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Oil Gloom Turns to Boom as China and Fed Allay Worst Fears

Jan 20, 2019, by Carlos Caminada and Alex Nussbaum (Bloomberg) Investors are the most optimistic on oil in two months as the worst fears that roiled markets at the end of the year start to dissipate. Hedge funds boosted their net wagers on rising Brent crude prices by 9 percent in the week ended Jan. … Read moreOil Gloom Turns to Boom as China and Fed Allay Worst Fears

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Florida Power & Light Aims for Record-breaking 30 Million Solar Panels by 2030

Solar Panel

January 18, 2019 By Smart Energy International [Official Publication of Clarion Events Power and Energy Series] by Nicholas Nhede The initiative aims to install more than 30 million solar panels by 2030 and the project will be the largest including solar installation by a regulated utility in the world. The program will help FPL to … Read moreFlorida Power & Light Aims for Record-breaking 30 Million Solar Panels by 2030

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How OPEC Is Helping U.S. Oil Reach a Tipping Point: Julian Lee

Jan 19, 2019, by Julian Lee (Bloomberg Opinion) The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. This won’t make the U.S. independent of the global … Read moreHow OPEC Is Helping U.S. Oil Reach a Tipping Point: Julian Lee

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Mexico Pipeline Blast Risks Embroiling AMLO in Elusive Pemex Fix

Jan 20, 2019, by Amy Stillman (Bloomberg) Mexico President Andres Manuel Lopez Obrador is doubling down on a controversial strategy to end fuel theft at Petroleos Mexicanos after a pipeline explosion caused by an illegal tap left at least 85 people dead and many more injured. He joins a long line of presidents that have … Read moreMexico Pipeline Blast Risks Embroiling AMLO in Elusive Pemex Fix

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How OPEC Is Helping U.S. Oil Reach a Tipping Point: Julian Lee

 Jan 19, 2019 by Julian Lee (Bloomberg Opinion)  The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. This won’t make the U.S. independent of the global … Read moreHow OPEC Is Helping U.S. Oil Reach a Tipping Point: Julian Lee

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Oil Hits Two-Month High as China Truce Signals Brighter Outlook

Jan 18, 2019 by Alex Nussbaum (Bloomberg)  Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy. Futures climbed 3.3 percent in New York to cap the third straight weekly increase. Bloomberg News reported China proposed a six-year shopping … Read moreOil Hits Two-Month High as China Truce Signals Brighter Outlook

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U.S. drillers cut most oil rigs this week since Feb 2016

Jan 18 (Reuters) – U.S. energy firms cut 21 oil rigs this week, the biggest decline since February 2016, even as the United States is expected to reinforce its leadership as the world’s number one crude producer this year. Drillers cut 21 oil rigs in the week to Jan. 18, bringing the total count down … Read moreU.S. drillers cut most oil rigs this week since Feb 2016

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Bad bets on oil, gas spark wave of energy-fund closures

By Devika Krishna Kumar and Liz Hampton NEW YORK/HOUSTON, Jan 18 (Reuters) – Energy fund managers took heavy losses last year with wrong-way bets on the prices of oil and natural gas, leading to a wave of closures in the volatile fund sector. The number of active energy-focused funds fell to just 738 in 2018 … Read moreBad bets on oil, gas spark wave of energy-fund closures

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To boost confidence in oil cut, OPEC issues quota list

LONDON (Reuters) – OPEC on Friday published a list of oil production cuts by its members and other major producers for the six months to June, an effort to boost confidence in the move designed to avoid a supply glut in 2019. In a statement, an OPEC and non-OPEC ministerial panel also called on participating … Read moreTo boost confidence in oil cut, OPEC issues quota list

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After billion-barrel bonanza, BP goes global with seismic tech

LONDON (Reuters) – Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola and Brazil. The software used in the Gulf, based on an algorithm created by Xukai Shen, a geophysicist straight out of Stanford … Read moreAfter billion-barrel bonanza, BP goes global with seismic tech

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Schlumberger Announces Full-Year and Fourth-Quarter 2018 Results

Schlumberger

Schlumberger Announces Full-Year and Fourth-Quarter 2018 Results • Full-year revenue of $32.8 billion increased 8% year-on-year • Full-year GAAP EPS, including charges & credits, was $1.53 • Full-year EPS, excluding charges & credits, of $1.62 increased 8% year-on-year • Full-year cash flow from operations and free cash flow were $5.7 billion and $2.5 billion, respectively … Read moreSchlumberger Announces Full-Year and Fourth-Quarter 2018 Results

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IEA Sees Oil Demand Growth Defying Economic Slowdown For Now

Jan 18, 2019, by Grant Smith (Bloomberg) Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that … Read moreIEA Sees Oil Demand Growth Defying Economic Slowdown For Now

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U.S. Could Soon Pump More Crude Than Saudis Can at Their Peak

Jan 18, 2019, by Grant Smith (Bloomberg) America’s journey to preeminence in the global oil trade is about to hit another milestone. Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By mid-year America will go one better. … Read moreU.S. Could Soon Pump More Crude Than Saudis Can at Their Peak

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Five Things to Know in World Business Today

Jan 18, 2019, by Lorcan Roche Kelly (Bloomberg) Day 28 Prospects for a resolution to the partial government shutdown seem low as the relationship between President Donald Trump and House Speaker Nancy Pelosi deteriorate further. Trump also cancelled the U.S. delegation’s trip to the World Economic Forum in Davos. A meeting between Senate Majority Leader Mitch McConnell and Vice President … Read moreFive Things to Know in World Business Today

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OPEC sees oil market not yet out of woods, tries to avoid new glut

LONDON (Reuters) – OPEC is seeking to avoid a build-up in oil inventories above the five-year average through a new deal with non-OPEC partners to curb supply in 2019, its secretary general told Reuters on Thursday. Secretary General Mohammad Barkindo also said he was hopeful that oil demand would remain robust in 2019 and that … Read moreOPEC sees oil market not yet out of woods, tries to avoid new glut

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Ameresco Acquiring Maximum Solar to Increase Commercial-Scale Services

By Rod Walton (Renewable Energy World) Ameresco is acquiring a Massachusetts solar energy management firm to expand its services to owners of commercial-scale photovoltaic facilities. As part of its acquisition of Maximum Solar, Ameresco said, it will further develop in-house services to operate and maintain solar facilities. Maximum Solar currently manages about 150 MW of … Read moreAmeresco Acquiring Maximum Solar to Increase Commercial-Scale Services

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SoCalGas pulls more natgas from Aliso as California cold snap drains storage

Natural Gas

(Reuters) – Facing a colder winter than usual, Southern California Gas said it will pull more natural gas from the Aliso Canyon storage facility, which has been treated as an asset of last resort since a massive leak in 2015-16 resulted in evacuation of a neighborhood. SoCalGas, a unit of California energy company Sempra Energy, … Read moreSoCalGas pulls more natgas from Aliso as California cold snap drains storage

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Former U.S. commerce secretary to lead group to help Permian residents

HOUSTON, Jan 17 (Reuters) – Former U.S. Commerce Secretary and energy executive Don Evans will chair a partnership of oil and gas firms that have pledged $100 million toward easing the civic strain of the shale oil and gas boom in West Texas and New Mexico, the group said on Thursday. The Permian Strategic Partnership … Read moreFormer U.S. commerce secretary to lead group to help Permian residents

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OPEC cuts offset headwinds from slowing economy: Kemp

LONDON (Reuters) – (John Kemp is a Reuters market analyst. The views expressed are his own.) Oil traders seem increasingly convinced OPEC’s prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth. Brent futures prices have stabilized around $60 per barrel in recent sessions, well … Read moreOPEC cuts offset headwinds from slowing economy: Kemp

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California Shouldn’t Waste a PG&E Bankruptcy: Liam Denning

Jan 17, 2019, by Liam Denning (Bloomberg Opinion) It’s rare for a utility to go bankrupt, especially twice. For PG&E Corp., which may enter chapter 11 by the end of the month, there are compelling reasons to do it anyway – and not just for the utility itself. PG&E, facing perhaps $30 billion or more … Read moreCalifornia Shouldn’t Waste a PG&E Bankruptcy: Liam Denning

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U.S. Energy Department to develop lithium recycling research center

WASHINGTON (Reuters) – The U.S. Energy Department said on Thursday it is launching a research center on lithium battery recycling in an effort to reduce U.S. dependence on foreign sources for the metal that is increasingly being used in electric vehicles and electronics. The department is also launching a prize for lithium battery recycling, with … Read moreU.S. Energy Department to develop lithium recycling research center

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U.S. Gulf Coast hunt for heavy crudes send prices higher – traders

HOUSTON (Reuters) – Heavy, sour U.S. Gulf Coast crudes firmed to the strongest levels in three months this week on tight supplies of heavy oils, traders said on Thursday. Heavy Louisiana Sweet (HLS), a heavy coastal grade delivered into Empire, Louisiana, traded around an $8-per-barrel premium to U.S. West Texas Intermediate crude futures (WTI) on … Read moreU.S. Gulf Coast hunt for heavy crudes send prices higher – traders

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Gulfport Board Faulted, Share Buybacks Sought by Investor

Jan 17, 2019, by Scott Deveau (Bloomberg) One of the largest investors in Gulfport Energy Corp. is urging changes at the natural gas and oil company, saying its board lacks the experience needed to correct its lagging performance. Firefly Value Partners, which said it and its affiliates own 8.1 percent of Gulfport, also wants the … Read moreGulfport Board Faulted, Share Buybacks Sought by Investor

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100 Percent Clean Energy Goals: What Will It Take To Get There?

By Larry Sherwood (Renewable Energy World) Here we are in 2019, with more than 100 U.S. cities and 140 large corporations having established 100 percent clean, carbon-free and/or renewable energy goals. In several states, newly seated governors campaigned on goals of 100 percent renewable energy, and congressional representatives have arrived in Washington positioning for a … Read more100 Percent Clean Energy Goals: What Will It Take To Get There?

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DCP Midstream, LP Announces Upsizing and Pricing of an Additional $325 Million of 5.375% Senior Notes due 2025

DENVER, Jan. 16, 2019 (GLOBE NEWSWIRE) — DCP Midstream, LP (NYSE: DCP) (the “Partnership”) announced today that its wholly owned subsidiary, DCP Midstream Operating, LP (the “Operating Partnership”), priced an upsized offering of an additional $325 million aggregate principal amount of its 5.375% senior notes due 2025 at a price of 100.75% of their face value plus accrued interest … Read moreDCP Midstream, LP Announces Upsizing and Pricing of an Additional $325 Million of 5.375% Senior Notes due 2025

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Apache and Altus Midstream Announce New Altus Midstream CEO

HOUSTON, Jan. 16, 2019 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, Nasdaq: APA) and Altus Midstream Company (“Altus”) (Nasdaq: ALTM) today announced the appointment of Clay Bretches as CEO of Altus Midstream, effective immediately. Bretches will also serve as a member of the Altus board of directors and as Apache’s senior vice president, U.S. Midstream Operations. … Read moreApache and Altus Midstream Announce New Altus Midstream CEO

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U.S. Petroleum Market Analysis and Forecast to 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “U.S. Petroleum Market Analysis and Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering. The report provides on an in-depth analysis of the U.S. petroleum market. It presents the latest data of the market size and volume, domestic production, exports and imports, price dynamics and turnover in the industry. In addition, the … Read moreU.S. Petroleum Market Analysis and Forecast to 2025 – ResearchAndMarkets.com

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Mexico pipeline problem eyed in U.S. Gulf Coast gasoline build

Gas Pipeline

HOUSTON, Jan 16 (Reuters) – Traders of refined petroleum products said on Wednesday that pipeline system problems in Mexico may explain the third straight record increase in U.S. Gulf Coast gasoline stockpiles. The U.S. Energy Information Administration said the Gulf Coast gasoline inventory reached 90.96 million barrels last week, according to the EIA. Mexico’s President … Read moreMexico pipeline problem eyed in U.S. Gulf Coast gasoline build

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EPA’s Wheeler says shutdown is delaying new ethanol gasoline rule

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. REUTERS/Jim Young

WASHINGTON (Reuters) – A U.S. Environmental Protection Agency rule to allow sales of higher-ethanol blends of gasoline year-round is being delayed by a partial government shutdown, acting Administrator Andrew Wheeler said on Wednesday. The rule, a key campaign promise by President Donald Trump to farmers, an important constituency, was announced in October and would aim … Read moreEPA’s Wheeler says shutdown is delaying new ethanol gasoline rule

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Five Things to Know in World Business Today

Jan 17, 2019, by Lorcan Roche Kelly (Bloomberg) Tech probe U.S. authorities may soon indict Chinese technology giant Huawei Technologies Co. for allegedly stealing trade secrets from American partner companies like T-Mobile US Inc., according to people familiar with the matter. The increasingly aggressive stance against the company comes amid growing concerns that Beijing could be … Read moreFive Things to Know in World Business Today

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Oil Slips as Record U.S. Production Undermines OPEC+ Supply Cut

Jan 17, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil retreated below $52 a barrel as data showing record U.S. crude production suggested markets may remain oversupplied despite output cuts by OPEC and its allies. Futures lost 1.1 percent in New York, trimming gains of 3.6 percent over the past two sessions. Booming American … Read moreOil Slips as Record U.S. Production Undermines OPEC+ Supply Cut

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Whiting Petroleum sues oil marketer alleging sweetheart deal by ex-employee

HOUSTON (Reuters) – Whiting Petroleum Corp (WLL.N) this month filed a counterclaim to a lawsuit by a Texas oil marketer that it claimed gave a former executive “favors, cash and trips” to win a sweetheart crude resale agreement. Jamex Marketing LLC sued the second-largest oil producer in the Bakken shale field of North Dakota in … Read moreWhiting Petroleum sues oil marketer alleging sweetheart deal by ex-employee

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Global Clean Energy Funding Dips 8% as China Cools Solar Boom

Jan 16, 2019, by Jim Efstathiou Jr. (Bloomberg) Global funding for clean-energy projects sagged in 2018 after China’s decision to curb subsidies dragged down installations in the world’s biggest solar market. Investment in wind and solar energy, along with technologies like smart power meters, reached $332.1 billion last year, down 8 percent from 2017, according … Read moreGlobal Clean Energy Funding Dips 8% as China Cools Solar Boom

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World’s Largest Offshore Wind Turbine Prototype To Be Installed In Rotterdam

By Renewable Energy World Editors The turbine is designed to capture offshore wind and turn it into electricity, however, the Haliade-X 12 MW prototype will be installed onshore to facilitate access for testing. During the initial period of operations, it will allow GE to collect data needed to obtain a Type Certificate, a key step … Read moreWorld’s Largest Offshore Wind Turbine Prototype To Be Installed In Rotterdam

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COLUMN-Global economy is headed for recession: Kemp

* Chartbook: tmsnrt.rs/2HfQKH5 By John Kemp LONDON, Jan 17 (Reuters) – Global growth is slowing and the world economy is headed for a recession in 2019 unless something happens to give it renewed momentum. The OECD’s composite leading indicator fell to just 99.3 points in November, its lowest since October 2012, and down from a … Read moreCOLUMN-Global economy is headed for recession: Kemp

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U.S. crude stockpiles fall more than expected in week: EIA

NEW YORK (Reuters) – U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecast, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels in the week to Jan. 11, compared with analysts’ expectations for a decrease of 1.3 million barrels. Crude … Read moreU.S. crude stockpiles fall more than expected in week: EIA

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Canada’s oil cuts offer lifeline to producers but create new problems

WINNIPEG, Manitoba (Reuters) – The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments. After Alberta cut 325,000 barrels per day (bpd) starting this month, the discount on Canadian heavy oil compared to … Read moreCanada’s oil cuts offer lifeline to producers but create new problems

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EPA Nominee Wheeler Defends Rollbacks While Pressed on Climate

Jan 16, 2019, by Jennifer A. Dlouhy (Bloomberg) President Donald Trump’s nominee to head the EPA, Andrew Wheeler, defended his efforts to ease environmental regulations in a confirmation hearing Wednesday, amid fierce criticism from Senate Democrats insisting he is leading a dangerous U.S. retreat from the fight against climate change. Wheeler, a former energy lobbyist … Read moreEPA Nominee Wheeler Defends Rollbacks While Pressed on Climate

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Before start of new oil pact, OPEC made progress averting glut

LONDON (Reuters) – OPEC said on Thursday it had cut oil output sharply in December before a new accord to limit supply took effect, suggesting producers have made a strong start to averting a new glut. The Organization of the Petroleum Exporting Countries said in a monthly report that its oil output fell by 751,000 … Read moreBefore start of new oil pact, OPEC made progress averting glut

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U.S. East Coast crude inventories fall to lowest levels since 2014: EIA

NEW YORK (Reuters) – U.S. East Coast crude oil inventories fell to 10.73 million barrels last week, the lowest levels since October of 2014, according to new data released on Wednesday by the U.S. Energy Information Administration. U.S. gasoline inventories rose to 255.6 million barrels, the highest weekly level since February of 2017, EIA data … Read moreU.S. East Coast crude inventories fall to lowest levels since 2014: EIA

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For a GE Executive, $63 Million Isn’t Enough: Brooke Sutherland

Jan 16, 2019, by Brooke Sutherland (Bloomberg Opinion) For every step General Electric Co. takes toward overhauling its culture, it seems to take a step back. The troubled industrial conglomerate kicked off the week by announcing that UBS Group AG analyst Steven Winoker would become the head of its investor relations team. Winoker will replace Todd Ernst, who … Read moreFor a GE Executive, $63 Million Isn’t Enough: Brooke Sutherland

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PG&E Reneging On Renewables PPAs Makes No Sense: Liam Denning

Jan 16, 2019, by Liam Denning (Bloomberg Opinion) Utilities and renewable-energy advocates have long had a complicated relationship. Yet the prospect of PG&E Corp. tipping into bankruptcy by the end of January has sent shivers through the solar-and-wind sector. California has ambitious clean-energy targets, codified in SB 100, the law passed last year committing the … Read morePG&E Reneging On Renewables PPAs Makes No Sense: Liam Denning

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U.S. natgas output, demand seen rising to record highs in 2019

(Reuters) – U.S. dry natural gas production will rise to an all-time high of 90.19 billion cubic feet per day (bcfd) in 2019 from a record high 83.31 bcfd in 2018, according to the Energy Information Administration’s Short Term Energy Outlook (STEO) on Tuesday. The latest January output projection for 2019 was up from EIA’s … Read moreU.S. natgas output, demand seen rising to record highs in 2019

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Corporate investors pile into electric vehicle startups

By Paul Lienert DETROIT (Reuters) – Corporate investors from outside the auto industry are placing increasing bets on electric vehicles, vying with automakers and suppliers to bankroll startup companies working on everything from advanced batteries to charging devices and all-new EVs. Some 250 startups involved in some aspect of electrification have attracted more than $20 … Read moreCorporate investors pile into electric vehicle startups

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U.S. oil output to rise to 12.9 million bpd in 2020: EIA

Oil Tanker in U.S.

NEW YORK (Reuters) – Crude oil output from the United States is expected to rise to a new record of more than 12 million barrels per day (bpd) this year and to climb to nearly 13 million bpd next year, the U.S. Energy Information Administration said on Tuesday in its first 2020 forecast. U.S. crude … Read moreU.S. oil output to rise to 12.9 million bpd in 2020: EIA

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U.S. Interior Department to recall some furloughed workers for Gulf oil lease work

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

(Reuters) – The U.S. Interior Department intends to temporarily recall some workers furloughed by the partial federal government shutdown to prepare an upcoming Gulf of Mexico oil lease sale, using funds left over from last year, according to a department document. The move would add to the administration’s push on its energy portfolio despite the … Read moreU.S. Interior Department to recall some furloughed workers for Gulf oil lease work

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Oil Trades Near $52 on Signs of Falling U.S. Crude Inventories

Jan 16, 2019, by Grant Smith (Bloomberg) Oil fluctuated near $52 a barrel in New York amid signs that crude inventories fell again in the U.S., the world’s biggest consumer. Futures slipped 0.9 percent after settling 3.2 percent higher on Tuesday. U.S. crude stockpiles fell by 560,000 barrels last week, an industry report was said … Read moreOil Trades Near $52 on Signs of Falling U.S. Crude Inventories

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Five Things to Know in World Business Today

Jan 16, 2019, by Lorcan Roche Kelly (Bloomberg) Another vote U.K. lawmakers will vote on a no-confidence motion in Prime Minister Theresa May’s leadership later today in the wake of yesterday’s humiliating defeat of her Brexit deal. Should she lose the vote, Britain will face its third general election in four years. With just 10 … Read moreFive Things to Know in World Business Today

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MidAmerican Energy’s New Utility-Scale Storage System Complete and Operating

Tesla Batteries

By Renewable Energy World Editors This week, clean energy developer Invenergy said that it completed, in just four months, the construction of a 4-MWh battery storage system in Knoxville, Iowa for MidAmerican Energy. The system began commercial operation in December. The lithium iron phosphate battery project will enable MidAmerican Energy to store electricity for later … Read moreMidAmerican Energy’s New Utility-Scale Storage System Complete and Operating

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Future of a Bankrupt PG&E May Be a Breakup Into Power Fiefdoms

Jan 16, 2019, by David R. Baker and Mark Chediak (Bloomberg) PG&E Corp.’s looming bankruptcy could lead to an unprecedented spectacle — a major American power company being taken over by the state or broken up for city governments to run. More often, it works the other way. Local governments have a long history of … Read moreFuture of a Bankrupt PG&E May Be a Breakup Into Power Fiefdoms

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Energy Storage Outlook for 2019: E-Mobility, Clean Energy Technologies and Lithium Batteries

By Livio Filice (Renewable Energy World) 2018 was another defining year for the lithium supply chain as the global population continued to make remarkable strides towards the implementation of clean energy and transportation. Although the clean energy and transportation industries are only in their early days, it has become apparent that renewables and electrification of … Read moreEnergy Storage Outlook for 2019: E-Mobility, Clean Energy Technologies and Lithium Batteries

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Venture Global urges FERC to OK Louisiana Calcasieu LNG export plant

(Reuters) – Venture Global LNG Inc urged U.S. energy regulators on Tuesday to approve construction of its planned Calcasieu Pass liquefied natural gas (LNG) export terminal in Louisiana by Jan. 22. Venture Global told the U.S. Federal Energy Regulatory Commission (FERC) in a filing it was “ready to commence construction of this multi-billion dollar project … Read moreVenture Global urges FERC to OK Louisiana Calcasieu LNG export plant

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U.S. automakers push for deal on fuel efficiency rules

DETROIT (Reuters) – Executives at the major U.S. automakers are pressing the Trump administration and California to agree on standards for fuel efficiency and carbon emissions through 2025, as risks increase that a deadline for setting national standards will pass without a deal. Automakers are already entering the time frame when decisions should be made … Read moreU.S. automakers push for deal on fuel efficiency rules

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Video: Blockchain to Shape New Trends in Energy Trading

By Pamela Largue (Renewable Energy World) The “Distributed Energy: Impact of Blockchain on Energy Trading” report highlights the impact of prosumerism and distributed resources on the energy transaction landscape. The recent trends in the energy industry such as the rise in prosumerism and increasing deployment of smart meters have resulted in better data analytics, storage … Read moreVideo: Blockchain to Shape New Trends in Energy Trading

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Graham Corporation Provides Third Quarter Revenue Estimate and Updates Fiscal 2019 Revenue Expectations

Preliminary third quarter revenue of approximately $17 million to $17.4 million Timing of backlog conversion in second half results in updating fiscal 2019 annual revenue expectations to between $90 million and $95 million,  a 16% to 22% increase over prior year Continued strong book-to-bill ratio drove record backlog at December 31, 2018 of approximately $133 … Read moreGraham Corporation Provides Third Quarter Revenue Estimate and Updates Fiscal 2019 Revenue Expectations

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EDF Renewables North America Announces Commercial Operation at Copenhagen Wind Project in New York

SAN DIEGO–(BUSINESS WIRE)–EDF Renewables North America announced today that the 80 megawatt (MW) Copenhagen Wind Project (Project) is fully operational and delivering electricity. Consisting of 40 wind turbines manufactured by Vestas Wind Systems A/S, the Project benefits from a 15-year Power Purchase Agreement with Narragansett Electric Company, a wholly-owned subsidiary of National Grid. Located in … Read moreEDF Renewables North America Announces Commercial Operation at Copenhagen Wind Project in New York

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CME says it plans to launch e-auction for U.S. crude oil exports

SINGAPORE, Jan 15 (Reuters) – CME Group Inc said on Tuesday it plans to launch an e-auction platform with Enterprise Products Partners LP for U.S. spot crude oil export cargoes to be priced based on West Texas Intermediate (WTI) Houston futures. “The electronic auction will provide a competitive and transparent venue for firms across the … Read moreCME says it plans to launch e-auction for U.S. crude oil exports

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Colorado Supreme Court backs oil regulator in rulemaking fight

By Jim Christie (Reuters) Health and environmental concerns are not the foremost priority for Colorado regulators who oversee oil and gas drilling, the state’s Supreme Court said in a decision on Monday reversing a lower court order requiring the state to consider a rule limiting drilling permits. Rather, the Colorado Supreme Court said the legislative … Read moreColorado Supreme Court backs oil regulator in rulemaking fight

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First U.S. crude cargoes head to China since trade breakthrough: sources

HOUSTON (Reuters) – Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries’ trade war that began last month. The vessels left Galveston, Texas, last month and are scheduled to arrive at … Read moreFirst U.S. crude cargoes head to China since trade breakthrough: sources

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Oil prices expected to stay anchored around $65-70 through 2023: Kemp

LONDON (Reuters) – (John Kemp is a Reuters market analyst. The views expressed are his own) Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters. Despite the recent slump in oil … Read moreOil prices expected to stay anchored around $65-70 through 2023: Kemp

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Oil Gains as U.S. Stockpiles Seen Falling, China Plans Tax Cuts

Oil pipe

Jan 15, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil rose amid estimates of another decline in U.S. crude inventories and signs that China is stepping up efforts to combat an economic slowdown. Futures in New York climbed as much as 1.6 percent after dropping 4 percent over the past two sessions. American stockpiles … Read moreOil Gains as U.S. Stockpiles Seen Falling, China Plans Tax Cuts

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OPEC+ Plans Review in Baku in March, Ministers’ Meeting in April

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

Jan 14, 2019, by Grant Smith (Bloomberg) OPEC and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of OPEC’s supply cuts, the Joint Ministerial Monitoring … Read moreOPEC+ Plans Review in Baku in March, Ministers’ Meeting in April

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Electric Cars Seen Getting Cleaner Even Where Grids Rely on Coal

Jan 14, 2019, by Jeremy Hodges (Bloomberg) Electric cars are better for the environment than traditional gasoline models, and that benefit will grow as power generators shift away from coal. That’s the conclusion of research by BloombergNEF, which found carbon dioxide emissions from battery-powered vehicles were about 40 percent lower than for internal combustion engines … Read moreElectric Cars Seen Getting Cleaner Even Where Grids Rely on Coal

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ASU Researchers Break Solar-cell Efficiency Record at 25.4 Percent

Solar Energy

By Renewable Energy World Editors Arizona State University researchers have set a new record for solar efficiency, 25.4 percent. Working with tandem photovoltaics, or stacking different materials in a solar cell, the ASU team has continued to improve solar efficiency and lower costs. In 2017, professors Zachary Holman and Zhengshan “Jason” Yu and their team … Read moreASU Researchers Break Solar-cell Efficiency Record at 25.4 Percent

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A Study in Emissionality: Why Boston University Looked Beyond New England for Its First Wind Power Purchase

By Katie Ryan and Nicole Arnone (Renewable Energy World) While it’s well known that corporations were some of the earliest trailblazers of large-scale renewable energy purchasing — they’ve closed over 14 gigawatts of deals in the past six years, according to tracking by Rocky Mountain Institute’s Business Renewables Center — higher education has also made … Read moreA Study in Emissionality: Why Boston University Looked Beyond New England for Its First Wind Power Purchase

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Five Things to Know in World Business Today

Jan 15, 2019, by Lorcan Roche Kelly (Bloomberg) Facing defeat If you’re a pound trader, the only winning move today could be not to play. That’s according to Citigroup Inc., which sees sterling volatility rocketing as British Prime Minister Theresa May faces almost certain defeat in today’s parliamentary vote on her deal to exit the European Union. Should … Read moreFive Things to Know in World Business Today

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Ex-Halliburton Chairman Lesar to Start New Oil-Services Company

Jan 14, 2019, by David Wethe, Kevin Crowley and Kiel Porter (Bloomberg) Dave Lesar, fresh from retiring as executive chairman of Halliburton Co. at the end of 2018, is working on a new venture in the oil patch with funding from private equity firm CSL Capital Management. Lesar, 65, plans to start an oilfield services … Read moreEx-Halliburton Chairman Lesar to Start New Oil-Services Company

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QEP Resources Is Said to Work With Evercore on Sale Process

Jan 14, 2019, by Kiel Porter and Scott Deveau (Bloomberg) QEP Resources Inc. — the energy explorer Elliott Management Corp. proposed to buy last week — is working with Evercore Inc. to explore a sale, according to people familiar with the matter. Its shares rose as much as 5.4 percent on the news. QEP is … Read moreQEP Resources Is Said to Work With Evercore on Sale Process

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Alaska officials probing BP oil, gas wells at Prudhoe Bay after spill

ANCHORAGE, Alaska (Reuters) – Regulators in the U.S. state of Alaska will investigate all of the oil and natural gas wells operated by BP Plc at its Prudhoe Bay oil field after the release of a small amount of crude oil and gas from a well that had earlier been shut. The Alaska Oil and … Read moreAlaska officials probing BP oil, gas wells at Prudhoe Bay after spill

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Permian Shale Oil Boom Holds Good News and Bad News for OPEC

Jan 14, 2019, by Christopher Sell (Bloomberg) The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014. A new production cuts deal with Russia and thawing U.S.-China trade relations have given the market a boost. But for OPEC, good news often … Read morePermian Shale Oil Boom Holds Good News and Bad News for OPEC

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Submit your nomination to the 5th annual Global Petroleum Show Awards

There are rare moments in time when certain individuals or companies shine.  They come along unexpectedly and have a profound effect on us; they become a legend in their area of expertise. To some they are controversial, to others they are heroes; but, regardless, no one can deny that they have an ongoing influence within … Read moreSubmit your nomination to the 5th annual Global Petroleum Show Awards

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Phillips 66 Partners, Harvest Midstream, and PBF Logistics Announce Joint Development and Open Season for Crude Oil Pipeline in Louisiana

HOUSTON–(BUSINESS WIRE)–Phillips 66 Partners (NYSE: PSXP), Harvest Midstream Company, and PBF Logistics LP (NYSE: PBFX) have entered into an agreement to jointly develop the ACE Pipeline System. The ACE Pipeline System will provide crude oil transportation service from the market hub in St. James, Louisiana, to downstream refining destinations in Belle Chasse, Meraux, and Chalmette, … Read morePhillips 66 Partners, Harvest Midstream, and PBF Logistics Announce Joint Development and Open Season for Crude Oil Pipeline in Louisiana

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U.S. natgas futures soar 8 pct on frigid weather through late Jan.

Jan 14 (Reuters) – Extreme volatility returned to U.S. natural gas futures on Monday, with the front-month up over 8 percent on forecasts for much colder weather and more heating demand than previously expected through the end of January. In their latest midday predictions, meteorologists said the weather would turn intensely cold starting Jan. 19 … Read moreU.S. natgas futures soar 8 pct on frigid weather through late Jan.

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Top U.S. utility PG&E says it is preparing bankruptcy filing

(Reuters) – PG&E Corp (PCG.N), the biggest U.S. power utility, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018. The company’s shares tumbled 55 percent in early trading. PG&E faces widespread litigation, government … Read moreTop U.S. utility PG&E says it is preparing bankruptcy filing

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Saudi energy minister says global economy, oil demand are strong

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

ABU DHABI (Reuters) – Saudi Arabia’s Energy Minister Khalid al-Falih said that oil demand remains strong and that he sees no impact from U.S.-China trade tensions. “The global economy is strong enough, I’m not too concerned. If a slowdown happens, it will be mild, shallow and short,” he told reporters in Abu Dhabi on Monday. … Read moreSaudi energy minister says global economy, oil demand are strong

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Five Things to Know in World Business Today

Jan 14, 2019, by Lorcan Roche Kelly (Bloomberg) Weakening hand Latest trade data from China showed worse-than-expected numbers. The 7.6 percent drop in imports, the worst reading since 2016, pointed to softening demand at home, while exports fell 4.4 percent in December from a year earlier amid the trade dispute. U.S. Chinese Vice Premier Liu He … Read moreFive Things to Know in World Business Today

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Saudi and Canadian Cuts Are Leaving World Hungry for Heavy Crude

Jan 13, 2019, by Robert Tuttle and Sheela Tobben (Bloomberg) Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind. While curtailments in the Canadian province have propelled local prices to their strongest level in almost a decade, other grades like … Read moreSaudi and Canadian Cuts Are Leaving World Hungry for Heavy Crude

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IRENA: Transition to Renewable Energy May Create an Entirely Different World

By Jennifer Runyon (Renewable Energy World) The analysis finds oil and gas-related conflict may decline, as will the strategic importance of some maritime chokepoints. This week at the Assembly of the International Renewable Energy Agency (IRENA), political and business leaders from around the world outlined the far-reaching geopolitical implications of an energy transformation driven by the rapid … Read moreIRENA: Transition to Renewable Energy May Create an Entirely Different World

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President Trump can’t stop U.S. coal plants from retiring

By Scott DiSavino (Reuters) – More U.S. coal-fired power plants were shut in President Donald Trump’s first two years than were retired in the whole of Barack Obama’s first term, despite the Republican’s efforts to prop up the industry to keep a campaign promise to coal-mining states. In total, more than 23,400 megawatts (MW) of … Read morePresident Trump can’t stop U.S. coal plants from retiring

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Canada, First Nations express concern over U.S. Arctic drilling plans

The Canadian government, two territories and several First Nations are expressing concerns to the United States over plans to open the calving grounds of a large cross-border caribou herd to energy drilling, despite international agreements to protect it. “Canada is concerned about the potential transboundary impacts of oil and gas exploration and development planned for the … Read moreCanada, First Nations express concern over U.S. Arctic drilling plans

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What All That Oil Really Means for the Saudis: Julian Lee

by Julian Lee (Bloomberg Opinion)  In case you didn’t know it, Saudi Arabia is sitting on top of a lot of oil. The first independent assessment of reserves in about 40 years has just proved it. The question is how the kingdom ensures that most of it won’t still be there when the world no longer wants or … Read moreWhat All That Oil Really Means for the Saudis: Julian Lee

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Saudis Say OPEC+ Oil Cuts Provided a `Lifeline’ to U.S. Shale

Jan 13, 2019, by Mahmoud Habboush, Verity Ratcliffe and Anthony DiPaola (Bloomberg)  Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers. “The action we have taken, quickly in December and that we’re seeing implemented as we speak, is a lifeline … Read moreSaudis Say OPEC+ Oil Cuts Provided a `Lifeline’ to U.S. Shale

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

(Reuters) – U.S. energy firms cut oil rigs for a second week in a row as more producers, like Occidental Petroleum Corp, turned conservative in their 2019 drilling plans due to uncertainty over a recovery in crude prices. Drillers cut four oil rigs in the week to Jan. 11, bringing the total count down to … Read moreU.S. oil drillers cut rigs for second week in a row

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Diamondback Energy, Inc. Releases Inaugural 2018 Corporate Responsibility Report

MIDLAND, Texas, Jan. 10, 2019 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today released its inaugural 2018 Corporate Responsibility Report.  The online report outlines Diamondback’s commitment to governance and business ethics, health and safety, environmental responsibility and community engagement.  The report is available at www.diamondbackenergy.com/about/sustainability. “At Diamondback, we understand that … Read moreDiamondback Energy, Inc. Releases Inaugural 2018 Corporate Responsibility Report

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Targa Resources Partners LP Prices Upsized $1.5 Billion Offering of Senior Notes

Targa Resources

HOUSTON, Jan. 10, 2019 (GLOBE NEWSWIRE) — Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP), and the Partnership’s subsidiary Targa Resources Partners Finance Corporation announced today the pricing of an upsized offering of $1.5 billion aggregate principal amount of senior unsecured notes consisting of the originally announced $750.0 million … Read moreTarga Resources Partners LP Prices Upsized $1.5 Billion Offering of Senior Notes

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Equitrans Midstream Acquires 100% Ownership of EQGP

PITTSBURGH–(BUSINESS WIRE)–Equitrans Midstream Corporation (NYSE: ETRN) has completed its exercise of the Limited Call Right, as previously announced, and has purchased all remaining common units in EQGP Holdings, LP (NYSE: EQGP) (EQGP Common Units) for $20.00 per unit in cash. Prior to the Limited Call Right, ETRN closed certain private purchase transactions and owned approximately … Read moreEquitrans Midstream Acquires 100% Ownership of EQGP

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U.S. sanctions against Nord Stream 2 wrong solution: Germany’s Maas

BERLIN (Reuters) – U.S. sanctions against the Russian-backed Nord Stream 2 pipeline would be the wrong way to solve a dispute over energy supply, German Foreign Minister Heiko Maas said on Thursday. U.S. President Donald Trump has accused Germany of being a “captive” of Russia due to its energy reliance and urged it to halt … Read moreU.S. sanctions against Nord Stream 2 wrong solution: Germany’s Maas

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Diesel futures point to economic slowdown in 2019: Kemp

By John Kemp LONDON (Reuters) – (John Kemp is a Reuters market analyst. The views expressed are his own) By the end of last year, hedge fund positions in diesel had fallen to a level normally associated with a sharp slowdown in economic growth if not an outright recession. Most middle distillate fuels such as … Read moreDiesel futures point to economic slowdown in 2019: Kemp

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GLOBAL LNG-Asian prices slide to 8-month low on mild winter

* Temperature at average to above average this week – data * Spot demand from China expected to be slow until Lunar New Year * Indian companies seek cargoes for Jan-Feb By Jessica Jaganathan SINGAPORE, Jan 11 (Reuters) – Asian spot prices for liquefied natural gas (LNG) slid to an eight-month low this week amid … Read moreGLOBAL LNG-Asian prices slide to 8-month low on mild winter

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Brent Crude Set for Longest-Ever Rally on OPEC, Economic Outlook

Oil Prices Up

Jan 11, 2019, by Grant Smith (Bloomberg) Oil rose for a 10th consecutive day in London, heading for its longest run of gains on record, as OPEC cutbacks reined in supply while reassurance from the Federal Reserve buoyed the outlook for demand. Futures returned to a bull market this week after recovering about 20 percent … Read moreBrent Crude Set for Longest-Ever Rally on OPEC, Economic Outlook

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Elliott’s QEP Bid Says It All About Frackers Now: Liam Denning

Jan 10, 2019, by Liam Denning (Bloomberg Opinion) Frackers are having their best week in a long time, courtesy of oil pushing back above $50 a barrel. One of them, QEP Resources Inc., got some more specific help in the form of a takeover offer from Elliott Management Corp. The nature of the bidder and the … Read moreElliott’s QEP Bid Says It All About Frackers Now: Liam Denning

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Five Things to Know in World Business Today

Jan 11, 2019, by Lorcan Roche Kelly (Bloomberg) Shutdown workaround President Donald Trump seems increasingly likely to declare a national emergency that would allocate funds for his border wall by diktat. Speculation increased after he closed off the only live negotiation on Capitol Hill aimed at resolving the ongoing shutdown, poised to become the longest in U.S. history. … Read moreFive Things to Know in World Business Today

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California Regulators to Try to Calculate PG&E Liabilities

Jan 10, 2019, by Mark Chediak (Bloomberg) California has already determined that PG&E Corp. is responsible for a string of wildfires in 2017. Regulators are now getting ready to figure out how much that could cost the company. The California Public Utilities Commission voted unanimously Thursday to open proceedings to develop a so-called stress test … Read moreCalifornia Regulators to Try to Calculate PG&E Liabilities

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Winners and Losers in Big Oil’s Offshore Spending Revival

Jan 11, 2019, by Francois de Beaupuy (Bloomberg) After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines. The long-awaited spending rebound will re-energize oil-services … Read moreWinners and Losers in Big Oil’s Offshore Spending Revival

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QEP Resources Announces Closing of Sale of Northwest Louisiana Natural Gas Assets

/EIN News/ — DENVER, Jan. 10, 2019 (GLOBE NEWSWIRE) — QEP Resources, Inc. (NYSE: QEP) (“QEP” or the “Company”) announced today that the sale of its natural gas and oil producing properties, undeveloped acreage and associated gas gathering and treating systems in the Haynesville/Cotton Valley has closed. As part of this transaction, Aethon III, an … Read moreQEP Resources Announces Closing of Sale of Northwest Louisiana Natural Gas Assets

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Start date for new Permian oil line in jeopardy on regulatory delay

NEW YORK (Reuters) – EPIC Crude Pipeline LP said the projected third-quarter start-up of its crude pipeline from the Permian basin to Corpus Christi, Texas is in “some jeopardy” after U.S. regulators delayed action on its petition to set initial tariff rates. The San Antonio, Texas, based company said in a letter to U.S. Federal … Read moreStart date for new Permian oil line in jeopardy on regulatory delay

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New Kind of Oklahoma Land Rush—Anadarko Basin’s Unconventional Reserves Estimated to be 16 Billion Barrels of Oil, 200 TCF Gas, IHS Markit Says

HOUSTON–(BUSINESS WIRE)–The Greater Anadarko Basin, a prolific source of conventional U.S. oil and gas production since the 1950s, holds an estimated 16 billion barrels of oil and more than 200 trillion cubic feet (TCF) of gas** in un-risked technically recoverable resources in unconventional reservoirs, according to new energy research from IHS Markit (Nasdaq: INFO), a … Read moreNew Kind of Oklahoma Land Rush—Anadarko Basin’s Unconventional Reserves Estimated to be 16 Billion Barrels of Oil, 200 TCF Gas, IHS Markit Says

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U.S. crude stocks fall less than expected, products build sharply: EIA

NEW YORK (Reuters) – U.S. crude oil stockpiles fell less than expected last week according to a largely bearish report on Wednesday from the Energy Information Administration, which also showed that gasoline and distillate inventories rose more than expected. Crude inventories fell by 1.7 million barrels in the week to Jan. 4, compared with analysts’ … Read moreU.S. crude stocks fall less than expected, products build sharply: EIA

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Saudi Arabia to trim oil exports further in February

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

RIYADH (Reuters) – Top oil exporter Saudi Arabia plans to lower its shipments further in February as it follows through on a global deal to cut output to prevent a build-up in supplies. Saudi Energy Minister Khalid al-Falih told a news conference in Riyadh on Wednesday that the kingdom would export 7.1 million barrels per … Read moreSaudi Arabia to trim oil exports further in February

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Trade war cuts U.S. LNG exports to China in 2018

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

(Reuters) – The number of U.S. liquefied natural gas vessels that went to China in 2018 fell by around 20 percent from the prior year as the trade war between Beijing and Washington heated up. In recent weeks, however, that dispute has cooled somewhat with talks in China this week between Chinese and U.S. trade … Read moreTrade war cuts U.S. LNG exports to China in 2018

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COLUMN-U.S. natural gas prices sink on mild weather and hedge fund sales: Kemp

Natural Gas

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2RIgtvy By John Kemp LONDON, Jan 9 (Reuters) – U.S. natural gas prices have fallen sharply as the unusual cold weather of late November and early December has given way to warmer-than-normal temperatures in the last four weeks. Futures prices … Read moreCOLUMN-U.S. natural gas prices sink on mild weather and hedge fund sales: Kemp

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Insurance co does not have to defend Murphy Oil in refinery fire claims

By Dena Aubin (Reuters) Liberty Mutual Fire Insurance does not have to defend Murphy Oil against an estimated $25 million in claims for a major fire in 2012 at a South Louisiana refinery it used to own, a federal judge in Arkansas ruled. In a decision on Tuesday, U.S. District Judge Timothy Brooks in El … Read moreInsurance co does not have to defend Murphy Oil in refinery fire claims

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Iran will not comply with ‘illegal’ U.S. sanctions: oil minister

BAGHDAD (Reuters) – Iranian Oil Minister Bijan Zanganeh said on Thursday U.S. sanctions against his country were “fully illegal” and Tehran would not comply with them. “We believe that we should not comply with the illegal sanctions against Iran,” Zanganeh told a joint news conference in Baghdad with his Iraqi counterpart, Thamer al-Ghadhban. Zanganeh also … Read moreIran will not comply with ‘illegal’ U.S. sanctions: oil minister

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Oil Near One-Month High Amid OPEC Cuts, Economic Uncertainty

Jan 10, 2019, by Grant Smith (Bloomberg) Oil traded near a one-month high after entering a bull market, while the tension between an uncertain economic outlook and efforts by OPEC to restrict supplies continued to cause volatile trading. West Texas Intermediate slipped 0.5 percent after a rally on Wednesday brought crude’s rebound from an 18-month … Read moreOil Near One-Month High Amid OPEC Cuts, Economic Uncertainty

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Five Things to Know in World Business Today

Jan 10, 2019, by Lorcan Roche Kelly (Bloomberg) Mexican standoff Yesterday’s meeting between President Donald Trump and Congressional Democrat leaders produced no progress towards resolving the government shutdown as talks collapsed soon after they began. Trump, who walked out of the discussion yesterday, is travelling to the Mexican border today to rally support for his … Read moreFive Things to Know in World Business Today

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Saudi to work closely with U.S. on nuclear power plans: Falih

RIYADH (Reuters) – Saudi Arabia aims to work closely with the United States on its plans to build nuclear power generation capacity in the oil producing kingdom, the energy minister said on Wednesday. Riyadh wants Washington to be “part and parcel” of Saudi Arabia’s nuclear program, which will be entirely for peaceful purposes, Energy Minister … Read moreSaudi to work closely with U.S. on nuclear power plans: Falih

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How Minnesota Could Economically Reach 70 percent Renewable Electricity

January 9, 2019, by Frank Jossi (Renewable Energy World) A November report suggests overbuilding wind and solar capacity could be cheaper than energy storage. A recent report from Minnesota pollution regulators shows the state is making progress on reducing greenhouse gas emissions, but it isn’t doing enough to keep pace with its long-term goals or … Read moreHow Minnesota Could Economically Reach 70 percent Renewable Electricity

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Trump administration working on Arctic oil leases despite shutdown

ANCHORAGE, Alaska (Reuters) – Even as a partial shutdown halts the functions of many U.S. government departments, forcing the Department of the Interior to close national parks, the Trump administration is continuing to push for the expansion of oil drilling on sensitive, federally owned lands in Arctic Alaska. The Alaska Bureau of Land Management (BLM), … Read moreTrump administration working on Arctic oil leases despite shutdown

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Drillform is looking to hire a Houston based US Sales Manager

Sales Manager Position Open Drillform is a specialty equipment designer and manufacturer delivering leading-edge automated drilling equipment. Headquartered in Calgary, Alberta Drillform has additional office and service facilities in Odessa, Texas and Abu Dhabi, UAE. Drillform has brought to market the Bulldog product suite of equipment consisting of automated iron roughnecks, top drives, drawworks, power … Read moreDrillform is looking to hire a Houston based US Sales Manager

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U.S. top court rejects Exxon in climate change document dispute

(Reuters) – The U.S. Supreme Court on Monday cleared the way for the attorney general of Massachusetts to obtain records from Exxon Mobil Corp(XOM.N) to probe whether the oil company for decades concealed its knowledge of the role fossil fuels play in climate change. The justices declined to hear Exxon’s appeal of a ruling by … Read moreU.S. top court rejects Exxon in climate change document dispute

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U.S. oil export boom sparks a battle to build Texas ports

CORPUS CHRISTI, TEXAS (Reuters) – Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years. Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus … Read moreU.S. oil export boom sparks a battle to build Texas ports

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TransCanada’s Re-Blanding Part of a Rich Tradition: Liam Denning

Jan 9, 2019 by Liam Denning (Bloomberg Opinion)  W.C. Fields had it right: “It ain’t what they call you, it’s what you answer to.” Still, when the word “Canada” is in your name, it’s really tough to shake off the impression that you’re somehow inextricably linked with a certain country called Canada. Not that TransCanada … Read moreTransCanada’s Re-Blanding Part of a Rich Tradition: Liam Denning

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Chesapeake Energy sees drop in fourth-quarter production

(Reuters) – U.S. natural gas producer Chesapeake Energy Corp (CHK.N) said on Wednesday it expects fourth-quarter production drop to between 462,000 and 464,000 barrels of oil equivalent (boe) per day. The company had reported 593,200 boe in the year-ago period. Chesapeake said it would cut its 2019 capital expenditure by lowering its rig count by … Read moreChesapeake Energy sees drop in fourth-quarter production

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Chaparral Energy Announces Year-end 2018 Reserves and Provides Operational Update

OKLAHOMA CITY, Jan. 08, 2019 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (NYSE: CHAP) today announced 2018 year-end SEC reserves and preliminary operational results, as well as additions to its hedge portfolio. Highlights Increased year-end 2018 proved reserves to 94.8 million barrels of oil equivalent (MMBoe), up 35% compared to year-end 2017 proved reserves adjusted for … Read moreChaparral Energy Announces Year-end 2018 Reserves and Provides Operational Update

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Energy Transfer Operating, L.P. Announces Pricing of $4.0 Billion of Senior Notes

DALLAS–(BUSINESS WIRE)–Energy Transfer Operating, L.P. (formerly, Energy Transfer Partners, L.P., and a subsidiary of Energy Transfer LP) (“ETO”) today announced the pricing of its $750 million aggregate principal amount of 4.500% senior notes due 2024, $1.5 billion aggregate principal amount of 5.250% senior notes due 2029 and $1.75 billion aggregate principal amount of 6.250% senior … Read moreEnergy Transfer Operating, L.P. Announces Pricing of $4.0 Billion of Senior Notes

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Chevron, Occidental invest in CO2 removal technology

LONDON (Reuters) – Canada-based Carbon Engineering said on Wednesday it had received investment from a subsidiary of Occidental Petroleum Corp. and the venture capital arm of Chevron Corp. for its technology that removes carbon dioxide directly from the air. Oxy Low Carbon Ventures, a subsidiary of Occidental Petroleum Corporation, and Chevron Technology Ventures, the venture … Read moreChevron, Occidental invest in CO2 removal technology

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Five Things to Know in World Business Today

Jan 9, 2019, by Lorcan Roche Kelly (Bloomberg) Trade hopes China and the U.S. wrapped up trade talks, which had been extended into a third day, on an optimistic note. While there is still some distance between both sides on some of the harder issues, people familiar with the positions said that progress had been … Read moreFive Things to Know in World Business Today

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UAE says 1.2m barrel-per-day reduction ‘enough’ to balance market

Mazrouei_Energy_Minister

By Bernd Debusmann Jr (Arabian Business) UAE Energy Minister Suhail Al Mazroui’s comments follow Vienna meeting, where reduction was agreed. A production cut of 1.2 million barrels of oil per day (mbpd) is ‘enough’ to balance the oil market, according to UAE Energy Minister Suhail Al Mazroui. The Minister’s comments come just over a month … Read moreUAE says 1.2m barrel-per-day reduction ‘enough’ to balance market

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EPA says it is committed to rule for higher ethanol blend by summer driving season

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. REUTERS/Jim Young

NEW YORK/WASHINGTON (Reuters) – The U.S. Environmental Protection Agency said on Tuesday it would complete a rule to boost sales of higher-ethanol blends of gasoline by the summer driving season, despite a partial government shutdown. The statement from the environmental regulator came after the agency warned at least two lawmakers that the shutdown had delayed … Read moreEPA says it is committed to rule for higher ethanol blend by summer driving season

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Valero ordered to shut two fuel pipelines at Britain’s Milford Haven

LONDON (Reuters) – The Welsh government environment agency, Natural Resources Wales (NRW), has issued an enforcement notice to suspend two fuel pipelines on the Valero refinery jetty in Milford Haven, it said on Tuesday. “The notice was issued after pollution incidents affected water, land and wildlife along the coast in December and the first week … Read moreValero ordered to shut two fuel pipelines at Britain’s Milford Haven

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BP unlocks a billion oil barrels in Gulf of Mexico with new technology

LONDON (Reuters) – BP said it has discovered two new oilfields in the Gulf of Mexico and has identified an additional billion barrels of oil at an existing field thanks to new seismic technology. The British company, which has only recently turned a corner following the deadly 2010 Deepwater Horizon spill, also on Tuesday announced … Read moreBP unlocks a billion oil barrels in Gulf of Mexico with new technology

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Volkswagen Plans Green-Power Alternative to Tesla’s Energy Push

Volkswagen Electric Car

Jan 8, 2019, by Oliver Sachgau (Bloomberg) Volkswagen AG is setting up its own charging and electricity unit in a bid to make the German manufacturer’s upcoming battery-powered cars more attractive to buyers. Elli Group GmbH will supply households with renewable power and charging systems, and offer infrastructure for offices and shopping centers. Elli’s portfolio … Read moreVolkswagen Plans Green-Power Alternative to Tesla’s Energy Push

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Virginia gives Dominion permit for Atlantic Coast natgas pipe compressor

(Reuters) – An environmental board in Virginia unanimously approved an air permit for a compressor station on Tuesday for Dominion Energy Inc’s planned nearly $7 billion Atlantic Coast natural gas pipeline from West Virginia to North Carolina. The fight over the permit was just one of several battles Atlantic Coast and other pipelines are facing … Read moreVirginia gives Dominion permit for Atlantic Coast natgas pipe compressor

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State lawmakers join forces against offshore drilling

PORTLAND, Maine — A group of nine Democratic state lawmakers from different coastal states announced Tuesday that they are going to use their coming legislative sessions to try to block attempts at offshore drilling. The lawmakers’ announcement came as new and re-elected legislators were entering office around the country after an election that saw high … Read moreState lawmakers join forces against offshore drilling

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US government says shutdown shouldn’t stop Keystone XL hearing

TranCanada Keystone XL Pipeline sign

HELENA, Mont. — The U.S. government shutdown may prevent Justice Department attorneys from going before a Montana judge next week to ask him to lift his hold on Keystone XL oil pipeline construction. But the federal attorneys and the Canadian company that wants to build the pipeline say their absence shouldn’t delay Monday’s hearing on … Read moreUS government says shutdown shouldn’t stop Keystone XL hearing

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U.S. carbon emissions spike in 2018 on industry, fuel demand

WASHINGTON (Reuters) – U.S. emissions of carbon dioxide, the main greenhouse gas, spiked last year after falling for the previous three, as cold weather spurred natural gas demand for heating and as the economy pushed planes and trucks to guzzle fuel, an estimate released on Tuesday showed. The Rhodium Group, an independent research group, said … Read moreU.S. carbon emissions spike in 2018 on industry, fuel demand

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U.S. LNG producers face risk unless trade war resolved: energy group

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

WASHINGTON (Reuters) – The nascent U.S. liquefied natural gas export industry has been particularly vulnerable to the U.S.-China trade war, the head of the American Petroleum Institute industry group said on Tuesday, adding that he hopes negotiators will soon resolve the dispute. Mike Sommers, the president and CEO of the American Petroleum Institute, told reporters … Read moreU.S. LNG producers face risk unless trade war resolved: energy group

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Occidental Petroleum sees 2019 capex range of $4.4 billion-$5.3 billion

(Reuters) – U.S. oil and gas producer Occidental Petroleum Corp said on Monday it expects to spend $4.4 billion to $5.3 billion this year, depending on the price of crude oil. Houston-based Oxy spent around $5 billion in 2018. The company is one of the largest producers in the Permian Basin, the biggest U.S. oil … Read moreOccidental Petroleum sees 2019 capex range of $4.4 billion-$5.3 billion

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QEP Resources Confirms Receipt of Proposal from Elliott

DENVER , Jan. 07, 2019 (GLOBE NEWSWIRE) — QEP Resources, Inc.(NYSE: QEP) (“QEP” or the “Company”) today confirmed that it has received a preliminary proposal from Elliott Management Corp. (“Elliott”) to acquire the Company for $8.75 per share in cash, subject to certain conditions including, among others, satisfactory completion of due diligence and negotiation of definitive documentation. … Read moreQEP Resources Confirms Receipt of Proposal from Elliott

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ExxonMobil and IBM to Advance Energy Sector Application of Quantum Computing

LAS VEGAS–(BUSINESS WIRE)–ExxonMobil said today that it has signed a partnership agreement with IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies. The new partnership was formally announced during the 2019 Consumer Electronics Show (CES) in Las Vegas. As part of the agreement, ExxonMobil becomes the first energy … Read moreExxonMobil and IBM to Advance Energy Sector Application of Quantum Computing

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Baker Hughes, a GE company Announces December 2018 Rig Counts

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for December 2018 was 1,025, up 34 from the 991 counted in November 2018, and up 71 from the 954 counted in December 2017. The international offshore rig count for December 2018 was 234, up 28 from … Read moreBaker Hughes, a GE company Announces December 2018 Rig Counts

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Oil Extends Longest Rally in 17 Months as Supplies Seen Tighter

Jan 8, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil extended its longest run of daily gains in 17 months on renewed efforts between the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts. Futures in New York increased as much as 1.6 percent … Read moreOil Extends Longest Rally in 17 Months as Supplies Seen Tighter

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Pollution Got Worse in 2018 Thanks to Two Overlooked Sectors

Jan 8, 2019, by Eric Roston (Bloomberg) In the debate over climate change, the heaviest polluters — think: power plants, trucks and cars — get the most attention from policy makers. New research suggests a broader view might be called for. A pair of often-overlooked sectors posted the largest rises in carbon dioxide pollution in … Read morePollution Got Worse in 2018 Thanks to Two Overlooked Sectors

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Trump Is Giving Oil Industry a Bye in Shutdown, Critics Allege

Refinery

Jan 8, 2019, by Jennifer A. Dlouhy (Bloomberg) The partial U.S. government shutdown has docked fishing boats in Alaska, delayed public meetings on a proposed wind farm off the Massachusetts coast and blocked pharmaceutical companies from seeking approval for new drugs. But the Trump administration is working overtime to make sure the shutdown doesn’t halt … Read moreTrump Is Giving Oil Industry a Bye in Shutdown, Critics Allege

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Five Things to Know in World Business Today

Jan 8, 2019, by Lorcan Roche Kelly (Bloomberg) Wallpower President Donald Trump is due to address the nation during prime time this evening on the “national security crisis” at the southern U.S. border. Trump’s choice of words is no accident, as people familiar with the president’s thinking say he is eager to invoke a national … Read moreFive Things to Know in World Business Today

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Judge allows tribes to challenge Corps’ Dakota Access study

Cedar George-Parker addresses the crowd as protesters opposed to the Kinder Morgan Trans Mountain pipeline extension defy a court order and block an entrance to the company's property, in Burnaby, B.C., on Saturday April 7, 2018. THE CANADIAN PRESS/Darryl Dyck

BISMARCK, N.D. — A federal judge is allowing four Native American tribes in the Dakotas to challenge the recent conclusion of federal officials that a Dakota Access oil pipeline spill wouldn’t unfairly affect them, further prolonging a court case that has lingered for more than two years. The Standing Rock, Cheyenne River, Yankton and Oglala … Read moreJudge allows tribes to challenge Corps’ Dakota Access study

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TransCanada’s Marketlink crude line to cut some rates from Cushing

NEW YORK, Jan 7 (Reuters) – TransCanada Corp’s Marketlink pipeline filed with U.S. energy regulators to cut certain spot rates to haul crude from Cushing, Oklahoma to Port Arthur and Houston, Texas, in a move expected to draw down inventories at the storage hub: * The pipeline plans to reduce the temporary discounted spot rate … Read moreTransCanada’s Marketlink crude line to cut some rates from Cushing

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U.S. crude stockpiles likely fell last week, products build again

(Reuters) – U.S. crude oil inventories were forecast to have declined last week, while analysts expected a build in refined products, the third weekly increase in a row, a preliminary Reuters poll showed on Monday. Six analysts polled by Reuters estimated, on average, that crude stocks fell 3.3 million barrels in the week to Jan. … Read moreU.S. crude stockpiles likely fell last week, products build again

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BP Is Said to Plan Sale of North Sea Shearwater Stake

BP Gas Station

Jan 7, 2019, by Kelly Gilblom and Dinesh Nair (Bloomberg) BP Plc is considering selling its stake in the Shearwater assets in the North Sea as it focuses on new projects in the area and expands in U.S. shale, according to people familiar with the matter. The British company has contacted potential buyers, the people … Read moreBP Is Said to Plan Sale of North Sea Shearwater Stake

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Tesla’s Life After Hell: 7 Charts Show Musk on Firmer Footing

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

Jan 7, 2019, by Tom Randall (Bloomberg) One year ago, Tesla Inc. was struggling to turn out a few hundred Model 3 sedans in a week—and then things got worse. Elaborate plans for factory automation had to be scrapped at extraordinary cost, debts piled up and investors were spooked. At the lowest moments of 2018, Chief Executive Office Elon Musk said, the company … Read moreTesla’s Life After Hell: 7 Charts Show Musk on Firmer Footing

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S. Carolina joins offshore drilling lawsuit

COLUMBIA, S.C. — South Carolina will join a federal lawsuit opposing the Trump administration’s plans to conduct offshore drilling tests, becoming the latest coastal state to take legal action against the proposal. On Monday, Attorney General Alan Wilson told The Associated Press that he has petitioned to join a lawsuit already filed by 16 South … Read moreS. Carolina joins offshore drilling lawsuit

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U.S. Eagle Ford Oil Growth to Stall in 2019 Amid Weak Prices

Jan 7, 2019, by Sheela Tobben (Bloomberg) Drillers in the Eagle Ford, Texas’s other shale oil patch, will likely scale back activity in 2019 as lower crude prices eat into cash flows. Production has already started slowing. Supplies this month are expected to average below 1.3 million barrels a day for the first time since … Read moreU.S. Eagle Ford Oil Growth to Stall in 2019 Amid Weak Prices

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U.S. top court rejects Exxon in climate change document dispute

(Reuters) – The U.S. Supreme Court on Monday cleared the way for the attorney general of Massachusetts to obtain records from Exxon Mobil Corp(XOM.N) to probe whether the oil company for decades concealed its knowledge of the role fossil fuels play in climate change. The justices declined to hear Exxon’s appeal of a ruling by … Read moreU.S. top court rejects Exxon in climate change document dispute

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Elliott Makes $2 Billion Offer for Oil Driller QEP Resources

Jan 7, 2019, by Simon Casey and Scott Deveau (Bloomberg) Elliott Management Corp. made a $2 billion proposal to acquire the portion of QEP Resources Inc. that it doesn’t already own as the activist investor expands its private equity prowess into the energy space. The New York-based hedge fund run by billionaire Paul Singer said … Read moreElliott Makes $2 Billion Offer for Oil Driller QEP Resources

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Last year was fourth warmest as greenhouse gases rise – Copernicus

OSLO (Reuters) – Last year was the fourth warmest on record, extending a scorching streak driven by rising concentrations of man-made greenhouse gases, the European Union’s Copernicus Climate Change Service said on Monday. Average world surface air temperatures were 14.7 Celsius (58.5 Fahrenheit) in 2018, 0.2C less than 2016 which was the hottest year on … Read moreLast year was fourth warmest as greenhouse gases rise – Copernicus

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Venezuelan crude sales to U.S. drop to lowest in almost 30 years

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

By Marianna Parraga Jan 7 (Reuters) – Venezuelan crude exports to the United States last year fell 15 percent to the lowest annual average in nearly three decades, according to Refinitiv Eikon data, as fast-declining oil output and financial sanctions continued to hit sales. Crude volumes to the United States by state-run PDVSA and its … Read moreVenezuelan crude sales to U.S. drop to lowest in almost 30 years

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U.S. crude starting to seep back to China, but needs lower price: Russell

By Clyde Russell LAUNCESTON, Australia (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters.) U.S. crude oil is starting to trickle back to China with three cargoes slated to arrive next month, but volumes are still a long way off levels prior to the outbreak of trade hostilities between … Read moreU.S. crude starting to seep back to China, but needs lower price: Russell

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Commentary: Hedge funds dump crude and diesel as economic outlook darkens

LONDON (Reuters) – Hedge funds are cautious on the outlook for oil prices, despite a slump at the end of last year, as fears about the global economy outweigh output cuts by OPEC and its allies. Fund managers cut bullish positions in Brent crude futures and options by 10 million barrels in the week to … Read moreCommentary: Hedge funds dump crude and diesel as economic outlook darkens

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Hess Provides Update on Drilling and Development Activities Offshore Guyana

NEW YORK–(BUSINESS WIRE)–Hess Corporation (NYSE: HES) said today that drilling has begun on the Haimara-1 exploration well offshore Guyana, the first of two planned exploration wells in January. The Stena Carron drillship is drilling the Haimara-1 well, located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeastern part of the Stabroek Block. … Read moreHess Provides Update on Drilling and Development Activities Offshore Guyana

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Range Provides 2018 Capital Spending and Operational Update

FORT WORTH, Texas, Jan. 07, 2019 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE:  RRC) today announced that 2018 capital spending is currently estimated to be approximately $20 million below the $941 million budgeted for the year.  The Company’s 2018 program was better than budget as a result of savings from a variety of sources, including drilling … Read moreRange Provides 2018 Capital Spending and Operational Update

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ExxonMobil Begins Drilling Haimara-1 Exploration Well Offshore Guyana

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeast Stabroek Block. The Noble Tom Madden drillship is … Read moreExxonMobil Begins Drilling Haimara-1 Exploration Well Offshore Guyana

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Oil Set for Longest Gain in 17 Months on U.S. Economy, OPEC Cuts

Jan 7, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil headed for its longest stretch of daily increases in more than 17 months as the U.S. Federal Reserve sought to soothe investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect. Futures in New York rose as much as 3.2 … Read moreOil Set for Longest Gain in 17 Months on U.S. Economy, OPEC Cuts

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OPEC Strategy Still a Winner for Members Despite Oil Slump

Jan 5, 2019, by Grant Smith (Bloomberg) Given oil’s plummet at the end of last year, OPEC’s strategy to stabilize the market might look a bust. But where it matters most for the cartel’s members — petroleum revenues — it’s still a winner. Crude prices in London have sunk back to the same range when … Read moreOPEC Strategy Still a Winner for Members Despite Oil Slump

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GE Should Engage With Everyone on Asset Sales: Brooke Sutherland

The logo of General Electric is seen at its plant in Baden, Switzerland November 15, 2017. REUTERS/Arnd Wiegmann

Jan 4, 2019, by Brooke Sutherland (Bloomberg Opinion) New General Electric Co. CEO Larry Culp could help himself out by accelerating asset sales. Shares of the troubled industrial conglomerate climbed in late trading on Friday after Bloomberg News reported Apollo Global Management was considering a bid for the company’s GE Capital Aviation Services jet-leasing business. A deal, … Read moreGE Should Engage With Everyone on Asset Sales: Brooke Sutherland

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Five Things to Know in World Business Today

Jan 7, 2019, by Lorcan Roche Kelly (Bloomberg) Talks start The first day of negotiations between the world’s two largest economies on resolving their trade dispute seem to have got off to a good start, with Chinese Vice Premier Liu He unexpectedly attending what was meant to be a discussion between lower-ranking officials. While no breakthrough … Read moreFive Things to Know in World Business Today

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Activist seeks dismissal from pipeline racketeering lawsuit

Cedar George-Parker addresses the crowd as protesters opposed to the Kinder Morgan Trans Mountain pipeline extension defy a court order and block an entrance to the company's property, in Burnaby, B.C., on Saturday April 7, 2018. THE CANADIAN PRESS/Darryl Dyck

BISMARCK, N.D. — An American Indian and environmental activist named in a federal racketeering lawsuit says her opposition to the Dakota Access oil pipeline was constitutionally protected free speech, not an attempt to incite violence as the company alleges. Krystal Two Bulls asked a judge in a court filing last month to dismiss her from … Read moreActivist seeks dismissal from pipeline racketeering lawsuit

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Saudis Slash Oil Output. Get Ready for Trump Tweets: Julian Lee

Jan 5, 2019, by Julian Lee (Bloomberg Opinion) The list of things that President Donald Trump criticizes in his tweets varies from one day to the next. He may soon have to direct his ire to oil prices and the actions of his ally, Saudi Arabia, once again. The desert kingdom is already making good … Read moreSaudis Slash Oil Output. Get Ready for Trump Tweets: Julian Lee

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Texas Snaps 2 Years of Oilfield Job Growth as Crude Slides

Rig Worker

Jan 4, 2019, by David Wethe (Bloomberg) Jobs in the Texas oil patch dropped for the first time in almost two years, according to the state’s workforce commission. The number of workers handling exploration and drilling duties fell by 500 to 247,700 in November compared with the previous month, according to the latest data from … Read moreTexas Snaps 2 Years of Oilfield Job Growth as Crude Slides

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Trump Credits `Talent’ for Gas Price, Suggests OPEC Monopoly

Jan 4, 2019, by Tina Davis and Stephen Cunningham (Bloomberg) President Donald Trump said OPEC “is essentially a monopoly,” even as he credited his own “talent” for having brought down oil prices. “Four months ago, oil hit $83 a barrel,” Trump told reporters in the Rose Garden after meeting with Congressional leaders to try and … Read moreTrump Credits `Talent’ for Gas Price, Suggests OPEC Monopoly

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Goldman Slashes Oil Forecasts as New Supply Seen Plentiful

Jan 7, 2019, by Dan Murtaugh (Bloomberg) Goldman Sachs Group Inc. cut its oil price forecasts for 2019, citing a re-emerging surplus and resilient U.S. shale production. Global benchmark Brent crude will average $62.50 a barrel this year, analysts including Damien Courvalin said in a Jan. 6 note, down from a previous estimate of $70. … Read moreGoldman Slashes Oil Forecasts as New Supply Seen Plentiful

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Shell starts new unit at Geismar chemical plant in Louisiana

Shell Gas Station

LONDON (Reuters) – Royal Dutch Shell has started production of the fourth alpha olefins unit at its Geismar, Louisiana, chemical manufacturing site, the Anglo-Dutch company said on Monday. The new unit started production in December and will increase the annual output of the Geismar plant by 425,000 tonne to 1.3 million tonnes. Alpha olefins are … Read moreShell starts new unit at Geismar chemical plant in Louisiana

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Osprey Informatics Secures Financing from Shell Ventures, Evok Innovations and InterGen Capital for Intelligent Visual Monitoring Platform

Osprey Logo - December 2018 Update Feature

CALGARY, CANADA – Osprey Informatics (“Osprey”), a provider of intelligent visual monitoring solutions for industrial operations, today announced that it has closed a $3.75 Million CAD investment round led by Shell Ventures LLC and Evok Innovations, with participation from InterGen Capital and current shareholders. The investment will be used to drive sales expansion and to bring … Read moreOsprey Informatics Secures Financing from Shell Ventures, Evok Innovations and InterGen Capital for Intelligent Visual Monitoring Platform

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

Jan 4 (Reuters) – U.S. energy firms cut oil rigs for the first time in three weeks as producers started to reduce their 2019 drilling plans with the collapse in crude prices at the end of last year. Drillers cut eight oil rigs in the week to Jan. 4, bringing the total count down to … Read moreU.S. oil drillers cut rigs for first week in three – Baker Hughes

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Concho Resources Inc. Announces New Leadership Appointments

MIDLAND, Texas–(BUSINESS WIRE)–Concho Resources Inc. (NYSE: CXO) (the “Company” or “Concho”) today announced a series of leadership changes that enhance and expand the Company’s management team and position the Company for continued value creation. As previously disclosed and planned, Will Giraud has assumed the position of Executive Vice President and Chief Operating Officer, succeeding Joe … Read moreConcho Resources Inc. Announces New Leadership Appointments

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Record LNG capacity to get green light in 2019 amid strong demand

LNG And LPG Operations At Aqaba Port, Jordan

* Final investment decision seen for over 60 mln T of LNG * LNG supply to grow by record 40 mln T in 2019 – Woodmac * Economic uncertainty may put pressure on prices, demand * Globally shipped LNG volumes: tmsnrt.rs/2RCoWRf By Jessica Jaganathan SINGAPORE, Jan 4 (Reuters) – A record amount of liquefied natural … Read moreRecord LNG capacity to get green light in 2019 amid strong demand

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Saudi Arabia’s Great Run Seems Headed for Trouble: Noah Smith

Jan 4, 2019, by Noah Smith (Bloomberg Opinion) On the surface, Saudi Arabia and its ruling family — an absolute monarchy flush with oil wealth — look secure in their power. Despite oil price fluctuations, income per person has been more or less constant for many years now: In purchasing power parity terms, Saudi Arabia … Read moreSaudi Arabia’s Great Run Seems Headed for Trouble: Noah Smith

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Oil Set for Biggest Weekly Gain Since 2016 on Saudi Supply Cut

Jan 4, 2019, by Heesu Lee and Grant Smith (Bloomberg) Brent crude headed for its biggest weekly gain since December 2016 as Saudi Arabia’s production cuts outweighed concerns over the health of the global economy. The global benchmark is on track for an 9.4 percent advance this week, ending three consecutive weeks of losses. Prices … Read moreOil Set for Biggest Weekly Gain Since 2016 on Saudi Supply Cut

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Five Things to Know in World Business Today

Jan 4, 2019, by Lorcan Roche Kelly (Bloomberg) Payrolls Today’s U.S. jobs data for December is expected to show employers added 184,000 positions when the number is released at 8:30 a.m. Eastern Time. Forecasts suggest the jobless rate will hold at 3.7 percent and wage growth will cool slightly to 3.0 percent. Should today’s number turn out … Read moreFive Things to Know in World Business Today

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COLUMN-U.S. economy flashes warning signs of impending slowdown: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2Sy98Mh By John Kemp LONDON, Jan 3 (Reuters) – U.S. manufacturers reported the broadest slowdown in growth last month for more than a decade, as the trade conflict with China, falling equity prices and increasing uncertainty finally started to take a … Read moreCOLUMN-U.S. economy flashes warning signs of impending slowdown: Kemp

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What to Watch in Commodities in 2019: Winners and Losers Line-Up

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

Jan 4, 2019, by Jeremy Hill, Ranjeetha Pakiam and Jake Lloyd-Smith (Bloomberg) Commodities took a kicking in 2018 — with deep losses in everything from oil and copper to coffee and sugar — so what’s in store for the 12 months to come? The inaugural What to Watch of the year offers a selective run … Read moreWhat to Watch in Commodities in 2019: Winners and Losers Line-Up

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OPEC sends fewest oil cargoes to United States in at least five years

HOUSTON (Reuters) – OPEC crude cargoes leaving for the United States in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show. Oil cargoes departing from OPEC nations to the United States fell to 1.63 million barrels per day (bpd) last month, down from … Read moreOPEC sends fewest oil cargoes to United States in at least five years

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Farmers Fear Another Hit as Trump Shutdown Threatens Ethanol Vow

Jan 4, 2019, by Mario Parker and Jennifer A. Dlouhy (Bloomberg) Bruce Buchanan was so elated with Donald Trump’s October vow to allow higher sales of corn-based ethanol that he carved a 60-acre thank you note in his Indiana cornfield. Now, though, the president’s actions have him worried. The government shutdown that Trump says could … Read moreFarmers Fear Another Hit as Trump Shutdown Threatens Ethanol Vow

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More Cooling, Less Heating, Maybe Less Energy Use: Justin Fox

Jan 3, 2019, by Justin Fox (Bloomberg Opinion) Last summer was quite hot in many parts of the U.S., although it wasn’t a record-breaker for the country as a whole. The National Oceanic and Atmospheric Administration’s National Climatic Data Center is currently offline due to the government shutdown, but I downloaded some statistics a few weeks … Read moreMore Cooling, Less Heating, Maybe Less Energy Use: Justin Fox

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U.S. crude inventories seen down for fifth straight week

REUTERS ACTUAL FOR CHANGE VS YR-AGO FORECAST FOR WEEK (EIA) PREVIOUS CHANGE WEEK WEEK ENDED ENDED WEEK ENDED 12/28/18 12/21/18 12/29/17 CRUDE -3.1 MLN 441.4 MLN 0.0 MLN -7.4 MLN DISTILLATE 1.6 MLN 119.9 MLN 0.0 MLN 8.9 MLN GASOLINE 2.0 MLN 233.1 MLN 3.0 MLN 4.8 MLN REFINERY RUNS 0.5 PCT PT 95.1 PCT … Read moreU.S. crude inventories seen down for fifth straight week

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U.S. energy executives’ outlook sours for first time since 2016: Fed survey

(Reuters) – U.S. oil and gas executives’ outlook turned negative for the first time since the low point of the last oil bust, according to results of a survey released on Thursday by the Federal Reserve Bank of Dallas. A survey of executive sentiment fell to -10 from 47 in the prior quarter, the first … Read moreU.S. energy executives’ outlook sours for first time since 2016: Fed survey

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Valero reports oil product leak in Britain’s Milford Haven waterway

LONDON (Reuters) – Valero Energy Corp said on Thursday that an unknown amount of oil product had spilled into the Milford Haven waterway in Pembroke in Wales. “Valero is working in coordination with response agencies to contain the effects from the release of oil,” it said in an emailed statement. Valero operates the 220,000 barrel … Read moreValero reports oil product leak in Britain’s Milford Haven waterway

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Factory-Gauge Plunge Fuels Concerns That U.S. Growth Is Slowing

Jan 3, 2019, by Jeff Kearns and Katia Dmitrieva (Bloomberg) A gauge of U.S. manufacturing plunged by the most since the 2008 recession a day after Apple Inc. cut its revenue outlook, fueling concern that the trade war with China is taking a bigger-than-expected toll on economic growth. The Institute for Supply Management index dropped to … Read moreFactory-Gauge Plunge Fuels Concerns That U.S. Growth Is Slowing

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China cuts refiners’ oil import quotas with first 2019 allowances

SINGAPORE/BEIJING (Reuters) – China issued its first batch of crude oil import quotas for 2019 on Wednesday at a lower volume than for the same batch a year ago though expectations are for the volumes to climb later this year. The Ministry of Commerce granted quotas totaling 89.84 million tonnes to 58 companies in its … Read moreChina cuts refiners’ oil import quotas with first 2019 allowances

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SoCalGas urges consumers to conserve natgas during cold snap

Jan 2 (Reuters) – Southern California Gas Co (SoCalGas) urged consumers to reduce their natural gas use through Wednesday to avoid straining its system as cold weather blankets parts of its service area: * In addition to asking homes and businesses to cut back on gas use, SoCalGas, a unit of California energy company Sempra … Read moreSoCalGas urges consumers to conserve natgas during cold snap

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Renewables overtake coal as Germany’s main energy source

Wind Turbine

FRANKFURT (Reuters) – Renewables overtook coal as Germany’s main source of energy for the first time last year, accounting for just over 40 percent of electricity production, research showed on Thursday. The shift marks progress as Europe’s biggest economy aims for renewables to provide 65 percent of its energy by 2030 in a costly transition … Read moreRenewables overtake coal as Germany’s main energy source

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COLUMN-Fear sends equity and commodity prices tumbling in 2018: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2AtMMVh By John Kemp LONDON, Jan 2 (Reuters) – Fear became the dominant sentiment in 2018, especially in the second half of the year, as growing pessimism about the future gripped policymakers, business leaders, investors and journalists. Those best able … Read moreCOLUMN-Fear sends equity and commodity prices tumbling in 2018: Kemp

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Five Things to Know in World Business Today

Jan 3, 2019, by Lorcan Roche Kelly (Bloomberg) Canary in the global economy Apple Inc. cited weaker demand in China when it cut its revenue outlook for the first time in almost 20 years. In a letter to investors, posted after U.S. markets closed yesterday, CEO Tim Cook said sales would be about $84 billion … Read moreFive Things to Know in World Business Today

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OPEC oil output falls most in two years as Saudi Arabia makes cuts

By Bloomberg Saudi Arabia throttles back production, according to a Bloomberg survey of officials, analysts and ship-tracking data. Before its agreement to cut oil supplies even started, OPEC’s production plunged by the most in almost two years last month. In a sign of the urgency felt by the cartel amid tumbling crude prices, leading member … Read moreOPEC oil output falls most in two years as Saudi Arabia makes cuts

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Turbulent or Steady? OPEC or Shale? — The State of Oil in 2019

Oil Pump

Jan 2, 2019, by Christopher Sell (Bloomberg) Oil had a tumultuous 2018, with prices rising to a four-year high in October before plunging more than $30 in the following months. Oversupply and demand worries are high on the concern list for the industry, making volatility a buzzword this year as well. There are other power … Read moreTurbulent or Steady? OPEC or Shale? — The State of Oil in 2019

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Oil prices decline on swelling oversupply, volatile markets

LONDON (Reuters) – Oil prices fell slightly on Thursday amid volatile currency and stock markets, coupled with concerns that an economic slowdown in 2019 will curb fuel demand just as crude supplies are surging. U.S. West Texas Intermediate crude oil futures CLc1 dropped 35 cents to $46.19 a barrel by 0900 GMT. International Brent crude … Read moreOil prices decline on swelling oversupply, volatile markets

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Venezuela Holds Lessons for American Socialists: Noah Smith

Jan 3, 2019, by Noah Smith (Bloomberg Opinion) It’s hard to overstate how disastrous the reign of Hugo Chavez and his successor Nicolas Maduro has been for Venezuela. A recent series of Bloomberg articles vividly depicts the hellish, never-ending struggle for survival in Caracas, the country’s capital. Hungry children roam the streets, people are fleeing the … Read moreVenezuela Holds Lessons for American Socialists: Noah Smith

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Pacific Ethanol plans to idle western section of Nebraska plant

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. REUTERS/Jim Young

PHILADELPHIA/CHICAGO (Reuters) – Pacific Ethanol Inc plans to idle the western portion of its ethanol plant in Aurora, Nebraska, over the next two weeks amid historically weak margins that have forced the industry to throttle back production, according to three sources familiar with the plant’s operations. The 110 million-gallon-a-year western section could remain shut until … Read morePacific Ethanol plans to idle western section of Nebraska plant

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U.S. Gulf Coast crudes surge on Texas stock draw, widening WTI-Brent spread

Pipeline Oil Storage

(Reuters) – U.S. Gulf Coast crude grades rose on Wednesday as the WTI-Brent spread widened and as a new report showed oil stockpiles in Texas shrank over the past week, traders said. The coastal grades strengthened as the spread between U.S. crude and global benchmark Brent widened to as much as $8.58 per barrel. A … Read moreU.S. Gulf Coast crudes surge on Texas stock draw, widening WTI-Brent spread

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Michigan AG to review pipeline deal at governor’s request

LANSING, Mich. — Michigan’s new governor and attorney general moved quickly Wednesday to review the legality of a contentious state deal to run an oil pipeline beneath a crucial section of the Great Lakes. Democratic Gov. Gretchen Whitmer announced her request for a legal opinion from Attorney General Dana Nessel, a Democrat who welcomed the … Read moreMichigan AG to review pipeline deal at governor’s request

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Global growth worries, higher oil flatten yield curve

Oil pipe

NEW YORK (Reuters) – Yields on long-dated U.S. Treasury securities fell to their lowest in nearly a year on Wednesday on concerns about the health of the global economy, a worry exacerbated late in the day when Apple Inc (AAPL.O) cut its sales outlook and sent U.S. equity index futures tumbling. Throughout the first trading … Read moreGlobal growth worries, higher oil flatten yield curve

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Registration is open for Global Petroleum Show 2019

Attend Global Petroleum Show, June 11 – 13, 2019, the most important energy expo & conference in North America held in Calgary, Canada, attracting more than 50,000 international and domestic oil and gas executives from over 21,000 companies. Officials from government, national and international energy companies across the entire supply chain convene at GPS to share innovative … Read moreRegistration is open for Global Petroleum Show 2019

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Halliburton President and CEO Jeff Miller Appointed as Chairman of the Board

HOUSTON–(BUSINESS WIRE)–Halliburton Company (NYSE:HAL) today announced its Board of Directors has appointed Jeff Miller, the Company’s president and CEO, as Chairman of the Board, effective Jan. 1, 2019. Consistent with the Company’s corporate governance guidelines, Executive Chairman Dave Lesar retired on Dec. 31, 2018. “I appreciate the confidence that the Board has placed in me,” … Read moreHalliburton President and CEO Jeff Miller Appointed as Chairman of the Board

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Oil falls to $53 on economic worries, surging supply

LONDON (Reuters) – Oil fell towards $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and due to concerns about an economic slowdown that could weaken demand. Russian production hit a post-Soviet record in 2018, figures showed on Wednesday. Other data showed U.S. output reached a record in … Read moreOil falls to $53 on economic worries, surging supply

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Five Things to Know in World Business Today

Jan 2, 2019, by Lorcan Roche Kelly (Bloomberg) New year, same old story Equity markets are starting 2019 as they ended 2018, with stocks under pressure across the globe. Overnight, the MSCI Asia Pacific Index dropped 0.9 percent as disappointing Chinese data soured investor sentiment in the region. Japanese markets were closed. In Europe, the Stoxx … Read moreFive Things to Know in World Business Today

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The Sharing Economy’s Next Frontier: Energy Sharing

January 2, 2019, by Sarah Potter (Renewable Energy World) The so-called sharing economy has given rise to new forms of business, such as AirBnB and Uber. Could the same sharing approach work in the utility business? A Missouri S&T researcher thinks it can, and she has developed a model for a peer-to-peer network through which … Read moreThe Sharing Economy’s Next Frontier: Energy Sharing

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OPEC+ Caps Prove No Barrier to Record Russian Oil Output in 2018

Saudi Energy Minister Khaled al-Falih and Russian Energy Minister Alexander Novak. Photo: AMER HILABI/AFP/Getty Images

Jan 1, 2019, by Jake Rudnitsky and Dina Khrennikova (Bloomberg) Russia’s oil production reached a post-Soviet high last year even as it coordinated supply with the Organization of Petroleum Exporting Countries. Output averaged 11.16 million barrels a day, up 1.6 percent from 2017, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That compares … Read moreOPEC+ Caps Prove No Barrier to Record Russian Oil Output in 2018

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Breakingviews predicts a year of High Anxiety

By George Hay LONDON (Reuters Breakingviews) – In Mel Brooks’ seminal 1977 Hitchcock parody “High Anxiety”, much of the action revolves around the Psycho-Neurotic Institute for the Very, Very Nervous. Investors may feel the need to book into a similar establishment in 2019. Too many huge decisions need to be called correctly to feel relaxed … Read moreBreakingviews predicts a year of High Anxiety

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GE’s CEO Turns the Page on a Horrible 2018: Brooke Sutherland

Dec 31, 2018, by Brooke Sutherland (Bloomberg Opinion) In the annals of General Electric Co.’s storied 126-year-history, 2018 will go down as a year almost everyone with ties to the company would like to forget. GE lost nearly $90 billion of its market value, its A-level credit rating, its place in the Dow Jones Industrial Average, and any pretensions it still … Read moreGE’s CEO Turns the Page on a Horrible 2018: Brooke Sutherland

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Department of Energy Releases Year in Review

The Department of Energy (DOE) is working to fulfill the President’s directive to maintain and build upon U.S. energy dominance, which will increase the country’s energy and national security, strengthen relationships with our allies around the world, foster innovation and open new and emerging markets. On behalf of the American people, DOE’s various Program Offices … Read moreDepartment of Energy Releases Year in Review

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Crunch Time for Trump’s `America First’ Policy as Deadlines Loom

Donald Trump

Jan 2, 2019, by Nick Wadhams (Bloomberg) Donald Trump ended 2018 dramatically by ordering U.S. troops out of Syria and accelerating his defense secretary’s resignation by two months. The first quarter of 2019 looks to be just as tumultuous. From China to Iran, Trump has set a host of deadlines for action that will help … Read moreCrunch Time for Trump’s `America First’ Policy as Deadlines Loom