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Five Things to Know in World Business Today

World Business

By Samuel Potter Jun 20, 2019 (Bloomberg) The dust settles post-Powell, central banks of England and Japan take a turn, and trouble in the Middle East. Here are some of the things people in markets are talking about today. The morning after Jerome Powell’s patience has run out, apparently. Possibly with President Donald Trump, with the … Read moreFive Things to Know in World Business Today

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Oil Surges After Iran Downs U.S. Drone and Fed Signals Rate Cut

Oil Prices Up

By Sharon Cho and Grant Smith Jun 19, 2019 (Bloomberg) Oil rose after Iran said it shot down a U.S. spy drone in its airspace, stoking Middle East tensions further after the attack on two tankers last week, while a more dovish stance from the Federal Reserve lifted financial markets. Futures climbed as much as … Read moreOil Surges After Iran Downs U.S. Drone and Fed Signals Rate Cut

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Trudeau’s Crude Pipeline Set to Start Shipping Oil by 2022

By Kevin Orland and Robert Tuttle Jun 19, 2019 (Bloomberg) The oil pipeline that Canadian Prime Minister Justin Trudeau’s government approved on Tuesday is slated to start shipping crude as early as 2022 and cost more than C$7.4 billion ($5.6 billion) after legal delays hampered the construction process.The Trans Mountain expansion, which would carry 590,000 more … Read moreTrudeau’s Crude Pipeline Set to Start Shipping Oil by 2022

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OPEC’s Top 3 Put Group on Track to Extend Oil Cuts in July

Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader

By Mahmoud Habboush and Grant Smith Jun 19, 2019 (Bloomberg) OPEC is poised to extend oil-output cuts for the rest of the year when its members meet next month to assess supply and demand for crude.Saudi Arabia, Iraq and the United Arab Emirates — the group’s three biggest members — all want to keep restraining … Read moreOPEC’s Top 3 Put Group on Track to Extend Oil Cuts in July

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Chisholm Oil and Gas, LLC and Gastar Exploration LLC Announce Strategic Combination to Create the Leading STACK E&P Company

June 19, 2019 TULSA, Okla. & HOUSTON–(BUSINESS WIRE)–Chisholm Oil and Gas, LLC (“Chisholm”) of Tulsa, Oklahoma and Gastar Exploration LLC (“Gastar”) of Houston, Texas announced today that they have entered into definitive agreements to effect a merger between the two companies. The combined company, which will operate under the name Chisholm Oil and Gas and … Read moreChisholm Oil and Gas, LLC and Gastar Exploration LLC Announce Strategic Combination to Create the Leading STACK E&P Company

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Roan Resources, Inc. Announces Commitments for a $100 Million Term Loan Facility and Reaffirmation of the $750 Million Borrowing Base

June 19, 2019 Business Wire OKLAHOMA CITY–(BUSINESS WIRE)–Roan Resources, Inc. (NYSE: ROAN) (“Roan” or the “Company”) today announced it has received commitments for a $100 million term loan facility from funds affiliated with certain significant shareholders of the Company that are represented on the board of directors. Borrowings under the term loan facility are expected to … Read moreRoan Resources, Inc. Announces Commitments for a $100 Million Term Loan Facility and Reaffirmation of the $750 Million Borrowing Base

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Development Capital Resources Announces $165 Million Development Joint Venture in the Permian Basin

Backed by funds managed by Ares Management Corporation LOS ANGELES & HOUSTON & MIDLAND, Texas–(BUSINESS WIRE)–Development Capital Resources, LLC (DCR) announced today that a DCR-managed subsidiary, capitalized by funds managed by affiliates of Ares Management Corporation (NYSE:ARES), has entered into a drilling and development joint venture with a private operator in the Permian Basin. The … Read moreDevelopment Capital Resources Announces $165 Million Development Joint Venture in the Permian Basin

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Five Things to Know About World Business Today

World Business

By Samuel Potter Jun 19, 2019 (Bloomberg) It’s Fed day, Trump-Xi trade meet is on, and Britain edges closer to a new leader. Here are some of the things people in markets are talking about today. Powell’s still here Despite the wishes of a certain person in the White House, Jerome Powell is still very much in … Read moreFive Things to Know About World Business Today

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New York Passes Its Own Green New Deal With Aggressive Targets

By Keshia Clukey Jun 18, 2019, 10:44 pm – Updated on Jun 19, 2019, 3:01 am (Bloomberg) —New York’s Senate has passed the state’s own version of the Green New Deal — a climate bill that will set the most aggressive clean energy target in the country, more than triple the state’s solar capacity and unleash wind power off … Read moreNew York Passes Its Own Green New Deal With Aggressive Targets

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Oil Steady as OPEC+ Sets Meeting Date and Trade Talks Revive

Red Oil Barrels

By Rakteem Katakey and Sharon Cho Jun 18, 2019 (Bloomberg) Oil held steady in New York after rising the most in more than five months as OPEC set a date for its next meeting after a month of bickering, and the U.S. and China signaled trade talks would resume.Futures were little changed after climbing 3.8% … Read moreOil Steady as OPEC+ Sets Meeting Date and Trade Talks Revive

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Iraq Rocket Explodes Near Exxon Oil Field Workers’ Camp

By Khalid Al-Ansary and Kadhim Ajrash Jun 18, 2019 (Bloomberg)A rocket attack near an Exxon Mobil Corp. workers’ camp in southern Iraq had no effect on oil fields or exports, according to a person with knowledge of the matter. It wasn’t immediately clear whether Exxon’s operations were the target, the person said, asking not to … Read moreIraq Rocket Explodes Near Exxon Oil Field Workers’ Camp

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Oil Demand Growth Estimates Lurching Ever Lower

By Julian Lee Jun 19, 2019 (Bloomberg) Global oil demand growth is slowing. That is the view of all three major oil forecasting organisations, who have cut their assessments for what they expect in terms of an increase in crude consumption this year. The latest outlooks from the International Energy Agency, the U.S. Energy Information Administration and the Organisation … Read moreOil Demand Growth Estimates Lurching Ever Lower

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Green Plains Announces Proposed Private Offering of $100 Million Aggregate Principal Amount of Convertible Senior Notes

June 18, 2019  | Source: Green Plains Inc. OMAHA, Neb., June 18, 2019 (GLOBE NEWSWIRE) — Green Plains Inc. (NASDAQ:GPRE) today announced that it intends to offer $100 million aggregate principal amount of convertible senior notes due 2024 in a private placement to qualified institutional buyers (as defined in Rule 144A under the Securities Act of … Read moreGreen Plains Announces Proposed Private Offering of $100 Million Aggregate Principal Amount of Convertible Senior Notes

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Profire Energy Announces the Acquisition of Millstream Energy Products

Purchase Enhances PFIE’s Burner Management System Solutions June 18, 2019 17:00 ET | Source: Profire Energy, Inc. LINDON, Utah, June 18, 2019 (GLOBE NEWSWIRE) — Profire Energy, Inc. (NASDAQ: PFIE), a technology company (“Profire Energy” or the “Company”) which creates, installs and services burner and chemical management solutions in the oil and gas industry, today announced that … Read moreProfire Energy Announces the Acquisition of Millstream Energy Products

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Legacy Reserves Inc. Files For Chapter 11 Protection To Facilitate Negotiated Financial Restructuring

June 18, 2019 MIDLAND, Texas, June 18, 2019 /PRNewswire/ — Legacy Reserves Inc. (NASDAQ: LGCY) (“Legacy”) announced today that it has, together with its subsidiaries (collectively, the “Company”), commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), pursuant to the terms of the … Read moreLegacy Reserves Inc. Files For Chapter 11 Protection To Facilitate Negotiated Financial Restructuring

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Canadian crude Gulf Coast exports rise as Venezuelan gap is filled

June 18, 2019 Reuters Heavy crudes have poured into the United States this spring, offsetting the loss of Venezuelan oil and producing a mini-surplus, with Canadian heavy crude this month being exported from the U.S. Gulf Coast. U.S. refiners have lined up larger supplies from Canada, Iraq and Colombia since Washington in January began choking off … Read moreCanadian crude Gulf Coast exports rise as Venezuelan gap is filled

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EQT Issues Statement

June 18, 2019 Business Wire PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today issued the following statement in response to a presentation issued by the Toby Rice Group: Nothing in Toby Rice’s latest presentation changes the fact that since EQT’s new management team was appointed late last year, the Company has: significantly improved EQT’s operational efficiency, such that … Read moreEQT Issues Statement

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SM Energy Raises Production Guidance And Provides Updated New Well Results

June 18, 2019 PR Newswire DENVER, June 18, 2019 /PRNewswire/ — SM Energy Company (the “Company”) (NYSE: SM) today announces that second quarter 2019 production is exceeding expectations and the Company is raising guidance for second quarter and full year production volumes by 0.4 MMBoe, at the mid-point, due to better than expected well performance and completion timing. … Read moreSM Energy Raises Production Guidance And Provides Updated New Well Results

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Siemens to Cut 2,700 Jobs at Energy Unit Due for Listing

 Jun 18, 2019 (Bloomberg) Siemens AG said it will cut 2,700 jobs at its power and gas division, part of a sweeping overhaul announced last month to spin off the embattled business. The reductions, representing about 4% of the unit’s workforce, will take place over several years, mainly at engineering, procurement and construction projects, as … Read moreSiemens to Cut 2,700 Jobs at Energy Unit Due for Listing

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Oil Steadies as Demand Worries Weighed Against OPEC+ Output Cuts

By Heesu Lee and Alex Longley Updated on Jun 18, 2019 (Bloomberg)Oil traded near $52 as the European Central Bank said it may pump more stimulusinto the region’s economy and OPEC and its allies made progress in setting a date to discuss an extension to supply cuts. Futures erased losses of as much as 0.8% in … Read moreOil Steadies as Demand Worries Weighed Against OPEC+ Output Cuts

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Five Things to Know About World Business Today

World Business

By Samuel Potter Jun 18, 2019 (Bloomberg) The Fed meets after some soft data, tensions simmer in a series of global hot spots, and Airbus is dominating in Paris. Here are some of the things people in markets are talking about today. Central bank-fest They aren’t the biggest data points, but the numbers released on Monday … Read moreFive Things to Know About World Business Today

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An Obscure Hydrocarbon Contains Bad News for Global Economy

By Prejula Prem and Jack Wittels Jun 18, 2019 (Bloomberg) An obscure product made by oil refineries has a grim story to tell investors right now about the fortunes of the global economy. That product is naphtha, something used to make a vast array of goods while also being integral to churning out gasoline. Oil … Read moreAn Obscure Hydrocarbon Contains Bad News for Global Economy

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Trump to Swap Obama’s ‘Clean Power Plan’ for Modest Upgrades

By Jennifer A. Dlouhy Jun 18, 2019 (Bloomberg) The Trump administration is on track to obliterate former President Barack Obama’s signature plan for combating climate change by replacing sweeping curbs on power plant emissions with requirements for modest upgrades at the sites. The Environmental Protection Agency is set to unveil its rewrite of the Clean … Read moreTrump to Swap Obama’s ‘Clean Power Plan’ for Modest Upgrades

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OPEC+ Proposes Mid-July Meeting to Settle Dispute Over Dates

By Golnar Motevalli, Grant Smith and Salma El Wardany Updated on Jun 18, 2019 (Bloomberg) OPEC proposed mid-July meetings with its allies in Vienna to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.The oil producers group, which pumps more than half the world’s … Read moreOPEC+ Proposes Mid-July Meeting to Settle Dispute Over Dates

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The World Will Get Half Its Power From Wind and Solar by 2050

By Millicent Dent and Christopher Martin Jun 18, 2019 (Bloomberg) Nearly half the world’s electricity will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plummet. That titanic shift over the next three decades will come as electricity demand increases 62% and investors pump $13.3 trillion into new … Read moreThe World Will Get Half Its Power From Wind and Solar by 2050

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EQT Provides Preliminary Second Quarter 2019 Financial and Operational Results and Announces Additional Savings under Target 10% Initiative

June 17, 2019 Business Wire Second Quarter Sales Volumes Expected to be at High End of Guidance Range Operational Efficiencies Expected to Drive Incremental $25 Million Reduction in Annual Capital Expenditures Incremental Savings Bring Total Annual Cost Savings Identified by EQT’s New Management Team since November 2018 to $175 Million Capital Expenditure Reductions Raise Expected 2019 … Read moreEQT Provides Preliminary Second Quarter 2019 Financial and Operational Results and Announces Additional Savings under Target 10% Initiative

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Williams Completes Formation of US$3.8 Billion Strategic Joint Venture Partnership with Canada Pension Plan Investment Board in the Marcellus/Utica Basins

June 17, 2019 Business Wire Strategic partnership between Williams and CPPIB supports ongoing growth and Northeast region optimization Williams receives approximately $1.33 billion in exchange for a 35% interest in a combined Utica East Ohio Midstream-Ohio Valley Midstream joint venture TULSA, Okla.–(BUSINESS WIRE)–Williams (NYSE: WMB) today announced the completion of the formation of a US$3.8 billion … Read moreWilliams Completes Formation of US$3.8 Billion Strategic Joint Venture Partnership with Canada Pension Plan Investment Board in the Marcellus/Utica Basins

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Ulterra Brings Matrix Drill Bit Manufacturing to Canada with the Expansion of their Canadian Manufacturing Facility

Ulterra-Drilling-Technologies-400x270

Leduc, Alberta, Canada Ulterra Drilling Technologies, one of the world’s fastest growing suppliers of PDC drill bits for the oil and gas industry, has expanded their manufacturing facility in Leduc, Alberta, Canada. The addition of this facility is part of Ulterra’s overall strategy to increase manufacturing capabilities by 70% worldwide. The expansion involves the former … Read moreUlterra Brings Matrix Drill Bit Manufacturing to Canada with the Expansion of their Canadian Manufacturing Facility

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G-20 Energy Ministers Highlight Security After Tanker Attacks

Jun 16, 2019 by Tsuyoshi Inajima (Bloomberg) G-20 energy ministers who met in Japan over the weekend highlighted the importance of energy security in a communique issued at the end of the conference, just days after two tankers were attacked near the Strait of Hormuz.“In light of recent developments highlighting concerns about energy security, the G20 Energy Ministers acknowledge … Read moreG-20 Energy Ministers Highlight Security After Tanker Attacks

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Five Thing to Know in World Business Today

World Business

Jun 17, 2019 by Samuel Potter (Bloomberg) Trade and policy battle for investor attention, 2 million people flood the streets of Hong Kong, and it’s the Paris Air Show. Here are some of the things people in markets are talking about today. Trade vs. central bankers With rate decisions in the U.S., the U.K. and Japan this … Read moreFive Thing to Know in World Business Today

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Saudi Arabia Hopes to Extend OPEC+ Production Cuts by Early July

Jun 16, 2019 by Tsuyoshi Inajima (Bloomberg) Saudi Arabia hopes OPEC and its allies will agree to extend oil production cuts into the second half of the year at a meeting that will probably take place in the first week of July, according to the country’s energy minister.“We are hoping that we will reach consensus to extend … Read moreSaudi Arabia Hopes to Extend OPEC+ Production Cuts by Early July

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Southern Energy Corp. Announces Closing of Strategic Asset Acquisition in the Southern United States and $8.1 Million Convertible Debenture Financing

June 14, 2019 CNW CALGARY, June 14, 2019 /CNW Telbec/ – Southern Energy Corp. (“Southern” or the “Company“) (TSXV: SOU) has completed its previously announced acquisition of high quality, low decline natural gas assets (the “Assets“) in the State of Mississippi for cash consideration of US$16.5 million ($22.0 million), subject to customary adjustments (the “Acquisition“). “We are happy to announce the closing of this … Read moreSouthern Energy Corp. Announces Closing of Strategic Asset Acquisition in the Southern United States and $8.1 Million Convertible Debenture Financing

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Oil prices rise after tanker attacks stoke Middle East tensions

June 17, 2019 Reuters Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week. U.S. West Texas Intermediate (WTI) crude futures were up 17 cents, or 0.3%, at $52.68 a … Read moreOil prices rise after tanker attacks stoke Middle East tensions

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Using Videos to Reignite Sales Leads – Kicker Video

By: Mary Croft  Kicker Video:   Cold leads are an unfortunate reality in this business climate.  Leads in the energy business can grow cold because the potential client or customer is losing interest, because they are busy, because they are considering the competition, or for any of a number of other reasons. There are a … Read moreUsing Videos to Reignite Sales Leads – Kicker Video

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WEBINAR: Efficient management of remote assets with Intelligent Visual Monitoring exception-based alerting

Osprey Logo - December 2018 Update Feature

This webinar presentation will provide concrete examples of how Oil & Gas companies in the US can manage their remote assets through exception-based alerting, thus accelerating cost savings and increasing efficiencies while mitigating safety and environmental risks. We will present client focused use cases that have proven to help organizations manage multiple assets through a … Read moreWEBINAR: Efficient management of remote assets with Intelligent Visual Monitoring exception-based alerting

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U.S. oil drillers cut rigs for second week in a row

June 17, 2019 U.S. energy firms reduced the number of oil rigs operating for a second week in a row, with the country’s production growth expected to slow as crude prices dropped close to their lowest levels of the year and most drillers cut spending. Drillers cut one oil rig in the week to June … Read moreU.S. oil drillers cut rigs for second week in a row

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Riviera Resources Announces Intention to Commence Tender Offer at a Premium

June 14, 2019 Globe Newswire HOUSTON, June 13, 2019 (GLOBE NEWSWIRE) — Riviera Resources, Inc. (OTCQX: RVRA) (“Riviera” or the “Company”) today announced it intends to commence a tender offer to purchase for cash up to an aggregate of $40 million of shares of its common stock at a premium to current market price no later … Read moreRiviera Resources Announces Intention to Commence Tender Offer at a Premium

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Crude Posts Weekly Decline as Demand Fears Blunt Tanker Attacks

Jun 13, 2019 by Rita Devlin Marier (Bloomberg) Oil posted a weekly decline as the escalating U.S.-China trade war and swelling American stockpiles overshadowed tanker attacks in the Middle East.Futures settled up 0.4% in New York on Friday but still closed the week down 2.7%. London-traded contracts slid for a fourth straight week. The White House blamed Iran for … Read moreCrude Posts Weekly Decline as Demand Fears Blunt Tanker Attacks

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Oil Driller Parsley Says It’s ‘Attractive’ for Any Purchaser

Jun 14, 2019 by Stephen Cunningham (Bloomberg) Parsley Energy Inc. said it would be “attractive” for any potential buyer as the U.S. shale driller expects to generate positive free cash flow in the back half of this year. “We are attractive for purchasers whatever type of investor it is,” Chief Executive Officer Matt Gallagher said … Read moreOil Driller Parsley Says It’s ‘Attractive’ for Any Purchaser

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Five Things to Know in World Business Today

World Business

Jun 14, 2019 by Samuel Potter (Bloomberg) Trouble with Tehran, companies lobby Trump on tariffs, and a new era for White House communications. Here are some of the things people in markets are talking about today. Risky business Given all the angst over trade and growth coursing through financial markets, a sudden uptick in geopolitical tensions is ill-timed, … Read moreFive Things to Know in World Business Today

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Why the Fed Shouldn’t Cut Interest Rates Now

US Whitehouse

Jun 14, 2019  by Narayana Kocherlakota (Bloomberg Opinion) The outlook for the U.S. economy has recently darkened, with worries about trade wars and consumer demand weighing on overall confidence. As a result, many observers — including me — are expecting the U.S. Federal Reserve to provide some stimulus, by lowering interest rates as much as half … Read moreWhy the Fed Shouldn’t Cut Interest Rates Now

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Oil Supply to Swamp Demand, Squeeze OPEC in 2020, IEA Says

Jun 14, 2019, 2:00 am, by Grant Smith (Bloomberg) Global oil supplies will increase far more than demand next year with the start of a host of new projects, putting further pressure on the OPEC cartel, the International Energy Agency said. Even though growth in world oil demand will accelerate to 1.4 million barrels a day … Read moreOil Supply to Swamp Demand, Squeeze OPEC in 2020, IEA Says

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Oil Set for Weekly Loss as Demand Fears Eclipse Mideast Tension

 by Heesu Lee and Grant Smith (Bloomberg) Oil headed for a weekly decline as the tanker attacks in the Middle East were overshadowed by a deepening trade war and swelling U.S. stockpiles.Futures slipped in New York on Friday and were poised for a 3.4% weekly loss. The White House blamed Iran for the attacks near the Strait of … Read moreOil Set for Weekly Loss as Demand Fears Eclipse Mideast Tension

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As Oil Tankers Burn in Gulf, Investors Focus on Trade War

Oil Tanker

Jun 13, 2019  by Javier Blas (Bloomberg) For bulls and bears with long memories, the oil market may seem a lot like 1991. Nearly three decades ago, U.S. forces had just launched the “Desert Storm” operation to liberate Kuwait from Iraq, and oil tankers navigating the region were fearful of retaliatory attacks from Saddam Hussein’s forces. … Read moreAs Oil Tankers Burn in Gulf, Investors Focus on Trade War

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Hydrogen Is the Fuel of the Future. For Real This Time, IEA Says

Jun 14, 2019 by Dan Murtaugh (Bloomberg) Hydrogen, which has been touted as the fuel of the future much of the past five decades, may finally be on the verge of converting its potential to reality.Governments, automakers and even oil and gas giants are part of a growing coalition pushing a larger role for the … Read moreHydrogen Is the Fuel of the Future. For Real This Time, IEA Says

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U.S., Canada, Brazil Oil Output Nearly Doubles in Last Decade

Jun 13, 2019 by Alex Tanzi and Wei Lu (Bloomberg) —From 2008 to 2018 the amount of oil produced by the U.S, Canada and Brazil almost doubled. These three countries now produce roughly one quarter of the world’s oil, according to BP’s annual Statistical Review of World Energy 2019.The U.S. alone in this time has more … Read moreU.S., Canada, Brazil Oil Output Nearly Doubles in Last Decade

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Legacy Reserves Inc. Reaches Third Forbearance Agreement With RBL And Second Lien Lenders

June 13, 2019 PR Newswire MIDLAND, Texas, June 13, 2019 /PRNewswire/ — Legacy Reserves Inc. (NASDAQ: LGCY) (“Legacy”, and collectively with its subsidiaries, the “Company”) announced today that the Company has entered into third forbearance agreements (the “Third Forbearance Agreements”) with its lenders under its reserve based revolving credit facility (“RBL Lenders”) and its lenders under its … Read moreLegacy Reserves Inc. Reaches Third Forbearance Agreement With RBL And Second Lien Lenders

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Callon Petroleum Company Announces Closing Of Southern Midland Basin Divestiture And Updates 2019 Guidance

June 13, 20194 PR Newswire HOUSTON, June 13, 2019 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon” or “we” or “our”) announced today that it closed on the previously announced divestiture of non-core assets in the southern Midland Basin to Sequitur Permian, LLC for net cash proceeds of $245 million, subject to customary post-closing adjustments. Net cash proceeds were adjusted for … Read moreCallon Petroleum Company Announces Closing Of Southern Midland Basin Divestiture And Updates 2019 Guidance

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Five Things to Know About World Business Today

World Business

Jun 13, 2019 by Samuel Potter (Bloomberg) Trump is picking more fights, oil’s roller coaster week, and a lull in Hong Kong. Here are some of the things people in markets are talking about today. Combative Trump Fresh from a bust-up with Mexico and still mired in disputes with the likes of China and Iran, Donald Trump upped his criticism of Germany … Read moreFive Things to Know About World Business Today

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OPEC Warns That Trade Tensions Are Hurting Global Oil Demand

 Jun 13, 2019  by Grant Smith (Bloomberg) OPEC said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead. The organization, due to meet in the coming weeks to set production levels for the second half, said demand increased by less than 1 … Read moreOPEC Warns That Trade Tensions Are Hurting Global Oil Demand

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Stocks Drop Across the Gulf as Oil Tankers Incident Fuels Risk

Crude Oil Shipments In The Persian Gulf

Jun 13, 2019 by Dana El Baltaji and Abeer Abu Omar (Bloomberg) Every major stock index in the Gulf retreated after an incident in the Sea of Oman threatened to inflame the already tense relationship Iran has with its neighbors. Bonds also fell. The benchmark equity indexes in Dubai, Kuwait, Riyadh, Muscat and Doha fell 1% or … Read moreStocks Drop Across the Gulf as Oil Tankers Incident Fuels Risk

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Trump’s Jab at Russia Gas Pipe Shows Fight for Market Share

Jun 13, 2019 by Vanessa Dezem, Mathew Carr and Anna Shiryaevskaya (Bloomberg) President Donald Trump’s threat to sanction Russia’s controversial new natural gas pipeline into Europe is an indication that competition to supply the fuel is heating up. Blocking the Nord Stream 2 link under the Baltic Sea would be a blow to Russia, keeping … Read moreTrump’s Jab at Russia Gas Pipe Shows Fight for Market Share

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Solar Has New Way to Duck Trump’s Tariffs: Two-Sided Panels

Solar panel

Jun 12, 2019 by Ari Natter and Jim Efstathiou Jr. (Bloomberg) The solar industry has a new way of ducking the Trump administration’s tariffs on its imports: two-sided panels.The U.S. Trade Representative said in a notice made public Wednesday that it’s granting an exemption to solar duties for bifacial panels, ones that can generate power … Read moreSolar Has New Way to Duck Trump’s Tariffs: Two-Sided Panels

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Oil Surges as Tankers in Gulf Suffer Another Suspected Attack

Jun 12, 2019 by Heesu Lee and Grant Smith (Bloomberg) Oil rebounded from the lowest in almost five months as two tankers were damaged in a suspected attack in the Gulf of Oman, just weeks after a previous incident in the region.Brent crude soared as much as 4.5% following reports of an assault on ships near the … Read moreOil Surges as Tankers in Gulf Suffer Another Suspected Attack

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Saving the World Might Mean Accepting Slower Growth

Jun 13, 2019, 5:00 am, by Mark Buchanan (Bloomberg Opinion) Economists teach us that resources don’t just run out. As something becomes scarcer, its price rises, triggering a search for new supplies or the discovery of substitutes. We’ve seen it happen over the past two decades in the oil market, as dwindling reserves triggered the U.S. boom in … Read moreSaving the World Might Mean Accepting Slower Growth

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Antero Resources Announces Appointment of Benjamin A. Hardesty as Lead Director and the Resignations of Peter R. Kagan and James R. Levy from the Board of Directors

June 12, 2019 Newswire DENVER, June 12, 2019 /PRNewswire/ — Antero Resources (NYSE: AR) (“Antero Resources” or the “Company”) announced today the appointment of Benjamin A. Hardesty as Lead Director.  The Company also announced that Peter R. Kagan and James R. Levy have resigned from the board of directors of Antero Resources (the “Board”) effective immediately.  Mr. Kagan and Mr. Levy are both Partners at Warburg … Read moreAntero Resources Announces Appointment of Benjamin A. Hardesty as Lead Director and the Resignations of Peter R. Kagan and James R. Levy from the Board of Directors

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NuStar Energy L.P. Announces Binding Open Season for Expansion of Its Valley Pipeline System

June 12, 2019 Business Wire Project to Double Pipeline Capacity of NuStar’s Valley Pipeline System As Part of Effort to Supply Refined Products to Northern Mexico NuStar Has Secured Significant Customer Commitments, Enough to Proceed With Project, Now Seeking Additional Customer Interest SAN ANTONIO–(BUSINESS WIRE)–NuStar Energy L.P. (NYSE: NS) announced today the start of its Binding … Read moreNuStar Energy L.P. Announces Binding Open Season for Expansion of Its Valley Pipeline System

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TC Energy completes U.S.- Mexico Sur de Texas pipeline

June 12, 2019 Reuters Canadian energy company TC Energy Corp completed the $2.5 billion Sur de Texas pipeline from Texas to Mexico. The project is part of the biggest gas pipe between Mexico and the United States and will increase Mexico’s capacity to import cheap U.S. gas by about 40 percent, TC Energy said on … Read moreTC Energy completes U.S.- Mexico Sur de Texas pipeline

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Oil Demand Signals Are Flashing Red as Price Dives Toward $50

Jun 12, 2019 by Alex Longley and Julian Lee (Bloomberg) Oil demand is shriveling as the trade war between the U.S. and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit … Read moreOil Demand Signals Are Flashing Red as Price Dives Toward $50

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Oil falls over 2% on weaker demand growth, gain in U.S. crude stocks

June 12, 2019 Reuters Oil prices fell more than 2% on Wednesday, weighed down by a weaker demand outlook and a rise in U.S. crude inventories despite expectations of extended supply cuts led by OPEC. U.S. West Texas Intermediate crude futures were down $1.56, or 2.93%, at $51.71. The U.S. Energy Information Administration (EIA) cut its … Read moreOil falls over 2% on weaker demand growth, gain in U.S. crude stocks

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EQT Highlights its Purpose-Built Board; EQT’s Nominees Have the Right Mix of Skills and Experience to Oversee the Company’s Continued Success

June 12, 2019 Business Wire Letter to Shareholders Details Conflicts of the Toby Rice Group Nominees, and Underscores that They Lack the Independence, Experience and Qualifications to Advance EQT’s Progress Shareholders Encouraged to Vote TODAY “FOR” All 12 of EQT’s Highly Experienced Nominees on the GOLD Universal Proxy Card PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE:EQT) today mailed … Read moreEQT Highlights its Purpose-Built Board; EQT’s Nominees Have the Right Mix of Skills and Experience to Oversee the Company’s Continued Success

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VAALCO Energy, Inc. Appoints New Chief Accounting Officer and Controller

June 11, 2019 Globe Newswire HOUSTON, June 11, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY) today announced the appointment of Jason Doornik as VAALCO’s Chief Accounting Officer and Controller effective June 6, 2019. Elizabeth Prochnow, the Company’s Chief Financial Officer, will relinquish her prior role as the Chief Accounting Officer and Controller. Mr. Doornik … Read moreVAALCO Energy, Inc. Appoints New Chief Accounting Officer and Controller

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Legacy Reserves Inc. Reaches Agreement With RBL And Second Lien Lenders On Terms Of Financial Restructuring

June 11, 2019 PR Newswire MIDLAND, Texas, June 11, 2019 /PRNewswire/ — Legacy Reserves Inc. (NASDAQ: LGCY) (“Legacy”, and collectively with its subsidiaries, the “Company”) announced today that its board of directors has approved, and the Company has executed, a restructuring support agreement (the “Restructuring Agreement”) with its lenders under its reserve based revolving credit facility (“RBL Lenders”) … Read moreLegacy Reserves Inc. Reaches Agreement With RBL And Second Lien Lenders On Terms Of Financial Restructuring

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Environmentalists: Offshore drilling rule changes dangerous

NEW ORLEANS — Ten environmental groups are suing to challenge what they view as the Trump administration’s decision to weaken critical safety rules created after the nation’s worst offshore drilling disaster. The rule changes announced in March will make oil and gas exploration and development off the Pacific, Atlantic, Alaska, and Gulf coasts “significantly more … Read moreEnvironmentalists: Offshore drilling rule changes dangerous

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Musk Tells Tesla Shareholders Consumer Demand Not a Problem

Jun 11, 2019 by Dana Hull (Bloomberg) Tesla Inc. Chief Executive Officer Elon Musk dismissed concerns about demand for his company’s trademark electric vehicles, telling shareholders at the company’s annual meeting Tuesday that sales this quarter could hit record levels.Tesla has said it expects to deliver 90,000 to 100,000 cars in the second quarter, but … Read moreMusk Tells Tesla Shareholders Consumer Demand Not a Problem

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$1.6B pipeline proposed to move North Dakota crude oil

Gas Pipeline

BISMARCK, N.D. — Two companies are proposing a $1.6 billion pipeline to move North Dakota crude oil, making it the biggest such project in the state since the Dakota Access pipeline that sparked violent clashes between protesters and law enforcement in 2016 and 2017. Houston-based Phillips 66 and Casper, Wyoming-based Bridger Pipeline announced the joint … Read more$1.6B pipeline proposed to move North Dakota crude oil

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Oil’s Next Great Deflationary Force: Taxes

Jun 11, 2019 by Liam Denning (Bloomberg Opinion) —In a commodity business, cost is king. The efficient producer ultimately wins more business and more investment – and that is as true for countries as it is for companies.The shale boom, along with slowing energy demand growth in much of the industrialized world, has changed the global oil and … Read moreOil’s Next Great Deflationary Force: Taxes

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Five Things to Know in World Business Today

World Business

Jun 12, 2019 (Bloomberg) Hong Kong simmers, trade war is all about Trump, and Boris kicks off his campaign. Here are some of the things people in markets are talking about today. Hong Kong on edge Protesters are blocking major roads in downtown Hong Kong, and they have vowed to stay until the government withdraws controversial legislation that would for the … Read moreFive Things to Know in World Business Today

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Five Things to Know in World Business Today

World Business

Jun 11, 2019  by Samuel Potter (Bloomberg) G-20 getting even more important, China makes policy moves, and for some reason 10 people want to be the U.K. Prime Minister. Here are some of the things people in markets are talking about today. G-20 countdown If the G-20 confab wasn’t already marked on investor calendars with a big … Read moreFive Things to Know in World Business Today

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Five Things To Watch For at Tesla’s Annual Shareholders Meeting

Jun 11, 2019 by Dana Hull (Bloomberg)  Tesla Inc. investors will be more anxious than usual to get an update from Chief Executive Officer Elon Musk on Tuesday at the company’s annual meeting. With the stock down 36% for the year and concern about the pace of vehicle deliveries top of mind, Musk is likely … Read moreFive Things To Watch For at Tesla’s Annual Shareholders Meeting

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Oil Drops Below $54 as Global Recession, Supply Concerns Mount

Jun 10, 2019 by Rita Devlin Marier (Bloomberg) Oil closed down in New York for the first time in three days amid rising concerns about the likelihood of a global economic contraction and mounting supplies. U.S. crude has fallen about 18% from a peak in late April and volatility has jumped as deteriorating U.S.-China trade … Read moreOil Drops Below $54 as Global Recession, Supply Concerns Mount

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Gas Price Plunge Signals Greener Start for 2019 in U.S. and EU

Jun 10, 2019 by Mathew Carr and Vanessa Dezem (Bloomberg) Tumbling natural gas prices have set the power generation industries in the U.S. and Europe off to a greener start this year. Triggering the latest decline was a mild winter in Europe and China, which curbed demand at the same time as supplies were abundant, … Read moreGas Price Plunge Signals Greener Start for 2019 in U.S. and EU

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Goldman Sees Hard Path to OPEC+ Extension for Russia, Saudis

Jun 11, 2019 by Olga Tanas and Dina Khrennikova (Bloomberg) Uncertainty over oil supply and demand fundamentals is making it tougher for Russia and Saudi Arabia — the architects of the OPEC+ deal — to reconcile their differences over the framework for an extension of their output pact into the second half, according to Goldman … Read moreGoldman Sees Hard Path to OPEC+ Extension for Russia, Saudis

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Martin Midstream Partners L.P. Announces Sale of Natural Gas Storage Assets

June 10, 2019  | Source: Martin Midstream Partners L.P. KILGORE, Texas, June 10, 2019 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (“the Partnership”) (NASDAQ: MMLP) announced today that it has entered into a definitive agreement with Hartree Cardinal Gas, LLC, a subsidiary of Hartree Bulk Storage LLC, to sell its membership interests in Arcadia Gas Storage, LLC, … Read moreMartin Midstream Partners L.P. Announces Sale of Natural Gas Storage Assets

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Halcón Resources Names Richard Little Chief Executive Officer

June 10, 2019  | Source: Halcon Resources Corporation Houston, Texas, June 10, 2019 (GLOBE NEWSWIRE) — Halcón Resources, Inc. (“Halcón” or the “Company”) today announced that its Board of Directors has appointed Richard Little Chief Executive Officer effective June 11, 2019.  Mr. Little fills the CEO vacancy created in February.  James Christmas will continue to serve … Read moreHalcón Resources Names Richard Little Chief Executive Officer

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Rice Team Sends Letter to Fellow EQT Shareholders Setting the Record Straight on EQT’s Misleading Comments

June 10, 2019 Business Wire EQT Shareholders Urged to Not Be Misled by Mistruths and Let the Facts Speak for Themselves CARNEGIE, Pa.–(BUSINESS WIRE)–The Rice Team (Toby Z. Rice, Derek A. Rice, J. Kyle Derham and William E. Jordan), shareholders of EQT Corporation (NYSE: EQT), today sent a letter to EQT shareholders seeking to correct a … Read moreRice Team Sends Letter to Fellow EQT Shareholders Setting the Record Straight on EQT’s Misleading Comments

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Jerry Jones Likens Gas Deal to Dallas Cowboys Buy 30 Years Ago

 Jun 10, 2019, by Simon Casey and Rachel Adams-Heard (Bloomberg) Billionaire Dallas Cowboys owner Jerry Jones is expanding his natural gas empire at what looks like the worst possible time. Intentionally. Jones’s Comstock Resources Inc. announced plans Monday to acquire closely held gas rival Covey Park Energy LLC in a $1.1 billion cash-and-stock deal to … Read moreJerry Jones Likens Gas Deal to Dallas Cowboys Buy 30 Years Ago

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Five Things to Know in World Business Today

World Business

Jun 10, 2019 by Samuel Potter and Sid Verma (Bloomberg) – Trading fear for hope on trade, the power of central banks, and a dash of deal mania. Here are some of the things people in markets are talking about today. Trade President Donald Trump decided not to impose a 5% charge on all Mexican imports, accepting the country’s offer … Read moreFive Things to Know in World Business Today

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The Electric Bus Is ‘Close to Inevitable’: Q&A With Proterra’s CEO

Jun 10, 2019 by Brian Eckhouse (Bloomberg) There are a few hundred electric buses in the U.S.—and thousands still running on diesel. That gap doesn’t deter Ryan Popple, chief executive officer of Burlingame, California-based electric bus manufacturer Proterra Inc., from proclaiming a zero-emission future for American buses to be a sure bet. A big part of his pitch rests … Read moreThe Electric Bus Is ‘Close to Inevitable’: Q&A With Proterra’s CEO

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Russia Warns of Weakening Oil Even as It Holds Out on OPEC+ Deal

Jun 10, 2019 by Dina Khrennikova and Olga Tanas (Bloomberg) Saudi Arabia and Russia, the two largest producers in the OPEC+ coalition, voiced concerns that falling oil demand could send prices below $40 a barrel as they met in Moscow on Monday. The energy ministers of both countries have been at pains to stress a … Read moreRussia Warns of Weakening Oil Even as It Holds Out on OPEC+ Deal

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Oil Holds Near $54 on Saudi-Russia Supply Pledge and Rig Data

Jun 10, 2019by Heesu Lee and Alex Longley (Bloomberg) Oil steadied near $54 a barrel after Saudi Arabia said it could agree on plans for production with Russia at the G-20 summit this month. Futures traded 0.1% higher, after earlier adding as much as 1.6%. There’s almost unanimous agreement in OPEC to extend production cuts, … Read moreOil Holds Near $54 on Saudi-Russia Supply Pledge and Rig Data

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Russia May Be Testing U.S. Gas Nerve With Europe Push, Citi Says

Jun 10, 2019 by Stephen Stapczynski (Bloomberg) Russia’s strong natural gas shipments to Europe may be an attempt to test the resilience of U.S. exporters, according to Citigroup Inc. Shipments this year from Russia have helped boost European gas storage to near full capacity and exacerbated the region’s oversupply, the bank’s analysts including Ed Morse … Read moreRussia May Be Testing U.S. Gas Nerve With Europe Push, Citi Says

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Bulls Beware: The 2020 Oil Market Is Quickly Turning Ugly

Jun 9, 2019 by Javier Blas (Bloomberg) Oil bulls thought 2020 would be their year. After half a decade of lower spending on new projects, oil production growth was supposed to slow to a trickle just as demand was supercharged by a once-in-a-generation shake up in the shipping fuel market. Many market commentators predicted that … Read moreBulls Beware: The 2020 Oil Market Is Quickly Turning Ugly

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OPEC, the Future Is Probably Worse Than You Thought: Julian Lee

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

Jun 8, 2019 by Julian Lee (Bloomberg Opinion) – Saudi Arabia and Russia are on a collision course. On Friday the International Energy Agency will publish its first forecast of oil market balances in 2020. The headline figures will probably show stockpiles rising next year if the OPEC+ producer group doesn’t extend output cuts into a fourth year. … Read moreOPEC, the Future Is Probably Worse Than You Thought: Julian Lee

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Hi-Crush Inc. Initiates $25 Million Stock Repurchase Program

June 10, 2019  | Source: Hi-Crush Inc. HOUSTON, June 10, 2019 (GLOBE NEWSWIRE) — Hi-Crush Inc. (NYSE: HCR), “Hi-Crush” or the “Company”, today announced that the Board of Directors has approved a stock repurchase program of up to $25 million, effective immediately and authorized through June 30, 2020. “The Board authorized repurchase program and the recent … Read moreHi-Crush Inc. Initiates $25 Million Stock Repurchase Program

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Ultra Petroleum Corp. Announces Extension of Early Participation Date, Withdrawal Deadline and Expiration Date for Exchange Offer for 7.125% Senior Notes due 2025

June 10, 2019| Source: Ultra Petroleum Corp. ENGLEWOOD, Colo., June 10, 2019 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (NASDAQ: UPL) today announced that, with respect to the previously announced private offer to exchange (the “Exchange Offer”) outstanding 7.125% Senior Notes due 2025 (the “2025 Notes”) of its wholly owned subsidiary, Ultra Resources, … Read moreUltra Petroleum Corp. Announces Extension of Early Participation Date, Withdrawal Deadline and Expiration Date for Exchange Offer for 7.125% Senior Notes due 2025

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Comstock Resources to Become Haynesville Basin Leader with Acquisition of Covey Park Energy for $2.2 Billion

June 10, 2019 | Source: Comstock Resources, Inc. Frisco, TX, June 10, 2019 (GLOBE NEWSWIRE) — COMSTOCK RESOURCES TO BECOME HAYNESVILLE BASIN LEADER WITH ACQUISITION OF COVEY PARK ENERGY FOR $2.2 BILLION Creates Haynesville Basin leader with 1.1 Bcfe of net daily production and 2,000 net drilling locations Jerry Jones to invest $475 million bringing his total … Read moreComstock Resources to Become Haynesville Basin Leader with Acquisition of Covey Park Energy for $2.2 Billion

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Baker Hughes Announces May 2019 Rig Counts

June 7, 2019 Business Wire The Baker Hughes International Rig Count now includes active drilling rigs in Ukraine HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for May 2019 was 1,126, up 64 from the 1,062 counted in April 2019, and up 159 from the 967 … Read moreBaker Hughes Announces May 2019 Rig Counts

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U.S. oil rig count falls to lowest since Feb 2018

Drilling Rig pipes

June 9, 2019 Reuters U.S. energy firms this week cut the oil rig count to the lowest since February 2018 as drillers follow through on plans to reduce spending with crude prices collapsing to a four-month low.Drillers cut 11 oil rigs in the week to June 7 in the biggest weekly decline since April, bringing the … Read moreU.S. oil rig count falls to lowest since Feb 2018

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Oil Closes Week on Rebound as Saudis, Russia Pledge Coordination

Jun 7, 2019 by Alex Nussbaum and Grant Smith (Bloomberg) Oil ended a tumultuous week on the upswing after Saudi Arabia and Russia reiterated their commitment to averting a global supply glut and U.S. President Donald Trump declared progress in his standoff with Mexico. Futures in New York gained 2.7% on Friday, just two days … Read moreOil Closes Week on Rebound as Saudis, Russia Pledge Coordination

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Five Things to Know in World Business Today

World Business

Jun 7, 2019 by Lorcan Roche Kelly (Bloomberg) It’s jobs day, no breakthrough on Mexico and China prepared for worsening trade war. Here are some of the things people in markets are talking about today. Payrolls Today’s employment numbers are hotly anticipated after the surprisingly bad ADP data released on Wednesday showed May was the worst … Read moreFive Things to Know in World Business Today

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Saudis Sure of OPEC+ Cuts Extension After Talks With Russia

Saudi Energy Minister Khaled al-Falih and Russian Energy Minister Alexander Novak. Photo: AMER HILABI/AFP/Getty Images

Jun 7, 2019 by Annmarie Hordern, Dina Khrennikova and Olga Tanas (Bloomberg) Saudi Arabia’s top oil official said he was sure that OPEC+ will extend production cuts into the second half of the year after holding talks with Russia. Ministers from the countries voiced similar concerns about the impact of a slowing global economy on … Read moreSaudis Sure of OPEC+ Cuts Extension After Talks With Russia

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A 24-Million Barrel Question: Where Is All the Missing U.S. Oil?

Oil Tanker in U.S.

Jun 6, 2019 by Catherine Ngai (Bloomberg) Oil traders and analysts closely watching weekly U.S. inventory figures have been scratching their heads in the last few weeks wondering one thing: Where are the missing barrels? U.S. Energy Information Administration data Wednesday showed a crude supply adjustment factor — the difference between reported stockpiles and those … Read moreA 24-Million Barrel Question: Where Is All the Missing U.S. Oil?

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U.S. Targets Venezuelan Oil Blending With Latest Restrictions

Jun 7, 2019 by Fabiola Zerpa and Peter Millard (Bloomberg) The U.S. is stepping up efforts to cripple Venezuela’s oil industry, this time by targeting the petrochemicals the country’s state-owned oil company needs to keep its crude exports flowing. The U.S. Treasury’s Office of Foreign Assets Control said Thursday in a notice that sanctions on … Read moreU.S. Targets Venezuelan Oil Blending With Latest Restrictions

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Oil Rebound Continues as Saudis and Russia Pledge Coordination

Oil Prices Up

Jun 7, 2019 by Saket Sundria and Grant Smith (Bloomberg) Oil continued its rebound, heading for the biggest two-day gain since April, as Saudi Arabia and Russia reiterated their commitment to working together to keep the market balanced. Futures in New York advanced 1.4%, bringing their increase over two days to more than 3.2% after … Read moreOil Rebound Continues as Saudis and Russia Pledge Coordination

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Lilis Energy Announces Appointment of David M. Wood as Chairman upon Retirement of Ron Ormand as CEO and Chairman

June 6, 2019 Globe Newswire HOUSTON, June 06, 2019 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas and southeastern New Mexico, today announced that Ron Ormand, currently Chairman of the Board of Directors (“Board”) and Chief Executive Officer (“CEO”), has notified … Read moreLilis Energy Announces Appointment of David M. Wood as Chairman upon Retirement of Ron Ormand as CEO and Chairman

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Sunset for Oil Is No Longer Green-Tinted Talk: David Fickling

Jun 5, 2019 by David Fickling (Bloomberg Opinion) Greenwashed rhetoric is such a staple of the oil industry that it’s easy to assume every energy executive talking about climate and the transition to a zero-carbon economy is just mouthing words. Barely a year after BP Plc Chief Executive Officer John Browne promised “action and solutions” on … Read moreSunset for Oil Is No Longer Green-Tinted Talk: David Fickling

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Trump Backers in Oil Patch Join Farmers in Fight Against Tariffs – Higher Gas Prices

gas pumps

Jun 6, 2019 by Jennifer A. Dlouhy (Bloomberg) U.S. oil companies are frantically lobbying congressional allies and the White House against President Donald Trump’s plan to slap escalating tariffs on Mexican exports, saying it would hike the price of gasoline and strain refiners reliant on crude from the country. The oil industry’s pushback adds to … Read moreTrump Backers in Oil Patch Join Farmers in Fight Against Tariffs – Higher Gas Prices

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Five Things to Know in World Business Today

World Business

Jun 5, 2019 by Sam Unsted (Bloomberg) Good morning. The European Central Bank will announce its interest rate decision, markets will continue pondering the direction of Federal Reserve policy and Fiat Chrysler and Renault’s merger plans are in tatters. Here’s what’s moving markets. ECB Day In a week when the central bank policy outlook has … Read moreFive Things to Know in World Business Today

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Tillerson Says Exxon `Probably Paid Too Much’ for XTO Energy

Jun 5, 2019 by Kevin Crowley and Tina Davis (Bloomberg) Rex Tillerson has some regrets about Exxon Mobil Corp.’s $31 billion purchase of XTO Energy Inc. “We probably paid too much,” Tillerson, who served as chief executive officer of the company during the deal, said Wednesday at a conference in Houston sponsored by KPMG LLP. … Read moreTillerson Says Exxon `Probably Paid Too Much’ for XTO Energy

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Oil Rises After Slump Into Bear Market on Swelling U.S. Supply

Jun 6, 2019 by Saket Sundria and Grant Smith (Bloomberg) Oil gained in New York and London, in a modest recovery after sinking into a bear market on Wednesday amid ballooning U.S. crude inventories and signs that demand is faltering. Futures in New York edged 1% higher after settling 3.4% lower in the previous session. … Read moreOil Rises After Slump Into Bear Market on Swelling U.S. Supply

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In Quest for Bigger Batteries, California Mulls Century-Old Idea

Jun 6, 2019 by David R. Baker (Bloomberg) As the sun sets on California’s solar farms, a backup energy source deep in the Sierra Nevada Mountains springs to life. The huge system of reservoirs and turbines can store energy during the day and then crank out electricity for 900,000 homes, using just water and gravity. … Read moreIn Quest for Bigger Batteries, California Mulls Century-Old Idea

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Putin Highlights Differences With Saudis as OPEC+ Decision Looms

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

Jun 6, 2019 by Dina Khrennikova, Olga Tanas and Rosalind Mathieson (Bloomberg) A year ago, in the enduring twilight of one of St. Petersburg’s famous “white nights” of summer, Saudi Arabia and Russia reached an agreement that set a new direction for the oil market. This time around, President Vladimir Putin has emphasized the differences … Read morePutin Highlights Differences With Saudis as OPEC+ Decision Looms

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Camber Energy, Inc. Announces That It Has Regained Compliance with All NYSE American Continued Listing Standards

June 5, 2019 Accesswire HOUSTON, TX / ACCESSWIRE / June 5, 2019 / Camber Energy, Inc. (NYSE American: CEI) (the “Company” or “Camber”), based in Houston, Texas, today announced that on June 4, 2019, it received a letter from the NYSE American advising the Company that it had regained compliance with all of the NYSE American … Read moreCamber Energy, Inc. Announces That It Has Regained Compliance with All NYSE American Continued Listing Standards

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Apache Corporation Announces Cash Tender Offers for up to $1.0 Billion in Aggregate Purchase Price of Senior Notes

June 05, 2019  | Source: Apache Corporation HOUSTON, June 05, 2019 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, NASDAQ: APA) today announced the commencement of tender offers (each, an “Offer” and, collectively, the “Offers”) to purchase up to $1.0 billion in aggregate purchase price (excluding accrued and unpaid interest and excluding fees and expenses) (as such amount … Read moreApache Corporation Announces Cash Tender Offers for up to $1.0 Billion in Aggregate Purchase Price of Senior Notes

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Democrats Try to Outdo One Another on Climate: Balance of Power

Jun 5, 2019 by Kathleen Hunter (Bloomberg) Democrats seeking to unseat Donald Trump see an opportunity in the U.S. president’s refusal to embrace scientific evidence that man-made climate change would have devastating effects. With voters increasingly tuned in to the environment, the party’s 2020 presidential candidates are proposing solutions that would have been viewed as politically … Read moreDemocrats Try to Outdo One Another on Climate: Balance of Power

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Abraxas Announces Upcoming Conference Participation and Closing of Non-Op Bakken Sale

June 4, 2019 Business Wire SAN ANTONIO–(BUSINESS WIRE)–Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ: AXAS) today announced that the Company’s management will participate in the upcoming Stifel 2019 Cross Sector Insight Conference, June 10-12th in Boston, MA. The Company is scheduled to present on Monday June 10 at 8:00 AM Eastern Time. Separately, Abraxas recently closed on … Read moreAbraxas Announces Upcoming Conference Participation and Closing of Non-Op Bakken Sale

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Five Things to Know in World Business Today

World Business

Jun 5, 2019 by Lorcan Roche Kelly (Bloomberg) Powell triggers stock rebound, Trump says he’s not bluffing on Mexico tariffs, and China ups pressure on the U.S. Here are some of the things people in markets are talking about today. Rally time? Yesterday’s more than 2% gain in the S&P 500 Index, driven by what was seen … Read moreFive Things to Know in World Business Today

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Plastic-Trash Crackdown Threatens Oil Giants’ Chemical Lifeline

Jun 5, 2019 by Jack Kaskey (Bloomberg) As the world strives to wean itself off fossil fuels, oil companies have been turning to plastic as the key to their future. Now even that’s looking overly optimistic.The global crackdown on plastic trash threatens to take a big chunk out of demand growth just as oil companies … Read morePlastic-Trash Crackdown Threatens Oil Giants’ Chemical Lifeline

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Building Boom Shows Biggest U.S. Oil Hub Hasn’t Lost Its Allure

Jun 5, 2019 by Sheela Tobben (Bloomberg) America’s largest oil hub in Cushing, Oklahoma, is growing even as producers and traders look to move surging West Texas production to the coast for export. The U.S. petroleum industry is planning to build about 4.8 million barrels of storage capacity and as many as seven new pipelines … Read moreBuilding Boom Shows Biggest U.S. Oil Hub Hasn’t Lost Its Allure

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Oil Drops as U.S. Stockpiles Rise While Trade War Hurts Demand

 Jun 5, 2019 by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil fell again on signs that U.S. crude inventories jumped last week, worrying investors that supplies are swelling at the same time a trade war threatens demand. Futures slipped as much as 1.3% in New York to trade under $53 a barrel, not far from … Read moreOil Drops as U.S. Stockpiles Rise While Trade War Hurts Demand

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Rare Earths Battle Looms as U.S. Aims to Counter China Threat

Jun 5, 2019 by Bloomberg News (Bloomberg) The U.S. and China are heading for a stand-off over critical minerals used in everything from washing machines to military hardware. The U.S. Commerce Department on Tuesday promised “unprecedented action” to ensure that the U.S. won’t be cut off from supplies rare earths, a group of 17 obscure … Read moreRare Earths Battle Looms as U.S. Aims to Counter China Threat

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Resource Energy LLC Announces Acquisition in the Bakken Play

June 4, 2019 Business Wire DENVER–(BUSINESS WIRE)–Resource Energy Can-Am LLC (“Resource Energy”) announced today that it has purchased assets operated by an undisclosed seller in the Bakken Play in Divide County, North Dakota. Under the terms of the agreement, Resource Energy purchased assets including 19 wells, 750 net BOEPD and proved producing net reserves of 2.2 MMBOE. The … Read moreResource Energy LLC Announces Acquisition in the Bakken Play

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Five Things to Know in World Business Today

World Business

Jun 4, 2019 by Lorcan Roche Kelly (Bloomberg) Bond market screaming for a rate cut, weak European data, and China travel warning. Here are some of the things people in markets are talking about today. Powell up Bond investors are positioned for at least two Federal Reserve rate cuts by the end of the year. St. Louis … Read moreFive Things to Know in World Business Today

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China Moves to Stop a Crash in Booming Electric-Car Industry

 Jun 4, 2019, 3:21:57 AM, by Bloomberg News (Bloomberg) As big as its car market is, China has decided that its 486 aspiring electric-vehicle companies are too many. The country is considering rules to raise the barrier to entry for electric-vehicle makers and nurture fewer but more competitive players, according to people familiar with the … Read moreChina Moves to Stop a Crash in Booming Electric-Car Industry

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Oil Trades Near Four-Month Low Amid OPEC Cuts, Economy Concerns

Jun 4, 2019 by Grant Smith and Tsuyoshi Inajima (Bloomberg) Oil held near the lowest in more than four months in London, as expectations that OPEC will continue to restrain supplies tempered concerns that threats to the global economy will hurt demand. Brent crude futures traded below $61 a barrel, paring some of Monday’s losses … Read moreOil Trades Near Four-Month Low Amid OPEC Cuts, Economy Concerns

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Minnesota court rules environmental assessment for Enbridge pipeline inadequate

June 3, 2019 Reuters A Minnesota court ruled on Monday that Enbridge Inc’s final environmental impact statement for its Line 3 replacement project is inadequate, raising the possibility the Canadian crude oil pipeline could face further delays. The Line 3 replacement project would ship 760,000 barrels per day of Canadian crude from Alberta to Wisconsin, doubling … Read moreMinnesota court rules environmental assessment for Enbridge pipeline inadequate

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Shell Promises Significant Increase in Returns to Investors 

Jun 4, 2019 by Kelly Gilblom (Bloomberg) Royal Dutch Shell Plc plans to shower its investors in money, pledging returns of $125 billion between 2021 and 2025 — twice as much as a decade earlier. The oil and gas major says it can pull off this feat with crude at $60 a barrel and only … Read moreShell Promises Significant Increase in Returns to Investors 

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Biden Promises 100% Clean Energy, Net-Zero Emissions by 2050

Jun 4, 2019 by Ari Natter (Bloomberg) Calling climate change “an existential threat,” Joe Biden, the front-runner in the Democratic presidential race, proposed achieving 100% clean energy and net-zero carbon emissions by 2050 as part of a $5 trillion climate plan that would be paid for by undoing President Donald Trump’s signature tax cuts. Biden … Read moreBiden Promises 100% Clean Energy, Net-Zero Emissions by 2050

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EQT Mails Letter to Shareholders, Highlighting Strong Financial and Operational Performance under the Company’s New Board and Management Team

June 3, 2019 Business Wire Urges Shareholders to Vote Today “FOR” All 12 of EQT’s Director Nominees on the GOLD Universal Proxy Card PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE:EQT) today announced that it has mailed a letter to shareholders reviewing the strong operational and financial performance delivered by the Company’s new Board of Directors and management team. EQT’s … Read moreEQT Mails Letter to Shareholders, Highlighting Strong Financial and Operational Performance under the Company’s New Board and Management Team

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Cheniere Announces Capital Allocation Framework, Makes Positive Final Investment Decision on Train 6 at the Sabine Pass Liquefaction Project, and Raises Run-Rate Production and Financial Guidance

June 3, 2019 Business Wire Capital allocation framework prioritizes reinvestment of available cash in growth capital projects, achievement of investment-grade credit metrics, and return of excess capital to shareholders $1.0 billion share repurchase authorization approved by Board of Directors Final Investment Decision reached on Sabine Pass Train 6 and Full Notice to Proceed issued to Bechtel … Read moreCheniere Announces Capital Allocation Framework, Makes Positive Final Investment Decision on Train 6 at the Sabine Pass Liquefaction Project, and Raises Run-Rate Production and Financial Guidance

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Murphy Oil Corporation Announces Close of Gulf of Mexico Acquisition and Provides Updated Guidance

June 3, 2019 Business Wire Accretive Cash Flow Generating Acquisition Increases Operatorship in the Region EL DORADO, Ark.–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE: MUR) (“Murphy”) announced that its wholly owned subsidiary, Murphy Exploration & Production Company – USA, has closed the previously announced strategic deep water Gulf of Mexico acquisition from LLOG Exploration Offshore, L.L.C. and LLOG … Read moreMurphy Oil Corporation Announces Close of Gulf of Mexico Acquisition and Provides Updated Guidance

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Denbury Enters Into Private Exchange Agreements and Announces Exchange Offers for Subordinated Notes Due 2021 and 2022 and Second Lien Notes Due 2024

June 03, 2019  | Source: Denbury Resources Inc. PLANO, Texas, June 03, 2019 (GLOBE NEWSWIRE) — Denbury Resources Inc. (NYSE: DNR) (“Denbury” or the “Company”) today announced that it has entered into private exchange agreements and has separately commenced exchange offers with respect to certain of its subordinated notes and its second lien notes due 2024. … Read moreDenbury Enters Into Private Exchange Agreements and Announces Exchange Offers for Subordinated Notes Due 2021 and 2022 and Second Lien Notes Due 2024

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Trump’s Mexican tariffs could hit U.S. refiners, add to fuel costs

Reuters U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of U.S. energy products.Mexico sends 600,000 to 700,000 barrels of oil to the United States … Read moreTrump’s Mexican tariffs could hit U.S. refiners, add to fuel costs

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U.S. drillers cut oil rigs for sixth straight month-Baker Hughes

Reuters U.S. energy firms last week increased the number of oil rigs operating for the first time in four weeks but cut the rig count for the sixth straight month as most drillers cut spending plans.Companies added three oil rigs in the week to May 31, bringing the total count to 800, General Electric Co’s … Read moreU.S. drillers cut oil rigs for sixth straight month-Baker Hughes

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Five Things to Know in World Business Today

World Business

Jun 3, 2019 by Cecile Gutscher and Joe Easton (Bloomberg) Trade war opens up on multiple fronts as Trump touches down in London and markets are getting more nervous. Here are some of the things people are talking about today. Excellent Adventure Donald Trump arrives in London but has already made his presence felt for days, dominating … Read moreFive Things to Know in World Business Today

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Ultra Petroleum Corp. Provides Operational Update, Reaffirms 2019 Production Guidance, Reduces 2019 Capital Investment Guidance and Announces Participation in Upcoming Investor Events

June 03, 2019 ET | Source: Ultra Petroleum Corp. ENGLEWOOD, Colo., June 03, 2019 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (NASDAQ: UPL) announced that it has released a rig and reduced its operated rig count in Pinedale from three to two. Production guidance for full-year 2019 remains unchanged at 240 to 250 … Read moreUltra Petroleum Corp. Provides Operational Update, Reaffirms 2019 Production Guidance, Reduces 2019 Capital Investment Guidance and Announces Participation in Upcoming Investor Events

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Oil Stabilizes After Rapid Slump Amid Fears of Global Trade War

 Jun 3, 2019 by Tsuyoshi Inajima (Bloomberg) Oil stabilized on Monday, giving traders a brief respite from the rapid slump driven by fears that increasingly aggressive U.S. trade policy could trigger an economic slowdown. Futures in New York rose 0.7%. While there was no repeat of the 5.5% slump seen on Friday, the trade war … Read moreOil Stabilizes After Rapid Slump Amid Fears of Global Trade War

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Saudi Arabia’s Economic Growth Seen Picking Up Again in 2019

Riyadh, Saudi Arabia

Jun 2, 2019 by Tarek El-Tablawy (Bloomberg) Saudi Arabia’s economic outlook is expected to improve further in 2019, although downside risks remain as a result of the global economic slowdown and the impact it could have on oil markets, the kingdom’s central bank said. The country’s economic growth recovered to 2.2% in 2018 after contracting … Read moreSaudi Arabia’s Economic Growth Seen Picking Up Again in 2019

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New York Braces for Solar Fight as Regulators Mull Monthly Fees

Jun 3, 2019 by Gerald Porter Jr. (Bloomberg) A battle over rooftop solar panels is brewing in New York. As regulators revamp the way utilities pay homeowners for the solar power they feed the grid, they’re mulling a monthly charge to support clean-energy and efficiency programs. It would amount to about $6 a month, but … Read moreNew York Braces for Solar Fight as Regulators Mull Monthly Fees

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Saudis Take Iran’s Oil-Market Share, Keeping OPEC Supply Steady

Jun 3, 2019 by Grant Smith (Bloomberg) Saudi Arabia ramped up oil production last month by the most this year, largely filling the gap created by tougher U.S. sanctions on its political rival, Iran. Iranian output plunged in May to the lowest since 1990 as the Trump administration threatened penalties for anyone trading with the … Read moreSaudis Take Iran’s Oil-Market Share, Keeping OPEC Supply Steady

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Osprey launches thermal condition monitoring solutions, including flare stack monitoring, for the Oil & Gas industry

Osprey Logo - December 2018 Update Feature

Osprey’s intelligent visual monitoring platform Osprey Reach paired with FLIR thermal cameras dramatically improves incident response and reporting. Our solutions for injection well leak detection, flare stack monitoring and storage tank venting detection are proven to deliver a strong return on investment, while also protecting the environment. Find out how you can protect your assets … Read moreOsprey launches thermal condition monitoring solutions, including flare stack monitoring, for the Oil & Gas industry

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Big Oil’s Message to Permian Strugglers: We Won’t Bail You Out

by Kevin Crowley (Bloomberg) Big Oil probably won’t be buying up the Permian Basin’s struggling independent drillers any time soon. Years of costly exploration and frantic buying sprees have gutted shareholder returns in the world’s largest shale basin. And management teams and their financial backers can’t count on shale-hungry, cash-rich supermajors to buy them out. … Read moreBig Oil’s Message to Permian Strugglers: We Won’t Bail You Out

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Crude Posts Worst May in Seven Years as Trade-War Anxiety Builds

May 31, 2019 by Alex Nussbaum and Grant Smith (Bloomberg) Oil posted its worst May performance in seven years as global trade tensions escalated, undermining the outlook for energy demand growth. Futures tumbled 5.5% in New York on Friday to a depth not seen in more than three months. Equities also plunged as investors deserted … Read moreCrude Posts Worst May in Seven Years as Trade-War Anxiety Builds

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Five Things to Know in World Business Today

World Business

May 31, 2019 by Lorcan Roche Kelly (Bloomberg) Trump hits Mexico with tariff threat, China plans “major” retaliation, and bonds reach new records. Here are some of the things people in markets are talking about today. Peso hit President Donald Trump said he will impose a 5% tariff on Mexican goods, taking effect on June 10, … Read moreFive Things to Know in World Business Today

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Oil Industry Poised to Attack as Trump Boosts Ethanol in Fuels

May 30, 2019 by Jennifer A. Dlouhy and Mario Parker (Bloomberg) Oil industry foes are preparing to go to court to fight an Environmental Protection Agency regulation allowing year-round sales of higher-ethanol E15 gasoline nationwide. The agency’s final rule, set to be released Friday, offers ethanol producers the promise of greater market access and demand … Read moreOil Industry Poised to Attack as Trump Boosts Ethanol in Fuels

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We All Need to Calm Down About Rare Earths: David Fickling

May 30, 2019 by David Fickling (Bloomberg Opinion) Once every decade or so, the world goes through a collective freak-out about rare earths. The suite of 17 elements strung toward the bottom of the periodic table are notable in that they’re essential in several high-technology applications such as wind turbines, electric cars and lasers, and largely … Read moreWe All Need to Calm Down About Rare Earths: David Fickling

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Is There Really a Global Shortage of Crude?: Oil Strategy

May 31, 2019 by Julian Lee (Bloomberg) From Russia to Saudi Arabia, Iran to Venezuela, the list of crude oil supplies being curtailed or disrupted around the world is growing longer by the month. This story examines whether the market’s biggest supply shifts are actually netting out into a global shortage of oil or not. … Read moreIs There Really a Global Shortage of Crude?: Oil Strategy

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Oil Heads for Biggest Monthly Slump This Year on Trade-War Fears

May 31, 2019 by Grant Smith (Bloomberg) Oil headed for its biggest monthly slump this year as fears that the U.S.-China trade war will hurt demand overshadowed concern over rising political tensions in the Persian Gulf. Futures slipped to the lowest in more than two months in New York and London on Friday. Trade friction … Read moreOil Heads for Biggest Monthly Slump This Year on Trade-War Fears

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Rattler Midstream LP, A Subsidiary of Diamondback Energy, Inc., Announces Full Exercise and Closing of Underwriters’ Over-Allotment Option

May 30, 2019 | Source: Rattler Midstream LP MIDLAND, Texas, May 30, 2019 (GLOBE NEWSWIRE) — Rattler Midstream LP (Nasdaq: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (Nasdaq: FANG) (“Diamondback”), and Diamondback today announced that underwriters of its underwritten initial public offering of 38,000,000 common units representing limited partnership interests in Rattler, which closed on … Read moreRattler Midstream LP, A Subsidiary of Diamondback Energy, Inc., Announces Full Exercise and Closing of Underwriters’ Over-Allotment Option

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Enbridge Statement on Future of Line 5 in Michigan

May 30, 2019 PR Newswire CALGARY, May 30, 2019 /PRNewswire/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today addressed statements made yesterday by the Michigan Attorney General and Governor about our joint efforts with the State on the proposed construction of an underground tunnel that would ultimately house a replacement of the existing Line 5 … Read moreEnbridge Statement on Future of Line 5 in Michigan

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Five Things to Know in World Business Today

World Business

May 30, 2019 by Lorcan Roche Kelly (Bloomberg) Second front in U.S. trade war opens, first-quarter GDP due, and bears ready for Uber earnings. Here are some of the things people in markets are talking about today. Europe next? Ten months after President Donald Trump and European Commission President Jean-Claude Juncker agreed a tariff truce very little progress … Read moreFive Things to Know in World Business Today

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Gasoline, TVs, Cars: The Surprising Things Rare Earths Help Make

May 30, 2019, by Lynn Doan and Will Wade (Bloomberg) Washing machines. Cars. Disk drives — if those are still a thing. The rare-earth minerals that China is threatening to withhold from the U.S. as a trade war escalates are more present in consumer products and manufacturing than people might think. Here are some of … Read moreGasoline, TVs, Cars: The Surprising Things Rare Earths Help Make

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U.S. First-Quarter Growth Revised Down to 3.1% Pace From 3.2%

May 30, 2019 by Reade Pickert (Bloomberg) U.S. economic growth last quarter was revised down by less than expected amid stronger consumption and exports than initially reported, suggesting the expansion was on relatively firm footing before President Donald Trump’s escalation of the trade war with China. Inflation-adjusted gross domestic product increased at a 3.1% annualized … Read moreU.S. First-Quarter Growth Revised Down to 3.1% Pace From 3.2%

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Oil Steadies as U.S. Inventory Drop Offsets Angst Over Trade War

May 30, 2019 by Grant Smith and Saket Sundria (Bloomberg) Oil was little changed as signs of tighter supplies in the U.S. offset concerns that the prolonged trade war between America and China will hurt demand. Futures in New York held below $59 a barrel, heading for a monthly loss. The American Petroleum Institute said … Read moreOil Steadies as U.S. Inventory Drop Offsets Angst Over Trade War

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Greenfields Petroleum Corporation Announces First Quarter 2019 Financial and Operating Results and Extension of Senior Secured Debt Payments

May 29, 2019 | Source: Greenfields Petroleum Corporatio HOUSTON, May 29, 2019 (GLOBE NEWSWIRE) — Greenfields Petroleum Corporation (the “Company” or “Greenfields”) (TSX VENTURE: GNF), a production focused company with operating assets in Azerbaijan, announces its financial and operating results for the three months ended March 31, 2019 and the extension of senior secured debt payments. Selected … Read moreGreenfields Petroleum Corporation Announces First Quarter 2019 Financial and Operating Results and Extension of Senior Secured Debt Payments

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5 Video Trends in Energy You Need to Know in 2019 – Kicker Video

By Mary Croft   Kicker Video   Video made a big splash in 2018 and it looks like 2019 will be even bigger. It’s ability to reach customers and convey messages has really come through this year. And, if you are like most oil and gas marketers, you are already looking at plans for next year. … Read more5 Video Trends in Energy You Need to Know in 2019 – Kicker Video

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Oil Trims Loss as Key U.S. Midwest Pipeline Seen Nearing Restart

May 29, 2019 by Alex Nussbaum (Bloomberg) Oil pared losses after hitting the lowest level since March as a key U.S. pipeline prepared to restart and an industry report was said to show a drop in American crude supplies. Futures closed the trading session down 0.6% after slumping as much as 3.8% in New York. … Read moreOil Trims Loss as Key U.S. Midwest Pipeline Seen Nearing Restart

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Fusion Production Systems Inc – Built to Last

Fusion Production Systems Logo 400x270

Fusion Production Systems Inc. is an integrated design & fabrication provider for oil and gas process equipment.  All our equipment is engineered, manufactured & tested at the highest level of precision and quality, it’s Built To Last! Driven by a strong commitment to technical design, quality control and planning, we strive to approach the industry’s … Read moreFusion Production Systems Inc – Built to Last

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Devon Energy Announces Strategic Exit of Canadian Business for CAD $3.8 Billion

May 29, 2019 Business Wire OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corp. (NYSE: DVN) today announced that it has entered into a definitive agreement to sell its Canadian business to Canadian Natural Resources Limited for CAD $3.8 billion, or USD $2.8 billion. This transaction is subject to customary terms and conditions and is expected to close by … Read moreDevon Energy Announces Strategic Exit of Canadian Business for CAD $3.8 Billion

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Five Things to Know in World Business Today

World Business

May 29, 2019 by Lorcan Roche Kelly (Bloomberg) The global bond rally is getting serious, China gears up to weaponize rare earths, and big moves in the commodity market. Here are some of the things people in markets are talking about today. 2% in sight Government bond yields across the world are tumbling again, with the U.S. … Read moreFive Things to Know in World Business Today

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Oil Slumps Below $58 as U.S.-China Trade Hostilities Escalate

May 29, 2019 by Saket Sundria and Grant Smith (Bloomberg) Oil slumped as escalating trade hostilities between the U.S. and China stoked fears of slowing global growth, overshadowing forecasts for a drop in American crude inventories. Futures in New York lost as much as 2.5% after rallying 2.1% since the close on Thursday following Chinese … Read moreOil Slumps Below $58 as U.S.-China Trade Hostilities Escalate

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Cimarex Announces Changes to its Board of Directors: Paul N. Eckley Joins Following the Retirement of David Hentschel

May 28, 2019 DENVER, May 28, 2019 /PRNewswire/ — Cimarex Energy Co. (NYSE: XEC) today announced the retirement of David A. Hentschel from its Board of Directors and the appointment of Paul N. Eckley as an independent director of Cimarex effective May 31, 2019. Mr. Eckley will be a member of the Compensation and Governance Committee. Cimarex Chairman, President and Chief Executive Officer, Tom … Read moreCimarex Announces Changes to its Board of Directors: Paul N. Eckley Joins Following the Retirement of David Hentschel

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Osprey Named Energy Excellence Awards Champion for Smart Well Site Surveillance

Osprey Logo - December 2018 Update Feature

Osprey Reach delivered top marks in the Energy Excellence Awards Digital Oilfield category. Osprey Reach is transforming the essentially “dumb” surveillance systems of the past, that required a set of human eyes to make effective, to “smart” systems able to distinguish out-of-the-ordinary events, from intruders or physical dangers to leaks and equipment breakdown, around the … Read moreOsprey Named Energy Excellence Awards Champion for Smart Well Site Surveillance

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REGISTER TO ATTEND THE GUYANA OIL & GAS AND ENERGY CONFERENCE: JUNE 27 & 28, 2019. CLICK HERE FOR THE DETAILS!

Guyana Oil and Gas Conference 2019

Training local professionals in oil & gas and energy business matters while providing a forum for marketing, networking, and relationship-building between international companies, local entities, and stakeholders. June 27 & 28, 2019 at the Pegasus Hotel in Georgetown, Guyana. Learn More Here Who should attend? Any entity or person participating in the oil & gas … Read moreREGISTER TO ATTEND THE GUYANA OIL & GAS AND ENERGY CONFERENCE: JUNE 27 & 28, 2019. CLICK HERE FOR THE DETAILS!

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Frackers Now Less Popular Than When Oil Was at $10: Liam Denning

May 28, 2019 by Liam Denning (Bloomberg Opinion) Christmas 1998 wasn’t a happy time in the oil business. The price of Brent crude had just dipped below $10 a barrel. Within a month or so, energy’s weighting in the S&P 500, already low, would sink to just above 5%. The world was thought to be … Read moreFrackers Now Less Popular Than When Oil Was at $10: Liam Denning

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Frank’s International N.V. Announces Chief Financial Officer Transition

May 28, 2019| Source: Frank’s International N.V. HOUSTON, May 28, 2019 (GLOBE NEWSWIRE) — Frank’s International N.V. (NYSE: FI) (the “Company” or “Frank’s”) today announced that Melissa Cougle has been named Chief Financial Officer (“CFO”), effective tomorrow. She succeeds Kyle McClure, who has decided to leave the Company to pursue other opportunities. Frank’s commented that Mr. … Read moreFrank’s International N.V. Announces Chief Financial Officer Transition

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Rattler Midstream LP, A Subsidiary of Diamondback Energy, Inc., Announces Closing of Initial Public Offering

May 28, 2019  | Source: Rattler Midstream LP MIDLAND, Texas, May 28, 2019 (GLOBE NEWSWIRE) — Rattler Midstream LP (Nasdaq: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (Nasdaq: FANG) (“Diamondback”), and Diamondback today announced the closing of Rattler’s previously announced initial public offering of 38,000,000 common units representing limited partner interests at a price to … Read moreRattler Midstream LP, A Subsidiary of Diamondback Energy, Inc., Announces Closing of Initial Public Offering

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Chaparral Energy Announces Robust Results from Recent Canadian County Spacing Tests

May 28, 2019  | Source: Chaparral Energy Inc OKLAHOMA CITY, May 28, 2019 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (NYSE: CHAP) today announced an operational update for its recent 11-well cube style, co-development Foraker spacing test, as well as its three-well Denali partial spacing test in Canadian County. The company also announced participation in several upcoming … Read moreChaparral Energy Announces Robust Results from Recent Canadian County Spacing Tests

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Occidental to sell parts of Anadarko after debt-fueled acquisition

May 28, 2019 HOUSTON (Reuters) – Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. It also quadrupled its debt – to $40 billion – at a time when investors are calling for spending cuts and higher … Read moreOccidental to sell parts of Anadarko after debt-fueled acquisition

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Fortem Resources Announces Amendments to Utah Property Purchase Agreements to Extend Payment Obligations and Acquire Additional Interest In Mancos Formation

May 28, 2019 PR Newswire VANCOUVER, May 28, 2019 /PRNewswire/ – Fortem Resources Inc. (TSXV: FTM; OTCQB: FTMR) (the “Company“) is pleased to announce that it has entered into two amending agreements which have the effect of postponing certain payments relating to its Utah property interests. Purchase and Sale Agreement – Black Dragon On May 16, 2019, but effective as of March 1, 2017, the Company’s … Read moreFortem Resources Announces Amendments to Utah Property Purchase Agreements to Extend Payment Obligations and Acquire Additional Interest In Mancos Formation

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Plains All American Announces Expansion and Joint Venture of Red River Pipeline with Delek Logistics

May 28, 2019  HOUSTON–(BUSINESS WIRE)–Plains All American Pipeline (NYSE: PAA) today announced a capital-efficient expansion and new joint venture of its existing Red River Pipeline system. Delek Logistics Partners, LP (NYSE: DKL) has purchased from a Plains’ subsidiary a 33% ownership interest in a new Red River Pipeline Company LLC joint venture for $128 million. Plains … Read morePlains All American Announces Expansion and Joint Venture of Red River Pipeline with Delek Logistics

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Delek Logistics and Delek US Announce Midstream Growth and Increased Crude Oil Flexibility

May 28, 2019 Globe Newswire Delek Logistics enters into Red River Pipeline Joint Venture Delek US increases direct access to Cushing sourced crude oil Delek US provides update on Krotz Springs operations BRENTWOOD, Tenn., May 28, 2019 (GLOBE NEWSWIRE) — Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) and Delek US Holdings, Inc. (NYSE: DK) (“Delek … Read moreDelek Logistics and Delek US Announce Midstream Growth and Increased Crude Oil Flexibility

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Venture Global LNG and Stonepeak Infrastructure Partners Announce $1.3 Billion Equity Investment in Calcasieu Pass LNG Export Facility

May 28, 2019 CNW ARLINGTON, Va., May 28, 2019 /CNW/ — Venture Global LNG, Inc. (“Venture Global”) and Stonepeak Infrastructure Partners (“Stonepeak”) jointly announce that they have executed definitive agreements under which Stonepeak will exclusively provide a $1.3 billion equity investment in Venture Global’s 10 million tonnes per annum (MTPA) Calcasieu Pass LNG export facility in Cameron Parish, Louisiana.  This brings total … Read moreVenture Global LNG and Stonepeak Infrastructure Partners Announce $1.3 Billion Equity Investment in Calcasieu Pass LNG Export Facility

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Brent Oil’s Rebound Fizzles as Trump Not Ready for Trade Deal

May 28, 2019 by Saket Sundria (Bloomberg) Brent crude traded around $70 a barrel as a two-day rebound petered out on signs the U.S. and China are still far from reaching a trade deal, while supply risks from the Persian Gulf to Venezuela kept investors wary. Futures in London were steady after rallying 3.5% over … Read moreBrent Oil’s Rebound Fizzles as Trump Not Ready for Trade Deal

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T.A. Cook
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Five Things to Know in World Business Today

May 28, 2019 by Lorcan Roche Kelly (Bloomberg) Trump not ready to cut a trade deal, EU and U.K. look to choose new leaders, and Alibaba weighs $20 billion Hong Kong offering. Here are some of the things people in markets are talking about today. Big in Japan President Donald Trump was in Japan for the … Read moreFive Things to Know in World Business Today

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T.A. Cook
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U.S. Refiners Face Summer Snags Amid Heavy Oil Shortage

May 28, 2019 by Sheela Tobben (Bloomberg) A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling heavy oil supplies have suppressed refining margins, while Midwest refiners may not reach the high run rates seen … Read moreU.S. Refiners Face Summer Snags Amid Heavy Oil Shortage

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Texas Money Reaches Corner of Canada’s Oil Patch as Majors Leave

May 28, 2019 by Robert Tuttle (Bloomberg) Texas money is flowing into a small corner of Canada’s oil sands at a time when big international companies are pulling out. Rangeland Energy, based in the Houston suburb of Sugar Land, is building a 50,000-barrel-a-day, 85 kilometer (53-mile) pipeline in the Marten Hills area of the Athabasca … Read moreTexas Money Reaches Corner of Canada’s Oil Patch as Majors Leave

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Exxon, Chevron to Face Climate Change Pressure From Investors

 May 28, 2019 by Kevin Crowley (Bloomberg) Exxon Mobil Corp. and Chevron Corp.’s unwillingness to venture beyond their core oil and gas business will face a test Wednesday when shareholders vote on climate change proposals at both oil companies’ annual meetings. The U.S. oil majors have typically enjoyed an easier ride from investors on environmental … Read moreExxon, Chevron to Face Climate Change Pressure From Investors

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PetroShale Announces Financial and Operating Results for First Quarter 2019 and Provides Operational Update

May 27, 2019 CNW CALGARY, May 27, 2019 /CNW/ – PetroShale Inc. (“PetroShale” or the “Company”) (TSXV: PSH, OTCQX: PSHIF) is pleased to announce our financial and operating results for the three month period ended March 31, 2019. The Company’s unaudited consolidated interim financial statements and corresponding Management’s Discussion and Analysis (MD&A) for the period will be available on SEDAR … Read morePetroShale Announces Financial and Operating Results for First Quarter 2019 and Provides Operational Update

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Pemex’s oil exports tumble 11% in April from March

May 27, 2019 Reuters MEXICO CITY (Reuters) – Pemex’s oil exports dropped by 11% in April compared to the previous month, while production slipped by 0.9%, data from the Mexican state oil firm showed on Friday. Exports of Maya crude, the only type Pemex has been selling abroad for almost a year, fell to 1.023 million … Read morePemex’s oil exports tumble 11% in April from March

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Oil Mostly Steady Amid Trump Comments on China Trade Deal, Iran

May 27, 2019 by Saket Sundria and Verity Ratcliffe (Bloomberg) U.S. oil held gains above $58 a barrel after American explorers reduced drilling activity to the lowest level in more than a year, even as President Donald Trump said Washington isn’t ready to make a trade deal with China. Futures in New York edged lower … Read moreOil Mostly Steady Amid Trump Comments on China Trade Deal, Iran

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U.S. Refiners Face Summertime Hurdles Amid Heavy Oil Shortage

by Sheela Tobben (Bloomberg)  A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling heavy oil supplies have suppressed refining margins, while Midwest refiners may not reach the high run rates seen last summer. Gulf … Read moreU.S. Refiners Face Summertime Hurdles Amid Heavy Oil Shortage

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Schlumberger Suffers Credit Hit as Oil Clients Stick to Cut

Schlumberger

 May 24, 2019 by David Wethe (Bloomberg) Schlumberger Ltd. had its debt rating lowered by S&P Global Inc. as belt-tightening in the U.S. shale patch translates into less drilling and fracking work for the world’s top oilfield services provider. The rating was cut a notch to A+, the fifth-highest invest grade, from AA-, S&P said … Read moreSchlumberger Suffers Credit Hit as Oil Clients Stick to Cut

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Five Things to Know in World Business Today

 by Andreea Papuc (Bloomberg) Results are trickling from the EU Parliament vote, stocks in Asia look like stabilizing amid the trade war, and Fiat Chrysler and Renault are said to be readying a tie-up. Here are some of the things people in markets are talking about today. EU Elections Mainstream European Union parties are mostly holding their … Read moreFive Things to Know in World Business Today

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U.S. oil drillers cut rigs for third week in a row -Baker Hughes

May 24 (Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as weaker oil prices encourage drillers to follow through on plans to cut spending. Drillers cut five oil rigs in the week to May 24, bringing the total count down to 797, … Read moreU.S. oil drillers cut rigs for third week in a row -Baker Hughes

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Five Things to Know in World Business Today

May 24, 2019 by Lorcan Roche Kelly (Bloomberg) Theresa May announces her resignation, Trump administration may have more tariff targets, and oil’s having a bad week. Here are some of the things people in markets are talking about today. May over (in June) British Prime Minister Theresa May announced that she will step down as Conservative … Read moreFive Things to Know in World Business Today

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Oil Pares Biggest Weekly Loss of 2019 as Supply, Trade Fears Mix

May 24, 2019 by Grant Smith and Tsuyoshi Inajima (Bloomberg) Oil rose, paring its biggest weekly loss of the year, as signs that global crude markets are tightening jostled with fears that the U.S.-China trade feud will hurt fuel demand. Futures plunged 5.7% in New York on Thursday as investors fled riskier assets following the … Read moreOil Pares Biggest Weekly Loss of 2019 as Supply, Trade Fears Mix

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Russia’s Dirty Oil Crisis Is Worse Than Almost Anyone Predicted

May 24, 2019 by Javier Blas (Bloomberg) For almost four weeks, the tanker Mendeleev Prospect has been anchored idly off the Polish port of Gdansk unable to discharge a $50 million cargo of crude oil. After any normal voyage the tanker would quickly deliver its 700,000 barrels of Russian crude into a refinery for processing … Read moreRussia’s Dirty Oil Crisis Is Worse Than Almost Anyone Predicted

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The Tesla Stock Bubble Burst, Sparking Existential Questions

May 24, 2019 by Esha Dey and Molly Smith (Bloomberg) For Elon Musk and Tesla Inc., the blows from Wall Street came one after another this week — a relentless barrage that left the stock so beat up that some now wonder if it can ever regain its status as the ultimate 21st century disrupter. … Read moreThe Tesla Stock Bubble Burst, Sparking Existential Questions

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U.S. Well Services Finalizes $55 Million Sale of Convertible Preferred Stock to Fund Electric Frac Fleet Expansion

May 24, 2019  | Source: U.S. Well Services, Inc. HOUSTON, May 24, 2019 (GLOBE NEWSWIRE) — U.S. Well Services, Inc. (Nasdaq: USWS) today announced that it had finalized the $55 Million sale of newly issued Convertible Preferred Stock (or “Preferred Stock”) through a private placement with institutional investors. The financing provides further liquidity to help the … Read moreU.S. Well Services Finalizes $55 Million Sale of Convertible Preferred Stock to Fund Electric Frac Fleet Expansion

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Ultra Petroleum Corp. Announces Extension of Early Participation Date and Withdrawal Deadline for Exchange Offer for 7.125% Senior Notes due 2025 Email Print Friendly Share

May 24, 2019  | Source: Ultra Petroleum Corp. ENGLEWOOD, Colo., May 24, 2019 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (NASDAQ: UPL) today announced that, with respect to the previously announced private offer to exchange (the “Exchange Offer”) outstanding 7.125% Senior Notes due 2025 (the “2025 Notes”) of its wholly owned subsidiary, Ultra Resources, … Read moreUltra Petroleum Corp. Announces Extension of Early Participation Date and Withdrawal Deadline for Exchange Offer for 7.125% Senior Notes due 2025 Email Print Friendly Share

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Koch, Environmentalists Unlikely Allies in Ohio Energy Fight

May 23, 2019, by Jim Efstathiou Jr. (Bloomberg) The Sierra Club and billionaire Charles Koch have found at least one thing to agree on: They hate Ohio’s plan to take away renewable power subsidies and give them to coal and nuclear plants. The pair, normally at odds over energy issues, have both found elements to … Read moreKoch, Environmentalists Unlikely Allies in Ohio Energy Fight

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Big Oil Wants to Conduct a Big Power Experiment in Your House

May 23, 2019, by Kelly Gilblom (Bloomberg) Big Oil wants to put a box in your hall closet that works like a human brain, can cut the lights, stop the refrigerator and will know how you move about in the privacy of your home better than you do. Sounds worrying? It’s one of the ideas … Read moreBig Oil Wants to Conduct a Big Power Experiment in Your House

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Brimming Oil Tanks Forcing China’s Teapots to Cut Their Losses

May 23, 2019, by Bloomberg News (Bloomberg) Oil tanks along China’s eastern seaboard are filling up as the effects of the trade war trickle down into the real economy and sap demand for fuels, making life tough for the country’s independent refiners. In Shandong province — home to many of the non-state refineries known as … Read moreBrimming Oil Tanks Forcing China’s Teapots to Cut Their Losses

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STEP Energy Services
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Heavy rains limit operations at Oklahoma refinery, oil pipeline

(Reuters) – Heavy rains and storms slamming the central United States forced the closure of a HollyFrontier Corp refinery in Oklahoma and a portion of Tallgrass Energy LP’s crude oil pipeline on Thursday. Severe weather in the central United States has left three people dead on Thursday, local media said, as tornadoes raked across southwest … Read moreHeavy rains limit operations at Oklahoma refinery, oil pipeline

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New York’s Prized Scallops Face Off Against Offshore Wind

May 23, 2019, by Christopher Martin and Jennifer A. Dlouhy (Bloomberg) Developers pushing to install massive wind turbines in the waters off New York and New Jersey have run into a delicate yet mighty foe: the Atlantic sea scallop. Prized for their sweet and tender meat, scallops are abundant off Long Island and the Jersey … Read moreNew York’s Prized Scallops Face Off Against Offshore Wind

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Oil Drillers and Greens Unite Against Ohio Nuclear Bailout Plan

May 23, 2019, by Jim Efstathiou Jr. (Bloomberg) The Sierra Club, the American Petroleum Institute and billionaire Charles Koch have found at least one thing to agree on: they hate Ohio’s plan to take away renewable power subsidies and give them to coal and nuclear plants. The groups, normally at odds over energy issues, have … Read moreOil Drillers and Greens Unite Against Ohio Nuclear Bailout Plan

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Companies lobby U.S. Congress on carbon tax; senator expects bill in weeks

WASHINGTON (Reuters) – Representatives from more than 70 companies met with U.S. lawmakers on Wednesday to push for a tax on carbon emissions to fight climate change, and a senator said bipartisan legislation containing such a plan could be introduced in weeks. The gathering, which included PepsiCo, Johnson & Johnson, Tesla and General Mills, was … Read moreCompanies lobby U.S. Congress on carbon tax; senator expects bill in weeks

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Oil Suffers Worst Day of 2019 as Trade Turmoil Swamps Confidence

May 23, 2019 by Alex Nussbaum and Grant Smith (Bloomberg) Oil spiraled to its worst daily performance of the year as mounting trade tensions between the world’s biggest economies sent investors fleeing from risky assets. Futures in New York fell almost 6% on Thursday for the steepest decline since Dec. 24. Equity markets also slumped, … Read moreOil Suffers Worst Day of 2019 as Trade Turmoil Swamps Confidence

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WPX Energy Completes $350 Million Sale of Pipeline Interest

May 23, 2019 Business Wire TULSA, Okla.–(BUSINESS WIRE)–A subsidiary of WPX Energy (NYSE: WPX) and its joint venture partner in the Oryx II pipeline have completed the sale of the project. WPX received net proceeds of approximately $350 million for its 25 percent equity interest after adjusting for debt financing related to Oryx II. In … Read moreWPX Energy Completes $350 Million Sale of Pipeline Interest

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Five Things to Know in World Business Today

May 23, 2019 by Lorcan Roche Kelly (Bloomberg) Full-blown trade war becomes baseline scenario, it’s PMI day, and May hangs by a thread. Here are some of the things people in markets are talking about today. Not going well The breakdown in Sino-U.S. talks and the latest targeting of Chinese companies by the White House has economists at investment … Read moreFive Things to Know in World Business Today

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Diamondback’s Rattler Raises $665 Million in Top 2019 Energy IPO

May 22, 2019 by Michael Hytha (Bloomberg) Rattler Midstream Partners LP raised $665 million in the biggest energy initial public offering of the year, pricing an increased number of shares in the middle of its targeted range. The Midland, Texas-based pipeline company sold 38 million shares at $17.50 each, according to a statement Wednesday. The … Read moreDiamondback’s Rattler Raises $665 Million in Top 2019 Energy IPO

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Oil Falls Below $60 on Rising U.S. Inventories and Trade Tension

May 23, 2019 by Tsuyoshi Inajima and Grant Smith (Bloomberg) — Oil in New York fell below $60 a barrel for the first time since March after a surprise jump in American crude inventories alleviated concerns over a supply crunch, while fears of a full-blown trade war between the U.S. and China weighed on the … Read moreOil Falls Below $60 on Rising U.S. Inventories and Trade Tension

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Rattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Prices Upsized Initial Public Offering of Common Units

May 22, 2019  | Source: Rattler Midstream LP MIDLAND, Texas, May 22, 2019 (GLOBE NEWSWIRE) — Rattler Midstream LP (“Rattler”), a subsidiary of Diamondback Energy, Inc. (Nasdaq: FANG) (“Diamondback”), and Diamondback today announced the pricing of Rattler’s initial public offering of 38,000,000 common units representing limited partner interests at $17.50 per common unit. The 38,000,000 offering of … Read moreRattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Prices Upsized Initial Public Offering of Common Units

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Shell starts production at Appomattox in the Gulf of Mexico

May 23, 2019 CNW First structure in Norphlet comes online ahead of schedule, below FID estimate HOUSTON, May 23, 2019 /CNW/ — Royal Dutch Shell plc, through its subsidiary Shell Offshore Inc (Shell) announces today that production has started at the Shell-operated Appomattox floating production system months ahead of schedule, opening a new frontier in the deep-water US Gulf of Mexico. Appomattox, … Read moreShell starts production at Appomattox in the Gulf of Mexico

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Saudi Gas Deal Signals Commitment to Oil Cuts, Brookfield Says

May 22, 2019, by Naureen S. Malik (Bloomberg) Saudi Aramco’s deal to buy a stake in a U.S. gas export project is a sign the kingdom may be willing to support crude production cuts for longer as it seeks to reduce economic reliance on oil, according to Brookfield Asset Management Inc. The state-owned company announced … Read moreSaudi Gas Deal Signals Commitment to Oil Cuts, Brookfield Says

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U.S. asks Supreme Court for more time on Atlantic Coast natgas pipe appeal

(Reuters) – The U.S. Solicitor General asked the Supreme Court on Wednesday to extend the time the government has to file a petition in an appeal of a circuit court decision preventing Dominion Energy Inc from building the Atlantic Coast natural gas pipeline across the Appalachian Trail in Virginia. Solicitor General Noel Francisco is seeking … Read moreU.S. asks Supreme Court for more time on Atlantic Coast natgas pipe appeal

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U.S. crude stocks highest since July 2017 on weak refining demand: EIA

(Reuters) – U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information Administration said on Wednesday. Crude inventories rose 4.7 million barrels in the week ended May 17, compared with analysts’ expectations for a decrease of 599,000 barrels. … Read moreU.S. crude stocks highest since July 2017 on weak refining demand: EIA

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Presto GeoSystems

Alaska energy lease sales draw meager interest: officials

ANCHORAGE, Alaska (Reuters) – A pair of oil and gas lease sales that offered nearly 10 million acres of state territory in southern Alaska drew only three bids, officials announced on Wednesday. Hilcorp Energy Company’s Alaska unit submitted bids for three tracts comprising 10,286 acres in the Cook Inlet region, said Kyle Smith, leasing manager … Read moreAlaska energy lease sales draw meager interest: officials

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Texas environmentalists plan lawsuit against Valero for pollution

HOUSTON (Reuters) – Three Texas environmental groups notified Valero Energy Corp on Wednesday of plans to file a lawsuit under the U.S. Clean Air Act for pollution at the company’s Port Arthur, Texas, refinery, the organizations said. Environment Texas, the Sierra Club and the Port Arthur Community Action Network allege over 600 violations of pollution … Read moreTexas environmentalists plan lawsuit against Valero for pollution

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Saudis Tap Into U.S. Shale Gas Boom With Sempra LNG Stake

May 22, 2019, by Anthony DiPaola (Bloomberg) Saudi Aramco agreed to a buy a 25% stake in Sempra Energy’s Texas liquefied natural gas terminal, giving the world’s biggest oil exporter a foothold in the fast-growing market for global LNG trade. The proposed deal, which includes a 20-year agreement to buy 5 million tons of gas … Read moreSaudis Tap Into U.S. Shale Gas Boom With Sempra LNG Stake

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