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OPEC+ technical committee sees Jan oil supply cuts compliance at 83 percent: delegates

LONDON (Reuters) – A monitoring committee for an OPEC and non-OPEC oil supply reduction deal found compliance with the cuts at 83 percent, four delegates from the group told Reuters on Wednesday. The Organization of the Petroleum Exporting Countries and several other exporters led by Russia have agreed to cut oil production by 1.2 million … Read moreOPEC+ technical committee sees Jan oil supply cuts compliance at 83 percent: delegates

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U.S. shale oil output to hit record 8.4 million bpd in March: EIA

Shale Rig

NEW YORK (Reuters) – U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is forecast in the Permian Basin of Texas and … Read moreU.S. shale oil output to hit record 8.4 million bpd in March: EIA

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Commonwealth LNG finds European demand for gas from Louisiana terminal – CEO

TOKYO, Feb 20 (Reuters) – Commonwealth LNG has received commitments from European buyers to take almost half of the liquefied natural gas (LNG) from its planned 8.4-million-tonnes-per-year export terminal in Louisiana, Chief Executive Officer Paul Varello said on Wednesday. The Commonwealth project is one of more than 10 LNG export terminals under development or construction … Read moreCommonwealth LNG finds European demand for gas from Louisiana terminal – CEO

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Concho Resources Inc. Reports Fourth-Quarter and Full-Year 2018 Results; Updates 2019 Outlook

Delivers Strong 2018 Results from Large-Scale Development Efficiencies Provides Updated 2019 Outlook Reinforcing Focus on Free Cash Flow Growth MIDLAND, Texas–(BUSINESS WIRE)– Concho Resources Inc. (NYSE: CXO) (the “Company” or “Concho”) today reported results for fourth-quarter and full-year 2018. 2018 Highlights Delivered full-year production of 263 MBoepd (64% oil), in-line with the high-end of the … Read moreConcho Resources Inc. Reports Fourth-Quarter and Full-Year 2018 Results; Updates 2019 Outlook

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Devon Energy Reports Fourth-Quarter and Full-Year 2018 Results

OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corp. (NYSE: DVN) today reported operational and financial results for the fourth quarter and full-year 2018. Also provided is the company’s guidance for the first quarter and full-year 2019. Supplemental financial tables for the fourth quarter, full-year 2018 and 2019 outlook are available on the company’s website at www.devonenergy.com. Fourth-Quarter and … Read moreDevon Energy Reports Fourth-Quarter and Full-Year 2018 Results

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Targa Resources Corp. Reports Fourth Quarter and Full Year 2018 Financial Results and Provides 2019 Operational and Financial Guidance

Targa Resources

HOUSTON, Feb. 20, 2019 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“TRC”, the “Company” or “Targa”) today reported fourth quarter and full year 2018 results. Fourth Quarter and Full Year 2018 Financial Results Fourth quarter 2018 net income (loss) attributable to Targa Resources Corp. was ($106.4) million compared to $283.1 million for the fourth quarter … Read moreTarga Resources Corp. Reports Fourth Quarter and Full Year 2018 Financial Results and Provides 2019 Operational and Financial Guidance

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Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2018 Financial and Operating Results

MIDLAND, Texas, Feb. 19, 2019 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2018. 2018 HIGHLIGHTS Full year 2018 net income of $846 million, or $8.06 per diluted share; adjusted net income (as defined and reconciled … Read moreDiamondback Energy, Inc. Announces Fourth Quarter and Full Year 2018 Financial and Operating Results

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COLUMN-Slowing U.S. economy can ill afford any more shocks: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2GVTxDc By John Kemp LONDON, Feb 19 (Reuters) – The U.S. economy lost a lot of momentum during the fourth quarter and suffered a serious wobble in December, which should give policymakers pause before doing anything that could unsettle fragile … Read moreCOLUMN-Slowing U.S. economy can ill afford any more shocks: Kemp

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Kinder Morgan to expand Chicago ethanol hub to calm price manipulation concerns – sources

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. REUTERS/Jim Young

ORLANDO, Fla. (Reuters) – Kinder Morgan Inc will expand loading capacity at its ethanol terminal in Chicago to address producer concerns that trade at the terminal – a benchmark for global ethanol prices – is vulnerable to manipulation, three people briefed on the company’s plans told Reuters. Tens of thousands of barrels change hand at … Read moreKinder Morgan to expand Chicago ethanol hub to calm price manipulation concerns – sources

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Oil Near Three-Month High as OPEC Cuts Amid Rising U.S. Supply

Feb 20, 2019, by Grant Smith and Heesu Lee (Bloomberg) Oil held near a three-month high as investors weighed OPEC’s production cuts against estimates of rising crude inventories in the U.S. Futures fell by 0.4 percent in New York, after gaining around 7 percent since Feb. 11. U.S. crude stockpiles probably increased for a fifth … Read moreOil Near Three-Month High as OPEC Cuts Amid Rising U.S. Supply

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America’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash

Feb 20, 2019, by Kevin Crowley and Rachel Adams-Heard (Bloomberg) America’s surging shale oil production shows little sign of abating, despite industrywide spending cuts, as explorers learn to do more with less. Almost all the independent producers have reduced their budgets for 2019, but many still expect to deliver double-digit growth in production this year, … Read moreAmerica’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash

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Utah Oil and Gas Leases Attacked in Court by Conservationists

Pumping Station

Feb 19, 2019, by Carlyann Edwards (Bloomberg) A Utah conservation group asked a judge to invalidate the sale of 43 oil and gas leases on land jam-packed with some of the nation’s most significant archaeological resources. Friends of Cedar Mesa is challenging lease sales covering approximately 51,400 acres of public lands in San Juan County, … Read moreUtah Oil and Gas Leases Attacked in Court by Conservationists

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Five Things to Know in World Business Today

Feb 20, 2019, by Lorcan Roche Kelly (Bloomberg) Fed record In January, the FOMC famously signaled a big dovish shift. At 2:00 p.m. Eastern Time today, the minutes of the meeting are released that should shed light on the decision to drop a promise for “some further gradual increases”  from the policy outlook. Federal Reserve Bank of Cleveland President … Read moreFive Things to Know in World Business Today

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California’s Dirty Oil Gets Pricey Amid Venezuela Sanctions

Feb 19, 2019, by Robert Tuttle and Sheela Tobben (Bloomberg) California doesn’t usually come to mind when talking about the U.S. oil boom, but the state’s dirty oil is commanding an increasingly large premium amid an international shortfall of dense, high-sulfur crude. Refiners in the Golden State have been forced to import most of their … Read moreCalifornia’s Dirty Oil Gets Pricey Amid Venezuela Sanctions

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US investment firms in talks to take stake in Adnoc pipeline network – report

By Bernd Debusmann Jr. (Arabian Business) The stake is likely to be worth $4 billion to $5 billion. American investment firms BlackRock Inc and KKR & Co are in discussions to take a stake in the Abu Dhabi National Oil Company’s (ADNOC) pipeline network, according to a report in the Financial Times. According to the … Read moreUS investment firms in talks to take stake in Adnoc pipeline network – report

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TransCanada restarts shut portion of Keystone oil pipeline

TransCanada Corp restarted a section of the Keystone oil pipeline on Tuesday, following a leak in Missouri earlier this month, company spokesman Terry Cunha said.TransCanada had shut an arm of Keystone from Steele City, Nebraska to Patoka, Illinois on Feb. 6 after leaking 43 barrels of crude oil.The shutdown restricted the flow on the 590,000 … Read moreTransCanada restarts shut portion of Keystone oil pipeline

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GeoConvention 2019 Conference & Trade Show: Save with Early Bird Pricing – Registration Now Open

Save with Early Bird Pricing – Registration Now Open With nearly 30% more abstract submissions as 2018, the GeoConvention 2019 program is coming together very nicely, showcasing some of the brightest minds and thought leaders within the Geosciences. Register now and save up to $200 with Early Bird Pricing.  www.geoconvention.com/registration Join us as an Exhibitor or … Read moreGeoConvention 2019 Conference & Trade Show: Save with Early Bird Pricing – Registration Now Open

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Six key trends in sustainable and renewable energy

By Jennifer Runyon (Renewable Energy World) The 2019 Sustainable Energy in America factbook was released this week by Bloomberg New Energy Finance (BloombergNEF) and the Business Council for Sustainable Energy (BCSE). The factbook highlights a number of key trends in sustainable and renewable energy growth, emissions and jobs in the sector. Take a glance at … Read moreSix key trends in sustainable and renewable energy

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Crestwood Announces Fourth Quarter 2018 Financial and Operating Results; Exceeds 2018 Guidance Targets; Provides 2019 Growth Outlook

Strong execution drives FY 2018 net income of $67.0 million and adjusted EBITDA1 of $420.1 million; Exceeding FY 2018 guidance targets 2019E adjusted EBITDA1 guidance range of $460 million to $490 million; mid-point implies 13% year-over-year growth from FY 2018 Growth capital of $275 million to $325 million expected to drive 15% DCF per unit … Read moreCrestwood Announces Fourth Quarter 2018 Financial and Operating Results; Exceeds 2018 Guidance Targets; Provides 2019 Growth Outlook

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Noble Midstream Partners Reports Fourth Quarter and Full Year 2018 Results

HOUSTON–(BUSINESS WIRE)–Noble Midstream Partners LP (NYSE: NBLX) (Noble Midstream or the Partnership) today reported fourth quarter and full year 2018 financial and operational results. The Partnership’s results are consolidated to include the non-controlling interests in the Partnership’s development companies (DevCos) retained by Noble Energy, Inc. (Noble Energy) as well as Greenfield Midstream, LLC’s (Greenfield Midstream) … Read moreNoble Midstream Partners Reports Fourth Quarter and Full Year 2018 Results

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Despite sanctions, Iran’s oil exports rise in early 2019: sources

LONDON (Reuters) – Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from U.S. sanctions. Shipments are averaging 1.25 million barrels per day (bpd) in February, Refinitiv Eikon data … Read moreDespite sanctions, Iran’s oil exports rise in early 2019: sources

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Noble Energy Announces Fourth Quarter and Full-Year 2018 Results

HOUSTON–(BUSINESS WIRE)–Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or the “Company”) today announced fourth quarter and full-year 2018 financial and operating results. Fourth quarter highlights include: Organic capital expenditures funded by Noble Energy totaled $643 million, towards the low end of guidance. Sales volumes of 350 MBoe/d exceeded the top end of guidance, including record … Read moreNoble Energy Announces Fourth Quarter and Full-Year 2018 Results

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Helix Reports Fourth Quarter and Full Year 2018 Results

HOUSTON–(BUSINESS WIRE)–Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) reported a net loss of $13.7 million, or $(0.09) per diluted share, for the fourth quarter of 2018 compared to net income of $50.6 million, or $0.34 per diluted share, for the same period in 2017 and net income of $27.1 million, or $0.18 per diluted … Read moreHelix Reports Fourth Quarter and Full Year 2018 Results

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Five Things to Know in World Business Today

Feb 19, 2019, by Lorcan Roche Kelly (Bloomberg) More talks Talks between China and the U.S. toward a trade agreement restart in Washington today, with Vice Premier Liu He scheduled to meet U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Feb. 21-22. Steve Censky, the Department of Agriculture’s Deputy Secretary, said at an industry conference … Read moreFive Things to Know in World Business Today

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Oil Trades Near Three-Month High on Trade Talks, OPEC Cutbacks

Feb 19, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil held near a three-month high in New York as OPEC’s production cuts allayed concerns of a renewed surplus, while prospects for a resolution to the U.S.-China trade war supported the outlook for demand. Futures rose 0.7 percent from their close on Friday, when they … Read moreOil Trades Near Three-Month High on Trade Talks, OPEC Cutbacks

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Hedge funds accelerate oil buying: Kemp

By John Kemp LONDON (Reuters) – Investors bought crude oil futures and options at the fastest rate for almost six months in the week to Feb. 12. Hedge fund managers are becoming steadily more bullish on the outlook for oil prices as Saudi Arabia makes deep cuts in production, sanctions hit Venezuela and Iran, and … Read moreHedge funds accelerate oil buying: Kemp

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Westlake Chemical Corporation Reports Record 2018 Full-Year Results

Record annual sales of $8.6 billion Record annual income from operations of $1.4 billion Net income for 2018 of $996 million, or $7.62 per diluted share, and record EBITDA of $2.1 billion Retired $1.2 billion of debt in 2018 HOUSTON–(BUSINESS WIRE)–Westlake Chemical Corporation (NYSE: WLK) (the “Company” or “Westlake”) today reported net income attributable to … Read moreWestlake Chemical Corporation Reports Record 2018 Full-Year Results

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Shell Eyes Limit to How Clean Oil Output Can Be

Feb 18, 2019, by Mikael Holter (Bloomberg) There’s only so much you can do to make oil and gas production cleaner. That was a key realization behind Royal Dutch Shell Plc’s decision to set targets to reduce greenhouse-gas emissions not just from its own operations, but also from the products it sells which are consumed … Read moreShell Eyes Limit to How Clean Oil Output Can Be

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Targa Resources Corp. Sells 45 Percent Interest in Bakken Assets for $1.6 Billion

Targa Resources

HOUSTON, Feb. 19, 2019 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has entered into definitive agreements to sell a 45 percent interest in Targa Badlands LLC (“Badlands”), the entity that holds all of Targa’s assets in North Dakota, to funds managed by GSO Capital Partners and … Read moreTarga Resources Corp. Sells 45 Percent Interest in Bakken Assets for $1.6 Billion

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The OPEC+ Oil Deal Is Standing on One Wobbly Leg: Julian Lee

Feb 16, 2019, by Julian Lee (Bloomberg Opinion) I know a little bit about standing on one leg; my daughter has encouraged me to learn to water ski. It’s not easy at my age, in England, in winter. OK, I’m actually on two legs, but they are on one ski. I tend to wobble a lot … Read moreThe OPEC+ Oil Deal Is Standing on One Wobbly Leg: Julian Lee

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Republican backlash against Trump EPA pick fueled by ‘biofuel reset’

WASHINGTON/NEW YORK (Reuters) – EPA acting administrator Andrew Wheeler rejected a proposal from his staff that would have reduced the ambition of the nation’s biofuel policy over the next three years, arguing the targeted range it included for annual ethanol consumption was too low, according to two sources familiar with the matter. The decision, made … Read moreRepublican backlash against Trump EPA pick fueled by ‘biofuel reset’

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Tesla Batteries in Short Supply for Many U.S. Solar Installers

Feb 19, 2019, by Brian Eckhouse (Bloomberg) There’s plenty of demand for Tesla Inc.’s Powerwall home-battery systems. The trick is finding installers that have them. Only 12 percent of U.S. companies that install solar panels and residential batteries carry the Powerwall, a study Tuesday from Boston-based EnergySage and the North American Board of Certified Energy … Read moreTesla Batteries in Short Supply for Many U.S. Solar Installers

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Petroleum terminal expands to allow more oil trains

PORTLAND, Ore. — A Portland petroleum terminal is significantly expanding its capacity to unload rail cars, a move that sets the stage to more than double the number of oil trains along the Columbia and Willamette rivers into Oregon’s biggest city, OPB has learned. Zenith Energy, sandwiched between the river and Forest Park in the … Read morePetroleum terminal expands to allow more oil trains

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

(Reuters) – U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels. Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, … Read moreU.S. drillers add oil rigs for second week in a row

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Department of Energy to Provide $12 Million for Research on Quantum Information Science for Particle Physics

WASHINGTON D.C.–Today, the U.S. Department of Energy (DOE) announced a plan to provide $12 milion for new research on Quantum Information Science (QIS) for particle physics. QIS seeks to harness exotic quantum properties of matter for computing, information processing, and other applications.   The current initiative will explore potential synergies and connections between QIS and particle … Read moreDepartment of Energy to Provide $12 Million for Research on Quantum Information Science for Particle Physics

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U.S. court dismisses Energy Transfer Partners lawsuit against Greenpeace

Feb 14 (Reuters) – A federal court in North Dakota has dismissed a lawsuit from Energy Transfer Partners LP against environmental group Greenpeace, according to a court order on Thursday. ETP had sued reut.rs/2SASoIv Greenpeace and other environmental groups in 2017, accusing them of racketeering and defamation with the aim of blocking the Dakota Access … Read moreU.S. court dismisses Energy Transfer Partners lawsuit against Greenpeace

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U.S. shale executives predict oil production constraints to remain

HOUSTON (Reuters) – Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy conference said on Thursday. The price of crude in the Permian Basin of West Texas and New Mexico fell sharply last year, … Read moreU.S. shale executives predict oil production constraints to remain

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Global coal, LNG prices tumble as supply surges and demand weakens

LNG And LPG Operations At Aqaba Port, Jordan

* Thermal coal and LNG supply hits multi-year highs in January * Demand outlook from power generation tepid short and longer term * Falling coal & LNG prices: tmsnrt.rs/2EcWpdv * Rising coal & LNG supply: tmsnrt.rs/2BAqzFL By Henning Gloystein and Nina Chestney SINGAPORE/LONDON, Feb 15 (Reuters) – Thermal coal and natural gas prices are tumbling, … Read moreGlobal coal, LNG prices tumble as supply surges and demand weakens

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Equinor, 3 JVs vie for offshore wind power park in New York

OSLO (Reuters) – New York State said on Thursday it had received proposals from Norway’s Equinor and three joint ventures to build its first offshore wind power park of at least 800-megawatt capacity. The three joint ventures are Bay State Wind, between Danish Orsted and Eversource Energy; Atlantic Shores Offshore Wind, consisting of France’s EDF … Read moreEquinor, 3 JVs vie for offshore wind power park in New York

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Berkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it has trimmed its stake in iPhone maker Apple Inc, though none of the selling was Buffett’s, and added positions in Canada’s Suncor Energy Inc and software company Red Hat Inc. Berkshire also appeared to have shed a $2.13 billion stake in database software company Oracle Corp … Read moreBerkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle

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Equinor Submits Bid to New York to Provide Renewable Energy from Empire Wind Project

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

NEW YORK–(BUSINESS WIRE)–Equinor Wind US today submitted a bid to provide New York state with a significant, long-term source of renewable energy from its Empire Wind lease site located offshore New York and New Jersey. Equinor’s bid comes in response to the 800MW New York State Offshore Wind Power Procurement, the state’s first formal solicitation … Read moreEquinor Submits Bid to New York to Provide Renewable Energy from Empire Wind Project

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Oil Poised for Weekly Gain as OPEC+ Curbs Counter Trade Worries

Feb 15, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil headed for its biggest weekly gain in a month as the OPEC+ coalition’s supply cuts and reduced output from the world’s biggest offshore field overshadowed renewed concern over the U.S.-China trade war. Futures in New York were steady on Friday, and have increased 3.3 … Read moreOil Poised for Weekly Gain as OPEC+ Curbs Counter Trade Worries

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Five Things to Know in World Business Today

Feb 15, 2019, by Lorcan Roche Kelly and Cecile Gutscher (Bloomberg) Shutdown, emergency President Donald Trump is expected to sign Congress’s compromise funding bill later today, while at the same time making use of his executive powers to declare an emergency at the border to unilaterally shift about $7 billion of federal funds towards construction … Read moreFive Things to Know in World Business Today

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VW Targets Carbon-Neutral Production for First Electric Car

Volkswagen Electric Car

Feb 15, 2019, by Chris Reiter and Brian Parkin (Bloomberg) Volkswagen AG plans to save 1 million tons of carbon-dioxide emissions a year by making production of its first electric model carbon neutral, part of an effort to clean up its image in the aftermath of the diesel-cheating scandal. The German automaker will use green … Read moreVW Targets Carbon-Neutral Production for First Electric Car

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Osprey Informatics featured in the Financial Post: Oilpatch AI keeps a wary eye on remote wells after human officials go home

Osprey Logo - December 2018 Update Feature

CALGARY — From a computer in his downtown office, Jeremy Bernard calls up live video of an oil well site in rural Alberta, clicking to bring up a cluster of small buildings, then a gravel road that leads across snowy pasture. The picture is sharp and the camera can detect motion. But its monitoring effectiveness … Read moreOsprey Informatics featured in the Financial Post: Oilpatch AI keeps a wary eye on remote wells after human officials go home

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As renewables soar, BP sees China hitting brakes on energy growth

BP Gas Station

LONDON (Reuters) – Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply decelerating as its economic expansion slows. Still, China is set to remain the largest energy consumer by a long stretch into 2040 … Read moreAs renewables soar, BP sees China hitting brakes on energy growth

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World’s Biggest Battery to Boost Solar in Texas Oil Country

Feb 14, 2019, by Christopher Martin (Bloomberg) The world’s largest battery could soon be storing solar energy deep in the heart of Texas oil country. The 495-megawatt storage system would be built in tandem with a solar farm of the same size in Borden County, Texas. The Electric Reliability Council of Texas Inc., which operates … Read moreWorld’s Biggest Battery to Boost Solar in Texas Oil Country

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Despite 2018 slowdown, 2019 is expected to be a big year for wind power

By Renewable Energy World Editors Top 10 global onshore wind turbine makers, 2018. Credit: BNEF (Only includes onshore wind capacity. Total fully commissioned onshore wind capacity in 2018 was 45.4 GW. SGRE is Siemens Gamesa Renewable Energy.)           Global commissioning of onshore wind turbines declined 3 percent in 2018, partly due to a slowdown in … Read moreDespite 2018 slowdown, 2019 is expected to be a big year for wind power

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California municipal utility will phase out three natural gas power plants in favor of renewables

By Jennifer Runyon (Renewable Energy World) This week, Los Angeles Mayor Eric Garcetti announced that rather than investing in the Haynes, Harbor and Scattergood natural gas power plants to meet the requirements of a 2010 law related to a practice known as once through cooling, the Los Angeles Department of Water and Power (LADWP) will … Read moreCalifornia municipal utility will phase out three natural gas power plants in favor of renewables

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U.S. issues new rules requiring rail oil spill response plans

WASHINGTON (Reuters) – The U.S. Transportation Department on Thursday issued final rules requiring railroads to develop oil spill response plans and to disclose details of shipments to states and tribal governments after a series of high-profile incidents. The department’s Pipeline and Hazardous Materials Safety Administration said the rules, first proposed in July 2016, would “improve … Read moreU.S. issues new rules requiring rail oil spill response plans

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EQM expects to complete WV-VA Mountain Valley natgas pipe fourth-quarter 2019

(Reuters) – EQM Midstream Partners LP said on Thursday it expects to complete the $4.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in the fourth quarter of 2019 despite remaining legal challenges against the project. The company said in its fourth quarter earnings release that Mountain Valley was about 70 percent … Read moreEQM expects to complete WV-VA Mountain Valley natgas pipe fourth-quarter 2019

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Portland General Electric, NextEra announce unique solar-wind-energy storage project in Oregon

By Renewable Energy World staff Florida-based NextEra Energy Resources will team with Portland General Electric Co. to build a combined wind, solar and energy storage power facility in eastern Oregon. The announcement Wednesday detailed the new project called the Wheatridge Renewable Energy Facility. The companies’ press release called it “the first of this scale in … Read morePortland General Electric, NextEra announce unique solar-wind-energy storage project in Oregon

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Eclipse Resources Corporation Provides Fourth Quarter and Full Year 2018 Production Results and Year-End 2018 Proved Reserves

STATE COLLEGE, Pa.–(BUSINESS WIRE)–Eclipse Resources Corporation (NYSE:ECR) (the “Company” or “Eclipse Resources”) today is pleased to announce fourth quarter and full year 2018 production results along with year-end 2018 proved reserves. Fourth Quarter and Full Year 2018 Results The Company reported fourth quarter 2018 average net production of 404.5 MMcfe per day and reported full … Read moreEclipse Resources Corporation Provides Fourth Quarter and Full Year 2018 Production Results and Year-End 2018 Proved Reserves

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NOW Inc. Reports Fourth Quarter and Full-Year 2018 Results

HOUSTON–(BUSINESS WIRE)–NOW Inc. (NYSE: DNOW) announced results for the fourth quarter and full-year ended December 31, 2018. Earnings Conference Call February 14, 2019 8:00 a.m. CST 1 (800) 446-1671 (North America) 1 (847) 413-3362 (Outside North America) Webcast: ir.distributionnow.com Fourth Quarter 2018 Financial Highlights Revenue was $764 million for the fourth quarter of 2018, up … Read moreNOW Inc. Reports Fourth Quarter and Full-Year 2018 Results

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EQT Reports Fourth Quarter and Year-End 2018 Results

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today announced financial and operational performance results for the fourth quarter and full-year 2018. Achieved fourth quarter net cash provided by operating activities of $531 million and adjusted free cash flow of $134 million (a non-GAAP measure) Increased full-year net cash provided by operating activities by 82% and adjusted operating … Read moreEQT Reports Fourth Quarter and Year-End 2018 Results

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Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2018 Financial and Operating Results; Provides 2019 Outlook

DALLAS–(BUSINESS WIRE)–Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter and year ended December 31, 2018. Pioneer reported fourth quarter net income attributable to common stockholders of $324 million, or $1.89 per diluted share. These results include the effect of noncash mark-to-market (MTM) derivative gains and … Read morePioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2018 Financial and Operating Results; Provides 2019 Outlook

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Williams Reports Fourth-Quarter and Full-Year 2018 Financial Results

TULSA, Okla.–(BUSINESS WIRE)–Williams (NYSE: WMB) today announced its financial results for the three and 12 months ended Dec. 31, 2018. Highlights Net Income (Loss) Attributable to Williams Available to Common Stockholders of ($572) Million for 4Q 2018 and ($156) Million for Full-Year 2018 (impacted by certain asset impairments and gains as described in this press … Read moreWilliams Reports Fourth-Quarter and Full-Year 2018 Financial Results

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Williams and Targa Resources Announce New NGL Agreements to Link Conway and Mont Belvieu Markets with New Pipeline Projects; Announce Option for Mont Belvieu Fractionation Joint Venture

Targa Resources

Williams and Targa to expand key NGL infrastructure to open markets between Conway and Mont Belvieu Provides improved market access for both Rockies and DJ NGL production Williams and Targa to capture synergies from growing NGL volumes being produced in Wamsutter and DJ Basin operations Provides strategic optimization opportunity for Williams’ suite of NGL and … Read moreWilliams and Targa Resources Announce New NGL Agreements to Link Conway and Mont Belvieu Markets with New Pipeline Projects; Announce Option for Mont Belvieu Fractionation Joint Venture

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Citi to Power its Texas Operations with Clean, Renewable Energy

NEW YORK–(BUSINESS WIRE)–Citi (NYSE:C) has entered into a new agreement to supply clean, renewable energy for a multi-year term to its operations in Texas. The power adds to Citi’s existing renewable supply, contributing to the bank’s goal to supply 100% renewable energy to power Citi’s facilities globally by 2020. The power and renewable energy credits … Read moreCiti to Power its Texas Operations with Clean, Renewable Energy

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China’s coal imports surge, but prices tell a better story: Russell

Imported coal is seen lifted by cranes from a coal cargo ship at a port in Lianyungang, Jiangsu province, China July 26, 2018. REUTERS/Stringer

LAUNCESTON, Australia (Reuters) – China’s coal imports soared in January, more than tripling from the prior month to 33.5 million tonnes, but there are compelling reasons to treat this outcome with caution, including weakness in benchmark Australian coal prices. January’s coal imports were the highest in five years, rising 228 percent from the weak 10.23 … Read moreChina’s coal imports surge, but prices tell a better story: Russell

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Marathon Oil profit beats on higher U.S. production

(Reuters) – Marathon Oil Corp beat analysts’ estimates for fourth-quarter profit on Wednesday, on the back of higher production at its U.S. shale assets and said it expects oil output to grow 10 percent in 2019. The company has been looking to divest its North Sea assets and focus on the rising shale oil production … Read moreMarathon Oil profit beats on higher U.S. production

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Oil rises for third day as U.S./China trade, OPEC cheer investors

Oil pipe

LONDON (Reuters) – Oil rose for a third day on Thursday to reach its highest so far this year as financial markets drew support from investor optimism that the United States and China could resolve their trade dispute. The price of crude has risen 20 percent this year, driven primarily by the prospect of a … Read moreOil rises for third day as U.S./China trade, OPEC cheer investors

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Oil Crash Is Over, But Debt Is Still Piling Up in the Gulf

Feb 14, 2019, by Zainab Fattah (Bloomberg) The oil crash came and went but the debt pile it left across the Gulf is still growing, leaving the region’s energy-dependent economies more vulnerable next time a crisis strikes. All but debt-free before crude prices nosedived in 2014, many Gulf governments tried to borrow their way through … Read moreOil Crash Is Over, But Debt Is Still Piling Up in the Gulf

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Global Oil Prices Turn Topsy-Turvy as Scorned Crudes Become Dear

Feb 14, 2019, by Michelle Kim and Serene Cheong (Bloomberg) Some of the world’s dirtiest and densest crudes traditionally spurned for being too difficult to process are having a moment in the sun, with a little help from Donald Trump. “Heavy-sour” oil from nations such as Venezuela and Iraq have a higher sulfur content and … Read moreGlobal Oil Prices Turn Topsy-Turvy as Scorned Crudes Become Dear

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It’s All Going Wrong Again for OPEC: Oil Strategy

Feb 14, 2019, by Julian Lee (Bloomberg) Even as oil producing states in OPEC and beyond begin implementing the output cuts they agreed in December, the world’s need for their crude is shrinking further, suggesting that they will need to extend the deal through the second half of the year. The latest forecasts from supply-and-demand … Read moreIt’s All Going Wrong Again for OPEC: Oil Strategy

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Energy Companies Perform Better When CEO Pay Isn’t Tied to Production

Feb 13, 2019, by Eric Roston (Bloomberg) Oil and gas companies continue to link executive pay to the discovery of energy resources the world can’t safely burn, potentially jeopardizing shareholder value, according to a new report. As many parts of the world shift toward a low-carbon economy, energy companies may be at increasing risk “of … Read moreEnergy Companies Perform Better When CEO Pay Isn’t Tied to Production

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Five Things to Know in World Business Today

Feb 14, 2019, by Samuel Potter (Bloomberg) Scheduling more couples therapy Five Things is shocked – shocked! – to see upbeat China export data arrive just as trade talks with the U.S. reach crunch time. Leaders in Beijing, from where the numbers originate, must be counting their lucky stars after this fortuitous turn of events, apparently caused by companies front-running the … Read moreFive Things to Know in World Business Today

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U.S. Gulf Coast crude prices rise on falling imports, rising Cushing supply

HOUSTON/NEW YORK (Reuters) – U.S. Gulf Coast crude prices climbed sharply this week after fog-related port closures slowed the nation’s crude imports and as supplies rose at the U.S. storage hub in Cushing, Oklahoma, traders and analysts said on Wednesday. Buyers bid up U.S. coastal grades like Light Louisiana Sweet and Mars Sour after imports … Read moreU.S. Gulf Coast crude prices rise on falling imports, rising Cushing supply

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Sempra Renewables Selling Wind and Energy Storage Assets to AEP for $1.05B

By Rod Walton (Renewable Energy World) American Electric Power is acquiring Sempra Renewables LLC and its 724 MW of wind and battery assets, the Columbus, Ohio-based utility holding company announced Tuesday. AEP will pay about $1.056 billion for Sempra’s wind assets. The deal includes $551 million in cash, assumption of $343 million in existing project … Read moreSempra Renewables Selling Wind and Energy Storage Assets to AEP for $1.05B

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Pioneer Natural Resources posts profit miss, shares fall

(Reuters) – Pioneer Natural Resources Co reported fourth-quarter profit on Wednesday that missed analysts’ estimates, sending shares of the U.S. shale producer down in after-hours trading. The Irving, Texas, company reported an adjusted profit of $1.18 per share in the fourth quarter, down from $1.22 in the same quarter of the prior year, and below … Read morePioneer Natural Resources posts profit miss, shares fall

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Texas Shale Forces Big Oil Cost Revolution, Chevron CEO Says

Feb 13, 2019, by Kevin Crowley (Bloomberg) For Mike Wirth, the future of Big Oil lies at home, under the dusty fields of West Texas. As he celebrates his first year as chief executive of Chevron Corp., Wirth sees the Permian Basin as a plentiful source of high-quality crude for years to come, but that’s … Read moreTexas Shale Forces Big Oil Cost Revolution, Chevron CEO Says

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GE wins most 2018 gas turbine orders; Mitsubishi wins on new technology: report

NEW YORK (Reuters) – General Electric Co booked the most orders for electricity-generating gas turbines in 2018 but fell to second place for the largest and most advanced machines, behind Mitsubishi Hitachi Power Systems, according to a closely watched report seen by Reuters and people familiar with the matter. Demand for gas turbines has been … Read moreGE wins most 2018 gas turbine orders; Mitsubishi wins on new technology: report

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Enbridge wins lawsuit over town’s opposition to compressor station

By Dena Aubin (Reuters) A federal judge in Boston has blocked the town of Weymouth, Massachusetts from enforcing a zoning ordinance to stop construction of a natural gas compressor station by a unit of Canada’s Enbridge. In a decision on Monday, U.S. District Judge Denise Casper said Weymouth’s ordinance is preempted by the U.S. Natural … Read moreEnbridge wins lawsuit over town’s opposition to compressor station

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EQT settles with West Virginia landowners

Feb 13 (Reuters) – EQT Corp said on Wednesday it has agreed to pay $53.5 million to settle with West Virginia landowners who are part of a statewide class-action lawsuit related to lease royalty payments. The energy firm is building a $4.6 billion pipeline to connect growing output in the Marcellus and Utica shale basins … Read moreEQT settles with West Virginia landowners

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Occidental Petroleum Announces 4th Quarter and Full Year 2018 Results

HOUSTON, Feb. 12, 2019 (GLOBE NEWSWIRE) — Occidental Petroleum Corporation (NYSE:OXY) today announced its fourth quarter and full year 2018 results. The announcement, financial schedules and accompanying slides can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the Securities and Exchange Commission’s website at … Read moreOccidental Petroleum Announces 4th Quarter and Full Year 2018 Results

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Mexco Energy Corporation Reports Third Quarter and Oil and Gas Drilling Results

MIDLAND, TEXAS, Feb. 12, 2019 (GLOBE NEWSWIRE) — Mexco Energy Corporation (NYSE American: MXC) today reported a net loss of $13,076 for the quarter ending December 31, 2018, compared to a net loss of $101,228 for the quarter ending December 31, 2017. Operating revenues in the third quarter of fiscal 2019 were $644,316, a 2% … Read moreMexco Energy Corporation Reports Third Quarter and Oil and Gas Drilling Results

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Barnwell Industries, Inc. Reports Results for the First Quarter Ended December 31, 2018

HONOLULU, Feb. 13, 2019 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) today reported a net loss of $4,600,000, $0.56 per share, for the three months ended December 31, 2018, as compared to a net loss of $1,017,000, $0.12 per share, for the three months ended December 31, 2017. Mr. Alexander Kinzler, Chief Executive … Read moreBarnwell Industries, Inc. Reports Results for the First Quarter Ended December 31, 2018

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EQT and West Virginia Royalty Owners Reach Tentative Agreement to Settle Class Action Royalty Claims

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today announced that it has reached a tentative settlement agreement with West Virginia landowners who are part of a statewide class action lawsuit. EQT believes that the proposed settlement agreement, which will resolve lease royalty claims in a case that has been pending since 2013, demonstrates the Company’s commitment to fostering … Read moreEQT and West Virginia Royalty Owners Reach Tentative Agreement to Settle Class Action Royalty Claims

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Report: Illinois a National Leader in Solar Job Creation with 37 Percent Job Growth in 2018

Solar Panels

SPRINGFIELD, Ill.–(BUSINESS WIRE)–Illinois outpaced 48 states in solar jobs growth in 2018, adding 1,308 jobs in a single year, according to The Solar Foundation’s latest National Solar Jobs Census, released today. The 37 percent increase moves Illinois ahead of other Midwest states in solar employment and established the state’s solar workforce as the 13th-largest in … Read moreReport: Illinois a National Leader in Solar Job Creation with 37 Percent Job Growth in 2018

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California Tasks PG&E Advisers With Delivering Plan in 60 Days

Feb 13, 2019, by Mark Chediak, Romy Varghese and Allison McNeely (Bloomberg) A California’s team of advisers on PG&E Corp.’s bankruptcy has been given 60 days to map out a plan to ensure the lights stay on, wildfire victims get justice and ratepayers and employees are protected. The Golden State has hired bankruptcy attorneys and … Read moreCalifornia Tasks PG&E Advisers With Delivering Plan in 60 Days

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Oil Extends Gain on Saudi Output Pledge, Trump Trade Flexibility

Oil pipe

Feb 13, 2019, by Sharon Cho (Bloomberg) Oil climbed for a second day after Saudi Arabia pledged to deepen production cuts and U.S. President Donald Trump said he might extend a deadline for additional tariffs on China. Futures in New York added as much as 1.2 percent after rising 1.3 percent Tuesday. The world’s biggest … Read moreOil Extends Gain on Saudi Output Pledge, Trump Trade Flexibility

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IEA Says Venezuela Crisis Risks Disrupting Global Crude Market

Feb 13, 2019, by Grant Smith (Bloomberg) The political crisis in Venezuela risks disrupting global crude markets as the type of oil pumped by the OPEC member becomes increasingly scarce, according to the International Energy Agency. The U.S., Venezuela’s biggest customer, is banning oil imports from the country as it condemns President Nicolas Maduro for … Read moreIEA Says Venezuela Crisis Risks Disrupting Global Crude Market

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Five Things to Know in World Business Today

Feb 13, 2019, by Lorcan Roche Kelly (Bloomberg) Flexibility President Donald Trump said he is open to extending the March 1 deadline to raise tariffs on Chinese imports if both sides are close to agreement by the end of the month. China’s President Xi Jinping is set to meet key members of the U.S. delegation … Read moreFive Things to Know in World Business Today

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US expects record domestic oil production in 2019, 2020

The U.S. says domestic oil production levels will reach new heights this year and next, and that prices will be lower than they were in 2018. The U.S. Energy Information Administration said Tuesday that it expects the United States to pump 12.4 million barrels of crude a day in 2019 and 13.2 million barrels a … Read moreUS expects record domestic oil production in 2019, 2020

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Minnesota governor sides with environmentalists on pipeline

ST. PAUL, Minn. — Minnesota Gov. Tim Walz said Tuesday that his administration will keep pursuing an appeal of an independent regulatory commission’s approval of Enbridge Energy’s plan to replace its aging Line 3 crude oil pipeline across in northern Minnesota, siding with environmental and tribal groups in his biggest and most controversial decision since … Read moreMinnesota governor sides with environmentalists on pipeline

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Republican leader says U.S. Senate will vote on Green New Deal

WASHINGTON (Reuters) – Republican Senate Leader Mitch McConnell said on Tuesday that the U.S. Senate will vote on a “Green New Deal” introduced by Democrats that seeks to eliminate U.S. greenhouse gas emissions within a decade. “I’ve noted with great interest the Green New Deal, and we’re going to be voting on that in the … Read moreRepublican leader says U.S. Senate will vote on Green New Deal

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EPA opts for single E15 rule after considering separating trading curbs

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. REUTERS/Jim Young

WASHINGTON (Reuters) – The U.S. Environmental Protection Agency has decided to release a single draft rule to expand sales of higher ethanol blends of gasoline and curb biofuel credit speculation, after having contemplated separating the measures, a senior official at the administration told Reuters on Tuesday. The EPA was thinking about releasing the measures separately … Read moreEPA opts for single E15 rule after considering separating trading curbs

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Column: Venezuela sanctions leave oil market short of heavy crude – Kemp

LONDON (Reuters) – U.S. sanctions on Venezuela’s state-owned oil company are tightening the global oil market and sending refiners around the world scrambling to find replacements for the country’s diesel-rich heavy and extra heavy crudes. Venezuela’s heavy crudes, such as Merey, have few close substitutes, with the nearest being grades such as Brazil’s Marlim, Mexico’s … Read moreColumn: Venezuela sanctions leave oil market short of heavy crude – Kemp

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Soaring U.S. Crude Oil Production Highlights OPEC’s Quandary

Rig Workers

Feb 12, 2019, by Stephen Cunningham (Bloomberg) U.S. crude output is accelerating, highlighting OPEC’s dilemma as the cartel reins in its own production to revive prices. Crude supply will average 12.41 million barrels a day this year and 13.2 million in 2020, the U.S. Energy Information Administration said on Tuesday, up more than 300,000 barrels … Read moreSoaring U.S. Crude Oil Production Highlights OPEC’s Quandary

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One of the oldest U.S. refineries in trouble again in Philadelphia: court filings

Philadelphia Oil Refinery

NEW YORK (Reuters) – Philadelphia Energy Solutions Inc, owner of the largest and oldest refinery on the U.S. East Coast, is facing another financial crisis just months after emerging from a controversial bankruptcy, according to two sources and a Reuters review of court filings. PES, which exited bankruptcy in August, saw its cash balance fall … Read moreOne of the oldest U.S. refineries in trouble again in Philadelphia: court filings

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Dominion aims to cut U.S. methane releases by 50 percent by 2030

(Reuters) – Dominion Energy Inc said on Tuesday it plans to cut the amount of methane escaping from its natural gas wells, pipelines and other infrastructure by 50 percent over the next decade as part of its effort to combat global warming. The company, one of the biggest U.S. power and gas utilities, held contests … Read moreDominion aims to cut U.S. methane releases by 50 percent by 2030

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California Puts Another Nail in Coffin for Fossil-Fuel Plants

Feb 12, 2019, by Mark Chediak (Bloomberg) Los Angeles will ditch a plan to spend billions rebuilding three natural gas-fired power plants as the city moves toward getting all of its electricity from renewable energy. The city will phase out the three units that together represent 38 percent of the city’s natural gas portfolio by … Read moreCalifornia Puts Another Nail in Coffin for Fossil-Fuel Plants

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OPEC Chief Urges Producers to Follow Through on Pledges to Cut

OPEC Secretary-General Mohammad Barkindo addresses a news conference in Vienna, Austria, November 7, 2017. REUTERS/Heinz-Peter Bader

Feb 12, 2019, by Grant Smith (Bloomberg) OPEC’s top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced. While the Organization of Petroleum Exporting Countries collectively made a strong start last month to a new round of output cuts, much … Read moreOPEC Chief Urges Producers to Follow Through on Pledges to Cut

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Chevron CEO Vows to Work With U.S. to Remain in Venezuela

Feb 12, 2019, by Kevin Crowley (Bloomberg) Chevron Corp., Chief Executive Officer Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiraling crisis that has led rival oil major Total SA to retreat. “Our strong intent is to stay on the ground in Venezuela and be part of building … Read moreChevron CEO Vows to Work With U.S. to Remain in Venezuela

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Big Oil’s Big Issue With Embracing ‘Big Energy’: Liam Denning

Big Oil

Feb 12, 2019, by Liam Denning (Bloomberg Opinion) Oil majors increasingly are trying their hand at being alternative-energy minors. Royal Dutch Shell Plc, which traces its roots back to the late 19th century, just bought Greenlots Global, a California software company serving the electric-vehicle charging sector. This follows other deals by Shell — along with the likes … Read moreBig Oil’s Big Issue With Embracing ‘Big Energy’: Liam Denning

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FERC Data Shows Substantial Renewable Growth Coming but Gas Still Dominating Today

February 12, 2019, by Kenneth Bossong (Renewable Energy World) According to an analysis by the SUN DAY Campaign of data just released by the Federal Energy Regulatory Commission (FERC), natural gas dominated new electrical generating capacity in 2018. However, renewable energy sources (i.e., biomass, geothermal, hydropower, solar, wind) seem poised to swamp fossil fuels as … Read moreFERC Data Shows Substantial Renewable Growth Coming but Gas Still Dominating Today

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Traders expect Cushing builds as refinery issues add to swelling supply

NEW YORK (Reuters) – U.S. crude traders are bracing for increasing supplies at Cushing, Oklahoma, the delivery point for benchmark crude futures, as unexpected refinery issues add to inventories that are already at the highest in more than a year. Inventories at Cushing rose to 42.6 million barrels in the week to Feb. 1, the … Read moreTraders expect Cushing builds as refinery issues add to swelling supply

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U.S. EPA may issue E15 gasoline plan without biofuel credit trade limits – sources

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. REUTERS/Jim Young

WASHINGTON (Reuters) – The U.S. Environmental Protection Agency is considering releasing its draft proposal to expand sales of higher ethanol blends of gasoline without including simultaneous measures it promised the oil industry to curb biofuel credit speculation, according to three sources familiar with the matter. The move would help the agency lift a summertime ban … Read moreU.S. EPA may issue E15 gasoline plan without biofuel credit trade limits – sources

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Saudi crude output to fall to 9.8 million bpd in March: Falih

Khalid Al-Falih, Saudi Arabia's energy and industry minister, arrives ahead of the 174th Organization Of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Friday, June 22, 2018. Photographer: Stefan Wermuth/Bloomberg

LONDON (Reuters) – Saudi Arabia plans to produce around 9.8 million barrels per day of oil in March, over half a million bpd below its pledged production level under a global supply-cutting deal, Energy Minister Khalid al-Falih told the Financial Times. Exports would fall in March to 6.9 million bpd, according to the article published … Read moreSaudi crude output to fall to 9.8 million bpd in March: Falih

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Phillips 66 Partners and Kinder Morgan Announce Open Season for Joint Transportation Service from West Texas to Houston

HOUSTON–(BUSINESS WIRE)–Phillips 66 Partners (NYSE: PXSP) and Kinder Morgan, Inc. (NYSE: KMI), announced today the start of a joint open season by Gray Oak Pipeline, LLC (Gray Oak) and Kinder Morgan Crude & Condensate LLC (KMCC) to provide shippers with long-term crude oil transportation from Gray Oak Pipeline origin points in the Permian Basin to … Read morePhillips 66 Partners and Kinder Morgan Announce Open Season for Joint Transportation Service from West Texas to Houston

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DCP Midstream Reports Fourth Quarter and Full Year Results and Announces 2019 Guidance

DENVER, Feb. 11, 2019 (GLOBE NEWSWIRE) — DCP Midstream, LP (NYSE: DCP), or DCP, today reported its financial results for the fourth quarter and year ended December 31, 2018, and announced its 2019 guidance. HIGHLIGHTS Reported net income attributable to partners of $94 million and $298 million for the quarter and year ended December 31, 2018, or … Read moreDCP Midstream Reports Fourth Quarter and Full Year Results and Announces 2019 Guidance

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Oil Rises From Two-Week Low Amid Deal to Avert U.S. Shutdown

Feb 12, 2019, by Grant Smith (Bloomberg) Oil rose from a two-week low as a tentative accord to prevent another U.S. government shutdown reassured investors and boosted financial markets. Crude futures rose 1.6 percent in New York, after sliding on Monday to the lowest settlement since Jan. 28. Congressional negotiators said Monday in Washington they … Read moreOil Rises From Two-Week Low Amid Deal to Avert U.S. Shutdown

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Oil’s Twilight? Here’s One Investor View on How It Plays Out

Feb 12, 2019, by Mathew Carr (Bloomberg) The global oil industry’s foundation of ever-expanding demand will probably crumble and that may hurt profits sooner than expected, according to a London fund manager. The sector faces stagnating demand within seven-to-ten years and that means it may lose the ability to bring itself back into balance when … Read moreOil’s Twilight? Here’s One Investor View on How It Plays Out

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Five Things to Know in World Business Today

Feb 12, 2019, by Lorcan Roche Kelly (Bloomberg) Two out of three ain’t bad Congressional Republican and Democrat negotiators reached an agreement on border security that would see $1.375 billion allocated to increased barriers along the frontier with Mexico. For the tentative deal to prove sufficient to avoid another partial government shutdown on Friday, President Donald Trump … Read moreFive Things to Know in World Business Today

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U.S. Sanctions Spark Surge in Venezuelan Oil Half the World Away

Feb 12, 2019, by Bloomberg News (Bloomberg) U.S. sanctions that have effectively blocked American imports of Venezuelan oil are leading to a crude-price surge thousands of miles away in China. State-run energy giant PetroChina Co. is selling Venezuelan Merey oil at a premium of about $5 a barrel to benchmark U.S. West Texas Intermediate, according … Read moreU.S. Sanctions Spark Surge in Venezuelan Oil Half the World Away

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U.S. solar jobs down for second year as Trump tariffs weigh

Solar Panels

LOS ANGELES (Reuters) – The number of jobs in the U.S. solar industry dropped by 3.2 percent in 2018, a second year of losses, as the Trump administration’s tariffs on foreign panels and state-level policy changes hit demand for installations, according to an industry report released on Tuesday. The job losses reflect how changing trade … Read moreU.S. solar jobs down for second year as Trump tariffs weigh

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Trump Urges Federally Owned Generator to Keep Coal Plant Alive

Imported coal is seen lifted by cranes from a coal cargo ship at a port in Lianyungang, Jiangsu province, China July 26, 2018. REUTERS/Stringer

Feb 11, 2019, by Will Wade (Bloomberg) President Donald J. Trump is lobbying a federally owned entity to keep a Kentucky coal-fired power plant operating. The Tennessee Valley Authority “should give serious consideration to all factors before voting to close viable power plants, like Paradise #3 in Kentucky!” Trump said in a tweet Monday. Senate … Read moreTrump Urges Federally Owned Generator to Keep Coal Plant Alive

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Fund buying slows on crude but Venezuela supports diesel: Kemp

LONDON (Reuters) – Hedge funds added more bullish positions in crude at the start of February but at a much slower pace than before, as optimism about OPEC output cuts was tempered by renewed anxiety about the U.S.-China trade talks. Hedge funds and other money managers increased their net long position in Brent crude futures … Read moreFund buying slows on crude but Venezuela supports diesel: Kemp

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Pennsylvania suspends all permit work for Energy Transfer

(Reuters) – Pennsylvania environmental regulators suspended all permit work for Energy Transfer LP after the company failed to comply with an October order following an explosion of the Revolution natural gas pipe in the western part of the state in September. The company said the Pennsylvania Department of Environmental Protection (DEP) action on Friday did … Read morePennsylvania suspends all permit work for Energy Transfer

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U.S. approves part of TransCanada Gulf XPress natgas pipe for service

(Reuters) – The Federal Energy Regulatory Commission said on Monday it approved a request by TransCanada Corp’s Columbia unit to put part of the company’s $600 million Gulf XPress natural gas pipeline into service in Kentucky, Mississippi and Tennessee. Gulf XPress is one of several pipelines designed to connect growing output in the Marcellus and … Read moreU.S. approves part of TransCanada Gulf XPress natgas pipe for service

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TransCanada’s Keystone pipeline still partly shut after Missouri leak

NEW YORK (Reuters) – TransCanada Corp said on Monday a stretch of its Keystone crude pipeline from Nebraska to Illinois remained shut after a leak was discovered in the area of St. Louis, Missouri, last week. The cause and source of the spill have not been determined and there is no estimated timeline for a … Read moreTransCanada’s Keystone pipeline still partly shut after Missouri leak

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Come Check Out the Ultimate Hydraulic Catwalk – Superior Rig Innovations

Come Check Out the Ultimate Hydraulic Catwalk Superior Rig Innovations is an Alberta company with a long history of technical innovation and peerless service in hydraulic and automated catwalks and they are expanding that legacy with another world’s best… “The Commander Catwalk”. Superior Rig opened its doors in 2017, but is an industry expert with over … Read moreCome Check Out the Ultimate Hydraulic Catwalk – Superior Rig Innovations

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Sanctions, OPEC cuts push Asia’s sour crude oil prices above Brent

SINGAPORE (Reuters) – Middle East oil benchmarks Dubai and DME Oman have nudged above prices for Brent crude, an unusual move as U.S. sanctions on Venezuela and Iran along with output cuts by OPEC tighten supply of medium to heavy sour oil, traders and analysts said. Sour crudes, mainly produced in the Middle East, Canada … Read moreSanctions, OPEC cuts push Asia’s sour crude oil prices above Brent

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OPEC does not fix oil prices – Barkindo

CAIRO, Feb 11 (Reuters) – OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of manipulating or fixing oil prices, when asked on Monday to comment on a U.S. House committee passing a bill targeting OPEC oil supply cuts. A U.S. House of Representatives committee approved a bill on Thursday that … Read moreOPEC does not fix oil prices – Barkindo

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Seismic surveys of U.S. Arctic refuge coastal plain delayed

ANCHORAGE, Alaska (Reuters) – There will be no seismic exploration this winter on the coastal plain of the Arctic National Wildlife Refuge, the Interior Department said on Friday, after the company seeking permission to conduct the tests ran out of time to get the required permit. “We can confirm that seismic surveys will not take … Read moreSeismic surveys of U.S. Arctic refuge coastal plain delayed

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COLUMN-Storytelling in oil and other markets: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) By John Kemp LONDON, Feb 8 (Reuters) – “Once upon a time …” Storytelling is one of the most fundamental human impulses. Humans have been telling stories for thousands of years as a means of entertainment but more importantly to help them … Read moreCOLUMN-Storytelling in oil and other markets: Kemp

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Donald Trump’s Cheap Oil Dream Can Still Come True: Julian Lee

Feb 9, 2019, by Julian Lee (Bloomberg Opinion) As winter keeps its grip on the northern hemisphere it is the oil bulls, not the bears, who have gone into hibernation. The price rally that greeted the new year has fizzled out as renewed concerns about demand growth outweigh the tightening of oil supply through OPEC … Read moreDonald Trump’s Cheap Oil Dream Can Still Come True: Julian Lee

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Range Announces 2018 Proved Reserves

FORT WORTH, Texas, Feb. 11, 2019 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that proved reserves at December 31, 2018 increased by 18% from the prior-year to 18.1 Tcfe. Highlights –    Year-end 2018 PV10 value of reserves using future strip prices was $9.9 billion Year-end 2018 SEC PV10 value of proved … Read moreRange Announces 2018 Proved Reserves

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VAALCO Energy Announces 76% Increase in Proved Reserves at Year-End 2018 and a 2019 Drilling Program to Include Up to Three Development Wells Funded With Cash on Hand and Cash From Operations

HOUSTON, Feb. 11, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY) today announced 2018 year-end reserves and plans for drilling in 2019. Highlights Produced an average of 3,750 barrels of oil per day (“BOPD”) net in 2018 and sold 1.44 million barrels of oil (“MMBO”) net to the Company in 2018 Increased year-end proved … Read moreVAALCO Energy Announces 76% Increase in Proved Reserves at Year-End 2018 and a 2019 Drilling Program to Include Up to Three Development Wells Funded With Cash on Hand and Cash From Operations

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PetroQuest Energy Announces Successful Completion of Financial Restructuring; Provides 2018 Estimated Proved Oil and Gas Reserves and Production

LAFAYETTE, La., Feb. 11, 2019 (GLOBE NEWSWIRE) — PetroQuest Energy, Inc. today announced that the conditions to effectiveness of the Company’s Chapter 11 Plan of Reorganization, which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on January 31, 2019, have been satisfied and the Company has emerged from bankruptcy.  … Read morePetroQuest Energy Announces Successful Completion of Financial Restructuring; Provides 2018 Estimated Proved Oil and Gas Reserves and Production

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Oil Near $52 After Worst Week Since December on Growth Concerns

Feb 11, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil slipped again, trading near $52 a barrel in New York after mounting concerns about the health of the global economy triggered the sharpest weekly price drop since December. Futures retreated 0.5 percent in New York, following a decline of 4.6 percent last week. U.S. … Read moreOil Near $52 After Worst Week Since December on Growth Concerns

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Five Things to Know in World Business Today

Feb 11, 2019, by Lorcan Roche Kelly (Bloomberg) Talks go nowhere With the clock ticking to avoid another partial government shutdown, talks over the weekend seeking an accord on border security broke down without agreement. President Donald Trump is due to go to El Paso, Texas, later today for a rally backing the construction of … Read moreFive Things to Know in World Business Today

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Oil Doubters Mount a Comeback as Rally Stalls on Global Worries

Feb 10, 2019, by Alex Nussbaum (Bloomberg) Hedge funds reversed course on oil just in time, plowing back into bearish bets as crude skidded into a wall of economic worries. In a shift from four weeks of retreat, short-sellers boosted by 28 percent their wagers that Brent prices would fall in the week ended Feb. … Read moreOil Doubters Mount a Comeback as Rally Stalls on Global Worries

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House Climate Panel Democrats Steeped in Energy Industry Cash

Feb 9, 2019, by Ari Natter and Bill Allison (Bloomberg) Democrats named to a newly revived House committee on climate change received hundreds of thousands of dollars in contributions from the oil, gas, and utility industries, campaign finance data show. In all, the nine Democratic members of the House Select Committee on the Climate Crisis, … Read moreHouse Climate Panel Democrats Steeped in Energy Industry Cash

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Oil market to reach balance in Q1: UAE energy minister

DUBAI (Reuters) – The oil market should reach a balance between supply and demand in the first quarter of this year, UAE Energy Minister Suhail Al Mazrouei told Al-Arabiya television on Monday. He said he was satisfied with the implementation of an agreement to cut supply by the Organization of the Petroleum Exporting Countries and … Read moreOil market to reach balance in Q1: UAE energy minister

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With Iran squeezed out, U.S. oil takes on new rivals in Europe

MOSCOW/NEW YORK (Reuters) – When the global oil trading industry gathered for its biggest annual meeting in Asia in September last year, U.S. oil producing companies came well prepared. U.S. giant Exxon Mobil and European rival Royal Dutch/Shell prepared brochures for oil buyers detailing various U.S. crude grades and why they were suitable to replace … Read moreWith Iran squeezed out, U.S. oil takes on new rivals in Europe

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Venezuela Oil Czar Courts India After $20 Billion Hit From U.S.

Feb 11, 2019, by Debjit Chakraborty and Dhwani Pandya (Bloomberg) Venezuela’s oil minister made a surprise appearance at an energy event in India, as the embattled OPEC producer seeks closer ties with major crude customers in the face of crippling U.S. sanctions. Manuel Quevedo said on Monday his nation wants to sell more crude to … Read moreVenezuela Oil Czar Courts India After $20 Billion Hit From U.S.

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No Sleep, Frantic Calls: PDVSA Scrambles to Survive U.S. Oil Ban

Feb 8, 2019, by Fabiola Zerpa and Lucia Kassai (Bloomberg) At Venezuela’s state oil company, desperation and chaos are setting in one week after the U.S. imposed a de facto ban on the country’s crude products. Working around the clock, employees are calling dozens of traders, some little known, in a search for new markets … Read moreNo Sleep, Frantic Calls: PDVSA Scrambles to Survive U.S. Oil Ban

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U.S. drillers add oil rigs for second week in three – Baker Hughes

Feb 8 (Reuters) – U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January. Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, General Electric Co’s Baker Hughes energy … Read moreU.S. drillers add oil rigs for second week in three – Baker Hughes

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COLUMN-Oil and economy poised between growth and recession: Kemp

FILE PHOTO: A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata, India November 27, 2013. REUTERS/Rupak De Chowdhuri/File Photo

(John Kemp is a Reuters market analyst. The views expressed are his own) * Cyclical indicators: tmsnrt.rs/2ULs8I8 By John Kemp LONDON, Feb 7 (Reuters) – Policymakers and analysts who claim the outlook is “unusually uncertain” are normally overstating their own forecasting problem and understating the difficulties faced by their predecessors. The outlook always looks more … Read moreCOLUMN-Oil and economy poised between growth and recession: Kemp

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Phillips 66 Reports Fourth-Quarter Earnings of $2.2 Billion or $4.82 Per Share

Adjusted earnings of $2.3 billion or $4.87 per share Highlights Fourth Quarter Delivered strong reported earnings and record adjusted earnings Generated $4.1 billion of operating cash flow, including $840 million from equity affiliates Returned $864 million to shareholders through dividends and share repurchases Achieved 99 percent Refining utilization and record market capture Generated record Midstream … Read morePhillips 66 Reports Fourth-Quarter Earnings of $2.2 Billion or $4.82 Per Share

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Noble Midstream and Salt Creek Midstream Close Delaware Basin Joint Venture

HOUSTON–(BUSINESS WIRE)–Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream”) and Salt Creek Midstream LLC (“Salt Creek”) today announced the closing of the previously announced 50/50 joint venture, Delaware Crossing LLC (“Delaware Crossing”). Delaware Crossing will provide crude oil gathering and transportation services and include a 95-mile pipeline in the southern Delaware Basin originating in Pecos … Read moreNoble Midstream and Salt Creek Midstream Close Delaware Basin Joint Venture

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Schlumberger Appoints Chief Operating Officer

Schlumberger

PARIS–(BUSINESS WIRE)–Schlumberger (NYSE:SLB) announced today that its Board of Directors has appointed Olivier Le Peuch as Chief Operating Officer of Schlumberger Limited, effective immediately. Reporting to Paal Kibsgaard, Chairman and Chief Executive Officer, Le Peuch will be responsible for the day-to-day management of all worldwide operations. Previously, Le Peuch was Executive Vice President Reservoir & … Read moreSchlumberger Appoints Chief Operating Officer

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Apache Announces 2019 Capital Budget and Production Outlook

Establishes 2019 upstream capital budget of $2.4 billion, 70 to 75 percent of which will be allocated within the United States Expects full-year 2019 total adjusted production to trend to the midpoint of previously disclosed guidance range of 410,000 to 440,000 barrels of oil equivalent (BOE) per day Projects 6 to 10 percent total adjusted … Read moreApache Announces 2019 Capital Budget and Production Outlook

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Phillips 66 Partners Reports Fourth-Quarter 2018 Earnings

Highlights Fourth Quarter Reported earnings of $221 million and adjusted EBITDA of $309 million Raised quarterly distribution by 5.4 percent to $0.835 per common unit Achieved five-year 30 percent distribution CAGR Record pipeline and terminal throughput volumes Commenced Sweeny to Pasadena products expansion project Full-Year 2018 Reported earnings of $796 million and adjusted EBITDA of … Read morePhillips 66 Partners Reports Fourth-Quarter 2018 Earnings

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Battery-Backed Solar Breaks Into Grid Long Seen Off Limits

Solar panel

Feb 7, 2019, by Brian Eckhouse and Christopher Martin (Bloomberg) Solar is breaking into a power market that’s long been the domain of big, conventional generators. A key reason: batteries. New England just approved 145 megawatts of solar systems to provide capacity to the local grid, according to a statement Wednesday, including some from Sunrun … Read moreBattery-Backed Solar Breaks Into Grid Long Seen Off Limits

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As N.Y.’s Wealthy Clamor for Gas, ConEd Puts Some on a Diet

Feb 8, 2019, by Jim Efstathiou Jr. (Bloomberg) One of New York’s wealthiest areas is hungry for natural gas and Consolidated Edison Inc. has come up with one solution: Get low- to moderate-income customers to conserve. Westchester County, just north of Manhattan, has been using so much gas that ConEd last month said it would … Read moreAs N.Y.’s Wealthy Clamor for Gas, ConEd Puts Some on a Diet

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OPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

Feb 7, 2019, by Firat Kayakiran (Bloomberg) It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the best news. While both those things happened in the past … Read moreOPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

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Five Things to Know in World Business Today

Feb 8, 2019, by Samuel Potter (Bloomberg) Here we go again Markets are having a rough time of it, after Europe practically gave up on the whole idea of economic momentum for the time being and Tariff Man said he won’t meet Chinese President Xi Jinping before the March 1 expiry of the current truce. Oh, and the trade cease-fire between … Read moreFive Things to Know in World Business Today

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Brent oil edges up, heads for weekly loss on slowdown worries

LONDON (Reuters) – Benchmark Brent oil inched up on Friday but was heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and … Read moreBrent oil edges up, heads for weekly loss on slowdown worries

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How the Green New Deal Almost Went Nuclear on Its First Day

Feb 8, 2019, by Ari Natter and Jennifer A. Dlouhy (Bloomberg) As Democrats unveiled their ambitious Green New Deal to fight climate change on Thursday, a controversy erupted over the role of nuclear power that threatened to undermine the whole effort. A fact sheet distributed by the office of progressive newcomer Alexandria Ocasio-Cortez, a Democratic … Read moreHow the Green New Deal Almost Went Nuclear on Its First Day

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Chevron Aligns Strategy With Paris Deal But Won’t Cap Output

Feb 7, 2019, by Kevin Crowley and Eric Roston (Bloomberg) Chevron Corp. vowed to cut greenhouse gas emissions in alignment with the Paris Accord on climate change, potentially averting a shareholder rebellion at its annual general meeting. The U.S. oil major pledged to reduce air pollution intensity by 25 to 30 percent by 2023, as … Read moreChevron Aligns Strategy With Paris Deal But Won’t Cap Output

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Anti-OPEC Bill Allowing U.S. to Sue Oil Cartel Moves Forward

Feb 7, 2019, by Stephen Cunningham (Bloomberg) Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress. The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, … Read moreAnti-OPEC Bill Allowing U.S. to Sue Oil Cartel Moves Forward

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Shell leads cash race but Exxon catching up

LONDON (Reuters) – Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil majors, more than tripled profits and doubled cash … Read moreShell leads cash race but Exxon catching up

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Valero seeks to maintain lawsuit against PG&E over refinery outage

By Jim Christie (Reuters) Refiner Valero Energy Corp is asking a bankruptcy court to allow its lawsuit against PG&E Corp over an emergency shutdown to move forward, arguing the $75 million case will not interfere with the power producer’s Chapter 11 proceeding. In a filing on Tuesday, Valero urged U.S. Bankruptcy Court Judge Dennis Montali … Read moreValero seeks to maintain lawsuit against PG&E over refinery outage

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Marathon Petroleum fourth-quarter oil throughput jumps 56 percent

(Reuters) – Marathon Petroleum Corp posted a 56 percent jump in the number of barrels of crude oil it processed per day during the fourth quarter and the U.S. refiner’s margins got a boost from cheap Canadian oil. Marathon has been processing large amounts of Canadian crude at its refineries in the U.S. Midwest as … Read moreMarathon Petroleum fourth-quarter oil throughput jumps 56 percent

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California utility PG&E vows more power shutdowns to prevent wildfire

SACRAMENTO, Calif. (Reuters) – California utility PG&E Corp plans to increase the controversial practice of shutting off the power to communities at risk of wildfire when dangerous conditions such as high winds and dry heat are present. In a report to state regulators bit.ly/2SevTIZ, PG&E said it would also remove 375,000 trees near electricity lines, … Read moreCalifornia utility PG&E vows more power shutdowns to prevent wildfire

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PG&E Submits 2019 Wildfire Safety Plan; With Additional Safety Precautions and Significantly Expanded Public Safety Power Shutoff Program

SAN FRANCISCO–(BUSINESS WIRE)–As part of its ongoing commitment to reducing wildfire risk, Pacific Gas and Electric Company (PG&E) today submitted its 2019 Wildfire Safety Plan to the California Public Utilities Commission. The safety plan marks an expansion of enhanced and additional safety precautions PG&E began implementing in 2017 and 2018 to address the growing threat … Read morePG&E Submits 2019 Wildfire Safety Plan; With Additional Safety Precautions and Significantly Expanded Public Safety Power Shutoff Program

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National Oilwell Varco Reports Fourth Quarter and Full Year 2018 Results

HOUSTON–(BUSINESS WIRE)–National Oilwell Varco, Inc. (NYSE: NOV) today reported fourth quarter 2018 revenues of $2.40 billion, an increase of 11 percent compared to the third quarter of 2018 and an increase of 22 percent from the fourth quarter of 2017. Operating profit for the fourth quarter of 2018 was $87 million, or 3.6 percent of … Read moreNational Oilwell Varco Reports Fourth Quarter and Full Year 2018 Results

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Baker Hughes, a GE company Announces January 2019 Rig Counts

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for January 2019 was 1,023, down 2 from the 1,025 counted in December 2018, and up 63 from the 960 counted in January 2018. The international offshore rig count for January 2019 was 241, up 7 from … Read moreBaker Hughes, a GE company Announces January 2019 Rig Counts

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Contango Announces Officer Departures

HOUSTON, Feb. 06, 2019 (GLOBE NEWSWIRE) — Contango Oil & Gas Company (NYSE American: MCF) (“Contango,” the “Company,” “we” or “us”) announced today that Thomas H. Atkins, Senior Vice President – Exploration, and J. Stephen Mengle, Senior Vice President – Operations & Engineering, have left the Company effective February 4, 2019 to pursue other interests.  … Read moreContango Announces Officer Departures

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United States becomes top source for Britain’s oil imports

February 6, 2019, by Reuters * Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed. * The United States lifted an oil export ban in 2015. * British imports of U.S. … Read moreUnited States becomes top source for Britain’s oil imports

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Oil Steady Near $54 as Fuel-Inventory Drop Tempers Economy Angst

Oil pipe

Feb 7, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil steadied near $54 a barrel as a decline in American fuel inventories signaled that demand remains healthy despite ongoing concerns about the global economy. Inventories of winter fuel in the U.S. fell more than expected last week as cold polar air blasted the nation, … Read moreOil Steady Near $54 as Fuel-Inventory Drop Tempers Economy Angst

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Five Things to Know in World Business Today

Feb 7, 2019, by Samuel Potter (Bloomberg) Shutdown countdown Every big media organization needs a wall full of clocks, usually to check the time across the world’s major cities. It’s no different at Five Things’ global HQ (Bloomberg basement level 2, left after the stationery supplies), except ours are countdown clocks. They count down to … Read moreFive Things to Know in World Business Today

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TransCanada’s Keystone oil pipeline shut after possible leak near St. Louis: traders

(Reuters) – A part of TransCanada Corp’s Keystone oil pipeline was shut on Wednesday after a possible leak in the St Louis, Missouri, area, according to three sources familiar with the matter. It was unclear, however, if the leak was from the Keystone pipeline itself, traders said, adding that the Steele-City-to-Patoka line was shut. “The … Read moreTransCanada’s Keystone oil pipeline shut after possible leak near St. Louis: traders

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What Crash? Big Oil Proves the Crude Price Is Just a Number

Pump Jack

Feb 7, 2019, by Kelly Gilblom and Rakteem Katakey (Bloomberg) The crude market had its worst quarter in four years but you wouldn’t be able to tell by looking at Big Oil’s stellar earnings numbers. The world’s five largest publicly traded oil companies exceeded analyst expectations, in some cases obliterating them. The result lends credibility … Read moreWhat Crash? Big Oil Proves the Crude Price Is Just a Number

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Long, strange trip: How U.S. ethanol reaches China tariff-free

NEW YORK/KUALA LUMPUR (Reuters) – In June, the High Seas tanker ship loaded up on ethanol in Texas and set off for Asia. Two months later – after a circuitous journey that included a ship-to-ship transfer and a stop in Malaysia – its cargo arrived in China, according to shipping data analyzed by Reuters and … Read moreLong, strange trip: How U.S. ethanol reaches China tariff-free

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U.S. oil, gasoline inventories up in latest week: EIA

(Reuters) – U.S. crude stocks rose less than expected last week, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 1.3 million barrels in the week ended Feb. 1, compared with analysts’ expectations for an increase of 2.2 million barrels. Crude stocks at the Cushing, … Read moreU.S. oil, gasoline inventories up in latest week: EIA

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Early Version of Ocasio-Cortez Green New Deal Touts Clean Power

Feb 6, 2019, by Ari Natter and Katia Dmitrieva (Bloomberg) Guaranteed jobs, health care, and housing are in a draft of the Green New Deal environmental package set to be unveiled by Democrats this week, but the proposal doesn’t explicitly include the ban on fossil fuels called for by some supporters. Instead, the draft of … Read moreEarly Version of Ocasio-Cortez Green New Deal Touts Clean Power

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Texas-Size Glut of Frack Sand Accumulating as Demand Weakens

Feb 6, 2019, by David Wethe (Bloomberg) Just a year after rushing into America’s busiest oil field with new mines, frack-sand producers may have overdone it. West Texas sand used in the hydraulic fracturing process will drop 19 percent this year to about $30 a ton compared to 2018, according to industry consultant Rystad Energy … Read moreTexas-Size Glut of Frack Sand Accumulating as Demand Weakens

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Crude stockpiles at Cushing climb to highest in over a year: EIA

NEW YORK (Reuters) – Crude stockpiles at Cushing, Oklahoma, the delivery point for U.S. oil futures, last week rose by 1.4 million barrels to 42.6 million barrels, the highest since Jan. 2018, the Energy Information Administration said on Wednesday. Meanwhile, weekly U.S. Gulf coast commercial crude oil imports last week dropped by 371,000 barrels per … Read moreCrude stockpiles at Cushing climb to highest in over a year: EIA

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The 2019 Global Petroleum Show Strategic and Technical Conference Program is now available!

Thought leaders from the global oil and gas value chain unite with the finance community and policymakers to address the most critical issues affecting the industry today. On the cusp of new age for our industry, we must rethink how and where we operate. Now is the time to embrace change and put strategies and … Read moreThe 2019 Global Petroleum Show Strategic and Technical Conference Program is now available!

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ExxonMobil Announces Two New Discoveries Offshore Guyana

ExxonMobil said today it made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12. The discoveries build on the previously announced estimated recoverable resource of more than 5 billion oil-equivalent barrels on the Stabroek block. Tilapia-1 is the fourth discovery in … Read moreExxonMobil Announces Two New Discoveries Offshore Guyana

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Southwestern Energy Announces 2019 Guidance

Lower, fully-funded capital program with leading operational execution and longer lateral lengths driving capital efficiency higher SPRING, Texas–(BUSINESS WIRE)–Southwestern Energy Company (NYSE: SWN) today announced 2019 production, capital and cost guidance. This guidance is based on maximizing shareholder value assuming $2.85 per MMBtu NYMEX Henry Hub and $50 per barrel WTI commodity price environment in … Read moreSouthwestern Energy Announces 2019 Guidance

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Plains All American Pipeline, L.P. and Plains GP Holdings Report Fourth-Quarter and Full-Year 2018 Results

Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP Holdings (NYSE: PAGP) today reported fourth-quarter and full-year 2018 results. Fourth-Quarter and Full-Year 2018 Highlights Delivered 4Q and full-year 2018 financial and operating results ahead of expectations Executed Permian-focused capital program, including early completion of Sunrise Expansion Actively developed additional growth capital projects Significantly advanced … Read morePlains All American Pipeline, L.P. and Plains GP Holdings Report Fourth-Quarter and Full-Year 2018 Results

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SoCalGas says natural gas may be curtailed due to cold snap

(Reuters) – Southern California Gas (SoCalGas) on Tuesday warned it may have to curtail natural gas supplies and reiterated its plea to customers to use less of the fuel until further notice to avoid straining its system as cold weather blankets its service area. The company issued a system-wide curtailment watch, which puts customers on … Read moreSoCalGas says natural gas may be curtailed due to cold snap

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Anadarko profit misses as costs rise sharply

(Reuters) – Oil and gas producer Anadarko Petroleum Corp on Tuesday reported a fourth-quarter profit that missed analysts’ estimates by a wide margin, as it spent more on its projects in West Texas and northeast Colorado. Oil producers, betting on a recovery in oil prices since their slump in 2014, have ramped up production in … Read moreAnadarko profit misses as costs rise sharply

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Oil Extends Loss on Economic Outlook and U.S. Inventory Concerns

Feb 6, 2019, by Tsuyoshi Inajima (Bloomberg) Oil extended losses below $54 a barrel on signs of a weakening economy and an industry report pointing to rising U.S. crude inventories. Futures in New York fell as much as 0.6 percent after a 1.7 percent drop on Tuesday. A gauge of demand for U.S. service industries … Read moreOil Extends Loss on Economic Outlook and U.S. Inventory Concerns

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Five Things to Know in World Business Today

Feb 6, 2019, by Lorcan Roche Kelly (Bloomberg) Not yielding President Donald Trump’s State of the Union address talked up bipartisanship, while sticking with White House demands to build a border wall and calling for an end to “partisan investigations.” Trump reiterated a trade deal with China would need to include structural change on the Asian … Read moreFive Things to Know in World Business Today

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Bet everything on electric: Inside Volkswagen’s radical strategy shift

Volkswagen Electric Car

WOLFSBURG, Germany (Reuters) – If Volkswagen realizes its ambition of becoming the global leader in electric cars, it will be thanks to a radical and risky bet born out of the biggest calamity in its history. The German giant has staked its future, to the tune of 80 billion euros ($91 billion), on being able … Read moreBet everything on electric: Inside Volkswagen’s radical strategy shift

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OPEC’s Oil Exports to U.S. Fall to Five-Year Low in January

Feb 6, 2019, by Mike Jeffers (Bloomberg) Less foreign oil is reaching American shores, as OPEC production cuts kick in and U.S. sanctions on Venezuela curb its exports. Crude shipments to the U.S. from OPEC and its partners fell to 1.41 million barrels a day in January, the lowest in five years, according to data … Read moreOPEC’s Oil Exports to U.S. Fall to Five-Year Low in January

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Loss of Venezuelan oil exports won’t leave huge gap in global market

LONDON (Reuters) – There is ample spare capacity in other oil producers and strategic reserves to compensate for a loss of Venezuela’s crude exports, helping explain the tepid reaction of global oil prices to U.S. sanctions announced a week ago. Venezuela exports around 1 million barrels of oil per day, about 1 percent of global … Read moreLoss of Venezuelan oil exports won’t leave huge gap in global market

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Trump Touts U.S. as Net Energy Exporter — But He’s a Bit Early

Oil Plant Worker

Feb 6, 2019, by Jennifer A. Dlouhy (Bloomberg) President Donald Trump used his State of the Union address Tuesday night to tout “a revolution in American energy” that has made the U.S. “a net exporter” — but some of his celebration might be premature. Although the U.S. briefly became a net petroleum exporter during one … Read moreTrump Touts U.S. as Net Energy Exporter — But He’s a Bit Early

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Rice founders rebuke gas producer EQT, pressing case for new board, CEO

HOUSTON, Feb 5 (Reuters) – The founders of Rice Energy on Tuesday outlined a plan to turn around EQT Corporation, rebuking its performance a year and a half after the two companies merged and proposing it replace its chief executive officer and board. Appalachian-focused EQT acquired rival Rice Energy for $6.7 billion in mid-2017, making … Read moreRice founders rebuke gas producer EQT, pressing case for new board, CEO

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For sale in Texas: natural gas at record low price

(Reuters) – Next-day natural gas prices for Tuesday at the Waha hub in the Permian basin in West Texas tumbled almost 90 percent to a record low as demand declined with moderating weather and pipeline constraints limited the amount of fuel that can leave the region. Spot prices at the Waha hub collapsed to an … Read moreFor sale in Texas: natural gas at record low price

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Exxon, Qatar Bet on U.S. Gas Export With $10 Billion Project

Feb 5, 2019, by Stephen Cunningham, Rachel Adams-Heard and Kevin Crowley (Bloomberg) Exxon Mobil Corp. and Qatar Petroleum are officially moving forward with a $10 billion liquefied natural gas export terminal in Texas, the latest in a series of massive projects designed to send U.S. shale supplies to growing markets across the globe. U.S. Energy … Read moreExxon, Qatar Bet on U.S. Gas Export With $10 Billion Project

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Trump’s Refiner Squeeze: Venezuela Sanctions, Keystone Failure

Donald Trump

Feb 5, 2019, by Jennifer A. Dlouhy and Rachel Adams-Heard (Bloomberg) U.S. refiners are eager to buy Canadian heavy crude to replace supplies they had been importing from Venezuela that are now blocked by Trump administration sanctions. But there’s not enough space on pipelines and trains to get it across the border. TransCanada Corp.’s proposed … Read moreTrump’s Refiner Squeeze: Venezuela Sanctions, Keystone Failure

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Chevron Announces Senior Leadership Appointments

SAN RAMON, Calif., Feb. 4, 2019 – Chevron Corporation (NYSE:CVX) today named Pierre Breber vice president and chief financial officer, effective April 1, 2019. Breber replaces Patricia Yarrington who has elected to retire after 38 years of extraordinary service with the company. In related moves, Mark Nelson, currently vice president Midstream, Strategy & Planning, will … Read moreChevron Announces Senior Leadership Appointments

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Blackstone Energy Partners Announces Its Partnership with Waterfield Midstream – a Permian Basin Oil & Gas Water Management Platform

THE WOODLANDS, Texas & NEW YORK–(BUSINESS WIRE)–Today, Blackstone (NYSE:BX) (“Blackstone”) announced that funds managed by Blackstone Energy Partners L.P. have formed Waterfield Midstream (“Waterfield”), a full-cycle provider of water management services, including water gathering, treatment, recycling and disposal, to provide solutions to producers in the Permian Basin. Waterfield is Blackstone’s water midstream platform in the … Read moreBlackstone Energy Partners Announces Its Partnership with Waterfield Midstream – a Permian Basin Oil & Gas Water Management Platform

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Extreme U.S. natural gas volatility to ease after winter: analysts

Refinery

(Reuters) – The most extreme period of volatility in U.S. natural gas futures in nearly 10 years is set to a close as the winter weather turns warmer, but not before the wild price swings caused one trading firm to collapse. While some firms took losses, the volatility likely helped others make money — something … Read moreExtreme U.S. natural gas volatility to ease after winter: analysts

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Biofuels group Growth Energy sues U.S. EPA over small refinery exemptions

WASHINGTON (Reuters) – Biofuels group Growth Energy filed a federal lawsuit against the U.S. Environmental Protection Agency on Monday, challenging the agency’s renewable fuel mandate for 2019 as failing to address rising waived biofuel volumes. “EPA’s inaction on addressing lost gallons due to small refinery exemptions in this rulemaking is a clear violation of law,” Growth … Read moreBiofuels group Growth Energy sues U.S. EPA over small refinery exemptions

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Public use and private profit: U.S. landowners question forced purchases

WASHINGTON (Thomson Reuters Foundation) – The Jones farm in Giles County, Virginia, has been in the family for 250 years. But a natural gas pipeline could soon cut a corridor through the property, despite the family’s attempts to thwart it. A pipeline company was able to take a strip of the Jones’ land with government … Read morePublic use and private profit: U.S. landowners question forced purchases

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Lightsource BP to build U.S. university solar project

LONDON (Reuters) – Lightsource BP, Europe’s biggest solar energy developer, will build a 70 megawatt (MW) solar project for Penn State university in Pennsylvania, the company said on Tuesday. ** The project is expected to be complete by July 2020 and will provide around 25 percent of the university’s state-wide electricity demands for 25 years, … Read moreLightsource BP to build U.S. university solar project

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In squeezed oil industry, some rethink hunt for new barrels

LONDON (Reuters) – New partnerships are emerging in the global hunt for oil discoveries, with some explorers essentially offering an outsourcing service for the riskiest part of the energy business. Central to this new strategy are efforts to find an ally earlier in the process of discovering new fields, and on a larger scale, in … Read moreIn squeezed oil industry, some rethink hunt for new barrels

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SoCalGas urges natgas conservation during California cold snap

Natural Gas

(Reuters) – Southern California Gas (SoCalGas) over the weekend urged customers to use less natural gas until further notice to avoid straining its system as colder weather covers its service area. Gas supplies have been tight in Southern California this winter because of limitations on several SoCalGas pipelines and reduced availability of the utility’s biggest … Read moreSoCalGas urges natgas conservation during California cold snap

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Rosneft puts book value of three Venezuela project stakes at $2.1 billion

MOSCOW (Reuters) – Russian oil producer Rosneft estimates the book value of stakes it holds in three oil projects in Venezuela at 138 billion rubles ($2.11 billion), a financial report it published on Tuesday showed. The book value was given for Rosneft shares in Petromonagas, Petrovictoria and the Junin 6 project. Rosneft also has shares … Read moreRosneft puts book value of three Venezuela project stakes at $2.1 billion

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Iran criticizes Greece, Italy for not buying its oil despite U.S. waivers

LONDON (Reuters) – Iran’s oil minister on Tuesday criticized Greece and Italy for not buying its oil despite U.S. waivers and said they had not offered Tehran any explanation for their decision. The United States granted the two countries exemptions along with six others – Turkey, China, India, Japan, South Korea and Taiwan – allowing … Read moreIran criticizes Greece, Italy for not buying its oil despite U.S. waivers

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Five Things to Know in World Business Today

Feb 5, 2019  by Lorcan Roche Kelly (Bloomberg) SOTU Donald Trump’s State of the Union address to Congress later today promises to be the most dramatic in years, with the president hinting that he may declare a national emergency to secure funding for a border wall. Democrats have selected recent Georgia gubernatorial candidate Stacey Abrams to … Read moreFive Things to Know in World Business Today

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Company gets water permit for refinery near national park

BISMARCK, N.D. — A company facing opposition from environmentalists and landowners as it works to build an $800 million oil refinery near Theodore Roosevelt National Park in western North Dakota has cleared another hurdle by obtaining a state water permit, though the matter could still end up in state court. State Engineer Garland Erbele on … Read moreCompany gets water permit for refinery near national park

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Oil Pares Gain as Traders Weigh OPEC Cuts Versus U.S. Stockpiles

Oil pipe

Feb 5, 2019, by Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil erased its earlier gains as traders weighed output cuts from OPEC and its allies against expectations for rising U.S. crude inventories. Futures in New York traded 0.3 percent lower, reversing an earlier increase of as much as 1.2 percent. Russia curbed output by 47,000 … Read moreOil Pares Gain as Traders Weigh OPEC Cuts Versus U.S. Stockpiles

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BP Surges as Profit Exceeds Expectations and Returns Get a Boost

Feb 5, 2019, by Kelly Gilblom (Bloomberg) BP Plc joined its Big Oil peers by giving investors a positive surprise, exceeding profit estimates and earning better returns than its closest European rival. Shares surged by the most in almost three years. New projects delivered an increase in oil and gas output, while the company also … Read moreBP Surges as Profit Exceeds Expectations and Returns Get a Boost

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Oil Supermajors’ Torrent of Cash Earns Love From Investors

Big Oil

Feb 5, 2019, by Rakteem Katakey and Kelly Gilblom (Bloomberg) The world’s biggest oil companies are pumping out cash like crude’s at $100 a barrel again, and investors love it. Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp. and BP Plc smashed analysts’ earnings estimates for the fourth quarter, giving investors assurance that their … Read moreOil Supermajors’ Torrent of Cash Earns Love From Investors

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U.S. shale service costs coming down, BP upstream boss says

Permian Basin Shale

LONDON, Feb 5 (Reuters) – Oil and gas operating costs in the U.S. shale basins have come down recently following a drop in crude prices, BP’s head of upstream Bernard Looney said on Tuesday. Costs of drilling, labour and materials such as sand in shale fields rose last year amid a surge in output, particularly … Read moreU.S. shale service costs coming down, BP upstream boss says

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U.S., Qatar energy ministers to announce Qatari investment in U.S.: Energy Department

WASHINGTON (Reuters) – The U.S. energy secretary, his Qatari counterpart and representatives of Exxon Mobil and the Golden Pass liquefied natural gas facility will announce a Qatari investment in the United States on Tuesday, the Department of Energy said on Monday. No other details were immediately available. But Reuters reported on Feb. 1 that Qatar … Read moreU.S., Qatar energy ministers to announce Qatari investment in U.S.: Energy Department

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Oil Tankers Float in Limbo as U.S. Bars Venezuela Payments

Feb 4, 2019, by Jennifer A. Dlouhy (Bloomberg) U.S. oil refiners won’t be allowed to complete shipments of Venezuelan crude they booked before the Trump administration slapped new sanctions on the Latin American nation. U.S. Treasury Department officials have informed some companies that previously contracted cargoes won’t be exempt from a new rule blocking payments … Read moreOil Tankers Float in Limbo as U.S. Bars Venezuela Payments

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Russia complying with global deal to cut oil output: energy minister

MOSCOW (Reuters) – Russia is complying fully with its pledge to cut oil production gradually, Energy Minister Alexander Novak said on Monday. He said Russian oil production decreased by 47,000 barrels per day (bpd) in January from October, the baseline for the global deal aimed at reducing oil supply. “Russia is completely fulfilling its obligations … Read moreRussia complying with global deal to cut oil output: energy minister

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Schlumberger scraps bid for stake in Russia’s Eurasia Drilling

Schlumberger

MOSCOW (Reuters) – U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia’s Eurasia Drilling Company (EDC) Russia’s Federal Anti-monopoly Service (FAS) said on Monday. Schlumberger, which has its own business in Russia, said last month it would withdraw its application to buy a stake in EDC if it didn’t get … Read moreSchlumberger scraps bid for stake in Russia’s Eurasia Drilling

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Volkswagen to Use Tesla Batteries at U.S. Car-Charging Stations

Volkswagen Electric Car

Feb 4, 2019, by Brian Eckhouse (Bloomberg) Tesla Inc.’s battery systems will be installed at more than 100 electric-vehicle U.S. charging stations this year. Electrify America, created by Volkswagen AG as part of a settlement from the automaker’s emissions-cheating scandal, said in an emailed statement Monday that it plans to add the Tesla Powerpack systems … Read moreVolkswagen to Use Tesla Batteries at U.S. Car-Charging Stations

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EPA Chief Says Agency, California `Far Apart’ on Car Emissions

Feb 4, 2019, by Ryan Beene and Jennifer A. Dlouhy (Bloomberg) The Trump administration and California clean-air officials remain “pretty far apart” in their bid to strike an agreement on automobile fuel economy and greenhouse gas emissions rules as federal regulators race to finalize a key proposal for the auto industry, the U.S. EPA chief … Read moreEPA Chief Says Agency, California `Far Apart’ on Car Emissions

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Tesla Buying Battery Firm for $218 Million to Speed Charging

FILE PHOTO: A Tesla sales and service center is shown in Costa Mesa, California, U.S. June 28, 2018. REUTERS/Mike Blake/File Photo

Feb 4, 2019, by Anthony Palazzo and David Welch (Bloomberg) Tesla Inc. agreed to acquire battery-technology company Maxwell Technologies Inc. for about $218 million in stock, as Elon Musk adds expertise in capacitors that could speed up electric-car charging. The purchase price of $4.75 a share, announced by Maxwell in a statement on Monday, amounts … Read moreTesla Buying Battery Firm for $218 Million to Speed Charging

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