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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly  Jul 23, 2019, 4:30 AM (Bloomberg)Debt ceiling deal, new Conservative leader announced, and tech CEOs in Washington. Here are some of the things people in markets are talking about today. Deal done President Donald Trump announced a bipartisan agreement to suspend the debt ceiling and boost spending for the next two years, averting the risk … Read moreFive Things to Know in World Business Today

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Trade War and U.S. Shale to Keep Lid on Oil, Says Indian Refiner

By Debjit Chakraborty and Dhwani Pandya Jul 22, 2019 Trade war and the growth of American oil supply will keep crude prices in check, notwithstanding Middle East tensions, according to the head of one of India’s biggest refiners.Brent crude will likely remain in a range of $60 to $70 a barrel and could fall toward $60 … Read moreTrade War and U.S. Shale to Keep Lid on Oil, Says Indian Refiner

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Oil Holds Steady as Middle East Risks Mix With Economy Concerns

By Saket Sundria and Grant Smith Jul 23, 2019 (Bloomberg) Oil held steady as heightened tensions in the Persian Gulf threatened to disrupt energy flows from the crude-rich region, while a tepid demand outlook kept a lid on gains. Futures in New York traded little changed after climbing 1.7% over the past two sessions. Secretary … Read moreOil Holds Steady as Middle East Risks Mix With Economy Concerns

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U.S. Sanctions China State Oil Trader for Iran Crude Deal

By Serene Cheong and Alfred Cang Jul 23, 2019 (Bloomberg)The U.S. has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its biggest buyers. Zhuhai Zhenrong Co., the secretive company with links to the Chinese military, has a … Read moreU.S. Sanctions China State Oil Trader for Iran Crude Deal

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Big Oil’s Dealmaking CEO Spends Billions to Ride Out Turmoil

By Francois de Beaupuy Jul 23, 2019 If you’re offered the job of running one of the world’s largest companies, you don’t usually have just an hour to decide if you want it. But that was the challenge Patrick Pouyanne faced when the chief executive officer of oil giant Total SA died suddenly in a … Read moreBig Oil’s Dealmaking CEO Spends Billions to Ride Out Turmoil

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Bonanza Creek Issues Preliminary Second Quarter 2019 Results and Provides an Operational Update

July 22, 2019 | Source: Bonanza Creek Energy, Inc. DENVER, July 22, 2019 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek” or the “Company”) today issued preliminary second quarter 2019 results, provided an operations update, and announced its second quarter 2019 earnings release and conference call date. Highlights include: Second quarter 2019 estimated sales volumes increased … Read moreBonanza Creek Issues Preliminary Second Quarter 2019 Results and Provides an Operational Update

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SPI Energy Enters into a Framework Agreement to Acquire Up To 21MW of Solar Project Portfolio in Oregon

July 23, 2019| Source: SPI Energy Co., Ltd. HONG KONG and SANTA CLARA, Calif., July 23, 2019 (GLOBE NEWSWIRE) — SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ: SPI), a global provider of photovoltaic (“PV”) solutions for business, residential, government and utility customers and investors, today announced the execution of a framework agreement to … Read moreSPI Energy Enters into a Framework Agreement to Acquire Up To 21MW of Solar Project Portfolio in Oregon

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U.S. natgas futures rise near 3% on forecasts for more heat next week

Natural Gas

July 22, 2019 Reuters0 Comments U.S. natural gas futures gained almost 3% on Monday as forecasts for hotter weather and higher cooling demand next week lifted prices from two-week lows hit last week. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 6.1 cents, or 2.7%, to settle at $2.312 per million … Read moreU.S. natgas futures rise near 3% on forecasts for more heat next week

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Blue Mountain Midstream Announces Open Season for Crude Oil & Water Gathering Systems

July 22, 2019| Source: Blue Mountain Midstream LLC HOUSTON, July 22, 2019 (GLOBE NEWSWIRE) — Blue Mountain Midstream LLC (“Blue Mountain”), a wholly owned subsidiary of Riviera Resources, Inc. (OTCQX: RVRA), announced today its subsidiaries Wildcat Oil Gathering LLC (“Wildcat Oil Gathering”) and Wildcat Water Gathering LLC (“Wildcat Water Gathering”) have launched an Open Season for … Read moreBlue Mountain Midstream Announces Open Season for Crude Oil & Water Gathering Systems

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Blackstone (BX) Considers Sale of Cheniere Energy (CQP) Stake

By Rachel Adams-Heard and Kiel Porter Updated on Jul 22, 2019 (Bloomberg) Blackstone Group is considering selling its stake in Cheniere Energy Partners LP, according to people familiar with the matter, seven years after agreeing to invest about $1.5 billion in the owner of the first major liquefied natural gas export terminal in the U.S.The private equity … Read moreBlackstone (BX) Considers Sale of Cheniere Energy (CQP) Stake

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Petroteq Announces Closing of Resource Acquisition

July 22, 2019 | Source: Petroteq Energy Inc.  NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. SHERMAN OAKS, Calif., July 22, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated surface oil … Read morePetroteq Announces Closing of Resource Acquisition

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Strait of Hormuz: Why it’s the world’s most important oil artery

July 21, 2019 Reuters Warship and crude oil tanker transit the Strait of Hormuz Iran’s Revolutionary Guards said they had captured a British-flagged oil tanker in the Persian Gulf after Britain seized an Iranian vessel earlier this month, further raising tensions along a vital international oil shipping route. Iran’s ambassador to Britain warned against escalating tensions … Read moreStrait of Hormuz: Why it’s the world’s most important oil artery

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House Democrats to Announce Climate Change Plan: Campaign Update

By Jennifer A. Dlouhy Jul 22, 2019 (Bloomberg) Top House Democrats on Tuesday will announce a new plan for addressing climate change, as congressional inaction threatens to undermine environmental pitches by presidential candidates on an issue that voters identify as a priority. The effort by Democratic leaders on the House Energy and Commerce Committee comes … Read moreHouse Democrats to Announce Climate Change Plan: Campaign Update

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Market braces for Mexico’s annual oil hedge, trading surges -sources

July 22, 2019 Reuters Trading in crude oil options and futures surged last week as market participants prepared for Mexico’s annual oil hedging program, in which the country buys as much as $1 billion in contracts to protect its oil revenues. The global oil derivatives market braces itself every year in late spring and summer … Read moreMarket braces for Mexico’s annual oil hedge, trading surges -sources

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Oil Giant Saudi Arabia Is Set to Start First Wind-Power Plant

Wind Turbines

By Anthony DiPaola Jul 22, 2019 Saudi Arabia, the world’s biggest oil exporter, is poised to start generating wind power within three years as part of an effort to harness renewable energy to cut local demand for fossil fuels. The renewable energy units of Electricite de France SA and Abu Dhabi’s Mubadala Investment Co. completed … Read moreOil Giant Saudi Arabia Is Set to Start First Wind-Power Plant

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Extraction Oil & Gas, Inc. Announces Resignation of Donald Evans from Board of Directors

July 19, 2019 | Source: Extraction Oil & Gas, Inc. DENVER, July 19, 2019 (GLOBE NEWSWIRE) — Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”) today announced that former U.S. Commerce Secretary Donald L. Evans has resigned from the company’s Board of Directors, effective July 26, 2019, for personal reasons. “Former Secretary Evans has been a key member … Read moreExtraction Oil & Gas, Inc. Announces Resignation of Donald Evans from Board of Directors

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TerraForm Power to Acquire Large-Scale U.S. Distributed Generation Platform

July 22, 2019  Source: TerraForm Power, Inc. Investment Highlights Acquisition is expected to add ~320 megawatts of distributed generation assets in 20 states and in the District of Columbia Expected to grow TerraForm Power’s distributed generation portfolio to ~750 megawatts, making it one of the largest distributed generation businesses in the United States Portfolio consists of … Read moreTerraForm Power to Acquire Large-Scale U.S. Distributed Generation Platform

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New York Signs America’s Biggest-Ever Purchase of Offshore Wind

By Will Wade and Millicent Dent Jul 19, 2019 (Bloomberg) New York has signed the biggest-ever deals for offshore wind power in U.S. history, a key part of the state’s plan to get all of its power from emissions-free sources by 2040.On Thursday, Governor Andrew Cuomo awarded contracts for two projects off Long Island that … Read moreNew York Signs America’s Biggest-Ever Purchase of Offshore Wind

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Five Things to Know in World Business Today

World Business

(Bloomberg)  China extends an olive branch, Iran tensions remain very high, and Hong Kong violence escalates. Here are some of the things people in markets are talking about today. Goodwill Chinese state media are saying that face-to-face trade talks with the U.S. may happen soon as the country engaged in a number of goodwill gestures over the weekend. The … Read moreFive Things to Know in World Business Today

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U.S. Accuses China of ‘Bullying’ in South China Sea Oil Activity

By David McLaughlin  Jul 20, 2019 (Bloomberg) The U.S. said it’s concerned about reports of China’s interference with offshore oil and gas activities by Vietnam in the South China Sea, saying Beijing is threatening regional energy security.The State Department said Saturday that China’s “repeated provocative actions” directed at oil and gas exploration and production undermine … Read moreU.S. Accuses China of ‘Bullying’ in South China Sea Oil Activity

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Oil Advances as Iran’s Seizure of Tanker Keeps Tension High

By Sharon Cho and Grant Smith Jul 22, 2019 (Bloomberg) Oil rose again, heading for its biggest gain in more than a week, after Iran’s seizure of a British tanker fanned concerns of a confrontation that could disrupt Middle East supplies.Brent futures added 2% to trade near $64 a barrel in London. The U.K. demanded … Read moreOil Advances as Iran’s Seizure of Tanker Keeps Tension High

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Philadelphia Energy Files for Bankruptcy After Refinery Fire

By Stephen Stapczynski Jul 22, 2019 (Bloomberg) Philadelphia Energy Solutions filed for bankruptcy protection and reached a financing agreement with debt holders as the fuel-making company grapples with the aftermath of a June explosion and fire at its oil refinery that forced it to shut operations.The company submitted Chapter 11 petitions at the U.S. Bankruptcy … Read morePhiladelphia Energy Files for Bankruptcy After Refinery Fire

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FRAC SHACK INC. ANNOUNCES SUCCESSFUL LAUNCH OF NG SIDEKICK™

Acheson, Alberta, July 19, 2019 – Frac Shack Inc. (Frac Shack) announced the launch of its newest innovation, the NG SideKick™ (SideKick). The SideKick is the industry’s most sophisticated on-pad gas processing unit that takes in field natural gas and processes it down to a safe and usable state for multiple uses on any location. … Read moreFRAC SHACK INC. ANNOUNCES SUCCESSFUL LAUNCH OF NG SIDEKICK™

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Range Announces Asset Sales That Will Total $634 Million

July 19, 2019| Source: Range Resources Corporation FORT WORTH, Texas, July 19, 2019 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that it has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres in southwest Appalachia for gross proceeds totaling $600 million.  The two separate transactions are effective as of … Read moreRange Announces Asset Sales That Will Total $634 Million

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Gas Prices: East Coast Pump Prices Shrug Off Refinery Explosion

gas pumps

By Jeffrey Bair  Jul 18, 2019 (Bloomberg) U.S. East Coast pump prices are shrugging off the loss of the biggest refinery in the region, while drivers west of Pennsylvania are getting hit. The boost in retail gasoline predicted for the Northeast following the June explosion at Philadelphia Energy Solutions’ refinery hasn’t materialized. That’s because a wide open … Read moreGas Prices: East Coast Pump Prices Shrug Off Refinery Explosion

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Oil Jumps as Tanker Seizures Escalate Persian Gulf Tensions

Oil Prices Up

By Harkiran Dhillon Jul 19, 2019 (Bloomberg) – Oil jumped in after-market trading following the Iranian Revolutionary Guard Corp seizing a British oil tanker and a Liberian-flagged ship in the Strait of Hormuz, raising stakes in the critical oil chokepoint.Brent futures rose as much as 1.4% from its settlement, while WTI futures also edged higher … Read moreOil Jumps as Tanker Seizures Escalate Persian Gulf Tensions

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U.S. oil drillers cut rigs for third week in a row -Baker Hughes

July 19, 2019 Reuters  U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as drillers follow through on plans to cut spending with oil prices declining amid a global supply glut. Drillers cut five oil rigs in the week to July 19, bringing the total count … Read moreU.S. oil drillers cut rigs for third week in a row -Baker Hughes

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Gastech Exhibition & Conference – Register for Your FREE Visitor Pass: Houston – Sept 17-19, 2019

Gastech_2019_400x270 Feature

We would like to invite you to register for your free visitor pass to attend the Gastech Exhibition and join 35,000 of your gas, LNG & energy colleagues & peers! REGISTER FOR FREE From 17 – 19 September at the NRG Center in Houston, you will have the unique opportunity to: Visit the world’s largest gas, LNG … Read moreGastech Exhibition & Conference – Register for Your FREE Visitor Pass: Houston – Sept 17-19, 2019

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 19, 2019, 4:30 AM (Bloomberg) China and U.S. speak by phone, central bank easing bets mount, and it could be an interesting weekend in European politics. Here are some of the things people in markets are talking about today. Talking U.S. and Chinese senior officials spoke by phone yesterday, a USTR spokesman … Read moreFive Things to Know in World Business Today

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Heat Wave: Air Conditioning Is Making the World a Hotter Place

By Justin Fox Jul 19, 2019 (Bloomberg Opinion) With two-thirds of the U.S. experiencing a heat wave, it seems like a good time to talk about air conditioning. According to the annual Characteristics of New Housing data released by the Census Bureau early this month, 94% of the new housing units completed in the U.S. in 2018 came … Read moreHeat Wave: Air Conditioning Is Making the World a Hotter Place

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Oil Pares Steep Weekly Loss as U.S. Says It Downed Iranian Drone

By Sharon Cho and Alex Longley Jul 19, 2019 (Bloomberg) Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. Futures rose as much as 1.9% in New York, paring their steepest weekly decline … Read moreOil Pares Steep Weekly Loss as U.S. Says It Downed Iranian Drone

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

July 18, 2019 | Source: Gulfport Energy Corporation OKLAHOMA CITY, July 18, 2019 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport” or the “Company”) today provided an update for the three-months and six-months ended June 30, 2019. Key information includes the following: Net production during the second quarter of 2019 averaged 1,359.0 MMcfe per day, an … Read moreGulfport Energy Corporation Provides Second Quarter 2019 Production and Pricing and Schedules Second Quarter 2019 Financial and Operational Results Conference Call

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Martin Midstream Partners L.P. Amends and Extends Revolving Credit Facility and Announces Quarterly Cash Distribution

July 18, 2019  | Source: Martin Midstream Partners L.P. KILGORE, Texas, July 18, 2019 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (Nasdaq:MMLP) (the “Partnership”) announced today that the Partnership has successfully amended and extended its revolving credit facility.  The amended facility extends the maturity date by approximately 3.4 years to August 2023, decreases the borrowing capacity … Read moreMartin Midstream Partners L.P. Amends and Extends Revolving Credit Facility and Announces Quarterly Cash Distribution

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Apache Completes Midcon Asset Sales; Provides Second-Quarter Supplemental Information and Schedules Results Conference Call for August 1, 2019, at 10 a.m. Central Time

July 18, 2019 | Source: Apache Corporation HOUSTON, July 18, 2019 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, NASDAQ: APA) today announced the completion of asset sales in the midcontinent and provided supplemental information regarding certain second-quarter 2019 financial and operational results. Asset sales In May and July, Apache closed the sale of noncore assets in two … Read moreApache Completes Midcon Asset Sales; Provides Second-Quarter Supplemental Information and Schedules Results Conference Call for August 1, 2019, at 10 a.m. Central Time

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U.S. natgas futures little changed after near normal storage build

July 18, 2019 Reuters U.S. natural gas futures were trading near flat on Thursday after paring earlier gains after the release of a government report showing a near normal storage build last week allowed the market to focus on forecasts for cooler weather and lower demand next week than previously expected. Traders noted prices had been … Read moreU.S. natgas futures little changed after near normal storage build

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U.S. summer natgas prices on track to be lowest in over 20 years -EIA

July 18, 2019 Reuters U.S. spot natural gas prices this summer at the Henry Hub benchmark in Louisiana were on track to be the lowest since 1998 due to relatively mild weather in June, according to a forecast by the U.S. Energy Information Administration (EIA). That cooler weather early in the summer led power generators to … Read moreU.S. summer natgas prices on track to be lowest in over 20 years -EIA

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 18, 2019 (Bloomberg)Trade talks difficulty, Iran’s Hormuz threat, and another big day for earnings. Here are some of the things people in markets are talking about today. Key demands President Donald Trump’s continued complaints about China’s lack of agricultural concessions and Beijing’s insistence on the easing of trade restrictions on technology giant Huawei Technologies Co. mean … Read moreFive Things to Know in World Business Today

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A $2 Billion Gas Pipe Is Rare Flashpoint on Friendly Texas Turf

By Rachel Adams-Heard Jul 17, 201 (Bloomberg)A Kinder Morgan Inc.-led natural gas conduit is getting blowback in a place that’s so far been a refuge for the embattled pipeline industry: Texas. And it comes as drillers in the Lone Star state need pipeline space more than ever. The $2 billion Permian Highway Pipeline would carry … Read moreA $2 Billion Gas Pipe Is Rare Flashpoint on Friendly Texas Turf

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GE Sells Solar-Business Stake to BlackRock

By Richard Clough and Brian Eckhouse Jul 17, 2019 (Bloomberg) General Electric Co. agreed to sell a majority stake in a solar-energy business to BlackRock Inc., giving the investment giant footing in a growing market as the ailing manufacturer shifts its focus elsewhere. A fund managed by BlackRock’s Real Assets unit will own 80% of … Read moreGE Sells Solar-Business Stake to BlackRock

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What Do Millennials Want in A Perfect Job?

By Sophie Alexander (Bloomberg) Welcome to Bloomberg Work Wise, a series of reports aimed at helping young professionals navigate their way to financial and career success. To learn how your salary stacks up and how much your dream job might pay, try our career calculator.The cliche about young professionals in America (one of them anyway) is … Read moreWhat Do Millennials Want in A Perfect Job?

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Oil Rises After Iran Confirms It Seized Fuel Tanker in the Gulf

By Alex Longley  Jul 18, 2019 Oil extended gains after Iran confirmed it had seized a foreign oil tanker in the Persian Gulf earlier this week. Brent crude gained as much as 1.3%, reversing some of the heavy losses the global benchmark suffered in the previous two sessions. Iran’s Revolutionary Guards said it captured a foreign … Read moreOil Rises After Iran Confirms It Seized Fuel Tanker in the Gulf

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U.S. approves Kinder Morgan’s proposed Mississippi Gulf LNG export plant

July 17, 2019 U.S. energy regulators approved Kinder Morgan Inc’s application to build a liquefied natural gas (LNG) export facility at its Gulf LNG plant in Mississippi: * The U.S. Federal Energy Regulatory Commission (FERC) said in a filing late on Tuesday that the new export terminal will include two liquefaction trains with the capacity … Read moreU.S. approves Kinder Morgan’s proposed Mississippi Gulf LNG export plant

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Stratas Advisors Upgrades its Oil Price Outlooks

July 17, 2019 PR Newswire HOUSTON, July 17, 2019 /PRNewswire/ — Stratas Advisors has slightly raised its 2019 and 2020 oil price outlooks after seeing stronger than expected second quarter prices. “As we have discussed previously, volatility is the name of the game this year as fundamentals nearing balance means that spot prices are often set by sentiment and … Read moreStratas Advisors Upgrades its Oil Price Outlooks

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Enbridge delays open season for bids on Mainline oil pipeline system -sources

July 17, 2019 Reuters Enbridge Inc has delayed the start of an open season to solicit bids for contracted space on its Mainline oil pipeline system, North America’s largest oil-shipping network, three market sources told Reuters on Wednesday. The reason for the delay was not immediately clear. Canadian pipeline company Enbridge plans to turn the Mainline … Read moreEnbridge delays open season for bids on Mainline oil pipeline system -sources

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Cardinal Energy cleaning up after 320,000 litres of oil and produced water spills

SWAN HILLS, Alta. — A large spill of crude oil and produced water at a Cardinal Energy facility near Swan Hills is being cleaned up.
The Alberta Energy Regulator has few details about Saturday’s spill on its compliance reporting website.
It says 320,0…

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U.S. crude stockpiles fall in latest week – EIA

July 17, 2019 Reuters U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.1 million barrels in the last week, compared with analysts’ expectations for a decrease of 2.7 million barrels. Crude stocks at the Cushing, Oklahoma, delivery … Read moreU.S. crude stockpiles fall in latest week – EIA

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Pemex Plan to Reverse Oil Drop, Balance Budget Fails to Impress

By Amy Stillman and Eric Martin Jul 16, 2019 (Bloomberg) Mexico’s Petroleos Mexicanos announced plans to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year. The peso and the company’s bonds weakened on skepticism that the strategy to achieve those goals will be effective. … Read morePemex Plan to Reverse Oil Drop, Balance Budget Fails to Impress

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Fast and Lean: How North Sea Oil Is Learning From American Shale

Offshore drilling

By Eddie Spence Jul 17, 2019 The U.S. oil boom changed the petroleum industry forever. Now its philosophy is being adopted by conventional producers in the North Sea. Motivated by lower crude prices and higher volatility, many companies are favoring smaller and nimbler investments known as “short-cycle projects.” That term — first coined in American … Read moreFast and Lean: How North Sea Oil Is Learning From American Shale

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 17, 2019 (Bloomberg)Trump bangs the tariff drum again, debt limit talks, and Wall Street earnings roll in. Here are some of the things people in markets are talking about today. Tariff reminder President Donald Trump reiterated that he could add more tariffs to Chinese imports  if he wants. His comments hit stocks in the … Read moreFive Things to Know in World Business Today

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Oil Rises as U.S. Trade and Iran Tensions Linger Over Market

By Alex Longley  Jul 17, 2019 Oil reversed part of its biggest loss in two weeks as the Trump administration revived threats of new China tariffs and signaled a possible easing of tensions with Iran. Futures rose 1% in New York after tumbling 3.3% on Tuesday. U.S. President Donald Trump reiterated that he could impose additional duties … Read moreOil Rises as U.S. Trade and Iran Tensions Linger Over Market

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North Dakota natgas output slips from monthly record high, flaring eases

July 16, 2019 Reuters Natural gas production in North Dakota slipped to 2.822 billion cubic feet per day (bcfd) in May from a record high of 2.833 bcfd in April, while the amount of gas flared during the month declined, according to the North Dakota Industrial Commission:  Producers in the state burned off or flared 0.532 … Read moreNorth Dakota natgas output slips from monthly record high, flaring eases

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PERMIAN WATCH: America’s Hottest Shale Play Is Slowing Down

By Ryan Collins Jul 16, 2019 (Bloomberg) The engine of America’s shale boom is beginning to sputter. Slowing Growth The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing some signs of waning. Oil flows from the formation spanning West Texas and New Mexico are set to … Read morePERMIAN WATCH: America’s Hottest Shale Play Is Slowing Down

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Comstock Resources Announces Closing of Covey Park Energy Merger

July 16, 2019| Source: Comstock Resources, Inc. Frisco, TX, July 16, 2019 (GLOBE NEWSWIRE) —  COMSTOCK RESOURCES ANNOUNCES CLOSING OF COVEY PARK ENERGY MERGER FRISCO, TX, July 16, 2019 – Comstock Resources, Inc. (NYSE: CRK) (“Comstock” or the “Company”) today announced that it has closed the previously announced acquisition of Covey Park Energy LLC (“Covey Park”) in … Read moreComstock Resources Announces Closing of Covey Park Energy Merger

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U.S. natgas futures fall on forecasts of less hot weather, rising output

Natural Gas

July 16, 2019  Reuters U.S. natural gas futures on Tuesday fell more than 3% to their lowest in over a week on forecasts for less hot weather over the next two weeks than previously forecast and a slow return of production from the Gulf of Mexico after Tropical Storm Barry. Front-month gas futures for August … Read moreU.S. natgas futures fall on forecasts of less hot weather, rising output

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Five Things to Know in World Business Today

World Business

By Sam Unsted  Jul 16, 2019 (Bloomberg) Good morning. Increasingly hostile Brexit talks, phone calls about trade and the debate surrounding Facebook’s Libra cryptocurrency. Here’s what’s moving markets. Hostile Talks The meeting held between the chief negotiators on either side of Brexit was among the most difficult encounters held in the past three years, according to European … Read moreFive Things to Know in World Business Today

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Oil Steady on Lower U.S. Stockpile Forecast While Storm Eases

By Tsuyoshi Inajima and Alex Longley  Jul 16, 2019 (Bloomberg) Oil traded near $60 a barrel amid forecast U.S. crude inventories fell for a fifth week, while some production in the Gulf of Mexico is returning as a tropical storm eased.Futures were up 0.2% in New York after sliding 1.1% on Monday. Oil producers and refiners along … Read moreOil Steady on Lower U.S. Stockpile Forecast While Storm Eases

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Permian M&A activity heats up as Callon Petroleum set to buy Carrizo Oil & Gas in $3.2 bln deal

July 15, 2019 Reuters Callon Petroleum Co (CPE.N) said on Monday it would buy Carrizo Oil & Gas Inc (CRZO.O) in a $3.2 billion deal, the latest in a string of acquisitions as energy companies scale up to boost cash flow in the face of investor criticism.Energy companies have been under pressure to cut costs and … Read morePermian M&A activity heats up as Callon Petroleum set to buy Carrizo Oil & Gas in $3.2 bln deal

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Sanchez Energy Enters Interest Payment Grace Period to Continue Discussions with Stakeholders

Business Operations Continuing in the Normal Course July 15, 2019 | Source: Sanchez Energy Corporation HOUSTON, July 15, 2019 (GLOBE NEWSWIRE) — Sanchez Energy Corporation (“Sanchez Energy” or the “Company”) (OTC Pink: SNEC) today announced that the Company has elected to defer making an interest payment on its 6.125% Senior Notes due 2023 (the “6.125% Notes”) … Read moreSanchez Energy Enters Interest Payment Grace Period to Continue Discussions with Stakeholders

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U.S. Gulf of Mexico oil, gas producers begin restarting after Barry

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

July 15, 2019 Reuters U.S. oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the U.S. offshore drilling regulator said. There was 1.3 million barrels per day (bpd) of oil production off line in the U.S.-regulated areas of the Gulf … Read moreU.S. Gulf of Mexico oil, gas producers begin restarting after Barry

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Shale Fracklog Keeps Falling as Drillers Face Investor Pressure

By Stephen Cunningham Jul 15, 2019 (Bloomberg)The fracklog in major U.S. shale plays fell for a fourth straight month, the longest stretch of declines since 2016, as producers came under intense pressure from shareholders to rein in costs while boosting output.The number of drilled but uncompleted wells, or DUCs, fell by 41 to 8,248 in … Read moreShale Fracklog Keeps Falling as Drillers Face Investor Pressure

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U.S. shale oil output forecast to hit record 8.55 million bpd in August

July 15, 2019 Reuters U.S. oil output from seven major shale formations is expected to rise by about 49,000 barrels per day (bpd) in August, to a record 8.55 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday.The largest change is forecast in the Permian Basin of Texas … Read moreU.S. shale oil output forecast to hit record 8.55 million bpd in August

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U.S. natgas futures slide on less hot weather forecasts

Natural Gas

July 15, 2019 Reuters U.S. natural gas futures on Monday pulled back over 1% from a six-week high hit last week on forecasts for less hot weather over the next two weeks than previously forecast despite continued low production due to Tropical Storm Barry. Front-month gas futures for August delivery on the New York Mercantile Exchange … Read moreU.S. natgas futures slide on less hot weather forecasts

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 15, 2019 China growth slows while outlook improves, Wall Street earnings kick off, and Iran deal on its last legs. Here are some of the things people in markets are talking about today. Slowing? China’s economy slowed to the weakest pace since quarterly data began in 1992, rising 6.2% in the second quarter … Read moreFive Things to Know in World Business Today

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Oil Trades Near $60 on Storm Disruption as Glut Concerns Linger

By Saket Sundria and Alex Longley Jul 15, 2019 (Bloomberg) Oil traded near $60 a barrel after a storm shut almost three-quarters of U.S. Gulf of Mexico crude production, even as lingering demand concerns continue to dent the outlook.Futures rose 0.2% in New York. About 73% of crude output in the Gulf of Mexico was … Read moreOil Trades Near $60 on Storm Disruption as Glut Concerns Linger

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Osprey is exhibiting at the Unconventional Resources Technology Conference (URTeC) at the Colorado Convention Center in Denver July 22-24

Osprey Logo - December 2018 Update Feature

Please visit Osprey at booth 1210 & 1212 where we will co-exhibit with our partner, Infrastructure Networks (INET). During the conference we will show how our remote asset monitoring and alerting software Osprey Reach helps companies cut costs and mitigate safety and environmental risks while delivering a proven return on investment. We hope you can … Read moreOsprey is exhibiting at the Unconventional Resources Technology Conference (URTeC) at the Colorado Convention Center in Denver July 22-24

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Chevron spills 800,000 gallons of oil, water in California

By DON THOMPSON July 14, 2019 In this May 10, 2019 photo provided by the California Department of Fish and Wildlife’s Office of Spill Prevention and Response, oil flows at a Chevron oil field in Kern County, Calif. Nearly 800,000 gallons of oil and water has seeped from the ground since May. Chevron and California … Read moreChevron spills 800,000 gallons of oil, water in California

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

Reuters U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as drillers follow through on plans to cut spending this year. Drillers cut four oil rigs in the week to July 12, bringing the total count down to 784, the lowest since February 2018, General … Read moreU.S. oil drillers cut rigs for second week in a row – Baker Hughes

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U.S. oil companies put up $16.5 mln to build West Texas charter schools

July 14, 2019 Reuters Twenty top U.S. energy companies agreed to contribute $16.5 million to open new schools in West Texas, where an influx of oil and gas workers have strained schools, roads and other civic services.This is the first initiative by the Permian Strategic Partnership, a consortium of shale producers which has pledged to raise … Read moreU.S. oil companies put up $16.5 mln to build West Texas charter schools

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Join us at the world’s largest Operational Excellence Summit for the Oil & Gas Industry – November 4-6, 2019 | Houston, TX

The 10th Annual Operational Excellence in Oil and Gas Summit is returning to Houston November 4-6, 2019 and will bring over 300 heads of Operations leaders from North America’s largest oil and gas companies to discuss how to balance competing priorities and bridge the information silos in your business that can significantly impede safety performance. There is … Read moreJoin us at the world’s largest Operational Excellence Summit for the Oil & Gas Industry – November 4-6, 2019 | Houston, TX

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Oil Caps Weekly Gain as Strengthening Storm Buoys Fragile Market

Texas Oil Pump

By Alex Nussbaum and Grant Smith Jul 12, 2019 (Bloomberg) Oil capped its best week since mid-June as Tropical Storm Barry gained strength, approaching refineries in Louisiana and leaving deserted offshore platforms on its path. Futures in New York gained 4.7% for the week after prices held above $60 a barrel for a third day on Friday. … Read moreOil Caps Weekly Gain as Strengthening Storm Buoys Fragile Market

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Mexico’s formula to execute annual oil hedge is ready -official

July 12, 2019 Reuters Mexico has finished calibrating the formula used as a basis for its massive oil hedging program, a finance ministry official said on Friday, clearing a major obstacle for the hedge, the world’s largest and most secretive Wall Street oil trade.Mexico buys as much as $1 billion worth of financial derivatives in order … Read moreMexico’s formula to execute annual oil hedge is ready -official

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California governor criticizes increase in fracking permits

SACRAMENTO, Calif. — California Gov. Gavin Newsom said Friday he wants to move the nation’s most populous state away from hydraulic fracturing, a day after he fired the state’s top oil and gas regulator for issuing twice as many fracking permits this year compared to last. “I don’t think anyone that was paying attention, including … Read moreCalifornia governor criticizes increase in fracking permits

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Oil Heads for Weekly Gain as Supply Risks Buoy Fragile Market

By Grant Smith and Tsuyoshi Inajima  Jul 12, 2019 (Bloomberg) Oil headed for a weekly increase as a storm in the Gulf of Mexico and simmering Middle East tensions supported the market, though the outlook remained clouded by concerns of a renewed surplus. Futures rose 0.5% in New York on Friday, pushing this week’s increase … Read moreOil Heads for Weekly Gain as Supply Risks Buoy Fragile Market

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Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says

By Grant Smith Jul 12, 2019 (Bloomberg) Global oil stockpiles swelled surprisingly in the first half of this year as production cuts by OPEC and its partners failed to prevent the return of a surplus, the International Energy Agency said. World supply exceeded demand at a rate of 900,000 barrels a day during the first … Read moreOil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says

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Cracks Show in the Permian’s Promise as Shale Producers Retrench

By Kevin Crowley and Rachel Adams-Heard Jul 12, 2019 (Bloomberg) The promise of the Permian is shrinking. Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing returns, and keeping skeptical investors away. The constraints are manifold: pipeline limits, reduced flow from … Read moreCracks Show in the Permian’s Promise as Shale Producers Retrench

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly (Bloomberg) Fed chiefs swim against dovish tide, trade-war damage piles up, and another an oil-market warning. Here are some of the things people in markets are talking about today. Not so fast.. Markets have a July rate cut from the Federal Reserve as the base case following Chair Jerome Powell’s two-day testimony to … Read moreFive Things to Know in World Business Today

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Ultra Petroleum Corp. Announces Termination of Exchange Offer for 7.125% Senior Notes due 2025

July 11, 2019 22:32 ET | Source: Ultra Petroleum Corp. ENGLEWOOD, Colo., July 11, 2019 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (NASDAQ: UPL) today announced that it terminated its previously announced private offer to exchange (the “Exchange Offer”) outstanding 7.125% Senior Notes due 2025 (the “2025 Notes”) of its wholly owned subsidiary, Ultra … Read moreUltra Petroleum Corp. Announces Termination of Exchange Offer for 7.125% Senior Notes due 2025

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U.S. natgas futures fall on cooler midday forecast, big storage build

Natural Gas

July 11, 2019 Reuters U.S. natural gas futures fell on Thursday, a day after hitting a five-week high, as midday forecasts called for less hot weather over the next two weeks than previously expected.The forecast, combined with a bigger-than-expected storage build and reduced gas flow to liquefied natural gas (LNG) export terminals, offset a big output … Read moreU.S. natgas futures fall on cooler midday forecast, big storage build

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More American LNG Set to Land in Glutted Gas Markets

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

By Anna Shiryaevskaya Jul 12, 2019 Six decades after British Gas imported the world’s first seagoing cargo of liquefied natural gas from the U.S., the company’s successor is preparing to repeat the act, but with a whole different set of challenges.A global glut of LNG on the back of new production facilities has caused prices to crash … Read moreMore American LNG Set to Land in Glutted Gas Markets

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Intensifying storm shuts U.S. coastal refinery, adding to energy production losses

July 11, 2019 Reuters Tropical Storm Barry intensifies over Gulf Threatened flooding from a tropical storm in the U.S. Gulf of Mexico that cut nearly a third of the region’s oil production has forced the shutdown of a coastal refinery, pushing oil and gasoline prices higher on Thursday.Phillips 66 said it expected to complete the closing … Read moreIntensifying storm shuts U.S. coastal refinery, adding to energy production losses

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Saudis Do Heavy Lifting on OPEC+ Cuts as U.S. Shale Oil Surges

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

By Anthony DiPaola Jul 11, 2019 (Bloomberg) Saudi Arabia is fulfilling its pledge to make deeper cuts in oil output than the OPEC+ agreement on output requires, according to the first indication of the kingdom’s production since the supplier group extended curbs earlier this month.The de facto leader of the Organization of Petroleum Exporting Countries … Read moreSaudis Do Heavy Lifting on OPEC+ Cuts as U.S. Shale Oil Surges

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 11, 2019 (Bloomberg) Day two of Powell, things are heating up in the Persian Gulf, and ECB minutes due. Here are some of the things people in markets are talking about today. Over easy Fed Chairman Jerome Powell is in the Senate today for his second day of congressional testimony, scheduled … Read moreFive Things to Know in World Business Today

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OPEC Sees New Oil Surplus in 2020 as U.S. Shale Keeps Surging

By Grant Smith Jul 11, 2019 (Bloomberg) A week after OPEC agreed to keep oil production restrained until early next year, the group’s first forecasts for 2020 showed it faces an even longer and tougher challenge.The Organization of Petroleum Exporting Countries, which pumps 40% of the world’s oil, estimated that it’s producing about 560,000 barrels … Read moreOPEC Sees New Oil Surplus in 2020 as U.S. Shale Keeps Surging

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U.S. oil producers shut offshore output as storm forms in Gulf of Mexico

July 10, 2019 Reuters Anadarko Petroleum Corp (APC.N) has joined major U.S. oil producers shutting production and withdrawing staff from offshore platforms in the U.S. Gulf of Mexico ahead of a storm threatening oil-producing areas.U.S. oil prices climbed 2.7% on Wednesday as more producers shut production and removed workers at Gulf oil and gas platforms. A … Read moreU.S. oil producers shut offshore output as storm forms in Gulf of Mexico

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Oil Rises to Seven-Week High on Gulf Storm, U.S. Stockpile Draw

Oil Tanker in U.S.

By Tsuyoshi Inajima and Grant Smith Jul 11, 2019 (Bloomberg) Oil extended gains after closing at a seven-week high as a third of the Gulf of Mexico’s crude output was halted by a storm and U.S. crude inventories declined more than expected. Futures in New York rose as much as 0.8% after settling above $60 … Read moreOil Rises to Seven-Week High on Gulf Storm, U.S. Stockpile Draw

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Trump Defends Refinery Waivers By Noting Expanded Ethanol Sales

By Mario Parker and Jennifer A. Dlouhy Jul 10, 2019 Donald Trump has cited his move to allow year-round sales of high-ethanol gasoline as farmers pressure him to dial back decisions to exempt oil refineries from biofuel-blending mandates, signaling the president sees the two issues as related.Agriculture advocates have told Trump that his ethanol change … Read moreTrump Defends Refinery Waivers By Noting Expanded Ethanol Sales

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Oil Rises to Seven-Week High on Gulf Storm, U.S. Stockpiles Draw

By Tsuyoshi Inajima  Jul 10, 2019 Oil extended gains after closing at a seven-week high as around a third of the Gulf of Mexico’s crude output was cut before a potential hurricane and U.S. crude inventories shrunk more than expected. Futures edged higher in New York after climbing 4.5% on Wednesday to close above $60 … Read moreOil Rises to Seven-Week High on Gulf Storm, U.S. Stockpiles Draw

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Activists Seizing Control of EQT Need to Soothe Wary Shale Investors

By Scott Deveau and Naureen S. Mal July 10, 2019 The activist shareholders who have seized control of EQT Corp., the largest U.S. natural gas producer, have a lot to prove to shale investors burned by lousy earnings and busted budgets. Brothers Toby and Derek Rice, who sold their company to EQT about two years … Read moreActivists Seizing Control of EQT Need to Soothe Wary Shale Investors

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Worldwide investments in clean energy projects have hit a six-year low.

By Gerald Porter Jr. Jul 10, 2019 (Bloomberg) Worldwide investments in clean energy projects have hit a six-year low.Global spending totaled $117.6 billion in the first half of 2019, down 14% from a year earlier and the least since 2013, according to a report by BloombergNEF. Investments slowed in all three major markets — the … Read moreWorldwide investments in clean energy projects have hit a six-year low.

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Guess What’s Holding Back Wind Power in the U.S.

Wind Turbines

By Peter R. Orszag Jul 10, 2019 The cost of wind energy has dropped drastically over the past several decades as the technology has advanced, especially in the size of turbines. Since 2009, the unsubsidized average cost of onshore wind-energy production has fallen to 4.2 cents per kilowatt hour, from 13.5 cents in 2018, according … Read moreGuess What’s Holding Back Wind Power in the U.S.

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Workers Evacuate Gulf of Mexico Rigs as Storm Gains Strength

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 Mike Jeffers and Brian K. Sullivan Jul 10, 2019 Oil and natural gas producers in the U.S. Gulf of Mexico began evacuating workers and shutting in output as a storm gathers strength off the coast of Florida.The system sitting 100 miles (160 kilometers) southwest of Apalachicola, Florida, has a 90% chance of organizing into … Read moreWorkers Evacuate Gulf of Mexico Rigs as Storm Gains Strength

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Activists Take Control of EQT Board in Proxy Fight

By Scott Deveau and Naureen S. Malik Jul 10, 2019 Activist investors have won control of the board at EQT Corp., bringing to an end a nine-month battle for the largest U.S. natural gas producer. Brothers Toby and Derek Rice, who sold their company to EQT about two years ago and together own 3% of … Read moreActivists Take Control of EQT Board in Proxy Fight

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 10, 2019, 4:30 AM (Bloomberg) Powell set to give Congressional testimony, U.S.- China trade talks restart and outlook for euro-area growth cut. Here are some of the things people in markets are talking about today. Powell in the House Federal Reserve Chair Jerome Powell starts his semi-annual monetary policy testimony to Congress at 10 a.m. … Read moreFive Things to Know in World Business Today

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Big Oil Poised to Flood Market With Wave of Gulf Coast Plastic

By Andres Guerra Luz, Rachel Adams-Heard and Kevin Crowley Jul 10, 2019 (Bloomberg) The world’s biggest oil and chemical companies are about to unleash a tidal wave of plastic raw materials by the mid-2020s, tapping cheap shale gas to meet growing demand from makers of everything from toys to plumbing to consumer goods.Exxon Mobil Corp., … Read moreBig Oil Poised to Flood Market With Wave of Gulf Coast Plastic

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Occidental to Announce Second Quarter Results Wednesday, July 31, 2019; Hold Conference Call Thursday, August 1, 2019

July 09, 2019 09:00 ET | Source: Occidental Petroleum Corporation HOUSTON, July 09, 2019 (GLOBE NEWSWIRE) — Occidental Petroleum Corporation (NYSE:OXY) will announce its second quarter 2019 financial results after close of market on Wednesday, July 31, 2019, and will hold a conference call to discuss results on Thursday, August 1, 2019, at 12 p.m. Eastern/11 a.m. Central. The … Read moreOccidental to Announce Second Quarter Results Wednesday, July 31, 2019; Hold Conference Call Thursday, August 1, 2019

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Rattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Schedules Second Quarter 2019 Conference Call for August 7, 2019

July 09, 2019  | Source: Rattler Midstream LP MIDLAND, Texas, July 09, 2019 (GLOBE NEWSWIRE) — Rattler Midstream LP (NASDAQ: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it plans to release second quarter 2019 financial results on August 6, 2019 after the market closes. In connection with the earnings … Read moreRattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Schedules Second Quarter 2019 Conference Call for August 7, 2019

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Two Brothers Lead a Showdown With U.S. Natural Gas Giant

By Naureen S. Malik Jul 9, 2019 (Bloomberg) The nine-month battle for control of America’s largest natural gas producer has come down to a choice: The old guard, or the “shalennials.” Absent a settlement before EQT Corp.’s annual meeting in Pittsburgh on Wednesday, shareholders will decide between competing rosters of candidates for the board of … Read moreTwo Brothers Lead a Showdown With U.S. Natural Gas Giant

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The True Price of Electric Cars -Thousands of job losses

By Lionel Laurent Jul 8, 2019 (Bloomberg Opinion) Most people will be happy to see the back of the combustion engine. Cleaner air and less dependence on oil are good reasons to look forward to the mass adoption of electric cars.But for the 3 million or so Europeans working in the auto industry, the transition to … Read moreThe True Price of Electric Cars -Thousands of job losses

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 9, 2019 (Bloomberg) Investors start to distance themselves from Deutsche Bank, a plethora of central bank speakers, and U.S.-U.K. diplomatic spat escalates. Here are some of the things people in markets are talking about today. Negative assessment Skepticism about Deutsche Bank’s mammoth turnaround plan is mounting, if the lender’s market price is … Read moreFive Things to Know in World Business Today

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Oil Steadies Before Fed Testimony While Mideast Risks Linger

By Sharon Cho and Grant Smith Jul 9, 2019 (Bloomberg) Oil steadied near $58 a barrel in New York as investors awaited guidance from the Federal Reserve on interest rates and as tensions in the Persian Gulf maintained the risk of supply disruption.West Texas Intermediate futures added 0.2%, recouping earlier losses. Fed Chairman Jerome Powell … Read moreOil Steadies Before Fed Testimony While Mideast Risks Linger

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Russia’s Dirty Oil Crisis Leaves Pipe Giant With a Few Scars

By Olga Tanas and Dina Khrennikova Jul 8, 2019 As the biggest disruption to Russian oil flows in decades draws to a close the country’s European market looks remarkably unscathed, but its pipeline operator bears a few scars.For Transneft PJSC — the giant company that runs enough pipes to wrap five times round the Earth … Read moreRussia’s Dirty Oil Crisis Leaves Pipe Giant With a Few Scars

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United Hunter Oil & Gas Corp. Provides Operational Update in Texas

July 08, 2019  Source: United Hunter Oil & Gas Corp. VANCOUVER, British Columbia, July 08, 2019 (GLOBE NEWSWIRE) — United Hunter Oil & Gas Corp. (TSX-V: UHO) and Frankfurt: A118VK) (the “Corporation” or “UHO”) is pleased to provide an update on the Corporation’s recent activities. Management of the Corporation has identified and reviewed numerous internationally … Read moreUnited Hunter Oil & Gas Corp. Provides Operational Update in Texas

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7 Ways to Set Up a New Hire for Success

Harvard Business Review

Michael D. Watkins No one has a bigger impact on new employees’ success than the managers who hired them. Why? Because more than anyone else the hiring manager understands what his or her people need to accomplish and what it will take — skills, resources, connections — for them to become fully effective. Managers also … Read more7 Ways to Set Up a New Hire for Success

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Oil Holds Above $57 as Iran Tension Keeps Investors Wary

By Tsuyoshi Inajima and Grant Smith Jul 7, 2019 (Bloomberg)Oil held above $57 as rising tension in the Middle East kept investors wary of potential supply disruptions.Futures in New York were little changed after rallying 2.2% over the previous three sessions. European powers urged Iran to reverse its decision to breach the levels of uranium enrichment restrictions … Read moreOil Holds Above $57 as Iran Tension Keeps Investors Wary

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jul 8, 2019 Deutsche Bank’s radical overhaul, Turkey’s central bank loses its head, and the Fed’s no-win situation. Here are some of the things people in markets are talking about today. One in five Deutsche Bank AG’s radical overhaul announced over the weekend includes cutting 20% of the lender’s global workforce, exiting its equities … Read moreFive Things to Know in World Business Today

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Oil Tankers Dodge Top Mideast Refueling Hub After Ship Attacks

By Anthony DiPaola Jul 7, 2019 Oil tanker owners are avoiding sending their ships to the Middle East’s main refueling hub after a spate of attacks on vessels in the past two months ratcheted up tensions and highlighted the growing risks of operating in the region. Strikes on tankers just outside the Persian Gulf in … Read moreOil Tankers Dodge Top Mideast Refueling Hub After Ship Attacks

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Philadelphia Refinery Woe Boosts U.S. East Coast Margins

By Harkiran Dhillon  Jul 5, 2019 U.S. East Coast refining margins have more than doubled in the past month, helped by weakening physical crude markets and a fire that crippled the biggest facility in the region.Last week, Philadelphia Energy Solutions announced it plans to close after a fire in late June, it’s second that month, destroyed most … Read morePhiladelphia Refinery Woe Boosts U.S. East Coast Margins

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Baker Hughes, a GE company Announces June 2019 Rig Counts

July 3, 2019 Business Wire HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for June 2019 was 1,138, up 12 from the 1,126 counted in May 2019, and up 179 from the 959 counted in June 2018. The international offshore rig count for June 2019 was … Read moreBaker Hughes, a GE company Announces June 2019 Rig Counts

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Shale Drilling Slips Back to One-Year Low as Oil Rally Falters

July 7, 2019 U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as drillers follow through on plans to cut spending this year.Drillers cut five oil rigs in the week to July 3, bringing the total count down to 788, General Electric Co’s Baker Hughes … Read moreShale Drilling Slips Back to One-Year Low as Oil Rally Falters

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Oil prices rise on Iran tensions, OPEC output cuts

July 5, 2019 Reuters Oil futures rose on Friday as tensions over Iran and an extension to output cuts by OPEC and its allies boosted prices, but mixed economic data limited the rally. Brent crude futures settled at $64.23 a barrel, up 93 cents, or 1.47%. U.S. West Texas Intermediate (WTI) settled at $57.51 a barrel, … Read moreOil prices rise on Iran tensions, OPEC output cuts

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Oil Set for Weekly Decline as Dollar Jumps After Payrolls Data

By Heesu Lee and Alex Longley  Jul 5, 2019 (Bloomberg) Oil is set for its biggest weekly decline since mid-June as the dollar rose after U.S. payroll figures beat analyst expectations. Futures fell as much as 1.8% in New York on Friday from Wednesday’s close as payrolls climbed by 224,000 in June. Anxiety over oil … Read moreOil Set for Weekly Decline as Dollar Jumps After Payrolls Data

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Billionaire U.S. Coal Baron Chris Cline Dies in Helicopter Crash

By Lynn Doan Jul 5, 2019 Christopher Cline, the billionaire coal tycoon best known for reviving Illinois’s mining industry and making a fortune doing it, died in a helicopter crash Thursday.Cline died in an accident off the coast of the Bahamas that also killed six other people, Brian Glasser, an attorney who represented Cline, said … Read moreBillionaire U.S. Coal Baron Chris Cline Dies in Helicopter Crash

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly (Bloomberg) It’s jobs day, Deutsche Bank’s massive cuts, and China sticks to its guns on trade. Here are some of the things people in markets are talking about today. Payrolls Employers in the U.S. are expected to have added 160,000 positions in June, according to a Bloomberg survey of economists, with the unemployment rate projected … Read moreFive Things to Know in World Business Today

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Five Things to Know in World Business Today

World Business

China trade talks resume as Donald Trump says Beijing and Europe are playing a “currency manipulation game.” Asia equity futures are higher after the Dow hits a record. And Boeing offers $100 million in “outreach” to Max crash victims’ families. Here are some of the things people in markets are talking about today. Currency Game U.S. and Chinese officials will … Read moreFive Things to Know in World Business Today

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Oil Falls as Smaller U.S. Stockpile Drop Adds to Economic Woes

By Heesu Lee and Alex Longley Jul 3, 2019 Oil declined as a smaller-than-expected draw in U.S. inventories added bearish sentiment to a market already reeling from gloomy economic news.Futures fell as much as 1.5% in New York after gaining 1.9% on Wednesday. While American crude and gasoline stockpiles both fell for a third week, … Read moreOil Falls as Smaller U.S. Stockpile Drop Adds to Economic Woes

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Commentary: OPEC+ Should Be Careful With Its Time Machine – Liam Denning

By Liam Denning Jul 2, 2019 OPEC+ is having a debate about time. Esoteric as it sounds, the positions taken would be the difference between stable oil prices and a monumental price spike.Khalid Al-Falih, Saudi Arabia’s energy minister, raised the topic this week of shifting the oil-producer club’s target. Since late 2016, OPEC+ has aimed … Read moreCommentary: OPEC+ Should Be Careful With Its Time Machine – Liam Denning

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly The never-ending bond rally doesn’t end, new ECB and Fed picks, and PMI data points to downturn. Here are some of the things people in markets are talking about today. New lows The global sovereign bond rally continues apace this morning. The yield on 10-year Treasuries dropped to the lowest level in more than … Read moreFive Things to Know in World Business Today

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BP Says Some of Its Oil ‘Won’t See the Light of Day’

By Kelly Gilblom Jul 2, 2019 Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP Plc to conclude some of its resources “won’t see the light of day,” according to its head of strategy. Some of the “more complicated to extract” resources in the British oil major’s portfolio … Read moreBP Says Some of Its Oil ‘Won’t See the Light of Day’

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Oil Plunges in Worst Reaction to OPEC Since 2014 on Demand Woes

Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader

By Alex Nussbaum and Alex Longley (Bloomberg) Oil had its worst reaction to an OPEC meeting in more than four years, with prices sliding just after the cartel agreed to prolong production curbs as fears about the global economy mount.Futures closed down 4.8% in New York, the steepest decline since May 31 and the biggest drop after … Read moreOil Plunges in Worst Reaction to OPEC Since 2014 on Demand Woes

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Greenfields Petroleum Corporation Announces Appointment of New CFO and Treasurer, New Location of Corporate Headquarters and Extension of Senior Secured Debt Payments

July 02, 2019| Source: Greenfields Petroleum Corporation HOUSTON, July 02, 2019 (GLOBE NEWSWIRE) — Greenfields Petroleum Corporation (the “Company” or “Greenfields“) (TSX VENTURE: GNF), an independent exploration and production company with producing assets in Azerbaijan, announces the appointment of a new Chief Financial Officer and Treasurer. Mr. Jose Perez-Bello, who has served as the Senior Vice President, … Read moreGreenfields Petroleum Corporation Announces Appointment of New CFO and Treasurer, New Location of Corporate Headquarters and Extension of Senior Secured Debt Payments

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Chaparral Energy Joins Russell 3000® Index

July 02, 2019 16:30 ET | Source: Chaparral Energy Inc OKLAHOMA CITY, July 02, 2019 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (NYSE: CHAP) announced today the company was added to the Russell 3000® Index on July 1 as part of the 2019 Russell U.S. Indexes reconstitution. “Chaparral is pleased to be included in the Russell 3000® Index,” said Chaparral … Read moreChaparral Energy Joins Russell 3000® Index

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TC Energy enters agreement to sell Columbia Midstream assets for US$1.275 billion

July 02, 2019  Source: TC Energy Corporation CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) — News Release — TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services, LLC, a subsidiary of … Read moreTC Energy enters agreement to sell Columbia Midstream assets for US$1.275 billion

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Saudi Aramco to Restart Preparations for Mega IPO

By Dinesh Nair, Archana Narayanan and Matthew Martin (Bloomberg) Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said.Aramco, the world’s most profitable company, recently held talks with a select group of investment banks to discuss … Read moreSaudi Aramco to Restart Preparations for Mega IPO

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly U.S. looks to hit Europe with tariffs, mega-IPO is back on, and the bond market is still in rally mode. Here are some of the things people in markets are talking about today. This again The never-ending dispute between the U.S. and Europe over support to subsidy-reliant aircraft manufacturers Boeing Co. and Airbus … Read moreFive Things to Know in World Business Today

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Oil Steady as OPEC Pact Contends With Gloomy Economic Data

By Heesu Lee and Alex Longley Jul 1, 2019 Oil steadied as investors weighed OPEC’s extending output cuts into 2020 against troubling economic data from around the world. Futures fell 0.2% in New York after closing 1.1% higher on Monday. OPEC ministers agreed to maintain production curbs for another nine months, and their allies are … Read moreOil Steady as OPEC Pact Contends With Gloomy Economic Data

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Halliburton and Other Drillers Are Fighting for New Life in a World of Cheap Oil – Part 2 of 5

By David Wethe (Bloomberg) —For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival. Five years after crude began its plunge to less than $30 a barrel from more than $100, the companies that drill and frack wells are living in a new world. The producers they work for have … Read moreHalliburton and Other Drillers Are Fighting for New Life in a World of Cheap Oil – Part 2 of 5

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All Ministers Agree to 9-Month Oil-Cuts Extension: OPEC+ Update

By Annmarie Hordern, Nayla Razzouk and Golnar Motevalli Jul 2, 2019 Oil ministers from OPEC’s partner nations have ratified the group’s decision to keep cutting production. At a meeting in Vienna, members of the Organization of Petroleum Exporting Countries and all its allies in the OPEC+ coalition have now settled on maintaining quotas for another … Read moreAll Ministers Agree to 9-Month Oil-Cuts Extension: OPEC+ Update

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Saudis Dig In for Shale Fight as OPEC+ Extends Cuts Into 2020

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

By Nayla Razzouk, Fred Pals and Dina Khrennikova Jul 1, 2019 (Bloomberg) Saudi Arabia, OPEC’s dominant producer, will keep doing the heavy lifting as the cartel and its allies were all but forced to extend their effort to counter the U.S. shale boom into a fourth year.In a meeting on Tuesday, the Organization of Petroleum … Read moreSaudis Dig In for Shale Fight as OPEC+ Extends Cuts Into 2020

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Penn Virginia Announces CFO Transition

July 01, 2019 16:05 ET | Source: Penn Virginia Corporation HOUSTON, July 01, 2019 (GLOBE NEWSWIRE) — Penn Virginia Corporation (“Penn Virginia” or the “Company”) (NASDAQ:PVAC) today announced that Steven A. Hartman, Senior Vice President, Chief Financial Officer and Treasurer (“CFO”), will be stepping down from his role. Mr. Hartman will continue as CFO until a successor … Read morePenn Virginia Announces CFO Transition

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U.S. Henry Hub natgas prices for June fall to lowest in 20 years

Natural Gas

U.S. spot natural gas prices in June at the Henry Hub benchmark in Louisiana dropped to their lowest for the month since 1999 as record production so far this year allowed utilities to inject huge amounts of gas into storage. Next-day prices averaged $2.40 per million British thermal units (mmBtu) in June. That compares with … Read moreU.S. Henry Hub natgas prices for June fall to lowest in 20 years

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Trade truce, OPEC meeting, and global manufacturing continues to suffer. Here are some of the things people in markets are talking about today. Talks to resume President Donald Trump declared that the U.S. is winning the trade war after he reached a temporary truce with Chinese President Xi Jinping. Trump said he would hold … Read moreFive Things to Know in World Business Today

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Infrastructure and Energy Alternatives, Inc. Announces Two Wind Contract Awards in Texas Valued, Together, at $150 Million

July 01, 2019 08:00 ET | Source: Infrastructure and Energy Alternatives, Inc. INDIANAPOLIS, July 01, 2019 (GLOBE NEWSWIRE) — Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with specialized energy and heavy civil expertise, today announced two new wind energy project awards valued at approximately $150 million. One award … Read moreInfrastructure and Energy Alternatives, Inc. Announces Two Wind Contract Awards in Texas Valued, Together, at $150 Million

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Martin Midstream Partners L.P. Completes Sale of Natural Gas Storage Assets

July 01, 2019| Source: Martin Midstream Partners L.P. KILGORE, Texas, July 01, 2019 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (the “Partnership”) (NASDAQ: MMLP) announces the completion of the sale of its membership interests in Arcadia Gas Storage, LLC, Cadeville Gas Storage LLC, Monroe Gas Storage Company, LLC and Perryville Gas Storage LLC to Hartree Cardinal Gas, … Read moreMartin Midstream Partners L.P. Completes Sale of Natural Gas Storage Assets

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U.S. drillers add rigs for second week in a row – Baker Hughes

Reuters U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with oil futures up about 12% over the past couple of weeks despite plans by most producers to cut spending on new drilling this year. The rig count, however, was still down 92, or 10%, … Read moreU.S. drillers add rigs for second week in a row – Baker Hughes

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Oil Jumps as OPEC+ Signals Extended Cuts, U.S.-China Hit Pause

Oil Prices Up

By Ben Sharples and Saket Sundria (Bloomberg) Oil jumped to a five-week high after Saudi Arabia and Russia signaled their support for an extension of OPEC+ output cuts and a U.S.-China agreement to restart trade talks improved the demand outlook. Futures rose as much as 2.8% after rallying more than 11% over the past two … Read moreOil Jumps as OPEC+ Signals Extended Cuts, U.S.-China Hit Pause

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OPEC Set to Extend Output Cuts Into 2020 as Demand Falters

By Grant Smith, Nayla Razzouk and Dina Khrennikova  Jul 1, 2019 (Bloomberg) The OPEC+ alliance is poised to extend production cuts into 2020 as the world’s leading oil exporters fret about a weakening outlook for global demand growth and the relentless rise in output from America’s shale fields. At the start of two days of … Read moreOPEC Set to Extend Output Cuts Into 2020 as Demand Falters

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Shale Fight Makes OPEC Accept Lowest Market Share Since 1991

Rig Worker

By Javier Blas (Bloomberg) For almost three decades, OPEC has always pumped at least 30% of the world’s crude oil, creating an informal floor for Saudi Arabia and its allies in the cartel. The level has survived everything from wars and economic crises to terrorist attacks and diplomatic spats.Yet, with OPEC set to extend output cuts for … Read moreShale Fight Makes OPEC Accept Lowest Market Share Since 1991

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Record Breaking: U.S. Oil Output Tops 12 Million Barrels a Day for First Time

By Stephen Cunningham and Jessica Summers Jun 28, 2019 (Bloomberg) U.S. crude output soared to new heights in April, highlighting OPEC’s dilemma just days before the producer group meets amid growing geopolitical threats.A government report on Friday showed U.S. production grew 2.1% in April to 12.16 million barrels a day. Booming shale production from places … Read moreRecord Breaking: U.S. Oil Output Tops 12 Million Barrels a Day for First Time

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EQT Wins Glass Lewis Support in Fight With Rice Brothers

By Scott Deveau Jun 29, 2019 (Bloomberg) EQT Corp., the largest U.S. natural gas producer, has won the support of a prominent shareholder advisory firm that recommended shareholders support its slate of directors over another being presented by dissident shareholders. Glass Lewis & Co. said in a report Friday that the company was headed in … Read moreEQT Wins Glass Lewis Support in Fight With Rice Brothers

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Oil Falls as EU Adds Iran Sanctions Workaround Before G-20, OPEC

By Alex Nussbaum and Alex Longley Jun 27, 2019 (Bloomberg) The U.S.-Iran standoff and shrinking American crude stockpiles propelled oil to its biggest monthly gain since January. Prices tumbled immediately before Friday’s close as traders closed positions and the EU said a workaround to Iran sanctions was in operation.Futures in New York tumbled on Friday … Read moreOil Falls as EU Adds Iran Sanctions Workaround Before G-20, OPEC

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Michigan sues Enbridge in U.S., seeks to shut oil pipeline through Great Lakes

June 28, 2019 Reuters (Reuters) – The U.S. state of Michigan has filed a lawsuit asking for an Enbridge Inc oil pipeline that runs under the Straits of Mackinac in the Great Lakes to be decommissioned, Michigan’s attorney general said on Thursday. The Line 5 oil pipeline ships 540,000 barrels per day of light crude … Read moreMichigan sues Enbridge in U.S., seeks to shut oil pipeline through Great Lakes

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jun 28, 2019 (Bloomberg) All eyes on the G-20, banks rally on stress tests, and there’s still no inflation. Here are some of the things people in markets are talking about today. Meetings The G-20 meetings have begun in Japan, and President Donald Trump has already met several world leaders including Russia’s … Read moreFive Things to Know in World Business Today

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OPEC Keen to Extend Cut, Russia Is Circumspect: Reality Check

Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader

By Christopher Sell (Bloomberg) –For an OPEC+ meeting in which the key decision over an output-cut extension is supposedly “in the bag,” according to Saudi Arabia’s Energy Minister Khalid Al-Falih, Monday’s gathering in Vienna could be as closely watched as any during the three-year coalition.The Organization of Petroleum Exporting Countries and its allies convene next … Read moreOPEC Keen to Extend Cut, Russia Is Circumspect: Reality Check

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Trump Defends His Keystone XL Pipeline Permit

Donald Trump

By Peter Blumberg and Tom Korosec Jun 27, 2019 (Bloomberg) U.S. President Donald Trump says environmentalists and Indian tribes are understating his authority in trying to block the permit he issued to revive the stalled Keystone XL oil pipeline project.Lawyers for the Trump administration says foes of the project have put forward a “blatant mischaracterization” … Read moreTrump Defends His Keystone XL Pipeline Permit

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Oil Set for Best Month Since January Before Crucial Meetings

By Saket Sundria and Alex Longley Jun 27, 2019 (Bloomberg) The U.S.-Iran standoff and falling American stockpiles have propelled oil toward its biggest monthly gain since January but crucial meetings in the next few days will determine whether the rally continues. Futures in New York declined Friday, paring their advance in June to about 11%. … Read moreOil Set for Best Month Since January Before Crucial Meetings

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Five Years After Crude’s Collapse, Shale Patch Still Struggles

By Rachel Adams-Heard Jun 28, 2019, 4:00 am It’s been five years since crude started a precipitous drop that eventually saw it hit a low of $26 a barrel. While prices have recovered some of the lost ground, shale producers are still feeling the pain.Oil’s 76% collapse from almost $108 a barrel in June 2014 … Read moreFive Years After Crude’s Collapse, Shale Patch Still Struggles

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Russia’s Novak Says G-20 Talks Will Clarify Uncertain Oil Market

By Tsuyoshi Inajima, Annmarie Hordern, Dina Khrennikova and Grant Smith Jun 28, 2019, (Bloomberg) Just days before OPEC and its allies meet to discuss whether to extend oil-production cuts into the second half of the year, Russia and Iraq hinted at progress toward a deal.Discussions between leaders at the Group of 20 Summit in Japan, … Read moreRussia’s Novak Says G-20 Talks Will Clarify Uncertain Oil Market

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Summit Midstream Partners, LP Makes Final Investment Decision on Double E Pipeline Project & Secures Joint Venture Partner

June 27, 2019 PR Newswire THE WOODLANDS, Texas, June 27, 2019 /PRNewswire/ — Summit Midstream Partners, LP (NYSE: SMLP) announced today a final investment decision (“FID”) to proceed with the Double E Pipeline Project (“Double E” or the “Project”), having secured sufficient commitments pursuant to binding precedent agreements for long-term, firm transportation service and having executed definitive … Read moreSummit Midstream Partners, LP Makes Final Investment Decision on Double E Pipeline Project & Secures Joint Venture Partner

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jun 27, 2019 (Bloomberg) —Path to a G-20 breakthrough remains unclear, euro-area confidence drops to lowest level in three years, and Fed sets the size of Wall Street payouts. Here are some of the things people in markets are talking about today. Talks about talks Optimism is growing that President Donald Trump … Read moreFive Things to Know in World Business Today

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Gas prices could rise after fire-stricken refinery closes

The largest oil refinery on the East Coast said Wednesday that it will close after a devastating fire last week that set off explosions and damaged equipment, and analysts said consumers could see gas prices rise as summer travel hits full swing. Philadelphia Energy Solutions sent a notice to state labour officials that it will … Read moreGas prices could rise after fire-stricken refinery closes

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Democrats Jockey on Climate Change in a City Imperiled by It

By Jennifer A. Dlouhy and Ari Natter Jun 26, 2019 (Bloomberg) Democrats competed over who would best combat climate change during Wednesday’s debate, as they sought to show leadership on an issue of growing importance to the party’s base in a city on the front lines of the phenomenon. Washington Governor Jay Inslee, who has … Read moreDemocrats Jockey on Climate Change in a City Imperiled by It

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OPEC+ Grapples Oil Risks From Trade War to Mideast Conflict

Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader

By Grant Smith Jun 27, 2019 (Bloomberg) OPEC and its allies look set to stick with their current strategy when they meet next week, renewing a deal to restrain oil supplies to prop up prices. But in a market clouded by uncertainties, they’ll probably also hint at how the policy may change. As oil demand … Read moreOPEC+ Grapples Oil Risks From Trade War to Mideast Conflict

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Rising Oil Prices Will Test Frackers

Rising Oil Prices Will Test Frackers By Liam Denning (Bloomberg Opinion) The quarterly energy survey by the Federal Reserve Bank of Dallas is required reading in oil and gas circles, not least because of the anonymous quotations from participants: We see oversupply, oversupply and oversupply of both oil and gas … That particular respondent from the oilfield services … Read moreRising Oil Prices Will Test Frackers

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Early Shale Optimist Sees Another Decade of U.S. Supply Growth

By Dan Murtaugh and Sharon Cho Jun 25, 2019 (Bloomberg) The U.S. will account for almost a quarter of global oil and gas production by the early 2030s as the shale boom keeps on booming, according to the head of Rystad Energy.Output from shale including crude oil, condensate and natural gas liquids could climb to … Read moreEarly Shale Optimist Sees Another Decade of U.S. Supply Growth

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Occidental Petroleum Issues Statement Regarding Icahn Filing

June 26, 2019 Business Wire HOUSTON–(BUSINESS WIRE)–Occidental Petroleum Corporation (“Occidental” or “the Company”) (NYSE: OXY) today issued the following statement in response to the materials filed by Carl Icahn: We maintain an open dialogue with all our shareholders and welcome constructive input toward our shared goal of maximizing long-term value. Our Board is committed to acting in … Read moreOccidental Petroleum Issues Statement Regarding Icahn Filing

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Oil Retreats From Five-Week High as Trump Damps Trade Optimism

Rakteem Katakey and Sharon Cho Jun 26, 2019 (Bloomberg) Oil retreated from a five-week high in New York after U.S. President Donald Trump warned he might impose substantial additional tariffs on Chinese imports. Futures fell as much as 1.1% after closing 2.7% higher on Wednesday as government data showed U.S. crude stockpiles dropped the most … Read moreOil Retreats From Five-Week High as Trump Damps Trade Optimism

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Using Videos to Reignite Sales Leads – Kicker Video

By: Mary Croft  Kicker Video:   Cold leads are an unfortunate reality in this business climate.  Leads in the energy business can grow cold because the potential client or customer is losing interest, because they are busy, because they are considering the competition, or for any of a number of other reasons. There are a … Read moreUsing Videos to Reignite Sales Leads – Kicker Video

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Falcon Equipment Announces Opening of a New Branch in Leduc, Alberta in August 2019

Falcon Equipment Feature Logo 400x270

Leduc, AB June 25, 2019 – Falcon Equipment has officially announced that they will be opening a new branch in Leduc, Alberta (6803 42 Street) as of August 2019. The Falcon Alberta branch will be offering sales, service (shop and mobile), rentals and parts support for a majority of their core product lines. “This is … Read moreFalcon Equipment Announces Opening of a New Branch in Leduc, Alberta in August 2019

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jun 26, 2019 (Bloomberg) U.S. said to delay China tariffs, companies find their Huawei loophole, and bitcoin surges. Here are some of the things people in markets are talking about today. Peace talks The U.S. is willing to suspend the next round of tariffs on an additional $300 billion of Chinese imports as both sides … Read moreFive Things to Know in World Business Today

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Oil Jumps to Four-Week High on Report of Falling U.S. Stockpiles

By Saket Sundria and Grant Smith Jun 26, 2019 (Bloomberg) Oil rose to a four-week high after an industry report signaled a bigger-than-forecast drop in U.S. crude stockpiles, adding impetus to a rally that’s been driven by a tense standoff between Washington and Tehran.Futures in New York gained as much as 2.3%. The American Petroleum … Read moreOil Jumps to Four-Week High on Report of Falling U.S. Stockpiles

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For First Time Ever, Renewables Surpass Coal in U.S. Power Mix

By Christopher Martin Jun 25, 2019, (Bloomberg) For the clearest sign yet that renewable energy has gone mainstream, consider this: Clean energy resources supplied more of America’s electricity than coal for the first time ever in April. Hydropower dams, solar panels and wind turbines generated almost 68.5 million megawatt-hours of power in April, eclipsing the … Read moreFor First Time Ever, Renewables Surpass Coal in U.S. Power Mix

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PERSPECTIVE: Here’s How Climate Change Is Viewed Around the World

By Alan Crawford Jun 25, 2019 (Bloomberg) Wildfires in California and Siberia. Floods wiping out grain harvests in Argentina. Droughts forcing water restrictions in Cape Town and affecting shipping on Germany’s Rhine River. Climate change is global in nature, and is creeping higher in surveys of voter concerns. In some countries it’s at or near the … Read morePERSPECTIVE: Here’s How Climate Change Is Viewed Around the World

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Dumping Oil Stocks Proving Hard to Explain for Crude-Rich Norway

Offshore drilling

By Mikael Holter Jun 25, 2019 (Bloomberg) Norway is finding it hard to convince the world that its $1 trillion wealth fund’s divestment from oil stocks has nothing to do with climate change. Even the secretary general of the United Nations isn’t buying it: Norway’s Parliament has voted to divest the world’s largest sovereign wealth … Read moreDumping Oil Stocks Proving Hard to Explain for Crude-Rich Norway

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Who’s Stocks are More Unpopular Than Frackers? The Guys Helping Them

By Liam Denning Jun 25, 2019 (Bloomberg Opinion) Oil and gas producer stocks are deeply unpopular. Oilfield services stocks, on the other hand, are deeply, deeply unpopular: The oily water in which the services companies swim is the money that exploration and production firms spend – and it has dried up. Analysts at Morgan Stanley have just reduced their … Read moreWho’s Stocks are More Unpopular Than Frackers? The Guys Helping Them

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U.S. Well Services, Inc. Successfully Deploys its Clean Fleet® PowerPath® Technology

June 26, 2019  | Source: U.S. Well Services, Inc. HOUSTON, June 26, 2019 (GLOBE NEWSWIRE) — U.S. Well Services, Inc. (NASDAQ: USWS) today announced it had successfully deployed its patent pending PowerPath® technology to provide power to an all-electric Clean Fleet® for remote hydraulic fracturing operations on the first of sixteen wells located in a loop … Read moreU.S. Well Services, Inc. Successfully Deploys its Clean Fleet® PowerPath® Technology

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Russia leads as top crude supplier to China, overtakes Saudi

June 25, 2019 Reuters Russia became the largest crude oil supplier to China in May, supported by robust demand from private refiners and alongside a fall in supplies from Iran.Imports from Russia came in at 6.36 million tonnes in May, or 1.50 million barrels per day (bpd), data from the General Administration of Customs showed on … Read moreRussia leads as top crude supplier to China, overtakes Saudi

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jun 25, 2019 (Bloomberg) —Trump and Khamenei trade barbs, low hopes for a G-20 trade breakthrough, and Powell speaks in New York. Here are some of the things people in markets are talking about today. Throwing toys President Donald Trump’s announcement of sanctions on Iran’s supreme leader, Ayatollah Ali Khamenei, seem to be a … Read moreFive Things to Know in World Business Today

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Pipeline Company Blue Racer to Weigh $2.5 Billion IPO

By Rachel Adams-Heard and Kiel Porter Jun 25, 2019 (Bloomberg) Blue Racer Midstream, a private equity-backed natural gas pipeline owner, is considering an initial public offering that could be valued at $2.5 billion, according to people familiar with the matter. The Dallas-based company, which is a 50/50 joint venture between private equity firm First Reserve … Read morePipeline Company Blue Racer to Weigh $2.5 Billion IPO

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Oil Steadies as Iran Tensions Mingle With Economic Concerns

By Tsuyoshi Inajima and Grant Smith Jun 25, 2019 (Bloomberg) Oil steadied after rallying almost 8% in three days as investors weighed the risks of a supply disruption in the Middle East against concerns over the global economy and demand. Futures were little changed near $58 a barrel in New York. President Donald Trump imposed sanctions on … Read moreOil Steadies as Iran Tensions Mingle With Economic Concerns

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LLOG Exploration Announces Commencement of Production at Buckskin Project in the Deepwater Gulf of Mexico and Provides Operational Update

June 25, 2019| Source: LLOG Exploration Company, L.L.C. COVINGTON, La., June 25, 2019 (GLOBE NEWSWIRE) — LLOG Exploration Company, L.L.C. (“LLOG”) announced today that it has initiated production from the Buckskin Project in the deepwater Gulf of Mexico.  Buckskin is located on Keathley Canyon blocks 785, 828, 829, 830, 871 and 872 in approximately 6,800 feet … Read moreLLOG Exploration Announces Commencement of Production at Buckskin Project in the Deepwater Gulf of Mexico and Provides Operational Update

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U.S. Well Services, Inc. Enters into Exclusive Electric Motor Purchase Agreement with AmeriMex

June 25, 2019  | Source: U.S. Well Services, Inc. HOUSTON, June 25, 2019 (GLOBE NEWSWIRE) — U.S. Well Services, Inc. (NASDAQ: USWS) today announced that it has entered into an agreement with AmeriMex Motor & Controls, LLC. (“AmeriMex”), a subsidiary of Industrial Service Solutions.  Under the terms of the agreement, AmeriMex will provide electric motors exclusively … Read moreU.S. Well Services, Inc. Enters into Exclusive Electric Motor Purchase Agreement with AmeriMex

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Occidental Mulls Sale of Anadarko’s Western Stake

By Kiel Porter and Rachel Adams-Heard Jun 24, 2019 (Bloomberg) Occidental Petroleum Corp. is seeking a buyer to take majority control of Western Midstream Partners LP, the pipeline operator that it’s poised to inherit through its takeover of Anadarko Petroleum Corp., according to people familiar with the matter.Occidental is working with a financial adviser to … Read moreOccidental Mulls Sale of Anadarko’s Western Stake

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Here’s Why Oil’s Outlook Could Be Even Bleaker Than Expected

By Bloomberg News Jun 24, 2019 (Bloomberg) As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month.While the Saudi Arabian-led efforts to restrain supply amid surging North American shale production … Read moreHere’s Why Oil’s Outlook Could Be Even Bleaker Than Expected

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Amplify Energy Announces Release of $90 Million of Unencumbered Cash from Beta Decommissioning Trust Account

June 24, 2019 Globe Newswire HOUSTON, June 24, 2019 (GLOBE NEWSWIRE) — Amplify Energy Corp. (“Amplify” or the “Company”) (OTCQX: AMPY) announced today the release of $90 million from the Beta Decommissioning Trust account.  Following the release, Beta’s decommissioning obligations remain fully supported by A-rated surety bonds. “We are pleased to be able to announce the … Read moreAmplify Energy Announces Release of $90 Million of Unencumbered Cash from Beta Decommissioning Trust Account

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Lonestar Announces Positive Production Results At Horned Frog

June 24, 2019 PR Newswire FORT WORTH, Texas, June 24, 2019 /PRNewswire/ — Lonestar Resources US Inc. (NASDAQ: LONE) (together with its subsidiaries, “Lonestar”, “we”, “our” or the “Company”) announced additional well results in its Horned Frog area located in La Salle County, Texas. Lonestar previously announced initial test results for its Horned Frog #4H and #5H wells which … Read moreLonestar Announces Positive Production Results At Horned Frog

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Calgary, Canada selected by World Petroleum Council to host oil and gas forum in 2023

Calgary, Canada has been selected to host the World Petroleum Congress in 2023, beating out four other global cities in voting that took place in St. Petersburg, Russia. The World Petroleum Council selected Calgary to host its global oil and gas forum in a fourth ballot early Sunday, where the other remaining contender was Baku, … Read moreCalgary, Canada selected by World Petroleum Council to host oil and gas forum in 2023

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IEA concerned about Middle East tensions, stands ready to act

June 24, 2019 Reuters The International Energy Agency (IEA) is very concerned about the impact that tensions in the Middle East may have on global energy security and will act if there is any physical disruption to supplies, its executive director said on Monday.Oil prices rose on Monday, extending large gains last week that were prompted … Read moreIEA concerned about Middle East tensions, stands ready to act

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Jun 24, 2019 (Bloomberg) Trump set to announce more Iran sanctions, Turkish assets rally as Erdogan loses vote, and the everything-rally continues. Here are some of the things people in markets are talking about today. What to sanction? President Donald Trump is threatening Iran with additional sanctions, which may be announced as soon … Read moreFive Things to Know in World Business Today

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U.S. Summer Driving Gets Pricier Start as Key Refinery Burns

By David Marino and Barbara Powell Jun 21, 2019 (Bloomberg) A fire at the largest refinery on the U.S. East Coast sent gasoline prices soaring, threatening to raise pump prices from Delaware to Maine just as American drivers get set to head off on vacation.Futures jumped 3.9%, the most in more than three months after … Read moreU.S. Summer Driving Gets Pricier Start as Key Refinery Burns

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Chevron Phillips, Qatar to Build Mideast’s Top Ethylene Plant

(Bloomberg) –Chevron Phillips Chemical Co. will help gas-rich Qatar build the Middle East’s largest plant for production of ethylene, a key ingredient in plastics. Qatar Petroleum chose Chevron Phillips Chemical as its partner in a joint venture to produce as much as 1.9 million tons a year of ethylene, Saad Sherida Al-Kaabi, QP’s chief executive … Read moreChevron Phillips, Qatar to Build Mideast’s Top Ethylene Plant

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Why Does Putin Continue to Agree to an Oil Deal That’s Bad For Russia?

By Julian Lee Jun 22, 2019 (Bloomberg Opinion) They got there in the end. After a fraught period when nobody could agree on when to meet, OPEC and its friends will gather on July 1-2 in Vienna. All 24 oil ministers will have to decide whether to renew their commitment to output cuts, which have have already run five times … Read moreWhy Does Putin Continue to Agree to an Oil Deal That’s Bad For Russia?

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Oil Climbs to a Three-Week High as U.S.-Iran Tensions Simmer

By Saket Sundria and Grant Smith Jun 23, 2019 (Bloomberg) Oil rose to the highest level in more than three weeks as political tensions between the U.S. and Iran continued to simmer, with President Donald Trump announcing plans for further sanctions against the OPEC member.Futures added as much as 1.4% in New York after surging 9.4% last … Read moreOil Climbs to a Three-Week High as U.S.-Iran Tensions Simmer

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Archrock Announces Agreement to Acquire Elite Compression

June 24, 2019  | Source: Archrock Acquiring approximately 430,000 of compression horsepower from Elite Compression Services for approximately $410 million in cash and Archrock common stock Reinforces focus on large horsepower compression serving midstream infrastructure with blue-chip customers Accretive to earnings and free cash flow per share and supports our path to achieving sub-4.0x leverage in … Read moreArchrock Announces Agreement to Acquire Elite Compression

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Ultra Petroleum Corp. Announces Extension of Early Participation Date, Withdrawal Deadline and Expiration Date for Exchange Offer for 7.125% Senior Notes due 2025

June 24, 2019  Source: Ultra Petroleum Corp. ENGLEWOOD, Colo., June 24, 2019 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (NASDAQ: UPL) today announced that, with respect to the previously announced private offer to exchange (the “Exchange Offer”) outstanding 7.125% Senior Notes due 2025 (the “2025 Notes”) of its wholly owned subsidiary, Ultra … Read moreUltra Petroleum Corp. Announces Extension of Early Participation Date, Withdrawal Deadline and Expiration Date for Exchange Offer for 7.125% Senior Notes due 2025

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Petrobras Parties Pay Vantage Drilling Parties $700.9 million to satisfy Arbitration Award and related U.S. Judgment

June 21, 2019 17:40 ET | Source: Vantage Drilling International HOUSTON, June 21, 2019 (GLOBE NEWSWIRE) — Vantage Drilling International (“Vantage” or the “Company”) announced today that Petrobras Venezuela Investments & Services, BV (“PVIS”), a subsidiary of Petroleo Brasileiro S.A (“Petrobras”), entered into an agreement with Vantage Deepwater Company (“VDEEP”), a wholly-owned subsidiary of Vantage, pursuant to … Read morePetrobras Parties Pay Vantage Drilling Parties $700.9 million to satisfy Arbitration Award and related U.S. Judgment

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Dirty Water Holds Biggest Promise for Pipeline Companies

By David Wethe Jun 21, 2019 (Bloomberg) For companies that haul oil and natural gas, the next big thing may be dirty water, according to Jefferies Group LLC.As booming U.S. oil production unleashes a torrent of contaminated water that rises to the surface with crude, pipeline operators may be in the best position to harness … Read moreDirty Water Holds Biggest Promise for Pipeline Companies

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

June 21, 2019 Reuter Comments U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week.Big energy price declines over the prior couple of months, however, prompted one analyst to cut rig count forecasts for 2019 and 2020. Companies … Read moreU.S. drillers add oil rigs for first week in three

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WTI soars 10% in week on fears of U.S.- Iran conflict

Oil Prices Up

June 21, 2019 Reuters NEW YORK, June 21 (Reuters) – Oil futures rallied on Friday with U.S. crude up 10% in the week and global benchmark Brent gaining 5% on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s … Read moreWTI soars 10% in week on fears of U.S.- Iran conflict

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Five Things to Know in World Business Today

World Business

By Samuel Potter Jun 21, 2019 (Bloomberg) U.S. and Iran standoff continues, Boris is one step closer, and everything rallies except the dollar. Here are some of the things people in markets are talking about today. Tension grows As investors cheer central bankers saying some dovish stuff and the Brits waste time picking Boris (more on … Read moreFive Things to Know in World Business Today

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Oil Heads for Weekly Increase on Heightened U.S.-Iran Tensions

By Sharon Cho and Grant Smith Jun 20, 2019 (Bloomberg) Oil in London headed for its biggest weekly gain since February as escalating tensions between the U.S. and Iran fanned fears of conflict that would disrupt energy supplies from the Middle East. Brent crude rose 0.5% on Friday, bringing its increase for the week to … Read moreOil Heads for Weekly Increase on Heightened U.S.-Iran Tensions

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Gasoline Surges as Fire Rips Through Philadelphia Refinery

By Barbara Powell and Rachel Graham Jun 21, 2019 (Bloomberg) —A fire is burning at the Philadelphia Energy Solutions oil refinery, the largest such plant on the U.S. East Coast and the main supplier to the local gasoline market. Futures contracts for the motor fuel gained in New York.The fire still wasn’t under control as … Read moreGasoline Surges as Fire Rips Through Philadelphia Refinery

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Large Exxon Shareholder Starts Divesting Over Climate Change

By Kelly Gilblom and William Mathis Jun 20, 2019 (Bloomberg) One of Exxon Mobil Corp.‘s largest shareholders, Legal & General Group Plc, has divested 19 of its funds from the company and will ask its clients if it can withdraw more money, saying the oil and gas producer isn’t adequately addressing climate change.Exxon is the … Read moreLarge Exxon Shareholder Starts Divesting Over Climate Change

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VAALCO Energy, Inc. Announces Stock Repurchase Program

Updated investor presentation to be posted to web site June 20, 2019 | Source: VAALCO Energy, Inc. HOUSTON, June 20, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY) today announced that its Board of Directors has authorized a stock repurchase program under which the Company can repurchase up to $10 million of the currently outstanding … Read moreVAALCO Energy, Inc. Announces Stock Repurchase Program

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Yuma Energy, Inc. Receives Noncompliance Notice from NYSE America

June 20, 2019 Newswire HOUSTON, June 20, 2019 /PRNewswire/ — Yuma Energy, Inc. (NYSE American: YUMA) (“Yuma,” the “Company,” “we” or “our”) today announced that on June 17, 2019, Yuma was notified by the NYSE American LLC (the “Exchange”) that the Company is not in compliance with one of the Exchange’s continued listing standards as set forth in Part … Read moreYuma Energy, Inc. Receives Noncompliance Notice from NYSE America

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Camber Energy Provides Final Agreements Related to its Preferred C Shareholder to the NYSE American in Connection with its Planned Acquisition of Lineal Star Holdings

June 20, 2019 Accesswire HOUSTON, TX / ACCESSWIRE / June 20, 2019 / Camber Energy, Inc. (NYSE American: CEI) (the “Company” or “Camber”), based in Houston, Texas, today announced that it has come to agreement on mutually acceptable transaction documents with the holder of the Company’s Series C Redeemable Convertible Preferred Stock and has provided the NYSE … Read moreCamber Energy Provides Final Agreements Related to its Preferred C Shareholder to the NYSE American in Connection with its Planned Acquisition of Lineal Star Holdings

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Five Things to Know in World Business Today

World Business

By Samuel Potter Jun 20, 2019 (Bloomberg) The dust settles post-Powell, central banks of England and Japan take a turn, and trouble in the Middle East. Here are some of the things people in markets are talking about today. The morning after Jerome Powell’s patience has run out, apparently. Possibly with President Donald Trump, with the … Read moreFive Things to Know in World Business Today

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Oil Surges After Iran Downs U.S. Drone and Fed Signals Rate Cut

Oil Prices Up

By Sharon Cho and Grant Smith Jun 19, 2019 (Bloomberg) Oil rose after Iran said it shot down a U.S. spy drone in its airspace, stoking Middle East tensions further after the attack on two tankers last week, while a more dovish stance from the Federal Reserve lifted financial markets. Futures climbed as much as … Read moreOil Surges After Iran Downs U.S. Drone and Fed Signals Rate Cut

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Trudeau’s Crude Pipeline Set to Start Shipping Oil by 2022

By Kevin Orland and Robert Tuttle Jun 19, 2019 (Bloomberg) The oil pipeline that Canadian Prime Minister Justin Trudeau’s government approved on Tuesday is slated to start shipping crude as early as 2022 and cost more than C$7.4 billion ($5.6 billion) after legal delays hampered the construction process.The Trans Mountain expansion, which would carry 590,000 more … Read moreTrudeau’s Crude Pipeline Set to Start Shipping Oil by 2022

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OPEC’s Top 3 Put Group on Track to Extend Oil Cuts in July

Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader

By Mahmoud Habboush and Grant Smith Jun 19, 2019 (Bloomberg) OPEC is poised to extend oil-output cuts for the rest of the year when its members meet next month to assess supply and demand for crude.Saudi Arabia, Iraq and the United Arab Emirates — the group’s three biggest members — all want to keep restraining … Read moreOPEC’s Top 3 Put Group on Track to Extend Oil Cuts in July

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Chisholm Oil and Gas, LLC and Gastar Exploration LLC Announce Strategic Combination to Create the Leading STACK E&P Company

June 19, 2019 TULSA, Okla. & HOUSTON–(BUSINESS WIRE)–Chisholm Oil and Gas, LLC (“Chisholm”) of Tulsa, Oklahoma and Gastar Exploration LLC (“Gastar”) of Houston, Texas announced today that they have entered into definitive agreements to effect a merger between the two companies. The combined company, which will operate under the name Chisholm Oil and Gas and … Read moreChisholm Oil and Gas, LLC and Gastar Exploration LLC Announce Strategic Combination to Create the Leading STACK E&P Company

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Roan Resources, Inc. Announces Commitments for a $100 Million Term Loan Facility and Reaffirmation of the $750 Million Borrowing Base

June 19, 2019 Business Wire OKLAHOMA CITY–(BUSINESS WIRE)–Roan Resources, Inc. (NYSE: ROAN) (“Roan” or the “Company”) today announced it has received commitments for a $100 million term loan facility from funds affiliated with certain significant shareholders of the Company that are represented on the board of directors. Borrowings under the term loan facility are expected to … Read moreRoan Resources, Inc. Announces Commitments for a $100 Million Term Loan Facility and Reaffirmation of the $750 Million Borrowing Base

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Development Capital Resources Announces $165 Million Development Joint Venture in the Permian Basin

Backed by funds managed by Ares Management Corporation LOS ANGELES & HOUSTON & MIDLAND, Texas–(BUSINESS WIRE)–Development Capital Resources, LLC (DCR) announced today that a DCR-managed subsidiary, capitalized by funds managed by affiliates of Ares Management Corporation (NYSE:ARES), has entered into a drilling and development joint venture with a private operator in the Permian Basin. The … Read moreDevelopment Capital Resources Announces $165 Million Development Joint Venture in the Permian Basin

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