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Hess posts surprise profit on higher Bakken, Gulf of Mexico output

(Reuters) – Hess Corp reported a surprise profit on Thursday, supported by higher production at the U.S. oil and gas producer’s oilfields in the Bakken shale and Gulf of Mexico regions. The company said production from Bakken rose 17 percent to 130,000 barrels of oil equivalent per day (boe/d), while output from its offshore Gulf … Read moreHess posts surprise profit on higher Bakken, Gulf of Mexico output

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EQT Investor Sues to Block Driller From Undercutting Slate

Apr 25, 2019, 11:37:36 AM, by Scott Deveau and Rachel Adams-Heard (Bloomberg) — The shareholder seeking to shake up EQT Corp. has filed a lawsuit accusing the gas driller of trying to create an uneven playing field in the company’s ongoing boardroom battle. Investor Toby Rice alleges EQT is taking the unusual step of requiring nominees … Read moreEQT Investor Sues to Block Driller From Undercutting Slate

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Trump Said to Push Offshore Oil Expansion to After 2020 Election

Apr 25, 2019, by Jennifer A. Dlouhy (Bloomberg) The Trump administration is delaying its bid to expand oil drilling to new U.S. waters until after the 2020 election in response to opposition from coastal Republicans and a legal defeat, according to two people briefed on the matter. Administration officials are worried that the president and … Read moreTrump Said to Push Offshore Oil Expansion to After 2020 Election

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Hess Reports Estimated Results for the First Quarter of 2019

April 25, 2019 Business Wir Financial and Operational Highlights: Net income was $32 million, or $0.09 per common share, compared with a net loss of $106 million, or $0.38 per common share (adjusted net loss of $72 million, or $0.27 per common share) in the first quarter of 2018 Oil and gas production averaged 278,000 barrels … Read moreHess Reports Estimated Results for the First Quarter of 2019

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General Mills inks 200-MW Clean Energy PPA for Texas wind power

Wind Turbine

April 25, 2019, by Rod Walton (Renewable Energy World) Minnesota-based food producer General Mills’ recipe for future energy use is investing big in wind power for the next decade and beyond. The company this week announced it had signed a virtual 15-year power purchase agreement (PPA) with Roaring Fork Wind LLC, a joint venture between … Read moreGeneral Mills inks 200-MW Clean Energy PPA for Texas wind power

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Lilis Energy Achieves First Quarter 2019 Production Guidance and Provides Operational Update

April 25, 2019 Globe Newswire HOUSTON, April 25, 2019 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX), an exploration and production company operating in the Permian Basin of West Texas and southeastern New Mexico, today announced certain operating and financial results for the first quarter of 2019. Highlights include: Oil production of 3,530 Bop/d, … Read moreLilis Energy Achieves First Quarter 2019 Production Guidance and Provides Operational Update

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Occidental tries to outbid Chevron for Anadarko Petroleum

April 24, 2019 NEW YORK – A bidding war is breaking out over Anadarko Petroleum, with Occidental making an offer that it says is about a 20% premium to Chevron’s deal announced earlier this month, a rare move not often seen in the U.S. oil industry. Houston-based Occidental Petroleum Corp. said the proposed combination would … Read moreOccidental tries to outbid Chevron for Anadarko Petroleum

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U.S. biofuel trade group asks judge to halt new EPA small refinery waivers: documents

NEW YORK (Reuters) – A U.S. biofuels trade group asked a federal court on Wednesday to stop the Environmental Protection Agency from giving refiners new waivers from the country’s biofuels law until the agency reverts to the tougher criteria it used to assess applications before Donald Trump’s presidency, according to court papers. The waivers can … Read moreU.S. biofuel trade group asks judge to halt new EPA small refinery waivers: documents

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Valero Energy Reports First Quarter 2019 Results

Reported net income attributable to Valero stockholders of $141 million, or $0.34 per share. Returned $411 million in cash, or 55 percent of adjusted cash flow from operating activities, to stockholders through dividends and stock buybacks. Completed a $1 billion public debt offering at a coupon of 4 percent. Created a new renewable diesel segment, … Read moreValero Energy Reports First Quarter 2019 Results

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Oil States Announces First Quarter 2019 Results of Operations

HOUSTON, April 24, 2019 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE: OIS) reported a net loss for the first quarter of 2019 of $14.6 million, or $0.25 per diluted share on revenues of $250.6 million and Consolidated EBITDA (Note A) of $21.4 million. The reported first quarter 2019 results included severance charges totaling $1.0 million ($0.8 million after-tax, or … Read moreOil States Announces First Quarter 2019 Results of Operations

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Brent Crude Oil Rises to $75 on Iran Risk, Russia Supply Outage

Apr 25, 2019, by Alex Longley (Bloomberg) Brent crude reached $75 a barrel for the first time since October as the U.S. decision to remove Iran sanctions waivers combined with a drop in Russian flows to fuel supply fears. Futures in London rose as much as 1.4 percent, gaining for a fifth session. Saudi Arabia … Read moreBrent Crude Oil Rises to $75 on Iran Risk, Russia Supply Outage

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‘Don’t shoot yourself in the foot’: Inside Mexico’s campaign to save NAFTA

MEXICO CITY (Reuters) – In April 2017, a group of Mexican executives filed into the Texas governor’s mansion in Austin for a meeting they hoped would help save a trillion-dollar trade deal. They had a simple pitch for their audience – Republican Governor Greg Abbott, a handful of business leaders and some party donors: it … Read more‘Don’t shoot yourself in the foot’: Inside Mexico’s campaign to save NAFTA

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CVR Energy Reports First Quarter 2019 Results and Announces Cash Dividend of 75 Cents

April 24, 2019 16:17 ET | Source: CVR Energy, Inc. SUGAR LAND, Texas, April 24, 2019 (GLOBE NEWSWIRE) — CVR Energy, Inc. (NYSE: CVI) today announced net income of $101 million, or $1.00 per diluted share, on net sales of $1,486 million for the first quarter of 2019, compared to net income of $60 million, or 69 … Read moreCVR Energy Reports First Quarter 2019 Results and Announces Cash Dividend of 75 Cents

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Now Tesla Isn’t Even Among Top Two Players in U.S. Rooftop Solar

Tesla Solar Panels

Apr 24, 2019, by Brian Eckhouse (Bloomberg) A year ago, Tesla Inc. lost its throne as king of the U.S. rooftop solar business to Sunrun Inc. Now, it may get relegated to third place. Tesla reported on Wednesday that it deployed just 47 megawatts in the first quarter, down from 73 megawatts a year earlier … Read moreNow Tesla Isn’t Even Among Top Two Players in U.S. Rooftop Solar

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Russian Oil to Parts of Europe Halted Due to Contamination

Apr 25, 2019, by Aliaksandr Kudrytski and Maciej Martewicz (Bloomberg) Russian oil flows to parts of Europe were halted after customers complained of unusual impurities in the crude, adding another disruption to the global oil market and pushing prices in London above $75 a barrel. Poland, which receives oil through a northern section of the … Read moreRussian Oil to Parts of Europe Halted Due to Contamination

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Martin Midstream Partners Announces Strategic Initiatives

Reports First Quarter 2019 Financial Results and Cash Distribution April 24, 2019  | Source: Martin Midstream Partners L.P. KILGORE, Texas, April 24, 2019 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (Nasdaq:MMLP) (the “Partnership”) announced today strategic initiatives designed to strengthen the balance sheet by reducing leverage and allowing the Partnership to retain earnings to fund growth … Read moreMartin Midstream Partners Announces Strategic Initiatives

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EQT Reports First Quarter 2019 Results

New management team delivers strong operational improvements and significant free cash flow generation in consecutive quarters PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today announced financial and operational performance results for the first quarter 2019. First Quarter Highlights: Sales volumes of 383 Bcfe exceeded guidance of 360-380 Bcfe and increased 13%, adjusted for divestitures, from the first … Read moreEQT Reports First Quarter 2019 Results

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Hess Midstream Partners Announces Plan to Expand Natural Gas Processing Capacity

HOUSTON–(BUSINESS WIRE)–Hess Midstream Partners LP (NYSE:HESM) (“Hess Midstream”) announced today plans to expand natural gas processing capacity at the Tioga Gas Plant (Tioga) by 150 million cubic feet per day (MMcf/d) creating a total of 400 MMcf/d processing capacity north of the Missouri river. The 150 MMcf/d Tioga expansion is expected to add residue and … Read moreHess Midstream Partners Announces Plan to Expand Natural Gas Processing Capacity

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Talos Energy Appoints Shane Young As Executive Vice President And Chief Financial Officer

April 24, 2019 PR Newswire HOUSTON, April 24, 2019 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced the appointment of Shannon E. Young, III as Executive Vice President and Chief Financial Officer of Talos, effective May 16, 2019. Michael L. Harding, II, currently Executive Vice President, Chief Financial Officer, Chief Accounting Officer and Treasurer, will continue to serve … Read moreTalos Energy Appoints Shane Young As Executive Vice President And Chief Financial Officer

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QEP Reports First Quarter 2019 Financial and Operating Results

April 24, 2019 Globe Newswire DENVER, April 24, 2019 (GLOBE NEWSWIRE) — QEP Resources, Inc. (NYSE:QEP) (QEP or the Company) today reported first quarter 2019 financial and operating results. FIRST QUARTER 2019 OPERATING HIGHLIGHTS Delivered oil and condensate production of 2.9 million barrels in the Permian Basin, a 35% year-over-year increase Initiated plan to significantly reduce … Read moreQEP Reports First Quarter 2019 Financial and Operating Results

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Laredo Petroleum Names Mikell J. Pigott as President and Announces CEO Succession Plan

April 24, 2019 Globe Newswire TULSA, OK, April 24, 2019 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced that the Company has named Mikell J. (“Jason”) Pigott as its new President and a member of the Board of Directors, effective May 28, 2019. Mr. Pigott will succeed Randy A. … Read moreLaredo Petroleum Names Mikell J. Pigott as President and Announces CEO Succession Plan

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Five Things to Know in World Business Today

Apr 25, 2019, by Samuel Potter (Bloomberg) Everything is fine Well done to Facebook Inc., whose first-quarter revenue rose a better-than-projected 26 percent on the strength of its advertising business. (Five Things loves it when the good guys win. Speaking of which, the company also said it’s setting aside a few billion dollars or so related to … Read moreFive Things to Know in World Business Today

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U.S. officials say global oil market ready for end to Iran crude exports

SINGAPORE (Reuters) – U.S. attempts to drive Iranian oil exports down to zero come against the backdrop of a global market that is sufficiently well supplied to avoid price disruptions, senior U.S. officials said on Thursday. “There’s roughly a million barrels per day (bpd) of Iranian crude (exports) left, and there is plenty of supply … Read moreU.S. officials say global oil market ready for end to Iran crude exports

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Worst Margins in a Decade Set to Keep Fueling U.S. Ethanol Deals

Apr 24, 2019, by Isis Almeida (Bloomberg) A wave of consolidation washing through the U.S. ethanol industry has yet to run its course amid some of the worst returns in a decade, according to grain handler and ethanol-plant operator The Andersons Inc. Margins have taken a beating as President Donald Trump’s trade war halts sales … Read moreWorst Margins in a Decade Set to Keep Fueling U.S. Ethanol Deals

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Occidental May Be Lacking in Size But It’s Never Lacked Ambition

Apr 25, 2019, by Tina Davis and Joe Carroll (Bloomberg) Occidental Petroleum Corp.’s $38 billion bid for Anadarko Petroleum Corp. is one of the boldest moves in the 99-year history of a company that has never lacked ambition. While being meet with skepticism from analysts — who have called the bid “ill-advised” and “ a … Read moreOccidental May Be Lacking in Size But It’s Never Lacked Ambition

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Trump’s Widening OPEC Fight Puts Saudi Oil Capacity in Spotlight

Apr 25, 2019, by Grant Smith (Bloomberg) The biggest threat to President Donald Trump’s hopes for low gasoline prices is his growing entanglement in the politics of OPEC nations. The White House plans to choke off oil exports from Iran without triggering a spike in prices largely by getting Saudi Arabia, the only OPEC member … Read moreTrump’s Widening OPEC Fight Puts Saudi Oil Capacity in Spotlight

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Delek closing in on $2 billion deal for Chevron’s North Sea oilfields: sources

LONDON (Reuters) – Israel’s Delek Group is close to clinching Chevron’s oil and gas fields in the British North Sea, which have a price tag of around $2 billion, sources familiar with the matter told Reuters. Delek, via its North Sea oil and gas operator Ithaca Energy, could reach an agreement within days, two of … Read moreDelek closing in on $2 billion deal for Chevron’s North Sea oilfields: sources

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U.S. crude stockpiles jump on rise in imports: EIA

(Reuters) – U.S. crude oil stockpiles rose last week to their highest in about a year and a half as imports increased, even as refiners sharply ramped up output ahead of the summer driving season, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.5 million barrels in the week to April 19, … Read moreU.S. crude stockpiles jump on rise in imports: EIA

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Column: Hedge funds bet big on spike in U.S. gasoline prices

LONDON (Reuters) – Hedge funds are betting heavily on higher gasoline prices this summer, anticipating that refiners will struggle to produce enough gasoline to replenish depleted stocks while ramping up diesel output for the shipping industry. Hedge funds and other money managers have accumulated 118 million barrels of bullish long positions in futures and options … Read moreColumn: Hedge funds bet big on spike in U.S. gasoline prices

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Ford Motor to put $500 million into electric vehicle startup Rivian

(Reuters) – Ford Motor Co said on Wednesday it will invest $500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley’s Tesla Inc. Ford said it will use Rivian’s “skateboard” – a chassis that bundles electric motor, batteries and controls – to build a … Read moreFord Motor to put $500 million into electric vehicle startup Rivian

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Occidental’s $38 Billion Anadarko Offer Starts Permian Fight

Apr 24, 2019, by Simon Casey and Kevin Crowley (Bloomberg) The first major bidding war has broken out in the Permian. After being rebuffed several times, Occidental Petroleum Corp. on Wednesday made public a $38 billion offer to buy Anadarko Petroleum Corp., seeking to break up a proposed takeover by Chevron Corp. The $76 per … Read moreOccidental’s $38 Billion Anadarko Offer Starts Permian Fight

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Oxy Faces a Heavyweight in Anadarko Prize Fight: Liam Denning

Apr 24, 2019, by Liam Denning (Bloomberg Opinion) Now that there’s a bidding war for Anadarko Petroleum Corp., we all know who the big winners are: Anadarko’s executives. Oh yeah, and the shareholders, too. It’s been a bruising 24 hours for CEO Al Walker and the board. First, it emerged the board had tweaked severance terms … Read moreOxy Faces a Heavyweight in Anadarko Prize Fight: Liam Denning

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U.S Ability to Offset Iran Oil Losses Has Some Built-In Limits

Crude Oil Shipments In The Persian Gulf

Apr 24, 2019, by Sheela Tobben (Bloomberg) When the U.S. vowed to stop any sales of Iranian crude, Secretary of State Mike Pompeo trumpeted America’s ability to help offset supply losses. Maybe, but it would be a stretch. Oil condensate from the Eagle Ford shale basin in Texas is similar, though a bit heavier than … Read moreU.S Ability to Offset Iran Oil Losses Has Some Built-In Limits

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Shell Announces Deep-Water Discovery in Gulf Of Mexico

April 24, 2019 PR Newswire HOUSTON, April 24, 2019 /PRNewswire/ — Shell Offshore Inc. (“Shell”), a subsidiary of Royal Dutch Shellplc, today announced a significant discovery at the Blacktip prospect in the deep water U.S. Gulf of Mexico. Evaluation is ongoing and appraisal planning is underway to further delineate the discovery and define development options. “Blacktip is Shell’s second material … Read moreShell Announces Deep-Water Discovery in Gulf Of Mexico

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Diversified Gas & Oil Completes $400M Acquisition; Provides Hedging Update

April 23, 2019 Accesswire Acquisition Expands Portfolio of Mature Unconventional Marcellus Shale Wells BIRMINGHAM, AL / ACCESSWIRE / April 23, 2019 / Diversified Gas & Oil PLC (AIM: DGOC, “Diversified” or the “Company”), a U.S.-based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets in the Appalachian Basin, today announced the completed … Read moreDiversified Gas & Oil Completes $400M Acquisition; Provides Hedging Update

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U.S. Energy Corp. Receives NASDAQ Notice Regarding Non-Compliance with Continued Listing Standards

April 24, 2019 Globe Newswire DENVER, April 23, 2019 (GLOBE NEWSWIRE) — U.S. Energy Corp. (NASDAQCM: USEG) (“U.S. Energy” or the “Company”) today announced that the NASDAQ Stock Market LLC (“NASDAQ”) notified the Company on April 17, 2019 that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing due to the delay in filing … Read moreU.S. Energy Corp. Receives NASDAQ Notice Regarding Non-Compliance with Continued Listing Standards

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Occidental Makes Superior Proposal to Acquire Anadarko

$76.00 Per Share Cash and Stock Proposal Represents Premium of Approximately 20% to Current Value of Transaction Accepted by Anadarko Would Create a $100+ Billion Global Energy Leader with over 1.4 Million Boe/d of Production to Drive Significant Value and Returns for Occidental and Anadarko Shareholders Expected to Be Accretive to Cash Flow and Free … Read moreOccidental Makes Superior Proposal to Acquire Anadarko

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Glut forces LNG producers to offer flexible deals from global portfolios

LNG Tanker

SINGAPORE (Reuters) – The world’s biggest liquefied natural gas (LNG) producers including Shell, Total and Petronas are increasingly selling from global supply pools instead of dedicated projects as buyers leverage a fuel surplus to force ever more flexible deals. This marks an accelerated turning from traditional long-term contracts that lock customers into taking regular volumes … Read moreGlut forces LNG producers to offer flexible deals from global portfolios

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Shell in talks to buy BP stake in North Sea gas field: sources

LONDON (Reuters) – Royal Dutch Shell is in talks to buy BP’s stake in the Shearwater oil and gas field in the British North Sea for around $250 million, three industry sources told Reuters. Shell, the field’s operator, announced plans last year to expand a gas hub around Shearwater, including the construction of a new … Read moreShell in talks to buy BP stake in North Sea gas field: sources

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Oil Slides as U.S. Supplies Allay Fears Over Iran Sanctions

Apr 24, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil pulled back from a six-month high as an industry report signaling a gain in U.S. crude inventories partly offset concerns over America’s campaign to halt Iranian exports. Futures in New York fell as much as 0.8 percent. Crude stockpiles rose by 6.86 million barrels … Read moreOil Slides as U.S. Supplies Allay Fears Over Iran Sanctions

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Saudi Arabia Sees No Need for Immediate Action on Oil Market

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

Apr 24, 2019, by Anthony DiPaola, Matthew Martin and Yousef Gamal El-Din (Bloomberg) Saudi Arabia’s energy minister said the world’s biggest oil exporter sees no need to take immediate action in the crude market, signaling a cautious response to the U.S. decision to tighten sanctions on Iran. The kingdom won’t significantly raise output in May … Read moreSaudi Arabia Sees No Need for Immediate Action on Oil Market

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Five Things to Know in World Business Today

Apr 24, 2019, by Lorcan Roche Kelly (Bloomberg) April 30 Negotiators led by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week as both sides seek to have a trade agreement signed in the coming weeks. Despite market confidence that a deal will be done, economists continue to count … Read moreFive Things to Know in World Business Today

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Sanctions on Iranian oil bring U.S. drivers pain at the pump

(Reuters) – American middle class consumers are enjoying the strongest wage growth in a decade, but higher gasoline prices are eating a good chunk of that increase for many, and it looks like pump prices are headed higher. Gasoline pump prices have already jumped about 25% this year, the fastest rate in three years. Trump … Read moreSanctions on Iranian oil bring U.S. drivers pain at the pump

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Polar opposites: the remote Alaskan village divided over oil drilling

KAKTOVIK, Alaska (Thomson Reuters Foundation) – The sun had yet to rise in the remote Arctic in northeastern Alaska but tourists in search of polar bears were already boarding small boats setting off from a frozen beach. Bears have become a popular attraction for visitors to Kaktovik, a 250-person Native Alaskan village surrounded by the … Read morePolar opposites: the remote Alaskan village divided over oil drilling

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Trump Said to Consider Waiving U.S. Ship Mandate for Natural Gas

Apr 23, 2019, by Jennifer A. Dlouhy, Jenny Leonard and Jennifer Jacobs (Bloomberg) President Donald Trump is seriously considering waiving the requirement that only U.S. flagged vessels can move goods from American ports to Puerto Rico or energy-starved areas of the Northeast, according to people familiar with the deliberations. The issue was debated during an … Read moreTrump Said to Consider Waiving U.S. Ship Mandate for Natural Gas

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Occidental offers to buy Anadarko in $57 billion deal, topping Chevron

Apr 24, 2019, by Simon Casey and Kevin Crowley (Bloomberg) Occidental Petroleum Corp. is starting a bidding war for Anadarko Petroleum Corp., making a $38 billion counteroffer in attempt to break up the proposed takeover by Chevron Corp. Occidental said Wednesday it’s offering $76 per share in cash and stock, a premium of about 20 … Read moreOccidental offers to buy Anadarko in $57 billion deal, topping Chevron

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Superior Energy Services Announces First Quarter 2019 Results

April 23, 2019 | Source: Superior Energy Services, Inc. HOUSTON, April 23, 2019 (GLOBE NEWSWIRE) — Superior Energy Services, Inc. (the “Company”) today announced a net loss from continuing operations for the first quarter of 2019 of $47.7 million, or $0.31 per share, on revenue of $467.2 million.  This compares to a net loss from continuing … Read moreSuperior Energy Services Announces First Quarter 2019 Results

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SRC Energy Issues Preliminary First Quarter 2019 Results; Provides an Operations Update and Updates 2019 Production Guidance

April 22, 2019 Globe Newswire DENVER, April 22, 2019 (GLOBE NEWSWIRE) — SRC Energy Inc. (NYSE American: SRCI) (“SRC” or the “Company”), an oil and gas exploration and production company focused in the Denver-Julesburg Basin, today issues preliminary first quarter 2019 operating results, provides an operations update, updates 2019 production guidance, and announces its first … Read moreSRC Energy Issues Preliminary First Quarter 2019 Results; Provides an Operations Update and Updates 2019 Production Guidance

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Northern Oil and Gas, Inc. Announces Accretive Acquisition in the Core of the Williston Basin

HIGHLIGHTS Production from the Assets is expected to average 6,600 Boe per day (2-stream) during the second half of 2019 The Assets consist of 86.9 net producing wells, 2.7 net wells in process and 47.5 net undrilled locations within approximately 18,000 net acres in the core of the Williston Basin The Assets are expected to … Read moreNorthern Oil and Gas, Inc. Announces Accretive Acquisition in the Core of the Williston Basin

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SAExploration Announces New $25 Million Ocean-Bottom Marine Project Award in Brazil

HOUSTON, April 23, 2019 (GLOBE NEWSWIRE) — SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW), or SAE, today announced a new deep-water ocean-bottom marine project award in Brazil for a major international oil company valued at approximately $25 million. Services to be provided will include data acquisition utilizing autonomous ROV-deployed nodal recording technology in water depths up … Read moreSAExploration Announces New $25 Million Ocean-Bottom Marine Project Award in Brazil

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Gulf OPEC members ready to raise output if there is demand: sources

DUBAI (Reuters) – Gulf OPEC producers can step in to meet any oil supply shortage following a U.S. decision to end waivers on buyers of Iranian crude, but will first wait to see whether there is actual demand, OPEC and industry sources said. The United States has decided not to renew exemptions from sanctions against … Read moreGulf OPEC members ready to raise output if there is demand: sources

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U.S. making a mistake politicizing oil: Iran oil minister

(Reuters) – The United States has made a bad mistake by politicizing oil and using it as a weapon, Iran’s Oil Minister Bijan Zanganeh said in a parliamentary session on Tuesday, the Islamic Republic News Agency (IRNA) reported. Oil prices on Tuesday hit their highest level since November after Washington announced all waivers on imports … Read moreU.S. making a mistake politicizing oil: Iran oil minister

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Kremlin Offers Oil Giants $8 Billion Payout as Russians Struggle

Apr 23, 2019, by Anna Andrianova and Dina Khrennikova (Bloomberg) Vladimir Putin’s poll ratings are down after a tax hike squeezed cash-strapped consumers. But the Kremlin has opened the coffers to give as much as $8 billion this year to another key constituency: oil companies awash in record profits. The handouts are part of a … Read moreKremlin Offers Oil Giants $8 Billion Payout as Russians Struggle

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Anadarko Changed CEO’s Potential Payout Before Chevron Deal

Apr 23, 2019, by Anders Melin and Rachel Adams-Heard (Bloomberg) Anadarko Petroleum Corp. tweaked terms determining severance payments for senior executives the day before Chevron Corp.’s $33 billion buyout offer was announced, setting up Chief Executive Officer Al Walker to collect millions of dollars of additional compensation if he leaves the company. The board also … Read moreAnadarko Changed CEO’s Potential Payout Before Chevron Deal

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Column: Iran sanctions decision rewards hedge fund oil bulls

LONDON (Reuters) – Hedge fund managers added even more bullish long positions in crude oil and gasoline last week as traders bet prices will continue rising despite a sluggish economy and political sensitivity around escalating motoring costs. The Trump administration’s decision to toughen sanctions on Iran’s oil exports has rewarded fund managers who have been … Read moreColumn: Iran sanctions decision rewards hedge fund oil bulls

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Range Announces First Quarter 2019 Financial Results

FORT WORTH, Texas, April 22, 2019 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its first quarter 2019 financial results. Highlights – GAAP cash flow provided from operating activities of $261 million, and non-GAAP cash flow of $269 million GAAP net income of $1.4 million ($0.01 per diluted share), and non-GAAP net income … Read moreRange Announces First Quarter 2019 Financial Results

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Apache Corporation Announces Temporary Deferral of Alpine High Natural Gas Production in Response to Recent Pricing at Waha Hub

HOUSTON, April 23, 2019 (GLOBE NEWSWIRE) — Production deferrals designed to positively impact Apache’s cash flow in the near term No change expected to Altus Midstream Company’s (Altus) 2019 EBITDA guidance range Cryogenic processing buildout at Alpine High is progressing ahead of schedule Reiterates Alpine High 2019 exit rate guidance of greater than 100 thousand … Read moreApache Corporation Announces Temporary Deferral of Alpine High Natural Gas Production in Response to Recent Pricing at Waha Hub

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Energy Transfer Announces Mariner East 1 Pipeline is Back in Service

Mariner East 1 Provides Critical Transportation of Natural Gas Liquids from Eastern Ohio to the Marcus Hook Industrial Complex DALLAS–(BUSINESS WIRE)–Apr. 23, 2019– Energy Transfer LP (NYSE: ET) announced that effective today, Mariner East 1 pipeline has resumed operations. The 350-mile, 8-inch natural gas liquids (NGL) pipeline transports NGLs across Southern Pennsylvania to Energy Transfer’s … Read moreEnergy Transfer Announces Mariner East 1 Pipeline is Back in Service

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Murphy Oil Corporation Announces Strategic Deep Water, Oil-Weighted Gulf of Mexico Acquisition

Accretive Cash Flow Generating Acquisition that Increases Operatorship in the Region Murphy Continues Strategic Multi-Year Transformation EL DORADO, Ark.–(BUSINESS WIRE)–Apr. 23, 2019– Murphy Oil Corporation (NYSE: MUR) announced today that its wholly owned subsidiary, Murphy Exploration & Production Company – USA (“Murphy”), has entered into a definitive agreement to acquire deep water Gulf of Mexicoassets … Read moreMurphy Oil Corporation Announces Strategic Deep Water, Oil-Weighted Gulf of Mexico Acquisition

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Helix Reports First Quarter 2019 Results

Helix Energy Solutions Group, Inc. (“Helix”) HLX, +2.51% reported net income of $1.3 million, or $0.01 per diluted share, for the first quarter of 2019 compared to a net loss of $2.6 million, or $(0.02) per diluted share, for the same period in 2018 and a net loss of $13.7 million, or $(0.09) per diluted … Read moreHelix Reports First Quarter 2019 Results

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Electric vehicle study sees opportunity for utilities

(Reuters) – Increasing demand for electric vehicles in the United States over the next decade will create revenue opportunities for electric utilities that invest in greater grid capacity and offer EV charging and related services, according to a study released on Tuesday. The study, by the Boston Consulting Group, assumes a significant leap in consumer … Read moreElectric vehicle study sees opportunity for utilities

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Apache delays production of Permian natural gas due to pricing pressure

April 23 (Reuters) – Oil and gas producer Apache Corp said on Tuesday it would delay production of about 250 million cubic feet of natural gas from its Alpine High assets in the Permian due to “extremely” low prices. The company reiterated its Alpine High 2019 exit rate guidance of more than 100,000 barrels of … Read moreApache delays production of Permian natural gas due to pricing pressure

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Oil hits highest since November as U.S. to tighten Iran sanctions

LONDON (Reuters) – Oil prices hit their highest since November on Tuesday after Washington announced all waivers on imports of sanctions-hit Iranian oil would end next week, pressuring importers to stop buying from Tehran and further tightening global supply. Brent crude futures were at $74.25 per barrel at 1055 GMT, up 21 cents or 0.28 … Read moreOil hits highest since November as U.S. to tighten Iran sanctions

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With Demand Poised to Collapse, the Price of Ship Fuel Rockets

Apr 23, 2019, by Jack Wittels (Bloomberg) Demand for the shipping industry’s main fuel is widely expected to collapse like never before in 2020, so it might come as a surprise that its value is soaring. High-sulfur fuel oil at the Dutch port of Rotterdam in January is now trading at about $16 a barrel … Read moreWith Demand Poised to Collapse, the Price of Ship Fuel Rockets

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Five Things to Know in World Business Today

Apr 23, 2019, by Lorcan Roche Kelly (Bloomberg) Crude jump Oil is adding to yesterday’s gains, with a barrel of West Texas Intermediate for June delivery trading above $66 this morning while Brent crude was also higher. The move comes in the wake of the Trump administration’s decision to end waivers on the ban of Iranian … Read moreFive Things to Know in World Business Today

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Weak first quarter seen for U.S. refiners, but brighter summer expected

NEW YORK (Reuters) – U.S. independent refiners are expected to roll out lower than expected first-quarter profits after a spate of outages, weak gasoline margins and a surge in the price of Canadian oil, according to analysts. Major independent refiners cut production dramatically during the quarter, with some electing to undergo maintenance rather than produce … Read moreWeak first quarter seen for U.S. refiners, but brighter summer expected

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Crude Oil Could Be Next Ammunition for Emerging-Market Rally

Apr 23, 2019, by Ben Bartenstein (Bloomberg) Emerging markets got a lift from the Federal Reserve, Donald Trump and Xi Jinping to start the year. Oil may be the next saving grace. Investors say a potential uptick in crude prices might be the latest tailwind for the developing world after the White House scrapped waivers … Read moreCrude Oil Could Be Next Ammunition for Emerging-Market Rally

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Murphy Oil to buy Gulf of Mexico assets for $1.38 billion

(Reuters) – Oil and gas producer Murphy Oil Corp said on Tuesday it would buy Gulf of Mexico assets from LLOG Exploration Offshore and LLOG Bluewater Holdings for at least $1.38 billion in cash in a move to strengthen its position in the region that saw record production last year. Murphy, which also has operations … Read moreMurphy Oil to buy Gulf of Mexico assets for $1.38 billion

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Trump Playing Hardball Gives Iran Oil Buyers Costly Headache

Apr 23, 2019, by Serene Cheong, Heesu Lee and Alfred Cang (Bloomberg) The biggest buyers of Iranian oil are being struck by deja vu, and it’s not conjuring up pleasant memories. Six months ago they were scrambling to secure alternative supplies as the U.S. prepared to impose sanctions on Iranian oil exports, though last minute … Read moreTrump Playing Hardball Gives Iran Oil Buyers Costly Headache

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Nevada Aims to Rid Grid of Fossil Fuels, Joins Growing List

Apr 22, 2019, by Mark Chediak (Bloomberg) Nevada is joining the growing list of U.S. places that aim to ban fossil fuels from its electricity supply. Nevada Governor Steve Sisolak, a Democrat, signed a bill Monday that sets a goal of getting all of the Silver State’s power from carbon-free sources by 2050 and requires … Read moreNevada Aims to Rid Grid of Fossil Fuels, Joins Growing List

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Energy Transfer and Phillips 66 Partners Announce Non-Binding Expansion Open Season for Joint Tariff Service Connecting into the Bayou Bridge Pipeline System

DALLAS–(BUSINESS WIRE)–Energy Transfer LP (NYSE: ET) and Phillips 66 Partners LP (NYSE: PSXP) today announced that Bayou Bridge Pipeline, LLC (“Bayou Bridge”), a joint venture owned by subsidiaries of Energy Transfer and Phillips 66 Partners, launched a non-binding expansion open season to solicit shipper interest for expanded joint tariff transportation service received from certain connecting carriers … Read moreEnergy Transfer and Phillips 66 Partners Announce Non-Binding Expansion Open Season for Joint Tariff Service Connecting into the Bayou Bridge Pipeline System

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Environmental Chief Vows to Listen to Scientists — Sometimes

Apr 22, 2019, by Jennifer A. Dlouhy (Bloomberg) President Donald Trump’s Environmental Protection Agency is promising to do a better job heeding the advice of its own scientific advisers — but only to a point. EPA Administrator Andrew Wheeler offered the assurance in an eight-page letter to the agency’s Science Advisory Board, after the panel … Read moreEnvironmental Chief Vows to Listen to Scientists — Sometimes

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How Trump’s Stifling of Iran Waivers Affects the OPEC+ Oil Cuts

Apr 22, 2019, by Salma El Wardany (Bloomberg) The U.S. is ending waivers that let countries buy Iranian crude without running afoul of sanctions, threatening to squeeze oil supplies in an already tight market. The decision may also jeopardize the deal that OPEC and allied suppliers including Russia reached to limit output until the end … Read moreHow Trump’s Stifling of Iran Waivers Affects the OPEC+ Oil Cuts

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Total Plans to Use Artificial Intelligence to Cut Drilling Costs

Apr 19, 2019, by Francois de Beaupuy (Bloomberg) Total SA plans to start a digital factory in the coming weeks to tap artificial intelligence in a bid to save hundreds of millions of dollars on exploration and production projects, according to an executive. The use of artificial intelligence to screen geological data will help identify … Read moreTotal Plans to Use Artificial Intelligence to Cut Drilling Costs

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Oil Bulls Double Down on Rally With Most Bets Since October

Apr 22, 2019, by Alex Nussbaum and Caleb Mutua (Bloomberg) Hedge funds are betting rising tensions around the globe will keep fueling oil’s rebound this year. Money managers boosted optimistic wagers on West Texas Intermediate crude to the highest since October in the week ended April 16, according to government data released Friday. Total long … Read moreOil Bulls Double Down on Rally With Most Bets Since October

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On Iran Sanctions, Saudis Will Trust But Verify: Liam Denning

Apr 22, 2019, by Liam Denning (Bloomberg Opinion) On Iran, America has delivered for Saudi Arabia. Yet, unlike last year, Riyadh will take a trust-but-verify approach on how strictly Washington enforces sanctions once waivers expire on May 2. We are looking at a tight oil market this summer and a volatile mix of contradictory forces … Read moreOn Iran Sanctions, Saudis Will Trust But Verify: Liam Denning

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U.S. Wants to Push Iran Oil Exports to Zero: Iran Waivers Update

Crude Oil Shipments In The Persian Gulf

Apr 22, 2019, by Stephen Cunningham and Glen Carey (Bloomberg) The U.S. wants to completely shut down Iranian oil exports as the Trump administration seeks to deepen the Islamic Republic’s isolation through sanctions. “This is the right time and we have been consistent on going to zero,” Assistant Secretary of State Francis Fannon said during … Read moreU.S. Wants to Push Iran Oil Exports to Zero: Iran Waivers Update

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FERC finalizes expedited licensing process for hydropower projects

The U.S. Federal Energy Regulatory Commission (FERC) has issued a final rule establishing an expedited licensing process for original hydropower licenses for certain qualifying facilities at existing non-powered dams and for closed-loop pumped storage projects. The rule is part of the commission’s implementation of the America’s Water Infrastructure Act and seeks to ensure a final licensing decision no later … Read moreFERC finalizes expedited licensing process for hydropower projects

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In Michigan, developer cancels plan for large Upper Peninsula wind project

April 22, 2019, by Andy Balaskovitz (Renewable Energy World) Residents were divided over the 49-turbine project, which was awaiting the results of a local referendum scheduled for May 7. Citing planning delays, a global renewable energy developer has canceled plans for a major wind project in Michigan’s Upper Peninsula. A local referendum on the project … Read moreIn Michigan, developer cancels plan for large Upper Peninsula wind project

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Ring Energy, Inc. Releases First Quarter 2019 Operations Update

April 22, 2019 Business Wire MIDLAND, Texas–(BUSINESS WIRE)–Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) today released its operations updates for the first quarter of 2019. In the three months ended March 31, 2019, the Company, employing one drilling rig, drilled seven new horizontal wells and four salt water disposal wells. The Company drilled six new … Read moreRing Energy, Inc. Releases First Quarter 2019 Operations Update

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Camber Energy Announces Preliminary NYSE Approval of the Proposed Terms of its Planned Acquisition of a Pipeline Service and Construction Company

April 22, 2019 Accesswire HOUSTON, TX / ACCESSWIRE / April 22, 2019 / Camber Energy, Inc. (NYSE American: CEI) (the ”Company” or ”Camber”), based in Houston, Texas, today announced that it had received preliminary non-binding approval from the staff of the NYSE American of the planned terms of its contemplated acquisition of a midstream pipeline integrity services, … Read moreCamber Energy Announces Preliminary NYSE Approval of the Proposed Terms of its Planned Acquisition of a Pipeline Service and Construction Company

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White House adviser sees oil markets weathering expected end to Iran oil waivers

White House

WASHINGTON, April 22 (Reuters) – White House economic adviser Kevin Hassett said on Monday that he believed global oil markets would be able to handle an expected U.S. decision to force buyers of Iranian oil to either end imports or face sanctions, despite Monday’s surge in oil prices. “I think that the global oil markets … Read moreWhite House adviser sees oil markets weathering expected end to Iran oil waivers

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Tesla’s Mounting Demand Concerns Draw a New Bear on Wall Street

Apr 22, 2019, by Esha Dey (Bloomberg) Demand for Tesla Inc.’s cars is expected to see more pressure amid increasing competition, the phase out of a federal tax incentive and an aging product lineup, Evercore ISI analyst Arndt Ellinghorst said on Monday. Ellinghorst downgraded the shares to the equivalent of a sell rating from hold, … Read moreTesla’s Mounting Demand Concerns Draw a New Bear on Wall Street

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Halliburton Announces First Quarter 2019 Results

Reported net income of $0.17 per diluted share Adjusted net income of $0.23 per diluted share, excluding impairments and other charges HOUSTON–(BUSINESS WIRE)–Halliburton Company (NYSE:HAL) announced today net income of $152 million, or $0.17 per diluted share, for the first quarter of 2019. This compares to net income for the first quarter of 2018 of … Read moreHalliburton Announces First Quarter 2019 Results

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Five Things to Know in World Business Today

Apr 22, 2019, by Lorcan Roche Kelly and Samuel Potter (Bloomberg) Crude jump The Trump administration won’t renew waivers that allowed countries to buy Iranian crude without facing U.S. sanctions, according to four people familiar with the matter. Oil rose to the highest level in almost six months as investors, already concerned about supply constraints, … Read moreFive Things to Know in World Business Today

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ExxonMobil Signs 20-Year LNG Agreement with Zhejiang Energy

Zhejiang Energy to receive 1 million metric tons of LNG per annum over 20 years Agreement demonstrates ExxonMobil’s commitment to help meet China’s natural gas demand Zhejiang Energy to build a Wenzhou LNG receiving terminal IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said today that it signed a sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied … Read moreExxonMobil Signs 20-Year LNG Agreement with Zhejiang Energy

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Oil hits 2019 high on U.S. plan to tighten squeeze on Iran

Oil pipe

LONDON (Reuters) – Oil topped $74 a barrel on Monday, the highest since November, with the United States set to announce a further clampdown on Iranian oil exports, tightening global supplies. The United States is expected to say later on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a … Read moreOil hits 2019 high on U.S. plan to tighten squeeze on Iran

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Aramco to buy Shell’s stake in Saudi refining JV for $631 million

Saudi Aramco

DUBAI (Reuters) – Saudi Aramco will acquire Royal Dutch Shell’s (RDSa.L) 50 percent stake in their Saudi refining joint venture SASREF for $631 million, the two companies said on Sunday. The purchase, which is part of Aramco’s strategy to expand its downstream operations, will be completed later this year, they said in a joint statement. … Read moreAramco to buy Shell’s stake in Saudi refining JV for $631 million

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DRILLFORM PARTNERING WITH ATLANTICA TO PROVIDE NEXT GENERATION OFFSHORE IRON ROUGHNECK

April 22, 2019 – Recognizing the demand for improved efficiency, reduced downtime, and lowered maintenance costs, Atlantica Tender Drilling Ltd has partnered with Drillform Technical Services to replace their current make-up and break-out system. Drillform’s innovative Bulldog 130 Automated Floor Wrench (BD130) will be installed on Atlanticas’ Bass Drill Beta semi-submersible tender assist drill rig, … Read moreDRILLFORM PARTNERING WITH ATLANTICA TO PROVIDE NEXT GENERATION OFFSHORE IRON ROUGHNECK

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Halliburton says pricing woes bottoming out as U.S. activity rises

(Reuters) – Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier. Oilfield services providers have been struggling with a tightening of spending by U.S. oil producers as they … Read moreHalliburton says pricing woes bottoming out as U.S. activity rises

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Schlumberger Looks Overseas for Recovery Amid Shale Challenges

Schlumberger

Apr 18, 2019, by David Wethe (Bloomberg) Schlumberger Ltd. said parts of its international business are finally starting to recover, but the world’s biggest oil services giant warned that spending by U.S. shale producers will continue to shrink in 2019. American fracking faces “another challenging year,” the Paris and Houston-based company said Thursday. Elsewhere in … Read moreSchlumberger Looks Overseas for Recovery Amid Shale Challenges

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U.S. Said to Eliminate Iran Oil Waivers After May 2 Expiration

Apr 21, 2019, by Nick Wadhams (Bloomberg) The Trump administration won’t renew the waivers that let countries buy Iranian crude oil without facing U.S. sanctions, according to four people familiar with the matter, a move that could roil energy markets and risks upsetting major importers such as India and China. Secretary of State Michael Pompeo … Read moreU.S. Said to Eliminate Iran Oil Waivers After May 2 Expiration

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Trump’s LNG Push Is Helping Power German Green Cruise Liner Boom

FILE PHOTO: The LNG tanker "Clean Ocean" is pictured during the first U.S. delivery of liquefied natural gas to LNG terminal in Swinoujscie, Poland June 8, 2017. Picture taken on June 8, 2017. Agencja Gazata/Cezary Aszkielowicz via REUTERS

Apr 19, 2019, by Brian Parkin, William Wilkes and Vanessa Dezem (Bloomberg) President Donald Trump’s bid to dump a glut of liquefied natural gas on Europe is getting an unlikely boost: stringent regulations on shipping emissions that are prompting the continent’s shipyards to hunt for alternatives to high-polluting diesel. The International Maritime Organization will clamp … Read moreTrump’s LNG Push Is Helping Power German Green Cruise Liner Boom

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Foothills Exploration Inc. Announces Appointment Of Tara Roberts To The Position Of Vice President Of Business Development

April 18, 2019 Globe Newswire LOS ANGELES, April 18, 2019 (GLOBE NEWSWIRE) — Foothills Exploration, Inc. (OTC.QB: FTXP) (the “Company,” or “Foothills”), an independent oil and gas exploration company engaged in the acquisition and development of natural gas and oil properties in the Rockies today announced the appointment of Tara Roberts to the position of Vice … Read moreFoothills Exploration Inc. Announces Appointment Of Tara Roberts To The Position Of Vice President Of Business Development

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Upstream Exploration Announces Successful Recompletion, Total Company Production Reaches New Milestone

April 18, 2019 Globe Newswire METAIRIE, La., April 18, 2019 (GLOBE NEWSWIRE) — Upstream Exploration LLC (“Upstream” or the “Company”) a privately-held independent oil and gas exploration and production company, announced a successful well recompletion in Breton Sound Block 31 Field located in Plaquemines Parish, Louisiana.  The well, referred to as the Pegasus, was successfully recompleted … Read moreUpstream Exploration Announces Successful Recompletion, Total Company Production Reaches New Milestone

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U.S. oil drillers cut rigs for first week in three -Baker Hughes

April 18 (Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country’s largest oil fields, continue to shrink. Drillers cut eight oil rigs in the week to April 18, bringing the total count down to 825, … Read moreU.S. oil drillers cut rigs for first week in three -Baker Hughes

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Coal Prices Are Up and U.S. Miners Still Can’t Catch a Break

Apr 18, 2019, by Will Wade (Bloomberg) The global coal markets have been on a tear lately. And America’s miners are still tanking. Blame natural gas. St. Louis, Missouri-based miner Foresight Energy LP is having its worst month in three years as cheap gas continues to push the fuel out of the U.S. power mix. … Read moreCoal Prices Are Up and U.S. Miners Still Can’t Catch a Break

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America’s Gas Export Clout Set to Grow With LNG Approvals

Apr 18, 2019, by Stephen Cunningham and Naureen S. Malik (Bloomberg) America is set to become an even bigger player in the global liquefied natural gas market after the nation’s top regulator approved two more projects to export the super-chilled fuel. Tellurian Inc.’s proposed $28 billion Driftwood terminal in Louisiana and Sempra Energy’s Port Arthur … Read moreAmerica’s Gas Export Clout Set to Grow With LNG Approvals

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Supertanker Loads Up on American Oil Without Nearing the U.S.

Apr 18, 2019, by Sheela Tobben (Bloomberg) A supertanker filling up with crude in the Gulf of Mexico is routine these days. Less so is a supertanker loading American oil without coming within a thousand miles of the Texas or Louisiana coast. The Alsace is steaming for China laden with about 2 million barrels of … Read moreSupertanker Loads Up on American Oil Without Nearing the U.S.

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Gulfport Energy Corporation Provides First Quarter 2019 Production and Pricing and Schedules First Quarter 2019 Financial and Operational Results Conference Call

OKLAHOMA CITY, April 17, 2019 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport” or the “Company”) today provided an update for the quarter ended March 31, 2019. Key information includes the following: Net production during the first quarter of 2019 averaged 1,263.6 MMcfe per day. Realized natural gas price for the first quarter of … Read moreGulfport Energy Corporation Provides First Quarter 2019 Production and Pricing and Schedules First Quarter 2019 Financial and Operational Results Conference Call

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ConocoPhillips Announces Agreement to Sell United Kingdom E&P Subsidiaries

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced it has entered into an agreement to sell two ConocoPhillips United Kingdom (U.K.) subsidiaries to Chrysaor E&P Limited for $2.675 billion, plus interest and customary adjustments. Together, the subsidiaries indirectly hold the company’s exploration and production assets in the U.K., as well as associated decommissioning liabilities. ConocoPhillips will retain … Read moreConocoPhillips Announces Agreement to Sell United Kingdom E&P Subsidiaries

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Schlumberger Announces First-Quarter 2019 Results

Schlumberger

Worldwide revenue of $7.9 billion decreased 4% sequentially, but increased 1% year-on-year International revenue of $5.0 billion decreased 5% sequentially, but increased 3% year-on-year North America revenue of $2.7 billion decreased 3% sequentially and 3% year-on-year Pretax operating income of $908 million decreased 6% sequentially and 7% year-on-year EPS was $0.30 Cash flow from operations … Read moreSchlumberger Announces First-Quarter 2019 Results

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COOEC-Fluor Completes Module Fabrication for Dongfang Gas Fields Development Project in China

Milestone achieved safely, with quality, on schedule and on budget IRVING, Texas–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that its joint venture COOEC-Fluor Heavy Industries Co., Ltd. (COOEC-Fluor) fabrication yard has completed the central and wellhead platforms for CNOOC’s Dongfang 13-2 Gas Fields Development Project. The central platform recently departed the COOEC-Fluor yard in Zhuhai, … Read moreCOOEC-Fluor Completes Module Fabrication for Dongfang Gas Fields Development Project in China

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Kinder Morgan Raises Dividend by 25 Percent and Announces Results for First Quarter of 2019

Major Permian Projects Advance; Substantial Growth Compared to Previous Period HOUSTON — Kinder Morgan, Inc. (NYSE: KMI) today announced that its board of directors approved a cash dividend of $0.25 per share for the first quarter ($1.00 annualized) payable on May 15, 2019, to common stockholders of record as of the close of business on … Read moreKinder Morgan Raises Dividend by 25 Percent and Announces Results for First Quarter of 2019

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U.S. crude stockpiles drop unexpectedly last week: EIA

NEW YORK (Reuters) – U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.4 million barrels in week to April 12, compared with analysts’ expectations for an increase of 1.7 million barrels. A … Read moreU.S. crude stockpiles drop unexpectedly last week: EIA

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San Francisco Mayor Sees PG&E Assets as `Great’ Opportunity

Apr 18, 2019, by Romy Varghese (Bloomberg) San Francisco Mayor London Breed wants to use PG&E Corp.’s bankruptcy to take over some of the company’s assets for the city’s power needs, a move that would shake up California’s largest utility and remake the state’s energy landscape. Breed said she sees an opportunity to deliver clean … Read moreSan Francisco Mayor Sees PG&E Assets as `Great’ Opportunity

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Trump Tower Is Among NYC Buildings Facing Steep Energy Use Cuts

Apr 18, 2019, by Henry Goldman and Christopher Martin (Bloomberg) New York City is looking to curb the energy demand of some of its most iconic skyscrapers, including Trump Tower. Legislation targeting building emissions, part of a package backed by Mayor Bill de Blasio, is set to win approval from the city council Thursday. Owners … Read moreTrump Tower Is Among NYC Buildings Facing Steep Energy Use Cuts

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Rick Perry Is Said to Plan His Exit as Trump’s Energy Secretary

Apr 17, 2019, by Jennifer Jacobs, Jennifer A. Dlouhy and Ari Natter (Bloomberg) Energy Secretary Rick Perry is planning to leave the Trump administration and is finalizing the terms and timing of his departure, according to two people familiar with his plans. While Perry’s exit isn’t imminent and one person familiar with the matter said … Read moreRick Perry Is Said to Plan His Exit as Trump’s Energy Secretary

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OPEC+ Cuts Oil Production and Russia’s Crude Exporters Win

Apr 17, 2019, by Brian Wingfield and Prejula Prem (Bloomberg) An alliance of countries that includes Russia is cutting oil production to end a global glut. One of the big winners: the nation’s own crude exporters. The supply cuts from the so-called OPEC+ nations, coupled with U.S. sanctions on Venezuela and Iran, have reduced the … Read moreOPEC+ Cuts Oil Production and Russia’s Crude Exporters Win

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Oil Steadies as Political Risks Mingle With Economic Worries

Yellow Shell Oil Barrels

Apr 18, 2019, by Grant Smith (Bloomberg) Oil steadied below $64 a barrel in New York as ongoing threats to supply from political crises were offset by disappointing indicators on the global economy. West Texas Intermediate futures gained 12 cents, bringing their gain this week to 0.2 percent. A Purchasing Managers’ Index, which measures private-sector … Read moreOil Steadies as Political Risks Mingle With Economic Worries

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Five Things to Know in World Business Today

Apr 18, 2019, by Lorcan Roche Kelly (Bloomberg) Sluggish German manufacturing remains a weak spot for the euro area, with this morning’s Purchasing Managers Index for the sector coming in at a lower-than-expected 44.5 in April. A measure for services rose to 55.6, keeping the composite gauge in expansive territory. PMI for the region overall slipped to … Read moreFive Things to Know in World Business Today

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South Carolina aims to bar offshore drilling with budget proposal

(Reuters) – South Carolina’s Republican-majority Senate advanced a measure on Wednesday that would require the state to block new infrastructure to transport or process offshore oil and gas as state lawmakers fear the Interior Department will open the Atlantic coast to offshore drilling. Republican State Senator Chip Campsen introduced a provision to the state budget … Read moreSouth Carolina aims to bar offshore drilling with budget proposal

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Schlumberger Sees Global Oil Industry Rebound on Rising Demand

Pipeline

Apr 18, 2019, by David Wethe (Bloomberg) Schlumberger Ltd., the world’s biggest oilfield servicer, said the global oil industry is set to improve in 2019, supported by a “solid demand outlook” as production cuts from OPEC and its partners take effect. Exploration and production investments are “starting to normalize as the industry heads toward a … Read moreSchlumberger Sees Global Oil Industry Rebound on Rising Demand

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Kinder Morgan in discussions to build third Permian Basin gas pipeline: CEO

(Reuters) – Kinder Morgan Inc has begun internal discussions about building a third natural gas pipeline in the Permian Basin as demand for gas takeaway capacity continues to surge, Chief Executive Officer Steven Kean told investors on Wednesday. As natural gas production has outpaced pipeline capacity in the Permian Basin, a gas glut has led … Read moreKinder Morgan in discussions to build third Permian Basin gas pipeline: CEO

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U.S. shale producers see rising ultralight crude output hitting pricing

FORT WORTH, Texas, April 17 (Reuters) – Much of the new crude coming from the top U.S. shale field is so light that it is starting to affect pricing for the region’s oil, producers attending an energy conference this week said. Permian producers generally sell their crude at WTI benchmark prices, but rising supplies of … Read moreU.S. shale producers see rising ultralight crude output hitting pricing

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A Coal Miner’s Less-Is-More Lesson for Frackers: Liam Denning

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

Apr 17, 2019, by Liam Denning (Bloomberg Opinion) Arch Coal Inc. has a novel approach to beating the market: by not getting any more valuable. The miner’s stock has risen by almost 50 percent since October 2016, when it emerged from bankruptcy. Its market value, however, is roughly where it began: The variable is the share … Read moreA Coal Miner’s Less-Is-More Lesson for Frackers: Liam Denning

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`No Man’s Land’ for U.S. Gas Prices at 3-Year Low on Supply Boom

Apr 17, 2019, by Caleb Mutua (Bloomberg) Natural gas futures tumbled to the lowest in almost three years as U.S. shale output swamps the market amid mild spring weather, soothing concern about a potential supply crunch next winter. A seasonal lull in heating and cooling demand, coupled with surging production, is accelerating gains in stockpiles … Read more`No Man’s Land’ for U.S. Gas Prices at 3-Year Low on Supply Boom

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Kinder Morgan’s planned Gulf LNG export plant in Mississippi passes environmental test

(Reuters) – Kinder Morgan Inc’s proposed Gulf liquefied natural gas (LNG) export plant in Mississippi took a step toward receiving federal approval for construction on Wednesday after staff at the federal energy regulator prepared an environmental report. Construction and operation of the project would result in some adverse environmental impacts, but those “would be avoided … Read moreKinder Morgan’s planned Gulf LNG export plant in Mississippi passes environmental test

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In Northeast, more research needed on offshore wind’s impact on fishing

Wind Turbines

A new alliance seeks to collect and share information on the relationships between fisheries and wind development. by Meg Dalton, Energy News Network (Renewable Energy World) As plans for wind farms across New England’s waters progress, fishermen continue to express concerns about the impact of the burgeoning offshore wind industry on their livelihoods. And while … Read moreIn Northeast, more research needed on offshore wind’s impact on fishing

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Vermont utility launches vision for 100 percent renewable energy by 2030

April 17, 2019, by Jennifer Runyon (Renewable Energy World) Image: GMP resource profile. Note 2018 numbers are estimates based on GMP’s energy plan and power supply purchases throughout the year. The estimates will be finalized once ISO-NE processes all Renewable Energy Credits, or RECs. Credit: GMP. This weekend at its “Earth Day Every Day Fair,” … Read moreVermont utility launches vision for 100 percent renewable energy by 2030

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U.S. trade deficit narrows to eight-month low in February

WASHINGTON, (Reuters) – The U.S. trade deficit fell to an eight-month low in February as exports to China surged, helping to eclipse a rebound in overall imports, which could boost economic growth estimates for the first quarter. The Commerce Department said on Wednesday the trade deficit dropped 3.4 percent to $49.4 billion, the lowest level … Read moreU.S. trade deficit narrows to eight-month low in February

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Three strategies for building solar and wind energy systems on potentially contaminated lands

By Alex Garel-Frantzen and Amy Antoniolli (Renewable Energy World) Building solar and wind energy projects on potentially contaminated lands can be a golden opportunity, both effective and cost-effective, for developers. The 120-acre Reilly Tar & Chemical Corporation Superfund site was recently redeveloped with a utility-scale solar farm and is a prime example of the reuse … Read moreThree strategies for building solar and wind energy systems on potentially contaminated lands

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Halliburton Awarded Shell Offshore Exploration Contract

Named preferred integrated service provider in Brazil HOUSTON–(BUSINESS WIRE)–Halliburton Company (NYSE: HAL) today announced the execution of an integrated services contract with Royal Dutch Shell for post-salt development and pre-salt exploration in Brazil’s Campos and Santos Basins. Under the contract, which includes a three-year term with a two-year extension, Halliburton will provide drilling services to … Read moreHalliburton Awarded Shell Offshore Exploration Contract

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Department of Energy Announces $39 Million for Oil and Natural Gas R&D Projects

WASHINGTON, D.C. – Today, the U.S. Department of Energy (DOE) announced up to $39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies. The United States is now the world’s leader in both oil and natural gas production. According to the U.S. Energy Information Administration … Read moreDepartment of Energy Announces $39 Million for Oil and Natural Gas R&D Projects

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States say half of wetlands would lose protection under EPA proposal

(Reuters) – Fourteen states, including New York and California, and the District of Columbia said the Environmental Protection Agency’s proposal to replace an Obama-era water regulation would end federal protection for half of wetlands and 15 percent of streams across the country. The attorneys general issued a joint statement on Monday critical of the EPA’s … Read moreStates say half of wetlands would lose protection under EPA proposal

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Indian refiners turn to OPEC, Mexico, U.S. to make up Iran oil gap

NEW DELHI (Reuters) – Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said. All four Indian state-owned refiners that buy Iranian oil are confident of … Read moreIndian refiners turn to OPEC, Mexico, U.S. to make up Iran oil gap

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Five Things to Know in World Business Today

Apr 17, 2019, by Lorcan Roche Kelly (Bloomberg) 6.4 percent Chinese gross domestic product rose 6.4 percent in the first quarter from a year earlier, beating economist estimates. The better-than-expected number was driven by March data, with retail sales growth for the month at 8.7 percent and factory output recording a surprise 8.5 percent jump. The data … Read moreFive Things to Know in World Business Today

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Exxon Mobil wins three exploration blocks offshore Argentina

April 16 (Reuters) – U.S. oil major Exxon Mobil Corp said on Tuesday its unit and an affiliate of Qatar Petroleum had won three exploration blocks offshore Argentina. The three blocks adds about 2.6 million net acres to Exxon’s existing holdings in Argentina, the company said. (Reporting by Shanti S Nair in Bengaluru; Editing by … Read moreExxon Mobil wins three exploration blocks offshore Argentina

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Oil Extends Gains as U.S. Stocks Drop, China Economy Rebounds

Oil pipe

Apr 17, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil rose after an industry report signaled an unexpected drop in U.S. crude inventories last week, while data showed China’s economy rebounded in the first quarter. Prices advanced as much as 0.9 percent in New York, while in London Brent futures reached a five-month high. … Read moreOil Extends Gains as U.S. Stocks Drop, China Economy Rebounds

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Duke to Build North Carolina Solar Estimated at $404 Million

Apr 17, 2019, by Jim Efstathiou Jr. (Bloomberg) Duke Energy Corp. will develop six utility-scale solar power projects in North Carolina that may cost up to $404 million as part of the state’s bid to boost renewable energy. The projects total about 270 megawatts, with most expected to be online around the end of 2020, … Read moreDuke to Build North Carolina Solar Estimated at $404 Million

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U.S. West Coast gasoline imports from Europe set for record April

NEW YORK, April 16 (Reuters) – Gasoline imports into the U.S. West Coast from Europe are set to hit a record in April as area refinery shutdowns have tightened supplies and boosted prices, Refinitiv Eikon ship data showed on Tuesday. Imports were on track to total 2.17 million barrels in April, most since at least … Read moreU.S. West Coast gasoline imports from Europe set for record April

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Green new deal electricity – what really bothers the feds

Wind Turbine

April 16, 2019, by Pete Maltbaek, Contributor (Renewable Energy World) For more than 100 years, electricity has been reliably provided to end users through a centralized generation and transmission model. Large coal, hydro and (later) nuclear generating facilities produced huge amounts of electricity and, through a spider’s web of high voltage transmission lines, sent the … Read moreGreen new deal electricity – what really bothers the feds

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Dril-Quip Provides Update on Bookings and Contract Awards

April 16, 2019 | Source: Dril-Quip, Inc. HOUSTON, April 16, 2019 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ) today announced that it had product bookings in the first quarter of 2019 of approximately $99 million, which exceeded its prior guidance of $80 million.  Included in the first quarter 2019 bookings was a previously disclosed order from … Read moreDril-Quip Provides Update on Bookings and Contract Awards

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Oil Extends Gain as Report Shows Surprise Fall in U.S. Supplies

Apr 16, 2019  by Alex Nussbaum (Bloomberg) Oil extended its gains after an industry report was said to find an unexpected drop in U.S. inventories last week, bolstering the picture of a tightening crude market. Futures in New York gained as much as 1.5 percent in after-hours trading on Tuesday, after the American Petroleum Institute … Read moreOil Extends Gain as Report Shows Surprise Fall in U.S. Supplies

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Namaste, Oil Drillers: Yoga Mats Debut at Texas Industry Meeting

Apr 16, 2019, by Rachel Adams-Heard (Bloomberg) As the oil and gas industry prepares for a changing of the guard, a new item is being added to the conference agenda: yoga. For the first time, attendees of Hart Energy’s DUG Permian Basin conference could get in an early morning flow ahead of presentations on drilling … Read moreNamaste, Oil Drillers: Yoga Mats Debut at Texas Industry Meeting

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Supreme Court lets New York, Illinois nuclear power subsidies stand

The FirstEnergy Corp. Beaver Valley nuclear power station stands next to the Shippingport Bridge in Shippingport, Pennsylvania, U.S., on Wednesday, Dec. 6, 2017. Across America, few places are as dominated by big, centralized power plants as Shippingport. It was here, in the 1950s, that the federal government teamed up with private industry to build the country's first nuclear power plant. Photographer: Justin Merriman/Bloomberg

By Barbara Grzinic (Reuters) – The U.S. Supreme Court on Monday turned away challenges to state-mandated subsidies for nuclear power generators, declining to hear certiorari petitions filed by Donald Verrilli on behalf of the Electric Power Supply Association. EPSA, a trade group for electric-power producers, argued that Zero Emission Credit (ZEC) programs adopted by New … Read moreSupreme Court lets New York, Illinois nuclear power subsidies stand

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COLUMN-Climate change targets are slipping out of reach: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2VOF00O By John Kemp LONDON, April 16 (Reuters) – For all the commentary around a transition to a clean energy system, the amount of carbon dioxide (CO2) in the atmosphere is still continuing to rise rapidly and shows no sign of … Read moreCOLUMN-Climate change targets are slipping out of reach: Kemp

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Federal court dismisses Trump administration’s repeal of coal, oil valuation rule

(Reuters) – A federal court has struck down the Trump administration’s repeal of an Obama-era policy aimed at boosting revenue for taxpayers by changing how energy companies value sales of coal, oil and gas extracted from federal and tribal land. The decision, which found the Interior Department’s repeal of the so-called valuation rule was “arbitrary … Read moreFederal court dismisses Trump administration’s repeal of coal, oil valuation rule

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Chevron says Dutch Supreme Court rejects Ecuador’s $9.5 billion claim

(Reuters) – The Supreme Court of the Netherlands dismissed Ecuador’s attempts to annul decisions of an international arbitral tribunal that ordered Ecuador to prevent enforcement of a $9.5 billion judgment against Chevron Corp anywhere in the world, the U.S. oil major said on Tuesday. Chevron said the Dutch court’s decision upholds rulings of two Dutch … Read moreChevron says Dutch Supreme Court rejects Ecuador’s $9.5 billion claim

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Penn Virginia Appoints New Independent Director to the Board

David Geenberg to Step Down from the Board Schedules 2019 Annual Meeting HOUSTON, April 15, 2019 (GLOBE NEWSWIRE) — Penn Virginia Corporation (“Penn Virginia” or the “Company”) (NASDAQ: PVAC) today announced that Brian Steck has been appointed to the Company’s Board of Directors and David Geenberg has resigned from the Board, both effective immediately. The … Read morePenn Virginia Appoints New Independent Director to the Board

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Chaparral Energy Announces Changes to Board of Directors

OKLAHOMA CITY, April 15, 2019 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (NYSE: CHAP) today announced it has appointed Mr. Marcus (Marc) Rowland to serve as an independent director of the board effective April 10, 2019, to fill the vacancy resulting from the resignation of Mr. David Geenberg as a member of the board effective March … Read moreChaparral Energy Announces Changes to Board of Directors

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Occidental Investors Sell the Anadarko Rumor: Liam Denning

Apr 15, 2019, by Liam Denning (Bloomberg Opinion) If Occidental Petroleum Corp. was thinking of trying to come between Chevron Corp. and Anadarko Petroleum Corp., it’s first warning is the drubbing Chevron’s stock has taken. As of Monday morning, Chevron shares have dropped 4.6 percent since the oil major announced an agreed-upon offer for Anadarko of $65 a share. The … Read moreOccidental Investors Sell the Anadarko Rumor: Liam Denning

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Schlumberger Is Said to Be Leaning Toward Le Peuch as Next CEO

Schlumberger

Apr 15, 2019, by David Wethe and Jonathan Gilbert (Bloomberg) Schlumberger Ltd.’s board is leaning toward picking Chief Operating Officer Olivier Le Peuch to become its next chief executive officer, according to a person familiar with the matter. The board of directors, due to meet this week, has yet to formally vote on the succession, … Read moreSchlumberger Is Said to Be Leaning Toward Le Peuch as Next CEO

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Dutch Supreme Court Rules for Chevron in Ecuador Dispute

SAN RAMON, Calif.–(BUSINESS WIRE)–The Supreme Court of the Netherlands has ruled in favor of Chevron Corporation, rejecting the Republic of Ecuador’s attempts to annul decisions of an international arbitral tribunal in The Hague that ordered Ecuador to take all steps necessary to prevent enforcement of a $9.5 billion Ecuadorian judgment against Chevron anywhere in the … Read moreDutch Supreme Court Rules for Chevron in Ecuador Dispute

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ConocoPhillips Closes Sale of Its Interest in Greater Sunrise Fields

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced it has completed the previously announced transaction to sell its 30 percent interest in the Greater Sunrise Fields to the government of Timor-Leste for $350 million plus customary adjustments. “We are pleased to complete this transaction with the government of Timor-Leste,” said Matt Fox, executive vice president and chief … Read moreConocoPhillips Closes Sale of Its Interest in Greater Sunrise Fields

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Five Things to Know in World Business Today

Apr 16, 2019, by Cecile Gutscher (Bloomberg) ‘More, quicker’ As U.S. bank reporting season kicks into high gear, better-than-expected results from Citigroup Inc. and Goldman Sachs Group Inc. are doing little to assuage qualms about the pace of revamps at underperforming units. At Goldman, investors are fretting about slumping equity-trading revenue. At Citi, it’s stalling growth in the … Read moreFive Things to Know in World Business Today

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Oil’s Facing Odds of Demand Worsening Before Getting Better

Apr 16, 2019, by Serene Cheong (Bloomberg) Oil’s march back toward a four-year high is now facing some roadblocks in the form of demand in Asia, though the path may clear to allow further gains later this year. While the current rally in global benchmark prices to over $71 a barrel will put pressure on … Read moreOil’s Facing Odds of Demand Worsening Before Getting Better

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OPEC Gambles With Success of Production Cuts as $80 Oil Looms

Apr 16, 2019 by Grant Smith (Bloomberg) After managing to revive oil prices through production cutbacks, OPEC now risks squandering its victory again by letting crude surge too high. In the first quarter, coordinated production curbs by the Organization of Petroleum Exporting Countries and its allies helped oil rally the most in almost a decade, … Read moreOPEC Gambles With Success of Production Cuts as $80 Oil Looms

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Roan Resources, Inc. Announces Resignation of Tony Maranto, Chief Executive Officer

April 15, 2019 Business Wire OKLAHOMA CITY–(BUSINESS WIRE)–Roan Resources, Inc. (NYSE: ROAN) (“Roan” or the “Company”) today announced the resignation of Tony Maranto from his positions of Chairman of the Board of Directors, Chief Executive Officer and President, effective as of April 12, 2019, for personal reasons. In connection with Mr. Maranto’s resignation, Joseph A. Mills, … Read moreRoan Resources, Inc. Announces Resignation of Tony Maranto, Chief Executive Officer

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Starbucks Is Investing in Portfolio of Solar Farms in Texas

Solar Panels

Apr 15, 2019, by Brian Eckhouse (Bloomberg) Starbucks Corp. is boosting its investments in clean power. The Seattle-based coffee giant is investing in tax equity from a portfolio of eight Cypress Creek Renewables LLC solar farms in Texas, according to a statement Monday. Terms weren’t disclosed. In tax-equity deals, companies passively invest in power projects … Read moreStarbucks Is Investing in Portfolio of Solar Farms in Texas

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Jones Energy, Inc. Files for Chapter 11 Protection

April 15, 2019 Globe Newswire AUSTIN, Texas, April 15, 2019 (GLOBE NEWSWIRE) — Jones Energy, Inc. (OTCQX: JONE) (“Jones Energy” or the “Company”) today announced that the Company, consistent with its prior announcement on April 3, 2019 regarding the Company’s entry into a comprehensive Restructuring Support Agreement with its First Lien and Unsecured Noteholders, voluntarily … Read moreJones Energy, Inc. Files for Chapter 11 Protection

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U.S. presidential candidate Warren wants drilling, mining banned on federal lands

(Reuters) – U.S. presidential candidate Elizabeth Warren said on Monday she would ban all fossil fuel extraction on federal land and in coastal waters, setting herself apart from a crowded field of Democratic hopefuls who have made climate change a central campaign issue but have yet to outline specific policies. Warren said in a post … Read moreU.S. presidential candidate Warren wants drilling, mining banned on federal lands

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U.S. shale output forecast to hit record 8.46 million bpd in May: EIA

NEW YORK (Reuters) – U.S. crude oil output from seven major shale formations is expected to rise by about 80,000 barrels per day (bpd) in May to a record 8.46 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. The largest change is forecast in the Permian Basin … Read moreU.S. shale output forecast to hit record 8.46 million bpd in May: EIA

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Indigenous leaders want less drilling near sacred sites

Harold Frazier, (C) Chairman of the Cheyenne River Reservation wears his Lakota headdress and holds a staff just outside of Fort Laramie, Wyoming, U.S., April 27, 2018. REUTERS/Stephanie Keith

SANTA FE, N.M. — Leaders of the Navajo Nation and Pueblo tribes expressed frustration Monday with federal oversight of oil and gas leases on public holdings near ancient Native American cultural sites and endorsed legislation to restrict natural gas development around Chaco Culture National Historic Park. Acoma Pueblo tribal Gov. Brian Vallo told members of … Read moreIndigenous leaders want less drilling near sacred sites

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Enphase Energy Service Program for Early Adopters Reaches Milestone and Expands

FREMONT, Calif., April 15, 2019 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, today announced that over 2,500 homeowners have joined the Enphase Upgrade Program, a service program that gives homeowners several options for upgrading to the latest, more efficient and reliable microinverters … Read moreEnphase Energy Service Program for Early Adopters Reaches Milestone and Expands

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COLUMN-Hedge funds’ oil positions start to look stretched: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2VPrFFO By John Kemp LONDON, April 15 (Reuters) – Hedge fund managers continue to accumulate positions in crude and gasoline in the most sustained bull market since 2017 but the market is starting to look stretched and the balance of … Read moreCOLUMN-Hedge funds’ oil positions start to look stretched: Kemp

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Five Things to Know in World Business Today

Apr 15, 2019, by Lorcan Roche Kelly (Bloomberg) Fed up with the Fed President Donald Trump took another swipe at the Federal Reserve on Twitter yesterday, blaming it for reducing growth and keeping a lid on equity prices. Trump has often expressed impatience with the monetary authority and the latest attack comes as his two picks … Read moreFive Things to Know in World Business Today

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Oil Rally Takes a Breather as U.S. Drilling Activity Picks Up

Apr 15, 2019, by Tsuyoshi Inajima (Bloomberg) Oil started the week on a softer note after completing its longest run of weekly gains in three years as a report showing increased U.S. oil-rig activity took some heat out of the rally. Futures in New York fell as much as 0.8 percent after climbing more than … Read moreOil Rally Takes a Breather as U.S. Drilling Activity Picks Up

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PSC approves 5-fold solar expansion in Wisconsin

Solar Panel

April 15, 2019, by Tyler Huebner, Contributor (Renewable Energy World) Last week at its Open Meeting, the Wisconsin Public Service Commission approved five interrelated cases that will lead to a five-fold expansion of solar energy in Wisconsin. The PSC approved: The Badger Hollow Solar Farm project in Iowa County, totaling 300 megawatts. Badger Hollow could … Read morePSC approves 5-fold solar expansion in Wisconsin

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Concho Resources Inc. and Frontier Midstream Solutions Announce Midstream Joint Venture

MIDLAND, Texas–(BUSINESS WIRE)–Concho Resources Inc. (NYSE: CXO) (“Concho”) and Frontier Midstream Solutions IV, LLC (“Frontier”) announced today that Concho and Frontier have executed an agreement to create Beta Crude Connector, LLC (“BCC”). Concho and Frontier will each own a 50% equity interest in BCC, with Frontier serving as operator. BCC will build and provide crude … Read moreConcho Resources Inc. and Frontier Midstream Solutions Announce Midstream Joint Venture

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All aboard! Treasure on the high seas for gas dealers

LONDON (Reuters) – In the booming market for super cooled natural gas, the most precious commodity is the ship. A global quest for cleaner energy has fired up demand for liquefied natural gas (LNG), which produces less carbon dioxide than coal. But an abundance of supply has helped keep prices subdued, meaning the most profitable … Read moreAll aboard! Treasure on the high seas for gas dealers

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VW Unveils Apple-Skinned SUV Challenger to Tesla’s Model X

Volkswagen

Apr 14, 2019, by Christoph Rauwald (Bloomberg) Volkswagen AG unveiled an electric sport utility vehicle concept to challenge Tesla Inc.’s Model X as part of the auto industry’s largest push into battery-powered vehicles. The full-size SUV, available from 2021, features rotating lounge-seats covered in so-called AppleSkin — an artificial leather made in part from apple-juice … Read moreVW Unveils Apple-Skinned SUV Challenger to Tesla’s Model X

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Osprey launches thermal condition monitoring solutions for the Oil & Gas industry

Osprey Logo - December 2018 Update Feature

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

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The $18 Billion Electric-Car Bubble at Risk of Bursting in China

Apr 14, 2019, by Bloomberg News (Bloomberg) An iPhone assembler, e-commerce emporium and real-estate developer typically don’t compete in the same business — except when it comes to electric vehicles in China. That’s because of a seismic shift toward EVs, which has spurred billions of dollars in investments by traditional carmakers, startups and titans of … Read moreThe $18 Billion Electric-Car Bubble at Risk of Bursting in China

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Iran Is Peddling a Million Barrels of Oil Again. No One Wants It

Apr 14, 2019 by Arsalan Shahla (Bloomberg) An Iranian exchange has offered investors as much as 6 million barrels of oil so far this year. Only a single deal closed, for the minimum 35,000 barrels. Iran’s oil production and exports have slumped after the U.S. reinstated sanctions last year, and new curbs are set to … Read moreIran Is Peddling a Million Barrels of Oil Again. No One Wants It

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Iran says U.S. pressures on Iran, Venezuela making oil market fragile

LONDON (Reuters) – Iran’s oil minister said on Sunday that U.S. sanctions on Iran and Venezuela and tensions in Libya have made the supply-demand balance in the global oil market fragile, and warned of consequences for increasing pressures on Tehran. Oil prices have risen more than 30 percent this year on the back of supply … Read moreIran says U.S. pressures on Iran, Venezuela making oil market fragile

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Dispute with U.S. energy trader worsens Haiti’s fuel crisis

PORT-AU-PRINCE (Reuters) – A dispute between Haiti and a U.S. energy trading firm is leading to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise’s government following the collapse of a supply deal with Venezuela last year. The capital Port-au-Prince’s fragile power grid was dealt a blow when Novum … Read moreDispute with U.S. energy trader worsens Haiti’s fuel crisis

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Chevron Mega-Deal Highlights the Revival of American Energy

Apr 13, 2019, by Kevin Crowley and Kelly Gilblom (Bloomberg) For all the ink spilled over climate change and the global energy transition, the world’s biggest energy companies are focusing on where it all began: American oil. Chevron Corp.’s $33 billion acquisition of Anadarko Petroleum Corp., announced Friday, will make the U.S. company the largest … Read moreChevron Mega-Deal Highlights the Revival of American Energy

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Eagle LNG’s Jacksonville LNG Export Facility Receives Final Environmental Impact Statement from FERC

April 12, 2019 Business Wire JACKSONVILLE, Fla.–(BUSINESS WIRE)–Eagle LNG Partners (“Eagle LNG”) announced today that it reached a major milestone, receiving the Final Environmental Impact Statement (“FEIS”) from the United States Federal Energy Regulatory Commission (“FERC”) to construct the Jacksonville LNG Export Facility. This is the final step in the environmental review process before the final … Read moreEagle LNG’s Jacksonville LNG Export Facility Receives Final Environmental Impact Statement from FERC

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Ring Energy, Inc. Announces Closing of Northwest Shelf Assets from Wishbone Energy Partners

April 11, 2019 Business Wire Company Doubles Estimated Production, Future EBITDA, Proved Reserves and PV-10 Acquisition Creates Largest Horizontal San Andres Company on the Central Basin Platform / Northwest Shelf MIDLAND, Texas–(BUSINESS WIRE)–Ring Energy, Inc. (NYSE American: REI) (“Company”) (“Ring”) announced today that it has closed its transaction with Wishbone Energy Partners, LLC, Wishbone Texas Operating … Read moreRing Energy, Inc. Announces Closing of Northwest Shelf Assets from Wishbone Energy Partners

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Anadarko CEO Could Get $64 Million Payout After Chevron Deal

 Apr 12, 2019 by Anders Melin and Tina Davis (Bloomberg) Anadarko Petroleum Corp. Chairman and Chief Executive Officer Al Walker may not have a role once his company is purchased by Chevron Corp., but he will have some money. Walker’s employment agreement entitles him to walk away with about $64 million if he’s let go … Read moreAnadarko CEO Could Get $64 Million Payout After Chevron Deal

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US crude rises 31 cents, settling at $63.89, on tightening oil supply

April 12, 20193 Reuters Oil prices on Friday as involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand. The oil market also followed global stock markets higher after positive corporate earnings results from JP Morgan. The … Read moreUS crude rises 31 cents, settling at $63.89, on tightening oil supply

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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 with crude futures up more than 40 percent so far this year. Companies added two oil rigs in the week to April 12, bringing the total count to 833, General Electric Co’s Baker Hughes … Read moreU.S. drillers add oil rigs for second week in a row

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U.S. Well Services Announces Preliminary Results of Public Warrant Exchange Offer

HOUSTON, April 12, 2019 (GLOBE NEWSWIRE) — U.S. Well Services, Inc. (Nasdaq: USWS, USWSW) (the “Company,” “we” or “our”) today announced the preliminary results of its previously announced offer to exchange (“Offer to Exchange”) 0.13 shares of the Company’s Class A common stock (“Class A Common Stock”) for each outstanding Public Warrant originally issued in … Read moreU.S. Well Services Announces Preliminary Results of Public Warrant Exchange Offer

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Chevron Announces Agreement to Acquire Anadarko

Strategic fit that enhances Chevron’s advantaged portfolio Provides $2 billion in anticipated annual operating cost and capital synergies Accretive to free cash flow and earnings one year after close Share repurchase annual target increases by 25 percent to $5 billion SAN RAMON, CA, April 12, 2019 – Chevron Corporation (NYSE: CVX) announced today that it … Read moreChevron Announces Agreement to Acquire Anadarko

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National Oilwell Varco Provides Operational Update for the First Quarter 2019

HOUSTON–(BUSINESS WIRE)–National Oilwell Varco, Inc. (NYSE: NOV) today announced that it expects to report first quarter 2019 revenues of $1.94 billion, which is below prior expectations. “The severity of the decline in demand for oilfield equipment resulting from the sharp fall in oil prices during late 2018, further compounded by capital austerity that has taken … Read moreNational Oilwell Varco Provides Operational Update for the First Quarter 2019

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U.S. LNG shipments on track for slowest month since October

NEW YORK, April 11 (Reuters) – U.S. shipments of liquefied natural gas are expected to fall to their lowest level in six months in April, after a leading U.S. supplier shut units for maintenance at a time when a glut of supply has driven some worldwide prices to near three-year lows. Based on exports through … Read moreU.S. LNG shipments on track for slowest month since October

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OPEC could raise oil output if prices increase, shortages mount

DUBAI/LONDON/MOSCOW (Reuters) – OPEC could raise oil output from July if Venezuelan and Iranian supply drops further and prices keep rallying, because extending production cuts with Russia and other allies could overtighten the market, sources familiar with the matter said. Venezuelan crude production has dropped below 1 million barrels per day (bpd) because of U.S. … Read moreOPEC could raise oil output if prices increase, shortages mount

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U.S. EPA to revise proposed freeze of vehicle fuel economy rules

WASHINGTON (Reuters) – The head of the U.S. Environmental Protection Agency said on Thursday the agency would revise its proposed freeze of vehicle fuel economy standards before unveiling its final regulation in the coming months. In August, the EPA and National Highway Traffic Safety Administration (NHTSA) proposed freezing requirements for new cars and trucks at … Read moreU.S. EPA to revise proposed freeze of vehicle fuel economy rules

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U.S. super-light oil output rise roils Texas, Oklahoma markets

Oil Price

NEW YORK/HOUSTON (Reuters) – Growing production of Texas super-light oil – and worries about its quality compared with other types of crude – is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas. In the last several months, drillers are producing more oil … Read moreU.S. super-light oil output rise roils Texas, Oklahoma markets

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Apple says 44 of its suppliers have made clean energy commitments

April 11, 2019, by Renewable Energy World Editors Global manufacturer Apple today announced it has nearly doubled the number of suppliers that have committed to run their Apple production on 100 percent clean energy, bringing the total number to 44. Because of this partnership between Apple and its suppliers, Apple will exceed its goal of … Read moreApple says 44 of its suppliers have made clean energy commitments

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Oil Heads for Sixth Weekly Gain Amid Falling OPEC Production

Apr 12, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil headed for a sixth weekly increase as falling OPEC production tightened global crude markets, offsetting concerns that slower economic growth will weaken demand. Futures rose 1.4 percent in New York on Friday and have gained 2.2 percent this week, heading for their best run … Read moreOil Heads for Sixth Weekly Gain Amid Falling OPEC Production

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Coal’s Collapse Crowns Winners and Losers From China to the U.S.

Coal Train

Apr 11, 2019, by Ben Sharples (Bloomberg) — It’s been a stormy month for benchmark coal prices in Asia, with the potential for reverberations across the globe. A double whammy of Chinese import curbs and collapsing gas prices in Europe have whacked Australian thermal coal, at a time when demand weakens after the winter heating … Read moreCoal’s Collapse Crowns Winners and Losers From China to the U.S.

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Five Things to Know in World Business Today

Apr 12, 2019, by Lorcan Roche Kelly (Bloomberg) Earnings The first-quarter reporting period begins for big U.S. banks today, with JPMorgan Chase & Co. and Wells Fargo & Co. due to post earnings before the bell. Bank CEOs have spent much of the year so far trying to manage expectations, with JPMorgan warning in February that … Read moreFive Things to Know in World Business Today

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Retaliation Risks From NOPEC Bill Exaggerated, Proponents Say

Saudi Refinery

Apr 11, 2019, by Stephen Cunningham (Bloomberg) A report commissioned by proponents of U.S. anti-OPEC legislation said that fears of retaliation by the oil cartel are overblown. The “No Oil Producing and Exporting Cartels Act,” or NOPEC, would subject the group of oil producers to possible antitrust action by the Justice Department. Opponents warn that … Read moreRetaliation Risks From NOPEC Bill Exaggerated, Proponents Say

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Tesla’s Growth Story Needs a New Charge: Liam Denning

Apr 11, 2019, by Liam Denning (Bloomberg Opinion) Tesla Inc.’s stock is back in its $260-$270 hot-zone again Thursday, falling on news that a key supplier is taking things down a notch. Panasonic Corp. and Tesla are reportedly “tempering expansion plans” at the Gigafactory, the giant facility in Nevada that produces battery packs for the electric vehicle-maker. Panasonic supplies … Read moreTesla’s Growth Story Needs a New Charge: Liam Denning

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Tainted Oil: Exxon, Others Say U.S. Government Sold Toxic Crude

Oil worker pipe

Apr 12, 2019, by Catherine Ngai (Bloomberg) Exxon Mobil Corp. is the latest company to raise concerns that a stockpile of U.S. government crude is tainted with poisonous gas. The American energy giant said some of the oil it purchased last year from the Energy Department’s Strategic Petroleum Reserve, or SPR, contained “extremely high levels” … Read moreTainted Oil: Exxon, Others Say U.S. Government Sold Toxic Crude

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Chevron Buys Anadarko in $33 Billion Bet on Shale Oil, LNG

Apr 12, 2019, by Kimberly Yuen, Javier Blas and Kelly Gilblom (Bloomberg) Chevron Corp. agreed to buy Anadarko Petroleum Corp. in a $33 billion bet on the Permian shale-oil region and liquefied natural gas, intensifying a battle with Exxon Mobil Corp. to be America’s top energy company. Chevron is making a double bet on what … Read moreChevron Buys Anadarko in $33 Billion Bet on Shale Oil, LNG

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Under Trump, U.S. drilling permits on federal lands soar

(Reuters) – The United States approved nearly 40 percent more oil and gas drilling permits on public lands in 2018 than it did the previous year thanks to an automated online system introduced in the waning days of the Obama administration, helping reduce a big backlog of applications. President Donald Trump has made it a … Read moreUnder Trump, U.S. drilling permits on federal lands soar

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Three ways utilities can partner with smart renewable cities to deliver on their objectives

Solar Panels and San Antonio, Texas

April 11, 2019, by Marlene Motyka (Renewable Energy World) Cities and renewable electricity have, respectively, become the habitat and energy of choice globally. The two are increasingly inseparable. Urbanization and electrification trends have turned cities and the grid into leading platforms for human activity, presenting unique opportunities for today’s utilities to partner with municipalities to … Read moreThree ways utilities can partner with smart renewable cities to deliver on their objectives

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Maverick Natural Resources Announces Acquisition of Producing Properties in East Texas

April 11, 2019 PR Newswire HOUSTON, April 11, 2019 /PRNewswire/ — Maverick Natural Resources, LLC (“Maverick”) announced today that it has closed an acquisition of producing properties in the Overton field in East Texas. The acquisition includes approximately 7,600 net acres and 2,700 net boepd (28% liquids). Maverick currently operates the field and has purchased the remaining 50% non-operated working interest. “We … Read moreMaverick Natural Resources Announces Acquisition of Producing Properties in East Texas

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Samson Resources II, LLC Announces $160 Million Reserve Based Lending Facility is Re-affirmed by Lender Group

April 11, 2019 PR Newswire TULSA, Okla., April 11, 2019 /PRNewswire/ — Samson Resources II, LLC (“Samson” or the “Company”) announced today that the Company’s Reserve Based Lending facility of $160 million has been re-affirmed at $160 million during the 2019 spring semi-annual re-determination process.  No other material changes were made to the terms or conditions under the credit facility during the … Read moreSamson Resources II, LLC Announces $160 Million Reserve Based Lending Facility is Re-affirmed by Lender Group

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Williams Sells Its 50% Interest in Jackalope Gas Gathering Services, L.L.C. to an Affiliate of Crestwood Equity Partners LP for $484.6 Million

April 10, 2019 Business Wire TULSA, Okla. & HOUSTON–(BUSINESS WIRE)–Williams (NYSE: WMB) and Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today announced that Williams has sold its 50 percent interest in Jackalope Gas Gathering Services, L.L.C. (“Jackalope”) to an affiliate of Crestwood for $484.6 million in cash. Prior to the transaction, Crestwood was Williams’ 50% joint … Read moreWilliams Sells Its 50% Interest in Jackalope Gas Gathering Services, L.L.C. to an Affiliate of Crestwood Equity Partners LP for $484.6 Million

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Crestwood Acquires Williams’ 50% Interest in Powder River Basin Joint Venture and Provides Updated 2019 Outlook

April 10, 2019 Business Wire Transaction enables Crestwood to be one of the largest gas gathering and processing companies by volume in the high-growth Powder River Basin (“PRB”) Generates immediate DCF per unit accretion; drives total company DCF per unit growth in excess of 20% through FY 2020 Allows Crestwood to preserve its financial strength and … Read moreCrestwood Acquires Williams’ 50% Interest in Powder River Basin Joint Venture and Provides Updated 2019 Outlook

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Saudi oil production cuts deeper than promised, says IEA

April 11, 2019, by AFP (Arabian Business) Paris-based International Energy Agency said production by OPEC kingpin Saudi Arabia dropped to its lowest level in two years in March. Saudi Arabia has slashed its oil production by more than promised as part of a pact to boost oil prices, the International Energy Agency said Thursday, while … Read moreSaudi oil production cuts deeper than promised, says IEA

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VAALCO Energy, Inc. Appoints William Thomas as New Director

HOUSTON, April 11, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY) today announced that William R. Thomas had been appointed to the Company’s Board of Directors, effective April 9, 2019. Mr. Thomas will stand for election at the Company’s 2019 Annual Meeting of Shareholders. Mr. Thomas has over 30 years of experience in the … Read moreVAALCO Energy, Inc. Appoints William Thomas as New Director

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Apache Provides First-Quarter 2019 Supplemental Information; Schedules First-Quarter 2019 Results Conference Call May 2 at 10 A.M. Central Time

HOUSTON, April 10, 2019 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, Nasdaq: APA) today provided supplemental information regarding first-quarter 2019 Egypt tax barrels, realized derivative gains and dry hole costs. Supplemental quarterly information To further assist analysts with their first-quarter earnings models, the company is providing the following estimates: Egypt tax barrels: 28,000 to 30,000 BOE … Read moreApache Provides First-Quarter 2019 Supplemental Information; Schedules First-Quarter 2019 Results Conference Call May 2 at 10 A.M. Central Time

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Shell sells stake in Gulf of Mexico field for $965 million

(Reuters) – Royal Dutch Shell on Thursday agreed to sell its 22.45 percent stake in the Caesar Tonga field in the Gulf of Mexico for $965 million in cash to a subsidiary of Israeli energy conglomerate Delek Group. Located in the Gulf of Mexico, 300 km south of Louisiana, the field’s current production rate is … Read moreShell sells stake in Gulf of Mexico field for $965 million

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Climate goals could sink oil demand from mid 2020s, large asset manager says

LONDON (Reuters) – Legal and General Investment Management (LGIM), which manages assets worth 1 trillion pounds ($1.3 trillion) worldwide, said oil demand could start to decline from 2025 if countries impose strict policies to curb climate change. The impact of moves to ensure the global rise in temperature remains below 2 degrees could be such … Read moreClimate goals could sink oil demand from mid 2020s, large asset manager says

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Giant Investor Sees Profit From Fight Against Climate Change

Apr 11, 2019, by Mathew Carr and Kelly Gilblom (Bloomberg) Legal & General Group Plc, one of the world’s biggest investors that oversees $1.3 trillion, has modeled the climate crisis and sees both risk and a big opportunity. Not only will climate action cost less than expected, but it will make emerging economies more robust. … Read moreGiant Investor Sees Profit From Fight Against Climate Change

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Oil Retreats as Swelling U.S. Stockpiles Undermine OPEC’s Cuts

Apr 11, 2019, by Grant Smith and Heesu Lee (Bloomberg) Oil retreated from a five-month high as an increase in U.S. crude inventories overshadowed OPEC’s efforts to reduce production. Futures fell as much as 1.1 percent in New York after government data showed a 7.03 million-barrel jump in crude inventories last week to the highest … Read moreOil Retreats as Swelling U.S. Stockpiles Undermine OPEC’s Cuts

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IEA Says Oil Market Tightening, But Global Demand May Falter

Apr 11, 2019, by Grant Smith (Bloomberg) Global oil markets are tightening as OPEC supply falls, the International Energy Agency said, while warning it could lower demand forecasts because of economic threats. Crude inventories are set to decline for the rest of the year as Saudi Arabia and its partners curb production, while exports from … Read moreIEA Says Oil Market Tightening, But Global Demand May Falter

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Five Things to Know in World Business Today

Apr 11, 2019, by Lorcan Roche Kelly (Bloomberg) Brexit extension The EU has granted the U.K. more time to find a way of leaving the bloc, with the deadline moved to Oct. 31. While the can-kicking is better than a disorderly Brexit in the short term, it does nothing to resolve the uncertainty over what … Read moreFive Things to Know in World Business Today

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Trump Plan to Ship Natural Gas by Rail Stokes `Bomb Train’ Fears

Apr 11, 2019, by Jennifer A. Dlouhy (Bloomberg) President Donald Trump wants to allow natural gas to be shipped in railroad cars, a move that would open new markets hungry for the fuel but could risk catastrophic accidents if one were to derail. Trump on Wednesday ordered the Transportation Department to write a new rule … Read moreTrump Plan to Ship Natural Gas by Rail Stokes `Bomb Train’ Fears

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