Oil & Gas News

Analysts: Putin Re-Election Will See Gazprom, Rosneft Strengthen Control

Industry Headlines

Oil Rallies to Six-Week High After Surprise US Storage Slump
Wednesday, March 21, 2018 Oil climbed to the highest level in six weeks.

Drillers Give Tepid Response To Record US Offshore Lease Sale
Wednesday, March 21, 2018 Oil and gas drillers bid on only a tiny fraction of Gulf of Mexico acreage offered in the largest lease sale in American history.

OPEC Supply Cut Compliance Hits Record, Oil Glut Going Fast
Wednesday, March 21, 2018 Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast.

Peter G. Peterson, Blackstone's Co-Founder, Dies at 91
Wednesday, March 21, 2018 Peter G. Peterson, co-founder of the private-equity firm Blackstone Group LP, has died.

Ex-Occidental Chief in $2.66B Deal for EnerVest Shale
Tuesday, March 20, 2018 Steve Chazen, who transformed Occidental Petroleum Corp. into a heavyweight of the US shale boom, is looking to replicate that success in south Texas with a $2.66 billion deal.

Up To 250 Jobs Expected to be Lost at Total in Aberdeen - Report
Tuesday, March 20, 2018 Up to 250 jobs are expected to be lost at Total in Aberdeen following the company's takeover of Maersk Oil, the BBC has reported.

Analysts: Putin Re-Election Will See Gazprom, Rosneft Strengthen Control
Tuesday, March 20, 2018 Oil and gas analysts at BMI Research expect Gazprom and Rosneft to strengthen their control of Russia's hydrocarbon resources as the state fortifies its grasp over the sector.

Oil Rises To 3-Week High On Mideast Tensions, Venezuela Concerns
Tuesday, March 20, 2018 Oil prices climbed to their highest level in 3 weeks as tension in the Middle East and the possibility of further falls in Venezuelan output helped offset the impact of growing US crude production.

Oil Dips As Wall Street Dives; Tensions Over Iran Support Crude
Monday, March 19, 2018 Oil prices slipped as Wall Street slid more than 1%.



Drillers Snap Up Federal Leases Near Utah's Wilderness Monuments
Tuesday, March 20, 2018 The US Bureau of Land Management auctions off more than 51,000 acres in southeastern Utah for oil and gas development.

Petro Matad Drills Into Mongolia - Last Frontier For Onshore Oil
Tuesday, March 20, 2018 Petro Matad plans to drill four wells this year in Mongolia, which it said is one of the last onshore frontiers for oil exploration.

Rabat Deep 1 Well Spuds
Wednesday, March 14, 2018 The Saipem 1200 drillship commences the drilling of the Rabat Deep 1 well in Morocco.

Rabul 5 Well Hits Oil Onshore Egypt
Wednesday, March 14, 2018 SDX Energy Inc. makes an onshore oil discovery at its Rabul 5 well in Egypt's West Gharib Concession.

Oil Firms Must Explore More Off Norway To Maintain Output -Petoro
Wednesday, March 14, 2018 Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro says.

US States Slow Trump Offshore Oil Drilling Expansion Plan
Monday, March 12, 2018 The Trump administration's plan to broadly expand drilling in US offshore waters is moving slowly.



Mubadala Advances $1B Malaysia Pegaga Gas Field Project
Wednesday, March 21, 2018 Mubadala Petroleum, Petronas and Royal Dutch Shell will spend more than $1 billion to develop Malaysia's Pegaga gas field.

CNOOC Starts Production from Weizhou 6-13 in South China Sea
Tuesday, March 20, 2018 CNOOC Limited starts up its Weizhou 6-13 oilfield ahead of schedule.

Spirit Energy Given Consent to Use Drilling Facility for Production Wells
Friday, March 16, 2018 Petroleum Safety Authority Norway gives Spirit Energy consent to use the Maersk Interceptor drilling facility to drill production wells on the Oda field.

Angolan Deep Offshore Field Starts Oil Production
Friday, March 16, 2018 Eni and Sonangol commence oil production from the Ochigufu project, located in Block 15/06 of Angola's deep offshore.

Ecuador Seeks $800MM Investment In Oil And Gas Bid
Wednesday, March 14, 2018 Ecuador launches a bidding round for foreign companies to develop oil and gas reserves.

Sonatrach To Invest $250 Million To Boost Output At Tinhert Gas Field
Monday, March 12, 2018 Algerian state energy firm Sonatrach will invest $250 million to boost output at the Tinhert gas field, its CEO says.


Finance and Investing

Spain's Cepsa Owner Looking At Potential IPO Or Sale - Spokeswoman
Friday, March 16, 2018 The sole owner of Spanish oil and gas company Cepsa is considering a public listing or sale of a stake in the company, a Cepsa spokeswoman says.

Greece's Energean IPO To Raise $500MM For Israeli Gas Project
Friday, March 16, 2018 Energean Oil & Gas plans to raise about $500 million to develop its Israeli offshore fields through an initial public offering (IPO) in London.

Saudi Aramco International Listing Looks Increasingly Difficult - Sources
Tuesday, March 13, 2018 Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering on an international exchange hang in the balance, sources close to the process say.

UK Officials Told That Aramco IPO Unlikely Until 2019 -FT
Monday, March 12, 2018 British officials have been informed by their Saudi counterparts that oil giant Saudi Aramco's initial public offering is likely to be delayed until 2019, the Financial Times reports.

Aberdeen Services Company Enters Restructuring Agreement
Friday, March 09, 2018 Aberdeen-headquartered energy services firm Proserv enters into a restructuring agreement with its principal lenders, which it says will 'strengthen the long term financial structure of the company'.

Saudi Aramco CEO Nasser Says IPO Work To Be Completed In 2H
Thursday, March 08, 2018 Saudi Aramco Chief Executive Officer Amin Nasser says all work required from the oil giant for its initial public offering will be completed in the second half of 2018.


Company Operations

Petrofac Could Cut Up To 90 Onshore UK Jobs
Wednesday, March 21, 2018 Petrofac reveals that it could cut up to 90 onshore jobs in the UK.

Aberdeen Engineering Company Creating New Roles to Support Decom Contract
Wednesday, March 21, 2018 Aberdeen-headquartered engineering company, PD&MS Group, announces that several new onshore and offshore roles will be created to support its new multimillion dollar decommissioning contract with Spirit Energy.

Bilfinger Looks to Recruit Following Contract Win
Wednesday, March 21, 2018 Asset lifecycle services specialist Bilfinger Salamis UK secures a 'major', multimillion dollar contract for technical manpower services on Shell U.K. Limited Southern North Sea assets.

UAE's ADNOC Awards PetroChina Stakes In Two Offshore Concessions
Wednesday, March 21, 2018 PetroChina will take 10% stakes in 2 of Abu Dhabi National Oil Company's (ADNOC) offshore concessions under a 40-year agreement.

Wood Group Sees Modest Growth In Core Profit This Year
Tuesday, March 20, 2018 Oilfield services company John Wood Group forecasts a modest growth in core profit for 2018.

Over 100 Employees Transfer to Statoil From Total After NCS Deal Completes
Tuesday, March 20, 2018 Statoil has now acquired Total's equity stakes in, and taken over the operatorships of, the Martin Linge field and the Garantiana discovery on the Norwegian continental shelf.



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.



EIA: US Crude Oil Stockpiles Fall In Week As Imports Drop
Wednesday, March 21, 2018 US crude oil stockpiles fell unexpectedly last week as imports dropped and refining rates jumped.

Iran Inches Closer To Dream Of Gasoline Independence
Wednesday, March 21, 2018 Iran has sharply reduced its gasoline imports in recent weeks after starting up a new refinery, trade sources say.

Rich Rewards Await Top Oil Refiners as Ships Made to Switch Fuel
Wednesday, March 21, 2018 The world's most sophisticated refineries are about to enjoy great times thanks to what might seem like a minor tweak in rules for the type of fuel ships consume.

Filing: Pennsylvania Says Bankrupt Refiner Owes $3.8B In Taxes
Monday, March 19, 2018 The state of Pennsylvania wants a federal judge to halt the bankruptcy of Philadelphia Energy Solutions (PES).

Iraq Mulls Building an Island to Boost Oil-Exporting Capacity
Monday, March 19, 2018 OPEC's second-biggest producer is ramping up efforts to expand capacity to pump and export oil.

Venezuela's Crude Sales To US Falls To 15-Year Low In February
Thursday, March 15, 2018 Venezuela's crude exports to the United States declined in February to a 15-year low.

Iraq's Oil Ministry Calls For Investors For Anbar Refinery
Thursday, March 15, 2018 Iraq's oil ministry calls on companies to invest in a project to build a 70,000 barrel-per-day oil refinery in the western province of Anbar.

Iraq To Increase Kirkuk Oilfields Output To Supply Refineries
Wednesday, March 14, 2018 Iraq's NOC has begun testing operations at its oilfields in Kirkuk to increase crude supply for domestic refineries.



Perdue: US Biofuel Reform Possible Without Cap On RIN Prices
Tuesday, March 20, 2018 US Agriculture Secretary Sonny Perdue hopes the Trump administration can make the nation's biofuel laws more affordable for oil refiners.

China's Independent Oil Refiners Gear Up For Ethanol Push In Cars
Tuesday, March 20, 2018 China's top independent oil refiner is buying ethanol and two others are seeking government approval to blend the biofuel into their gasoline ahead of the country's 2020 deadline, sources say.

Sources: Trump Administration Preparing List Of Possible Biofuels Tweaks
Monday, March 19, 2018 The heads of the US Environmental Protection Agency and Agriculture Department are scheduled to meet on Tuesday.

Oil and Gas Industry Addresses Climate Change via Innovation
Wednesday, March 14, 2018 In Colorado alone, emissions from oil and gas development were poised to fall by one-third for 2017.

India's Solar Financing May Have Peaked For Now at $10B in 2017
Tuesday, March 13, 2018 India's solar industry more than doubled its fund raising to $10 billion in 2017.

Desert Sun to Power Upper Egypt With $2.8 Billion Solar Park
Tuesday, March 13, 2018 Egypt has inaugurated the first solar power plant at a remote desert complex where the government plans to generate as much as 1.8 gigawatts from the sun, cutting the most populous Arab nation's reliance on dirty and expensive fossil fuels.



ExxonMobil May Add Gulf Coast Polypropylene Capacity
Tuesday, March 20, 2018 ExxonMobil eyes petchems expansion on US Gulf Coast.

Saudi Petrochemical Producers Plan to Return to Merger Table
Tuesday, March 13, 2018 Sahara Petrochemical Co. and Saudi International Petrochemical Co. plan to resume talks about a potential merger, four years after a tie-up was put on hold.

DowDuPont's Andrew Liveris Steps Down, Names CEO For New Dow
Monday, March 12, 2018 DowDuPont Inc chief Andrew Liveris will step down on April 1.

Shale Boom Lifts US Dominance in Liquids for Plastics, Cooking
Monday, March 12, 2018 The surge comes at a time when the global use of NGLs is growing.

Wood to Develop World's Largest Crude Oil to Chemicals Complex
Friday, March 09, 2018 Wood has been selected to develop the world's largest fully integrated crude oil to chemicals complex in the Kingdom of Saudi Arabia, on behalf of Saudi Aramco and SABIC.

CEO: ADNOC To Build Largest Global Refining & Chemical Site
Tuesday, March 06, 2018 ADNOC plans to build the world's largest integrated refining and chemical site in Ruwais.



Sources: Canada's Brookfield To Sell Bonds In Brazil To Help Fund Pipeline
Wednesday, March 21, 2018 Canada's Brookfield Asset Management Inc is preparing a $1.6 billion local bond sale in Brazil.

EU Lawmakers Back Draft Rules To Regulate Russia's Nord Stream 2 Pipeline
Wednesday, March 21, 2018 EU lawmakers backed draft rules to extend the bloc's internal energy market laws to offshore gas pipelines.

Colonial Pipeline to Pay Alabama $3.3 Mln for 2016 Spills -State Official
Friday, March 16, 2018 The settlement includes a $1.3 million civil penalty and $1.8 million in projects for the state.

On Bleak Day, Pipeline Operators Say Tax Policy Is No Big Deal
Friday, March 16, 2018 On the worst stock-market day for U.S. pipeline operators in two years, Wall Street analysts and pipeline insiders saw reason to smile.

US Appeals Court Approves ETP's Bayou Bridge Pipeline Construction
Friday, March 16, 2018 The disputed 162-mile (261-km) pipeline is an extension to an existing line, which transports crude from Nederland, Texas, to Lake Charles, Louisiana.

Shell Warns Against Proposed Magellan Oil Trading Arm
Thursday, March 15, 2018 The US trading arm of Shell urges regulators to stick to their ruling.

Pipeline Stocks Sink as FERC Kills Key Income-Tax Allowance
Thursday, March 15, 2018 Pipeline stocks plunged after federal regulators ruled that master-limited partnerships can no longer receive a credit for income taxes they don't pay.

West Virginia Orders ETP To Stop Some Work On Rover Natgas Pipe
Wednesday, March 14, 2018 Environmental regulators in West Virginia ordered Energy Transfer Partners LP to again halt work on its Rover natural gas pipeline.


Terminals and Storage

Fire Breaks Out At Fuel Oil Storage Tank In Singapore
Tuesday, March 20, 2018 A fire broke out at a fuel oil storage tank at Tankstore's Pulau Busing terminal in Singapore on Tuesday evening.

Oil Search Sees Gobe Plant Operational This Week After PNG Quake
Tuesday, March 20, 2018 Australia's Oil Search Ltd expects its Gobe processing plant and oil export pipeline in Papua New Guinea to be operational later this week, after a deadly earthquake hit last month.

Spokesman: Libya Seizes Tanker Suspected Of Fuel Smuggling, Arrests Crew
Thursday, March 15, 2018 Libya's naval forces seized a Togo-flagged fuel tanker and arrested its Greek crew.

European Traders Store Gasoline On Tankers As Glut Looms
Thursday, March 15, 2018 Traders are storing gasoline on tankers off Europe's coast as they struggle to contain a steady rise in supplies since the start of the year that has weighed on prices.

Repsol To Open 200 Fuel Stations In 2018 In Mexico
Tuesday, March 13, 2018 Spanish oil firm Repsol will open 200 gasoline stations in Mexico in 2018.

Billionaire Miner, Japanese Plan Australia LNG Import Plant
Monday, February 26, 2018 Billionaire miner Andrew Forrest and two of Japan's biggest power utilities plan to build a LNG import terminal in Australia.



Thailand's PTTEP Seeks To Boost Reserves, Output In SE Asia
Wednesday, March 21, 2018 PTTEP is looking closer to home for upstream oil and gas assets in a drive to boost its reserves and production as oil prices have recovered.

Qatar Selects Japan's Chiyoda Corp For Gas Field Design Contract
Monday, March 19, 2018 Qatar Petroleum has chosen Japan's Chiyoda Corp to design up to four large LNG production plants.

Traders: ExxonMobil Buys LNG To Chill Quake-Hit Papua New Guinea Project
Monday, March 19, 2018 ExxonMobil Corp has bought a liquefied natural gas cargo to keep its Papua New Guinea plant cold.

Merkel Looks to LNG to Cut Germany's Dependence on Russia
Monday, March 19, 2018 Angela Merkel's government is seeking to build a liquefied natural gas industry in Germany basically from scratch.

Exxon Mobil Partnering With Pakistan for Third LNG Terminal
Friday, March 16, 2018 Pakistan has the largest appetite for LNG among emerging markets, according to Bloomberg New Energy Finance.

Russian LNG Exporter Warns Against 'Vilifying' Country's Gas
Friday, March 16, 2018 "We've been vilified for delivering gas to the market," said Novatek's CFO.

Shell Says LNG Buyers Have Not Taken Advantage Of Buyer's Market
Thursday, March 15, 2018 Shell, the world's biggest LNG trader, says buyers of the fuel have not taken advantage of a market that favors them.