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New Jersey Invests in Fossil Fuels, Shunning Others’ Carbon Pullback

By Elise Young Feb 14, 2020 (Bloomberg)While climate-change activists are urging Harvard University’s endowment and New York City’s pension fund to rethink their fossil-fuel holdings, New Jersey says the best way to fight for cleaner energy is as an investor.Phil Murphy’s administration says that joining a global oil-and-gas divestment wave would eliminate its shareholder voice. … Read moreNew Jersey Invests in Fossil Fuels, Shunning Others’ Carbon Pullback

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U.S. Says It Has Thwarted $6 Billion Russia-Germany Gas Pipeline

By Patrick Donahue and Matthew Miller Feb 15, 2020 (Bloomberg) President Donald Trump’s top energy official said he’s confident that Russia won’t be able to complete the Nord Stream 2 gas pipeline in the Baltic Sea — and signaled that the U.S. will press forward with its opposition to the project. Asked about Russian efforts to … Read moreU.S. Says It Has Thwarted $6 Billion Russia-Germany Gas Pipeline

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Trump’s Nafta Rewrite Heads for Its Last Stop — Ottawa

By Chris Fournier Feb 13, 2020 (Bloomberg) When President Donald Trump signed the U.S.-Mexico-Canada-agreement at the White House in late January, he said a variation of the word “thanks” 54 times in 37 minutes to people in attendance who helped him do the deal.But there’s one more favor he needs from someone who wasn’t in the room: Canadian … Read moreTrump’s Nafta Rewrite Heads for Its Last Stop — Ottawa

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Oil Rallies for a Fourth Day as Virus Fears Show Signs of Easing

By Elizabeth Low and Alex Longley Feb 14, 2020 (Bloomberg) Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be easing.Chinese refiners have used oil’s earlier drop to snap up cheap cargoes, taking many traders by surprise. That follows the World Health Organization’s view … Read moreOil Rallies for a Fourth Day as Virus Fears Show Signs of Easing

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

February 14, 2020 Reuters U.S. energy firms added oil rigs for a second week in a row as crude prices, which have dropped about 15% this year, were set to rise this week as investor concerns began to ease over the long-term economic impact of the coronavirus. Companies added two oil rigs in the week to … Read moreU.S. drillers add oil rigs for second week in a row

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Solar and Wind Power Can’t Compete With Gas This Cheap

Natural Gas

By Naureen Malik and Brian Eckhouse Feb 14, 2020 (Bloomberg) This will almost certainly be a record-breaking year for the advance of solar and wind power across the U.S. The additions that are in progress or planned are significant enough to boost hopes for emissions-free electrical grids within a generation—if natural gas doesn’t get in the … Read moreSolar and Wind Power Can’t Compete With Gas This Cheap

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All Eyes on Exxon, Chevron After BP Pledges to Be Carbon Neutral

By Kevin Crowley Feb 12, 2020, (Bloomberg)BP Plc’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.The U.S. supermajors have only committed to reducing greenhouse gases from their … Read moreAll Eyes on Exxon, Chevron After BP Pledges to Be Carbon Neutral

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 14, 2020 (Bloomberg) Latest on coronavirus, Fed reduces size of repo operations and euro-area economy remains in the doldrums. Here are some of the things people in markets are talking about today. Still rising The number of infections from the virus in China rose to 63,851 with the death toll standing at 1,380 after … Read moreFive Things to Know in World Business Today

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Pipeline Protests Cripple Canadian Railways, Raising CEOs’ Ire

By Divya Balji, Michael Bellusci and Robert Tuttle (Bloomberg) Protests against a natural gas pipeline are crippling Canada’s railways — key economic arteries in the sprawling, trade-dependent nation — and prompting cries of “insanity” and “ecoterrorism” from business leaders. Canadian National Railway Co., the country’s largest rail provider, has canceled 400 trains in the past week … Read morePipeline Protests Cripple Canadian Railways, Raising CEOs’ Ire

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Greenfields Petroleum Corporation Announces Extension of Forbearance Agreement and Agreement to Defer Payment of its Senior Secured Debt

February 13, 2020 | Source: Greenfields Petroleum Corporation HOUSTON, Feb. 13, 2020 (GLOBE NEWSWIRE) — Greenfields Petroleum Corporation (the “Company” or “Greenfields”) (TSX VENTURE: GNF), a production focused company with operating assets in Azerbaijan, announces that Vitol Energy (Bermuda) Ltd. (“Vitol”), the Company’s senior debt lender, has agreed to further amend the forbearance agreement executed on … Read moreGreenfields Petroleum Corporation Announces Extension of Forbearance Agreement and Agreement to Defer Payment of its Senior Secured Debt

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America’s Oil Boom Feels More Like Bust in the Shale Patch

By Kevin Crowley and Rachel Adams-Heard Feb 13, 2020 (Bloomberg) —Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of his bleak utterings: “End of the road, nothing to do and no hope of things … Read moreAmerica’s Oil Boom Feels More Like Bust in the Shale Patch

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Massive Exxon Refinery Fire Poses a New Threat to Oil Demand

By Barbara Powell, Jeffrey Bair and Rachel Graham Feb 12, 2020 (Bloomberg) A fire broke out early Wednesday at Exxon Mobil Corp.’s Baton Rouge oil refinery in Louisiana, halting production at the fifth-biggest fuel-making plant in the U.S. The outage at the massive complex — which supplies fuels across the southeast U.S. and all the way to New … Read moreMassive Exxon Refinery Fire Poses a New Threat to Oil Demand

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IEA Sees First Global Oil Demand Drop in a Decade on Coronavirus

By Grant Smith Feb 13, 2020 (Bloomberg) Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. Crude already sank to … Read moreIEA Sees First Global Oil Demand Drop in a Decade on Coronavirus

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Russia’s Putin Keeps OPEC+ Waiting for Decision on Output Cuts

By Stepan Kravchenko and Dina Khrennikova Feb 13, 2020 (Bloomberg) President Vladimir Putin, who plays a decisive role in OPEC+ oil policy, hasn’t yet decided whether Russia will support the group’s proposal for deeper production cuts. The leader will make up his mind in a “timely” manner, his spokesman Dmitry Peskov told reporters in Moscow on … Read moreRussia’s Putin Keeps OPEC+ Waiting for Decision on Output Cuts

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 13, 2020 (Bloomberg) Virus cases jump, economic fallout worsens, and Trump’s Fed nominees in Senate hearing. Here are some of the things people in markets are talking about today. Data revision A reclassification of how cases of the coronavirus are counted led to a jump of almost 15,000 in China. The total number there … Read moreFive Things to Know in World Business Today

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Oil Holds Near $51 as Fear Over Virus Threat to Demand Returns

By Grant Smith Feb 13, 2020 (Bloomberg) Oil held near $51 a barrel as a more severe assessment of China’s coronavirus renewed fears over the threat to fuel demand.World oil consumption will fall this quarter for the first time in over a decade — wiping out the growth previously expected — as the epidemic reduces economic activity and … Read moreOil Holds Near $51 as Fear Over Virus Threat to Demand Returns

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Gulf Coast could see over $300 billion in new investments

Near-term outlook for U.S., Gulf Coast energy production continues to be solid BY ANDREW WHITE, SENIOR EDITOR AND ACCOUNTS SPECIALIST Operable capacity in Petroleum Administration for Defense District (PADD) 3 has grown considerably over the past 30 years. When it comes to the petrochemical industry and refining, the outlook for energy manufacturing (as well as LNG … Read moreGulf Coast could see over $300 billion in new investments

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The World Is Conspiring to Make Gas Cheaper: David Fickling

Natural Gas

By David Fickling Feb 12, 2020 (Bloomberg Opinion) How cheap would you like your natural gas today? Is zero low enough? OK, how about we pay you to take it off our hands?That’s what’s happening in the middle of the U.S. shale patch at the moment — and it’s a symptom of a glut that could reshape energy markets … Read moreThe World Is Conspiring to Make Gas Cheaper: David Fickling

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Train-Blocking Pipeline Protesters Stir Alarm as Threat to Canada Economy

By Divya Balji, Kevin Orland and Robert Tuttle Feb 12, 2020 (Bloomberg) Escalating protests against a Canadian natural gas pipeline are putting rail shipments of grain, propane, lumber and consumer goods in jeopardy and prompting consternation among executives and lawmakers.Demonstrators are blocking rail lines and other key infrastructure to support parts of the Wet’suwet’en Nation, an … Read moreTrain-Blocking Pipeline Protesters Stir Alarm as Threat to Canada Economy

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Massive Exxon Refinery Fire Poses a New Threat to Oil Demand

By Barbara Powell, Jeffrey Bair and Rachel Graham  Feb 12, 2020 A fire broke out early Wednesday at Exxon Mobil Corp.’s Baton Rouge oil refinery in Louisiana, halting production at the fifth-biggest fuel-making plant in the U.S. The outage at the massive complex — which supplies fuels across the southeast U.S. and all the way to New … Read moreMassive Exxon Refinery Fire Poses a New Threat to Oil Demand

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 12, 2020 (Bloomberg) Xi says China will meet its economic goals, Sanders tightens hold on Democratic nomination, and Europe’s manufacturing slump worsens. Here are some of the things people in markets are talking about today. Expressing optimism President Xi Jinping said that China has the ability to accomplish its economic … Read moreFive Things to Know in World Business Today

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Permian’s Gas-Flaring Is Much Worse Than Previously Thought

By Kevin Crowley  Feb 12, 2020 (Bloomberg) The burning and releasing of vast amounts of natural gas into the atmosphere in America’s top shale basin is much bigger than previously thought when processing plants are included, Rystad Energy found.Research on the controversial practices of flaring and venting — described by shale pioneer Scott Sheffield as a “black eye” … Read morePermian’s Gas-Flaring Is Much Worse Than Previously Thought

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Oil Extends Rally Above $50 Amid Signs Virus Spread Is Easing

By Grant Smith Feb 12, 2020 (Bloomberg) Oil extended its rebound above $50 a barrel as tentative signs that Asia’s coronavirus may be easing spurred speculation that the worst of crude’s sell-off could have passed. U.S. futures rallied 2.2% in a second daily gain, having lost about 16% during the preceding month amid fears the disease … Read moreOil Extends Rally Above $50 Amid Signs Virus Spread Is Easing

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Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Reports Fourth Quarter and Full Year 2019 Financial and Operating Results

February 11, 2020 16:01 ET | Source: Viper Energy Partners LP MIDLAND, Texas, Feb. 11, 2020 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the fourth quarter and full year ended December 31, 2019. FOURTH QUARTER HIGHLIGHTS Q4 2019 … Read moreViper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Reports Fourth Quarter and Full Year 2019 Financial and Operating Results

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U.S. Department of Energy Approves Texas LNG to Export LNG to non-FTA Countries

Texas LNG is authorized to export low-cost, low-carbon energy to key global markets February 11, 2020 | Source: Texas LNG photo-release Artistic impression of Texas LNG’s planned liquefaction facilities. Note that this image is an artist impression and is subject to updates and significant changes. This image should not be relied upon for any purpose. Houston, Texas, … Read moreU.S. Department of Energy Approves Texas LNG to Export LNG to non-FTA Countries

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DCP Midstream Reports Fourth Quarter Results and Announces 2020 Guidance

February 11, 2020 | Source: DCP Midstream LP DENVER, Feb. 11, 2020 (GLOBE NEWSWIRE) — Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the quarter and year ended December 31, 2019 and announced its 2020 guidance. HIGHLIGHTS Net income attributable to partners of $1 million and $17 million for the quarter and year ended … Read moreDCP Midstream Reports Fourth Quarter Results and Announces 2020 Guidance

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Video Analytics and Intelligent Visual Monitoring a Cost-Effective and Powerful Tool for Remote Oil and Gas Assets

Osprey Logo - December 2018 Update Feature

A rapidly emerging technology that is adding value to IIoT deployments is intelligent visual monitoring, where video streams are captured from internet-connected cameras and automatically analyzed by video analytics to look for anomalies, such as leaks or suspicious activity. According to Mckinsey (1), “Some of the most innovative Internet of Things (IoT) applications involve video … Read moreVideo Analytics and Intelligent Visual Monitoring a Cost-Effective and Powerful Tool for Remote Oil and Gas Assets

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Record Profits Can’t Mask These Oil Trading Giants’ Woes

Oil Pump

By Andy Hoffman Feb 11, 2020 (Bloomberg) Commodities traders Gunvor Group Ltd. and Trafigura Group Ltd. had blockbuster 2019s with both firms boasting their best ever profits from trading oil, gas and other raw materials. Yet while the knock-out performances have provided some breathing room, problems which have long loomed over the trading houses haven’t gone … Read moreRecord Profits Can’t Mask These Oil Trading Giants’ Woes

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With Big Oil’s Future in Doubt, New BP Boss Sets Out His Vision

By Laura Hurst Feb 11, 2020 (Bloomberg) As BP Plc’s new chief delivers his vision to transform the company on Wednesday, investors and activists want to know just how much appetite he has to take on the existential crisis facing the oil industry. Bernard Looney’s big challenge will be to navigate BP through an energy transition … Read moreWith Big Oil’s Future in Doubt, New BP Boss Sets Out His Vision

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 11, 2020 (Bloomberg) China seeks to restart industrial production, Powell speaks in Congress, and primary day arrives in New Hampshire. Here are some of the things people in markets are talking about today. Getting back to work Chinese authorities are calling on the biggest companies to meet production targets as executives begin to restart factories that … Read moreFive Things to Know in World Business Today

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Exxon Cracking Down on Employee Travel After Profits Collapse

By Joe Carroll and Lucia Kassai Feb 11, 2020 (Bloomberg) Exxon Mobil Corp. has been scrutinizing employee-travel budgets since the largest North American oil explorer posted its worst quarterly profit in almost four years, said people with knowledge of the matter.Auditing teams have fanned out to some divisions to analyze travel requests involving industry conferences, according to the … Read moreExxon Cracking Down on Employee Travel After Profits Collapse

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Europe’s Largest Floating Solar Farm Underway in Netherlands

By William Mathis Feb 11, 2020 (Bloomberg)German renewable energy developer Baywa r.e. has begun constructing what will be the largest floating solar farm outside of China. The 27-megawatt Bomhofsplas solar farm is set to include 73,000 solar panels on a sandpit lake in Zwolle in the Netherlands, the company said in a statement. For places … Read moreEurope’s Largest Floating Solar Farm Underway in Netherlands

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Oil Rebounds, Yet Contango Warns of Glut as Virus Hits Demand

By Grant Smith and Serene Cheong Feb 11, 2020 (Bloomberg) Oil recovered from a one-year low as equity markets climbed, yet widespread discounts on prompt crude supplies signaled that Asia’s coronavirus is sharply eroding demand.Brent crude added 2.1% to trade above $54 a barrel in London. But the futures curve briefly entered a full “contango” structure, … Read moreOil Rebounds, Yet Contango Warns of Glut as Virus Hits Demand

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Trump Proposes Selling 15 Million Barrels From U.S. Oil Reserve

Donald Trump

By Stephen Cunningham Feb 10, 2020 (Bloomberg) President Donald Trump has proposed selling 15 million barrels of oil from the U.S. emergency stockpile as part of his fiscal 2021 budget plan.The proposal, which requires approval from Congress, would use the proceeds of the sale to fund certain Energy Department activities, including the environmental remediation of an oil … Read moreTrump Proposes Selling 15 Million Barrels From U.S. Oil Reserve

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Coronavirus Threatens Oil Producers With Double Whammy

By Ellen R. Wald Feb 11, 2020 (Bloomberg Opinion) The coronavirus outbreak is already threatening oil markets. The fear of lower demand — from a disease-stricken China and eventually globally as the economic impact widens — has destabilized prices, sending crude to its lowest levels in more than a year. For major oil-producing countries, the declines, coming at … Read moreCoronavirus Threatens Oil Producers With Double Whammy

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Green Plains Reports Fourth Quarter and Full Year 2019 Financial Results

February 10, 2020 | Source: Green Plains Inc. Results for the Fourth Quarter of 2019 Net loss attributable to the company of $39.7 million, or $(1.13) per diluted share including non-cash tax valuation allowance Adjusted net loss attributable to the company of $14.4 million, or $(0.41) per diluted share, excluding a non-cash tax valuation adjustment of $25 … Read moreGreen Plains Reports Fourth Quarter and Full Year 2019 Financial Results

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Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

February 10, 2020 | Source: Viking Energy Group, Inc. HOUSTON, TX, Feb. 10, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Viking Energy Group, Inc. (“Viking”) (OTCQB: VKIN) is pleased to announce that it has more than doubled its daily oil and gas production (on a barrel of oil equivalent basis), and increased its overall proven oil and gas … Read moreViking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

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Sanders, Warren – Both Want a Ban on Hydraulic Fracking and a Wealth Tax – Karl W. Smith

By Karl W. Smith Feb 10, 2020 (Bloomberg Opinion) A wealth tax and a ban on hydraulic fracking, both of which have the support of Bernie Sanders and Elizabeth Warren, would address seemingly separate issues. Yet they stem from a common impulse, one that also undergirds the current trade war: to use the tax code to punish those seen … Read moreSanders, Warren – Both Want a Ban on Hydraulic Fracking and a Wealth Tax – Karl W. Smith

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Five Things  to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 10, 2020 (Bloomberg) Coronavirus outbreak shows little sign of easing, a German political earthquake, and OPEC+ ministers meeting may not happen at all. Here are some of the things people in markets are talking about today. More than SARS The death toll from the coronavirus outbreak reached 910, surpassing the number that died … Read moreFive Things  to Know in World Business Today

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Oil Holds Near $50 as OPEC+ Hesitates Despite Signs of Surplus

By Grant Smith and Elizabeth Low Feb 10, 2020 (Bloomberg) Oil held near $50 a barrel in New York on signs that OPEC and its allies probably won’t go ahead with a much-touted emergency meeting, even as a global oversupply piles up. While the coalition’s technical experts have recommended a production cutback as Asia’s coronavirus batters … Read moreOil Holds Near $50 as OPEC+ Hesitates Despite Signs of Surplus

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Bedrock Automation White Paper Describes the New Era of Flow Computing and Custody Transfer

Bedrock Automation Feature Logo 400x270

This new white paper from Bedrock Automation, the leader in ICS cyber security, provides an overview of the oil and gas industry dynamics that are challenging the very nature of flow computing. Learn how a new generation of digital technology is evolving to take flow measurement to higher levels of simplicity, profitability and security.   Download White Paper

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New! OpenInvoice Essentials: An Accounts Payable Solution For Small Businesses

BY CHRIS DINKLER OpenInvoice, an accounts payable solution by Enverus Business Automation, has helped some of the largest oil & gas operators eliminate paper and automate processes, transforming how these companies manage their financial operations. Many large companies achieved nearly total digital transformation, from paper to electronic invoices, with OpenInvoice. While this software has contributed to … Read moreNew! OpenInvoice Essentials: An Accounts Payable Solution For Small Businesses

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U.S. drillers add oil rigs for third week in four: Baker Hughes

Drilling Rig pipes

(Reuters) – U.S. energy firms added oil rigs for the third time in four weeks even though producers planned to continue reducing spending on new drilling for a second consecutive year in 2020. Pump jacks operate at sunset in Midland, Texas U.S. February 11, 2019. Picture taken February 11, 2019. REUTERS/Nick Oxford Companies added 1 … Read moreU.S. drillers add oil rigs for third week in four: Baker Hughes

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Baker Hughes Announces January 2020 Rig Counts

Baker Hughes

February 10, 2020 Business Wire HOUSTON & LONDON – Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for January 2020 was 1,078, down 26 from the 1,104 counted in December 2019, and up 54 from the 1,024 counted in January 2019. The international offshore rig count for January 2020 was 245, … Read moreBaker Hughes Announces January 2020 Rig Counts

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Energy Markets Need Winter, and Climate Change Is Taking It Away

By Olga Tanas, Naureen S. Malik and Stephen Stapczynski Feb 9, 2020 (Bloomberg) Even before the deadly virus struck, another menace confronted the global energy industry: the warmest winter anyone can remember.Russia’s winter was so balmy that snow was trucked into downtown Moscow for New Year, and bears came out of hibernation. In Japan, ski competitions … Read moreEnergy Markets Need Winter, and Climate Change Is Taking It Away

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Texas Regulator Readies First Flaring Report Amid Backlash

By Rachel Adams-Heard and Kevin Crowley Feb 7, 2020 (Bloomberg) A Republican defending his seat on Texas’s all-powerful energy regulator is preparing a first-of-its-kind report on natural gas flaring, a practice that’s come under fire from environmental groups and even some producers. The report will showcase flaring trends, its proportion to surging oil production and potentially … Read moreTexas Regulator Readies First Flaring Report Amid Backlash

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BlackRock Stake in U.S. Coal Giant Shrinks Amid Climate Vow

By Will Wade  Feb 7, 2020 (Bloomberg) Even before publicly vowing to unwind its investments in coal, BlackRock Inc. began cutting its stake in the biggest U.S. miner. The world’s largest asset manager had about 4.87 million shares of Peabody Energy Corp. as of Dec. 31, a 5% stake, according to a regulatory filing Friday. That’s … Read moreBlackRock Stake in U.S. Coal Giant Shrinks Amid Climate Vow

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A $1.4 Trillion Asset Manager Is Zeroing In on Methane Leaks

By  Emily Chasan Investor introduces metrics to standardize emissions tracking Energy companies pledged to curb but couldn’t prove they were Methane leaks are making the climate crisis worse faster, but companies and investors still find them hard to trace. Legal & General Investment Management, the $1.4 trillion British asset manager, on Thursday said it will push energy … Read moreA $1.4 Trillion Asset Manager Is Zeroing In on Methane Leaks

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 7, 2020 (Bloomberg) It’s jobs day, Thiam out at Credit Suisse and no sign the coronavirus crisis is easing. Here are some of the things people in markets are talking about today. Payrolls The January jobs report is expect to show hiring remains robust, with economists forecasting 165,000 new positions in the month. The unemployment … Read moreFive Things to Know in World Business Today

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A Five-Decade Rivalry Is Playing Out at OPEC+: David Fickling

By David Fickling (Bloomberg Opinion) Revenge, they say, is a dish best served cold.That seems to be the view of the Russian government, as it contemplates how to respond to pleas that it join Saudi Arabia and other OPEC members in cutting oil production. Many expect the coronavirus outbreak to trigger a demand slump. Talks between Russia … Read moreA Five-Decade Rivalry Is Playing Out at OPEC+: David Fickling

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Shell to Build First Big Solar Plant in Move to Power Production

By James Thornhill Feb 6, 2020 (Bloomberg) Royal Dutch Shell Plc will build its first large-scale solar farm as part of its plan to expand into power generation. Shell, which has set itself a goal to become the world’s top electricity producer by 2030, expects to complete the plant in Queensland, Australia, early next year. The … Read moreShell to Build First Big Solar Plant in Move to Power Production

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Oil Heads for Fifth Weekly Loss as Demand Concerns Dominate

By Alex Longley  Feb 7, 2020 (Bloomberg)Oil headed for a fifth weekly loss as demand concerns grow in Asia and Europe, while OPEC+ awaited Russia’s response to its proposal to cut output further.Chinese refiners are processing 15% less crude than before the coronavirus outbreak, said people with knowledge of operations at the nation’s largest complexes. … Read moreOil Heads for Fifth Weekly Loss as Demand Concerns Dominate

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Energy Capital Pauses Pipeline Deals on Widening Shale Despair

By Rachel Adams-Heard and Kiel Porter  Feb 7, 2020 (Bloomberg)Energy Capital Partners LLC is pausing new pipeline deals, according to people familiar with the matter, as the accelerating downturn in shale prompts investors to seek returns elsewhere. The private-equity powerhouse’s head of midstream investments, Scott Rogan, is departing, said the people, who asked not to … Read moreEnergy Capital Pauses Pipeline Deals on Widening Shale Despair

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Gulfport Energy Corporation Appoints Valerie Jochen to its Board of Directors

Appointment is Part of Continued Board Refreshment Process February 07, 2020| Source: Gulfport Energy Corporation OKLAHOMA CITY, Feb. 07, 2020 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport” or the “Company”) announced today Ms. Valerie Jochen has been appointed to Gulfport’s Board of Directors, effective February 6, 2020. David M. Wood, President and Chief Executive … Read moreGulfport Energy Corporation Appoints Valerie Jochen to its Board of Directors

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Best Practices in Advanced Data Science: Lessons for the Oil and Gas Industry – L.E.K.

LEK Consulting Logo Feature 400x270

Many oil and gas executives are concerned that their industry is behind in the race to apply advanced data science — including machine learning and artificial intelligence (AI) — to its most critical problems. This is understandable considering the complexity of the sector’s challenges. First, the cost of failure for oil and gas is significant, … Read moreBest Practices in Advanced Data Science: Lessons for the Oil and Gas Industry – L.E.K.

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Putin Aide Tells Companies to Prepare for Harsh EU Carbon Tax

By Natasha Doff Feb 6, 2020 (Bloomberg)Russian President Vladimir Putin’s top adviser on climate change warned big businesses that they need to start preparing for harsher carbon regulations from the European Union. An EU proposal to introduce border levies on products arriving from countries with looser environmental rules could come into force within the next two years, … Read morePutin Aide Tells Companies to Prepare for Harsh EU Carbon Tax

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Trump Withholding $823 Million for Clean Energy, Democrats Say

By Ari Natter (Bloomberg) The Trump administration is withholding nearly a billion dollars for a clean energy program it has unsuccessfully tried to cut, congressional Democrats said Wednesday, raising the specter of political interference.The unspent funds now amount to $823 million in the Energy Department’s office that provides grants and other financial assistance for alternative energy, … Read moreTrump Withholding $823 Million for Clean Energy, Democrats Say

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Feb 6, 2020 (Bloomberg) China tariff cut boosts market rally, coronavirus toll continues to rise, and OPEC+ talks move into third day. Here are some of the things people in markets are talking about today. Love letter China is showing that tariffs can go down, as well as up, with Beijing’s announcement that … Read moreFive Things to Know in World Business Today

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Oil Pares Gain as Russia Asks for Time to Decide on Output Cuts

By Sharon Cho and Alex Longley Feb 6, 2020 (Bloomberg) Oil pared gains as an OPEC+ committee agreed on a required level of output cuts, but didn’t reach a decision on an emergency meeting as Russia resisted.The panel recommended a production cut of 600,000 barrels a day to offset the demand impact from the coronavirus … Read moreOil Pares Gain as Russia Asks for Time to Decide on Output Cuts

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Wind Turbine Blades Can’t Be Recycled, So They’re Piling Up in Landfills

By Chris Martin (Bloomberg)  A wind turbine’s blades can be longer than a Boeing 747 wing, so at the end of their lifespan they can’t just be hauled away. First, you need to saw through the lissome fiberglass using a diamond-encrusted industrial saw to create three pieces small enough to be strapped to a tractor-trailer. … Read moreWind Turbine Blades Can’t Be Recycled, So They’re Piling Up in Landfills

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Elixir Energy well positioned to meet China’s booming natural gas demand

China is set to see a massive lift in demand for natural gas with current usage rates set to more than triple over the next 15 years. This comes as the Chinese government pushes for a switch to cleaner energy sources from coal, implementing policies to reduce sulfur dioxide and nitrogen oxides emissions and bring … Read moreElixir Energy well positioned to meet China’s booming natural gas demand

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Virus Has U.S. Gas Exporters Facing Risk of Production Cuts

By Anna Shiryaevskaya, Stephen Stapczynski and Naureen S. Malik Feb 5, 2020 (Bloomberg) A grim situation for U.S. natural gas exporters has gotten even worse as the coronavirus outbreak sends global prices plunging on concern that China’s demand for the fuel will collapse.Suppliers of American liquefied natural gas were already under pressure from depressed prices arising … Read moreVirus Has U.S. Gas Exporters Facing Risk of Production Cuts

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ConocoPhillips Reports Fourth-Quarter and Full-Year 2019 Results; Announces Preliminary 2019 Year-End Reserves, Quarterly Dividend and Increase in Existing Share Repurchase Authorization to $25 Billion

February 4, 2020 Business Wire HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today reported fourth-quarter 2019 earnings of $0.7 billion, or $0.65 per share, compared with fourth-quarter 2018 earnings of $1.9 billion, or $1.61 per share. Excluding special items, fourth-quarter 2019 adjusted earnings were $0.8 billion, or $0.76 per share, compared with fourth-quarter 2018 adjusted earnings of $1.3 billion, … Read moreConocoPhillips Reports Fourth-Quarter and Full-Year 2019 Results; Announces Preliminary 2019 Year-End Reserves, Quarterly Dividend and Increase in Existing Share Repurchase Authorization to $25 Billion

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly  Feb 5, 2020 (Bloomberg) Virus fallout continues, partisan divide overshadows Trump address, and OPEC+ talks continue. Here are some of the things people in markets are talking about today. Almost 25,000 The number of confirmed cases and fatalities from the coronavirus outbreak continues to rise, with governments announcing further measures to combat the spread. Hong … Read moreFive Things to Know in World Business Today

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China’s Virus Clampdown Is Cutting Emissions, But Not for Long

China smog

By Bloomberg News Feb 4, 2020 (Bloomberg) If there’s a silver lining to the deadly coronavirus outbreak in China, it’s that the world’s biggest polluter is spewing less carbon, at least for now. Quarantines and extended holidays have idled cars and airplanes and shuttered coal mines and steel mills, some of the biggest contributors to the … Read moreChina’s Virus Clampdown Is Cutting Emissions, But Not for Long

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Oil Climbs From One-Year Low With OPEC+ Split on Output Curbs

By Alex Longley and Sharon Cho Feb 5, 2020 (Bloomberg) Oil rebounded back beyond $50 a barrel as OPEC+ entered a second day of discussions on the impact of the coronavirus outbreak.Futures rose 3% in New York, reversing some of the dramatic collapse across the futures curve this week that saw the market fall into a … Read moreOil Climbs From One-Year Low With OPEC+ Split on Output Curbs

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IMF Chief Pushes Carbon Tax in the Fight Against Climate Change

By Jeff Kearns Feb 5, 2020 (Bloomberg) International Monetary Fund Managing Director Kristalina Georgieva urged countries to act on global warming, saying the “best way forward is to put a price on carbon.” The IMF is pushing harder to address climate risk to the global economy by assisting with research efforts and offering policy advice. Georgieva’s … Read moreIMF Chief Pushes Carbon Tax in the Fight Against Climate Change

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CANADA UPDATE: Trudeau Pipeline Wins in Court, Boosting Canadian Oil Sector

Pipeline

By Kevin Orland and Theophilos Argitis (Bloomberg) The Canadian government’s plan to expand a major oil pipeline cleared a key legal hurdle, providing optimism the project will proceed and sending a lifeline to the country’s ailing energy industry.The Federal Court of Appeals ruled Tuesday in Ottawa that Prime Minister Justin Trudeau’s government adequately consulted with indigenous … Read moreCANADA UPDATE: Trudeau Pipeline Wins in Court, Boosting Canadian Oil Sector

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Bedrock Automation Integrates Flow-Cal Flow Measurement into Open Secure Automation (OSA®) Platform

Bedrock Automation Feature Logo 400x270

The combination of Bedrock OSA and Flow-Cal algorithms brings oil and gas measurement and custody transfer securely into the digital age San Jose, Cal. – February 3, 2020 – Bedrock Automation, the maker of Bedrock OSA®, the world’s most powerful and secure automation platform, has introduced full integration of flow computer functionality into the OSA … Read moreBedrock Automation Integrates Flow-Cal Flow Measurement into Open Secure Automation (OSA®) Platform

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WATCH: Propell Frac Blender Unit – The Most Serviceable, and Reliable Blender in the Industry

Propell-Feature-Logo-400x270-1

Propell’s new Blender bridges the gap in technology from other equipment on the frac site over the last 10 years. It’s been designed from the ground up to accommodate the increase in proppant rate and duty cycles while being reliable and serviceable. An industry first hollow-core chassis, keeps all major service components mounted outboard. And … Read moreWATCH: Propell Frac Blender Unit – The Most Serviceable, and Reliable Blender in the Industry

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U.S. natgas futures edge up from near 4-year low on cooler forecast

Natural Gas

February 4, 2020 Reuters U.S. natural gas futures on Tuesday edged up from a near four-year low on forecasts for slightly cooler weather in mid-February than earlier expected. Front-month gas futures for March delivery on the New York Mercantile Exchange rose 1.6 cents, or 0.9%, to $1.835 per million British thermal units (mmBtu) at 7:52 a.m. … Read moreU.S. natgas futures edge up from near 4-year low on cooler forecast

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Pipeline Progress: Canada’s Oil Pipeline Projects Inch Forward

February 4, 2020 Reuters Three proposals to expand pipeline capacity to move Western Canada’s crude oil have been stalled for years by environmental and indigenous opposition in both Canada and the United States. Lately, the proposals have cleared several obstacles, but others remain. Canadian oil companies such as Canadian Natural Resources Ltd , Suncor Inc and … Read morePipeline Progress: Canada’s Oil Pipeline Projects Inch Forward

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Five Things to Know in World Business Today

World Business

By Sybilla Gross (Bloomberg) The coronavirus outbreak leaves China preparing for the worst — slower economic growth, U.S. farmers may have to wait a while before the U.S.-China trade pact reaps dividends, and Tesla was up the most since 2013. Here are some of the things people in markets are talking about today. Ready to Readjust The … Read moreFive Things to Know in World Business Today

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Oil Will Still Be Sickly After the Virus: Clara Ferreira Marques

By Clara Ferreira Marques Feb 4, 2020 (Bloomberg Opinion) Crude oil has had a grim start to the year, with prices hovering around $50 per barrel as China’s coronavirus epidemic  shuts down swathes of the world’s second-largest economy. A rebound akin to the one that followed the end of the SARS outbreak is unlikely this time. Back in 2003, … Read moreOil Will Still Be Sickly After the Virus: Clara Ferreira Marques

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Saudi King and Putin Discuss Oil Market After Virus Slams Prices

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

By Ilya Arkhipov and Dina Khrennikova Feb 3, 2020 (Bloomberg)Saudi and Russian leaders held a rare phone call as oil markets tumbled, the latest signal that the OPEC+ alliance is trying to build a consensus for an output cut to prop up prices. Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz discussed the … Read moreSaudi King and Putin Discuss Oil Market After Virus Slams Prices

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Oil Rises as OPEC+ Officials Meet to Check Virus Hit to Demand

FILE PHOTO: An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China July 4, 2018. Picture taken July 4, 2018. REUTERS/Stringer

By Grant Smith and Alex Longley  Feb 4, 2020 (Bloomberg) Oil climbed to near $51 a barrel in New York as officials from OPEC+ gathered on Tuesday for an urgent meeting to assess the impact of the coronavirus on global demand, and how the group should respond. Under increasing pressure after crude prices sunk below $50 … Read moreOil Rises as OPEC+ Officials Meet to Check Virus Hit to Demand

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OPEC+ Consults China for Urgent Analysis of Virus Threat to Oil

By Grant Smith, Salma El Wardany and Javier Blas Feb 4, 2020 (Bloomberg) OPEC+ consulted with a Chinese ambassador as it conducted an urgent assessment of how the coronavirus may hurt oil demand, and what measures the group could take in response.The unusual appearance at the cartel’s headquarters of Wang Qun, China’s ambassador to international organizations … Read moreOPEC+ Consults China for Urgent Analysis of Virus Threat to Oil

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BP Bucks Oil Industry Gloom

By Laura Hurst Feb 4, 2020 (Bloomberg) BP Plc surprised investors with a slight increase in its dividend, bucking the trend in what has otherwise been a bleak earnings season for Big Oil. In the final set of results for retiring Chief Executive Officer Bob Dudley, the London-based company offered some respite for investors who received … Read moreBP Bucks Oil Industry Gloom

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Gloom Mounts for Big Oil as Exxon, Chevron Disappoint Investors

By Joe Carroll and Kevin Crowley  Jan 31, 2020 (Bloomberg)Exxon Mobil Corp. and Chevron Corp. are discovering that the vaunted Permian Basin is a double-edged sword: surging shale supplies there are driving down global energy prices.North America’s largest oil explorers posted their weakest results in years on Friday, bedeviled by poor performances in almost all … Read moreGloom Mounts for Big Oil as Exxon, Chevron Disappoint Investors

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Minnesota regulators give key approvals for Line 3 pipeline

February 3, 2020 ST. PAUL, Minn. — Minnesota utility regulators on Monday approved a court-ordered revised environmental review for Enbridge Energy’s plan to replace its aging Line 3 crude oil pipeline across the state. The state Public Utilities Commission voted 3-1 to approve the environmental impact statement for the $2.6 billion project, saying the new … Read moreMinnesota regulators give key approvals for Line 3 pipeline

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Southcross Energy Partners To Drive Growth as a Focused Gathering and Processing Company

Company Successfully Completes Reorganization and Emerges from Chapter 11 February 03, 2020| Source: Southcross Energy Partners, L.P. HOUSTON, Texas, Feb. 03, 2020 (GLOBE NEWSWIRE) — Southcross Energy Partners LLC (“Southcross” or “the Company”) today announced its plans to serve customers and drive growth as a gathering and processing company with high-quality, strategically located facilities in the Eagle Ford Shale … Read moreSouthcross Energy Partners To Drive Growth as a Focused Gathering and Processing Company

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Global Petroleum Show Unveils New Name – Global Energy Show – to Reflect the Evolving Energy Landscape

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Global Petroleum Show—North America’s leading energy event—today announced its complete rebrand to Global Energy Show. The name Global Energy Show reflects the industry’s continued evolution, as the Show builds upon significant technological and sustainable achievements driven by oil and gas and moves to encompass alternative sources. The rebrand comes in advance of the 54th annual … Read moreGlobal Petroleum Show Unveils New Name – Global Energy Show – to Reflect the Evolving Energy Landscape

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PG&E Shares Rise on Plan for Board Overhaul in Bankruptcy Exit

By Mark Chediak Feb 3, 2020 (Bloomberg) PG&E Corp. shares jumped after the company outlined plans to overhaul its board of directors, bring in safety experts and create regional operating units in a broad reorganization proposal aimed at winning state approval for its bankruptcy exit. PG&E detailed the organizational changes in filings late Friday with the … Read morePG&E Shares Rise on Plan for Board Overhaul in Bankruptcy Exit

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Five Things to Know in World Business Today

World Business

(Bloomberg) — Virus spreads, global markets endure, and all eyes on Iowa. Here are some of the things people in markets are talking about today. Death toll rising China is continuing efforts to get to grips with the expanding coronavirus outbreak, with the death toll climbing as residents returned from the Lunar New Year holidays. The tally … Read moreFive Things to Know in World Business Today

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OPEC Only Faces One Choice in China Virus Crisis: Julian Lee

By Julian Lee Feb 2, 2020 (Bloomberg Opinion) Oil producers are starting to feel the impact of  the new coronavirus as it continues to spread, and they need to take drastic action to head off a potentially devastating impact on prices. The world’s biggest producers face two key questions, how long will it last and how severe will the … Read moreOPEC Only Faces One Choice in China Virus Crisis: Julian Lee

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Regulators revisit environmental review for Line 3 pipeline

January 31, 2020  ST. PAUL, Minn. – Minnesota regulators opened a hearing Friday on an updated environmental review for Enbridge Energy’s plan to replace its aging Line 3 crude oil pipeline across the state, but most testimony focused on broader questions of whether the project should even be built. Environmental and tribal activists urged the … Read moreRegulators revisit environmental review for Line 3 pipeline

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

January 31, 2020 Reuters U.S. energy firms reduced the number of oil rigs operating for the first time in three weeks as producers follow through on plans to slash spending on new drilling for a second consecutive year in 2020. Drillers cut one oil rig in the week to Jan. 31, bringing the total count down … Read moreU.S. drillers cut oil rigs for first week in three

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Oil and gas companies investing in AI driven remote visual monitoring with exception-based alerting

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A major shift is taking place in the oil and gas industry. Whereas it was hard to avoid the impression that Oil and Gas companies only adopted new technologies as a last resort in the past—or only for very specific reasons, like using cameras for security. Today, companies both big and small are realizing the … Read moreOil and gas companies investing in AI driven remote visual monitoring with exception-based alerting

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A Way to Halt Natural Gas Flaring Arrives on the Back of a Truck

By Anna Shiryaevskaya and Naureen Malik Jan 30, 2020 (Bloomberg) Perched on the back of a semi-trailer is the latest weapon in tackling the problem of wasted natural gas that oil producers often vent into the air or even burn off at the wellhead.Cryobox takes fuel directly from wells and turns it into liquefied natural gas, … Read moreA Way to Halt Natural Gas Flaring Arrives on the Back of a Truck

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China Oil Demand Has Plunged 20% Because of the Virus Lockdown

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

By Alfred Cang, Javier Blas and Sharon Cho  Feb 2, 2020 (Bloomberg)Chinese oil demand has dropped by about three million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry.The drop is probably the largest demand shock the oil market has suffered … Read moreChina Oil Demand Has Plunged 20% Because of the Virus Lockdown

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Oil Off to Slowest Start Since 1991 With Virus Fear Spreading

By Jackie Davalos Jan 31, 2020 (Bloomberg) Oil is off to the worst start to a year since 1991, tumbling 16% in January on concern that the spread of coronavirus will curb demand for transportation fuels. Futures fell 1.1% in New York on Friday, capping the worst month since May as investors were rattled by the … Read moreOil Off to Slowest Start Since 1991 With Virus Fear Spreading

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Saudi Push for Early OPEC+ Meeting Hits Russian Resistance

By Grant Smith, Javier Blas and Salma El Wardany Jan 30, 2020 (Bloomberg) Saudi Arabia’s push to convene an emergency OPEC+ meeting next month, bringing forward a gathering scheduled for March, ran into resistance from its key oil-market ally, Russia.The kingdom, the biggest member of the Organization of Petroleum Exporting Countries, has consulted with fellow producers on expediting … Read moreSaudi Push for Early OPEC+ Meeting Hits Russian Resistance

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Virus in China Threatens Oil Market’s Top Source of Growth

By Dan Murtaugh, James Herron and Saket Sundria Jan 30, 2020 (Bloomberg) For the global oil market, the coronavirus epidemic couldn’t have hit a worse place.As the industry banks on strong demand growth to overcome abundant supply, China, the epicenter of the disease, has been cherished as the engine of that consumption. Last year, when it … Read moreVirus in China Threatens Oil Market’s Top Source of Growth

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly  Jan 31, 2020 (Bloomberg) Coronavirus is a global health emergency, it’s Brexit day, and Trump trial likely to end today. Here are some of the things people in markets are talking about today. WHO says The World Health Organization declared the coronavirus outbreak a global health emergency as the number of cases continues to climb, … Read moreFive Things to Know in World Business Today

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Oil Heads for Biggest Monthly Loss Since May With Focus on Virus

By Ann Koh and Grant Smith Jan 31, 2020 (Bloomberg) Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink. Futures were little changed in New York on Friday, after sliding to a five-month low on Thursday, as the World Health Organization declared the … Read moreOil Heads for Biggest Monthly Loss Since May With Focus on Virus

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Stalled $1 Billion Gas Pipe Gets Backing From U.S. Regulator

By Stephen Cunningham Jan 30, 2020 (Bloomberg) A controversial $1 billion shale gas pipeline that’s been stalled by a dispute over whether it can seize state-owned land for construction won the backing of the nation’s top energy regulator.PennEast had sought the support of the Federal Energy Regulatory Commission after a court decision prevented it from exercising eminent … Read moreStalled $1 Billion Gas Pipe Gets Backing From U.S. Regulator

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Hi-Crush Inc. Reports Preliminary Fourth Quarter 2019 Results and Provides Business Updates

January 31, 2020 | Source: Hi-Crush Inc. Revenues for 4Q 2019 expected to be between $123 million and $127 million vs. $173 million in 3Q 2019 Expect 38% of 4Q 2019 revenues to be driven by logistics and equipment services vs. 33% in 3Q 2019 Exited 2019 with cash of $57.6 million, ABL Facility availability of $43.9 … Read moreHi-Crush Inc. Reports Preliminary Fourth Quarter 2019 Results and Provides Business Updates

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OPEC Weighs Earlier Meeting as Virus Threatens Oil Demand

By Grant Smith and Nayla Razzouk Jan 30, 2020 (Bloomberg) OPEC members are discussing holding an emergency meeting next month, bringing forward a gathering originally scheduled for March, as oil prices sink on concern the coronavirus outbreak will hit demand. Algerian Energy Minister Mohamed Arkab — who currently holds the ceremonial post of Organization of Petroleum … Read moreOPEC Weighs Earlier Meeting as Virus Threatens Oil Demand

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Oil Sinks to Three-Month Low as Asia Virus Spooks OPEC

By Ann Koh and Grant Smith Jan 30, 2020 (Bloomberg) Oil slumped again to a three-month low as concern that the coronavirus outbreak will hit demand prompted OPEC to consider an emergency meeting.Futures lost as much as 2.6% in New York. Airlines across the world suspended flights to China as the death toll from the virus … Read moreOil Sinks to Three-Month Low as Asia Virus Spooks OPEC

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Texas and Iowa Installed More Wind Turbines Than Ever Last Year

By Christopher Martin Jan 30, 2020 (Bloomberg) The top two U.S. states for wind power installed their most turbines ever last year, helping push up nationwide capacity growth to a seven-year high as tax benefits sent developers rushing projects into service. Texas added almost 4 gigawatts and Iowa installed 1.7 gigawatts, expanding their lead in wind … Read moreTexas and Iowa Installed More Wind Turbines Than Ever Last Year

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 30, 2020 (Bloomberg) Coronavirus spreads to more countries, Bank of England decision on a knife-edge, and it’s another big day for earnings. Here are some of the things people in markets are talking about today. Contagion The coronavirus death toll climbed to 170 with confirmed cases in China rising past 7,700 as the outbreak … Read moreFive Things to Know in World Business Today

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2020 Louisiana Energy Conference to Be Held in New Orleans May 26 – 29, 2020 Details HERE

Will Feature Panels May 27 – 28 and Field Trips on May 29 January 29, 2020  | Source: Louisiana Energy Conference NEW ORLEANS, Jan. 29, 2020 (GLOBE NEWSWIRE) — The 2020 Louisiana Energy Conference will be held in New Orleans on Tuesday afternoon May 26 through Friday, May 29, 2020 at The Ritz-Carlton, New Orleans at … Read more2020 Louisiana Energy Conference to Be Held in New Orleans May 26 – 29, 2020 Details HERE

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Valero Energy Reports 2019 Fourth Quarter and Full Year Results

January 30, 2020 | Source: Valero Energy Corporation Reported net income attributable to Valero stockholders of $1.1 billion, or $2.58 per share, for the fourth quarter and $2.4 billion, or $5.84 per share, for the year. Reported adjusted net income attributable to Valero stockholders of $873 million, or $2.13 per share, for the fourth quarter and $2.4 billion, or $5.70 … Read moreValero Energy Reports 2019 Fourth Quarter and Full Year Results

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Column: LNG, the “champagne” of fuels, should enjoy its “beer” moment

January 29, 2020 Reuters It’s been an extremely weak start to the new decade for liquefied natural gas (LNG) with spot prices in Asia falling to more than 10-year lows, but it’s not all doom and gloom for an industry that sees itself as part of the solution to climate change.The average spot price for … Read moreColumn: LNG, the “champagne” of fuels, should enjoy its “beer” moment

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Ovintiv Posts Anadarko Day Materials; Provides First Look at Strong 2019 Operational Results

January 29, 2020 CNW Company boosts returns by reducing STACK drilling and completion costs to $6.0 million per well DENVER, CO, Jan. 29, 2020 /CNW/ – Ovintiv Inc. (NYSE, TSX: OVV) released materials associated with its Anadarko Day conference call and webcast, planned for today at 2:30 p.m. MT (4:30 p.m. ET). In addition, initial operating results for 2019 were … Read moreOvintiv Posts Anadarko Day Materials; Provides First Look at Strong 2019 Operational Results

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Total Sued by French Cities, NGOs Over Carbon Emission Targets

By Francois de Beaupuy Jan 28, 2020 Oil giant Total SA is being sued by 14 local governments and a handful of non-governmental organizations in France for not doing enough to reduce its carbon emissions and fight global warming.The legal challenge is the latest sign that the biggest oil companies are coming under increasing pressure … Read moreTotal Sued by French Cities, NGOs Over Carbon Emission Targets

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 29, 2020 (Bloomberg) Coronavirus toll continues to rise, it’s decision day at the Fed, and impeachment trial rolls on. Here are some of the things people in markets are talking about today. Cases soar The number of confirmed coronavirus cases in China grew to almost 6,000, surpassing the country’s total from the … Read moreFive Things to Know in World Business Today

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Oil Extends Rebound From Three-Month Low as Inventories Decline

By Grant Smith and Ann Koh Jan 29, 2020 (Bloomberg) Oil extended its recovery from a three-month low as U.S. industry data showed a drop in crude inventories, while traders continued to assess the threat to demand from China’s coronavirus.Futures rose 0.9% in New York to trade near $54 a barrel, bolstered after an American Petroleum … Read moreOil Extends Rebound From Three-Month Low as Inventories Decline

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Oil Data From SARS Era Offers Clues to Impact of China Virus

By Christopher Sell Jan 29, 2020 (Bloomberg) Oil traders reacted to the outbreak of the coronavirus in China by dumping contracts for crude, diesel and jet fuel. Data from the last Chinese epidemic offer some clues as to whether the selloff is justified. The 2003 outbreak of Severe Acute Respiratory System, or SARS, did indeed crimp demand, according to … Read moreOil Data From SARS Era Offers Clues to Impact of China Virus

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Bonanza Creek Provides an Operational Update and 2020 Guidance

January 28, 2020 | Source: Bonanza Creek Energy, Inc. DENVER, Jan. 28, 2020 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek” or the “Company”) today provided preliminary 2019 results and 2020 guidance. The Company has also posted an updated investor presentation to its website. Highlights for fourth quarter and full year 2019 include: Average sales volumes … Read moreBonanza Creek Provides an Operational Update and 2020 Guidance

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Saudi Arabia ‘Closely Monitoring’ Virus Impact on Oil Market

By Javier Blas and Grant Smith  Jan 27, 2020 (Bloomberg) Saudi Arabia is “closely monitoring” the effect of the Chinese coronavirus outbreak on the oil market, but so far believes the crisis will have a “very limited impact” on global demand.Brent crude, the global oil benchmark, plunged nearly 4% on Monday, dropping below $60 a barrel, … Read moreSaudi Arabia ‘Closely Monitoring’ Virus Impact on Oil Market

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Green Deal Law To Make EU’s ‘Tectonic’ Energy Shift Irreversible

By Ewa Krukowska Jan 28, 2020 (Bloomberg) Europe wants to make its goal of becoming the first climate-neutral continent irreversible under a new law that is to be unveiled next month, offering investors the certainty they ask for before backing unprecedented levels of investment.The climate law will require all corners of the economy to take action … Read moreGreen Deal Law To Make EU’s ‘Tectonic’ Energy Shift Irreversible

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 28, 2020 Further coronavirus restrictions, Apple earnings due, and Trump lawyers wrap up defense. Here are some of the things people in markets are talking about today. Travel ban In the latest move to stop the spread of a deadly virus, China has announced it will stop individual travelers to Hong Kong and … Read moreFive Things to Know in World Business Today

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Outgoing BP CEO Warns of Moving Too Fast on Climate Change

BP Gas Station

By Kevin Crowley Jan 27, 2020 BP Plc’s outgoing Chief Executive Officer Bob Dudley warned Big Oil of moving too fast on investing in new technologies to counter climate change, because their failure could lead to financial ruin. “If you go too fast and you don’t get it right you can drive yourself out of … Read moreOutgoing BP CEO Warns of Moving Too Fast on Climate Change

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Everyone’s Favorite Climate Solution Has a Fire Problem

By David R Baker and Mark Chediak Jan 28, 2020 (Bloomberg) —The explosion ruptured the dusk settling over the desert in Surprise, Arizona. For hours, smoke had poured from a metal shed packed with lithium-ion batteries at a small electric substation. The batteries were tied to the electric grid, and somehow they had caught fire.Firefighters … Read moreEveryone’s Favorite Climate Solution Has a Fire Problem

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Exxon at a 10-Year Low Shows Challenges for Oil’s Biggest Major

By Kevin Crowley Jan 28, 2020 (Bloomberg) It’s almost as if the last decade never happened for investors of Exxon Mobil Corp. shares.Once the gold-standard of Big Oil, the stock closed Monday at its lowest since October 2010, amid a slump in oil prices due to concerns about weak demand coupled with a glut. The S&P … Read moreExxon at a 10-Year Low Shows Challenges for Oil’s Biggest Major

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Wise Up, Stock Analysts. Tesla Is the Real Deal.: Matthew A. Winkler

By Matthew A. Winkler Jan 28, 2020 The greatest shakeup in automobile history reordered the stock market this month when a minnow grew larger than a whale. Tesla Inc., the 17-year-old Palo Alto maker of battery-powered, zero-emission vehicles, is now the second-largest automaker measured by market capitalization, overtaking No. 2 Volkswagen with a value of $101 billion. It … Read moreWise Up, Stock Analysts. Tesla Is the Real Deal.: Matthew A. Winkler

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Oil Holds Near Three-Month Low as Virus Threatens Chinese Demand

By Grant Smith and Ann Koh Jan 28, 2020 (Bloomberg) Oil traded near the lowest close since mid-October as the market was dominated by alarm that the deadly coronavirus will hurt economic activity in China and beyond.Futures held near $53 a barrel in New York, after losing 9% during five straight days of declines to Monday, … Read moreOil Holds Near Three-Month Low as Virus Threatens Chinese Demand

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Halcón Changes Name to Battalion Oil Corporation and Announces NYSE American Listing Application

January 27, 2020 | Source: Battalion Oil Corporation Houston, Jan. 27, 2020 (GLOBE NEWSWIRE) — Halcón Resources Corporation announced today that it has changed its company name to Battalion Oil Corporation (“Battalion” or the “Company”). The new name reflects the Company’s new team, new culture, and new strategy. Richard Little, the Company’s Chief Executive Officer commented, … Read moreHalcón Changes Name to Battalion Oil Corporation and Announces NYSE American Listing Application

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EnCap Taps $6 Billion for Shale Drilling as Buyers Walk from Shale Assets

By Kevin Crowley (Bloomberg) EnCap Investments LP plans to use a $6 billion war chest to drill oil and natural gas wells, now that dwindling investor interest has made it tougher for private equity players to offload shale assets.The energy-focused firm sees “robust drilling economics” in many parts of the U.S. and is running 23 rigs … Read moreEnCap Taps $6 Billion for Shale Drilling as Buyers Walk from Shale Assets

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 27, 2020 (Bloomberg) China outbreak worsens, oil falls to three-month low, and Senate Republicans face new pressure to call impeachment witnesses. Here are some of the things people in markets are talking about today. Rising toll China’s coronavirus has lead to the deaths of at least 80 people with confirmed domestic cases jumping … Read moreFive Things to Know in World Business Today

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This Year’s Other Big Climate Election? It’s for a Seat on the Texas Railroad Commission

By Rachel Adams-Heard and Kevin Crowley Jan 27, 2020 (Bloomberg) An election held in the U.S. in 2020 could do a lot to shape global climate outcomes in the immediate future. It won’t feature Joe Biden, Bernie Sanders, or Elizabeth Warren, and the winner won’t live in the White House. It’s a race for a seat … Read moreThis Year’s Other Big Climate Election? It’s for a Seat on the Texas Railroad Commission

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Oil Falls to Three-Month Low as Virus Spread Raises Demand Fear

Crude Oil Shipments In The Persian Gulf

By Rakteem Katakey and Aaron Clark  Jan 27, 2020 (Bloomberg) Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply. Futures plunged more than 3% as China reported an increase in fatalities and infections. While the country extended the Lunar New Year … Read moreOil Falls to Three-Month Low as Virus Spread Raises Demand Fear

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VAALCO Announces the Appointment of William R. Thomas as President

January 27, 2020| Source: VAALCO Energy, Inc. HOUSTON, Jan. 27, 2020 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that Mr. William R. Thomas has been appointed President of VAALCO effective February 1, 2020.  Mr. Thomas has been serving as a non-executive director for VAALCO for the past … Read moreVAALCO Announces the Appointment of William R. Thomas as President

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Key Energy Services Announces Restructuring Support Agreement

January 27, 2020  | Source: Key Energy Services, Inc. HOUSTON, Jan. 27, 2020 (GLOBE NEWSWIRE) — Key Energy Services, Inc. (“Key” or the “Company”) announced today that it has entered into a Restructuring Support Agreement (including the exhibit thereto, the “RSA”) with lenders under its term loan facility collectively holding over 99.5% (the “Supporting Term Lenders”) of … Read moreKey Energy Services Announces Restructuring Support Agreement

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

Reuters U.S. energy firms added oil rigs for a second consecutive week, raising doubts over producers’ plans to continue reducing spending on new drilling for a second year in a row in 2020.Companies added three oil rigs in the week to Jan. 24, bringing the total count to 676, energy services firm Baker Hughes Co … Read moreU.S. drillers add oil rigs for second week in a row

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H2Sweet Inc.: A regenerable H2S Scrubbing Process

  The Sulfcat® system is an innovative H2S scrubbing process.  Utilizing iron particles to catalyze reactions, H2S molecules are converted to elemental sulfur. This is a new approach to an established technology and is a significant improvement upon traditional H2S scrubbing processes that consume large volumes of Triazine based scavengers. Sulfcat® also improves upon more … Read moreH2Sweet Inc.: A regenerable H2S Scrubbing Process

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Shell is using Osperity’s computer vision solution at several Canadian terminals. Find out how to make your terminals safer, more productive and secure:

Osperity Feature Logo 400x270

A true manage by exception solution Osperity uses advanced Computer Vision (AI) and machine learning to recognize objects and events of interest while disregarding objects of no value, minimizing false positives. Our cloud-based platform is designed for industrial applications and is being used at several midstream and downstream terminals throughout North America and Australia. Osperity … Read moreShell is using Osperity’s computer vision solution at several Canadian terminals. Find out how to make your terminals safer, more productive and secure:

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Oil Posts Worst Week in a Year as Virus Selloff Deepens

By Jackie Davalos Jan 24, 2020 (Bloomberg) Crude posted the worst weekly decline in more than a year on concern that the spread of China’s coronavirus will cripple fuel demand.Brent futures sank 2.2% in London on Friday. Deaths from the coronavirus rose to at least 26 and China expanded travel restrictions for about 40 million people in an attempt to … Read moreOil Posts Worst Week in a Year as Virus Selloff Deepens

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Global LNG Poised for Terrible Year as Supply Floods Market

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 Stephen Stapczynski, Anna Shiryaevskaya and Naureen S. Malik Jan 23, 2020 (Bloomberg) Liquefied natural gas prices are poised to test record lows this year thanks to an onslaught of new supply and warmer winter temperatures curbing consumption.The startup of new export projects from Australia to the U.S. has flooded the market, while brimming stockpiles in … Read moreGlobal LNG Poised for Terrible Year as Supply Floods Market

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 24, 2020 (Bloomberg) Virus travel restrictions hit 40 million, it’s PMI day, and Democrats wrap up their impeachment case. Here are some of the things people in markets are talking about today. Movement bans Restrictions on travel in China were further widened, with 40 million people now banned from making journeys as authorities … Read moreFive Things to Know in World Business Today

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Oil Set for Weekly Slump as Asia Virus Adds to Demand Concerns

By Saket Sundria and Grant Smith  Jan 24, 2020 (Bloomberg) Oil headed for a 5.7% loss this week amid fears that China’s coronavirus will erode fuel demand just as markets struggle with a fragile world economy and adequate supplies.Futures held above $55 a barrel in New York, buoyed by an unexpected drop in U.S. crude inventories and a … Read moreOil Set for Weekly Slump as Asia Virus Adds to Demand Concerns

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Making Big Oil Pay for Climate Change May Be Impossible

By Erik Larson Jan 24, 2020 (Bloomberg) Exxon Mobil dodged a bullet last month when a judge rejected a novel climate-change lawsuit brought by New York’s attorney general. The case began with a promise from state officials that there would be a historic reckoning for the fossil fuel giant. It ended ignominiously as a failed accounting fraud claim. … Read moreMaking Big Oil Pay for Climate Change May Be Impossible

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Carbon Tax Won’t Be Necessary Due to Technology, U.S. Treasury Secretary Mnuchin Says

By Jill Ward Jan 24, 2020 (Bloomberg) U.S. Treasury Secretary Steven Mnuchin weighed in on the debate about a carbon tax in Davos, saying technological developments would make it redundant. “If you want to put a tax on people, go ahead and put a carbon tax. That is a tax on hard working people. I personally … Read moreCarbon Tax Won’t Be Necessary Due to Technology, U.S. Treasury Secretary Mnuchin Says

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 24, 2020 (Bloomberg) Virus travel restrictions hit 40 million, it’s PMI day, and Democrats wrap up their impeachment case. Here are some of the things people in markets are talking about today. Movement bans Restrictions on travel in China were further widened, with 40 million people now banned from making journeys as authorities … Read moreFive Things to Know in World Business Today

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Truck-Stop Pilot Flying J Expands Into Energy Market

Truck-Stop Pilot Flying J Expands Into Energy Market By Catherine Ngai (Bloomberg) America’s largest truck-stop company is rebranding as it grows its market share in both retail fuel and energy divisions.Pilot Flying J is changing its corporate name and structure to be called Pilot Company after a two-year push into the energy business, a growth area … Read moreTruck-Stop Pilot Flying J Expands Into Energy Market

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DAVOS UPDATE: RBC CEO Says Fossil Fuels Necessary in Shift to Green Economy

By Doug Alexander Jan 23, 2020 (Bloomberg) Royal Bank of Canada Chief Executive Officer David McKay said any shift to a more climate-friendly economy still depends on fossil fuels.“We have a longer-term transition as we change the energy source, we move to a greener economy, but it is a transition,” McKay said Thursday during a Bloomberg … Read moreDAVOS UPDATE: RBC CEO Says Fossil Fuels Necessary in Shift to Green Economy

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Apache Corporation Provides Fourth-Quarter Supplemental Information and Schedules Results Conference Call for Feb. 27, 2020, at 10 a.m. Central Time

January 23, 2020  | Source: Apache Corporation HOUSTON, Jan. 23, 2020 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, NASDAQ: APA) today provided supplemental information regarding certain fourth-quarter 2019 financial and operational results. Supplemental quarterly information To further assist analysts with their fourth-quarter earnings models, the company is providing the following estimates: Average Realized Prices – 4Q19 Oil … Read moreApache Corporation Provides Fourth-Quarter Supplemental Information and Schedules Results Conference Call for Feb. 27, 2020, at 10 a.m. Central Time

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Oil States Updates Fourth Quarter 2019 Guidance

January 23, 2020  | Source: Oil States International, Inc. HOUSTON, Jan. 23, 2020 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE:OIS) announced today updated financial estimates for the fourth quarter of 2019 noting weakness associated with the greater than anticipated decline in U.S. land completion activities. Fourth quarter 2019 unaudited revenues for the Well Site Services … Read moreOil States Updates Fourth Quarter 2019 Guidance

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FRAC SHACK INC. ANNOUNCES ACQUISITION OF OPERATING ASSETS OF THE SANDTINEL GROUP OF COMPANIES

Acheson, Alberta, January 23, 2020—Frac Shack Inc. (Frac Shack) announced that it has acquired all the operating assets of the Sandtinel Group of Companies (Sandtinel) for an undisclosed amount. Frac Shack will fund the purchase with cash and debt. All Sandtinel employees have also agreed to join the new entity, called Sand Separation Technologies Inc. … Read moreFRAC SHACK INC. ANNOUNCES ACQUISITION OF OPERATING ASSETS OF THE SANDTINEL GROUP OF COMPANIES

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Canada’s oil and gas industry already working on IEA’s call for lower emissions future – CEC

Published by Canadian Energy Centre  Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Deborah Jaremko A Cenovus SAGD (steam-assisted gravity drainage) well pad at the company’s Foster Creek project in northeastern Alberta. Photograph courtesy Cenovus Energy The International Energy Agency (IEA) is urging the world’s oil and gas industry to use … Read moreCanada’s oil and gas industry already working on IEA’s call for lower emissions future – CEC

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 23, 2020 (Bloomberg) China bans travel from virus city, it’s decision day at the ECB, and trade tensions rise between the U.S. and Europe. Here are some of the things people in markets are talking about today. Lockdown Chinese officials dramatically moved to shut down travel from Wuhan, the city of 11 … Read moreFive Things to Know in World Business Today

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Natural Gas Group Touts Climate Benefit as Fuel Comes Under Fire

By Naureen S. Malik Jan 22, 2020 (Bloomberg) A natural gas industry group is touting the fuel’s climate credentials as more cities move to ban it from homes and businesses. Using gas for heating and cooking is far more efficient than using it to produce electricity, according to prepared remarks to investors by Scott Prochazka, chairman … Read moreNatural Gas Group Touts Climate Benefit as Fuel Comes Under Fire

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Oil Falls to Seven-Week Low as Asia Virus Eclipses Supply Loss

By Saket Sundria and Grant Smith  Jan 23, 2020 (Bloomberg)Oil fell further after hitting a seven-week low on speculation that China’s coronavirus outbreak may dent demand, just as the market already contends with plentiful supplies. Futures lost 1.6% in New York to trade below $56 a barrel as the world’s biggest oil importer effectively quarantined a major … Read moreOil Falls to Seven-Week Low as Asia Virus Eclipses Supply Loss

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Gas Exports Have a Dirty Secret: A Carbon Footprint Rivaling Coal’s

By Catherine Traywick, Stephen Cunningham, Naureen Malik and Dave Merrill Jan 23, 2020 (Bloomberg) In May, while President Donald Trump toured a new $10 billion plant designed to prepare natural gas for export, he made a vow. Such facilities would be good for the environment, he said, or they won’t get approved.The president has greenlit 11 projects so … Read moreGas Exports Have a Dirty Secret: A Carbon Footprint Rivaling Coal’s

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U.S. Treasury Secretary Mnuchin Tells Thunberg to Go Study Economics: Davos Update

By Iain Rogers and Chris Reiter  Jan 23, 2020 (Bloomberg) The rich and powerful are in Davos, Switzerland, for the World Economic Forum’s 50th annual meeting, and the gathering is being closely watched to see how the global elite aims to tackle problems they helped create, above all climate change. Germany’s Angela Merkel will speak … Read moreU.S. Treasury Secretary Mnuchin Tells Thunberg to Go Study Economics: Davos Update

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Keystone XL Wins Green Light From U.S. to Plow Ahead on Project

Keystone xl pipeline

By Kevin Orland and Jennifer A. Dlouhy Jan 22, 2020 (Bloomberg) TC Energy Corp.’s long-delayed Keystone XL pipeline took another step forward with U.S. approval of a key stretch of construction.The Interior Department authorized construction across a swath of federal land in Montana, according to a release on Wednesday.While approval by the oil-friendly Trump administration was … Read moreKeystone XL Wins Green Light From U.S. to Plow Ahead on Project

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U.S. shale has already peaked for major service companies

HOUSTON (Bloomberg) – U.S. shale oil fracking has already peaked and is in a period of sustained contraction, according to two major providers of services to the industry. That view from Halliburton Co. and Schlumberger Ltd. signals an eventual deceleration in U.S. oil production, which is currently at record highs. Slower output growth would have … Read moreU.S. shale has already peaked for major service companies

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North American oil company bankruptcies jump in 2019

Texas Oil Pump

January 22, 2020 Reuters The number of oil company bankruptcies rose 50% in 2019 over the previous year, as a slide in prices continued to shake producers in the United States and Canada, Dallas law firm Haynes and Boone said in a report released on Wednesday. U.S. and Canadian oil and natural gas exploration and production … Read moreNorth American oil company bankruptcies jump in 2019

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WATCH THE VIDEO: BOOK YOUR SPACE NOW! – Global Petroleum Show 2020 – Calgary, Alberta Canada

  Show Details HERE Book Your Space SHAPING THE FUTURE OF ENERGY Global Petroleum Show Unites oil and gas industry for a stronger future The 51st running of North America’s Leading Energy Event, the Global Petroleum Show (GPS) highlighted new technologies, innovation and optimism for a strong Canadian energy sector. Over 53,000 members of government, … Read moreWATCH THE VIDEO: BOOK YOUR SPACE NOW! – Global Petroleum Show 2020 – Calgary, Alberta Canada

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 22, 2020 (Bloomberg) China virus spreads to more countries, impeachment trial may be over soon, and rich people go skiing. Here are some of the things people in markets are talking about today. Containment efforts Hong Kong reported its first case of the respiratory virus which has so far killed nine people in China, … Read moreFive Things to Know in World Business Today

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Oil CEOs at Davos Debate Tougher CO2 Cuts as Pressure Mounts

By Javier Blas Jan 22, 2020 (Bloomberg) The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos, a sign of how much pressure they’re under from activists and investors to address climate change. The meeting, part of a World Economic Forum dominated by … Read moreOil CEOs at Davos Debate Tougher CO2 Cuts as Pressure Mounts

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Oil Declines on Concerns Asia Virus Could Reduce Demand

By Saket Sundria and Grant Smith  Jan 22, 2020 (Bloomberg)Oil declined on concerns that a coronavirus outbreak in Asia could spread and curtail demand in a market that’s already contending with plentiful supplies.Futures slipped 1.2% to trade below $58 a barrel in New York. Goldman Sachs Group Inc. said prices could fall about $3 a barrel if … Read moreOil Declines on Concerns Asia Virus Could Reduce Demand

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Gardner Denver
STEP Energy Services
Presto GeoSystems

DAVOS UPDATE: Laurence Fink, Mark Carney, Anne Richards & Others Comment on Climate Risks

By Yuliya Fedorinova and Jake Rudnitsky Jan 22, 2020 (Bloomberg) Climate change is the key topic at this year’s World Economic Forum’s annual meeting in Davos, framed by the face-off between U.S. President Donald Trump and activist Greta Thunberg.“We must reject the perennial prophets of doom and their predictions of the apocalypse,” Trump told an audience that included … Read moreDAVOS UPDATE: Laurence Fink, Mark Carney, Anne Richards & Others Comment on Climate Risks

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STEP Energy Services

Floating Wind Farm Developer Seeks New Funding for Bigger Scale

By William Mathis Jan 22, 2020 (Bloomberg) One of the most advanced developers of the growing floating wind farm business, Principle Power Inc., is seeking to raise as much as $25 million to drive the next phase of its effort to make the technology commercial. The potential investment will come at a critical moment for floating … Read moreFloating Wind Farm Developer Seeks New Funding for Bigger Scale

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U.S. Anti-OPEC Efforts Fading as Cartel’s Influence Seen Waning

By Stephen Cunningham  Jan 22, 2020 (Bloomberg) U.S. efforts to rein in OPEC’s influence over global oil markets are losing momentum as the Trump administration takes a wait-and-see approach to energy prices. While supporters of a bill that would open OPEC to possible U.S. antitrust action thought they’d found a cheerleader in Donald Trump, the current … Read moreU.S. Anti-OPEC Efforts Fading as Cartel’s Influence Seen Waning

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Fortune Names Apache Corporation One of the World’s Most Admired Companies

January 21, 2020 11:10 ET | Source: Apache Corporation HOUSTON, Jan. 21, 2020 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, Nasdaq: APA) has been named by FORTUNE magazine as one of the World’s Most Admired Companies. This is Apache’s third consecutive year to be recognized in the annual list. “This recognition goes to our employees. It’s through their … Read moreFortune Names Apache Corporation One of the World’s Most Admired Companies

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Gardner Denver
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VAALCO Announces Operational Update Including Successfully Restoring Production at Etame 10H and Etame 4H Wells

January 21, 2020  | Source: VAALCO Energy, Inc. HOUSTON, Jan. 21, 2020 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today provided an operational update on its 2019/2020 drilling program offshore Gabon. Highlights Successfully completed a planned workover on the Etame platform for the Etame 10H well and restored 600 … Read moreVAALCO Announces Operational Update Including Successfully Restoring Production at Etame 10H and Etame 4H Wells

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U.S. natgas futures drop to 3-year lows on milder weather forecasts

Natural Gas

January 21, 202o Reuters U.S. natural gas futures fell to a fresh three-year low below $2 on Tuesday on forecasts for milder winter weather through early February than previously expected.Low gas prices are a boon to consumers who pay less to heat homes and businesses, but are painful for energy companies – like EQT Corp , … Read moreU.S. natgas futures drop to 3-year lows on milder weather forecasts

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 21, 2020 (Bloomberg) China virus spreads, Trump impeachment trial opens, and Davos gathering continues. Here are some of the things people in markets are talking about today. Contagion The mysterious respiratory disease in China which has already killed six people has entered a new phase with the illness spreading from person to person. The number … Read moreFive Things to Know in World Business Today

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Gardner Denver
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STEP Energy Services

Oil Slides as Ample Supplies Soften Shock of Libya Disruption

By Saket Sundria and Grant Smith Jan 21, 2020 (Bloomberg) Oil fell as global markets remained comfortably supplied despite the suspension of exports from Libya, and as equities faltered on political and economic worries in Asia. Brent crude lost as much as 1.8% in London, approaching $64 a barrel. Libyan ports have been closed on the … Read moreOil Slides as Ample Supplies Soften Shock of Libya Disruption

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Energy Chiefs Tout CO2 Capture as Thunberg Slams Lack of Action

By Francine Lacqua and Jeremy Hodges Jan 21, 2020 (Bloomberg)Capturing carbon dioxide from the fossil-fuel industry is key to slowing dangerous global warming, energy chiefs said in Davos as climate concerns dominated the annual business forum more than ever before. Oil and gas producers are under mounting pressure to help prevent a damaging rise in … Read moreEnergy Chiefs Tout CO2 Capture as Thunberg Slams Lack of Action

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McDermott Will Seek Bankruptcy, Enters Pact to Sell Lummus Unit

By Jeremy Hill and Nicole Bullock Jan 21, 2020 (Bloomberg) McDermott International Inc. will file for bankruptcy after the engineering and construction company reached an agreement with creditors to tackle debt acquired through a botched acquisition. The Houston-based company said that it has the support of two-thirds of the holders of its funded debt in a … Read moreMcDermott Will Seek Bankruptcy, Enters Pact to Sell Lummus Unit

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Gardner Denver
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Trump Lauds His Achievements as Greta Urges Action: Davos Update

By Iain Rogers and Chris Reiter Jan 21, 2020 (Bloomberg) The world’s rich and powerful are in Davos, Switzerland, for the World Economic Forum’s 50th annual meeting, and the gathering will be closely watched to see how the global elite aims to tackle issues they helped create, above all climate change.President Donald Trump’s appearance, which comes … Read moreTrump Lauds His Achievements as Greta Urges Action: Davos Update

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DCP Midstream and Apergy Announce a Joint Technology Development Agreement to Improve Reliability of Oil and Gas Operations Using Artificial Intelligence

January 21, 2020  | Source: Apergy Corporation; DCP Midstream, LP HOUSTON, Jan. 21, 2020 (GLOBE NEWSWIRE) — DCP Midstream, LP (“DCP” or “DCP Midstream”) (NYSE: DCP) and Windrock, Inc. (“Windrock”), a subsidiary of Apergy Corporation (“Apergy”) (NYSE: APY), announced that they have agreed to jointly develop a first of its kind set of digital solutions that … Read moreDCP Midstream and Apergy Announce a Joint Technology Development Agreement to Improve Reliability of Oil and Gas Operations Using Artificial Intelligence

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Gardner Denver
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Somebody Big Has Called This Year’s Oil Market Completely Wrong

By Julian Lee (Bloomberg) Somebody big has got their analysis of the 2020 oil market flat wrong.That’s the bottom line from a comparison of supply-and-demand forecasts provided by OPEC, the International Energy Agency in Paris, and the U.S. Energy Information Administration. The Organization of Petroleum Exporting Countries agreed in December to deepen output curbs until … Read moreSomebody Big Has Called This Year’s Oil Market Completely Wrong

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U.S. Rejoins Battle for Biggest Oil Market With Trade Deal

By Alex Longley Jan 20, 2020 (Bloomberg) The U.S.-China trade agreement is set to intensify the battle for the world’s most prized oil market.China’s imports of U.S. crude may reach 700,000 barrels a day or more this year, estimates from consultants show. That volume, 50% above the previous monthly record, would have put the U.S. among the top … Read moreU.S. Rejoins Battle for Biggest Oil Market With Trade Deal

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Free Markets Made Davos. Now Governments Are Crashing the Party

By Ben Holland Jan 20, 2020 (Bloomberg) In a memorable exchange at Davos last year, tech billionaire Michael Dell was explaining how higher taxes on the rich had never done much good anywhere, when he was contradicted. Actually, said Erik Brynjolfsson, a professor at the Massachusetts Institute of Technology, they’d worked pretty well within living memory … Read moreFree Markets Made Davos. Now Governments Are Crashing the Party

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Opinion: Small Oil and Gas Companies Must Consolidate, Shed Costs: Liam Denning

By Liam Denning (Bloomberg Opinion) This is a big year for the U.S. oil and gas industry. If the past five have constituted a reckoning with the old frack-it-till-you-make-it model, then this one is where we find out if the reckoning stuck.The new mantra espoused by many energy companies is that returns are king. They are. The chart below, which … Read moreOpinion: Small Oil and Gas Companies Must Consolidate, Shed Costs: Liam Denning

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Five Things  to Know in World Business Today

World Business

By Sybilla Gross Jan 19, 2020 (Bloomberg)  Hong Kong’s leaders rebuff a key demand from the protesters, the U.S.-China trade deal is Trump’s impeachment hedge and world leaders in Berlin are working towards a Libyan cease-fire. Here are some of the things people in markets are talking about today. Hong Kong Violence Over the weekend, Hong Kong … Read moreFive Things  to Know in World Business Today

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

Oil Advances to One-Week High as Unrest Hits Iraq and Libya

By Grant Smith and Alex Longley  Jan 20, 2020 (Bloomberg) Oil rose to a more than one-week high in London as supply disruptions in Iraq and Libya reignited concerns over the market’s vulnerability to geopolitical risk in key production regions.Brent futures increased to more than $65 a barrel after Libya’s oil production almost ground to a halt as … Read moreOil Advances to One-Week High as Unrest Hits Iraq and Libya

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T.A. Cook
Gardner Denver
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Presto GeoSystems

Continued Growth in the U.S. for G&B Portable Fabric Buildings

GB-Portable-Fabric-Buildings-Feature-Logo-400x270

  100×144 ClearSpan Structure constructed on concrete blocks G&B Portable Fabric Buildings is excited about our continued expansion into the United States. As the company has grown, the additional expansion offers new and innovative solutions for building storage and warehousing in the gulf coast states such as Texas, Louisiana, Mississippi, Alabama, and Florida.   G&B; … Read moreContinued Growth in the U.S. for G&B Portable Fabric Buildings

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Gardner Denver
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Warren Calls On Rick Perry To Step Down From Energy Transfer Board

Jan 17, 2020 (Bloomberg) Democratic presidential candidate Elizabeth Warren is calling on former U.S. Energy Secretary Rick Perry to step down from the board of the general partner that controls Dallas-based pipeline giant Energy Transfer LP.In a letter dated Jan. 16, Warren said Perry’s decision to join the board is “unethical” because Energy Transfer lobbied the Department of … Read moreWarren Calls On Rick Perry To Step Down From Energy Transfer Board

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McDermott Is Said to Prepare for Bankruptcy as Soon as Next Week

By Allison McNeely and Katherine Doherty  Jan 17, 2020 (Bloomberg) McDermott International Inc. is preparing to file for bankruptcy as soon as next week to address its more than $4 billion debt load, according to people with knowledge of the matter.The Houston-based company, which builds oil platforms and gas-export plants for energy producers, is negotiating a … Read moreMcDermott Is Said to Prepare for Bankruptcy as Soon as Next Week

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T.A. Cook
Gardner Denver
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STEP Energy Services

U.S. drillers add oil rigs for first week in four – Baker Hughes

Jan 17 (Reuters) – U.S. energy firms this week added oil rigs for the first time in four weeks even as the pace of growth in record crude output is expected to slow. Companies added 14 oil rigs in the week to Jan. 17, bringing the total count to 673, energy services firm Baker Hughes … Read moreU.S. drillers add oil rigs for first week in four – Baker Hughes

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T.A. Cook
Gardner Denver
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STEP Energy Services

America Is Awash With Natural Gas and It’s About to Get Worse

Natural Gas

By Rachel Adams-Heard, Naureen S. Malik and Sayer Devlin (Bloomberg) One chilly day in October, President Donald Trump boarded Air Force One and flew to Pennsylvania to hail one of the state’s most important industries — not coal, but natural gas. Trump spoke at an industry event of the “astonishing increase” in shale gas production. The Appalachian region … Read moreAmerica Is Awash With Natural Gas and It’s About to Get Worse

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Gardner Denver
T.A. Cook
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BlackRock’s New Morality Marks the End for Coal: Nathaniel Bullard

By Nathaniel Bullard Jan 17, 2020 (Bloomberg Opinion) A quick reader’s note on some exciting news: Starting next week, Sparklines becomes part of a new daily climate newsletter from Bloomberg. You’ll get the latest on critical scientific, financial and technological developments all week long, including Sparklines every Thursday. You can unsubscribe at any point or modify your email preferences on … Read moreBlackRock’s New Morality Marks the End for Coal: Nathaniel Bullard

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STEP Energy Services
Presto GeoSystems

One Energy: A Wind Power Pioneer’s Hard Startup Funding Lesson – Liam Denning

By Liam Denning (Bloomberg Opinion) —I’m used to getting emails touting some startup’s plan for world domination. So when I got one from the CEO of a wind-energy firm with the subject line “Heading for the cliff,” I actually read it. It helped I had spoken already with Jereme Kent, who founded and runs One Energy Enterprises … Read moreOne Energy: A Wind Power Pioneer’s Hard Startup Funding Lesson – Liam Denning

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

Oil Falls for Second Week as Ample Supply Offsets Trade Hopes

By Sheela Tobben  Jan 17, 2020 (Bloomberg) Oil declined for the second week as signs that supplies remain plentiful offset optimism over the signing of the U.S.-China trade agreement.Futures in New York were little changed Friday but ended the week 0.9% lower. Refiners have turned a crude surplus into a product surplus with U.S. gasoline and … Read moreOil Falls for Second Week as Ample Supply Offsets Trade Hopes

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

Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jan 17, 2020 (Bloomberg) China growth stabilizes, U.S. to sell 20-year bonds, and the EU to examine trade deal. Here are some of the things people in markets are talking about today. Good news There were signs a firmer recovery could be underway in China after GDP data released overnight showed growth stabilized at 6% … Read moreFive Things to Know in World Business Today

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

Wind, Storage and EVs Are Racing Ahead While Wider Green Investment Stalls

By Jeremy Hodges and Akshat Rathi Jan 16, 2020 (Bloomberg) A few renewable energy technologies are bracing for rapid growth, breaking away from stagnation in investment across the whole industry last year. A BloombergNEF report that counted $282.2 billion in funding for clean energy technologies in 2019, up just 1% from the year before, suggested electric … Read moreWind, Storage and EVs Are Racing Ahead While Wider Green Investment Stalls

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Gardner Denver
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Commentary: Methane Rules Are Good for the Energy Industry: Fred Krupp

By Fred Krupp Jan 17, 2020 (Bloomberg Opinion) Everywhere you look, it seems there’s another ad trying to persuade people that natural gas is the key to a clean energy future. The American Petroleum Institute (API) is running a seven-figure campaign touting its climate benefits, despite the fact that natural gas is a fossil fuel with a significant … Read moreCommentary: Methane Rules Are Good for the Energy Industry: Fred Krupp

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Gardner Denver
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Oil Near $59 as Trade Deal Hopes Jostle With Ample Supply

By Elizabeth Low and Grant Smith Jan 17, 2020 (Bloomberg) Oil was near $59 a barrel in New York after rising the most in almost two weeks as the U.S. and China signed a trade agreement, though remains capped by signs that supplies remain plentiful.Futures gained 0.5%, having increased 1.2% on Thursday as Washington and Beijing’s … Read moreOil Near $59 as Trade Deal Hopes Jostle With Ample Supply

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Gardner Denver
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Trudeau’s Oil Pipeline Wins Legal Battle in Canada’s Top Court

By Natalie Obiko Pearson Jan 16, 2020 (Bloomberg) Prime Minister Justin Trudeau’s bid to complete the Trans Mountain oil pipeline won a major victory Thursday as the nation’s top court rejected an appeal brought by British Columbia aimed at challenging the controversial project. The Supreme Court of Canada has dismissed the case, the court said in … Read moreTrudeau’s Oil Pipeline Wins Legal Battle in Canada’s Top Court

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Gardner Denver
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Decline in ‘Fracklog’ Shows Scale of Pullback by U.S. Shale Drillers

By David Wethe Jan 16, 2020 (Bloomberg) As the U.S. shale boom unfolded, the number of oil wells that were drilled but never opened for production steadily rose. Now, that figure has plunged by a surprising 10% in the newest sign yet of tough times for drillers.A weighty decline in the so-called fracklog is perhaps the … Read moreDecline in ‘Fracklog’ Shows Scale of Pullback by U.S. Shale Drillers

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Shale Discipline Seen Curbing U.S. Oil Output Growth by Over 50%

By Sheela Tobben (Bloomberg) U.S. oil output growth could decelerate by more than 50% next year as greater capital discipline cuts drilling rigs in America’s largest shale patch.Production is set to expand by 400,000 barrels a day, the weakest growth since at least 2017, according to the U.S. Energy Information Administration. Output is seen increasing by a little … Read moreShale Discipline Seen Curbing U.S. Oil Output Growth by Over 50%

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Gardner Denver
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STEP Energy Services
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Republicans Plot Climate Strategy Amid Growing Political Risk

By Jennifer A. Dlouhy and Ari Natter Jan 16, 2020 (Bloomberg) House Republican lawmakers will huddle over their approach to climate change during a closed-door strategy summit on Thursday, as they face intensifying pressure from younger voters to address the environmental threat. The strategy session is spurred by a growing recognition among some Republican congressional leaders … Read moreRepublicans Plot Climate Strategy Amid Growing Political Risk

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Even Under Trump, U.S. Renewable Investment Hit a Record in 2019

By Akshat Rathi and Jeremy Hodges Jan 16, 2020 (Bloomberg) The U.S. renewable energy industry doesn’t seem to take much notice of President Donald Trump’s views on green energy and climate change as investments surged to a record last year. New investments were buoyed by wind and solar companies rushing to qualify for federal tax credits … Read moreEven Under Trump, U.S. Renewable Investment Hit a Record in 2019

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T.A. Cook
Gardner Denver
STEP Energy Services
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Five Things You Need to Know to Start Your Day

World Business

By Lorcan Roche Kelly Jan 16, 2020 (Bloomberg) Jury’s out on trade deal, more bank earnings, and oil reaps U.S.-China deal benefit. Here are some of the things people in markets are talking about today. Winners, losers (and doubts) Analysts are welcoming the phase-one trade deal between the U.S. and China that was signed yesterday, while cautioning that … Read moreFive Things You Need to Know to Start Your Day

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Gardner Denver
STEP Energy Services
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Cold Blast Means Lower Prices for Canadian Oil Sands Producers

By Robert Tuttle Jan 15, 2020 (Bloomberg) An arctic blast sweeping across Western Canada is weighing on the price of heavy crude.Temperatures of -30 degrees Celsius (-22 Fahrenheit) and lower have descended on Alberta and Saskatchewan — cold enough to render the region’s viscous oil rock solid. To transport it, producers must blend in more of … Read moreCold Blast Means Lower Prices for Canadian Oil Sands Producers

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T.A. Cook
Gardner Denver
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STEP Energy Services

Oil Near Six-Week Low as Ample Supply Offsets Trade Hopes

By Elizabeth Low and Grant Smith Jan 16, 2020 (Bloomberg) Oil traded near its lowest closing level in six weeks as cautious hopes that the U.S.-China trade pact will support demand were offset by signs of ample supply. Futures held near $58 a barrel in New York after settling at the lowest since Dec. 3 on … Read moreOil Near Six-Week Low as Ample Supply Offsets Trade Hopes

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Gardner Denver
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STEP Energy Services Completes Inaugural Coiled Tubing Job in North Dakota

Step-Energy-Services-Feature

Houston, Texas  (January 16, 2020) – In early January, STEP Energy Services (STEP) performed its first coiled tubing job in North Dakota for an independent oil producer in the area. The ultra-capacity coiled tubing unit travelled to a four well pad just outside of Watford City in the Bakken formation. The composite plug milling operation was … Read moreSTEP Energy Services Completes Inaugural Coiled Tubing Job in North Dakota

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Gardner Denver
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Quantum Silicon Inc.: A new generation of computing circuits that are tiny, fast, and cool

Zone-Startups-Logo-1

Imagine a future where your computer not only runs 100 times faster, it also uses 1% of the amount of energy, saving time, money and the environment. It might sound like a dream, but an Alberta company has turned it into reality. Quantum Silicon Inc. (QSi) is revolutionizing the way technology is created—harnessing the power … Read moreQuantum Silicon Inc.: A new generation of computing circuits that are tiny, fast, and cool

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Gardner Denver
STEP Energy Services
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Cheap Natural Gas Could Add 500 Million Tons to U.S. Emissions

By Akshat Rathi and Rachel Adams-Heard  Jan 15, 2020 (Bloomberg) Access to cheap natural gas has helped displace coal and cut greenhouse gas emissions. But it’s also incentivized a massive buildout of fossil-fuel infrastructure along the U.S. Gulf Coast that one study says could increase carbon emissions by half a billion metric tons a year.A long … Read moreCheap Natural Gas Could Add 500 Million Tons to U.S. Emissions

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Peak Permian Oil Output Is Closer Than You Think, Investor Says

By Simon Casey Jan 14, 2020 (Bloomberg) Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor.Adam Waterous, who runs Waterous Energy Fund, regards the sector’s financial position as unsustainable after years of disappointing returns for … Read morePeak Permian Oil Output Is Closer Than You Think, Investor Says

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Gardner Denver
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Apache Donates More Than 61,000 Trees to 54 Organizations

January 15, 2020 11:20 ET | Source: Apache Corporation HOUSTON, Jan. 15, 2020 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, Nasdaq: APA) has announced the donation of over 61,000 trees to 54 partner organizations through its annual Apache Tree Grant Program. Since the program’s launch in 2005, more than 4.6 million trees have been planted with partners in … Read moreApache Donates More Than 61,000 Trees to 54 Organizations

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Gardner Denver
T.A. Cook
Presto GeoSystems
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Five Things to Know in World Business Today

World Business

By Sam Potter Jan 15, 2020 (Bloomberg) The trade deal signing is upon us, no one wins the Dems debate, and the bar is high for big bank results. Here are some of the things people in markets are talking about today. Happy Big Beautiful Monster Day! Well, it’s time. President Donald Trump is poised to sign a phase-one … Read moreFive Things to Know in World Business Today

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Oil Trades Near Six-Week Low as Data Shows U.S. Stockpiles Rose

By Elizabeth Low and Grant Smith Jan 15, 2020 (Bloomberg) Oil traded near a six-week low as industry data showing an increase in U.S. crude stockpiles re-affirmed expectations that global markets will be oversupplied in the first part of the year. Futures steadied near $58 a barrel as traders focused on the approaching seasonal lull in … Read moreOil Trades Near Six-Week Low as Data Shows U.S. Stockpiles Rose

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Gardner Denver
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