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Trump Seizes On Biden Oil Comment to Warn Swing State Voters

By Jennifer A. Dlouhy and Ari Natter Oct 22, 2020 (Bloomberg) President Donald Trump seized on Joe Biden’s pledge Thursday to eventually replace fossil fuels with renewable energy, turning the Democratic nominee’s remarks into a warning for swing state voters that oil and gas jobs could be at risk. Biden’s comment came in response to a … Read more Trump Seizes On Biden Oil Comment to Warn Swing State Voters

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U.S. oil and gas rigs rise to highest since May: Baker Hughes

By Scott DiSavino (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row for the first time since June 2018, with the industry expecting more momentum in drillers’ return to the wellpad as crude prices steady around $40 a barrel. The oil and gas rig … Read more U.S. oil and gas rigs rise to highest since May: Baker Hughes

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Democrats in U.S. drilling states push back against Biden oil remarks

By Nichola Groom (Reuters) – Democratic candidates in oil drilling states were quick to distance themselves on Friday from comments by their party’s presidential candidate, Joe Biden, that indicated he would move the United States away from a reliance on oil. From Texas to Montana, Democrats locked in tight congressional races in Nov. 3’s general … Read more Democrats in U.S. drilling states push back against Biden oil remarks

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U.S. lawmakers complain to Trump over Mexican energy policy

By Anthony Esposito MEXICO CITY (Reuters) – More than 40 U.S. lawmakers have written a letter to President Donald Trump expressing concern that the Mexican government is threatening U.S. energy companies’ investments and market access, as well as undermining a regional trade deal. The letter, dated Oct. 22 and seen by Reuters on Friday, argued … Read more U.S. lawmakers complain to Trump over Mexican energy policy

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Electric-Car Mania Turns Battery Makers Into Power Brokers

By Dana Hull and Gabrielle Coppola Oct 23, 2020 (Bloomberg) Automakers are investing billions of dollars to bring new electric vehicles to consumers in the U.S. and other global markets, but their success hinges on securing the most critical and expensive component: the battery. A handful of companies based in China, Japan and South Korea make … Read more Electric-Car Mania Turns Battery Makers Into Power Brokers

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Alberta Ends OPEC-Style Curbs After Covid-Led Oil Sands Retreat

By Robert Tuttle Oct 23, 2020 (Bloomberg) Alberta’s two-year experiment with OPEC-style crude production curbs is coming to an end after a Covid-driven collapse in demand led the Canadian province’s battered oil-sands industry to idle more output than required. A cap on production that’s currently at 3.81 million barrels a day will no longer be in … Read more Alberta Ends OPEC-Style Curbs After Covid-Led Oil Sands Retreat

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Oil Drops Further With Libyan Output Set to Rise in Coming Weeks

By Alex Longley By Andres Guerra Luz Oct 23, 2020 (Bloomberg) Oil accelerated losses as a further increase in Libyan output threatens to return more supply back to a market that’s already grappling with a pandemic-induced slump in demand.Crude futures fell as much as 2.2% in New York, extending a weekly decline. Libya has lifted force … Read more Oil Drops Further With Libyan Output Set to Rise in Coming Weeks

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Analysis: U.S. Supreme Court’s rightward move could benefit oil and gas interests

WASHINGTON/NEW YORK (Reuters) – The addition of Amy Coney Barrett to the Supreme Court, moving it further rightward, could have significant consequences for U.S. climate change policy and complicate the government’s ability to regulate pollution, according to legal experts. The confirmation of President Donald Trump’s nominee in the Republican-led Senate, expected on Monday after the … Read more Analysis: U.S. Supreme Court’s rightward move could benefit oil and gas interests

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Biden win would lift Mexico-U.S. ties but energy is ‘canary in the mine’

By Dave Graham MEXICO CITY (Reuters) – A Joe Biden presidency would lower border tensions and raise pressure on Mexico to respect U.S. business interests as the two neighbors implement a trade deal designed to claw back jobs from China, officials and industry sources say. Biden on Nov. 3 aims to unseat President Donald Trump, … Read more Biden win would lift Mexico-U.S. ties but energy is ‘canary in the mine’

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Putin Says Russia Open to Delaying Planned OPEC+ Output Hike

By Ilya Arkhipov and Dina Khrennikova  Oct 23, 2020 (Bloomberg) Russia doesn’t rule out delaying scheduled production hikes by the OPEC+ alliance, President Vladimir Putin said, the latest sign the cartel could restrain crude output for longer as the pandemic crimps demand again.Production cuts are due to be eased — as part of a gradual tapering … Read more Putin Says Russia Open to Delaying Planned OPEC+ Output Hike

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Natural Gas Giant EQT to Pursue Takeover Of CNX Resources

By Ed Hammond, Kiel Porter and Gerson Freitas Jr.  Oct 23, 2020, (Bloomberg) EQT Corp., the biggest producer of U.S. natural gas, is seeking to acquire rival CNX Resources Corp., according to people familiar with the matter, as M&A accelerates in the distressed shale patch. EQT recently sent a takeover proposal to CNX Resources, said the … Read more Natural Gas Giant EQT to Pursue Takeover Of CNX Resources

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Laredo Petroleum Announces the Reaffirmation of the Company’s $725 Million Senior Secured Credit Facility Borrowing Base

  Purchases 2,758 Net Acres in Howard County October 22, 2020 | Source: Laredo Petroleum, Inc. TULSA, OK, Oct. 22, 2020 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced that the borrowing base of the Company’s Senior Secured Credit Facility was reaffirmed at $725 million in association with the semi-annual … Read more Laredo Petroleum Announces the Reaffirmation of the Company’s $725 Million Senior Secured Credit Facility Borrowing Base

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U.S. solar stocks rise on Biden’s clean energy focus in pre-election debate

By Reuters Staff (Reuters) – U.S. solar stocks rose on Friday after U.S. Democratic presidential candidate Joe Biden said in the final pre-election debate on Thursday night that if elected he plans to transition to a more climate-friendly economy. Shares of Renesola Ltd SOL.N, Jinkosolar Holding Co Ltd JKS.N, Canadian Solar Inc CSIQ.O and SunPower Corp SPWR.O were up between 2% … Read more U.S. solar stocks rise on Biden’s clean energy focus in pre-election debate

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Exxon Mobil ‘very close’ to disclosing U.S., Canada job cuts, says CEO

By Jennifer Hiller HOUSTON (Reuters) – Exxon Mobil Corp XOM.N is “very close” to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six … Read more Exxon Mobil ‘very close’ to disclosing U.S., Canada job cuts, says CEO

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Column: U.S. oil refineries slow as gasoline demand softens

gas pumps

By John Kemp LONDON (Reuters) – By restricting crude processing and focusing on making gasoline, U.S. petroleum refiners have made progress in reducing excess stocks of middle distillates such as diesel and heating oil. In the first half of October, however, the strategy has been challenged by softening domestic gasoline consumption, forcing them to make … Read more Column: U.S. oil refineries slow as gasoline demand softens

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U.S. shale mergers accelerate, as Pioneer-Parsley deal joins roster

By Jennifer Hiller, David French HOUSTON/NEW YORK (Reuters) – Consolidation in the U.S. shale industry is accelerating, ratcheting up pressure on oil and gas producers to gobble up smaller rivals, analysts and executives said. Pioneer Natural Resources Co, one of the largest independent shale operators, joined the ranks of dealmakers as it announced on Tuesday a … Read more U.S. shale mergers accelerate, as Pioneer-Parsley deal joins roster

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Martin Midstream Partners L.P. Announces Executive Leadership Changes

October 22, 2020| Source: Martin Midstream Partners L.P. Robert D. Bondurant Appointed to President and Chief Executive Officer effective January 1, 2021 Sharon Taylor Appointed to Vice President and Chief Financial Officer effective January 1, 2021 Ruben Martin to remain as Chairman of the Board KILGORE, Texas, Oct. 22, 2020 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (NASDAQ: … Read more Martin Midstream Partners L.P. Announces Executive Leadership Changes

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Here’s Why Biden Couldn’t Ban Fracking, But Could Restrict It

By Ari Natter Oct 21, 2020 (Bloomberg) Fracking has emerged as a hot button issue of the 2020 election, with President Donald Trump claiming his political rival will cripple the economy in politically important states such as Pennsylvania by putting an end to the well extraction technique, despite Joe Biden’s assertions to the contrary.There’s good reason … Read more Here’s Why Biden Couldn’t Ban Fracking, But Could Restrict It

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Oil Rises Near $40 a Barrel After Biggest Decline in Two Weeks

Oil Pump

By Elizabeth Low and Alex Longley  Oct 22, 2020 (Bloomberg) Oil rose near $40 a barrel in New York after the biggest drop in two weeks on Wednesday following a surprise jump in U.S. gasoline stockpiles and slowing demand. Motor fuel inventories last week rose the most since May and a measure of the fuel’s consumption … Read more Oil Rises Near $40 a Barrel After Biggest Decline in Two Weeks

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Heavy Oil Scarcity to Boost Canadian Oil-Sands Prices Next Year

By Robert Tuttle Oct 22, 2020 (Bloomberg) Canadian oil prices are poised to strengthen next year as Mexican heavy crude exports to U.S. Gulf Coast refineries dwindle, according to BMO Capital Markets.Heavy Western Canadian Select’s discount to the West Texas Intermediate benchmark could narrow to $5 to $7 a barrel next year, BMO said in a … Read more Heavy Oil Scarcity to Boost Canadian Oil-Sands Prices Next Year

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Japan to Use Wind, Batteries to Meet Lofty 2050 Carbon Goal

By Aya Takada and Stephen Stapczynski  Oct 22, 2020, (Bloomberg) Japan will promote the use of offshore wind generation and battery storage in its new effort to become carbon neutral by 2050, according to a government official, indicating how the nation might change its policies to meet the ambitious goal.The world’s fifth-biggest greenhouse gas emitter, which … Read more Japan to Use Wind, Batteries to Meet Lofty 2050 Carbon Goal

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French Utility Delays Decision on Buying $7 Billion of U.S. LNG

By Francois de Beaupuy Oct 22, 2020, (Bloomberg) One of France’s biggest energy companies has delayed a decision on a $7 billion deal to import liquefied natural gas from the U.S. after pressure from the government in Paris to seek cleaner supplies of the fuel. Engie SA said it has postponed work on a contract to … Read more French Utility Delays Decision on Buying $7 Billion of U.S. LNG

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Valero posts quarterly loss on demand slump, lowers investment budget

By Reuters Staff (Reuters) – Valero Energy Corp VLO.N reported a second consecutive quarter of adjusted loss on Thursday and cut its investment budget for the year as the COVID-19 pandemic ravaged demand for fuels. Oil refiners around the world have been forced to cut production, reeling from months of lackluster demand as the coronavirus lockdowns destroyed … Read more Valero posts quarterly loss on demand slump, lowers investment budget

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Kinder Morgan profit falls as pandemic hits demand for refined products

Pipeline

By Reuters Staff (Reuters) – U.S. pipeline operator Kinder Morgan Inc KMI.N reported a 10% drop in quarterly profit on Wednesday as a steep fall in energy demand due to the coronavirus crisis led to lower shipments of refined products and natural gas. A pandemic-driven drop in energy demand has freed up some capacity at pipeline companies, … Read more Kinder Morgan profit falls as pandemic hits demand for refined products

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U.S. crude exports likely to be muted through 2020 as production slides

By Devika Krishna Kumar, Laila Kearney NEW YORK (Reuters) – U.S. crude oil exports are expected to sputter through the end of 2020 due to weak production and unfavorable economics for foreign buyers of U.S. oil, traders and analysts said. U.S. oil demand is down about 13% from last year due to the coronavirus pandemic. Exports … Read more U.S. crude exports likely to be muted through 2020 as production slides

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Tribes make new move to shut down Dakota Access Pipeline

October 20, 2020 BISMARCK, N.D. — Native American tribes opposed to the Dakota Access Pipeline once again have asked a federal judge to stop the flow of oil while the legal battle over the line’s future plays out. The Standing Rock Sioux and other tribes succeeded on their first attempt, only to have an appeals … Read more Tribes make new move to shut down Dakota Access Pipeline

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Biden presidency could cut slow path to resumed Iran, Venezuela oil exports

By Timothy Gardner, Marianna Parraga, Bozorgmehr Sharafedin WASHINGTON/MEXICO CITY/LONDON (Reuters) – Democratic U.S. presidential hopeful Joe Biden’s promised return to diplomacy with OPEC-members Iran and Venezuela could cut a path for a return of their oil exports should he win, but not before many months at least of verifications, talks and deal-making. The timing of a potential … Read more Biden presidency could cut slow path to resumed Iran, Venezuela oil exports

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Satellites Put the World’s Biggest Methane Emitters on the Map

By Naureen Malik Oct 21, 2020 (Bloomberg) Orange and yellow pixels flash over American drilling heartlands around the Gulf Coast, New Mexico, and Pennsylvania. Dark red stretches across Middle East and China, while disturbing dots of color pop up around Greenland’s coast. This is the dangerous world of atmospheric methane emissions, one of the most powerful drivers of global … Read more Satellites Put the World’s Biggest Methane Emitters on the Map

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Oil Falls After Report Shows Surprise U.S. Crude Stockpile Gain

By Rakteem Katakey and Elizabeth Low  Oct 21, 2020 (Bloomberg) Oil dropped after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a potential U.S. stimulus agreement. The American Petroleum Institute reported crude inventories climbed by almost 600,000 barrels last week, according to people familiar with the data. That contrasts … Read more Oil Falls After Report Shows Surprise U.S. Crude Stockpile Gain

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Texas Oil Deal Must Navigate Potential Father-Son Conflict

By David Wethe and Kevin Crowley Oct 21, 2020 (Bloomberg) The latest merger between two U.S. shale producers is dealing with an unusual family dynamic that has raised concerns about a potential conflict of interest.Pioneer Natural Resources Co. said Tuesday it agreed to buy rival Parsley Energy Inc. for $4.5 billion in stock. Pioneer is run by Scott … Read more Texas Oil Deal Must Navigate Potential Father-Son Conflict

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Suncor Studies Sale of North Sea Oil and Gas Fields

By Laura Hurst and Dinesh Nair Oct 21, 2020 (Bloomberg) Canada’s Suncor Energy Inc. is exploring the sale of a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter.Suncor is studying divesting the 30,000-barrel-a-day Golden Eagle Area on the U.K. side of the sea, the people said. … Read more Suncor Studies Sale of North Sea Oil and Gas Fields

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Russia’s Novak says premature to talk about OPEC+ deal beyond 2020

By Reuters Staff MOSCOW (Reuters) – Russian Energy Minister Alexander Novak said on Tuesday it was too early to discuss the future of the global oil output cuts deal by the OPEC+ group beyond December 2020. In comments to Reuters made via the Energy Ministry’s press service, he said “we need to understand” how the … Read more Russia’s Novak says premature to talk about OPEC+ deal beyond 2020

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Baker Hughes posts third straight quarterly loss as demand still hurt

By Liz Hampton, Arathy S Nair (Reuters) – Baker Hughes Co BKR.N reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services. Producers have been drilling fewer wells following a collapse in crude oil prices this year as demand for oil products has … Read more Baker Hughes posts third straight quarterly loss as demand still hurt

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U.S. crude stocks up; gasoline, distillate inventories fall: API

Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, compared with analysts’ expectations in a Reuters poll for a draw of 1 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.2 million barrels, API said. Refinery crude runs fell by 197,000 barrels per … Read more U.S. crude stocks up; gasoline, distillate inventories fall: API

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Martin Midstream Partners Reports Third Quarter 2020 Financial Results and Declares Quarterly Cash Distribution

October 21, 2020  | Source: Martin Midstream Partners L.P. Financial performance exceeds expectations in challenging environment Reported net loss of $10.8 million and $4.2 million for the three and nine months ended September 30, 2020, respectively, which were negatively impacted by an $8.5 million charge related to the exchange of our senior notes Reported adjusted EBITDA … Read more Martin Midstream Partners Reports Third Quarter 2020 Financial Results and Declares Quarterly Cash Distribution

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Reports of Shale’s Death Were Greatly Exaggerated: David Fickling

By David Fickling Oct 20, 2020 (Bloomberg Opinion) Remember seven months ago, when a three-way supply war between Saudi Arabia, Russia and the U.S. was about to deal a mortal blow to America’s shale oil industry? Whatever happened with that?All the evidence of late is that there’s life in the oil patch yet. Production from Texas’s Permian … Read more Reports of Shale’s Death Were Greatly Exaggerated: David Fickling

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Gemini Fabrication Teams Up with Hive Innovations for Green Shirt Day 2020

Gemini-Feature-Logo-400x270

Gemini Fabrication has teamed up with HIVE Innovations for our first annual Green Shirt Day initiative. The purpose of our Green Shirt Day initiative is to team up with willing partners and engage in our community in a meaningful way while encouraging environmental mindfulness. 2020 has been a year of curveballs and new challenges; which of course means … Read more Gemini Fabrication Teams Up with Hive Innovations for Green Shirt Day 2020

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Canada’s Alberta gives struggling oil and gas drillers municipal tax break

By Rod Nickel WINNIPEG, Manitoba (Reuters) – Struggling oil and gas companies in the Canadian province of Alberta will get a three-year break on municipal property taxes for land where they are drilling wells or building pipelines, the provincial government said on Monday. The Alberta government said it would also lower property tax assessments on … Read more Canada’s Alberta gives struggling oil and gas drillers municipal tax break

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Cut-Price Deals Show Shale’s Rapid Decline From Debt-Fueled Boom

By Kevin Crowley and David Wethe  Oct 20, 2020 (Bloomberg) There is no more dramatic sign of the U.S. shale industry’s fall from grace than one of the best in the business being sold off for less than a third of its peak value. Concho Resources Inc., an early explorer of the Permian Basin’s once-coveted oil … Read more Cut-Price Deals Show Shale’s Rapid Decline From Debt-Fueled Boom

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Markets Are Divesting You From Fossil Fuels: Nathaniel Bullard

By Nathaniel Bullard Oct 20, 2020 (Bloomberg Markets) One of the oldest components of the Dow Jones Industrial Average disappeared from the popular market benchmark at the end of August. ExxonMobil Corp., a member since 1928 (when it was Standard Oil of New Jersey) and the world’s most valuable company as recently as 2011, had fallen in value … Read more Markets Are Divesting You From Fossil Fuels: Nathaniel Bullard

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Oil Slides With OPEC+ Warning of Precarious Market Outlook

By Elizabeth Low and Grant Smith Oct 20, 2020 (Bloomberg) Oil extended declines as OPEC+ warned of a precarious outlook for the market while a resurgent virus hits consumption. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, speaking at the coalition’s committee meeting on Monday, called on the group to be proactive in the face of uncertain … Read more Oil Slides With OPEC+ Warning of Precarious Market Outlook

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Worried about weak oil demand, OPEC pledges action

By Alex Lawler, Ahmad Ghaddar, Vladimir Soldatkin LONDON/MOSCOW/DUBAI (Reuters) – OPEC and allied producers on Monday pledged action to support the oil market as concerns mounted that a second wave of the COVID-19 pandemic will hobble demand and an earlier plan to raise output from next year would further depress prices. Saudi Arabia, the biggest member of … Read more Worried about weak oil demand, OPEC pledges action

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Losing control? Norway’s oil workers fear for future as rigs go remote

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By Nerijus Adomaitis OSLO (Reuters) – A shift to operating oil rigs remotely from land, which has been accelerated by lower crude prices, has rekindled concerns among Norwegian unions over the impact on the safety of offshore workers and the loss of well-paid jobs. These fears were highlighted by Lederne, one of three unions representing … Read more Losing control? Norway’s oil workers fear for future as rigs go remote

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COMMENTARY: Joe Biden Would Be a Sea Change For the Oil Industry: Julian Lee

By Julian Lee Oct 17, 2020, (Bloomberg Opinion) I don’t know who’ll prevail in the U.S. election. But one thing we can probably all agree on is that incumbent leader President Donald Trump has had an extraordinary impact on the global oil market. From crippling the oil exports of Iran and Venezuela to taking credit for brokering the biggest-ever voluntary … Read more COMMENTARY: Joe Biden Would Be a Sea Change For the Oil Industry: Julian Lee

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Is Green Energy A Luxury Good? – Geoffrey Cann

By Geoffrey Cann Is green energy a luxury good? My spouse made this startling observation and I think she might be onto something. Here’s why. WHAT MAKES A LUXURY GOOD A LUXURY GOOD? What she actually said was “it’s a luxury to be a greenie”, while observing yet another Tesla on a recent highway excursion. I get that. My … Read more Is Green Energy A Luxury Good? – Geoffrey Cann

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Cheaper Renewable Power May Drive Economic Recovery, Lazard Says

By Naureen S. Malik Oct 19, 2020 (Bloomberg) Wind and solar power have become even cheaper compared to fossil fuels in the past year, making them an attractive way to stimulate economies recovering from the Covid-19 pandemic, according to Lazard Ltd. Without subsidies, the cost of energy from onshore wind has fallen to as low as … Read more Cheaper Renewable Power May Drive Economic Recovery, Lazard Says

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World’s Biggest Fracker Sees Signs of Rebirth as Slump Ebbs

By David Wethe Oct 19, 2020 (Bloomberg) Halliburton Co. expects the rout in North American shale to peter out after history’s worst crude crash decimated many of its customers. The world’s biggest provider of fracking signaled that attrition among oilfield service companies is beginning to show results and, in North America at least, a bottom may … Read more World’s Biggest Fracker Sees Signs of Rebirth as Slump Ebbs

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Oil Slips Near $41 Before OPEC+ Meets to Assess State of Market

Oil Pump

By Alex Longley and Elizabeth Low Oct 19, 2020 (Bloomberg)  The Joint Ministerial Monitoring Committee, which typically reviews compliance with the group’s pledged output cuts, will meet online Monday. While no supply decisions are expected until the conclusion of a two-day gathering on Dec. 1, leading members Saudi Arabia and Russia have stepped up diplomacy in … Read more Oil Slips Near $41 Before OPEC+ Meets to Assess State of Market

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Facing wave of closures, oil refiners turn to biofuels

Refinery

By Ron Bousso, Laura Sanicola LONDON/NEW YORK (Reuters) – European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative – converting plants to produce biofuels. The shock of the coronavirus epidemic crushed global oil demand and … Read more Facing wave of closures, oil refiners turn to biofuels

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Halliburton posts fourth straight quarterly loss as oil rout drags demand

By Shariq Khan, Liz Hampton Halliburton, the largest hydraulic fracturing provider in the U.S., still beat analyst estimates, earning 11 cents a share versus expectations of 8 cents per share. The Houston, Texas-based company has undertaken aggressive cost-cutting measures, including cutting thousands of jobs. Oil prices have recouped some of their losses from the historic lows … Read more Halliburton posts fourth straight quarterly loss as oil rout drags demand

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ConocoPhillips to buy Concho Resources for $9.7 billion in 2020’s top shale deal

By Reuters Staff (Reuters) – ConocoPhillips COP.N said on Monday it will buy Permian-focused driller Concho Resources Inc CXO.N for $9.7 billion, the largest shale deal this year as oil and gas producers turn to consolidation to survive a slowdown in oil prices and demand. The all-stock deal comes as U.S. shale companies have posted big losses due to … Read more ConocoPhillips to buy Concho Resources for $9.7 billion in 2020’s top shale deal

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Minnesota judge upholds state decision on Enbridge Line 3 pipeline replacement

Oct 16 (Reuters) – A Minnesota judge on Friday ruled that the state’s pollution regulator and Enbridge Inc used proper methods for water crossing for its Line 3 oil pipeline replacement, clearing another hurdle for the project that has faced years of delay. Judge James LaFave upheld the draft water quality certificate that Minnesota Pollution … Read more Minnesota judge upholds state decision on Enbridge Line 3 pipeline replacement

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WEBINAR: Refining and Petrochemicals Energy Transition – By Becht on November 5, 2020

WHEN Thu, Nov 5, 2020 8:00 AM – 9:00 AM MST WHY In this 1-hour webinar, the attendee will: Gain insight into the potential impacts of global energy trends on Refining and Petrochemicals Recognize regionally specific challenges and new comprehensive business considerations Appreciate the magnitude of change that energy transition brings and the required adjustments … Read more WEBINAR: Refining and Petrochemicals Energy Transition – By Becht on November 5, 2020

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U.S. oil and gas rig count rises by most since January – Baker Hughes

By Scott DiSavin Oct 16 (Reuters) – U.S. energy firms this week added the most oil and natural gas rigs since January as producers return to the wellpad with crude prices holding around $40 a barrel over the past several months. The oil and gas rig count, an early indicator of future output, rose for … Read more U.S. oil and gas rig count rises by most since January – Baker Hughes

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Biden Won’t Ban Fracking, But His Clean Grid Would Choke Gas

By Will Wade, Gerson Freitas Jr. and Jennifer A. Dlouhy Oct 17, 2020 (Bloomberg) During a town hall meeting Thursday, Democratic presidential nominee Joe Biden again assured shale producers that he wouldn’t ban fracking if elected. Then, in virtually the same breath, he touted his $2 trillion clean-energy plan, which aims to edge natural gas out … Read more Biden Won’t Ban Fracking, But His Clean Grid Would Choke Gas

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OPEC+ Faces Growing Pressure to Change Course as Ministers Meet

By Grant Smith and Javier Blas (Bloomberg) When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer. The coalition of crude producers gathers on Monday to assess the … Read more OPEC+ Faces Growing Pressure to Change Course as Ministers Meet

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Risk Matters: Prevent Critical Equipment Failures & Catastrophe

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Did you know there are millions of pieces of equipment in any process facility? Sometimes there are tens of millions or more. For the asset integrity and maintenance professionals who are tasked with keeping everything running smoothly, it’s a mammoth job and while perfection may be attainable, it’s far from simple to achieve. To add … Read more Risk Matters: Prevent Critical Equipment Failures & Catastrophe

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Putin and Saudi crown prince discuss OPEC+ agreements and coronavirus

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By Reuters Staff MOSCOW (Reuters) – Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed energy markets and the implementation of agreements by the oil producers group known as OPEC+, the Kremlin said in a statement on Saturday. “Both sides have reiterated their willingness to continue close coordination in this area in … Read more Putin and Saudi crown prince discuss OPEC+ agreements and coronavirus

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Oil Ekes Out Weekly Gain Even as Resurgence Threatens Demand

By Andres Guerra Luz Oct 16, 2020 (Bloomberg) Oil posted a small weekly gain on tentative signs that demand is picking up even as a new wave of coronavirus cases casts a shadow over the market.Futures in New York edged lower on Friday, but still managed to record an advance of 0.7% this week on shrinking … Read more Oil Ekes Out Weekly Gain Even as Resurgence Threatens Demand

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OPEC+ fears second virus wave could lead to oil surplus in 2021

By Vladimir Soldatkin MOSCOW (Reuters) – OPEC and its allies fear a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a gloomier outlook than just a month ago. A panel of officials from … Read more OPEC+ fears second virus wave could lead to oil surplus in 2021

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WATCH: How has your organization adjusted to our new world? Accelerate your digital adoption strategy

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VEERUM delivers a modern solution to your organization’s business continuity needs with current digital tools, enabling remote collaboration. The Asset Visualization and Information Platform acts as a collaboration platform, a digital system of record for the entire asset lifecycle, and displays real-time asset information for decision making. VEERUM aggregates your existing asset information into a … Read more WATCH: How has your organization adjusted to our new world? Accelerate your digital adoption strategy

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Illinois approves expansion of Dakota Access oil pipeline

By Reuters Staff NEW YORK (Reuters) – Illinois regulators late on Wednesday approved an expansion of the Dakota Access oil pipeline, the largest pipeline running out of North Dakota’s Bakken shale basin, rejecting a bid by environmental groups to block the project. The Dakota Access Pipeline can transport about 570,000 barrels per day (bpd) of … Read more Illinois approves expansion of Dakota Access oil pipeline

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U.S. energy secretary cuts short Midwest trip after aides test positive for COVID-19

By Reuters Staff WASHINGTON (Reuters) – U.S. Energy Secretary Dan Brouillette was returning to Washington on Friday, cutting short a trip to the Midwest after two of his security aides tested positive for the coronavirus, a Department of Energy spokeswoman said. Brouillette’s COVID-19 test results have been negative and he is not exhibiting any symptoms … Read more U.S. energy secretary cuts short Midwest trip after aides test positive for COVID-19

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Oil Slips Near $41 With Virus Curbs Dampening Demand Hopes

By Sharon Cho and Alex Longley Oct 16, 2020 (Bloomberg) Oil dipped as the prospect of a resurgent virus, forcing more stay-at-home measures in Europe and the U.S., was weighed against signs of improved demand from China and India this week.Futures in New York dropped 0.5% Friday, paring earlier losses as the dollar erased gains. Covid-19 is … Read more Oil Slips Near $41 With Virus Curbs Dampening Demand Hopes

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Schlumberger posts third straight quarterly loss as oil rout hits services demand

Schlumberger

By Shariq Khan, Liz Hampton (Reuters) – Top oilfield services provider Schlumberger NV SLB.N on Friday posted its third straight quarterly loss as this year’s prolonged slump in oil prices due to the COVID-19 pandemic compelled its major energy customers to shun drilling. The company kicked off earnings from hard-hit U.S. oilfield service providers as new lockdowns … Read more Schlumberger posts third straight quarterly loss as oil rout hits services demand

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U.S. oil majors pitch more campaign cash to Democrats as frack battle looms

By Liz Hampton (Reuters) – The two largest U.S. energy firms, Chevron Corp CVX.N and Exxon Mobil Corp XOM.N, have increased their share of campaign donations to Democrats this year, according to latest filings, amid a looming battle over fracking. The vast majority, 85% of all oil and gas donations this election, have flowed on behalf of U.S. … Read more U.S. oil majors pitch more campaign cash to Democrats as frack battle looms

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IGNITE YOUR DIGITAL MARKETING – Generate Up to 10X More Sales Leads from Your Digital Content & Advertising With LeadiD

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WE HELP GENERATE QUALIFIED SALES LEADS FROM YOUR DIGITAL CONTENT AND ADVERTISING ON ENERGYNOW Lead generation and nurturing is the #1 business development activity and challenge which most companies face. Are you experiencing this challenge or problem as well? If YES, please read on! Many companies struggle to generate qualified sales leads which makes it … Read more IGNITE YOUR DIGITAL MARKETING – Generate Up to 10X More Sales Leads from Your Digital Content & Advertising With LeadiD

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Trump administration sets Gulf of Mexico drilling auction for Nov. 18

By Reuters Staff (Reuters) – The Trump administration on Thursday said it would offer all available areas in the Gulf of Mexico for auction to oil and gas drillers on Nov. 18, the first major test of the offshore sector’s appetite for investment since early this year. The sale is the federal government’s first offshore … Read more Trump administration sets Gulf of Mexico drilling auction for Nov. 18

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U.S. Oil Production Has Already Passed Its Peak, Occidental Says

By Kevin Crowley October 14, 2020 Lost output due to Covid-19 too hard to claw back, CEO says Oil demand seen growing in long term, but only after a vaccine America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, … Read more U.S. Oil Production Has Already Passed Its Peak, Occidental Says

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IEA says oil producers may struggle to gauge demand amid second wave

By Noah Browning LONDON (Reuters) – Global oil stocks which rose during the height of the pandemic are being steadily reduced, the International Energy Agency (IEA) said on Wednesday, but a second wave is slowing demand and will complicate efforts by producers to balance the market OPEC+ producers – OPEC members and others including Russia … Read more IEA says oil producers may struggle to gauge demand amid second wave

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Oil Falls Back Below $41 With Dollar’s Gain, Weaker Stock Market

By Sharon Cho and Alex Longley  Oct 15, 2020 (Bloomberg) Oil dipped below $41 a barrel as the dollar gained and European stock markets slumped.Futures in New York dropped 1.4%, after rising on Wednesday. Equities slid in Europe after corporate earnings failed to re-ignite rallies and prospects wilted for new stimulus from Washington before the November election. Paris … Read more Oil Falls Back Below $41 With Dollar’s Gain, Weaker Stock Market

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Energy Demand to Receive a Work-From-Home Boost This Winter

By Stephen Stapczynski and Javier Blas Oct 15, 2020 (Bloomberg) “Get yours before they go,” says the headline on a home improvement article dedicated to the hottest housing trends. The must-have item? A patio heater. With winter in the northern hemisphere fast approaching, the Covid-19 pandemic is prompting families to buy outdoor heaters. Restaurants and bars … Read more Energy Demand to Receive a Work-From-Home Boost This Winter

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U.S. crude, fuel stocks drop in most recent week: API

By Reuters Staff (Reuters) – U.S. crude oil and fuel stocks fell last week, data from industry group the American Petroleum Institute showed on Wednesday. Crude inventories fell by 5.4 million barrels in the week to Oct. 9 to about 495.4 million barrels, compared with analysts’ expectations in a Reuters poll for a draw of … Read more U.S. crude, fuel stocks drop in most recent week: API

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BP raises $500 million from sale of UK petrol station leases

By Ron Bousso LONDON (Reuters) – BP BP.L has raised £400 million ($517 million) from the sale of a stake in land leases of 199 British petrol stations to a UK pension fund. The Universities Superannuation Scheme (USS) acquired a 49% of the freehold leases, USS said in a statement dated Oct. 7. BP will hold the … Read more BP raises $500 million from sale of UK petrol station leases

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OPEC+ will ensure oil prices do not plunge again, says OPEC chief

By Ahmad Ghaddar, Alex Lawler LONDON – The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC’s Secretary General said on Thursday, adding that demand has been recovering more slowly than expected. “I want to assure you that the OPEC, non-OPEC partnership … Read more OPEC+ will ensure oil prices do not plunge again, says OPEC chief

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Chaparral Energy Successfully Completes Financial Restructuring and Raises $35 Million in New Capital

October 14, 2020  | Source: Chaparral Energy Inc OKLAHOMA CITY, Oct. 14, 2020 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (the “Company” or “Chaparral”) announced today that it successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC filing company. Through the efficient execution of its pre-packaged plan of reorganization, which received broad … Read more Chaparral Energy Successfully Completes Financial Restructuring and Raises $35 Million in New Capital

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OPEC+ Oil Boost to Leave Market in Precarious Balance, IEA Says

By Grant Smith Oct 14, 2020 (Bloomberg)The outlook for oil “remains fragile” as the pandemic depresses demand, and OPEC’s plans to increase supply next year will leave global markets precariously balanced, the International Energy Agency said. “There is a risk that the demand recovery is stalled by the recent increase in Covid-19 cases in many … Read more OPEC+ Oil Boost to Leave Market in Precarious Balance, IEA Says

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Oil Rises With Dollar’s Decline, Reversing Earlier Drop

By Sharon Cho and Alex Longley Oct 14, 2020 (Bloomberg) Oil rose, reversing an earlier decline, as the dollar weakened. Crude futures gained 1.6% in New York. They earlier fell 1% as the International Energy Agency warned of a fragile market outlook and Russia indicated OPEC+ may stick with current plans to lift production starting January. Along with … Read more Oil Rises With Dollar’s Decline, Reversing Earlier Drop

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Trump Hits Biden on Fracking in Appeal to Pennsylvania Voters

Donald Trump

By Jordan Fabian and Mario Parker  Oct 13, 2020 (Bloomberg) Donald Trump accused Democratic candidate Joe Biden of wanting to cripple natural gas drilling in Pennsylvania during the president’s first visit to the battleground state since recovering from Covid-19. Trump said during a Tuesday evening campaign rally in Johnstown that Biden would abolish hydraulic fracturing, or … Read more Trump Hits Biden on Fracking in Appeal to Pennsylvania Voters

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Israel’s OPC to Invest $200 Million in U.S. Solar Projects

Solar panel

By Yaacov Benmeleh Oct 14, 2020 (Bloomberg) Israel’s OPC Energy Ltd. will invest nearly $200 million in the “rapid growth” of a recently-acquired renewable energy business in the U.S., according to its chief executive officer.The firm expects half the solar projects developed by Competitive Power Ventures, which an OPC-led group agreed to buy for $630 million … Read more Israel’s OPC to Invest $200 Million in U.S. Solar Projects

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PG&E May Cut Power to 162,000 Californians for Days

By Mark Chediak  Oct 14, 2020 (Bloomberg) PG&E Corp. is preparing to cut the lights to 162,000 Californians in 24 counties in its latest effort to keep strong winds from knocking down live wires and igniting wildfires. PG&E will make a final decision on the outages Wednesday morning, with the first customers expected to go dark … Read more PG&E May Cut Power to 162,000 Californians for Days

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Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Provides Third Quarter 2020 Operational Update

October 13, 2020 | Source: Viper Energy Partners LP MIDLAND, Texas, Oct. 13, 2020 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ: VNOM) (“Viper” or the “Company”) today provided an operational update for the third quarter ended September 30, 2020. THIRD QUARTER 2020 UPDATE Q3 2020 average production of 15,829 bo/d (26,409 boe/d) Q3 2020 hedged realized prices of … Read more Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Provides Third Quarter 2020 Operational Update

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Diamondback Energy, Inc. Provides Third Quarter Update

October 13, 2020  | Source: Diamondback Energy, Inc. MIDLAND, Texas, Oct. 13, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today provided an operational update for the third quarter of 2020. HIGHLIGHTS Q3 2020 average production of 170.0 MBO/d (287.3 MBOE/d) Q3 2020 average realized hedged prices of $38.17 per barrel … Read more Diamondback Energy, Inc. Provides Third Quarter Update

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Centennial Resource Development Announces Reaffirmation of Borrowing Base and Improvement to Liquidity Position

October 13, 2020  | Source: Centennial Resource Development DENVER, Oct. 13, 2020 (GLOBE NEWSWIRE) — Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that its bank group, led by JPMorgan Chase Bank, N.A., has reaffirmed the Company’s $700 million borrowing base. As a result, given a reduction in revolver borrowings and outstanding … Read more Centennial Resource Development Announces Reaffirmation of Borrowing Base and Improvement to Liquidity Position

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Normalization of Deviance Costs Lives

By: Rick Hoffman Space Shuttle Challenger Many of us can remember exactly where we were at 11:39 AM EST on January 28, 1986. That was when the Space Shuttle Challenger failed in flight killing all seven crew members. Normalization of Deviance was a major factor in the Challenger shuttle disaster. Normalization of Deviance is when … Read more Normalization of Deviance Costs Lives

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ConocoPhillips in Talks to Buy Concho Resources in Big Shale Bet

By Ed Hammond, Kiel Porter and Scott Deveau Oct 14, 2020 (Bloomberg) ConocoPhillips is in talks to acquire rival Concho Resources Inc., according to people familiar with the matter, as one of America’s largest independent oil explorers looks to make a bold bet on shale during an historic industry downturn. The companies may announce a deal … Read more ConocoPhillips in Talks to Buy Concho Resources in Big Shale Bet

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OPEC cuts 2021 oil demand forecast again as virus cases rise

By Alex Lawler LONDON (Reuters) – World oil demand will rebound more slowly in 2021 than previously thought as coronavirus cases rise, OPEC said on Tuesday, adding to headwinds faced by the group and its allies in balancing the market. Demand will rise by 6.54 million barrels per day(bpd) next year to 96.84 million bpd, … Read more OPEC cuts 2021 oil demand forecast again as virus cases rise

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Putin, Saudi crown prince discuss energy markets – Kremlin

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By Reuters Staff MOSCOW (Reuters) – Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed the current situation in the energy markets during a telephone call, the Kremlin said in a statement on Tuesday. During the call, they stressed the importance of continuing joint work, including in the OPEC+ format, the Kremlin … Read more Putin, Saudi crown prince discuss energy markets – Kremlin

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U.S. shale oil output to drop 123,000 bpd to 7.69 million bpd in November: EIA

OCTOBER 13, 2020 By Reuters Staff NEW YORK (Reuters) – U.S. shale oil output is expected to decline by 123,000 barrels per day (bpd) in November, the biggest drop since May, to about 7.69 million bpd, the U.S. Energy Information Administration (EIA) said in a monthly forecast on Tuesday. Overall output is expected to drop for … Read more U.S. shale oil output to drop 123,000 bpd to 7.69 million bpd in November: EIA

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Precise Delivers FULLY AUTOMATED Tank Cleaning Spread to Cascade Energy Services – See the Automated Spread HERE:

  Precise Tank Cleaning Tools is pleased to congratulate Cascade Energy Services L.P. on the delivery of their new fully automated tank cleaning spread.  Their automated spread consists of A.  Live Action Sweeps  B. Cannons C. Hydraulic Power Unit and D. Control Cab The Precise Tank Cleaning Spread Offers the following advantages: Superior technological understanding … Read more Precise Delivers FULLY AUTOMATED Tank Cleaning Spread to Cascade Energy Services – See the Automated Spread HERE:

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OPEC cuts 2021 oil demand forecast again as virus cases rise

By Alex Lawler LONDON (Reuters) – World oil demand will rebound more slowly in 2021 than previously thought as coronavirus cases rise, OPEC said on Tuesday, adding to headwinds faced by the group and its allies in balancing the market. Demand will rise by 6.54 million barrels per day(bpd) next year to 96.84 million bpd, … Read more OPEC cuts 2021 oil demand forecast again as virus cases rise

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Saudi Aramco and BlackRock, others, discussing deal worth over $10 billion: sources

By Davide Barbuscia, Hadeel Al Sayegh DUBAI (Reuters) – Saudi Aramco 2222.SE is in talks with BlackRock BLK.N and other investors on a planned deal worth over $10 billion to sell a stake in its pipeline business, sources said. The deal, internally dubbed “Project Seek”, is still in its initial phase and there is no formal decision on the … Read more Saudi Aramco and BlackRock, others, discussing deal worth over $10 billion: sources

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Oil Rises Near $40 After Recovery in Chinese Crude Imports

By Sharon Cho and Alex Longley  Oct 13, 2020 (Bloomberg) Oil edged higher as data showed Chinese crude imports rose last month.Futures in New York rose around 1.3% toward $40 a barrel. Chinese crude imports climbed 2.1% in September from August, the General Administration of Customs said Tuesday, in a positive sign for global demand. Buying … Read more Oil Rises Near $40 After Recovery in Chinese Crude Imports

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Pandemic could delay energy demand recovery to 2025

LONDON (Reuters) – A slow economic recovery from the pandemic threatens to delay a full rebound in world energy demand to 2025, the International Energy Agency said on Tuesday. In its central scenario, a vaccine and therapeutics could mean the global economy rebounds in 2021 and energy demand recovers by 2023, the IEA, which advises … Read more Pandemic could delay energy demand recovery to 2025

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Solar the new ‘king of electricity’ as renewables make up bigger slice of supply: IEA

By Forrest Crellin PARIS (Reuters) – Solar output is expected to lead a surge in renewable power supply in the next decade, the International Energy Agency said, with renewables seen accounting for 80% of growth in global electricity generation under current conditions In its annual World Energy Outlook on Tuesday, the IEA said in its … Read more Solar the new ‘king of electricity’ as renewables make up bigger slice of supply: IEA

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Devon Energy Releases 2020 Sustainability Report Highlighting Emissions and Flaring Reductions, Crisis Management, Conservation and Community Partnerships

October 12, 2020  | Source: Devon Energy Corporation OKLAHOMA CITY, Oct. 12, 2020 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) today released its 2020 Sustainability Report which highlights the company’s performance and efforts related to emissions and flaring reductions, environment preservation, pandemic and crisis management, employee empowerment and community investment. “At Devon we are providing … Read more Devon Energy Releases 2020 Sustainability Report Highlighting Emissions and Flaring Reductions, Crisis Management, Conservation and Community Partnerships

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Flipping the Barrel Podcast – Boys will be Boys… with Karen Olson, the Frac Queen.

Karen started in oil and gas back in the 80’s where women were few and far between. Throughout her 36-year career she has been faced with many trials and tribulations. When she decided to pursue Petroleum Engineering at LSU, she was approached by her professor with concern, he told her: “Women do not belong in … Read more Flipping the Barrel Podcast – Boys will be Boys… with Karen Olson, the Frac Queen.

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IEA nudges up 2020 gas demand forecast, but still sees record fall

OSLO (Reuters) – The International Energy Agency (IEA) has nudged up its global gas demand forecast for this year, but still sees the biggest fall on record due to the impact of the COVID-19 pandemic. The Paris-based agency said on Monday it now expected gas demand to drop by 3% year-on-year, or 120 billion cubic … Read more IEA nudges up 2020 gas demand forecast, but still sees record fall

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Trump Pushes to Cut Solar-Tariff Loophole for Two-Sided Panels

By Brian Eckhouse Oct 11, 2020, (Bloomberg) President Donald Trump said in a proclamation that it’s necessary to eliminate a loophole his administration granted in 2019 that’s helped solar developers avoid tariffs on certain imported panels. In Saturday’s proclamation, Trump said it’s necessary to revoke the exemption for two-sided “bifacial” panels, contending that the loophole has “impaired … Read more Trump Pushes to Cut Solar-Tariff Loophole for Two-Sided Panels

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China Aims to Cut All Greenhouses Gases by 2060, Researcher Says

By Bloomberg News Oct 12, 2020 (Bloomberg) China’s pledge to be carbon neutral by 2060 includes all greenhouses gases, not just carbon dioxide, according to one of the country’s top climate researchers. He Jiankun, who chairs the academic committee at the Institute of Climate Change and Sustainable Development at Tsinghua University, made the clarification at a … Read more China Aims to Cut All Greenhouses Gases by 2060, Researcher Says

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Oil Falls Near $40 With Supply Constraints Beginning to Ease

By Alex Longley Oct 12, 2020 (Bloomberg) —Oil dropped for a second day as operations in the U.S. Gulf of Mexico started to resume following Hurricane Delta making landfall and Libya took a major step toward reopening its biggest field.Futures in New York fell to near $40 a barrel. Crude explorers and tugboat operators got … Read more Oil Falls Near $40 With Supply Constraints Beginning to Ease

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COMMENTARY: Why Big Oil May Want to Vote for Joe Biden – Liam Denning

By Liam Denning Oct 12, 2020 (Bloomberg Opinion) Oil executives are just like you and me: They worry about the election. A Biden administration would absolutely kill our industry. Such comments from oil and gas chiefs featured in the Dallas Fed’s latest sector survey. It is received wisdom that, if elected president alongside a few more Democratic senators, an administration led … Read more COMMENTARY: Why Big Oil May Want to Vote for Joe Biden – Liam Denning

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U.S. energy companies begin restoring oil and gas output after hurricane

By Erwin Seba HOUSTON (Reuters) – U.S. energy companies were returning workers and restarting operations at storm-swept production facilities along the U.S. Gulf Coast on Sunday, two days after Hurricane Delta barreled through the area. Chevron Corp, Royal Dutch Shell Plc and BHP Group all said workers were headed back to production platforms in the … Read more U.S. energy companies begin restoring oil and gas output after hurricane

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Risk Matters: The Impact of Employee Turnover on Your Company’s Safe Operations

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It happens in every company, the key resource, a person who has been on the team for years or even decades, has left your organization. They were offered a new position, or perhaps this was due to an economic crisis or changing business models and restructurings which resulted in them being laid off. What’s left … Read more Risk Matters: The Impact of Employee Turnover on Your Company’s Safe Operations

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U.S. drillers add oil and gas rigs for fourth week in a row -Baker Hughes

By Scott DiSavino Oct 9 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since June 2018 as producers start drilling again with prices holding around $40 a barrel over the past few months. The oil and gas rig count, … Read more U.S. drillers add oil and gas rigs for fourth week in a row -Baker Hughes

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COMMENTARY: Covid-19 Is Big Oil’s Asteroid Strike: Julian Lee

By Julian Lee Oct 10, 2020 (Bloomberg Opinion) Covid-19 may do for Big Oil what the Chicxulub asteroid did for the dinosaurs when it struck Earth 66 million years ago.Much like the “terrible lizards,” Big Oil was already in decline before the novel coronavirus hit. The world in which they thrived is changing around them and they face … Read more COMMENTARY: Covid-19 Is Big Oil’s Asteroid Strike: Julian Lee

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Downstream Leadership Forum seeks to create smarter, more resilient and sustainable downstream business strategies

Reuters Events Feature Logo 400x270

LONDON, September 23, 2020 – Reuters Events is connecting more than 30 downstream leaders and 5,000 industry representatives this November to investigate how the sector can deliver value through uncertainty. The virtual Downstream Leadership Forum on November 19 and 20 will feature speakers such as Dow chairman and CEO Jim Fitterling, Chemours president and CEO … Read more Downstream Leadership Forum seeks to create smarter, more resilient and sustainable downstream business strategies

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Gas Market Buys Merkel and Putin Time on Nord Stream 2

By Vanessa Dezem Oct 10, 2020 (Bloomberg) Germany won’t need additional gas flows this season, giving Chancellor Angela Merkel and Russian President Vladimir Putin another reason to bide their time on the controversial Nord Stream 2 pipeline. After two warm winters and the coronavirus pandemic, demand for the fuel used for heat and power generation is … Read more Gas Market Buys Merkel and Putin Time on Nord Stream 2

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U.S. Miners Are Trying to Get Out of the Thermal Coal Business

By Will Wade Oct 9, 2020 (Bloomberg) U.S. coal miners are searching for an exit from the power business, or getting pushed there. Activist investors are urging Contura Energy Inc. to accelerate its plan to get out of mining thermal coal for power plants, to focus instead on the more lucrative type that’s used to make steel. And … Read more U.S. Miners Are Trying to Get Out of the Thermal Coal Business

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Icahn sees energy sector rebound but urges patience

By Svea Herbst-Bayliss BOSTON (Reuters) – Billionaire investor Carl Icahn said on Thursday the energy sector will bounce back one day but shareholders need to be very patient and he is not urging people to buy. Icahn, with stakes in CVR Energy CVI.N, Cheniere Energy LNG.A and Occidental Petroleum OXY.N, said the key to making money is to buy … Read more Icahn sees energy sector rebound but urges patience

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Oil Falls With Norway Strike Set to End After Successful Talks

By Andres Guerra Luz  Oct 9, 2020, (Bloomberg) Crude prices slid after oil workers in Norway called off a strike that had shut down about 8% of the country’s production.Futures in London and New York both fell over 1% on Friday. The settlement will restore production at six fields already shut down by the dispute and prevent an … Read more Oil Falls With Norway Strike Set to End After Successful Talks

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Pipeline Billionaire Follows Playbook, Stepping Down But Staying

By Rachel Adams-Heard Oct 9, 2020 (Bloomberg) Kelcy Warren, the Dallas billionaire known for controversial pipelines and aggressive deal making, is stepping down as chief executive officer of Energy Transfer LP. But if the move is anything like those of fellow moguls in the pipeline industry, he isn’t going far.The company late Thursday named Chief Operating … Read more Pipeline Billionaire Follows Playbook, Stepping Down But Staying

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Myanmar-born ‘dreamer’ snaps up U.S. drilling leases amid industry malaise

Oil Pump

By Nichola Groom (Reuters) – A Myanmar-born perfume entrepreneur and missionary has snapped up nearly half of the oil and gas leases offered by the Trump administration since August, saying the coronavirus pandemic created an opportunity to buy them cheaply. Levi Sap Nei Thang, who boasts a large social media following and said she is … Read more Myanmar-born ‘dreamer’ snaps up U.S. drilling leases amid industry malaise

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U.S. Natgas Futures on Track to Hit Highest Since November as Hurricane Shuts Output

Natural Gas

October 9, 2020 Reuters U.S. natural gas futures were on track to reach their highest close since November on Friday as production fell to its lowest in over two years after Gulf Coast energy firms shut wells ahead of Hurricane Delta and on forecasts for colder weather and higher demand in mid October. That price … Read more U.S. Natgas Futures on Track to Hit Highest Since November as Hurricane Shuts Output

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Duke Energy boosts capital spending to fight climate change

By Ross Kerber BOSTON (Reuters) – Top U.S. utility Duke Energy Corp plans billions of dollars of new spending this decade as it ramps up efforts to slash greenhouse gas emissions, executives told Reuters The move comes amid growing pressure from Democratic politicians and activist investors for power producers to reduce their hefty contribution to … Read more Duke Energy boosts capital spending to fight climate change

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Norwegian union says oil strike could end on Friday

Offshore drilling

By Nerijus Adomaitis OSLO (Reuters) – Norwegian oil workers could end their 10-day strike later on Friday if a set of new proposals from the oil industry proves satisfactory, the head of the Lederne trade union told Reuters. Oil firms and union officials were meeting on Friday with a state-appointed mediator to try to end … Read more Norwegian union says oil strike could end on Friday

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Goldman Expands Sustainability Efforts With New Investing Team

Solar Panels

By Elaine Chen Oct 8, 2020 (Bloomberg) Goldman Sachs Group Inc. is starting a group focused on investment opportunities in clean energy, waste and other sustainability industries, joining several major banks in making climate commitments in recent weeks. Ken Pontarelli will return to the firm as a partner to lead the team, which will fall under … Read more Goldman Expands Sustainability Efforts With New Investing Team

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Oil Site Leaked Gases Uncontrollably for Months, Group Says

By Rachel Adams-Heard Oct 8, 2020 (Bloomberg) An oil well site in the Permian Basin owned by a bankrupt shale producer has spewed polluting gases into the atmosphere for 10 months, despite being investigated by Texas regulators, according to an environmental group.Infrared video footage collected during multiple visits from November 2019 through September show “continuous intense … Read more Oil Site Leaked Gases Uncontrollably for Months, Group Says

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Tesla Seeks Approval for Battery-Cell Output at New Texas Plant

By Dana Hull and Akshat Rathi Oct 8, 2020 (Bloomberg) Tesla Inc.’s new factory in Austin, Texas, won’t build only the Cybertruck: State filings suggest the company also plans to make batteries on site as part of an ambitious strategy to further integrate its supply chain. “The facility is proposing to operate a cell-manufacturing unit to … Read more Tesla Seeks Approval for Battery-Cell Output at New Texas Plant

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The Numbers Behind Exxon’s Support for a Carbon Tax

Exxon Mobil

By Gernot Wagner Oct 9, 2020 (Bloomberg) Exxon Mobil Corp. is no longer the most valuable energy company in the U.S. That distinction now goes to NextEra Energy Inc., the world’s largest provider of wind and solar power. Exxon isn’t even the most valuable American oil company—as of this week that’s Chevron Corp. What was once the world’s largest … Read more The Numbers Behind Exxon’s Support for a Carbon Tax

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Hurricane Delta shuts most U.S. offshore oil output in 15 years

By Reuters Staff HOUSTON (Reuters) – A strengthening Hurricane Delta dealt the greatest blow to U.S. offshore Gulf of Mexico production in 15 years, halting most of the region’s oil and nearly two-thirds of its natural gas output. An already large and powerful storm, Delta could intensify further on Friday as it churns through the … Read more Hurricane Delta shuts most U.S. offshore oil output in 15 years

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GREEN ON TOP: Sustainable Debt Is Piling Up – and for Good Reason

By Nathaniel Bullard Oct 8, 2020 (Bloomberg) We’ve passed a major milestone in sustainable finance: one trillion dollars in issuance of green bonds. As of last quarter, companies, financial institutions, governments and municipalities raised more than $215 billion dollars in green bonds. That’s not far off the more than $270 billion raised in all of 2019, and it’s … Read more GREEN ON TOP: Sustainable Debt Is Piling Up – and for Good Reason

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Exxon’s Market-Value Crown in Energy Passes to Chevron, NextEra

By Kevin Crowley, Will Wade and Brian Eckhouse  Oct 8, 2020 (Bloomberg) Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more than a century ago. The reordering of the oil giants says more … Read more Exxon’s Market-Value Crown in Energy Passes to Chevron, NextEra

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OPEC Expects to Gain Oil-Market Share After Virus Wounds Rivals

By Grant Smith Oct 8, 2020 (Bloomberg) OPEC expects to emerge from the pandemic with a greater share of global oil sales, after 2020’s price downturn battered rivals in the U.S. and elsewhere. The Organization of Petroleum Exporting Countries boosted forecasts for the amount of oil it will need to supply over the next four years, … Read more OPEC Expects to Gain Oil-Market Share After Virus Wounds Rivals

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Oil Gains Above $40 With Hurricane Delta Threatening Gulf Output

By Ann Koh and Alex Longley  Oct 8, 2020 (Bloomberg) Oil rose beyond $40 a barrel in New York, buoyed by supply disruption in the U.S. and the threat of a slump in Norwegian output. Energy operators in the Gulf of Mexico have shut 80% of oil output in preparation for Hurricane Delta, which barreled across … Read more Oil Gains Above $40 With Hurricane Delta Threatening Gulf Output

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Foreign-backed consortium in talks for Petrobras gas fields in Brazil, sources say

Petrobras

By Gram Slattery, Carolina Mandl RIO DE JANEIRO/SAO PAULO (Reuters) – A consortium of Brazil’s 3R Petroleum and Norway-linked DBO Energy is in bilateral talks with Brazil’s Petrobras to purchase a cluster of offshore natural gas fields, according to two sources with direct knowledge of the matter. The Peroa cluster, located off the coast of Espirito … Read more Foreign-backed consortium in talks for Petrobras gas fields in Brazil, sources say

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Norway strike could cut a quarter of oil, gas output next week

Offshore drilling

By Nerijus Adomaitis OSLO (Reuters) – A strike by oil workers in Norway could cut output from western Europe’s biggest oil and gas producer by almost a quarter, operators said on Thursday, though the striking union said a resolution was possible. Widening strike action raised the prospect of further price rises on the international oil … Read more Norway strike could cut a quarter of oil, gas output next week

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Hurricane Delta steams across Gulf of Mexico, halting 80% of oil output

By Reuters Staff HOUSTON (Reuters) – Hurricane Delta began its march through prime U.S. offshore oil producing areas in the U.S. Gulf of Mexico on Thursday as energy companies moved drilling rigs and pulled workers off platforms. The storm, expected to intensify over the Gulf’s warm waters to a Category 3 hurricane with winds of … Read more Hurricane Delta steams across Gulf of Mexico, halting 80% of oil output

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OPEC, in major shift, says oil demand to plateau in late 2030s

By Alex Lawler LONDON (Reuters) – World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits. The prediction from the Organization … Read more OPEC, in major shift, says oil demand to plateau in late 2030s

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Record European demand for renewable energy in the first half of 2020 – despite COVID-19

08.10.2020, Oslo – “The demand for renewable energy documented with Guarantees of Origin shows record growth during the first half of 2020, despite the negative effect COVID-19 is having on global and local economies. The fact that especially corporate demand for renewables seems unaffected is truly inspiring during these unusual and trying times,” says Tom Lindberg, Managing Director in ECOHZ, commenting on … Read more Record European demand for renewable energy in the first half of 2020 – despite COVID-19

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Chevron workers face demands to reapply for jobs under global restructuring – sources

By Jennifer Hiller, Devika Krishna Kumar HOUSTON/NEW YORK (Reuters) – Chevron Corp CVX.N employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, people familiar with the matter said. The No. 2 U.S. oil producer has begun taking steps to streamline its organization this … Read more Chevron workers face demands to reapply for jobs under global restructuring – sources

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Oil’s Three-Speed Recovery Has Turned the Industry Upside Down

By Jeffrey Bair, Saket Sundria, Jack Wittels and Javier Blas Oct 7, 2020 (Bloomberg) The global network of tankers, pipelines and refineries that makes useful fuels out of crude oil is built on long-standing patterns of consumption: so much gasoline for the world’s drivers, a certain amount of diesel for trucks and a proportion of jet … Read more Oil’s Three-Speed Recovery Has Turned the Industry Upside Down

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Scovan Completes Oil Battery for Deltastream Energy In Marten Hills

Scovan10-Feature-Logo-400x270-1-300x203

The Challenge Deltastream Energy Corporation is a Canadian private start-up exploration and production company. In 2019, Scovan was contracted to design a 12,500 barrel per day Oil Battery and Shipping Terminal in Marten Hills, which has been running above capacity of up to 18,000 bbl/d. The Marten Hills Clearwater heavy oil play, northeast of the … Read more Scovan Completes Oil Battery for Deltastream Energy In Marten Hills

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Breakwater Energy Partners Constructs Largest Produced Water Recycling Facility In The Permian Basin

Breakwater Energy Partners  Oct 05, 2020 HOUSTON, Oct. 5, 2020 /PRNewswire/ — Breakwater Energy Partners, LLC (“Breakwater”), is pleased to announce that it has constructed the largest produced water recycling facility in the Permian Basin. The 80-acre facility, known as the Big Spring Recycling System (BSRS), has a throughput capacity of over 250,000 barrels per day of recycled … Read more Breakwater Energy Partners Constructs Largest Produced Water Recycling Facility In The Permian Basin

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China’s Building Mega Refineries Just as Fuel Demand Stalls

By Bloomberg News  Oct 6, 2020, (Bloomberg) China is investing tens of billions of dollars in new mega-refineries even as its fuel demand is expected to peak within five years, raising the risk it will flood the region with cheap exports. At least four projects with about 1.4 million barrels a day of crude-processing capacity, more … Read more China’s Building Mega Refineries Just as Fuel Demand Stalls

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Fossil Fuel Firms Not Doing Enough on Emissions, Funds Say

By Laura Hurst Oct 7, 2020 (Bloomberg) None of Europe’s largest oil, gas and coal companies are on track to limit global warming to within 2 degrees Celsius, according to a report by money managers overseeing more than $22 trillion. Energy and mining companies have been under increasing pressure, from both environmental groups and their own … Read more Fossil Fuel Firms Not Doing Enough on Emissions, Funds Say

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ESG Market Record Is Causing Bubble Anxiety

By Tim Quinson Oct 7, 2020 (Bloomberg)The investing world of environmental, social and governance just broke through another barrier, and the growth is starting to raise questions (and even concern) about how much bigger it can get. Total green bond issuance topped $1 trillion in the past week, joining ESG-focused funds that have a similar … Read more ESG Market Record Is Causing Bubble Anxiety

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Oil Falls After Stimulus Talks End and Stockpiles Seen Swelling

By Ann Koh and Alex Longley Oct 7, 2020 (Bloomberg) Oil retreated after an industry report saw U.S. crude stockpiles growing and President Donald Trump halted stimulus talks until after the election. Trump told his negotiators to stop talks with Democratic leaders just hours after Federal Reserve Chair Jerome Powell stepped up his call for more spending to avoid damaging … Read more Oil Falls After Stimulus Talks End and Stockpiles Seen Swelling

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Sole survivor? Saudi Aramco doubles down on oil to outlast rival

By Rania El Gamal, Davide Barbuscia, Marwa Rashad DUBAI/RIYADH (Reuters) – The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it … Read more Sole survivor? Saudi Aramco doubles down on oil to outlast rival

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Trump administration rejected most royalty cut requests from drillers this spring: GAO

(Reuters) – The Trump administration rejected two-thirds of royalty relief requests from onshore oil and gas companies struggling with fallout from the coronavirus pandemic earlier this year, according to a government watchdog report released on Tuesday. Bureau of Land Management offices approved 581 out of 1,689 requests for temporary royalty relief between March 24 through … Read more Trump administration rejected most royalty cut requests from drillers this spring: GAO

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U.S. natgas output, demand to fall in 2020 from peaks due to coronavirus

(Reuters) – U.S. natural gas production and demand will drop in 2020 from record highs last year as coronavirus lockdowns cut economic activity and energy prices, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected dry gas production will drop to 90.64 billion cubic feet … Read more U.S. natgas output, demand to fall in 2020 from peaks due to coronavirus

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Storm-weary offshore energy firms prep for massive hurricane

FILE PHOTO: Representative Steve Scalise (R-LA) views BP's Thunder Horse Oil Platform in the Gulf of Mexico, from the air, 150 miles from the Louisiana coast in this May 11, 2017 handout photo obtained by Reuters June 26, 2017. Chris Bond/Handout via REUTERS

By Reuters Staff HOUSTON (Reuters) – Oil and gas workers withdrew en masse from offshore production facilities as Hurricane Delta grew into a powerful storm over the Caribbean on its way to the Gulf of Mexico. Delta’s winds reached 145 miles per hour (235 kph) as the storm sped toward Mexico’s Yucatan peninsula and eventual … Read more Storm-weary offshore energy firms prep for massive hurricane

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Enservco Announces Management Promotions Following Refinancing

October 07, 2020  | Source: Enservco CFO Marjorie Hargrave Elected President Amanda Dalbey Appointed Vice President of Operations DENVER, Oct. 07, 2020 (GLOBE NEWSWIRE) — Enservco Corporation (NYSE American: ENSV), a diversified national provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced that Chief Financial Officer Marjorie Hargrave has been elected to the … Read more Enservco Announces Management Promotions Following Refinancing

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Shaft Alignment Basics – Becht

by Frederick Lea, Jr. “Shaft alignment is likely the most misunderstood facet of rotating installation and maintenance.  Most shaft alignment today is done by laser alignment tools.  But, the laser alignment tools are a “black box”.  The problem with a black box is that you only get outputs with no knowledge of what is going … Read more Shaft Alignment Basics – Becht

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Small energy players lean on taxpayers and Wall Street for coronavirus aid

By Devika Krishna Kumar, Tim McLaughlin NEW YORK (Reuters) – Several publicly traded energy companies took millions of dollars in U.S. taxpayer-funded loans to support their businesses even as those firms had access to other ways to generate cash, according to a Reuters analysis of U.S. Securities and Exchange Commission and other government data. U.S. lawmakers … Read more Small energy players lean on taxpayers and Wall Street for coronavirus aid

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Oil Rises After Biggest Surge Since May on Stimulus Optimism

By Ann Koh, James Thornhill and Alex Longley  Oct 6, 2020 (Bloomberg) Oil rose further after the biggest gain since May on growing optimism for more U.S. fiscal stimulus and as President Donald Trump left hospital following treatment for Covid-19. Futures added 1.2%, following Monday’s surge above $39 a barrel. House Speaker Nancy Pelosi and Treasury … Read more Oil Rises After Biggest Surge Since May on Stimulus Optimism

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Premier Oil Swallowed by Chrysaor, Creating North Sea No. 1

North Sea Oil Platform

By Elena Mazneva Oct 6, 2020 (Bloomberg) Premier Oil Plc will be swallowed by Chrysaor Holdings Ltd. in a reverse takeover, creating the largest listed independent oil and gas producer in the U.K. North Sea. The deal, which was first reported by Bloomberg, marks the end of the road for one of the oldest independent oil explorers. After … Read more Premier Oil Swallowed by Chrysaor, Creating North Sea No. 1

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Oil Pipeline Operators Offer New Discounts as Demand Craters

By Sheela Tobben Oct 6, 2020 (Bloomberg) U.S. oil pipeline operators are slashing fees to encourage customers in Texas to keep using their networks to ship barrels to the Gulf Coast as the pandemic wreaks havoc on profits.Kinder Morgan Inc. is offering discounts of about 50% on the Eagle Ford pipeline for some existing customers, according … Read more Oil Pipeline Operators Offer New Discounts as Demand Craters

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Wild U.S. Gas Price Swings Reveal Doubts About Winter, Supplies

Natural Gas

By Christine Buurma and Sergio Chapa  Oct 5, 2020 (Bloomberg)Rollercoaster moves in the U.S. natural gas market over the past few weeks are underscoring traders’ uncertainty about whether a frigid winter, muted output and rebounding demand will send prices rocketing higher in the coming months. Gas futures settled more than 7% higher on Monday, mimicking … Read more Wild U.S. Gas Price Swings Reveal Doubts About Winter, Supplies

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Six Norway oil and gas fields shut as strike escalates

Offshore drilling

By Nerijus Adomaitis, Terje Solsvik OSLO (Reuters) – Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said. The strike will cut Norway’s total output capacity by just over 330,000 barrels of oil equivalent per day, or about 8% of total production, … Read more Six Norway oil and gas fields shut as strike escalates

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NextEra’s Duke Energy bid faces plethora of regulatory hurdles

By David French NEW YORK (Reuters) – NextEra Energy Inc NEE.N Chief Executive James Robo joked last week he does not pursue small acquisitions because the reward is not worth the “brain damage” of getting them past regulators. Yet his $65 billion-plus pursuit of Duke Energy Corp DUK.N will only pay off if he can overcome major regulatory … Read more NextEra’s Duke Energy bid faces plethora of regulatory hurdles

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‘Work from work:’ How a U.S. energy firm’s office return left some employees bruised

HOUSTON (Reuters) – As the world experimented with working from home, U.S. energy firm Phillips 66 Co PSX.N went the other way: it imposed a “work-from-work” policy for staff at its Houston headquarters in May even as the city became a hot spot for the pandemic. After a brief spike in COVID-19 cases in July, Phillips … Read more ‘Work from work:’ How a U.S. energy firm’s office return left some employees bruised

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Targa Resources Corp. Announces $500 Million Common Share Repurchase Program and Provides Updated 2020 Outlook

Targa Resources

October 05, 2020 06:00 ET | Source: Targa Resources Corp. HOUSTON, Oct. 05, 2020 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that the board of directors of the Company has authorized a share repurchase program (the “Share Repurchase Program”) for the repurchase of up to $500 million of the Company’s … Read more Targa Resources Corp. Announces $500 Million Common Share Repurchase Program and Provides Updated 2020 Outlook

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Most U.S. Oil Jobs Lost in Pandemic Won’t Return at These Prices

By Katrina Lewis Oct 4, 2020 (Bloomberg)Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP.The collapse in oil demand and prices spurred the fastest rate of oil- and chemical-industry layoffs in history, with about 107,000 jobs eliminated between March … Read more Most U.S. Oil Jobs Lost in Pandemic Won’t Return at These Prices

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Exxon’s Plan for Surging Carbon Emissions Revealed in Leaked Documents

By Kevin Crowley and Akshat Rathi Oct 5, 2020 (Bloomberg) Exxon Mobil Corp. has been planning to increase annual carbon-dioxide emissions by as much as the output of the entire nation of Greece, an analysis of internal documents reviewed by Bloomberg shows, setting one of the largest corporate emitters against international efforts to slow the pace … Read more Exxon’s Plan for Surging Carbon Emissions Revealed in Leaked Documents

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U.S. oil deals sluggish despite Chevron, Devon boost: Enverus

By Reuters Staff (Reuters) – The pace of mergers and acquisitions in the U.S. oil and gas sector during the third quarter tied with the first quarter for the worst in a decade, according to data released on Monday, as most shale producers remain reluctant to spend after an oil price crash this year U.S. … Read more U.S. oil deals sluggish despite Chevron, Devon boost: Enverus

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Post Pandemic Oil and Gas: Four Scenarios – Geoffrey Cann

By Geoffrey Cann How might the world of oil and gas gas unfold in a post pandemic world, given rising nationalism challenging globalism, and fast growing renewables challenging fossil fuels? Backstory I’ve been invited by the Board of a technology company to share my views on the world of oil and gas in a post … Read more Post Pandemic Oil and Gas: Four Scenarios – Geoffrey Cann

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Oil firms begin offshore U.S. evacuations as record-breaking storm threatens

FILE PHOTO: Representative Steve Scalise (R-LA) views BP's Thunder Horse Oil Platform in the Gulf of Mexico, from the air, 150 miles from the Louisiana coast in this May 11, 2017 handout photo obtained by Reuters June 26, 2017. Chris Bond/Handout via REUTERS

OCTOBER 5, 2020 By Erwin Seba HOUSTON (Reuters) – Energy companies on Monday began evacuating offshore oil platforms as the 25th named storm of the year formed in the Caribbean and was forecast to move into the Gulf of Mexico and threaten the coast this week, possibly as a major hurricane. Tropical Storm Delta was expected … Read more Oil firms begin offshore U.S. evacuations as record-breaking storm threatens

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U.S. oil refiners look to leapfrog Canadians in making renewable diesel

By Rod Nickel, Laura Sanicola WINNIPEG, Manitoba/NEW YORK (Reuters) – U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants. Parkland Corp’s refinery, which includes production of renewable diesel, is seen in an undated aerial photograph in Burnaby, British Columbia, … Read more U.S. oil refiners look to leapfrog Canadians in making renewable diesel

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Oil Rallies From 3-Week Low Buoyed by Trump’s Improving Health

By Ann Koh and Alex Longley Oct 5, 2020 (Bloomberg) Oil rose from a three-week low after a member of Donald Trump’s medical team said the U.S. president could leave hospital as soon as Monday, despite contradictory accounts about his health. Futures advanced as much as 3.7% in New York, mirroring a broader relief rally in stock … Read more Oil Rallies From 3-Week Low Buoyed by Trump’s Improving Health

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Norway oil strike expands, 8% of output at risk

Offshore drilling

By Reuters Staff OSLO (Reuters) – Norwegian oil workers expanded their ongoing strike on Monday, the Lederne labour union said, in an escalation expected by energy firms to shut oil and gas production at up to six offshore fields. The escalation could reduce Norway’s petroleum production capacity by as much as 330,000 barrels of oil … Read more Norway oil strike expands, 8% of output at risk

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U.S. drillers add oil and gas rigs for third week in a row – Baker Hughes

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since October 2018 after price increases in recent months prompted some producers to start drilling again. The oil and gas rig count, an early indicator of future output, rose five to … Read more U.S. drillers add oil and gas rigs for third week in a row – Baker Hughes

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Noticeable value with EvoOne enabling high ROP without compromising Directional Measurements and Logging Quality

Evolution-Horizontal-Feature

In the current downturn everyone is struggling to show value unless you demonstrate it as clearly as EvoOneTM with 12 bps. Evolution’s Unified TelemetryTM is enabling drilling at rates over 800 ft/hr and still ensure one gamma measurement per foot without compromising other measurements. The unique surface software nLIGHT(TM) provides a fantastic visualization tool to … Read more Noticeable value with EvoOne enabling high ROP without compromising Directional Measurements and Logging Quality

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WATCH: TRAC Creates 4D Construction Schedules using AR

TRAC Feature Logo 400x270

  TRAC has created an Augmented Reality construction schedule that can be viewed through any mobile device. Your team members and clients can access a live model updated on a cloud network. All communication with schedule changes are mitigated in one centralized hub. No more headaches with construction schedules. This application is the first of … Read more WATCH: TRAC Creates 4D Construction Schedules using AR

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Saudi Arabia Pegs Budget to Oil at Around $50, Goldman Says

By Abeer Abu Omar and Matthew Martin Oct 4, 2020 (Bloomberg) Saudi Arabia’s Finance Ministry is budgeting for oil prices to be around $50 a barrel for the next three years, according to a Goldman Sachs Group Inc. analysis of the kingdom’s fiscal plans.“Using our own estimates for the breakdown of government revenues, we calculate that the … Read more Saudi Arabia Pegs Budget to Oil at Around $50, Goldman Says

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Supreme Court takes up energy companies’ appeal over Baltimore climate lawsuit

By Reuters Staff WASHINGTON (Reuters) – The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC BP.L, Chevron Corp CVX.N, Exxon Mobil Corp XOM.N and Royal Dutch Shell PLC RDSa.L contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate change. The justices will weigh whether the lawsuit … Read more Supreme Court takes up energy companies’ appeal over Baltimore climate lawsuit

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U.S. oil producers on pace for most bankruptcies since last oil downturn

NEW YORK (Reuters) – Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies since the 2016 shale downturn. Thirty-six producers with $51 billion in debt filed for bankruptcy protection in the first eight months … Read more U.S. oil producers on pace for most bankruptcies since last oil downturn

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U.S. oil refiners look to leapfrog Canadians in making renewable diesel

By Rod Nickel, Laura Sanicola WINNIPEG, Manitoba/NEW YORK (Reuters) – U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants. Parkland Corp’s refinery, which includes production of renewable diesel, is seen in an undated aerial photograph in Burnaby, British Columbia, … Read more U.S. oil refiners look to leapfrog Canadians in making renewable diesel

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U.S. refiners on course to digest excess diesel by March: Kemp

By John Kemp (John Kemp is a Reuters market analyst. The views expressed are his own) LONDON (Reuters) – If they can maintain recent progress, U.S. oil refiners should be able to bring stocks of diesel and other middle distillates close to normal levels in the first quarter of 2021. Distillate inventories were still 20% … Read more U.S. refiners on course to digest excess diesel by March: Kemp

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Noble Energy shareholders approve $4.2 billion sale to Chevron

By Reuters Staff HOUSTON (Reuters) – Noble Energy NBL.O shareholders on Friday approved a deal to sell the oil and gas producer to Chevron Corp CVX.N, making Chevron the No. 2 U.S. shale oil producer and giving it international natural gas reserves close to growing markets. The all-stock deal values Noble Energy at around $4.2 billion, excluding $8 … Read more Noble Energy shareholders approve $4.2 billion sale to Chevron

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Big Oil shares capitulate to COVID, lower carbon doubts

By Ron Bousso LONDON (Reuters) – Royal Dutch Shell RDSa.L and BP BP.L have lost over half of their market value so far this year, with both shares hitting 25-year lows this week, battered by weak oil prices and investor concerns over their plans to shift to low-carbon energy. Exxon Mobil, the largest U.S. oil company, which is … Read more Big Oil shares capitulate to COVID, lower carbon doubts

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OPEC Output Steady as UAE Cut Offsets Gains in Troubled Members

By Grant Smith and Julian Lee Oct 1, 2020 (Bloomberg) OPEC’s crude output held steady last month as the United Arab Emirates pulled production back sharply in atonement for recent months of oversupply.The UAE slashed by 310,000 barrels a day, or roughly 10%, according to a Bloomberg survey, in order to better comply with limits set … Read more OPEC Output Steady as UAE Cut Offsets Gains in Troubled Members

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Oil Extends Losses After President Trump Says He Has Covid-19

By Sharon Cho, Elizabeth Low and Serene Cheong  Oct 2, 2020 (Bloomberg) Oil extended losses on Friday as it got caught up in a broad downward move in financial markets after President Donald Trump said he had tested positive for the Covid-19 virus. Futures in New York fell toward $37 a barrel, while global benchmark Brent … Read more Oil Extends Losses After President Trump Says He Has Covid-19

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Norway’s Equinor to cut exploration staff by 30%

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

By Reuters Staff OSLO (Reuters) – Norwegian oil and gas firm Equinor plans to cut its exploration staff by about 30% globally by 2023 to reduce costs as the COVID-19 pandemic reduces demand for petroleum, the company said on Friday. Equinor said it wanted to focus on selected areas when searching for new oil and … Read more Norway’s Equinor to cut exploration staff by 30%

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Occidental Announces Sale of its Onshore Assets in Colombia to The Carlyle Group

October 01, 2020  | Source: Occidental HOUSTON, Oct. 01, 2020 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced it has signed an agreement to sell its onshore assets in Colombia to The Carlyle Group for total consideration of approximately $825 million, with $700 million up front and the remainder payable subject to certain production and commodity price targets. … Read more Occidental Announces Sale of its Onshore Assets in Colombia to The Carlyle Group

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Devon Energy Completes Sale of Barnett Shale Assets

October 01, 2020 | Source: Devon Energy Corporation OKLAHOMA CITY, Oct. 01, 2020 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) today announced that it has completed the sale of its assets in the Barnett Shale to Banpu Kalnin Ventures (BKV). Devon received a cash payment of $320 million from BKV at closing, after adjusting for a … Read more Devon Energy Completes Sale of Barnett Shale Assets

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Bonanza Creek Provides an Operational Update and Announces 3rd Quarter 2020 Conference Call

October 20, 2020  Source: Bonanza Creek Energy, Inc. DENVER, Oct. 20, 2020 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek” or the “Company”) today issued preliminary third quarter 2020 results, and announced the date of its third quarter 2020 earnings release and conference call. Highlights include: Third quarter 2020 estimated average sales volumes of … Read more Bonanza Creek Provides an Operational Update and Announces 3rd Quarter 2020 Conference Call

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Risk Matters: 8 Reasons Why Risk Discovery Should Be Your Top Priority

Risk-Alive-Feature-Logo-400x270-1

When you finish a risk assessment like a Process Hazards Analysis (PHA), how do you measure your success? Did you get hot lunches or was it the dreaded corporate sandwich plate? Obviously, the meals provided aren’t the best measure, so what is? How good you feel about the work? How many scenarios you created? If … Read more Risk Matters: 8 Reasons Why Risk Discovery Should Be Your Top Priority

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Oil Prices No Longer Push Around The U.S. Economy

(Bloomberg Opinion) The Federal Reserve spent the past several years shifting to a policy framework that emphasizes employment more and inflation less. This made it more patient with business cycle expansions, which is one reason median household incomes grew more in the late 2010s than they did in the late 1990s. But an unappreciated hero in facilitating … Read more Oil Prices No Longer Push Around The U.S. Economy

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Oil Drops Below $40 With Demand Outlook Increasingly Shaky

By Elizabeth Low and Alex Longley Oct 1, 2020 (Bloomberg) Oil fell below $40 a barrel with a challenged demand outlook and higher supplies from OPEC+.As the coronavirus continues to spread, there are ominous signs for consumption. A 7-day moving average of worldwide commercial flights declined to the lowest since mid-August, according to Flightradar24, a website that tracks … Read more Oil Drops Below $40 With Demand Outlook Increasingly Shaky

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Permit in Hand, An Entrepreneur Starts on Alaska-Alberta Railway

By Michael Bellusci Sep 30, 2020 (Bloomberg) The team behind the proposed Alaska to Alberta railway aims to start prep work for construction in December, with a goal of getting the $17 billion cross-border railroad running by 2025.Sean McCoshen, founder and chairman of the company behind the project, said he has spent $100 million on studies and engineering … Read more Permit in Hand, An Entrepreneur Starts on Alaska-Alberta Railway

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VAALCO Announces New 3-D Seismic Survey Over Entire Etame Marin Block and Provides Estimated Third Quarter 2020 Production

September 30, 2020 | Source: VAALCO Energy, Inc. HOUSTON, Sept. 30, 2020 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that in connection with planning for future drilling programs at the Etame Marin block offshore Gabon, it will begin acquiring and processing new three-dimensional (“3-D”) seismic data in … Read more VAALCO Announces New 3-D Seismic Survey Over Entire Etame Marin Block and Provides Estimated Third Quarter 2020 Production

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BP sacks crude oil staff amid probe into China dealings

By Reuters Staff SINGAPORE (Reuters) – BP BP.L has terminated four trading and operations staff responsible for Chinese crude oil sales as a result of an internal investigation into trades with Singapore’s Hontop Energy, three people familiar with the matter said. The decision was made this week, the people said. The staff had been placed on … Read more BP sacks crude oil staff amid probe into China dealings

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Lonestar becomes latest oil firm to file for Chapter 11; more may follow

By Reuters Staff (Reuters) – Lonestar Resources US Inc LONE.O has filed for Chapter 11 bankruptcy protection, joining Oasis Petroleum and several other energy companies that have been hit by depressed crude prices and dismal fuel demand due to the COVID-19 pandemic. The pandemic has added to the woes of already struggling producers, and Chapter 11 bankruptcy … Read more Lonestar becomes latest oil firm to file for Chapter 11; more may follow

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Exxon expects higher oil price to boost third-quarter results

By Reuters Staff (Reuters) – Exxon Mobil Corp XOM.N said on Thursday its third-quarter results would be buoyed by higher prices for crude oil after a historic collapse in the previous quarter as coronavirus-related lockdowns caused a dramatic plunge in demand. Higher oil prices will help exploration and production earnings by $1.4 billion to $1.8 billion, compared … Read more Exxon expects higher oil price to boost third-quarter results

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Top U.S. oil refiner Marathon Petroleum to lay off 12% of workforce

By Reuters Staff The workforce reduction plan is a result of indefinite idling of its Martinez, California and Gallup, New Mexico refineries, the company said in the filing here. Refiners and oil producers have been cutting staff, slashing spending and reducing production to cope with the slump in crude prices and a global glut of … Read more Top U.S. oil refiner Marathon Petroleum to lay off 12% of workforce

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NextEra Energy CEO rules out hostile M&A after offer to Duke Energy

By David French (Reuters) – NextEra Energy Inc NEE.N Chief Executive James Robo said on Wednesday that the largest U.S. power utility would not embark on a hostile takeover, a day after reports surfaced it had made an approach to Duke Energy Corp DUK.N in what would be the sector’s biggest-ever acquisition. Duke Energy, which has a market capitalization … Read more NextEra Energy CEO rules out hostile M&A after offer to Duke Energy

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CALLING ALL SALES SUPERHEROES: EnergyNow is Hiring! Sales & Business Development Manager – Content Marketing Team: Details & Apply HERE!

Sales & Business Development Manager – Opportunities in Canada and United States JOB DESCRIPTION EnergyNow is looking for a sales representative with an entrepreneurial spirit and the drive to provide & support online marketing services for the energy industry. The successful candidate will be working with their own client list with uncapped earnings potential. We … Read more CALLING ALL SALES SUPERHEROES: EnergyNow is Hiring! Sales & Business Development Manager – Content Marketing Team: Details & Apply HERE!

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Oil Extends Decline With Demand Recovery Concerns Rising

By Elizabeth Low and Alex Longley Sep 30, 2020 (Bloomberg) Oil extended its decline below $39 a barrel in New York, heading for the first monthly loss since April, as the world’s biggest trading houses signaled a meaningful recovery in demand is some way off.Global oil consumption may rebound from its virus-driven collapse in about 18 months, according … Read more Oil Extends Decline With Demand Recovery Concerns Rising

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U.S. pipeline companies hit by weak demand offer enticements to keep shippers

By Devika Krishna Kumar, Arathy S Nair NEW YORK (Reuters) – U.S. pipeline companies are sweetening terms in a competition to keep producers using their lines as the industry downturn caused by the coronavirus pandemic means there is less oil to transport. The pandemic has ended a boom in U.S. shale production which had prompted a … Read more U.S. pipeline companies hit by weak demand offer enticements to keep shippers

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Apache Corporation Releases 2020 Sustainability Report

Driving Performance with Expanded ESG Compensation Incentives September 30, 2020 | Source: Apache Corporation HOUSTON, Sept. 30, 2020 (GLOBE NEWSWIRE) — Apache Corporation (Nasdaq: APA) today released its 2020 Sustainability Report, which highlights the company’s performance in governance, environmental stewardship, health and safety, workforce development and community engagement. The report is available at www.apachecorp.com/Sustainability. “The global pandemic has … Read more Apache Corporation Releases 2020 Sustainability Report

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In Pennsylvania coal country, miners forgive Trump for failed revival

Coal

By Dane Rhys, Timothy Gardner HEGINS, Pa (Reuters) – Rick Bender, who owns a coal processing plant in Hegins, Pennsylvania, voted for Republican Donald Trump in 2016, in part because of his promise to revive the industry from a decade-long decline. The revival never came. Bender says he is struggling to keep workers employed at the … Read more In Pennsylvania coal country, miners forgive Trump for failed revival

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Oil prices to see little upside as virus threat looms large: Reuters poll

By Anjishnu Mondal, Eileen Soreng (Reuters) – Oil prices will stay near current levels this year as rising novel coronavirus cases threaten to slow the pace of demand recovery and counter output curbs by top producers, a Reuters poll showed on Wednesday. The survey of 40 analysts and economists forecast benchmark Brent crude LCOc1 averaging $42.48 a barrel … Read more Oil prices to see little upside as virus threat looms large: Reuters poll

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