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OPEC Output Boost Still Rejected by Iran Before Crucial Talks

Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia May 25, 2018. REUTERS/Sergei Karpukhin

June 21, 2018, by Golnar Motevalli, Wael Mahdi and Grant Smith (Bloomberg) Iran continued to reject any increase in oil production from OPEC and its allies, casting doubts on Saudi Arabia and Russia’s efforts to get a deal that would aid consumers by alleviating high prices. At talks in Vienna on Thursday, ministers from some … Read moreOPEC Output Boost Still Rejected by Iran Before Crucial Talks

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U.S. Is Out of Sync With the World on Climate, Canada Says

Jun 21, 2018, by Ewa Krukowska and Jonathan Stearns (Bloomberg) Canada has an environmental message for Donald Trump: you can’t stop the global campaign against climate change and you will hurt the U.S. by abandoning the battle. Canadian Environment and Climate Change Minister Catherine McKenna said countries around the world are forging ahead with measures … Read moreU.S. Is Out of Sync With the World on Climate, Canada Says

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Solar Matchmaker Pairing Lenders With Commercial Developers

Solar Panels

June 21, 2018, by Brian Eckhouse (Bloomberg) Open Energy Group Inc. is a solar matchmaker. The New York-based company is introducing an online exchange to pair commercial solar developers with lenders looking to finance projects. It’s already matched $35 million of deals ahead of its formal opening Thursday, and has a goal of $250 million … Read moreSolar Matchmaker Pairing Lenders With Commercial Developers

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Dow, University of Michigan, Delta College Collaborate to Create New Innovation and Education Hub in the Great Lakes Bay Region

MIDLAND, Mich.–(BUSINESS WIRE)–The Dow Chemical Company (Dow), the University of Michigan (U-M) and Delta College (Delta) are collaborating to develop an interdisciplinary innovation and education hub to inspire the workforce of tomorrow and create sustainable pathways that will have a positive impact on the environment and society. “We are bringing together U-M’s recognized leadership in … Read moreDow, University of Michigan, Delta College Collaborate to Create New Innovation and Education Hub in the Great Lakes Bay Region

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First Modules Arrive for the KIPIC Al-Zour Project

IRVING, Texas & KUWAIT CITY–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that the first modules for the Kuwait Integrated Petroleum Industries Company (KIPIC) Al-Zour project have arrived in Kuwait. Fluor is working with its joint venture partners to deliver two engineering, procurement, fabrication and construction packages for key process support units, utilities and infrastructure for … Read moreFirst Modules Arrive for the KIPIC Al-Zour Project

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Illinois Energy Law Lures Northeast Commercial-Industrial Solar Developer

June 21, 2018, by Kari Lydersen (Renewable Energy World) A major developer of large-scale solar in the Northeast is launching operations in Illinois, expecting the state’s new energy law to jumpstart the industry in a way similar to what happened in the company’s home state of Massachusetts. Solect has installed more than 80 MW of … Read moreIllinois Energy Law Lures Northeast Commercial-Industrial Solar Developer

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The Public Health Benefits of Adding Offshore Wind to the Grid

June 21, 2018, by Jonathan Buonocore New plans to build two commercial offshore wind farms near the Massachusetts and Rhode Island coasts have sparked a lot of discussion about the vast potential of this previously untapped source of electricity. But as an environmental health and climate researcher, I’m intrigued by how this gust of offshore … Read moreThe Public Health Benefits of Adding Offshore Wind to the Grid

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Focus on returns now will hurt long-term U.S. shale oil investment: Hess

June 21, 2018, by Ernest Scheyder VIENNA (Reuters) – Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale executive said on Thursday. Shareholders have been pushing for more dividends and buybacks from U.S. shale … Read moreFocus on returns now will hurt long-term U.S. shale oil investment: Hess

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U.S. shale executive pushes OPEC to gradually boost output

June 20, 2018, by Ernest Scheyder VIENNA (Reuters) – OPEC should boost daily output by roughly 1 million barrels over time to keep global crude supply and demand in balance as production dips elsewhere, a leading U.S. shale executive said on Wednesday. U.S. shale producers and the Organization of the Petroleum Exporting Countries have started … Read moreU.S. shale executive pushes OPEC to gradually boost output

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Venezuela says U.S. sanctions hurt oil market stability

June 21, 2018 VIENNA (Reuters) – U.S. sanctions on Venezuela are an attack against the stability of the global oil market, Venezuelan Oil Minister Manuel Quevedo said on Thursday. Venezuela, a member of the Organization of the Petroleum Exporting Countries, and state-run oil firm PDVSA ] face an export crisis due to declining crude output, … Read moreVenezuela says U.S. sanctions hurt oil market stability

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Small U.S. oil producers face output squeeze as pipelines fill

June 20, 2018, by Collin Eaton and Liz Hampton (Reuters) – As pipelines out of the largest U.S. oil field reach capacity in the coming months, further depressing West Texas crude prices, smaller producers will have to slow or shut-in production, according to oil executives. Soaring production in U.S. shale fields has driven output to … Read moreSmall U.S. oil producers face output squeeze as pipelines fill

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OPEC edges closer to raising oil output, Iran’s agreement is key

OPEC Flag

June 21, 2018, by Ahmad Ghaddar, Vladimir Sodalkin and Ernest Scheyder VIENNA (Reuters) – OPEC edged closer on Thursday toward raising oil output, with Iran softening its opposition to an increase and Saudi Arabia warning of supply shortages and price rallies if production remained stable. A production rise of about 1 million barrels per day … Read moreOPEC edges closer to raising oil output, Iran’s agreement is key

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China to reduce U.S. oil imports post-September amid trade spat

June 22, 2018, by Florence Tan and Chen Aizhu SINGAPORE/BEIJING (Reuters) – Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world’s two largest economies, multiple industry sources said. Beijing has put U.S. … Read moreChina to reduce U.S. oil imports post-September amid trade spat

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Saudis Take Oil Consumers’ Side as OPEC Nears Pivotal Talks

Jun 21, 2018  by Elena Mazneva, Francois de Beaupuy and Golnar Motevalli (Bloomberg) With fewer than 24 hours to go before a pivotal meeting, Saudi Arabia urged OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran showed signs of wavering. “The most important thing is the consumers,” Saudi Energy Minister Khalid … Read moreSaudis Take Oil Consumers’ Side as OPEC Nears Pivotal Talks

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Unfracked Oil Wells Growing as Permian Pipeline Scarcity Worsens

June 21, 2018 by Ryan Collins (Bloomberg)  Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The vast pipe networks that haul crude from the Permian Basin are almost completely full thanks to a production … Read moreUnfracked Oil Wells Growing as Permian Pipeline Scarcity Worsens

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Five Things to Know in World Business Today

June 21, 2018 by Lorcan Roche Kelly (Bloomberg)  U.S. trade partners fight back, it’s decision day at the Bank of England, and OPEC inches towards an output deal. Here are some of the things people in markets are talking about today. Trade tensions India became the latest country to hit back at U.S. tariffs when it announced … Read moreFive Things to Know in World Business Today

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Your 12 Month Digital Marketing Plan on EnergyNow – Generate Exposure & Leads

Welcome to Your 12 Month Digital Marketing Plan on EnergyNow EnergyNow uses all of its Marketing Platforms to Promote Your Company (Website, Daily Email, EnergyNow SHOWCASE, Social Media etc.) Marketing on EnergyNow is Designed to: Focus on your company’s target market Consistently get your company marketing exposure for a Whole Year on EnergyNow Effectively market your products and services or … Read moreYour 12 Month Digital Marketing Plan on EnergyNow – Generate Exposure & Leads

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Your 12 Month Targeted Digital Marketing Plan on EnergyNow – Generate Exposure & Leads: Get Your Marketing Kit HERE

Your 12 Month Digital Marketing Plan on EnergyNow EnergyNow uses all of its Marketing Platforms to Promote Your Company (Website, Daily Email, EnergyNow SHOWCASE, Social Media etc.) Marketing on EnergyNow is Designed To: Focus on your company’s target market Consistently get your company marketing exposure for a Whole Year on EnergyNow Effectively market your products and services or publish your … Read moreYour 12 Month Targeted Digital Marketing Plan on EnergyNow – Generate Exposure & Leads: Get Your Marketing Kit HERE

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Global Wind Energy Insight: Offshore Going Global

June 20, 2018, by Steve Sawyer (Renewable Energy World) We have all followed with great interest the extraordinary breakthrough in European offshore wind over the past few years. After struggling for a number of years with increasing prices as projects moved further offshore and into deeper waters, the first real breakthrough came in early 2015 … Read moreGlobal Wind Energy Insight: Offshore Going Global

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Saudi Arabia, Iran face off ahead of tense OPEC talks

June 20, 2018, by AFP (Arabian Business) Saudi Arabia insists it will do ‘whatever is needed’ to avoid oil supply shortages, setting the stage for a showdown with archfoe Iran. Saudi Arabia insisted Wednesday it would do “whatever is needed” to avoid oil supply shortages, setting the stage for a showdown with archfoe Iran ahead … Read moreSaudi Arabia, Iran face off ahead of tense OPEC talks

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EU agrees final energy saving, renewables targets

June 20, 2018 BRUSSELS (Reuters) – The European Union on Wednesday finalised new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030. National governments must now draft their own plans for implementing the bloc’s overall climate … Read moreEU agrees final energy saving, renewables targets

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India urges OPEC to boost oil exports, wants sustainable prices

June 20, 2018 VIENNA (Reuters) – India, the world’s third-biggest oil consumer and importer, on Wednesday urged OPEC nations to fill a supply gap and ensure sustainable oil prices as geopolitics affect the output of some producers. The world faces likely lower oil exports from Iran, OPEC’s third-biggest producer, after U.S. President Donald Trump pulled … Read moreIndia urges OPEC to boost oil exports, wants sustainable prices

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EQT Midstream Partners Announces Offering of Senior Notes

PITTSBURGH–(BUSINESS WIRE)–EQT Midstream Partners, LP (NYSE: EQM) (Partnership) today announced its intent to offer, subject to market conditions, three new series of senior unsecured notes (collectively, Notes), in an underwritten public offering, each in an aggregate principal amount to be determined at pricing. Each series of the Notes will be issued pursuant to a new … Read moreEQT Midstream Partners Announces Offering of Senior Notes

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IHS Markit: U.S. Natural Gas Production Could Grow Another 60 Percent over Next 20 Years

WASHINGTON–(BUSINESS WIRE)–A decade since the start of a shale gas revolution that unlocked new supplies and resulted in a “wholesale turnaround” in U.S. production, the overall size of recoverable gas reserves continues to increase and the pace of production growth is only accelerating, a new report by business information provider IHS Markit (Nasdaq: INFO) says. … Read moreIHS Markit: U.S. Natural Gas Production Could Grow Another 60 Percent over Next 20 Years

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Baker Hughes, a GE company Announces Date for Second Quarter 2018 Earnings Release and Webcast

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE: BHGE) will hold a webcast on Friday, July 20, 2018 to discuss the results for the second quarter ending June 30, 2018. The webcast is scheduled to begin at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). A press release announcing the results will be issued … Read moreBaker Hughes, a GE company Announces Date for Second Quarter 2018 Earnings Release and Webcast

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Northern Oil and Gas, Inc. Announces Additional $22.8 Million Stock for Notes Exchange

MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into two additional independent, separately negotiated exchange agreements with institutional holders (the “Investors”) of its 8% senior unsecured notes due 2020 (the “Notes”). Together the new agreements represent a debt reduction of $22,807,000 par value of Notes. Combined with the … Read moreNorthern Oil and Gas, Inc. Announces Additional $22.8 Million Stock for Notes Exchange

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Oil traders ready for musical chairs as China tariffs loom

June 20, 2018, by Devika Krishna Kumar and Ayenat Mersie NEW YORK (Reuters) – Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude. China, which has bought an average 330,000 barrels per day (bpd) of U.S. crude oil … Read moreOil traders ready for musical chairs as China tariffs loom

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Battery Startup Gets Funding to Develop Cobalt-Free Materials

June 20, 2018, by Brian Eckhouse (Bloomberg) Conamix, an Ithaca, New York-based battery-technology startup, raised $2 million from investors including an Exelon Corp.-backed company focused on innovations in energy storage. The Series A funding is part of an $8 million commitment from Volta Energy Technologies and another backer, according to Conamix Chief Executive Officer Charles … Read moreBattery Startup Gets Funding to Develop Cobalt-Free Materials

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Russia Chafes at OPEC Output Limits: How Much Can It Pump?

June 20, 2018, by Jack Farchy and Dina Khrennikova (Bloomberg) The prospect of a deal between OPEC and its allies to increase output is forcing oil traders to grapple with an unfamiliar concept: Russian spare production capacity. Thanks to its unprecedented cooperation with OPEC to cut production, Russia has deliberately idled oil wells for the … Read moreRussia Chafes at OPEC Output Limits: How Much Can It Pump?

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U.S. shale producers warn Chinese tariffs would hit energy exports

June 19, 2018, by Ernest Scheyder and Collin Eaton HOUSTON (Reuters) – China’s proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry’s largest customer, adding new pressure on U.S. crude prices, energy executives and analysts said in interviews this week. China … Read moreU.S. shale producers warn Chinese tariffs would hit energy exports

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Shale Giant Says Permian Oil Faces Shut Ins on Pipe Shortage

June 20, 2018, by Javier Blas (Bloomberg) The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. The worsening bottleneck in the Permian region that straddles west Texas and New Mexico … Read moreShale Giant Says Permian Oil Faces Shut Ins on Pipe Shortage

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Shell sells $1.3 billion of oil and gas assets in Norway, Malaysia

June 20, 2018, by Ron Bousso and Nerijus Adomaitis LONDON/ OSLO (Reuters) – Royal Dutch Shell (RDSa.L) announced the sale on Wednesday of oil and gas assets in Norway and Malaysia for over $1.3 billion, bringing it closer to a target of $30 billion in disposals by year-end. The Anglo-Dutch company agreed to sell to … Read moreShell sells $1.3 billion of oil and gas assets in Norway, Malaysia

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Iran Rejects Compromise as OPEC Heads for Battle in Vienna

June 20, 2018, by Grant Smith, Golnar Motevalli and Nayla Razzouk (Bloomberg) Iran put itself on a collision course with Saudi Arabia at this week’s OPEC meeting, rejecting a potential compromise that would allow a small oil-production increase to appease energy consumers. “I don’t believe in this meeting we can reach an agreement,” Bijan Namdar … Read moreIran Rejects Compromise as OPEC Heads for Battle in Vienna

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OPEC Math Reveals Gap Between Headlines and Real Barrels

Red Oil Barrels

June 19, 2018, by Javier Blas and Jack Farchy (Bloomberg) When OPEC meets on Friday in Vienna to discuss a possible output hike in the second half of the year, there’s likely to be a significant gap between the headline numbers under discussion and the amount of oil that can actually be added to the … Read moreOPEC Math Reveals Gap Between Headlines and Real Barrels

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Exelon, First Solar Bankroll Campaign to Push a Carbon Tax

US Coal Plant

June 19, 2018, by Jennifer A. Dlouhy (Bloomberg) Major energy companies, including the largest U.S. nuclear power generator, are putting millions of dollars into a new political campaign to push for a tax on carbon dioxide emissions — a measure President Donald Trump has said he opposes. Exelon Corp., is giving $1 million toward the … Read moreExelon, First Solar Bankroll Campaign to Push a Carbon Tax

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Five Things to Know in World Business Today

June 20, 2018, by Lorcan Roche Kelly (Bloomberg) Growth warnings President Donald Trump’s threat to impose 10 percent tariffs on $200 billion of Chinese imports could curtail growth in the Asian nation by as much as half a percentage point, if implemented, according to analysts. Bloomberg Economics’ Fielding Chen and Tom Orlik warn China’s  regional neighbors may be even more exposed to a … Read moreFive Things to Know in World Business Today

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OPEC Races to Salvage Oil Deal After Iran Clashes With Saudis

June 20, 2018, by Grant Smith, Nayla Razzouk and Salma El Wardany (Bloomberg) OPEC officials meeting in Vienna raced to salvage an oil-production deal on Wednesday after Iran said it was likely to reject any agreement that raised output from the group. With two days before OPEC ministers formally meet in Vienna to decide on … Read moreOPEC Races to Salvage Oil Deal After Iran Clashes With Saudis

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Double-Sided Solar Panels Are Taking Off in China

June 19, 2018, by Christopher Martin (Bloomberg) Here’s one way to get more power from solar panels: use both sides of the cells. But don’t expect that to double the output. China is expected to jump-start the market for panels that can absorb light on both sides with plans to install 2.7 gigawatts this year, … Read moreDouble-Sided Solar Panels Are Taking Off in China

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Bakken Presents OPEC With a Second Shale Dilemma: Liam Denning

June 19, 2018, by Liam Denning (Bloomberg Opinion) Harold Hamm, CEO of Continental Resources Inc., has reportedly pulled out of giving a speech at OPEC’s get-together this week. Hamm has an interesting relationship with OPEC; dismissive of it one moment and calling on it to boost oil prices the next. Plus, President Donald Trump, for whom … Read moreBakken Presents OPEC With a Second Shale Dilemma: Liam Denning

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Coal Is Being Squeezed Out of Power Industry by Cheap Renewables

June 19, 2018, by Reed Landberg and Anna Hirtenstein (Bloomberg) Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5 … Read moreCoal Is Being Squeezed Out of Power Industry by Cheap Renewables

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Halcón Resources Announces Plans to Reduce its Operated Rig Activity Level and Provides an Update on Other Activities

Denver, Colorado, June 19, 2018 (GLOBE NEWSWIRE) — Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”) today announced that it will reduce its operated rig count in July 2018 from four to three.  The Company’s decision to reduce its rig count was primarily driven by lower near-term realized oil prices in the Midland market. Halcón … Read moreHalcón Resources Announces Plans to Reduce its Operated Rig Activity Level and Provides an Update on Other Activities

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Gulfport Energy Corporation Provides Operational Update

OKLAHOMA CITY, June 19, 2018 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the “Company”) today provided an operational update. Key information includes the following: Lilly 3-15X10H produced at an average 60-day production rate of 15.7 MMcfe per day, or 2,302 Mcfe per 1,000 foot of lateral. Lilly 4-15X10H produced at an average 60-day … Read moreGulfport Energy Corporation Provides Operational Update

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Cheniere Energy, Inc. and Cheniere Energy Partners LP Holdings, LLC Announce Definitive Merger Agreement

HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) and Cheniere Energy Partners LP Holdings, LLC (“Cheniere Partners Holdings”) (NYSE American: CQH) announced today that they have reached a definitive agreement under which Cheniere will acquire all of the publicly-held shares of Cheniere Partners Holdings not already owned by Cheniere in a stock for share transaction … Read moreCheniere Energy, Inc. and Cheniere Energy Partners LP Holdings, LLC Announce Definitive Merger Agreement

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Clean Harbors Commences Cash Tender Offer and Consent Solicitation for Any and All of Its Outstanding 5.25% Senior Notes Due 2020

NORWELL, Mass.–(BUSINESS WIRE)–Clean Harbors, Inc. (NYSE: CLH) (“Clean Harbors,” the “Company” or “we”) has commenced an offer to purchase for cash and related consent solicitation any and all of the Company’s outstanding 5.25% Senior Notes due 2020 (the “Notes”) upon terms and subject to the conditions set forth in an Offer to Purchase and Consent … Read moreClean Harbors Commences Cash Tender Offer and Consent Solicitation for Any and All of Its Outstanding 5.25% Senior Notes Due 2020

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NOV Introduces GoConnect for Intervention and Stimulation Equipment Condition Monitoring and Predictive Maintenance Services

HOUSTON–(BUSINESS WIRE)–National Oilwell Varco, Inc. (NYSE: NOV) today announced the commercial launch of GoConnect™ condition monitoring services for intervention and stimulation equipment, which provides real-time process monitoring, predictive analytics, and condition-based maintenance capabilities for NOV’s pressure pumping, coiled tubing, nitrogen, and wireline equipment. The GoConnect system uses machine learning to provide data-driven insights into the … Read moreNOV Introduces GoConnect for Intervention and Stimulation Equipment Condition Monitoring and Predictive Maintenance Services

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Russia Repeats Oil-Hike Proposal as Iran Digs In: OPEC Update

June 19, 2018, by Grant Smith, Salma El Wardany and Laura Hurst (Bloomberg) Oil ministers from OPEC and its allies are starting to arrive in Vienna for what promises to be one of the cartel’s most contentious meetings in years. (All timestamps CET.) Russia Still Favors Big Hike Despite Prevailing View (1:38pm) Russia’s energy minister … Read moreRussia Repeats Oil-Hike Proposal as Iran Digs In: OPEC Update

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OPEC Faces a Bigger Problem in Washington Than Trump Tweets

June 19, 2018, by Javier Blas (Bloomberg) American politicians are at it again: punching OPEC. The cartel has often been a bogeyman for U.S. politicians since the first oil crisis in 1973. Now OPEC is facing a renewed political assault in Washington, directly from President Trump’s Twitter account, and quietly, but potentially more dangerously, from … Read moreOPEC Faces a Bigger Problem in Washington Than Trump Tweets

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Five Things to Know in World Business Today

June 19, 2018, by Lorcan Roche Kelly (Bloomberg) Escalation China is vowing to retaliate ” forcefully” against President Donald Trump’s threatened tariffs on another $200 billion of its goods. Trump ordered the identification of $200 billion in Chinese imports for an additional 10 percent tariff, with another $200 billion after that if Beijing retaliates. Should cooler heads not … Read moreFive Things to Know in World Business Today

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U.S. federal oil output hits record in 2017, in boost for Trump energy agenda

June 18, 2018 (Reuters) – Oil production from U.S. federal lands and waters rose 7 percent last year to the highest in at least a decade, while natural gas output slipped, according to soon-to-be-published U.S. data – a partial win for the Trump administration as it tries to fire up energy production on public land. … Read moreU.S. federal oil output hits record in 2017, in boost for Trump energy agenda

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U.S. oil pipeline companies, producers seek relief from steel tariffs

June 19, 2018, by Liz Hampton HOUSTON, June 19 (Reuters) – Major U.S. energy companies including Plains All American Pipeline, Hess Corp and Kinder Morgan Inc are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico. There have been nearly 21,000 requests … Read moreU.S. oil pipeline companies, producers seek relief from steel tariffs

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OPEC sees strong oil market, possible need for more output

Pump Jack

June 19, 2018, by Alex Lawler and Rania El Gamal VIENNA (Reuters) – Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group. The Organization of the Petroleum Exporting Countries meets on Friday to … Read moreOPEC sees strong oil market, possible need for more output

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Electric Cars Are Going to Suck Up 9% of World’s Power Demand

June 19, 2018, by Brian Eckhouse (Bloomberg) With batteries getting cheaper and governments promoting their use, electric vehicles are going to be sucking up a whole lot more of the world’s power in coming years. How much? About 9 percent of total global electricity demand by 2050 will come from vehicles, according to a report … Read moreElectric Cars Are Going to Suck Up 9% of World’s Power Demand

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AT&T ‘Goes Big’ on Wind Power in Texas

Wind Turbine

June 18, 2018, by Renewable Energy World Editors AT&T last week said it is adding to its wind power program with the purchase of 300 MW from two new wind farms in Wilbarger and Hardeman counties in Texas. The agreement builds on the company’s agreement with subsidiaries of renewable energy developer NextEra Energy Resources to … Read moreAT&T ‘Goes Big’ on Wind Power in Texas

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U.S. Drilling Productivity Report – June – 2018

EIA’s Drilling Productivity Report (DPR) for June has now been released.  The DPR takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place.  It uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and … Read moreU.S. Drilling Productivity Report – June – 2018

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Trump’s China Tariffs May Deal Solar a Second Tariff Blow

June 18, 2018, by Bloomberg News Editors (Renewable Energy Now) President Donald Trump’s latest batch of proposed tariffs includes a familiar target — solar. Buried as an obscure-sounding item in a 10-page Trump administration list of Chinese products that are set to be taxed at an additional 25 percent are some solar equipment that, if ultimately included, could … Read moreTrump’s China Tariffs May Deal Solar a Second Tariff Blow

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Hedge funds continue gently selling oil while watching OPEC and tariffs: Kemp

June 18, 2018, by John Kemp LONDON (Reuters) – Investors continued to reduce their overall bullish position in petroleum, but profit-taking concentrated on fuels while signs of stabilization emerged in crude. Hedge funds and other money managers cut their combined net long position in the six most important petroleum futures and options contracts by 18 … Read moreHedge funds continue gently selling oil while watching OPEC and tariffs: Kemp

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UAE energy minister says oil market moving ever closer to becoming rebalanced

Mazrouei_Energy_Minister

June 18, 2018 Dubai (Reuters) – United Arab Emirates’ Energy Minister Suhail Al- Mazrouei said on Monday that the oil market is moving closer to rebalancing, according to a statement sent by his ministry. Mazrouei, who holds the OPEC presidency in 2018, also said he acknowledged concerns expressed by some countries regarding potential shortages in … Read moreUAE energy minister says oil market moving ever closer to becoming rebalanced

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OPEC Aims for Modest Output Hike to Overcome Iran’s Dissent

June 18, 2018, by Wael Mahdi, Javier Blas and Nayla Razzouk (Bloomberg) OPEC is discussing a relatively modest production increase before its meeting in Vienna this week, an attempt to bridge the gap between Russia’s push for a big rise and Iran’s insistence that no change is needed. While a compromise may be necessary to … Read moreOPEC Aims for Modest Output Hike to Overcome Iran’s Dissent

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Supermajors Need to Invest Nearly $30 Billion in Permian Basin through 2020 to Meet Volume Targets, Further Exacerbating Service Shortages, IHS Markit Says

HOUSTON–(BUSINESS WIRE)–A new energy report from business information provider IHS Markit (Nasdaq: INFO) says that the three supermajors active in the Permian Basin — Exxon Mobil (XOM), Royal Dutch Shell (RDS) and Chevron (CVX) — will need to invest nearly $30 billion in the oil and gas play through 2020 to achieve growth targets. These … Read moreSupermajors Need to Invest Nearly $30 Billion in Permian Basin through 2020 to Meet Volume Targets, Further Exacerbating Service Shortages, IHS Markit Says

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Baker Hughes, a GE company Wins Large Scope in Equinor’s Drilling and Well Services Contract

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE: BHGE) announced today that the company was awarded an integrated well services contract to support a large proportion of Equinor’s drilling and well construction activities in the Norwegian sector of the North Sea for an initial period of four years with options to extend by up … Read moreBaker Hughes, a GE company Wins Large Scope in Equinor’s Drilling and Well Services Contract

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World Energy Chiefs See Natural Gas Expansion Aiding Green Push

Natural Gas

June 17, 2018, by Jonathan Gilbert and Jennifer A. Dlouhy (Bloomberg)  World energy ministers representing about two thirds of the global population tussled over how the world can achieve a cleaner energy future. The compromise answer: Natural gas, at least for now. A consensus statement from G20 energy ministers meeting in Argentina cited the potential … Read moreWorld Energy Chiefs See Natural Gas Expansion Aiding Green Push

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Audi to Name Interim CEO After Stadler Arrested: FAZ

Audi CEO Rupert Stadler

June 18, 2018 FRANKFURT (Reuters) – Volkswagen’s (VOWG_p.DE) premium brand Audi (NSUG.DE) will appoint an interim chief executive after current boss Rupert Stadler was arrested earlier on Monday, Germany’s Frankfurter Allgemeine Zeitung reported, without citing sources. The appointment will be made at a supervisory board meeting convened at short notice on Monday, the paper said. … Read moreAudi to Name Interim CEO After Stadler Arrested: FAZ

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OPEC Is Said to Debate Output Hike of 300,000 to 600,000 B/D

June 18, 2018, by Javier Blas, Wael Mahdi and Nayla Razzouk (Bloomberg) OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months, according to people briefed on the talks. While Iran said on Sunday it’s opposed to any … Read moreOPEC Is Said to Debate Output Hike of 300,000 to 600,000 B/D

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Coal Plants Keep Shutting Despite Trump’s Order to Rescue Them

June 18, 2018, by Ari Natter (Bloomberg) President Donald Trump has ordered a rescue of the nation’s struggling coal and nuclear power industries, but that doesn’t mean utilities are reconsidering the shutdown of unprofitable plants. Many power generators contacted said Trump’s June 1 announcement hasn’t altered their plans to retire old units even as the … Read moreCoal Plants Keep Shutting Despite Trump’s Order to Rescue Them

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Five Things to Know in World Business Today

June 18, 2018, by Lorcan Roche Kelly and Natasha Doff (Bloomberg) Oil flow OPEC and it’s allies are discussing an output increase of between 300,000 and 600,000 barrel per day over the next few months, according to people briefed on the talks. Oil trimmed earlier losses after the Bloomberg News report, with the output increase significantly … Read moreFive Things to Know in World Business Today

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China’s tariffs on U.S. oil would disrupt $1 billion monthly business

June 17, 2018, by Henning Gloystein SINGAPORE (Reuters) – China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month. In an escalating spat over the United States’ trade deficit with most of its major … Read moreChina’s tariffs on U.S. oil would disrupt $1 billion monthly business

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Project Success: Meeting deadlines through lag time – Aimsio

Let’s talk about lag. Not the lag you plan for when you’re project sequencing – that would be too easy.   We’re talking about the frustrating delays associated with managing remote projects.  Does this scenario sound familiar? With a deadline looming, you get a call from one of your foremen to inform you that the current … Read moreProject Success: Meeting deadlines through lag time – Aimsio

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Iran Says Three OPEC Members to Veto Saudi-Proposed Supply Boost

June 17, 2018, by Grant Smith and Golnar Motevalli (Bloomberg) Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. “Three OPEC founders are going to stop it,” Iran’s representative to the … Read moreIran Says Three OPEC Members to Veto Saudi-Proposed Supply Boost

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Saudi Arabia’s Khalid Al-Falih faces most difficult OPEC test

June 17, 2018, by Javier Blas and Wael Mahdi (Bloomberg) Since he became Saudi Arabian energy minister two years ago, Khalid Al-Falih has had a good run: he persuaded a fractious OPEC to cut oil production, convinced Russia to join the cartel in curbing output, and then saw Brent crude rise nearly 75 percent to … Read moreSaudi Arabia’s Khalid Al-Falih faces most difficult OPEC test

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It’s Trump Sanctions, Not OPEC, That’s Boosting Oil: Julian Lee

Donald Trump

Jun 17, 2018, by Julian Lee (Bloomberg Opinion) As OPEC oil ministers prepared to meet in Vienna later this week, President Trump fired another twitter-shot across their bows. But it is his decision to slap sanctions back on Iran that is the real driving force behind the rising price of oil. The U.S. president has accused … Read moreIt’s Trump Sanctions, Not OPEC, That’s Boosting Oil: Julian Lee

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How School Buses Could Help Run Air Conditioners During Peak Demand

June 15, 2018, by Kevin Stark (Renewable Energy World) Schools are letting out, and that means many yellow buses are headed to storage. But what if instead of sitting idle for much of the summer, school buses had a seasonal job helping to balance the electric grid? The state of Illinois is about to test … Read moreHow School Buses Could Help Run Air Conditioners During Peak Demand

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New Research Consortium Tasked with Reducing Offshore Wind Costs

June 15, 2018, by Renewable Energy World Editors The U.S. Department of Energy (DOE) has selected the New York State Energy Research and Development Authority (NYSERDA) to administer an $18.5 million offshore wind research and development (R&D) consortium that will identify ways to reduce the cost of offshore wind in the U.S. DOE said that the consortium … Read moreNew Research Consortium Tasked with Reducing Offshore Wind Costs

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Putin Discusses Extension of OPEC+ Deal With His Security Council

June 15, 2018 MOSCOW (Reuters) – Russian President Vladimir Putin discussed questions related to an extension of the OPEC+ oil cut deal with his Security Council, Interfax news agency reported on Friday, citing Kremlin spokesman Dmitry Peskov. “The topic of the extension of the OPEC+ deal was also touched on the back of the President’s … Read morePutin Discusses Extension of OPEC+ Deal With His Security Council

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Targa NGL Pipeline Company Launches Open Season

Targa Resources

HOUSTON, June 15, 2018 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE:TRGP) (“Targa” or the “Company”) announced today that Targa NGL Pipeline Company LLC, a wholly owned subsidiary of the Company, has launched an open season commencing June 15, 2018 and closing July 6, 2018 to gauge shipper interest in firm interstate transportation service for natural … Read moreTarga NGL Pipeline Company Launches Open Season

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Valero Energy Corporation to Announce Second Quarter 2018 Earnings Results on July 26, 2018

SAN ANTONIO, June 14, 2018 (GLOBE NEWSWIRE) — Valero Energy Corporation (NYSE:VLO) today announced that it will host a conference call on July 26, 2018, at 10:00 a.m. ET to discuss second quarter earnings results, which will be released earlier that day, and provide an update on company operations. Persons interested in listening to the … Read moreValero Energy Corporation to Announce Second Quarter 2018 Earnings Results on July 26, 2018

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Sour Brew: New Tax Rules Take Steam Out of China’s Teapot Refiners

A gas injection site of Xiangguosi underground gas storage run by PetroChina is seen in Chongqing, China March 18, 2018. REUTERS/Chen Aizhu

June 15, 2018, by Meng Meng and Chen Aizhu  BEIJING (Reuters) – China’s independent oil refiners are suffering a drastic change of fortune as new tax rules, shrinking diesel demand and higher crude prices threaten their nearly three-year profit bonanza. Industry executives and analysts said nearly 40 private refiners, often called “teapots” – which account … Read moreSour Brew: New Tax Rules Take Steam Out of China’s Teapot Refiners

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South Dakota High Court Dismisses Appeal Against Keystone XL

TranCanada Keystone XL Pipeline sign

PIERRE, S.D. — South Dakota’s Supreme Court this week dismissed an appeal from opponents of the Keystone XL oil pipeline, saying a lower court lacked jurisdiction to hear their cases. Groups fighting TransCanada Corp.’s pipeline appealed a judge’s decision last year upholding regulators’ approval for the pipeline to cross the state. But the high court … Read moreSouth Dakota High Court Dismisses Appeal Against Keystone XL

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Pennsylvania Allows ETP Mariner East 1 Pipeline to Resume Service

June 14, 2018 (Reuters) – Pennsylvania’s Public Utility Commission (PUC) voted on Thursday to allow Energy Transfer Partners LP’s Sunoco Mariner East 1 natural gas liquids pipeline to return to service, reversing a suspension tied to safety concerns. The PUC stopped flows on Mariner East 1 through West Whiteland Township after sinkholes were discovered near … Read morePennsylvania Allows ETP Mariner East 1 Pipeline to Resume Service

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Potential Cushing Bottleneck Could Increase U.S. Oil Discount

Steel pipe to be used in the oil pipeline construction of Kinder Morgan Canada's Trans Mountain Expansion Project sit on rail cars at a stockpile site in Kamloops, British Columbia, Canada May 29, 2018. REUTERS/Dennis Owen

June 14, 2018, by Devika Krishna Kumar and Ayenat Mersie NEW YORK (Reuters) – As the discount of U.S. crude to global benchmark Brent nears three-year highs, an emerging bottleneck at the key storage hub in Cushing, Oklahoma, is making U.S. futures vulnerable to a drop, traders and analysts said. Infrastructure constraints in the shale-rich Permian … Read morePotential Cushing Bottleneck Could Increase U.S. Oil Discount

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Russia, Saudi Arabia Agree to Expand Cooperation in Oil and Gas Sector

FILE PHOTO: Russian Energy Minister Alexander Novak and Saudi Arabian Energy Minister Khalid al-Falih shake hands ahead of a meeting in Moscow, Russia May 31, 2017. REUTERS/Maxim Shemetov/File Photo

June 14, 2018 MOSCOW (Reuters) – Russian Energy Minister Alexander Novak and Saudi Energy Minister Khalid al-Falih have agreed to expand cooperation in the oil and gas sector, Russia’s ministry said in a statement after their meeting in Moscow. Novak and Falih also agreed to work towards a comprehensive bilateral agreement. Reporting by Vladimir Soldatkin; … Read moreRussia, Saudi Arabia Agree to Expand Cooperation in Oil and Gas Sector

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U.S. Oil Firms Use Shale Know-How to Revitalize Old Oilfields

June 14, 2018, by Ernest Scheyder BURTON, Texas (Reuters) – Among vineyards and cow pastures in East Texas last month, roughnecks started to drill in an oilfield that is 25 years past its production peak. Houston-based oil producer Wildhorse Resource Development Corp tasked the crew with breathing new life into the field by using technology … Read moreU.S. Oil Firms Use Shale Know-How to Revitalize Old Oilfields

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COLUMN-Higher Oil Prices Set to Moderate Consumption Growth: Kemp

* Chartbook: tmsnrt.rs/2Mo4xts By John Kemp LONDON, June 14 (Reuters) – Growth in global oil consumption has accelerated significantly since prices slumped in 2014 – highlighting the critical role demand plays in balancing the market. Lower oil prices stimulated OECD consumption between 2015 and 2017 and played a big role in eliminating the global oil … Read moreCOLUMN-Higher Oil Prices Set to Moderate Consumption Growth: Kemp

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Solar in the US Midwest Will Deliver Sustainable Power for Crypto Mining

June 14, 2018, by Renewable Energy World Editors Vancouver, B.C.-based solar developer Solar Alliance Energy Inc. yesterday said it is moving forward with plans to create solar-powered cryptocurrency mining facilities, with the first to be built in Illinois. The company purchased a 165,000 square foot warehouse in Murphysboro, Ill., and signed a memorandum of understanding … Read moreSolar in the US Midwest Will Deliver Sustainable Power for Crypto Mining

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Five Things to Know in World Business Today

June 15, 2018, by Lorcan Roche Kelly (Bloomberg) Tariffs President Donald Trump has approved tariffs on Chinese goods worth about $50 billion, according to a person familiar with the decision. The administration is expected to release a refined list of targeted products later today, with China’s technology sector expected to be hit hardest. Reuters reported that … Read moreFive Things to Know in World Business Today

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Largest Industrialized Countries March Toward Renewables

June 14, 2018, by Alex Tanzi and Kevin Varley (Bloomberg) Data from BP plc highlight the ongoing push toward renewable energy by the largest industrialized countries. Coal-fueled energy output is declining in Germany, Canada, the U.K., Italy and the U.S. Germany registered the biggest one year divergence in energy sources among the Group of Seven … Read moreLargest Industrialized Countries March Toward Renewables

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Coal Isn’t Safe Even in Its Asian Fortresses: Liam Denning

June 14, 2018, by Liam Denning (Bloomberg Opinion) BP’s latest review of the world’s appetite for energy, published this week, contained a startling chart indicating that coal’s grip on electricity generation has not changed in 20 years. I wrote yesterday on how, while true at a headline level, there were clear signs of a shift … Read moreCoal Isn’t Safe Even in Its Asian Fortresses: Liam Denning

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Apache Opens Application for 2018-2019 Tree Grant Program

HOUSTON, June 13, 2018 (GLOBE NEWSWIRE) — Apache Corporation (NYSE:APA) (NASDAQ:APA) today announced applications for the Apache Tree Grant Program are now available, providing an opportunity for nonprofits and charitable organizations to apply for participation. Now in its thirteenth year, the award-winning Apache Tree Grant Program has awarded more than 4 million trees to nonprofits … Read moreApache Opens Application for 2018-2019 Tree Grant Program

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Matador Resources Company Announces Execution of Salt Water Gathering and Disposal Agreement by San Mateo Midstream, LLC

DALLAS–(BUSINESS WIRE)–Matador Resources Company (“Matador” or the “Company”) today announced that a wholly-owned subsidiary of its midstream joint venture, San Mateo Midstream, LLC (“San Mateo”), has entered into a long-term agreement with a significant producer in Eddy County, New Mexico relating to the gathering and disposal of such producer’s salt water. The agreement includes the … Read moreMatador Resources Company Announces Execution of Salt Water Gathering and Disposal Agreement by San Mateo Midstream, LLC

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TechnipFMC and DOF Subsea Announce the Delivery of Skandi Recife and Commencement of Contract with Petrobras

LONDON & PARIS & HOUSTON–(BUSINESS WIRE)–TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982) and DOF Subsea (DOF) announce that the Skandi Recife, a Brazilian-flagged flexible lay and construction vessel owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its 8-year charter contract with Petróleo Brasileiro S.A. (Petrobras). The vessel will work in the … Read moreTechnipFMC and DOF Subsea Announce the Delivery of Skandi Recife and Commencement of Contract with Petrobras

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China and India Want to Buy More U.S. Oil to Counter OPEC

June 13, 2018, by Debjit Chakraborty (Bloomberg) Two of Asia’s largest crude buyers are considering teaming up to buy U.S. supplies and counter OPEC’s dominance in the world’s biggest oil market. India and China are discussing ways to boost imports of U.S. crude to Asia, a move aimed at reducing their dependence on cargoes from … Read moreChina and India Want to Buy More U.S. Oil to Counter OPEC

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Five Things to Know in World Business Today

June 14, 2018, by Lorcan Roche Kelly (Bloomberg) Draghi’s choice  Today’s European Central Bank meeting comes down to one thing – whether the governing council decide to announce a timetable for the end of the bank’s asset purchase program this month, or wait until July’s meeting. With the euro-area experiencing a spate of weak economic data recently, … Read moreFive Things to Know in World Business Today

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TransCanada Working on Leach Xpress Natgas Pipe After West Virginia Blast

(Reuters) – TransCanada Corp’s Columbia Gas Transmission (TCO) unit said it was working on a section of the Leach Xpress natural gas pipeline downstream of a pipe blast in West Virginia last week. That work will enable the Stagecoach-Leach Xpress meter in southeast Ohio to return to service, according to a notice to customers late … Read moreTransCanada Working on Leach Xpress Natgas Pipe After West Virginia Blast

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Russia and Saudi Arabia Pursue OPEC Deal at World Cup Meeting

Saudi-Deputy-Crown-Prince-Mohammed-bin-Salman_Vladimir-Putin-Russia

June 13, 2018, by Elena Mazneva, Javier Blas and Grant Smith (Bloomberg) Come for the football, stay for the oil diplomacy. Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman will discuss how to boost oil production while maintaining their petro-alliance when they meet in Moscow tomorrow to watch the soccer World Cup’s opening … Read moreRussia and Saudi Arabia Pursue OPEC Deal at World Cup Meeting

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Coal’s 20-Year Reign Masks a Brewing Revolution: Liam Denning

Coal Train

June 13, 2018, by Liam Denning (Bloomberg Opinion) BP’s latest Statistical Review of World Energy, released Wednesday, contains a chart that could leave environmentalists feeling somewhat flat (much like the lines): Coal’s share of the world’s electricity mix was about 38 percent in 1997, and in 2017 it was about … 38 percent.  Fossil fuels … Read moreCoal’s 20-Year Reign Masks a Brewing Revolution: Liam Denning

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Global Emissions Hit Record With Paris Deal Targets in Limbo

June 13, 2018, by Mathew Carr and Kelly Gilblom (Bloomberg) Two years after 200 or so nations forged a new United Nations deal to protect the climate, output of the gases blamed for global warming surged to a record. Carbon dioxide emissions from energy use climbed 1.6 percent in 2017, with both emerging and developed … Read moreGlobal Emissions Hit Record With Paris Deal Targets in Limbo

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U.S. Energy Firms Chasing Oil Price Rally Stumble on Old Baggage

June 13, 2018, by David French NEW YORK (Reuters) – With oil price recovery taking hold, several U.S. oil and gas companies entered 2018 with a compelling plan – sell undeveloped or less essential fields and invest the money to boost returns from their sweetest, most productive spots. There is a catch, though. The strategy … Read moreU.S. Energy Firms Chasing Oil Price Rally Stumble on Old Baggage

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Phillips 66 to Expand Texas Natural Gas Liquids Project

June 13 (Reuters) – U.S. oil refiner Phillips 66 said on Wednesday it planned to spend up to $1.5 billion on the expansion of its natural gas liquids project in Sweeny, Texas. The expansion includes the construction of two natural gas liquids fractionators, with a capacity of 150,000 barrel per day (bpd) each, the company … Read morePhillips 66 to Expand Texas Natural Gas Liquids Project

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Oil Majors Ask U.S. Judge to Toss New York City Climate Lawsuit

Big Oil

June 13, 2018, by Brendan Pierson NEW YORK (Reuters) – Lawyers for major oil companies on Wednesday urged a federal judge to throw out a lawsuit filed by New York City seeking to hold them financially liable for damages caused by global warming. Theodore Boutrous, a lawyer for Chevron Corp, said at a hearing before … Read moreOil Majors Ask U.S. Judge to Toss New York City Climate Lawsuit

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Deal to Boost OPEC Oil Output ‘Inevitable’, Says Saudi Minister

Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia May 25, 2018. REUTERS/Sergei Karpukhin

June 14, 2018, by Bloomberg (Arabian Business) Khalid Al-Falih says agreement will be reached to satisfy market at meeting next week. It’s “inevitable” that OPEC and its allies will agree to boost oil output gradually at their meeting in Vienna next week, said Saudi Arabia’s Energy Minister on Thursday. “As usual we will do the … Read moreDeal to Boost OPEC Oil Output ‘Inevitable’, Says Saudi Minister

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Venezuela Eyes First-Ever Refining of Foreign Oil

FILE PHOTO: A man walks past a gas station with the logos of the Venezuelan state oil company PDVSA in Caracas, Venezuela December 23, 2016. REUTERS/Carlos Garcia Rawlins/File Photo

June 13, 2018, by Marianna Parraga HOUSTON (Reuters) – Venezuela is considering producing fuels from foreign crude oil for the first time, according to planning documents seen by Reuters, as the country struggles to meet its obligations despite having the world’s largest crude reserves. State-run oil company PDVSA may process up to 57,000 barrels per … Read moreVenezuela Eyes First-Ever Refining of Foreign Oil

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Next Big Thing for U.S. Drillers Is a Play Jilted 20 Years Ago

June 14, 2018, by Alex Nussbaum (Bloomberg) The next frontier for U.S. oil’s resurgence may come on familiar terrain. The Austin Chalk, a vast underground highway of rock that runs along the Gulf Coast, is garnering new attention this year, with drillers including ConocoPhillips and EOG Resources Inc. trumpeting efforts in an area the industry … Read moreNext Big Thing for U.S. Drillers Is a Play Jilted 20 Years Ago

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Iran, Other Dissenters Complicate OPEC Oil Output Boost

A desert oil field in the Sakhir area of Bahrain. The country ranks 57th in the list of oil producers. Photograph: Hasan Jamali/AP

June 13, 2018, by Rania El Gamal and Alex Lawler DUBAI/LONDON (Reuters) – At least three OPEC members disagree with Saudi Arabia and Russia on the need to pump more oil, OPEC sources said, complicating any official decision to boost supply just as consuming nations are warning of a shortage. In attempt to bridge differences, … Read moreIran, Other Dissenters Complicate OPEC Oil Output Boost

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Trump, Iran Spar Over Oil Prices Ahead of OPEC Meeting

Donald Trump

June 13, 2018, by Susan Heavey and Alex Lawler WASHINGTON/LONDON (Reuters) – U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. Trump … Read moreTrump, Iran Spar Over Oil Prices Ahead of OPEC Meeting

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New IHS Markit Outlook – “Stunning” Permian Basin Oil Production to More than Double from 2017-2023, Exceeding Expectations

WASHINGTON–(BUSINESS WIRE)–Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 mbd by 2023—a level of growth exceeding most recent estimates, a new outlook by business information provider IHS Markit (Nasdaq: INFO) says. What the report describes as a “stunning” level of growth will comprise more than … Read moreNew IHS Markit Outlook – “Stunning” Permian Basin Oil Production to More than Double from 2017-2023, Exceeding Expectations

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Trump Renews Attack on OPEC, Says Oil Prices Too High

June 13, 2018 WASHINGTON (Reuters) – U.S. President Donald Trump on Wednesday renewed his attack on OPEC and again criticized the coalition of petroleum producing countries for rising oil prices. “Oil prices are too high, OPEC is at it again. Not good!” Trump wrote in a post on Twitter. Reporting by Susan Heavey and Doina … Read moreTrump Renews Attack on OPEC, Says Oil Prices Too High

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Oil Demand Seen Steady in 2019 but OPEC Supply, Trade Risks Loom: IEA

Red Oil Barrels

June 13, 2018, by Amanda Cooper LONDON (Reuters) – Oil demand will grow steadily in 2019 thanks to a solid global economy, but the world may face a large supply gap by late next year if OPEC cannot cover any supply shortfalls, the International Energy Agency said on Wednesday. The report serves as a stark … Read moreOil Demand Seen Steady in 2019 but OPEC Supply, Trade Risks Loom: IEA

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Commentary: Why This Wasn’t Kim’s Father’s – or Grandfather’s – Summit

U.S. President Donald Trump and North Korea's leader Kim Jong Un walk during their summit at the Capella Hotel on Sentosa island in Singapore June 12, 2018. Anthony Wallace/Pool via Reuters

June 13, 2018, by James Dobbins (Reuters) The joint statement issued by the American and North Korean leaders after Tuesday’s Singapore summit is a shorter and weaker version of promises made by Kim Jong Un’s father and grandfather – and those made by the younger Kim to South Korean President Moon Jae-in less than two … Read moreCommentary: Why This Wasn’t Kim’s Father’s – or Grandfather’s – Summit

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Volvo Wants to Convert Diesel Trucks into Clean Energy Storage

June 13, 2018, by Renewable Energy World Editors Volvo is behind new research that could help convert old diesel truck engines into compressed air energy storage systems for fueling large electric vehicle fleets. The University of Nottingham in the U.K. said this week that it will conduct the research with support from Volvo Trucks. “What … Read moreVolvo Wants to Convert Diesel Trucks into Clean Energy Storage

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Saudis Are Said to Float Range of Ideas for Higher OPEC Output

June 13, 2018, by Grant Smith, Javier Blas and Elena Mazneva (Bloomberg) Saudi Arabia has floated several oil output hike plans to fellow OPEC members, including one with a two-step increase, as the kingdom seeks ways to narrow differences with Russia and the rest of the cartel, according to people briefed on the discussions. The … Read moreSaudis Are Said to Float Range of Ideas for Higher OPEC Output

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Why De-Nuking North Korea Is So Difficult: Mark Buchanan

June 13, 2018, by Mark Buchanan (Bloomberg Opinion) President Donald Trump says many things that aren’t true, but following his historic meeting Tuesday with North Korean leader Kim Jong Un, his repeated assertion during a press conference that “it does take a long time” to “pull off complete denuclearization” stacks up pretty well. It will … Read moreWhy De-Nuking North Korea Is So Difficult: Mark Buchanan

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IEA Says Iran, Venezuela Oil Output Could Slump by Almost 30%

June 13, 2018, by Grant Smith (Bloomberg) OPEC members Iran and Venezuela could lose almost 30 percent of their oil output next year due to U.S. sanctions and economic upheaval, requiring extra supplies from the group’s Gulf members, the International Energy Agency said. In its first detailed forecast for 2019, the IEA said new oil … Read moreIEA Says Iran, Venezuela Oil Output Could Slump by Almost 30%

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Five Things to Know in World Business Today

June 13, 2018, by Lorcan Roche Kelly (Bloomberg) Decision day The Federal Open Market Committee is almost certain to announce a quarter-point raise in interest rates when it publishes its decision at 2:00 p.m. Eastern Time today. If that happens, investor focus will turn to the dot-plot, which may show a median estimate of four hikes this year, … Read moreFive Things to Know in World Business Today

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Russia Is Said to Seek Oil-Cuts Rollback for Most OPEC+ Nations

Drilling Rig pipes

June 12, 2018, by Elena Mazneva (Bloomberg) Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels, rolling back most but not all of their output cuts within three months, according to a person familiar with Russian thinking. The nations would proportionally share out a 1.8 million … Read moreRussia Is Said to Seek Oil-Cuts Rollback for Most OPEC+ Nations

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Saudi Aramco Eyes Partnerships as It Expands Refining, Petrochems

June 12, 2018, by Rania El Gamal DHAHRAN, Saudi Arabia (Reuters) – Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand. Aramco, the world’s biggest oil … Read moreSaudi Aramco Eyes Partnerships as It Expands Refining, Petrochems

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Trump, in Trade Feud with Allies, Say won’t Let Them Take Advantage of U.S.

June 12, 2018, by Matt Spetalnick and David Brunnstrom SINGAPORE (Reuters) – U.S. President Donald Trump on Tuesday kept up his feud with America’s closest allies over trade, saying he could not allow them to continue taking advantage of the United States. Although he insisted he had a good relationship with Justin Trudeau, just days … Read moreTrump, in Trade Feud with Allies, Say won’t Let Them Take Advantage of U.S.

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Tesla Cuts 9 Percent of Workforce in Search for Profit

Tesla Office

June 12, 2018, by Salvador Rodriguez and Laharee Chatterjee (Reuters) – Electric car maker Tesla Inc (TSLA.O) is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan. In an email he said had been sent to staff, billionaire … Read moreTesla Cuts 9 Percent of Workforce in Search for Profit

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EPA Chief Hints He Could Order More Ethanol in Fuel

June 12, 2018, by Chris Prentice NEW YORK (Reuters) – A week after the White House suspended its bid to reform the nation’s biofuels policy to aid oil refiners, the head of the Environmental Protection Agency on Tuesday dangled a tantalizing prospect to Midwest corn farmers, saying the agency has the power to expand sales … Read moreEPA Chief Hints He Could Order More Ethanol in Fuel

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U.S. Solar Installations will be Flat This Year: Report

Solar Panels

June 11, 2018, by Nichola Groom (Reuters) – U.S. solar installations are expected to be flat this year compared with 2017 due to weakness in several major residential markets and slower growth in big projects, according to a report released on Tuesday. The solar market, which for much of the last decade experienced runaway growth, … Read moreU.S. Solar Installations will be Flat This Year: Report

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Resolute Energy Corporation Announces Completion of Exchange Offer for Its 8.50% Senior Notes Due 2020

DENVER, June 11, 2018 (GLOBE NEWSWIRE) — Resolute Energy Corporation (the “Company” or “Resolute”) (NYSE:REN) announced today the completion of its offer to exchange (the “Exchange Offer”) up to $75,000,000 aggregate principal amount of its 8.50% Senior Notes due 2020, which have been registered under the Securities Act of 1933, as amended (the “Exchange Notes”), … Read moreResolute Energy Corporation Announces Completion of Exchange Offer for Its 8.50% Senior Notes Due 2020

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Oil States Adds Darrell E. Hollek to its Board

HOUSTON, June 11, 2018 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE:OIS) announced today that its Board of Directors elected Darrell E. Hollek as a member of its Board of Directors. Mr. Hollek will serve as a Class III Director with an initial term expiring in May 2019. “I’m happy to welcome Darrell to his … Read moreOil States Adds Darrell E. Hollek to its Board

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Exxon Mobil Breaks with Past, Bulks Up Energy Trading to Boost Profit

June 11, 2018, by Liz Hampton and Ernest Scheyder HOUSTON (Reuters) – Exxon Mobil Corp (XOM.N) is pushing deeper into energy trading, building a global cadre of experienced traders and beefing up risk-management systems to lift profit, according to executive recruiters and people familiar with the business. The development is a sea change for a … Read moreExxon Mobil Breaks with Past, Bulks Up Energy Trading to Boost Profit

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Trump, Kim Agree on Denuclearization, but Deal Seen Symbolic

U.S. President Donald Trump and North Korea's leader Kim Jong Un walk during their summit at the Capella Hotel on Sentosa island in Singapore June 12, 2018. Anthony Wallace/Pool via Reuters

June 11, 2018, by Steve Holland, Jack Kim and Soyoung Kim SINGAPORE (Reuters) – U.S. President Donald Trump and North Korean leader Kim Jong Un pledged on Tuesday to work toward complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees for its old enemy. The joint statement signed at the end … Read moreTrump, Kim Agree on Denuclearization, but Deal Seen Symbolic

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OPEC Cautious on Oil Outlook Despite End of Global Glut

June 12, 2018, by Alex Lawler LONDON (Reuters) – OPEC said on Tuesday the oil market outlook in the second half of the year is highly uncertain even though the producer group’s figures show a global glut has ended, suggesting exporters will be in no rush to relax output curbs at a meeting next week. … Read moreOPEC Cautious on Oil Outlook Despite End of Global Glut

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OPEC will Squeeze Oil buffer to Historic Lows with an Output Hike

Oil Plant Worker

June 12, 2018, by Ahmad Ghaddar LONDON (Reuters) – The oil industry will face the biggest squeeze on its spare production capacity in more than three decades if OPEC and its allies agree next week to hike crude output, leaving the world more at risk of a price spike from any supply disruption. Spare capacity … Read moreOPEC will Squeeze Oil buffer to Historic Lows with an Output Hike

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Solar Surpasses Gas and Wind as Biggest Source of New U.S. Power

June 11, 2018, by Christopher Martin (Bloomberg) Despite tariffs that President Trump imposed on imported panels, the U.S. installed more solar energy than any other source of electricity in the first quarter. Developers installed 2.5 gigawatts of solar in the first quarter, up 13 percent from a year earlier, according to a report Tuesday from … Read moreSolar Surpasses Gas and Wind as Biggest Source of New U.S. Power

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U.S. Regulators Urge Better Oversight for Pipeline Cybersecurity

June 11, 2018, by Rachel Adams-Heard (Bloomberg) The federal agency now charged with overseeing cybersecurity for U.S. pipelines is ill equipped to do the job, say two top regulators who want the role given to the Energy Department. The Federal Energy Regulatory Commission’s Neil Chatterjee, a Republican, and Richard Glick, a Democrat, wrote in an … Read moreU.S. Regulators Urge Better Oversight for Pipeline Cybersecurity

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Five Things to Know in World Business Today

June 12, 2018, by Lorcan Roche Kelly (Bloomberg) Singapore success President Donald Trump and Kim Jong Un signed a declaration that North Korea would work toward “ complete denuclearization of the Korean peninsula,” with Trump saying representatives from the two sides will hold further meetings as soon as next week. While the agreement signed by the leaders has no … Read moreFive Things to Know in World Business Today

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LNG Trade Grows 10 Percent in 2017 as U.S., Australia Boost Exports

LNG And LPG Operations At Aqaba Port, Jordan

June 11, 2018 (Reuters) – Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in the Australia and the United States, the U.S. Energy Information Administration (EIA) said on Monday. LNG trade reached 38.2 billion cubic feet per day (bcfd) in 2017, up 3.5 bcfd from … Read moreLNG Trade Grows 10 Percent in 2017 as U.S., Australia Boost Exports

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Tesla’s Autopilot to Get ‘Full Self-Driving Feature’ in August

June 11, 2018 (Reuters) – Shares of Tesla Inc (TSLA.O) rose as much as 5 percent on Monday after Chief Executive Officer Elon Musk tweeted that its Autopilot driver assistance system will get full self-driving features following a software upgrade in August. Autopilot, a form of advanced cruise control, handles some driving tasks and warns … Read moreTesla’s Autopilot to Get ‘Full Self-Driving Feature’ in August

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Solar Parts Manufacturer Says Trump Tariffs Are Taking a Toll

June 11, 2018, by Kathiann M. Kowalski (Renewable Energy World) The manufacturer of metal parts for the solar industry says tariffs have put it at a “huge disadvantage” against foreign competitors. Talan Products’ metal stamping and aluminum extrusion business was close to clinching a huge contract. Then the announcement of the Trump administration’s steel and aluminum … Read moreSolar Parts Manufacturer Says Trump Tariffs Are Taking a Toll

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Iraq Says Oil Producers Should Not Be Influenced by Calls to Boost Output

Refinery smoke

June 11, 2018 DUBAI (Reuters) – Iraq’s oil minister said on Monday producers should not be influenced by pressure to pump more oil and unilateral decisions on output could be a breach of a supply cut pact between OPEC and non-OPEC countries, leading to its possible collapse. With oil recently reaching $80 a barrel, the … Read moreIraq Says Oil Producers Should Not Be Influenced by Calls to Boost Output

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The Permian Blowout Is Apparently Never-Ending: Liam Denning

June 11, 2018, by Liam Denning (Bloomberg Opinion) Energy dominance carries its own backlash, it turns out. Ground zero is the Permian basin in west Texas, where oil production has run ahead of pipeline capacity to get it to market, forcing some U.S. barrels to price at wide discounts. Thankfully, new pipelines should fix the … Read moreThe Permian Blowout Is Apparently Never-Ending: Liam Denning

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The Permian Blowout Is Apparently Never-Ending: Liam Denning

June 11, 2018 by Liam Denning (Bloomberg Opinion) Energy dominance carries its own backlash, it turns out. Ground zero is the Permian basin in west Texas, where oil production has run ahead of pipeline capacity to get it to market, forcing some U.S. barrels to price at wide discounts. Thankfully, new pipelines should fix the … Read moreThe Permian Blowout Is Apparently Never-Ending: Liam Denning

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Iraq Will Look at Oil Output After OPEC Makes Decision

FILE PHOTO: Iraqi Oil Minister Jabar al-Luaibi speaks during a news conference in Basra, Iraq June 6, 2018. REUTERS/Essam Al-Sudani

June 11, 2018 BAGHDAD (Reuters) – Iraq will look at whether to increase oil output if OPEC decides to lift production at a meeting on June 22, the country’s oil minister said on Monday. Jabar al-Luaibi said Iraq’s current oil output was within the agreed limit with OPEC at around 4.325 million barrels per day. … Read moreIraq Will Look at Oil Output After OPEC Makes Decision

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Saudi Oil Output Said to Top 10 Million Barrels a Day

Pump Jack

June 11, 2018, by Bloomberg (Arabian Business) Source says Saudi Arabia boosted daily oil output in May to the highest level since October. Saudi Arabia boosted daily oil output in May to the highest level since October, ahead of meetings with Russia and other global producers next week where they may propose raising production even … Read moreSaudi Oil Output Said to Top 10 Million Barrels a Day

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Audi CEO Stadler Named a Suspect in Diesel Case; Home Raided

Audi CEO Rupert Stadler

June 11, 2018, by Karin Matussek and Chris Reiter (Bloomberg) The head of Volkswagen AG’s Audi brand was named a suspect in the diesel-rigging scandal, making him the highest-ranking active official in a probe that’s now focusing on upper management nearly three years after the carmaker admitted to cheating. The homes of Rupert Stadler and … Read moreAudi CEO Stadler Named a Suspect in Diesel Case; Home Raided

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Rolls-Royce 787 Engine Woes Widen as Thousands of Job Cuts Loom

FILE PHOTO: A view of one of two Rolls Royce Trent 1000 engines of the Boeing 787 Dreamliner during a media tour of the aircraft ahead of the Singapore Airshow in Singapore February 12, 2012. REUTERS/Edgar Su/File Photo

Jun 11, 2018, by Christopher Jasper (Bloomberg) Rolls-Royce Holdings Plc’s engine-durability crisis worsened after the company detected new issues that will require extra repair shop visits on a further batch of turbines that power Boeing Co.’s 787 airliner. The glitch concerns a pressure compressor on “Package B” Trent 1000 engines for the wide-body plane, London-based … Read moreRolls-Royce 787 Engine Woes Widen as Thousands of Job Cuts Loom

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Solar Alliance Completes Three Solar Projects in Cooperation with Whayne Supply Company

KNOXVILLE, Tenn. and VANCOUVER, British Columbia, June 11, 2018 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V:SOLR) is pleased to announce it has completed the installation of three solar projects in Kentucky in cooperation with Whayne Supply, a Caterpillar Dealer serving Kentucky, West Virginia South Eastern Ohio and Southern Indiana. Solar … Read moreSolar Alliance Completes Three Solar Projects in Cooperation with Whayne Supply Company

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CIRCOR International Announces Public Offering of Common Stock

BURLINGTON, Mass.–(BUSINESS WIRE)–CIRCOR International, Inc. (NYSE: CIR) (“CIRCOR” or the “Company”) today announced that Colfax Corporation, a Delaware corporation and a stockholder of CIRCOR, has commenced an underwritten, registered secondary offering of 3,283,424 shares of CIRCOR common stock. In connection with this offering, the Company expects to grant the underwriters a 30-day option to purchase … Read moreCIRCOR International Announces Public Offering of Common Stock

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‘Fair Trade, Fool Trade’, Trump’s Tweets Spew Ire on NATO Allies, Trudeau

FILE PHOTO: German Chancellor Angela Merkel speaks to U.S. President Donald Trump during the second day of the G7 meeting in Charlevoix city of La Malbaie, Quebec, Canada, June 9, 2018. Bundesregierung/Jesco Denzel/Handout via REUTERS

June 10, 2018, by Matt Spetalnick and David Brunnstrom SINGAPORE (Reuters) – U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend. The escalating clash over trade between Washington … Read more‘Fair Trade, Fool Trade’, Trump’s Tweets Spew Ire on NATO Allies, Trudeau

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Five Things to Know in World Business Today

June 11, 2018, by Lorcan Roche Kelly (Bloomberg) G-7, Go Sing. This weekend’s G-7 summit in Canada, despite the late  dramatics, ended pretty much as analysts had expected, with President Donald Trump rejecting the communique issued for the meeting. While there was some selling of the Canadian dollar when markets opened, reaction has generally been benign. … Read moreFive Things to Know in World Business Today

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Biggest Electric-Vehicle Battery Maker Soars 44% on Debut

June 10, 2018, by Ma Jie (Bloomberg) Shares of the world’s biggest maker of electric-vehicle batteries jumped on their trading debut as investors bet on rising demand for new-energy cars worldwide. Contemporary Amperex Technology Ltd. rose by the maximum 44 percent to 36.20 yuan at 10:17 a.m. in Shenzhen, China, valuing the company at about … Read moreBiggest Electric-Vehicle Battery Maker Soars 44% on Debut

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Why the Construction Industry Can’t Afford to Ignore Digital Trends – Aimsio

Globally, the construction industry is poised to service a predominantly urban population that will reach 9 billion by 2050. Keeping pace with growth and urbanization on this scale means significant increases in output are required from the heavy civil construction industry. Capital project and infrastructure spending is forecast to top $9 trillion globally in the … Read moreWhy the Construction Industry Can’t Afford to Ignore Digital Trends – Aimsio

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Hedge Fund With 69% Return Sees More to Come From Oil Recovery

June 10, 2018, by Mikael Holter (Bloomberg) A hedge fund run by a former associate of billionaire John Fredriksen has gained 69 percent in two years betting on shunned oil-related assets — and it’s not nearly done exploiting the recovery. The Titan Opportunities Fund, which now manages about $100 million, started investing in June 2016 … Read moreHedge Fund With 69% Return Sees More to Come From Oil Recovery

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The Real Test When Trump Meets Kim Is Do No Harm: Editorial

Jun 10, 2018, by The Editors (Bloomberg View) President Donald Trump says he’s meeting Kim Jong Un this week to win “complete, verifiable and irreversible” denuclearization of North Korea. He won’t get it — but that doesn’t mean the venture is doomed to fail. A bargain short of that goal might still count as success, … Read moreThe Real Test When Trump Meets Kim Is Do No Harm: Editorial

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OPEC Haves Can Overpower the Have-Nots in Vienna: Julian Lee

June 10, 2018, by Julian Lee (Bloomberg Opinion) OPEC and its friends can be divided up in many ways, but the most useful in the current environment is the “haves” and the “have nots.” The first group consists of Russia, Saudi Arabia and the other countries of the Arabian Peninsula, who have the spare capacity … Read moreOPEC Haves Can Overpower the Have-Nots in Vienna: Julian Lee

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Pope Warns Energy Bosses of Global Destruction Without Fuel Shift

June 9, 2018, by Philip Pullella VATICAN CITY (Reuters) – Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe. “Civilization requires energy but energy use must not destroy civilization,” the pope told top oil company executives … Read morePope Warns Energy Bosses of Global Destruction Without Fuel Shift

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Batteries Hasten Winds of Change for Electricity Stocks: Barron’s

June 10, 2018 NEW YORK (Reuters) – Bigger, better batteries are speeding up change in the U.S. electricity sector and could help power a rally in Xcel Energy Inc (XEL.O), American Electric Power Co Inc (AEP.N) and other utility and renewable energy stocks, Barron’s reported. After a decade of steep cost declines, wind and solar … Read moreBatteries Hasten Winds of Change for Electricity Stocks: Barron’s

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U.S. Drillers Add Oil Rigs for Third Week in a Row

June 8 (Reuters) – U.S. energy companies added oil rigs for a third week in a row even though crude prices have declined about 8 percent over the past three weeks. Drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015, General … Read moreU.S. Drillers Add Oil Rigs for Third Week in a Row

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Next Offshore Wind in U.S. Can Compete With Gas, Developer Says

June 8, 2018, by Jim Efstathiou Jr. (Bloomberg) Massive offshore wind turbines keep getting bigger, and that’s helping make the power cheaper — to the point where developers say new projects in U.S. waters can compete with natural gas. The price “is going to be a real eye-opener,” said Bryan Martin, chairman of Deepwater Wind LLC, … Read moreNext Offshore Wind in U.S. Can Compete With Gas, Developer Says

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Oil Explorers Hungry for ‘Super-Spec’ Rigs Expand U.S. Drilling

Shale Rig

June 8, 2018, by David Wethe (Bloomberg) Oil drillers added more rigs in the U.S. this week, undaunted by pipeline bottlenecks that are hindering efforts to ship crude from the nation’s busiest field. U.S. working oil rigs rose by one this week to 862, the highest since March 2015, according to data from Baker Hughes. … Read moreOil Explorers Hungry for ‘Super-Spec’ Rigs Expand U.S. Drilling

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The G-7 Will Be a Seminar in Anger Management: Mark Gongloff

June 8, 2018, by Mark Gongloff (Bloomberg) Welcome to Bloomberg Opinion Today, an afternoon roundup of our opinions on business, politics, markets, technology and more. New subscribers can sign up here. Today’s Agenda G-6 leaders must figure out how to handle Trump. China’s the likely winner of the Trump-Kim summit. The economy’s not in trouble … yet. Those … Read moreThe G-7 Will Be a Seminar in Anger Management: Mark Gongloff

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Venezuela Is Said to Urge OPEC to Unite Against Sanctions

Jun 8, 2018, by Grant Smith and Laura Hurst (Bloomberg) Venezuela wrote to fellow OPEC members urging them to unite against U.S. sanctions, echoing a similar letter from Iran, according to people with knowledge of the matter. The two countries requested that the Organization of Petroleum Exporting Countries should discuss the impact of American sanctions … Read moreVenezuela Is Said to Urge OPEC to Unite Against Sanctions

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There’s a Better Answer Than Electric Cars: Leonid Bershidsky

Jun 8, 2018, by Leonid Bershidsky (Bloomberg) Erich Sixt, chairman and chief executive officer of the Pullach, Germany-based global car rental company that bears his family’s name, recently described electric cars as a “costly political error” given their still inferior range, long charging times and the huge investment necessary to expand the charging infrastructure. It may … Read moreThere’s a Better Answer Than Electric Cars: Leonid Bershidsky

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Natural Gas Weekly Update Report – June 7, 2018

U.S. natural gas exports experience significant year-over-year growth U.S. exports of natural gas, including exports via pipeline and as liquefied natural gas (LNG), averaged 9.6 billion cubic feet per day (Bcf/d) in the first quarter of this year, according to EIA’s most recent Natural Gas Monthly report. This level of exports is 0.7 Bcf/d (8%) … Read moreNatural Gas Weekly Update Report – June 7, 2018

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ConocoPhillips Announces Pricing of Cash Tender Offer

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) announced today the pricing terms of the previously announced tender offer (the “Tender Offer”) by ConocoPhillips and its wholly-owned subsidiary, ConocoPhillips Company (“CPCo” and, together with ConocoPhillips, the “Company”), to purchase up to $1.80 billion in aggregate principal amount (the “Maximum Tender Offer Amount”) of the outstanding debt securities (collectively, the … Read moreConocoPhillips Announces Pricing of Cash Tender Offer

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Abraxas Announces Resignation of Chief Financial Officer

Abraxas Petroleum Logo

SAN ANTONIO–(BUSINESS WIRE)–Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ: AXAS) today announced Geoffrey R. King, Vice President and Chief Financial Officer of Abraxas, submitted his resignation on June 4, 2018 to pursue another opportunity in the financial sector. Mr. King’s resignation is not the result of any dispute or disagreement with the Company, or … Read moreAbraxas Announces Resignation of Chief Financial Officer

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Here’s Why Trump’s New Strategy to Keep Ailing Coal and Nuclear Plants Open Makes No Sense

June 8, 2018, by James Van Nostrand (Renewable Energy World) President Donald Trump recently ordered Energy Secretary Rick Perry to take “immediate steps” to stop the closure of coal and nuclear power plants. And according to a draft memo that surfaced the same day, the federal government may establish a “Strategic Electric Generation Reserve” to purchase … Read moreHere’s Why Trump’s New Strategy to Keep Ailing Coal and Nuclear Plants Open Makes No Sense

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While Trump Tries to Save Coal, Some in His Party Want Solar

Coal Train

June 8, 2018, by Brian Eckhouse and Bill Allison (Bloomberg) While President Donald Trump searches for a way to save America’s coal country, some in his own party have their eyes set on what’s arguably the exact opposite: bolstering solar. Since taking office, Trump has sought to undo his predecessor’s renewable energy-friendly policies, levied tariffs … Read moreWhile Trump Tries to Save Coal, Some in His Party Want Solar

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Five Things to Know in World Business Today

June 8, 2018, by Lorcan Roche Kelly (Bloomberg) Not hanging around President Donald Trump will leave the two-day G-7 summit in Quebec tomorrow morning to head to Singapore to prepare for his meeting with North Korea’s Kim Jong Un. With tensions between the president and U.S. allies running high, and French President Emmanuel Macron saying he won’t sign … Read moreFive Things to Know in World Business Today

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TransCanada Contains West Virginia Natgas Pipeline Blast, No Injuries

June 7, 2018 (Reuters) – TransCanada Corp said it has isolated the section of Columbia Gas Transmission pipe that exploded early Thursday in Moundsville, West Virginia. There were no employees at the site at the time of the blast around 4:15 a.m. EDT (0815 GMT) and no homes were in danger, officials from the Roberts … Read moreTransCanada Contains West Virginia Natgas Pipeline Blast, No Injuries

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BP Complains to Canada Regulator About Enbridge Oil Pipeline Actions

June 7, 2018, by Rod Nickel and Julie Gordon (Reuters) – Oil producer BP Plc (BP.L) complained to Canada’s National Energy Board (NEB) regulator about Enbridge Inc’s (ENB.TO) implementation and then abrupt reversal of new rules for shipping crude on its Mainline pipeline system, NEB documents showed on Thursday. Enbridge notified shippers late last month … Read moreBP Complains to Canada Regulator About Enbridge Oil Pipeline Actions

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Wax On, Wax Off: Shale Oil’s ‘Waxy’ Features Crimp U.S. Jet Fuel Supply

June 7, 2018, by Stephanie Kelly and Jessica Resnick-Ault NEW YORK (Reuters) – Jet fuel prices are at six-year highs, and part of the reason is linked to record U.S. shale crude production and the unique properties refiners contend with when they refine that oil. The United States produced about 4.7 million barrels per day … Read moreWax On, Wax Off: Shale Oil’s ‘Waxy’ Features Crimp U.S. Jet Fuel Supply

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Construction Planned to Prepare Alaska’s Arctic Refuge for Oil Drilling

June 7, 2018, by Yereth Rosen ANCHORAGE, Alaska (Reuters) – The Trump administration said on Thursday it would spend $4 million on construction projects in the Arctic National Wildlife Refuge in preparation for oil drilling in the nation’s biggest wildlife park. In an announcement that touted planned improvements to U.S. Fish and Wildlife Service visitor … Read moreConstruction Planned to Prepare Alaska’s Arctic Refuge for Oil Drilling

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G7 Leaders Set to Clash with Combative Trump Over Tariffs, Trade

June 7, 2018, by Jan Strupczewski, William James QUEBEC CITY (Reuters) – Leaders of the Group of Seven rich nations are set to clash with a combative U.S. President Donald Trump on Friday when they pressure him to lift sanctions on steel and aluminum they fear could lead to a trade war. The confrontation threatens … Read moreG7 Leaders Set to Clash with Combative Trump Over Tariffs, Trade

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Iran Slams U.S. for Seeking Saudi Oil Output Hike, Says OPEC Won’t Comply

June 8, 2018, by Alex Lawler LONDON (Reuters) – Iran criticized a U.S. request that Saudi Arabia pump more oil to cover a drop in Iranian exports and predicted OPEC would not heed the appeal, setting the stage for a tough meeting of the producer group later this month. Iran’s OPEC governor, Hossein Kazempour Ardebili, … Read moreIran Slams U.S. for Seeking Saudi Oil Output Hike, Says OPEC Won’t Comply

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Judge Rules for North Dakota Landowner in Pipeline Dispute

BISMARCK, N.D. — A judge has dismissed Montana-Dakota Utilities’ eminent domain lawsuit over a proposed half-mile natural gas pipeline in northern North Dakota, a decision hailed by landowner attorneys as a rare victory. North Central District Judge Gary Lee ruled May 29 that harm to private landowner Lavern Behm outweighed any public benefits from the … Read moreJudge Rules for North Dakota Landowner in Pipeline Dispute

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Air Quality Standards Introduced by Obama Administration Derailed: Diamond Scientific

In 2015, the EPA introduced the The National Ambient Air Quality Standards, which reduced the amount of ozone permitted at ground-level COCOA, FLORIDA , USA, June 6, 2018 /EINPresswire.com/ — On Tuesday last week, the House voted in favor of passing a Republican-backed bill that will delay the implementation of air quality regulations imposed by … Read moreAir Quality Standards Introduced by Obama Administration Derailed: Diamond Scientific

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Baker Hughes, a GE Company Announces May 2018 Rig Counts

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for May 2018 was 967, down 11 from the 978 counted in April 2018, and up 10 from the 957 counted in May 2017. The international offshore rig count for May 2018 was 198, up 4 from … Read moreBaker Hughes, a GE Company Announces May 2018 Rig Counts

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Why the Saudi-Russia Football Clash has Oil Market’s Attention

Saudi-Deputy-Crown-Prince-Mohammed-bin-Salman_Vladimir-Putin-Russia

June 7, 2018, by Bloomberg (Arabian Business) Vladimir Putin and Mohammed bin Salman’s meeting at World Cup’s opening match could reshape the global oil market. This month’s packed geopolitical calendar has another key date – a meeting between Vladimir Putin, the Russian president, and Mohammed bin Salman, the powerful Saudi crown prince. The leaders will … Read moreWhy the Saudi-Russia Football Clash has Oil Market’s Attention

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A Solar Game-Changer for Nonprofits

June 7, 2018, by David Baldwin (Renewable Energy World) In a groundbreaking decision, the Los Angeles Department of Water and Power (LADWP), the largest municipal utility in the U.S., recently granted to CollectiveSun the right to market its proprietary Solar Purchase Agreement (SPA) in the LADWP service area. CollectiveSun is the only solar funding organization … Read moreA Solar Game-Changer for Nonprofits

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American Oil Fight to Heat Up as U.S. Keeps More for Itself

Jun 7, 2018, by Serene Cheong (Bloomberg) The U.S. is set to get a bit more possessive about its own oil, sparking a bidding war with eager buyers in the other side of the world. Asian refiners from China to Taiwan and Thailand have boosted purchases of American crude in recent months because it was … Read moreAmerican Oil Fight to Heat Up as U.S. Keeps More for Itself

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Five Things to Know in World Business Today

Jun 7, 2018, by Lorcan Roche Kelly (Bloomberg) G-6 + 1 French President Emmanuel Macron has joined Germany in warning that he will not sign a joint statement at this week’s G-7 leaders summit in Quebec unless the U.S. makes major concessions on trade, the Iran nuclear deal and the Paris climate accord. German Chancellor Angela Merkel … Read moreFive Things to Know in World Business Today

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Value of OPEC Petroleum Exports Jumps in 2017 After Oil Supply Cut

LONDON, June 7 (Reuters) – The value of OPEC members’ petroleum exports rose 28 percent in 2017, according to its annual statistical report, illustrating that its return to managing the oil market by cutting supplies boosted producers’ income. Exports from the Organization of the Petroleum Exporting Countries rose in value to $578.30 billion last year … Read moreValue of OPEC Petroleum Exports Jumps in 2017 After Oil Supply Cut

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U.S. Subsidies May Not Save Some Coal, Nuclear Plants Slated for Closure

June 6, 2018 (Reuters) – Several major U.S. operators of nuclear reactors and coal plants said they had not changed plans to close plants in coming years, even after the White House said it would take emergency steps to subsidize struggling operators. U.S. President Donald Trump last week directed Energy Secretary Rick Perry to take … Read moreU.S. Subsidies May Not Save Some Coal, Nuclear Plants Slated for Closure

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Factbox: Assets on the Block in the Mining Sector

FILE PHOTO: Heavy earth moving equipment work clearing an area at the new Suncor Fort Hills oil sands mining operations near Fort McMurray, Alberta, Canada, September 17, 2014. REUTERS/Todd Korol/File Photo

June 6, 2018 (Reuters) – Big mining companies, restored to health following the 2015-16 crash, are seeking to rationalize their portfolios and acquire assets in line with heightened focus on the best quality minerals and anticipated demand for battery materials. But so far activity is sluggish and the focus has been on smaller deals after … Read moreFactbox: Assets on the Block in the Mining Sector

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U.S. Crude Stocks Unexpectedly Build Despite High Refining Rates: EIA

Pipeline Oil Storage

June 6, 2018, by David Gaffen (Reuters) – U.S. crude oil stockpiles rose unexpectedly last week even as refineries hiked output to the highest in five months, while gasoline stocks increased sharply as demand eased, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.1 million barrels in the week to June 1, … Read moreU.S. Crude Stocks Unexpectedly Build Despite High Refining Rates: EIA

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Oil Demand Could Keep Growing Until 2050 in Conflict-Ridden World: Equinor

FILE PHOTO: A logo of Equinor, formerly known as Statoil, is seen at the company's headquarters in Fornebu, Norway May 21, 2018. REUTERS/Nerijus Adomaitis

June 6, 2018 OSLO (Reuters) – Global oil demand could peak in the early 2020s if countries pull together to hit climate goals, or keep growing until 2050 in a conflict-ridden world, according to Norwegian oil and gas firm Equinor. Expectations for when oil demand will peak could change the supply dynamics, as investors weigh … Read moreOil Demand Could Keep Growing Until 2050 in Conflict-Ridden World: Equinor

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Trump’s Move to Please Farmers on Biofuels Reform Draws Refinery Union Ire

A fuel nozzle from a bio diesel fuel pump is seen in this photo illustration taken at a filling station in San Diego, California January 8, 2015. REUTERS/Mike Blake

June 6, 2018, by Jarret Renshaw and Chris Prentice (Reuters) – U.S. President Donald Trump, in yielding to pressure from farming states and agreeing to suspend changes to U.S. biofuel policy is now being criticized by another important constituency, the main union for oil refinery workers. The United Steelworkers, the largest industrial union in North … Read moreTrump’s Move to Please Farmers on Biofuels Reform Draws Refinery Union Ire

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Venezuela Frees Chevron Executives Held Since April

June 6, 2018, by Corina Pons and Marianna Parraga CARACAS/HOUSTON (Reuters) – Venezuela has released two local executives of U.S. oil major Chevron Corp jailed since mid-April during a corruption probe in the oil sector, authorities and the company said on Wednesday. The arrests of Carlos Algarra and Rene Vasquez by intelligence agents at Chevron’s … Read moreVenezuela Frees Chevron Executives Held Since April

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Oil Majors to Bid on Choice Stakes in Brazil’s Offshore

An offshore oil platform is seen in Huntington Beach, California

June 6, 2018, by Alexandra Alper and Marta Nogueira RIO DE JANEIRO (Reuters) – Executives from oil majors were set to gather in Rio de Janeiro on Thursday to compete for stakes in Brazil’s pre-salt oil play, home to some of the world’s most alluring offshore geology, as rising oil prices boost appetite for expensive … Read moreOil Majors to Bid on Choice Stakes in Brazil’s Offshore

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Billions in U.S. Solar Projects Shelved After Trump Panel Tariff

Solar Panels

June 6, 2018, by Nichola Groom (Reuters) – President Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs, the developers told Reuters. That’s more than double the about $1 billion in new … Read moreBillions in U.S. Solar Projects Shelved After Trump Panel Tariff

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Oil Boom Bottlenecks Are Costing U.S. Investors $1 Billion a Day

Jun 6, 2018, by David Wethe, Alex Nussbaum and Ryan Collins (Bloomberg) More than $1 billion a day. That’s the price tag for a Permian Basin pipeline crunch that’s increasingly affecting investors as much as it is West Texas oil drillers. Eight of the top explorers focused on the booming U.S. shale region have lost … Read moreOil Boom Bottlenecks Are Costing U.S. Investors $1 Billion a Day

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U.S. Oil Exports Jump to Record 1.76 Million Bpd in April: Census Data

June 6, 2018 NEW YORK (Reuters) – U.S. crude exports surged to a record 1.76 million barrels per day (bpd) in April from 1.67 million bpd in March thanks to the rising discount for U.S. crude versus the global benchmark, foreign trade data from the U.S. Census Bureau showed on Wednesday. Most of the increase … Read moreU.S. Oil Exports Jump to Record 1.76 Million Bpd in April: Census Data

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Three Looming Crises That Could Rattle Oil Markets: Michael Dempsey

June 6, 2018, by Michael Dempsey (Bloomberg Opinion)  Crude oil prices have risen by nearly half over the last year, driven by OPEC-led production cuts and strong international demand. Yet in the next few months, it’s the confluence of several emerging geopolitical crises that may drive prices even higher. In the aftermath of the White … Read moreThree Looming Crises That Could Rattle Oil Markets: Michael Dempsey

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Devon Energy Monetizes Interests in EnLink Midstream, Increases Share-Repurchase Program to $4 Billion

OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corp. (NYSE: DVN) announced today it has entered into an agreement to sell its aggregate ownership interests in EnLink Midstream Partners, LP (NYSE: ENLK) and EnLink Midstream, LLC (NYSE: ENLC) to an affiliate of Global Infrastructure Partners (GIP), a leading global, independent infrastructure fund manager for $3.125 billion. In conjunction with … Read moreDevon Energy Monetizes Interests in EnLink Midstream, Increases Share-Repurchase Program to $4 Billion

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B&W Announces Agreement to Sell MEGTEC and Universal

CHARLOTTE, N.C.–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced that it had signed a definitive agreement to sell its MEGTEC and Universal businesses to Dürr AG (“Dürr”) for $130 million, subject to adjustment. Proceeds from the transaction will largely be used to reduce outstanding balances under the Company’s bank credit facilities, improving its balance … Read moreB&W Announces Agreement to Sell MEGTEC and Universal

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ExxonMobil Completes Purchase of Carcara Oil Field Interest

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said today it has completed the purchase of half of Equinor’s interest in the BM-S-8 block offshore Brazil, which contains part of the 2-billion-barrel, pre-salt Carcara oil field. “The Carcara oil field is an excellent example of the quality resources to be found offshore Brazil,” said Brad Corson, president of ExxonMobil Upstream … Read moreExxonMobil Completes Purchase of Carcara Oil Field Interest

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COLUMN-Saudis Signal Satisfaction with Current Crude Oil Prices, Volumes: Russell

Saudi Refinery

(The opinions expressed here are those of the author, a columnist for Reuters.) By Clyde Russell LAUNCESTON, Australia, June 6 (Reuters) – Saudi Arabia’s decision to increase the price of oil for July modestly for its major customers in Asia was a business-as-usual outcome, rather than any signal that the kingdom intends to produce and … Read moreCOLUMN-Saudis Signal Satisfaction with Current Crude Oil Prices, Volumes: Russell

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Trump Administration Biofuels Deal Delayed Indefinitely

Biodiesel

June 5, 2018 (Reuters) – The Trump administration has indefinitely delayed a proposed overhaul of U.S. biofuels policy aimed at reducing costs for the oil industry, under pressure from corn state lawmakers who worry the move would undermine demand for ethanol, according to two sources familiar with the matter. The White House had been poised … Read moreTrump Administration Biofuels Deal Delayed Indefinitely

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U.S. Shale Country Dangles 100% Pay Raises as Labor Market Runs Dry

Jun 6, 2018, by David Wethe (Bloomberg) Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted … Read moreU.S. Shale Country Dangles 100% Pay Raises as Labor Market Runs Dry

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Europe Seeks Exemption From U.S. Sanctions as Iran Deal Teeters

Jun 6, 2018, 2:06:08 AM, by Gregory Viscusi (Bloomberg) Three European countries and the European Union are seeking exemptions from U.S. sanctions on Iran in a sign that the bloc’s bid to hold the landmark nuclear deal together may be in trouble. “As allies, we expect that the U.S. will refrain from taking action to … Read moreEurope Seeks Exemption From U.S. Sanctions as Iran Deal Teeters

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America’s Wells, Mines and Farms Targeted by China Trade Offer

Jun 5, 2018, by Bloomberg News (Bloomberg) American crude drillers, coal miners and farmers are set to be among the beneficiaries of the Trump Administration’s trade pressure on China. China has offered to boost purchases of American goods by about $25 billion this year, showing particular willingness to step up imports of crude oil, coal … Read moreAmerica’s Wells, Mines and Farms Targeted by China Trade Offer

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Five Things to Know in World Business Today

Jun 6, 2018, by Lorcan Roche Kelly (Bloomberg) Horse trading China and the U.S. are continuing to try to knock together a trade deal ahead of a deadline later this month that would see the imposition of tariffs on Chinese imports to America should no accord be reached. Coal miners, farmers and oil-drillers would be … Read moreFive Things to Know in World Business Today

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Russia’s Novak Says Demand Should Determine Oil Deal Easing

June 5, 2018 VIENNA (Reuters) – Russian Energy Minister Alexander Novak said on Tuesday that oil demand should determine how OPEC and non-OPEC countries should adjust a current deal on oil output curbs. The Organization of the Petroleum Exporting Countries and other oil producers led by Russia will convene in Vienna on June 22-23 to … Read moreRussia’s Novak Says Demand Should Determine Oil Deal Easing

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Trans Alaska Line Will Shut Three Times for Maintenance in Summer

ANCHORAGE, Alaska, June 5 (Reuters) – The Trans-Alaska Pipeline will shut down three times this summer for scheduled maintenance, starting with a planned half-day shutdown on June 15, the system’s operator said. Alyeska Pipeline Service Co, the consortium that operates the 800-mile oil line that delivers oil from the North Slope to Alyeska’s marine terminal … Read moreTrans Alaska Line Will Shut Three Times for Maintenance in Summer

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