Oil & Gas News

FEATURED STORY
OPEC President: We're Not A Secretive Cartel

Refining

EIA: US Crude Stocks Fall Unexpectedly As Net Imports Hit Record Low
Thursday, February 22, 2018 US crude oil stockpiles fell unexpectedly last week as net imports dropped to a record low due to a surge in exports.

Indian State Oil Refiners See Strong Margins For 2018
Thursday, February 22, 2018 India state refiners expect their profit margins to hold their strength this year.

Aruba Government Begins Talks With US Over Aruba Refinery Pause
Thursday, February 22, 2018 The Aruba government says it has started talks with the United States.

SOCAR's Oil Refinery In Turkey To Start Up In 3Q 2018
Thursday, February 22, 2018 The first new oil refinery to be built in Turkey in 30 years will start up in Q3.

Mexico Front-Runner Sees 'No Drastic Change' in Oil Opening Plan
Wednesday, February 21, 2018 Key advisers for Mexico's presidential front-runner Andres Manuel Lopez Obrador are united in their message to the country's energy industry: don't worry.

Citgo Petroleum Slows Aruba Refinery Revamp Due To US Sanctions
Wednesday, February 21, 2018 Citgo Petroleum has slowed work on an overhaul of its 235,000-barrel-per-day Aruba refinery.


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Biofuels

Cruz Urges Biofuels Policy Revamp At Rally For Bankrupt US Refinery
Wednesday, February 21, 2018 Republican Senator urges Trump's administration to push for an overhaul of the nation's biofuels policy to save refinery jobs.

Refiner Goes Belly-Up After Big Payouts To Carlyle Group
Tuesday, February 20, 2018 Although little oil flowed, plenty of money did.

BP Sees Electric Future With Oil Demand Peaking in 2030s
Tuesday, February 20, 2018 The future is electric for BP, though it's not giving up on oil just yet.

Oil Output Cuts And Electric Car Influx Could Hit Russian Economy
Friday, February 16, 2018 Russia's oil-dependent economy could be hit in 2018 by cuts.

Shell's Pivot to Renewables Sharpens With California Deal
Wednesday, February 14, 2018 Shell, the world's second-biggest oil company, is expanding its bet on renewable energy.

America Wants to Make Its Own Massive Offshore Wind Turbines
Wednesday, February 14, 2018 With state officials eyeing $56B of wind farm projects off the American coastline, developers are worried the turbines will need to be stamped with a big 'Made in the USA.'


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Petrochemical

Thailand's PTTGC To Invest $952MM For Expansion In 2018
Wednesday, February 21, 2018 Thailand's PTT Global Chemical Pcl will invest 30 billion baht ($951.78 million) this year to expand its business.

Thai Energy Giant PTT FY Profit Up 43% At $4.3B, Beats
Tuesday, February 20, 2018 PTT FY credits profit increase to higher selling prices for oil and a strong performance at its chemical and refining businesses.

Total's Bayport Site to Add PE Unit in Venture with Borealis, Nova
Tuesday, February 20, 2018 Total-Novealis JV to own equal shares in US Gulf Coast endeavor.

ExxonMobil Hits Baytown Ethane Cracker Milestone
Wednesday, February 07, 2018 Production set to begin later this year.

Source: Brazil Braskem Lining Up $1B Credit Line With Banks
Wednesday, January 24, 2018 Braskem is in talks with banks to secure a $1 billion revolving credit facility for five years.

Sasol Completes $1 Billion Wax Plant Expansion in South Africa
Tuesday, February 06, 2018 Sasol, the world's top maker of motor fuel from coal, has increasingly diversified.


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Pipelines

Leaders Launch Start Of Afghan Section Of TAPI Gas Pipeline
Friday, February 23, 2018 Regional leaders launch construction work on the Afghan section of an $8 billion natural gas pipeline.

ETP Eyes New Crude Pipeline From Permian Basin To Nederland, Texas
Thursday, February 22, 2018 Energy Transfer Partners LP is considering constructing a new crude oil pipeline from the Permian basin in Texas to Nederland, Texas.

Tellurian Launches Open Season for Haynesville/Bossier Pipeline
Wednesday, February 21, 2018 The $1.4 billion project could begin service in mid-2023, says company.

Investors Bail on Trapped Canada Oil as Pipeline Woes Deepen
Wednesday, February 21, 2018 Canada's energy companies can't get any love, even from many Canadians.

TAP Gas Pipeline To Get 1.2B Euros In Loans From EBRD In 2018
Tuesday, February 20, 2018 The European Bank for Reconstruction and Development plans to allocate loans for the Trans-Adriatic Pipeline (TAP) this year.

Mexico's Gas Pipeline Woes Yield Binational Challenges
Tuesday, February 20, 2018 Analyst tells Rigzone 10 projects experiencing 'some sort of delays.'


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Terminals and Storage

US Oil's Costly Again as It's Stored Less and Shipped More
Tuesday, February 20, 2018 Dwindling volumes at the biggest US oil storage hub and the potential for bigger cargoes to sail overseas is giving American crude a premium sheen once again.

Transneft: Russian Oil Product Exports From Black Sea Port 'Collapse'
Wednesday, February 21, 2018 Shipments of oil products from a Russian Black Sea port, hit by a managerial conflict, have 'collapsed,' Transneft says.

Sources: Egypt To Import 3 LNG Cargoes From France's Engie For 2Q 2018
Monday, February 19, 2018 EGAS has arranged for the delivery of three LNG cargoes.

US Oil Exports Go Up a Gear as Supertanker Sets Sail for China
Monday, February 19, 2018 The flood of US oil exports stepped up a gear after the first fully laden supertanker sailed from an American port.

Big Oil CEOs Appeal to Norway to Back Carbon Capture and Storage
Thursday, February 15, 2018 Three of the world's biggest oil companies called on Norway to help maintain funding for carbon capture and storage technology.

A Year Into OPEC's Production Cuts, Asia's Oil Markets Have Tightened
Thursday, February 15, 2018 Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably.


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LNG/LPG

LNG Rollercoaster Seen Getting Wilder Until China Builds Storage
Friday, February 23, 2018 The rollercoaster that drags liquefied natural gas prices higher as demand jumps in the northern hemisphere winter is going into overdrive.

Australia's Santos Profit Soars, Flags China LNG Sales Push
Wednesday, February 21, 2018 Santos reports a more-than-fivefold rise in annual underlying profit.

Siberian Chill Lifts Gas Enough to Revive LNG Trade in Europe
Wednesday, February 21, 2018 Europe's liquefied natural gas dry spell may end thanks to a surprising cold snap.

Five-year Ichthys Contract Goes to Wood
Tuesday, February 20, 2018 Wood wins Ichthys engineering services contract.

Egypt's Potential Gas Surplus Could Feed Global LNG Glut
Tuesday, February 20, 2018 Egypt may turn its surplus into liquefied natural gas and export it to a market currently glutted with LNG.

Croatia's Krk LNG Project Faces Opposition As Investment Decision Looms
Monday, February 19, 2018 Croatia's plans for a floating LNG terminal on the Adriatic island of Krk require a final investment decision by June if it is to hit a 2020 start target.

Argentina Eyes Changes To Bolivia Gas Contract As Vaca Muerta Grows
Monday, February 19, 2018 Argentina wants to change the terms of a key gas import contract with neighboring Bolivia.


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Industry Headlines

Norway's Solstad Farstad Sees Oil Service Vessels' Market Improving
Friday, February 23, 2018 The market for offshore service vessels has bottomed out and is expected to rise from now onwards.

Saudi Oil Minister Says Oil Market Is Rebalancing
Friday, February 23, 2018 Saudi Arabia's Oil Minister Khalid al-Falih says oil markets are rebalancing.

Schlumberger, Subsea 7 in Negotiations to Form Joint Venture
Friday, February 23, 2018 Schlumberger and Subsea 7 S.A. enter into exclusive negotiations to form a joint venture.

What Women Really Want on the Job? Ask Big Oil's Only Female CEO
Friday, February 23, 2018 Flexible working hours and maternity leave are all well and good, but what women really want is...

International Markets to Return to Growth in 2018
Thursday, February 22, 2018 International markets will return to growth in 2018, although at a more moderate pace than North America.

BLOG: How Heart Monitors Can Help India Level Its E&P Playing Field
Thursday, February 22, 2018 Recent report charts path for upstream investment, technology in India.

Oil Prices Climb After Unexpected Drawdown In US Crude Stocks
Thursday, February 22, 2018 Oil prices rose to two-week highs on Thursday.


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Exploration

SK Innovation Makes Oil Discovery in South China Sea
Friday, February 23, 2018 Korean energy chemical company SK Innovation makes an oil discovery in PRMB block 17/03 in the South China Sea.

Permian's Mammoth Cubes Herald Supersized Future for Shale
Thursday, February 22, 2018 In the scrublands of West Texas there's an oil-drilling operation like few that have come before.

KSS-2 Well in Morocco Yields No Commercial Discoveries
Thursday, February 22, 2018 North Africa focused oil and gas company SDX Energy Inc says the KSS-2 well on the Sebou permit in Morocco has not made any commercial discoveries.

Ineos Shale Granted Access to High Court in Land Access Rights Issue
Thursday, February 22, 2018 Ineos Shale granted permission to pursue its application to undertake a geophysical survey in Clumber Park in the High Court.

Brazil Regulator Approves Bidders For Oil Auction In March
Wednesday, February 21, 2018 ANP approves the participation of 14 companies in an oil round to be held on March 29.

Cyprus Says To Pursue Gas Exploration Amid Standoff With Turkey
Wednesday, February 21, 2018 Cyprus says it would press ahead with oil and gas exploration, signaling resolve in a standoff with Turkey.


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Production

Chesapeake Says To Raise 2018 Output On Lower Spending, Shares Jump
Thursday, February 22, 2018 Chesapeake says it expects production to keep rising this year, despite a 12% cut in spending.

Thailand Pushes Erawan And Bongkot Gas Field Auctions To April
Thursday, February 22, 2018 Thailand expects auction terms for its petroleum gas fields to be ready in April, a month later than previously indicated.

ONGC Short-Lists Three Oil Service Majors To Lift Output From Two Fields
Wednesday, February 21, 2018 India's Oil and Natural Gas Corp is set to hire international oil service giants for the first time to boost output from domestic oil fields.

Energen's Oil Production Forecast Misses Estimates Amid Proxy Fight
Tuesday, February 20, 2018 Energen reports a better-than-expected quarterly profit, but expectations for oil production fell short.

UK's EnQuest Expects Higher Production This Year
Monday, February 19, 2018 EnQuest Plc expects higher production in 2018, helped by its flagship Kraken oilfield and its acquisition of a 25% stake in BP's Magnus oilfield.

Africa's Top Oil Producer Poised to Give OPEC an Output Headache
Thursday, February 15, 2018 Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies are trying to restrict output.


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Finance and Investing

Aberdeen-Headquartered Xodus Group Welcomes Subsea 7 as Shareholder
Wednesday, February 21, 2018 Aberdeen-headquartered engineering and advisory consultancy, Xodus Group, welcomes Subsea 7 as a new shareholder.

For Timing Of Aramco IPO, Watch Forward Oil Price Curve
Monday, February 19, 2018 It's the burning question in the oil industry: when will Saudi Arabia pull the trigger on the Aramco stock market listing?

CFO: Sand Delays To Cut Halliburton's 1Q EPS By 10 Cents
Thursday, February 15, 2018 Halliburton's 1Q earnings would be reduced by 10 cents per share due to delays in sand deliveries, a senior company executive says.

Russia Says It May Invest in Aramco IPO Via Fund With China
Wednesday, February 14, 2018 Russian banks and a joint Russia-China investment fund are eager to participate in Saudi Aramco's initial public offering.

Dana Gas Creditors Reject New Proposal To Restructure $700MM Sukuk
Tuesday, February 13, 2018 Creditors of UAE-based energy producer Dana Gas reject a new proposal by the company to restructure its $700 million of Islamic bonds and are waiting for improved terms.

Court Filing: Seadrill Nears Comprehensive Restructuring Deal
Monday, February 12, 2018 Rig firm Seadrill is working towards a comprehensive deal with all its creditors that could be concluded this week.


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Company Operations

Subsea UK Launches New Initiative to Encourage Careers at Sea
Friday, February 23, 2018 Industry body Subsea UK launches a new initiative aimed at encouraging school pupils to consider a career at sea.

Kvaerner CEO to Become CEO of Aker Energy
Friday, February 23, 2018 Jan Arve Haugan will start his new role as the CEO of newly established oil company Aker Energy on March 1, after resigning as president and CEO of Kvaerner.

BHP, ExxonMobil Drop Sale Of Australian Oil And Gas Assets
Friday, February 23, 2018 BHP Billiton Ltd and ExxonMobil Corp's Esso Australia drop a sale process started 20 months ago for some of Australia's oldest and largest oilfields.

Digitization at Work: GE and Noble Launch Digital Rig
Thursday, February 22, 2018 GE and Noble launch the world's first digital drilling vessel, which will detect potential failures 2 months before they occur and reduce OPEX by as much as 20%.

Fugro Sees Revenue Stabilising In 2018 As Oil And Gas Market Steadies
Thursday, February 22, 2018 Dutch deep-sea energy prospector Fugro expects revenue to stabilise in 2018 as a result of the steadying oil and gas market.

Spain's Repsol Agrees To Sell Gas Natural Stake To CVC
Thursday, February 22, 2018 Repsol agrees to sell its 20% stake in Gas Natural to CVC Capital Partners for $4.69 billion, a move that could allow the oil major to restart investment after years of debt reduction.


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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.


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