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Sempra Isn’t Rolling Over to Elliott Just Yet: Liam Denning

Sep 18, 2018, by Liam Denning (Bloomberg Opinion) In the struggle over the future of Sempra Energy between the company and Elliott Management Corp., we have reached the truce stage. The final settlement remains a ways off, though. Back in June, Elliott launched a public effort criticizing Sempra as an undervalued conglomerate that needed to overhaul … Read moreSempra Isn’t Rolling Over to Elliott Just Yet: Liam Denning

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Russia: current oil price sanctions-driven, seen at $50/bbl long-term

GORKY, Russia (Reuters) – Russian Energy Minister Alexander Novak said on Tuesday that current high oil prices of between $70 and $80 per barrel were temporary and were mainly driven by sanctions, adding that the long-term price would stand at around $50 per barrel. Speaking at a meeting of government officials and the heads of … Read moreRussia: current oil price sanctions-driven, seen at $50/bbl long-term

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Commentary: Trump tariffs only a weak blow to China

Sep 17, 2018, by David A. Andelman China is fully prepared to win any kind of tariff war that Donald Trump can throw at it with some quite simple stratagems that might all be grouped under a single rubric: Autocratic Capitalism. After U.S. markets closed on Monday, Trump announced he would impose a 10 percent … Read moreCommentary: Trump tariffs only a weak blow to China

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COLUMN-Hedge funds stay bullish on Brent while trimming WTI: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2pfLG9I By John Kemp LONDON, Sept 17 (Reuters) – Hedge fund managers have remained bullish towards Brent even as the approach of Hurricane Florence turned them against WTI and refined fuels were hit by liquidation. Hedge funds and other money … Read moreCOLUMN-Hedge funds stay bullish on Brent while trimming WTI: Kemp

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U.S. gives rare earths reprieve in revised $200 billion China tariff list

BEIJING (Reuters) – The United States did not include rare earth elements, metals used in magnets, radars and consumer electronics, from its final list of tariffs on $200 billion of Chinese goods, underscoring its reliance on China for the strategic minerals. China is the world’s largest producer of rare earths and the biggest supplier to … Read moreU.S. gives rare earths reprieve in revised $200 billion China tariff list

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Report: West Virginians Saved More Than $4 Billion Over 10 Years from Lower Natural Gas Prices

CHARLESTON, W.V.–(BUSINESS WIRE)–Thanks to increased production and new technologies, which have decreased the price of natural gas, West Virginians saved more than $4 billion between 2006 and 2016, according to a state report released today by Consumer Energy Alliance (CEA), with calculations developed by Orion Strategies. Households saved nearly $1.6 billion and commercial and industrial … Read moreReport: West Virginians Saved More Than $4 Billion Over 10 Years from Lower Natural Gas Prices

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Southwestern Energy Announces Early Results and Upsizing of Cash Tender Offers and Consent Solicitations for Senior Notes

SPRING, Texas–(BUSINESS WIRE)–Southwestern Energy Company (NYSE: SWN) (the “Company”) today announced the early results and increase in the size of its previously announced offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) up to a maximum aggregate purchase price (subject to the respective sub-caps and Acceptance Priority Levels as set … Read moreSouthwestern Energy Announces Early Results and Upsizing of Cash Tender Offers and Consent Solicitations for Senior Notes

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Commercial Vehicle Market Dynamics Evolve Over Time to Include Electrification, Yet Diesel Remains Dominant, IHS Markit Says

SOUTHFIELD, Mich.–(BUSINESS WIRE)–Commercial vehicles will continue to run on diesel fuel for the foreseeable future, according to new research from business information provider IHS Markit (Nasdaq: INFO). Sixty-six percent of new medium and heavy commercial vehicles sold in the U.S. will be fueled by diesel (diesel and diesel hybrid) in 2040, compared to nearly 80 … Read moreCommercial Vehicle Market Dynamics Evolve Over Time to Include Electrification, Yet Diesel Remains Dominant, IHS Markit Says

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B&W Closes Sale of Palm Beach Resource Recovery Corporation

CHARLOTTE, N.C.–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced today that it has closed its previously announced sale of Palm Beach Resource Recovery Corporation (PBRRC) to a subsidiary of Covanta Holding Corporation for $45 million, subject to adjustment. Net proceeds from the sale will be used to reduce balances under B&W’s revolving credit facilities and … Read moreB&W Closes Sale of Palm Beach Resource Recovery Corporation

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Northern Oil and Gas, Inc. Announces Closing of Pivotal Petroleum Partners Acquisition

MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has closed on the previously announced Pivotal Petroleum Partners acquisition. MANAGEMENT COMMENT “Closing this highly accretive acquisition will drive free cash flow generation and strengthen our production base,” commented Northern’s Chief Executive Officer, Brandon Elliott. “This transaction serves to benefit all stakeholders by simultaneously … Read moreNorthern Oil and Gas, Inc. Announces Closing of Pivotal Petroleum Partners Acquisition

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In Big Win for Trump, U.S. Sanctions Cripple Iranian Oil Exports

Sep 18, 2018, by Javier Blas (Bloomberg) Aggressive and undiplomatic, certainly, but also extremely effective. With nearly 50 days to go before new U.S. oil sanctions against Iran enter into force, President Donald Trump has already managed to crush the country’s petroleum exports, dealing severe economic damage to Tehran. Iranian oil exports have plunged about … Read moreIn Big Win for Trump, U.S. Sanctions Cripple Iranian Oil Exports

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Saudi Arabia Is Said to Be Comfortable With Brent Oil Above $80

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

Sep 18, 2018, by Javier Blas (Bloomberg) Saudi Arabia is now comfortable with Brent oil prices rising above $80 a barrel, at least in the short term, as the global market adjusts to the loss of Iranian supply from U.S. sanctions, according to people familiar with the kingdom’s view. The world’s largest exporter has tried … Read moreSaudi Arabia Is Said to Be Comfortable With Brent Oil Above $80

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Only BMW Comes Close to China’s Electric-Vehicle Heavyweights

Sep 18, 2018, by Kyle Stock (Bloomberg) All the major players in the global auto industry envision a big electric tomorrow—and almost everyone outside of China is making their profits today on trucks, SUVs and other vehicles paired with gas-burning engines. Consider Ford Motor Co.: In the first half of the year, it had three … Read moreOnly BMW Comes Close to China’s Electric-Vehicle Heavyweights

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Five Things to Know in World Business Today

Sep 18, 2018, by Lorcan Roche Kelly (Bloomberg) Mr. 10 percent The White House announced a new 10 percent tax on over 5,000 products from China that will come into effect next week, with those tariffs rising to 25 percent on Jan. 1 2019. The move undermines the prospect of any further trade talks with Beijing … Read moreFive Things to Know in World Business Today

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Saudi Aramco to spend $133bn on oil, gas drilling

Sept 18, 2018, by By Bernd Debusmann Jr The funds will be spent over the next decade, according to Saudi Aramco’s senior vice president for upstream. Saudi Aramco plans to spend more than $133 billion on oil and gas drilling over the next ten years, a senior executive said on Monday. Speaking at the first graduation … Read moreSaudi Aramco to spend $133bn on oil, gas drilling

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Musk Names Japanese Billionaire for `Dangerous Mission’ to Moon

Sep 18, 2018, by Dana Hull and Justin Bachman (Bloomberg) Japanese billionaire Yusaku Maezawa will hitch the first SpaceX ride around the moon and plans to invite as many as eight artists to join him — with the rocket company’s founder Elon Musk possibly signing up for the space flight. Maezawa will fly on Space … Read moreMusk Names Japanese Billionaire for `Dangerous Mission’ to Moon

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U.S. shale oil production to rise to 7.6 million barrels per day in October

Oil pumps

(Reuters) – Oil output from seven major shale formations in the United States is expected to rise by 79,000 barrels per day to 7.6 million bpd in October, the U.S. Energy Information Administration said Monday. Surging oil output from shale formations boosted total U.S. crude production to a record high of nearly 10.7 million barrels … Read moreU.S. shale oil production to rise to 7.6 million barrels per day in October

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Enbridge to Buy Units for $7.1 Billion to Simplify Structure

Sep 18, 2018, by Naureen S. Malik (Bloomberg) Enbridge Inc. agreed to acquire the shares it doesn’t already own in three North American units for about $7.1 billion as the Canadian pipeline giant moves to simplify its corporate structure. The rollup will also streamline Enbridge’s capital structures and bring all of its core liquids and … Read moreEnbridge to Buy Units for $7.1 Billion to Simplify Structure

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Trump’s Trade War Escalation Puts U.S. Energy in Crosshairs

Energy Industry

Sep 18, 2018, by Stephen Stapczynski (Bloomberg) U.S. gas is under threat as a trade war with China escalates. China may target American liquefied natural gas in retaliation for a fresh round of duties announced Monday by the U.S. While the Asian nation last month said it was considering a 25 percent tariff on the … Read moreTrump’s Trade War Escalation Puts U.S. Energy in Crosshairs

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OPEC Warns of Threats to Oil Supply From Iran, Other Producers

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

Sep 18, 2018, by Anthony DiPaola (Bloomberg) The Organization of Petroleum Exporting Countries is concerned by threats to crude supply from large producers such as Iran, the group’s top official said. Unilateral U.S. sanctions on oil sales by Iran, OPEC’s third-biggest supplier, take effect on Nov. 4. Iran’s crude exports are already falling as the … Read moreOPEC Warns of Threats to Oil Supply From Iran, Other Producers

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Duke Energy Grapples With Storm Damage at Nuclear Plant, Coal-Ash Site

Sep 17, 2018, by Mark Niquette and Ari Natter (Bloomberg) Duke Energy Corp. grappled with deadly Hurricane Florence’s aftereffects as a breach in a coal-ash landfill worsened and its Brunswick nuclear plant declared a low-level emergency because of flooding. The U.S. Nuclear Regulatory Commission declared an “unusual event” this weekend at the atomic plant on … Read moreDuke Energy Grapples With Storm Damage at Nuclear Plant, Coal-Ash Site

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Iran Clashes With U.S. Over Nuclear Deal at IAEA in Vienna

A staff member removes the Iranian flag from the stage after a group picture with foreign ministers and representatives of the U.S., Iran, China, Russia, Britain, Germany, France and the European Union during the Iran nuclear talks at the Vienna International Center in Vienna, Austria July 14, 2015. REUTERS/Carlos Barria/File Photo

Sep 17, 2018, by Jonathan Tirone (Bloomberg) Top energy officials from the U.S. and Iran clashed on Monday with warnings that international peace is at risk as America’s sanctions noose tightens on the Islamic Republic. The showdown took place at the International Atomic Energy Agency in Vienna, where hundreds of diplomats gathered for the nuclear … Read moreIran Clashes With U.S. Over Nuclear Deal at IAEA in Vienna

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Crude See-Saws as Supply Crunch Muted by Impending Demand Drop

Sep 17, 2018, by Jessica Summers (Bloomberg) Oil capped recent gains as international supply concerns were overshadowed by a looming demand drop. Futures advanced as much as 1.1 percent in New York on Monday. Iranian exports of crude and a key byproduct plunged to a 2 1/2-year low as looming U.S. sanctions curbed purchases from … Read moreCrude See-Saws as Supply Crunch Muted by Impending Demand Drop

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Germany says gas market open as U.S. eyes LNG exports

BERLIN (Reuters) – Germany’s gas market is open to all market participants, a government spokeswoman said on Monday after a newspaper reported that U.S. firms expect to start delivering liquefied natural gas (LNG) to Germany in four years at the latest. Deputy U.S. Energy Secretary Dan Brouillette told Bild that LNG deliveries from U.S. companies … Read moreGermany says gas market open as U.S. eyes LNG exports

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Shell targets lower methane emissions from oil and gas operations

LONDON (Reuters) – Royal Dutch Shell announced on Monday plans to limit emissions of methane, a potent greenhouse gas, across its oil and gas operations. Shell aims to maintain methane emissions intensity below 0.2 percent by 2025, it said in a statement, joining British rival BP, which last year set a similar goal. Methane is … Read moreShell targets lower methane emissions from oil and gas operations

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Clearway Energy Operating LLC, a Subsidiary of Clearway Energy, Inc., Announces Proposed Offering of $550.0 Million of Senior Notes

PRINCETON, N.J.–(BUSINESS WIRE)–Clearway Energy Operating LLC (“Clearway Operating”), a subsidiary of Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) (“Clearway Energy”), intends to commence an offering of $550.0 million in aggregate principal amount of senior notes due 2025 (the “Notes”). The Notes will be senior unsecured obligations of Clearway Operating and will be guaranteed by Clearway Energy … Read moreClearway Energy Operating LLC, a Subsidiary of Clearway Energy, Inc., Announces Proposed Offering of $550.0 Million of Senior Notes

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Cheniere and Vitol Sign 15-Year LNG Sale and Purchase Agreement

HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its subsidiary Cheniere Marketing, LLC (“Cheniere Marketing”) has entered into a liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Vitol Inc. (“Vitol”). Under the SPA, Vitol has agreed to purchase approximately 0.7 million tonnes per annum of LNG from Cheniere Marketing on … Read moreCheniere and Vitol Sign 15-Year LNG Sale and Purchase Agreement

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Kosmos Energy Completes Acquisition of Deep Gulf Energy

DALLAS–(BUSINESS WIRE)–Kosmos Energy (NYSE: KOS) (LSE: KOS) announced today that it has completed the previously announced acquisition of Deep Gulf Energy (“DGE”)1, a leading deepwater company operating in the Gulf of Mexico. By acquiring DGE, Kosmos adds to its deepwater Atlantic Margin portfolio an established business with attractive assets and a strong record of growing … Read moreKosmos Energy Completes Acquisition of Deep Gulf Energy

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OPEC Sees Need to Keep Oil Supply Deal as Demand Faces Headwinds

Sep 17, 2018, by Anthony DiPaola (Bloomberg) OPEC needs to keep working with other oil producers to manage global supplies as demand for crude faces “headwinds,” the head of the organization said. The historic supply deal between Saudi Arabia, Russia and other producers reached in late 2016 needs to become permanent, Mohammad Barkindo, secretary-general of … Read moreOPEC Sees Need to Keep Oil Supply Deal as Demand Faces Headwinds

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Tale of Two Oil Markets: Brent Bulls Split From U.S. Optimists

Oil Workers

Sep 16, 2018, by Jessica Summers (Bloomberg) For oil investors, this is both the best of times and the worst of times, depending on which crude benchmark you trade. While money managers pile up on bets that Brent futures will rise as supplies from Iran shrink, even Hurricane Florence wasn’t enough to get investors excited … Read moreTale of Two Oil Markets: Brent Bulls Split From U.S. Optimists

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Five Things to Know in World Business Today

Sep 17, 2018, by Lorcan Roche Kelly (Bloomberg) Disharmony  China is considering declining the offer of trade talks, according to the Wall Street Journal, after President Donald Trump told aides on Thursday to proceed with tariffs on about $200 billion more in the the country’s products. The disunity within the U.S. administration over the approach … Read moreFive Things to Know in World Business Today

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U.S. climate summit ends with California promising satellite carbon monitoring

SAN FRANCISCO (Thomson Reuters Foundation) – After a week in which cities and companies announced plans to speed action on global warming, a San Francisco climate summit ended Friday with host California promising to launch its own satellite to track major emissions sources. The commitment came as Hurricane Florence swept into North Carolina, battering residents … Read moreU.S. climate summit ends with California promising satellite carbon monitoring

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Kinder Morgan reopens South Carolina Fuel Terminals after Florence

NEW YORK, Sept 16 (Reuters) – Kinder Morgan Inc reopened fuel terminals in South Carolina on Sunday after Tropical Storm Florence passed through the area, a spokeswoman said in a statement. “Kinder Morgan’s recovery and start up efforts have begun,” said spokeswoman Katherine Hill. The company is working with authorities to re-enter its facilities in … Read moreKinder Morgan reopens South Carolina Fuel Terminals after Florence

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Europe must offset U.S. pullout from nuclear deal: Iran minister

BERLIN (Reuters) – Europe should take action to neutralize the consequences of the U.S. decision to quit a 2015 Iran nuclear accord to ensure its own long-term economic interests, Iran’s Foreign Minister said in an interview published on Saturday. Mohammed Javad Zarif told Germany’s Der Spiegel news magazine that Iran could “reduce its implementation” of … Read moreEurope must offset U.S. pullout from nuclear deal: Iran minister

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Massachusetts residents cleared to return to areas hit by gas explosions

A building burns after explosions in Lawrence, Massachusetts, United States in this September 13, 2018 photo from social media by Boston Sparks. Boston Sparks/Social Media/via REUTERS

(Reuters) – Residents of three Massachusetts communities were allowed to return to their homes on Sunday for the first time since a series of gas explosions killed one man and set dozens of buildings on fire. Natural gas leaks, believed to have been caused by over-pressurized lines, on Thursday triggered a series of explosions and … Read moreMassachusetts residents cleared to return to areas hit by gas explosions

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Iran says Saudi Arabia and Russia have taken oil market ‘hostage’: SHANA

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

LONDON (Reuters) – Iran’s OPEC governor said on Saturday that Saudi Arabia and Russia have taken the oil market “hostage” as U.S. President Donald Trump seeks to impose fresh sanctions on Iranian oil sales. Washington wants to cut Iran’s oil exports to zero by November, and is encouraging producers such as Saudi Arabia, other OPEC … Read moreIran says Saudi Arabia and Russia have taken oil market ‘hostage’: SHANA

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Egypt signs oil, gas exploration deal with Shell, Petronas worth about $1 billion: statement

Yellow Shell Oil Barrels

CAIRO (Reuters) – Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Malaysia’s Petronas worth around $1 billion for 8 wells in the country’s West Nile Delta, the petroleum ministry said on Saturday. The country also signed a second $10 million deal with Rockhopper, Kuwait Energy and Canada’s Dover … Read moreEgypt signs oil, gas exploration deal with Shell, Petronas worth about $1 billion: statement

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Iran’s Export Pain Could Mean a Hot Winter for Oil: Julian Lee

Sep 15, 2018, by Julian Lee (Bloomberg Opinion) Winter is coming, and the oil market is starting to look pretty tight. Iran’s oil exports are down by almost a third since President Donald Trump said in April that the U.S. would withdraw from the nations’ nuclear deal and reimpose sanctions. They slid below 2 million barrels a … Read moreIran’s Export Pain Could Mean a Hot Winter for Oil: Julian Lee

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Fire contained at Tesla Gigafactory in Nevada

NEW YORK (Reuters) – A fire broke out at Tesla Inc’s (TSLA.O) Gigafactory in Nevada’s Tahoe-Reno Industrial Center late on Saturday but was contained by early Sunday and production had resumed, emergency officials and the company said. The factory produces Model 3 electric motors and battery packs, according to the electric carmaker’s website. The company … Read moreFire contained at Tesla Gigafactory in Nevada

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Kinder Morgan hires TD to sell Canadian business: sources

September 14, 2018, by John Tilak and David French TORONTO/NEW YORK (Reuters) – Kinder Morgan Inc (KMI.N) has hired investment bank TD Securities (TD.TO) to facilitate a potential sale of its Canadian business, which could fetch as much as C$2.4 billion ($1.8 billion), people familiar with the situation told Reuters this week. Should the move succeed, … Read moreKinder Morgan hires TD to sell Canadian business: sources

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Devon Energy Provides Update on $4 Billion Share-Repurchase Program

OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corp. (NYSE: DVN) announced today the completion of its initial accelerated share repurchase (“ASR”) program that commenced in early August. The ASR program was completed as part of the company’s $4 billion share repurchase authorization expiring at the end of 2019. To date, Devon has repurchased approximately 50 million shares under … Read moreDevon Energy Provides Update on $4 Billion Share-Repurchase Program

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COLUMN-Oil prices are re-entering the Tweet zone: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2p5xq3j By John Kemp LONDON, Sept 13 (Reuters) – Oil prices have risen back to levels that earlier this year prompted U.S. President Donald Trump to take to Twitter and demand OPEC do more to bring them down. Front-month Brent … Read moreCOLUMN-Oil prices are re-entering the Tweet zone: Kemp

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Cities from New York to London end growth in climate-changing emissions

SAN FRANCISCO (Thomson Reuters Foundation) – More than two dozen of the world’s largest cities are no longer increasing their planet-warming greenhouse gas emissions, they announced at a global climate summit in San Francisco. The 27 cities, from New York to London, said they had reached the milestone even as their populations and economies grew. … Read moreCities from New York to London end growth in climate-changing emissions

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India’s Iran oil purchases to fade ahead of U.S. sanctions

NEW DELHI (Reuters) – Indian refiners will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year as New Delhi works to win waivers on the oil export sanctions Washington plans to reimpose on Tehran in November. India’s loadings from Iran for this month and next will … Read moreIndia’s Iran oil purchases to fade ahead of U.S. sanctions

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Can Blockchain Save the Energy Sector?

By Kevin Ross (Renewable Energy World) In a December 2015 article, David Schatsky and Craig Muraskin of management consultancy Deloitte warned that blockchain technology “is coming to disrupt your industry”. And it seems that in relation to energy, they were right. Taking off from the financial sector, the term has become the latest buzzword for … Read moreCan Blockchain Save the Energy Sector?

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Gas explosions drive thousands out of homes in Boston suburbs

A building burns after explosions in Lawrence, Massachusetts, United States in this September 13, 2018 photo from social media by Boston Sparks. Boston Sparks/Social Media/via REUTERS

Sep 14, 2018, by Ted Siefer ANDOVER, Mass. (Reuters) – Some 8,000 people were driven from their homes in the Boston suburbs by a series of gas explosions, and it was unclear on Friday when they could go back. The blasts killed at least one person, injured 12 more and destroyed dozens of homes and … Read moreGas explosions drive thousands out of homes in Boston suburbs

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It’s Not a Trump Boom, It’s an Oil and Gas Boom: Karl Smith

Pump Jack

Sep 14, 2018, by Karl W. Smith (Bloomberg Opinion) President Donald Trump has gone so far as to suggest that he possesses “a magic wand” capable of producing unexpectedly robust economic growth. I don’t know about a magic wand. But Trump is right about the strong economy: This is a genuine boom. And the greatest threat … Read moreIt’s Not a Trump Boom, It’s an Oil and Gas Boom: Karl Smith

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Five Things to Know in World Business Today

Sep 14, 2018, by Lorcan Roche Kelly (Bloomberg) Storm surge Hurricane-force winds and heavy rain lashed the North Carolina coast as Florence, now in category 1, moved ashore. More than 1,500 flights have been cancelled, factories shut and farmers rushed to save their crops as estimates for damage wreaked by the hurricane range between $10 billion … Read moreFive Things to Know in World Business Today

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China’s crude oil output climbs for first time in nearly three years

BEIJING (Reuters) – China’s crude oil output rose in August for the first time in nearly three years, data showed on Friday, climbing after President Xi Jinping called for a boost to national energy security amid trade tensions with the United States. Monthly crude oil output hit 16 million tonnes, or 3.77 million bpd, up … Read moreChina’s crude oil output climbs for first time in nearly three years

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Europe Will Make Up a Quarter of Global Wind Power in Five Years

Wind Turbines

by Jeremy Hodges, Bloomberg (Renewable Energy World) Europe’s installed wind power capacity is seen ballooning to 258 gigawatts, or about a quarter of the world’s entire output, within five years. European wind project developers will install an average of 17 gigawatts of capacity, or the equivalent of 17 nuclear reactors, annually for the next half … Read moreEurope Will Make Up a Quarter of Global Wind Power in Five Years

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Airlines’ Biofuel-Powered Flights Might Soon Take Off

Sep 13, 2018, 2:27:12 PM, by Justin Bachman (Bloomberg) — For years, airlines have experimented with biofuels, aiming to reduce both carbon emissions and their reliance on fossil fuels. It’s been a turbulent journey buffeted by inconsistent investment and the periodic lure of cheap oil. But several major carriers are planning larger-scale usage of biofuel in 2019 and 2020, including JetBlue Airways … Read moreAirlines’ Biofuel-Powered Flights Might Soon Take Off

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Perry encourages Saudi, OPEC, Russia to work against oil price spike

MOSCOW (Reuters) – Saudi Arabia, other members of OPEC and Russia are to be admired for trying to prevent a spike in oil prices, U.S. Energy Secretary Rick Perry told reporters after meeting Russian Energy Minister Alexander Novak in Moscow. U.S. sanctions on Iran’s energy industry, which come into force in November, have already cut … Read morePerry encourages Saudi, OPEC, Russia to work against oil price spike

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U.S. Seen in Striking Distance of Climate Goal Shunned by Trump

Sep 13, 2018, by Mark Chediak (Bloomberg) The U.S. is on track to meet about two-thirds of its carbon-emissions goals under the Paris climate accord — even without the support of President Donald Trump. Cities, states, businesses and market forces are poised to trim carbon emissions to 17 percent below 2005 levels by 2025, according … Read moreU.S. Seen in Striking Distance of Climate Goal Shunned by Trump

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U.S. Warns Russia It May Sanction New Gas Pipeline to Germany

Sep 13, 2018, by Andrey Biryukov and Henry Meyer (Bloomberg) The U.S. warned Russia that it may follow through on sanction threats over the construction of a major natural gas pipeline to Germany. Asked if the U.S. might impose punitive measures against Nord Stream 2 and other projects, Energy Secretary Rick Perry answered “yes,” during … Read moreU.S. Warns Russia It May Sanction New Gas Pipeline to Germany

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How Fossil Fuels Won (and Lost) a Thirty-Year War: Liam Denning

Sep 13, 2018, by Liam Denning (Bloomberg Opinion) Thirty years ago this summer, James Hansen, then at NASA, provided landmark testimony to Congress about the links between fossil fuels and climate change. The U.S. was suffering one of its worst droughts ever and Yellowstone National Park was burning. Spurred to action, oil majors offered to help … Read moreHow Fossil Fuels Won (and Lost) a Thirty-Year War: Liam Denning

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COLUMN-U.S. oil boom starts to cool, tightening global market: Kemp

Red Oil Barrels

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2p0CTbx By John Kemp LONDON, Sept 12 (Reuters) – U.S. oil production is running into capacity constraints, which are starting to have a material impact on the global availability of crude, causing the market to tighten and putting upward pressure … Read moreCOLUMN-U.S. oil boom starts to cool, tightening global market: Kemp

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Oil and Gas Companies Becoming Hyper Specialists, Which is Driving Efficiency and Pleasing Investors, but Making Companies More Vulnerable to Volatility and Unexpected Events, IHS Markit Says

HOUSTON–(BUSINESS WIRE)–A continuing trend toward greater specialization in the oil and gas industry is enabling companies, particularly in the North American shale plays, to achieve greater efficiencies, please investors, and improve financial results, but new analysis from business information provider IHS Markit (Nasdaq: INFO) says this corporate strategy is putting many companies at significant risk … Read moreOil and Gas Companies Becoming Hyper Specialists, Which is Driving Efficiency and Pleasing Investors, but Making Companies More Vulnerable to Volatility and Unexpected Events, IHS Markit Says

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Global oil demand to top 100 million bpd but outlook may cloud

Sept 13, 2018, by Amanda Cooper LONDON (Reuters) – World oil consumption will top 100 million barrels per day (bpd) in the next three months, putting upward pressure on prices, although emerging market crises and trade disputes could dent this demand, the International Energy Agency said on Thursday. The Paris-based IEA maintained its forecast of … Read moreGlobal oil demand to top 100 million bpd but outlook may cloud

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U.S. oil producers lock-in 2019, 2020 revenue as prices rally

By Devika Krishna Kumar NEW YORK, Sept 13 (Reuters) – U.S. shale producers are locking in prices for their production as much as three years into the future in a sign that strong domestic crude pricing is nearing a peak, according to market sources familiar with money flows. U.S. crude prices for 2019 and 2020, … Read moreU.S. oil producers lock-in 2019, 2020 revenue as prices rally

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Five Things to Know in World Business Today

Sep 13, 2018, by Lorcan Roche Kelly (Bloomberg) One to watch The Bank of England is expected to make no changes to monetary policy when it announces its decision at 7:00 a.m. Eastern Time today. Forty-five minutes later, the European Central Bank is also expected to stand pat when its decision is published, with some tweaks to … Read moreFive Things to Know in World Business Today

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IEA Warns of Higher Oil Prices as Iran, Venezuela Losses Deepen

Sep 13, 2018, by Grant Smith (Bloomberg) The International Energy Agency warned that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in Iran and Venezuela. Iranian crude exports have fallen significantly before U.S. sanctions even take effect, the IEA said in a monthly report. The … Read moreIEA Warns of Higher Oil Prices as Iran, Venezuela Losses Deepen

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U.S. sanctions Libyan militia leader over oil facility attacks

WASHINGTON (Reuters) – The U.S. Treasury Department has targeted the leader of a Libyan militia with sanctions for directing attacks on oil facilities in the country, it said in a statement on Wednesday. Ibrahim Jathran damaged peace and stability in Libya by overseeing forces that attacked Libyan oil facilities in the “oil crescent,” a lucrative … Read moreU.S. sanctions Libyan militia leader over oil facility attacks

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U.S. waives gasoline rules in Virginia, Georgia as Florence nears

WASHINGTON (Reuters) – The U.S. Environmental Protection Agency said late on Wednesday it has temporarily waived air pollution regulations on gasoline in Georgia and Virginia as fuel supplies dip with the approach of Hurricane Florence. The agency approved waiver requests because it determined that “extreme and unusual fuel supply circumstances exist in portions of Virginia … Read moreU.S. waives gasoline rules in Virginia, Georgia as Florence nears

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U.S. utility solar contracts ‘exploded’ in 2018 despite tariffs: report

September 12, 2018, by Nichola Groom (Reuters) – Procurement of solar energy by U.S. utilities “exploded” in the first half of 2018, prompting a prominent research group to boost its five-year installation forecast on Thursday despite the Trump administration’s steep tariffs on imported panels. A record 8.5 gigawatts (GW) of utility solar projects were procured … Read moreU.S. utility solar contracts ‘exploded’ in 2018 despite tariffs: report

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In war on smog, China considers how to take polluting diesel trucks off the road

A tanker truck used to haul oil products operates at an oil facility near Brooks, Alberta, Canada April 18, 2018. REUTERS/Todd Korol

BEIJING (Reuters) – China is drawing up a plan to replace a million heavy duty diesel trucks, almost 20 percent of the national fleet, with ones that burn cleaner fuel, as Beijing ramps up its war on pollution, potentially dealing a heavy blow to oil refiners. The transport and environment ministries are considering proposals that … Read moreIn war on smog, China considers how to take polluting diesel trucks off the road

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Saudi Arabia hires US lobbyist to campaign against NOPEC bill

Sep 13, 2018, by Bloomberg (Arabian Business) Gulf kingdom appoints former solicitor general Ted Olson as a lobbyist to campaign against the No Oil Producing and Exporting Cartels Act legislation. Saudi Arabia is taking no chances with the longshot NOPEC bill, hiring former solicitor general Ted Olson as a lobbyist to campaign against the act. … Read moreSaudi Arabia hires US lobbyist to campaign against NOPEC bill

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Florence’s Brutal Winds Will Test the Carolinas Solar Boom

Sep 12, 2018, by Brian Eckhouse (Bloomberg) The nation’s second-biggest solar region is facing the first real-time test of its systems, with Hurricane Florence threatening the Carolinas with winds well in excess of 100 miles per hour and torrential rains. The Category 4 storm was packing 130 mile-per-hour winds (210 kilometer-per-hour) as of Wednesday, with … Read moreFlorence’s Brutal Winds Will Test the Carolinas Solar Boom

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Landowners oppose oil pipeline before Iowa Supreme Court

DES MOINES, Iowa — A group of Iowa landowners and an environmental group asked the Iowa Supreme Court Wednesday to declare a crude oil pipeline permit illegal under the Iowa Constitution, a decision that could force the pipeline in operation for more than a year to be turned off. The attorney for a group of … Read moreLandowners oppose oil pipeline before Iowa Supreme Court

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U.S. Likely Became Biggest Oil Producer Earlier This Year: EIA

Sep 12, 2018, by Stephen Cunningham (Bloomberg) America likely overtook Russia and Saudi Arabia in terms of oil output to become the world’s biggest producer earlier this year, according to the Energy Information Administration. U.S. crude output exceeded that of Saudi Arabia in February for the first time in more than two decades, based on … Read moreU.S. Likely Became Biggest Oil Producer Earlier This Year: EIA

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China’s Tesla Wannabe Tests Investor Taste for Electric Cars

Sep 12, 2018, by Bloomberg News (Bloomberg) The global excitement about electric cars is facing a test in New York today. So far, it’s off to a bumpy start. China’s NIO Inc., which seeks to take on the likes of Tesla Inc., started trading on the New York Stock Exchange after raising about $1 billion … Read moreChina’s Tesla Wannabe Tests Investor Taste for Electric Cars

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Airline fuel efficiency improves but lags industry goals: study

MONTREAL (Reuters) – Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers buy modern planes, but the industry still lags its own climate goals, a study released on Wednesday said. The industry’s average fuel efficiency improved to 34 passenger kilometers per liter of fuel from 33 between … Read moreAirline fuel efficiency improves but lags industry goals: study

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OPEC sees slower 2019 oil demand growth, warns on economy

LONDON (Reuters) – OPEC on Wednesday further trimmed its forecast for 2019 global oil demand growth and said the risk to the economic outlook was skewed to the downside, adding a new challenge to the group’s efforts to support the market next year. In a monthly report, the Organization of the Petroleum Exporting Countries said … Read moreOPEC sees slower 2019 oil demand growth, warns on economy

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Enphase Energy Expands Manufacturing Capacity with Flex in Mexico

PETALUMA, Calif., Sept. 12, 2018 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, today announced that it has expanded its manufacturing agreement with Flex to include the company’s facilities in Mexico. Starting in Q2 of 2019, Flex will begin delivering Enphase products produced … Read moreEnphase Energy Expands Manufacturing Capacity with Flex in Mexico

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Targa Resources Executes Agreements to Sell Assets in its Petroleum Logistics Business

Targa Resources

HOUSTON, Sept. 12, 2018 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has executed agreements to sell its refined products and crude oil storage and terminaling facilities in Tacoma, WA and Baltimore, MD to an affiliate of ArcLight Capital Partners, LLC for approximately $160 million. Subject to … Read moreTarga Resources Executes Agreements to Sell Assets in its Petroleum Logistics Business

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Northern Oil and Gas, Inc. Third Quarter Production Tracking Significantly Above Guidance

MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that preliminary production for July and August, 2018 averaged in excess of 25,000 barrels of oil equivalent (“Boe”) per day, substantially ahead of the Company’s prior guidance of 23,000 – 24,000 Boe per day for the third quarter of 2018. This production does not … Read moreNorthern Oil and Gas, Inc. Third Quarter Production Tracking Significantly Above Guidance

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Pioneer Natural Resources Company and U.S. Silica Announce West Texas Sand Supply Agreement

DALLAS–(BUSINESS WIRE)–Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer”) and U.S. Silica Holdings, Inc. (NYSE: SLCA) (“U.S. Silica”) today announced that the companies have entered into a long-term sand supply agreement by which Pioneer will purchase an interest in U.S. Silica’s sand reserves at its Lamesa, Texas, mine in West Texas. This agreement secures a long-term … Read morePioneer Natural Resources Company and U.S. Silica Announce West Texas Sand Supply Agreement

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Russia Says Ready to Pump Oil at Record Rate If Market Requires

Sep 12, 2018, by Elena Mazneva, Dina Khrennikova and Annmarie Hordern (Bloomberg) Russia has the capacity to set a new oil-production record, but won’t decide whether the market needs those additional supplies before a meeting later this month with its OPEC allies. The country could boost output by as much as 300,000 barrels a day … Read moreRussia Says Ready to Pump Oil at Record Rate If Market Requires

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Meet the Shalennials: CEOs Under 40 Making Millions in Texas Oil

Sep 12, 2018, by Kevin Crowley (Bloomberg) John Sellers and Cody Campbell are holding court one hot August evening in the corner of an oil-themed dive bar in Midland, Texas. After flying in on their private jet, they’re shaking hands, cracking jokes and talking deals with aspiring oilmen, contractors and land traders, almost all in … Read moreMeet the Shalennials: CEOs Under 40 Making Millions in Texas Oil

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Five Things to Know in World Business Today

Sep 12, 2018, by Lorcan Roche Kelly (Bloomberg) Florence and Mangkhut The National Weather Service is warning of potential “catastrophic flash flooding” when Hurricane Florence, currently more than 575 miles (925 kilometers) from the coast, makes landfall late Thursday or early Friday. Companies from agricultural firm Cargill Inc. to carmaker Daimler AG suspended operations in its path, with insurers likely to be … Read moreFive Things to Know in World Business Today

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World’s local governments rally in California to fight climate change

By Sebastien Malo SAN FRANCISCO (Thomson Reuters Foundation) – Local authorities will carve out a larger role in fighting rising temperatures globally, as national governments have been slow to take action, said organizers of a climate change summit beginning on Wednesday in San Francisco. About 4,500 delegates from city and regional governments, as well as … Read moreWorld’s local governments rally in California to fight climate change

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Exxon eyes upgrading UK refinery for more than $650 million

(Reuters) – Exxon Mobil Corp is planning to spend more than 500 million pounds ($650 million) to upgrade the UK’s largest oil refinery, Fawley, on England’s south coast, a spokesman said on Tuesday. The project at the 270,000 barrel per day refinery – representing a fifth of British refining capacity – still needs a final … Read moreExxon eyes upgrading UK refinery for more than $650 million

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U.S. natgas output, demand seen rising to record highs in 2018 – EIA

Sept 11 (Reuters) – U.S. dry natural gas production should rise to an all-time high of 80.96 billion cubic feet per day (bcfd) in 2018 from 73.55 bcfd in 2017, according to the Energy Information Administration’s Short Term Energy Outlook (STEO) on Tuesday. The latest September output projection for 2018 was down from the EIA’s … Read moreU.S. natgas output, demand seen rising to record highs in 2018 – EIA

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EIA cuts forecast for 2019 U.S. crude production growth

NEW YORK (Reuters) – U.S. crude oil production in 2019 is expected to grow at a slower rate than previously forecast, according to a monthly U.S. government forecast on Tuesday. U.S. crude production is expected to rise by 840,000 barrels per day (bpd) to 11.5 million bpd next year, lower than a previous expectation for … Read moreEIA cuts forecast for 2019 U.S. crude production growth

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Google buys into new Finnish wind energy in renewables search

HELSINKI (Reuters) – Google (GOOGL.O) said it has signed a 10-year deal to buy renewable energy from three new wind farms that are being built in Finland and which will power one of its data centers. Big companies have rushed to secure cheap renewable energy to manage costs and reduce their carbon footprint through so-called … Read moreGoogle buys into new Finnish wind energy in renewables search

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Iran Resorts to Floating Storage for Its Oil as Buyers Retreat

Sep 11, 2018, by Anthony DiPaola, Julian Lee and Alex Longley (Bloomberg) Iran is starting to store oil on its fleet of supertankers again as impending U.S. sanctions force the Persian Gulf country to revive a strategy it deployed under previous curbs. The build-up of crude in floating storage offshore Iran signals the effectiveness of … Read moreIran Resorts to Floating Storage for Its Oil as Buyers Retreat

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Big Oil Seen Facing ‘Monumental’ Costs to Reach Climate Goals

Sep 11, 2018, by Kelly Gilblom (Bloomberg) Europe’s largest oil companies must roughly double the amount of money they’re now dedicating to “new energies” by the end of the decade to meet key climate targets, according to a report from JPMorgan Chase & Co. that suggests the challenge facing the fossil fuel industry has been … Read moreBig Oil Seen Facing ‘Monumental’ Costs to Reach Climate Goals

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Fuel prices, shortages rising as Hurricane Florence speeds to U.S. Coast

(Reuters) – U.S. motorists are feeling the effects of Hurricane Florence as gas prices at the pump rose this week and stations in the Southeastern evacuation zones faced a run on fuel supplies. More than 1.5 million people were ordered on Tuesday to evacuate their homes along the U.S. southeast coast to escape Hurricane Florence, … Read moreFuel prices, shortages rising as Hurricane Florence speeds to U.S. Coast

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Traders bet Iran sanctions will leave market short of crude: Kemp

Oil pipe

By John Kemp LONDON (Reuters) – Oil traders have become much more concerned in recent weeks about the potential impact of U.S. sanctions on Iran and the effect on the availability of crude at the end of the year. Brent futures for November have moved to a premium of 45 cents a barrel over the … Read moreTraders bet Iran sanctions will leave market short of crude: Kemp

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Trump Takes Assault on Obama Climate Rules to Oil Wells

Sep 11, 2018, by Jennifer A. Dlouhy (Bloomberg) The Trump administration on Tuesday proposed relaxing Obama-era mandates meant to block rogue methane leaks from oil and gas wells, part of a broader assault on federal regulations designed to combat climate change. The Environmental Protection Agency proposal takes aim at requirements forcing energy companies to find … Read moreTrump Takes Assault on Obama Climate Rules to Oil Wells

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Targa Resources Corp. Elects New Board Member

Targa Resources

HOUSTON, Sept. 11, 2018 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has elected Ms. Beth A. Bowman to the Board effective September 7, 2018 and increased the size of its Board of Directors from ten to eleven directors. Ms. Bowman has served as a director of … Read moreTarga Resources Corp. Elects New Board Member

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Northern Oil and Gas, Inc. Announces Launch of Consent Solicitation to Holders of its Senior Secured Second Lien Notes Due 2023 and Launch of a New Senior Secured Credit Facility

MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company” or “Northern”) announced today the commencement of a consent solicitation (the “Consent Solicitation”) to solicit the consent of holders of its outstanding Senior Secured Second Lien Notes due 2023 (the “Senior Secured Notes”) for amendments to the indenture governing the Senior Secured Notes (the … Read moreNorthern Oil and Gas, Inc. Announces Launch of Consent Solicitation to Holders of its Senior Secured Second Lien Notes Due 2023 and Launch of a New Senior Secured Credit Facility

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U.S. and Saudi energy ministers meet in Washington: DOE

U.S. Energy Chief Rick Perry

WASHINGTON (Reuters) – U.S. Energy Secretary Rick Perry met with Saudi Energy Minister Khalid al-Falih on Monday in Washington, the U.S. Energy Department said, as the Trump administration encourages big oil-producing countries to keep output high ahead of Washington’s renewed sanctions on Iran’s crude exports. Perry and Falih discussed the state of world oil markets, … Read moreU.S. and Saudi energy ministers meet in Washington: DOE

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Asia buyers to receive more Saudi oil ahead of Iran sanctions

SINGAPORE/SEOUL (Reuters) – At least three North Asian buyers will receive extra supplies of oil from Saudi Arabia after the kingdom cut its prices for most grades in October and as they look to cushion the impact on supply of U.S. sanctions on Iran, sources said. Buyers have asked to lift more Saudi oil than … Read moreAsia buyers to receive more Saudi oil ahead of Iran sanctions

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Canada’s Freeland to hold NAFTA talks in Washington on Tuesday

OTTAWA (Reuters) – Canadian Foreign Minister Chrystia Freeland will meet U.S. Trade Representative Robert Lighthizer in Washington on Tuesday to discuss talks to renew the NAFTA trade pact, a government official said on Monday. Freeland spokesman Adam Austen did not give details. After more than a year of talks, Canada and the United States are … Read moreCanada’s Freeland to hold NAFTA talks in Washington on Tuesday

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Carolina residents rush for gas as powerful hurricane advances

(Reuters) – Residents of North and South Carolina began evacuating coastal areas on Monday, after Hurricane Florence intensified into a category four storm, stripping supermarket shelves and stocking up on fuel for their cars. The evacuations have prompted spot outages at gasoline stations, according to a spokesman for North Carolina Petroleum Marketers Association, but supplies … Read moreCarolina residents rush for gas as powerful hurricane advances

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Commentary: Hedge funds turn bullish again on oil

Pump Jack

By John Kemp LONDON (Reuters) – Hedge fund managers have turned bullish again towards crude and fuels, adding a significant number of new long positions in the last two weeks, after spending much of the previous four months liquidating positions. Hedge funds and other money managers raised their combined net long position in the six … Read moreCommentary: Hedge funds turn bullish again on oil

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Carbon Tax Is Yellen’s `Textbook Solution’ to Climate Change

Sep 10, 2018, by Jennifer A. Dlouhy (Bloomberg) Former Federal Reserve Chair Janet Yellen says a tax on carbon dioxide emissions would do more to combat climate change than a slew of federal environmental regulations being undone by the Trump administration. Yellen joins former Walmart Inc. Chairman Rob Walton, former Treasury Secretary Lawrence Summers and … Read moreCarbon Tax Is Yellen’s `Textbook Solution’ to Climate Change

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U.S. oil exports to Japan, South Korea soar as refiners reap steep discounts

SINGAPORE/HOUSTON (Reuters) – U.S. oil exports to Japan and South Korea will rise to record highs this month as Asian refiners take advantage of the steep discounts American sellers are offering after losing Chinese customers amid the trade dispute between Washington and Beijing. Ship tracking data in Thomson Reuters Eikon showed that oil exports from … Read moreU.S. oil exports to Japan, South Korea soar as refiners reap steep discounts

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Cleveland-Sized Mine Signals the Path for an Oil-Sands Revival

Sep 11, 2018, by Robert Tuttle (Bloomberg) A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments. In a forest clearing roughly the size of Cleveland, building-sized trucks dump tons of oily soil into a massive crushing facility, while conveyors move the dirt on … Read moreCleveland-Sized Mine Signals the Path for an Oil-Sands Revival

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China vows to respond if U.S. takes new steps on trade

BEIJING (Reuters) – China will respond if the United States takes any new steps on trade, the foreign ministry said on Monday, after President Donald Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States. On Friday, Trump said he was ready to levy additional taxes on practically … Read moreChina vows to respond if U.S. takes new steps on trade

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Five Things to Know in World Business Today

Sep 11, 2018, by Lorcan Roche Kelly (Bloomberg) Florence frightening gale Hurricane Florence is expected to flirt with Category 5 strength as it approaches the U.S. East Coast this week, with landfall expected late Thursday or early Friday somewhere between Charleston, South Carolina and Norfolk, Virginia. With risk modelers suggesting the damage could run to $20 … Read moreFive Things to Know in World Business Today

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Fuel shippers request FERC to expedite hearing on Colonial Pipeline rates

NEW YORK (Reuters) – Chevron, Valero and Delta Air Lines urged U.S. regulators to expedite a hearing on the fee structure of the largest fuel pipeline in the United States that they allege is costing them millions of dollars. Delays in a hearing on Colonial Pipeline’s rates by the U.S. Federal Energy Regulatory Commission (FERC) … Read moreFuel shippers request FERC to expedite hearing on Colonial Pipeline rates

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Russia’s Novak says OPEC+ may sign new long-term deal in December: TASS

MOSCOW (Reuters) – Russian Energy Minister Alexander Novak said on Tuesday that the OPEC+ oil group may sign a new long-term cooperation deal at the beginning of December, the TASS news agency reported. OPEC, Russia and other non-OPEC members agreed in June to return to 100 percent compliance with oil output cuts that began in … Read moreRussia’s Novak says OPEC+ may sign new long-term deal in December: TASS

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Trump Said to Relax Methane Pollution Curbs on Oil and Gas Wells

September 10, 2018, by Jennifer A. Dlouhy (Bloomberg) The Trump administration is preparing to unwind Obama-era limits on methane leaking from oil and gas wells, responding to industry concerns that the mandates meant to combat climate change are both unnecessary and too expensive. The Environmental Protection Agency has prepared a proposal to ease two-year-old requirements forcing … Read moreTrump Said to Relax Methane Pollution Curbs on Oil and Gas Wells

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California Governor Jerry Brown Signs Bill for Carbon-Free Power by 2045

Sep 10, 2018, by Mark Chediak (Bloomberg) California Governor Jerry Brown signed legislation that would require all of the state’s electricity to come from carbon-free sources by 2045, marking the biggest step yet in his fight against global warming. The measure, passed last month by the legislature, will eliminate the reliance on fossil fuels to … Read moreCalifornia Governor Jerry Brown Signs Bill for Carbon-Free Power by 2045

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Shale Barons Find Fresh Powder in Wyoming: Liam Denning

Sep 10, 2018, by Liam Denning (Bloomberg Opinion) The Permian basin is the lodestar of the U.S. oil business. But its very success has left an increasing quantity of barrels all fracked up with nowhere to go, punishing companies riding the Permian wave (just ask Halliburton Co.). On the other hand, the backlog does let other regions … Read moreShale Barons Find Fresh Powder in Wyoming: Liam Denning

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Is Your Business Ready to Capitalize on Artificial Intelligence? – Aimsio

Artificial intelligence has found its way into daily life. From Siri and Google Maps, to smart home virtual assistants and cars that parallel-park themselves, AI is available to consumers who want help doing hard things, faster. Considering the popularity and functionality of these inventions, you may be wondering if AI can also help your business … Read moreIs Your Business Ready to Capitalize on Artificial Intelligence? – Aimsio

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Energy XXI Gulf Coast Provides Update on Merger with Affiliates of Cox Oil LLC

HOUSTON, Sept. 10, 2018 (GLOBE NEWSWIRE) — Energy XXI Gulf Coast, Inc. (“EGC” or the “Company”) (NASDAQ: EGC) today provided an update on the merger with affiliates of Cox Oil LLC (“Cox”). On September 9, 2018, EGC entered into an amendment to the Agreement and Plan of Merger to provide for the closing date of … Read moreEnergy XXI Gulf Coast Provides Update on Merger with Affiliates of Cox Oil LLC

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North American Wind Power O&M Costs to Increase Nearly 40 Percent in Coming Decade, IHS Markit Says

HOUSTON–(BUSINESS WIRE)–Operations and maintenance (O&M) expenses for wind power assets will cost the industry about $7.5 billion annually by 2021, according to new analysis from IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions. IHS Markit estimates the current North American wind O&M market is valued at approximately $5 billion to … Read moreNorth American Wind Power O&M Costs to Increase Nearly 40 Percent in Coming Decade, IHS Markit Says

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Baker Hughes, a GE company Announces August 2018 Rig Counts

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for August 2018 was 1,008, up 11 from the 997 counted in July 2018, and up 56 from the 952 counted in August 2017. The international offshore rig count for August 2018 was 212, down 5 from … Read moreBaker Hughes, a GE company Announces August 2018 Rig Counts

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VW investors seek $11 billion damages over dieselgate scandal

Volkswagen Electric Car

BRAUNSCHWEIG, Germany (Reuters) – Volkswagen (VOWG_p.DE) went on trial on Monday to face investors seeking 9.2 billion euros ($10.6 billion) in compensation, arguing the carmaker should have informed shareholders earlier about its diesel emissions scandal. Shareholders representing 1,670 claims are seeking compensation for a slide in Volkswagen’s (VW) share price triggered by the scandal, which … Read moreVW investors seek $11 billion damages over dieselgate scandal

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Oil up as U.S. drilling stalls, Iranian sanctions bite

LONDON (Reuters) – Oil prices rose on Monday as U.S. drilling stalled and investors anticipated lower supply once new U.S. sanctions against Iran’s crude exports kick in from November. Benchmark Brent crude oil rose $1.09 a barrel, or 1.4 percent, to a high of $77.92 and was trading at $77.50 by 1130 GMT. U.S. light … Read moreOil up as U.S. drilling stalls, Iranian sanctions bite

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Oil Demand Seen Peaking by 2023 While Climate Targets Missed

Sep 9, 2018, by Kelly Gilblom (Bloomberg) Within 20 years, oil use will have long since peaked, renewables and natural gas will account for about half of energy supply and the cost of keeping the lights on will plummet. But that still won’t be enough to meet climate goals, according to a forecast from energy … Read moreOil Demand Seen Peaking by 2023 While Climate Targets Missed

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Five Things to Know in World Business Today

Sep 10, 2018, by Lorcan Roche Kelly (Bloomberg) Trump threats President Donald Trump said on Friday he has firepower to impose new tariffs on China “at short notice,” leading former People’s Bank of China Governor Zhou Xiaochuan to warn the impact on domestic economic confidence may be larger than the immediate hit to trade. Shares in China and Hong Kong … Read moreFive Things to Know in World Business Today

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Iraq Pumping Crude Oil at Record Levels, Unaffected by Protests

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

Sep 9, 2018, by Khalid Al-Ansary (Bloomberg) Iraq is pumping crude at record levels and the violent street protests that engulfed the oil-rich south have not affected energy facilities in OPEC’s No. 2 producer. The country’s crude exports reached a record of 3.59 million barrels a day, Oil Minister Jabbar al-Luaibi said after a meeting … Read moreIraq Pumping Crude Oil at Record Levels, Unaffected by Protests

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Plains All American Pipeline convicted in 2015 California oil spill

(Reuters) – A California jury on Friday found the Houston-based Plains All American Pipeline company guilty on criminal charges of fouling state waters and harming wildlife in a major oil spill three years ago along the Pacific shoreline near Santa Barbara. The verdict closed a chapter in the state’s bid to hold Plains All American … Read morePlains All American Pipeline convicted in 2015 California oil spill

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U.S. energy chief to meet Russian, Saudi counterparts ahead of Iran sanctions

WASHINGTON/MOSCOW (Reuters) – U.S. Energy Secretary Rick Perry will meet his counterparts from Saudi Arabia and Russia starting on Monday, sources familiar with the matter said, as the Trump administration encourages oil-producing countries to keep output up two months before it is due to renew sanctions on Iran’s crude exports. Perry will meet Khalid al-Falih, … Read moreU.S. energy chief to meet Russian, Saudi counterparts ahead of Iran sanctions

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U.S. Wish for Zero Oil Imports From Iran Granted by South Korea

Sep 9, 2018, by Heesu Lee (Bloomberg) South Korea has become the first of Iran’s top-three oil customers to fulfill a hard-line U.S. demand that buyers cut imports to zero. The Asian nation didn’t import any crude from Iran last month, compared with 194,000 barrels a day in July, tanker-tracking and shipping data compiled by … Read moreU.S. Wish for Zero Oil Imports From Iran Granted by South Korea

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Hedge Funds Defy Emerging Market Rout as Bullish Crude Bets Grow

Sep 7, 2018, by Alex Nussbaum (Bloomberg) Investors are more certain that oil prices will increase — but the market isn’t playing along. Hedge fund bets on rising Brent oil prices jumped to the highest in two months earlier this week, according to data released Friday. The optimism proved mistimed, with crude tumbling the following … Read moreHedge Funds Defy Emerging Market Rout as Bullish Crude Bets Grow

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Grid Resilience is the Key to a More Renewable Future

By Darren Farrar, Contributor  (Renewable Energy World) The whole energy landscape has, in only ten years, changed beyond all recognition. The popularity of using responsible and renewable energy sources is growing. And the movement is being backed by new remits for distribution operators that allow, amongst other things, more green energy to be integrated into … Read moreGrid Resilience is the Key to a More Renewable Future

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Factbox: Tesla executive departures since 2016

(Reuters) – Electric carmaker Tesla Inc has seen a flurry of senior executive exits in recent months. Here is a list of executive departures since 2016: 2018 Sept. 7 – Gabrielle Toledano, chief people officer at Tesla, leaves the company, according to a Bloomberg report. reut.rs/2NrTnXS Sept. 4 – Dave Morton, chief accounting officer at Tesla, … Read moreFactbox: Tesla executive departures since 2016

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GLOBAL LNG-Supported by demand, prices exceed past winter peak

FILE PHOTO - The Offshore LNG regasification terminal, the FSRU Toscana, is towed into Valletta's Grand Harbour July 1, 2013. REUTERS/Darrin Zammit Lupi

By Sabina Zawadzki LONDON, Sept 7 (Reuters) – Asian spot liquefied natural gas (LNG) prices edged higher this week as Asian demand ahead of the winter persisted and the region’s vulnerability to unpredictable natural events was underscored by the worst power outages in years in Japan due to an earthquake. Spot prices for October LNG-AS … Read moreGLOBAL LNG-Supported by demand, prices exceed past winter peak

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

Sept 7 (Reuters) – U.S. energy companies cut oil rigs for the second week in three as the rig count has stagnated over the past three months along with crude prices. Drillers cut two oil rigs in the week to Sept. 7, bringing the total count down to 860, General Electric Co’s Baker Hughes energy … Read moreU.S. oil drillers cut rigs for second week in three – Baker Hughes

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Permian Oil Auction Gets Record $1 Billion as Bidding Soars

Sep 7, 2018, by Kevin Crowley and Ryan Collins (Bloomberg) The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction, a record high for North America’s biggest oil field. The state’s previous record was $40,001 an acre set in … Read morePermian Oil Auction Gets Record $1 Billion as Bidding Soars

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Delek US Announces $100 million Share Repurchase Plan for Third Quarter 2018

BRENTWOOD, Tenn., Sept. 06, 2018 (GLOBE NEWSWIRE) — Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced it expects to complete a $100.0 million 10b5-1 repurchase plan of Delek US shares in the third quarter 2018 subject to 10b5-1 volume limitations. During the third quarter, approximately $30.0 million of shares were repurchased through the … Read moreDelek US Announces $100 million Share Repurchase Plan for Third Quarter 2018

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China, ExxonMobil discuss $10 bln investment in Guangdong – state TV

BEIJING, Sept 7 (Reuters) – Chinese officials and executives of ExxonMobil Corp discussed a $10 billion investment by the U.S.-based firm in the southern province of Guangdong, Chinese state television reported on Friday. The state TV report, during its summary of a meeting between Chinese Premier Li Keqiang and ExxonMobil Chief Executive Darren Woods, quoted … Read moreChina, ExxonMobil discuss $10 bln investment in Guangdong – state TV

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Tesla May Emerge a Winner in Nevada’s `Toss-Up’ Senate Race

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

Sep 7, 2018, by Ari Natter (Bloomberg) Nevada’s nail-biter of a Senate race could end up benefiting Tesla Inc. and other makers of electric vehicles. Republican Senator Dean Heller, who is engaged in a re-election fight with Democratic challenger Jacky Rosen, is preparing legislation that would extend the $7,500 per vehicle federal tax credit that’s … Read moreTesla May Emerge a Winner in Nevada’s `Toss-Up’ Senate Race

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Chesapeake close to settlement with landowners, stock falls

(Reuters) – Chesapeake Energy Corp stock fell almost 6 percent on Thursday after a price fixing case looked to be approaching an out-of-court settlement for $6.95 million. Lawyers for some landowners in Oklahoma and Kansas asked a U.S. federal judge to approve the settlement, which was filed with Chesapeake and Tom Ward, one of the … Read moreChesapeake close to settlement with landowners, stock falls

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U.S. Treasury targets Syria oil delivery networks with new sanctions

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

WASHINGTON (Reuters) – The U.S. Treasury Department said on Thursday it was imposing sanctions on four people and five entities it said facilitated petroleum shipments and financing to the Syrian government. It said in a statement the sanctions targeted Muhammad al-Qatirji and his company, which it said facilitated fuel trade between the Syrian government and … Read moreU.S. Treasury targets Syria oil delivery networks with new sanctions

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Canadian Crude Prices Collapse as Alberta Glut Grows Again

Sep 7, 2018, by Robert Tuttle and Sheela Tobben (Bloomberg)  Canadian crude prices are plunging once again as repairs were completed on Alberta’s second-biggest oil sands upgrader and production surged from a new mine. Synthetic crude, a light grade produced in upgraders, fell Thursday to the biggest discount to West Texas Intermediate futures since December … Read moreCanadian Crude Prices Collapse as Alberta Glut Grows Again

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Five Things to Know in World Business Today

Sep 7, 2018, by Lorcan Roche Kelly (Bloomberg) Payrolls The consensus is for employers to have added 191,000 new positions in August, pushing the unemployment rate down to 3.8 percent. The data, released at 8:30 a.m. Eastern Time this morning, is also expected to show average hourly earnings holding steady at 2.7 percent. There were mixed … Read moreFive Things to Know in World Business Today

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Canada Invests in Net-zero Retrofit Program for Homeowners

Sept 6, 2018, by Pamela Largue, Smart Energy International (Renewable Energy World) Bernadette Jordan, member of parliament for South Shore, St. Margarets, on behalf of Canada’s Minister of Natural Resources, the Honourable Amarjeet Sohi, has announced a $374,830 investment to help homeowners bring their home energy use to the net-zero level. In collaboration with the Clean … Read moreCanada Invests in Net-zero Retrofit Program for Homeowners

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Qatar could invest in German LNG terminal: Qatar energy minister

BERLIN (Reuters) – Qatar’s energy minister on Thursday threw his support behind the possible cooperation of Qatar Petroleum, the world’s top supplier of liquefied natural gas (LNG), on a potential German LNG terminal. Mohammed al-Sada told Reuters that discussions were under way but it would be premature to talk about any specific investment terms because … Read moreQatar could invest in German LNG terminal: Qatar energy minister

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Pacific leaders seek U.S. return to Paris climate pact

SYDNEY (Reuters) – Pacific island nations declared climate change to be their “single greatest threat”, urging Washington to return to the Paris Agreement on climate, just as Western powers seek to check China’s rising influence in the region. Australia, which has backed away from its own commitment to Paris without exiting the pact, was among … Read morePacific leaders seek U.S. return to Paris climate pact

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Mexico president-elect plans oil drilling tenders from December

MEXICO CITY (Reuters) – Mexican President-elect Andres Manuel Lopez Obrador said on Thursday his government plans to launch tenders for drilling oil wells from early December. Lopez Obrador, who takes office on Dec. 1, also said the minimum wage along Mexico’s northern border region with the United States would be doubled from Jan. 1. The … Read moreMexico president-elect plans oil drilling tenders from December

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OPEC, non-OPEC panel to discuss sharing oil-output boost

DUBAI/LONDON (Reuters) – An OPEC and non-OPEC technical committee will next week discuss proposals for sharing out an oil-output increase, sources familiar with the matter said, a tense topic for the producer group after it decided in June to ease supply curbs. A panel called the Joint Technical Committee will on Tuesday consider proposals on … Read moreOPEC, non-OPEC panel to discuss sharing oil-output boost

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In Response to Trump, Saudis Ramp Up Oil Exports Into the U.S.

Sep 7, 2018, by Javier Blas (Bloomberg) Saudi Arabia has markedly increased oil exports to America, a sign OPEC’s leading producer is responding to pressure from U.S. President Donald Trump to cool down the energy market. While the export boost started earlier this year, it accelerated over the past three months after Trump repeatedly — … Read moreIn Response to Trump, Saudis Ramp Up Oil Exports Into the U.S.

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Lawsuit says Tesla, Elon Musk sought to ‘burn’ short-sellers

Tesla Motors Inc Chief Executive Elon Musk pauses during a news conference in Tokyo September 8, 2014. REUTERS/Toru Hanai

(Reuters) – The prominent short-seller Andrew Left has sued Tesla Inc (TSLA.O) and its Chief Executive Elon Musk, saying Musk fraudulently engineered his since-abandoned plan to take Tesla private to “burn” investors hoping the electric car company’s stock price would fall. Left, who runs Citron Research, said in his proposed class-action complaint on Thursday that … Read moreLawsuit says Tesla, Elon Musk sought to ‘burn’ short-sellers

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Oil Set for Weekly Loss as Emerging-Market Contagion Fears Grow

Sep 7, 2018, by Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil is poised for the biggest weekly decline since mid-July as a rout in emerging markets raises contagion fears. Futures in New York, little changed on Friday, are down 2.9 percent this week. Developing-nation equities slipped into a bear market, increasing concerns that the tumult … Read moreOil Set for Weekly Loss as Emerging-Market Contagion Fears Grow

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Cheniere Partners Announces Offering of $1.1 Billion Senior Notes Due 2026

HOUSTON–(BUSINESS WIRE)–Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) announced today that it intends to offer, subject to market and other conditions, $1.1 billion principal amount of Senior Notes due 2026 (the “CQP 2026 Notes”). Cheniere Partners intends to use the net proceeds from the offering, after deducting the initial purchasers’ discounts and commissions … Read moreCheniere Partners Announces Offering of $1.1 Billion Senior Notes Due 2026

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ExxonMobil Signs Framework Agreement for Proposed Chemical Complex in China

SPRING, Texas–(BUSINESS WIRE)–ExxonMobil said today that it has signed a cooperation framework agreement with the Guangdong Provincial People’s Government to advance discussions concerning the proposed construction of a chemical complex in the Huizhou Dayawan Petrochemical Industrial Park. The new facility would help meet expected demand growth for chemical products in China. The multibillion-dollar project, which … Read moreExxonMobil Signs Framework Agreement for Proposed Chemical Complex in China

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Kinder Morgan and EagleClaw Announce Final Investment Decision on Permian Highway Pipeline Project

HOUSTON–(BUSINESS WIRE)–Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI), and EagleClaw Midstream Ventures, LLC (EagleClaw), a portfolio company of Blackstone Energy Partners, today announced a final investment decision to proceed with the Permian Highway Pipeline Project (PHP Project) after having executed definitive joint venture agreements and having secured sufficient … Read moreKinder Morgan and EagleClaw Announce Final Investment Decision on Permian Highway Pipeline Project

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Refining capacity, ‘scrubber’ uptake to balance marine fuel markets in 2020: Goldman

SINGAPORE (Reuters) – New oil refining capacity and an increase in the number of ships adding cleaning systems to their smokestacks will help marine fuel markets find balance once new sulfur regulations kick in, Goldman Sachs said. To combat air pollution, the United Nations’ shipping agency has set global regulations to cap sulfur content in … Read moreRefining capacity, ‘scrubber’ uptake to balance marine fuel markets in 2020: Goldman

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Canada might appeal ruling that quashed pipeline approval: Trudeau

OTTAWA (Reuters) – The Canadian government might appeal a court ruling that overturned federal approval of the Trans Mountain oil pipeline expansion, Prime Minister Justin Trudeau said on Wednesday. Trudeau told reporters in Edmonton that Ottawa was looking at its legislative and other options after the Federal Court of Appeal last month said the government … Read moreCanada might appeal ruling that quashed pipeline approval: Trudeau

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How Oil Executives Make Their Own Luck on Pay: Liam Denning

Big Oil

Sep 4, 2018, by Liam Denning (Bloomberg Opinion) You have to make your own luck, allegedly, but it really helps when stuff just goes your way. And it really really helps if you can somehow combine favorable vagaries with a little fortune-engineering of your own. Such alchemy is practiced in the C-suites of an industry with a … Read moreHow Oil Executives Make Their Own Luck on Pay: Liam Denning

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Kinder Weighs Full Exit From Canada After Trans Mountain Debacle

FILE PHOTO: A tanker docks at Westridge Terminal, the loading area for Kinder Morgan's Trans Mountain pipeline in Burnaby, British Columbia, Canada in a May 10, 2013 file photo. Kinder Morgan Canada/Handout/File Photo via REUTERS

Sep 5, 2018, by Rachel Adams-Heard (Bloomberg) Kinder Morgan Inc. hinted at a potential offloading of its remaining Canadian assets following the sale of the contentious Trans Mountain pipeline expansion to the federal government. Speaking at an energy conference Wednesday, Kinder Morgan Chief Executive Officer Steve Kean said that while its Canadian affiliate has “attractive … Read moreKinder Weighs Full Exit From Canada After Trans Mountain Debacle

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Five Things to Know in World Business Today

Sep 6, 2018, by Lorcan Roche Kelly (Bloomberg) Bear with us The MSCI Emerging Markets Index retreated for a seventh day, bringing its drop since a peak in January to near 20 percent. Should it reach that level at the New York close, it will place the gauge in a bear market. JPMorgan Chase & Co. and BlackRock Inc. … Read moreFive Things to Know in World Business Today

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U.S. energy operations begin recovering after Storm Gordon

HOUSTON (Reuters) – Energy companies and port operators along the U.S. Gulf Coast took steps on Wednesday to resume operations after Tropical Storm Gordon shut more than 9 percent of the region’s oil and gas output. An offshore platform is pictured after Tropical Storm Gordon in Dauphin Island, Alabama, U.S., September 5, 2018. REUTERS/Jonathan Bachman … Read moreU.S. energy operations begin recovering after Storm Gordon

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U.S. Gulf of Mexico oil output takes further hit from Storm Gordon

HOUSTON (Reuters) – Tropical Storm Gordon forced a cut of 9.36 percent of crude oil production in U.S.-regulated areas of the Gulf of Mexico, slightly more than Tuesday, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Wednesday. Natural gas output in the northern Gulf of Mexico was cut by 10.39 percent on … Read moreU.S. Gulf of Mexico oil output takes further hit from Storm Gordon

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Saudi Arabia raises October crude prices to Europe, cuts Asia

DUBAI (Reuters) – Saudi Aramco has raised the European price for its Arab Light crude grade for October, the state oil producer said on Wednesday, as Russian Urals prices rally and European refiners seek to replace Iranian oil supplies ahead of the November U.S. sanctions deadline. Aramco has raised the official selling price (OSP) to … Read moreSaudi Arabia raises October crude prices to Europe, cuts Asia

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Conoco waiting on Venezuela to pay $2 billion settlement – CEO

FILE PHOTO: Logos of ConocoPhillips are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai/File Photo - RC11AEA51EE0

Sept 5 (Reuters) – U.S. oil producer ConocoPhillips is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the South American nation, Chief Executive Ryan Lance said on Wednesday. The company last month suspended legal attachments efforts that had cut Venezuela’s oil exports following a deal that allowed the … Read moreConoco waiting on Venezuela to pay $2 billion settlement – CEO

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At ‘5 minutes to midnight’, rights group calls time on climate change

LONDON (Thomson Reuters Foundation) – Amnesty International’s new chief, Kumi Naidoo, has little patience for U.N. climate change talks that have made slow progress for decades but left the world heading for disaster. “The return on investment I would say should cause us to pause and reflect,” Naidoo said in an interview this week, as … Read moreAt ‘5 minutes to midnight’, rights group calls time on climate change

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Oil demand to hit 100 mln bpd sooner than projected: OPEC’s Barkindo

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

CAPE TOWN (Reuters) – World oil consumption will reach 100 million barrels per day (bpd) later this year, hitting that level much sooner than previously forecast, OPEC’s secretary-general said on Wednesday. Mohammad Barkindo also told an energy conference in South Africa’s Cape Town that a stable environment was needed to encourage oil industry investment to … Read moreOil demand to hit 100 mln bpd sooner than projected: OPEC’s Barkindo

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Devon says will deal with gas issues before bringing wells online

(Reuters) – U.S.-based Devon Energy Corp will not bring oil wells online unless it has the capacity to deal with the gas byproducts, Chief Executive David Hager told a conference on Wednesday. Gas production, a byproduct of drilling in the U.S. Permian basin, has hit record highs this year, filling available space on existing pipelines … Read moreDevon says will deal with gas issues before bringing wells online

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Anadarko returning workers to Gulf of Mexico platforms as Gordon weakens

(Reuters) – Anadarko Petroleum Corp said on Wednesday it had begun moving people back to its Horn Mountain oil platform and Marlin oil and natural gas platform in the Gulf of Mexico, as storm Gordon weakened while moving onshore. Other company-operated and producing facilities in the Gulf of were unaffected by the storm, Anadarko said … Read moreAnadarko returning workers to Gulf of Mexico platforms as Gordon weakens

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U.S. trade deficit surges to five-month high as exports fall

WASHINGTON (Reuters) – The U.S. trade deficit rose to a five-month high in July, with the politically sensitive gap with China hitting a record high, which economists said could embolden the Trump administration to aggressively pursue its “America First” agenda. The administration’s protectionist trade policy has left the United States embroiled in tit-for-tat tariffs with … Read moreU.S. trade deficit surges to five-month high as exports fall

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T.A. Cook
Gardner Denver
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Suncor holding off on crude expansion amid Canadian pipeline confusion

WINNIPEG, Manitoba (Reuters) – Suncor Energy Inc (SU.TO), one of Canada’s biggest oil producers, will not sanction further expansions of crude production until it becomes clearer when new pipelines will be ready, Chief Executive Steve Williams said on Wednesday. A court overturned last week the Canadian government’s approval of the Trans Mountain pipeline expansion. That … Read moreSuncor holding off on crude expansion amid Canadian pipeline confusion

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GeoLogic launches an exciting new product basinINTEL: It results in less time forecasting, more time analyzing your energy data

Introducing geoLOGIC basinINTEL, powered by BetaZi™ Calgary, Alberta- September 4, 2018− geoLOGIC systems ltd., Canada’s leading oil & gas information provider, is pleased to announce a new joint-initiative with California-based predictive analytics leader BetaZi LLC. geoLOGIC basinINTEL, powered by BetaZi™, combines geoLOGIC’s premium data with BetaZi’s unique physiostatistical algorithm to deliver accurate, pre-computed probabilistic production … Read moreGeoLogic launches an exciting new product basinINTEL: It results in less time forecasting, more time analyzing your energy data

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US accused of planning crackdown on pipeline protests

White House

BILLINGS, Mont. — Civil liberties advocates sued the U.S. government Tuesday, alleging law enforcement agencies have been making preparations to crack down on anticipated protests over the Keystone XL oil pipeline. Attorneys for the American Civil Liberties Union and its Montana affiliate filed the lawsuit in U.S. District Court in Missoula against the Defence, Homeland … Read moreUS accused of planning crackdown on pipeline protests

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Gardner Denver
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Chevron Recommends Stockholders Reject Mini-Tender Offer by TRC Capital Corporation

SAN RAMON, Calif.–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) said today it has been notified of an unsolicited “mini-tender offer” by TRC Capital Corporation to purchase up to 1 million shares of its common stock, representing approximately 0.052% of Chevron’s outstanding shares. TRC Capital’s offer price of $114.00 is 4.21% below the closing price of Chevron’s stock … Read moreChevron Recommends Stockholders Reject Mini-Tender Offer by TRC Capital Corporation

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T.A. Cook
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Rising Oil Prices and Cost Efficiencies Driving Greater Global Demand for Offshore Drilling Rigs through 2020, IHS Markit Says

HOUSTON–(BUSINESS WIRE)–Consistently higher oil prices and greater cost-efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to new analysis from IHS Markit (Nasdaq: INFO), the leading global source of critical information and insight. In its first worldwide mobile rig forecast for 2020, IHS Markit, which … Read moreRising Oil Prices and Cost Efficiencies Driving Greater Global Demand for Offshore Drilling Rigs through 2020, IHS Markit Says

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Gardner Denver
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Kinder Morgan to Apply Trans Mountain Proceeds to Debt Reduction

HOUSTON–(BUSINESS WIRE)–Kinder Morgan, Inc., (NYSE: KMI) today announced its intention to vote in favor of the Kinder Morgan Canada Limited (TSX: KML) board’s proposals that will facilitate the distribution of approximately $2.0 billion of Trans Mountain net sale proceeds as a return of capital to KMI; and reiterated its intention to use the proceeds to … Read moreKinder Morgan to Apply Trans Mountain Proceeds to Debt Reduction

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T.A. Cook
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STEP Energy Services

Mexico’s president-elect sets out plan for new $8 billion oil refinery

MEXICO CITY (Reuters) – Mexico’s next government plans to build what could be the country’s largest oil refinery, with construction set to begin as soon as next year, President-elect Andres Manuel Lopez Obrador said on Tuesday. Mexico’s president-elect Andres Manuel Lopez Obrador speaks to the media during a news conference in Mexico City Mexico, August … Read moreMexico’s president-elect sets out plan for new $8 billion oil refinery

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T.A. Cook
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Louisiana refineries plan to keep running as storm shifts east

Refinery

HOUSTON (Reuters) – Seven refineries in eastern Louisiana plan to continue normal operations while keeping a careful eye on Tropical Storm Gordon, whose forecast path moved eastward on Tuesday with landfall in Mississippi, said sources familiar with plant operations. Being west of the storm, the refineries should be on the side of Gordon producing the … Read moreLouisiana refineries plan to keep running as storm shifts east

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Saudi Arabia aims to keep crude in $70 to $80 band

DUBAI/LONDON (Reuters) – Saudi Arabia wants oil to stay between $70 and $80 a barrel for now as the world’s biggest crude exporter strikes a balance between maximizing revenue and keeping a lid on prices until U.S. congressional elections, OPEC and industry sources said. After announcing the flotation of Saudi Aramco in 2016, the kingdom … Read moreSaudi Arabia aims to keep crude in $70 to $80 band

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Canada to stick to guns at NAFTA talks despite Trump pressure

The flags of Canada, Mexico and the U.S. are seen on a lectern before a joint news conference on the closing of the seventh round of NAFTA talks in Mexico City, Mexico March 5, 2018. REUTERS/Edgard Garrido

WASHINGTON/OTTAWA (Reuters) – Canada heads into talks in Washington on Wednesday to renew NAFTA determined not to back down on key issues despite threats from U.S. President Donald Trump to retaliate against the Canadian economy unless Ottawa gives ground quickly. Trump, fresh from wrapping up a side deal last week with Mexico, the third member … Read moreCanada to stick to guns at NAFTA talks despite Trump pressure

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Western States Proceed with Climate Legislation Regardless of Trump’s “ACE” Rule

by Tim McMahan, Rachel Cox, and Allison Smith (Renewable Energy World) Spurred by President Trump’s announcement that the United States will abandon commitments President Obama made in the Paris Climate Agreement, western seaboard elected officials are highly motivated to act on climate change, notwithstanding the Trump Administration’s actions to replace the Clean Power Plan. California has a well-established … Read moreWestern States Proceed with Climate Legislation Regardless of Trump’s “ACE” Rule

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Gardner Denver
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China to Play Waiting Game as U.S. Trade Pain Worsens: Deutsche

Sep 4, 2018, by Malcolm Scott (Bloomberg) Time may prove to be on China’s side as the trade war with the U.S. escalates. Tariffs already imposed on $50 billion worth of Chinese products largely avoided consumer goods or those that are hard to source from other countries, shielding U.S. shoppers from their direct impact. That’ll … Read moreChina to Play Waiting Game as U.S. Trade Pain Worsens: Deutsche

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Five Things to Know in World Business Today

Sep 5, 2018, by Lorcan Roche Kelly (Bloomberg) Sell off Most emerging-market currencies were weakening again this morning, with South Africa’s rand and Indonesia’s rupiah getting hit the hardest. The benchmark Jakarta Composite Index closed 3.8 percent lower, as an emergency rate hike to shore up the currency is seen as increasingly likely by some analysts. … Read moreFive Things to Know in World Business Today

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Gardner Denver
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Iran set to move main oil export terminal out of Gulf

September 5, 2018, by Arabian Business Iran is to move its main oil export terminal from the Gulf to the Oman Sea, says President Hassan Rouhani. Iran is to move its main oil export terminal from the Gulf to the Oman Sea, President Hassan Rouhani announced on Tuesday, sparing its tankers from using the strategic … Read moreIran set to move main oil export terminal out of Gulf

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T.A. Cook
Gardner Denver
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Halliburton sees 8 to 10 cents share hit in 3Q as Permian activity moderates

HOUSTON, Sept 5 (Reuters) – Oilfield services provider Halliburton expects moderating oil and gas activity in North America and a slower-than-expected ramp up of new contracts in the Middle East to impact its third quarter results by 8 to 10 cents per share, chief executive Jeff Miller said on Wednesday. Budget and pipeline constraints in … Read moreHalliburton sees 8 to 10 cents share hit in 3Q as Permian activity moderates

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Gardner Denver
T.A. Cook
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Schlumberger CEO warns transport constraints to slow shale gains

Schlumberger

HOUSTON (Reuters) – The chief executive of the largest oilfield service provider, Schlumberger, warned on Tuesday that bottlenecks in the largest U.S. shale basin would slow oil production growth and investments in the region. A surge in oil and gas production in the Permian basin of west Texas and New Mexico has outstripped transport capacity, … Read moreSchlumberger CEO warns transport constraints to slow shale gains

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Venezuelan crude sales to U.S. fell in August on port interruptions

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

(Reuters) – Venezuela’s crude sales to the United States fell in August for the second month in a row as exports of two of the South American country’s main grades dropped following port interruptions by a tanker collision, according to Thomson Reuters Trade Flows data. Venezuela’s state-run oil company Petróleos de Venezuela, S.A., known as … Read moreVenezuelan crude sales to U.S. fell in August on port interruptions

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Gardner Denver
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Transocean to buy Ocean Rig in $2.7 billion deal

(Reuters) – Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector. The acquisition signals new optimism for offshore drillers, which were hit hard by the … Read moreTransocean to buy Ocean Rig in $2.7 billion deal

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T.A. Cook
Gardner Denver
STEP Energy Services
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Residential Energy Storage Surging, No Longer Just a `Cool Toy’

Tesla Batteries

Sep 5, 2018, by Brian Eckhouse (Bloomberg) Demand for residential energy-storage is surging in the U.S., with more capacity installed in the second quarter than in all of 2017. Consumers installed home batteries with 57.5 megawatt-hours of storage capacity last quarter, according to a report Wednesday from the Energy Storage Association and Wood Mackenzie Power … Read moreResidential Energy Storage Surging, No Longer Just a `Cool Toy’

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Gardner Denver
T.A. Cook
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Climate Envoys Seek Successor to $33 Billion UN Carbon Market

Sep 4, 2018, by Mathew Carr (Bloomberg) After the United Nations’s first attempt to build a global carbon market fizzled from $33 billion to almost nothing, climate envoys from nearly 200 countries are meeting in Bangkok this week to give it another go. The diplomats gathered in Bangkok this week are working on a so-called … Read moreClimate Envoys Seek Successor to $33 Billion UN Carbon Market

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Dirty secrets: tainted shipping fuel sparks calls for tighter quality control

SINGAPORE (Reuters) – A wave of contaminated fuel that has clogged and damaged engines on hundreds of oil tankers and container vessels in the past months has pushed shippers to demand stricter quality controls around the world. The calls are shining a light on the notoriously opaque shipping fuel sector, where any contamination can spread … Read moreDirty secrets: tainted shipping fuel sparks calls for tighter quality control

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T.A. Cook
Gardner Denver
STEP Energy Services
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Greener growth could add $26 trillion to world economy by 2030: study

September 4, 2018, by Alister Doyle and Nina Chestney OSLO/LONDON (Reuters) – Strong action to combat climate change could cumulatively add at least $26 trillion to the world economy by 2030, according to a study on Wednesday which seeks to dispel fears that a shift from fossil fuels will undermine growth. President Donald Trump, for … Read moreGreener growth could add $26 trillion to world economy by 2030: study

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T.A. Cook
Gardner Denver
STEP Energy Services
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Transocean May Reactivate 3 Rigs a Year as Recovery Takes Hold

Sep 4, 2018, by David Wethe (Bloomberg) The world’s biggest offshore oil driller may reactivate two to three mothballed rigs a year as the industry embarks on a full-fledged recovery for deepwater exploration. In announcing a $2.7 billion deal for a rival operator, Transocean Ltd. cited a forecast by energy consultant Wood Mackenzie Ltd. that … Read moreTransocean May Reactivate 3 Rigs a Year as Recovery Takes Hold

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Tropical Storm Gordon shuts 9 percent of oil output in Gulf of Mexico

HOUSTON (Reuters) – Tropical Storm Gordon has shut 9.23 percent of daily crude oil production in the U.S.-regulated Gulf of Mexico, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Tuesday. The storm, forecast to come ashore late Tuesday or early Wednesday in Mississippi as a hurricane, has also shut 9.06 percent of … Read moreTropical Storm Gordon shuts 9 percent of oil output in Gulf of Mexico

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T.A. Cook
Gardner Denver
STEP Energy Services
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After summer of discontent, Brent oil investors turn optimistic

LONDON (Reuters) – Brent futures show investors are more optimistic that demand for oil will outpace supply than they have been in six weeks, ahead of the potential loss of Iranian crude due to U.S. sanctions and because of a spike in unplanned production outages. The price of the front-month November contract LCOc1 has overtaken … Read moreAfter summer of discontent, Brent oil investors turn optimistic

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Produced Water Management: Finding the Economic Optimum – Aimsio

The trade off The newest, most efficient methods of oil and gas extraction require more water than conventional drilling. Fracking for oil and shale gas, along with SAGD to recover bitumen, have allowed operators to access challenging deposits while reducing their surface footprint. The gains in yield and sustainability come at the cost of another … Read moreProduced Water Management: Finding the Economic Optimum – Aimsio

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T.A. Cook
Gardner Denver
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STEP Energy Services

Apache Announces Appointment of Emily McClung as Vice President, Community Partnerships and Employee Engagement

HOUSTON, Sept. 04, 2018 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, Nasdaq: APA) today announced Emily McClung has been named vice president, Community Partnerships and Employee Engagement, effective Sept. 1, 2018. “In this unique role, Emily will continue to elevate Apache’s culture of corporate giving and our longstanding commitment to give where we live and work,” … Read moreApache Announces Appointment of Emily McClung as Vice President, Community Partnerships and Employee Engagement

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Energy Transfer, Magellan Midstream, MPLX and Delek to Jointly Construct the “Permian Gulf Coast” or “PGC Pipeline” for Permian Basin Crude Oil Takeaway

DALLAS & TULSA, Okla. & FINDLAY, Ohio & BRENTWOOD, Tenn.–(BUSINESS WIRE)–Energy Transfer Partners, L.P. (NYSE: ETP) (“Energy Transfer”), Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”), MPLX LP (NYSE: MPLX) (“MPLX”) and Delek US Holdings, Inc. (NYSE: DK) (“Delek”) announced today that they have received sufficient commitments to proceed with plans to construct a new 30-inch … Read moreEnergy Transfer, Magellan Midstream, MPLX and Delek to Jointly Construct the “Permian Gulf Coast” or “PGC Pipeline” for Permian Basin Crude Oil Takeaway

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T.A. Cook
Gardner Denver
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Southwestern Energy to Sell Fayetteville Shale Business for Cash of $1.865 Billion Plus Assumption of Contractual Obligations

SPRING, Texas–(BUSINESS WIRE)–Southwestern Energy Company (NYSE: SWN) (the “Company”) today announced that it has entered into a definitive agreement with Flywheel Energy, LLC, a private company backed by Kayne Private Energy Income Funds, to sell its Fayetteville Shale E&P and related midstream gathering assets for $1.865 billion in cash, subject to adjustments and customary closing … Read moreSouthwestern Energy to Sell Fayetteville Shale Business for Cash of $1.865 Billion Plus Assumption of Contractual Obligations

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T.A. Cook
Gardner Denver
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China will buy more LNG, but wants it smoother, less lumpy: Russell

By Clyde Russell LAUNCESTON, Australia (Reuters) – China appears set to once again boost its purchases of liquefied natural gas (LNG) for the northern winter, but unlike last year’s rush, this time the process is likely to be more organized and stable. In recent weeks there have been several indicators that China is planning on … Read moreChina will buy more LNG, but wants it smoother, less lumpy: Russell

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Gardner Denver
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Oil prices jump as Gulf of Mexico rigs evacuated

LONDON (Reuters) – Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane. U.S. light crude rose $1.60 a barrel from Friday’s close to a peak of $71.40, its highest since mid-July, before easing slightly to around $71.15 by 1140 GMT. U.S. markets were … Read moreOil prices jump as Gulf of Mexico rigs evacuated

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T.A. Cook
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Tesla’s Cobalt-Light Batteries Seen Providing Cost Advantage

Sep 4, 2018, by Anthony Palazzo (Bloomberg) Tesla Inc.’s lead in battery technology gives it a cost advantage that may last for several years and help the U.S. electric-car maker face down an onslaught of new competition, according to new research from Bloomberg New Energy Finance. Batteries made by the U.S. manufacturer and its Japanese … Read moreTesla’s Cobalt-Light Batteries Seen Providing Cost Advantage

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T.A. Cook
Gardner Denver
STEP Energy Services
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Libya Leads OPEC Oil Output to 2018 High Despite Iran Losses

Sep 3, 2018, by Salma El Wardany and Grant Smith (Bloomberg) OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 … Read moreLibya Leads OPEC Oil Output to 2018 High Despite Iran Losses

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T.A. Cook
Gardner Denver
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STEP Energy Services

Five Things to Know in World Business Today

Sep 4, 2018, by Lorcan Roche Kelly (Bloomberg) Oh, Canada President Donald Trump was vocal in his criticism of Canada over the Labor Day weekend as he threatened to push ahead with a new trade deal with Mexico, leaving the U.S.’s northern neighbor out. The problem Trump faces is that he needs congressional support for his stance, … Read moreFive Things to Know in World Business Today

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Gardner Denver
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Southwestern Energy to sell shale business for $1.87 bln

Sept 4 (Reuters) – Oil and gas producer Southwestern Energy Co said on Tuesday it would sell its Fayetteville shale business to privately owned Flywheel Energy LLC in an all-cash deal for about $1.87 billion. As part of the deal, Flywheel will assume $438 million of future contractual liabilities. The transaction is effective July 1 … Read moreSouthwestern Energy to sell shale business for $1.87 bln

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Gardner Denver
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U.S. Throttles Iran Oil Flows to Buyers Who Vowed Resistance

Sep 4, 2018, by Serene Cheong (Bloomberg) The world’s top oil buyers are discovering that U.S. sanctions on Iran will squeeze their trade flows whether they agree with America or not. It was only about three months ago that India’s foreign minister said that the country won’t adhere to unilateral restrictions and will continue buying … Read moreU.S. Throttles Iran Oil Flows to Buyers Who Vowed Resistance

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Gardner Denver
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U.S. Gulf Coast refineries prepare for tropical storm

Philadelphia Oil Refinery

HOUSTON/NEW YORK (Reuters) – Refineries in the U.S. Gulf Coast states of Louisiana and Mississippi made preparations on Monday for Tropical Storm Gordon to come ashore late Tuesday. No refinery production has been shut due to the storm, but the plants were securing loose items to prevent damage from the expected 50-60 mile per hour … Read moreU.S. Gulf Coast refineries prepare for tropical storm

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T.A. Cook
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