28, 2017 Petrochemical producer Saudi Basic Industries Corp (SABIC) plans to spend between $3 and $10 billion on acquisitions over the next 5 years.


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Pipelines

Anti-Pipeline Group Goes Back To Work Against Keystone XL
Wednesday, December 13, 2017 Nebraska's main anti-pipeline group is trying to rally opposition to the TransCanada Keystone XL project's recently approved route through the state.

Russian Gas Transit Va Ukraine Falls 23% After Austria Hub Blast
Wednesday, December 13, 2017 Russian gas transit through Ukraine dropped 23% in the wake of an explosion at Austria's Baumgarten gas hub.

Deadly Blast At Austrian Pipeline Hub Slashes Gas Flow To Italy
Tuesday, December 12, 2017 An explosion and fire that ripped through Austria's main gas pipeline hub kills one and injures 21.

Canadian Oil Collapses Amid Pipeline and Rail Bottleneck
Tuesday, December 12, 2017 Heavy Canadian crude fell to a three-year low against benchmark prices as bottlenecks on pipelines and rail networks crimped exports.

CML to Acquire 65% Interest in Esmond Transportation System
Tuesday, December 12, 2017 CATS Management Limited (CML) agrees to acquire a 65% interest in the Esmond Transportation System (ETS).

Britain's Biggest Oil Pipeline Shut 'For Weeks' For Repairs
Monday, December 11, 2017 Britain's largest oil pipeline could shut down for weeks for unscheduled repair work.

Phillips 66, Enbridge Launch Open Season for Texas Pipeline System
Monday, December 11, 2017 Crude oil pipeline system to link West Texas to Gulf Coast refineries, export facilities.

Kinder Morgan Canada Rises Most Since IPO on Pipeline Decision
Friday, December 08, 2017 Shares in Kinder Morgan Canada Ltd rose as much as 9.5% to a 4-month high early Friday.


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Terminals and Storage

Sources: Mexico's Pemex Declares Force Majeure On Isthmus Crude Oil
Wednesday, November 29, 2017 Pemex declares force majeure on the loading of Isthmus crude, two sources with knowledge of the matter say.

Winter, Dwindling Stocks Draw Wave Of Diesel To New York
Wednesday, November 29, 2017 A wave of tankers carrying diesel was heading for the New York Harbor trading hub on Wednesday.

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.


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LNG/LPG

After Europe's Gas Market Disasters, LNG May Come to the Rescue
Tuesday, December 12, 2017 After all the craziness in Europe's gas markets this week, some relief supplies may already be on their way from deep in the Russian Arctic.

Russia Aims To Win 15-20% Of Global LNG Market - Novatek CEO
Tuesday, December 12, 2017 Russia's government has set a target of winning between 15 and 20 percent of the global market for liquefied natural gas.

Cheniere Boosts LNG Tanker Fleet Amid Asian Demand Boom
Tuesday, December 05, 2017 Cheniere Energy expands shipping fleet with a flurry of spot vessel charters to keep up with Asian winter demand growth.

Russia Starts Up Second LNG Plant In Remote Arctic
Tuesday, December 05, 2017 Russia starts production at its second liquefied natural gas plant, Yamal LNG, with the aim of shipping the first cargo on Dec. 8 from the remote Arctic port of Sabetta.

Report: LNG Project Sanction Uptick in 2018
Tuesday, December 05, 2017 There will be an uptick in the number and capacity of LNG projects sanctioned in 2018, according to a new report.

Asia Spot Stays Near 3-Year High For Third Week
Friday, December 01, 2017 Asian spot LNG prices were unchanged for a third week.


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