Oil & Gas News

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What to Look for in Oil, Gas in 2018

Industry Headlines

What to Look for in Oil, Gas in 2018
Tuesday, January 23, 2018 Brian Williams of Carl Marks Advisors shares insights on what the industry can expect regarding E&P investment, M&A deals and trends for 2018.

Oil Rises on Saudi-Russian Alliance Talk After Market Hesitates
Monday, January 22, 2018 Oil closed higher after Saudi Arabia and Russia signaled production cuts may be extended into 2019.

Big Global Oil Projects Are Starting to Get Off the Ground
Monday, January 22, 2018 The global oil industry's backlog of big drilling projects is starting to shrink as prices improve.

Sheriff's Office: 5 Workers Missing In Explosion At Oklahoma Drilling Site
Monday, January 22, 2018 Five workers were missing in a gas explosion on Monday at an Oklahoma drilling site.

Oil Market 'Heading In The Right Direction' - Iraq
Monday, January 22, 2018 The global oil market is stabilising as crude inventories are falling, Iraqi Oil Minister Jabar al-Luaibi says.

Oil, Gas Will Help Scottish Economy Grow in 2018
Monday, January 22, 2018 Scotland's economy is expected to continue growing in 2018, supported by an improved outlook for the oil and gas sector.

Oil Rises As Saudi Arabia Says Producers Will Cooperate Beyond 2018
Monday, January 22, 2018 Oil prices climb higher after comments from Saudi Arabia that cooperation between oil producers would continue beyond 2018.


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Exploration

Total To Buy Shares In Kenyan Oil Blocks From A.P. Moeller-Maersk
Tuesday, January 23, 2018 Total SA is to buy shares in 3 Kenyan oil blocks from A.P. Moeller-Maersk.

SDX Energy Makes Gas Discovery at Moroccan Well
Tuesday, January 23, 2018 SDX Energy makes a gas discovery at its ONZ-7 development well, located on the Sebou permit in Morocco.

BP, Kosmos Win Rights To Two Oil Blocks In Sao Tome And Principe
Tuesday, January 23, 2018 A consortium of BP and Kosmos Energy has won exploration rights to 2 offshore oil blocks in Sao Tome and Principe's exclusive economic zone.

Oil Companies Limiting Risk Offshore Norway
Monday, January 22, 2018 Oil companies are proceeding with caution offshore Norway, according to a new report from BMI Research.

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.


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Production

Norwegian Output Increases in December
Tuesday, January 23, 2018 Norwegian production increased in December 2017, according to preliminary production figures released by the Norwegian Petroleum Directorate.

Abu Dhabi Gets Bids for Offshore Oil in Plan to Expand Capacity
Monday, January 22, 2018 Abu Dhabi's government oil producer received bids in the fourth quarter from international energy companies seeking stakes in offshore fields.

Wintershall Continues to Invest in German Oil, Gas Production
Monday, January 22, 2018 Wintershall is continuing to invest in the production of crude oil and natural gas from assets in Germany.

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.


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Finance and Investing

Lundin Petroleum Announces $1.05B Budget for 2018
Tuesday, January 23, 2018 Lundin Petroleum's development, appraisal and exploration budget will total $1.05 billion in 2018.

Halliburton Upbeat On 2018 As Oil Recovery Spreads
Monday, January 22, 2018 Halliburton reports a bigger-than-expected adjusted quarterly profit and gave an upbeat outlook for 2018

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.


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Company Operations

International Service Companies Net North Sea Contracts
Tuesday, January 23, 2018 Petrofac and Aker Solutions secure new North Sea services deals.

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.


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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

Crumbling Refinery Profits Threaten OPEC-Led Crude Rally
Monday, January 22, 2018 The recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil's bull run.

Biggest US East Coast Oil Refinery Files for Bankruptcy
Monday, January 22, 2018 Philadelphia Energy Solutions files for Chapter 11 bankruptcy protection.

Iraq, Orion Sign Deal To Process Gas From Giant Oilfield
Monday, January 22, 2018 Iraq agrees a deal with U.S. energy company Orion to process natural gas extracted at its giant Nahr Bin Omar oilfield.

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.


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Biofuels

BP Is Said to Weigh Bid for $1.8B Italian Solar Company
Monday, January 22, 2018 BP is considering a bid for one of Italy's largest collection of solar assets, according to people familiar with the matter.

Scottish Government Launches Low Carbon Innovation Fund
Monday, January 22, 2018 The Scottish government is launching an $83 million fund to 'keep Scotland at the forefront of low carbon innovation'.

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.


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Petrochemical

South Africa's Sasol Expects H1 Earnings To Rise Up To 6 Pct
Tuesday, January 23, 2018 South African petrochemicals group Sasol expects half-year profit to lift as much as 6% on the back of higher crude oil prices.

Thai PTTGC To Invest $985 Mln In Olefins Plant
Tuesday, January 23, 2018 Thai PTT Global Chemical Pcl (PTTGC) plans to invest $985 million in a new olefins plant.

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.


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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.

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

Kemp: US Natural Gas Bears Caught By Return Of Winter
Tuesday, January 23, 2018 US natural gas prices have bounced sharply from their lows in December after a sustained spell of exceptionally cold temperatures pushed stocks near to the bottom of their five-year range.

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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