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Significant Commercial Gas Discovery Found Onshore Italy

Industry Headlines

Oil Prices Fall As Rally Falters On Growing US Output Concerns
Friday, January 19, 2018 Oil prices ended down on Friday and broke a four-week winning streak after a rally that had taken benchmarks to three-year highs.

Decision On Oil Pact Could Come In Late Spring, Early Summer-Russian Dep PM
Friday, January 19, 2018 A decision on global oil output cuts could be made in late spring or early summer.

New Cepsa, Sonatrach Contract Expected to Generate 1,500 Jobs
Friday, January 19, 2018 New contract in Algeria is expected to lead to the generation of up to 1,500 new jobs.

Kemp: Peak Oil Demand And Its Implications For Prices
Friday, January 19, 2018 Even if oil consumption reaches a peak and then starts to fall, the world will still need large quantities of oil for many decades to come.

CHC Reaffirms Commitment to North Sea Energy Sector
Friday, January 19, 2018 Helicopter services company CHC breaks ground on a $6 million redevelopment of its Aberdeen base.

Nigeria Passes Major Oil Reform Bill After 17 Year Struggle
Thursday, January 18, 2018 Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation.

BLOG: Houston Metro Still Most Profitable for STEM Grads
Thursday, January 18, 2018 According to analysis by WalletHub, STEM professionals can make the most bank in Houston's metropolitan area.

Glut Fears Thwart Oil Rebound After Record Draw From Storage Hub
Thursday, January 18, 2018 A record draw from America's largest crude storage hub helped lift prices from the day's lows, but not enough to ease fears.


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Exploration

Mexico's Energy Opening Faces Test In Deepwater Oil Auction
Friday, January 19, 2018 An auction of deepwater oil and gas fields in Mexico this month may prove the last major opportunity for President Enrique Pena Nieto's government to capitalize on its opening of the energy sector.

Significant Commercial Gas Discovery Found Onshore Italy
Friday, January 19, 2018 A significant commercial gas discovery has been made at the Selva gas field in northern Italy, Po Valley Energy Limited (PVE) confirms.

India to Auction 55 Oil and Gas Exploration Blocks
Wednesday, January 17, 2018 The world's third biggest oil importer last year eased rules and allowed companies to carve out areas where they want to drill.

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.


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Production

Crisis-Hit Venezuela's Oil Output Plummets In 2017 To Decades Low
Thursday, January 18, 2018 Venezuela's crude oil production fell nearly 13% last year, according to figures released by OPEC.

Iraq, BP Sign Deal To Boost Kirkuk Crude Output - Oil Ministry
Thursday, January 18, 2018 Iraq signs a memorandum of understanding with BP to boost production capacity from its northern Kirkuk oilfields.

Tulip Oil Presses Ahead with 'Major' Offshore Producing Asset
Thursday, January 18, 2018 Tulip Oil Netherlands Offshore B.V. confirms that it will proceed with the development of the Q10 gas field.

Oil Producers Want New Hearing on Impact of Magellan Proposal
Wednesday, January 17, 2018 Oil and gas producers WPX Energy and Chevron have asked a U.S. regulator for a new hearing on the broad industry impact of Magellan Midstream Partners' request to launch a marketing arm.

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.


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Finance and Investing

VNG to Explore Strategic Options to Maximize E&P Business Value
Friday, January 19, 2018 VNG AG looking to explore 'strategic options' to maximize the value of its oil and gas exploration and production business in Norway and Denmark.

Vitol Agrees $530 Mln Oilfield Deal With Nigeria's Shoreline
Thursday, January 18, 2018 European trading house Vitol reaches deal with Shoreline to finance an oilfield in exchange for access to some of the 50,000 barrels per day it produces.

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.


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Company Operations

Schlumberger Profit Beats, Predicts Strong 2018 For Shale
Friday, January 19, 2018 Schlumberger expects another strong year for shale drilling in 2018 along with its first international business growth in four years.

Enquest Seeks Buyers For Stake In North Sea Kraken Field
Thursday, January 18, 2018 EnQuest hires investment bank Jefferies to advise on a sale of a 20% stake in its recently-started Kraken field, according to a document seen by Reuters.

Ithaca Energy to Sell Entire Interest in PL089, P534, PEDL 328
Thursday, January 18, 2018 Ithaca Energy agrees to sell its entire interest in licenses PL089, P534 and PEDL 328 to Verus Petroleum SNS Limited.

API's Jack Gerard to Step Down
Wednesday, January 17, 2018 After serving for 10 years as president and CEO of the API, Jack Gerard is calling it quits.

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.


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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

Saudi's Refined Oil Exports Offset Crude Curbs
Friday, January 19, 2018 The share of Saudi Arabia's exports of refined oil products steadily rose throughout 2017, offsetting a drop in overseas crude oil sales.

IEA Sees Oil Markets Tightening As Venezuelan Output Collapses
Friday, January 19, 2018 Global oil markets are tightening quickly on falling supply from Venezuela, IEA says.

US Refiners Are Riding High With Strong Margins, Tax Boost
Friday, January 19, 2018 US refiners are off to a strong start start in 2018, even as competitors elsewhere are hitting harder times.

Shell to Deploy Pioneering Electrolysis Tech at German Refinery
Thursday, January 18, 2018 Shell's Rhineland refinery in Wesseling, Germany. SOURCE: Shell

EIA: US Crude Stocks Drop, Led By Record Outflow From Cushing Hub
Thursday, January 18, 2018 US crude oil stocks fell for a ninth straight week, led by a record drawdown at the US storage hub in Cushing, Oklahoma, EIA says.

China Fuel Blenders,Independent Refiners to Feel Squeeze from New Tax Rules
Wednesday, January 17, 2018 The rules address a long-held complaint by China's state-owned oil companies.

India's Reliance Declares 30pct Higher Refinery Capacity at Export Plant
Wednesday, January 17, 2018 he new capacity is the equivalent of 704,000 bpd of crude processing.

UK Firm Intertek Says Employee Involved in Shell Oil Theft Case
Wednesday, January 17, 2018 Muhammad Ali bin Muhammad Nor faces two charges of conspiring with Shell employees as part of a scheme to steal oil from Shell's Palau Bukom industrial site, court documents show.

Frigid Blast to South Hits Refineries as Power Prices Spike
Wednesday, January 17, 2018 A blast of Arctic air pushing deep into the South hindered refinery operations in the region, sent natural gas prices soaring and drove electricity demand in Texas to a record high.


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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

CB&I, Chevron Lummus Global, Saudi Aramco Launch 'Crude-to-Chemical' JV
Thursday, January 18, 2018 Three-way agreement is 'technological first,' says Saudi Aramco president.

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.


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Pipelines

Ohio Again Asks US Regulators To Stop Drilling On Rover Natgas Pipe
Friday, January 19, 2018 Ohio environmental regulators asked federal energy regulators to order Energy Transfer Partners LP to cease drilling operations on the Rover natural gas pipeline.

Russia's Transneft: Oil Pipeline Fire Will Not Affect Export Schedule
Friday, January 19, 2018 A fire at the Samara-Tikhoretsk pipeline will not affect Russia's oil export schedule.

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.

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

Russell: China May Cause Larger Seasonal Swings In LNG Prices
Thursday, January 18, 2018 There is little doubt that China's voracious appetite for LNG is the prime mover behind the spot price for the fuel reaching its highest in more than three years, but what happens next?

Woodside Bullish On Australian Pluto LNG Expansion Prospect
Thursday, January 18, 2018 Woodside Petroleum expects to reveal plans for expanding its prized Pluto LNG project and connecting it to the North West Shelf LNG complex soon.

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.


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