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COLUMN-Saudi Arabia’s oil weapon doesn’t work: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chart: tmsnrt.rs/2IY8Daj By John Kemp LONDON, Oct 16 (Reuters) – Saudi Arabia is unlikely to employ its so-called “oil weapon” in the diplomatic crisis over the disappearance of a journalist after visiting the country’s consulate in Istanbul. Experience from the last time … Read moreCOLUMN-Saudi Arabia’s oil weapon doesn’t work: Kemp

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U.S. judge approves SEC settlement with Tesla, Musk; shares jump

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

(Reuters) – A U.S. judge on Tuesday approved a settlement between a federal regulator, Tesla Inc and its chief executive officer, Elon Musk, over his tweets promising to take the company private, signaling an end to a tumultuous period for investors. Tesla shares rose as much as 5.5 percent to $273.88 before easing to $271.63 … Read moreU.S. judge approves SEC settlement with Tesla, Musk; shares jump

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Throw These Oil and Gas Orthodoxies Into The Bin – Geoffrey Cann

Digital innovations are upending some of the most deeply held and long standing orthodoxies of our modern life. Many of the orthodoxies in oil and gas are ready to tumble.  ANCIENT HUMANS Imagine yourself 200,000 years ago, when life was more rugged and dangers were everywhere. Minding your own business, you’d come across some wild animal without warning. You relied on the primitive part of your brain, … Read moreThrow These Oil and Gas Orthodoxies Into The Bin – Geoffrey Cann

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Devon Energy Provides Operational Update for Jackfish Complex; Announces Third-Quarter Production and Capital Results

OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corp. (NYSE: DVN) today reported that additional facilities work at its Jackfish 1 heavy oil project in Alberta, Canada, is now complete and full-scale operations have been restored. The work at Jackfish 1 was related to minor facility repairs the company identified during recent turnaround startup activities. Devon elected to perform … Read moreDevon Energy Provides Operational Update for Jackfish Complex; Announces Third-Quarter Production and Capital Results

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Expanding ethanol sales would have limited U.S. market impact: analysts

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

CHICAGO (Reuters) – The Trump administration’s plan to allow year-round sales of higher-grade corn ethanol would have limited impact on the depressed U.S. ethanol market, with record supplies and prices for the fuel hovering near the lowest in a decade, analysts said. President Donald Trump announced the decision last week ahead of a campaign trip … Read moreExpanding ethanol sales would have limited U.S. market impact: analysts

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West Texas pipeline to resume on schedule after spill: company

(Reuters) – Energy Transfer Partners LP said on Monday that a West Texas pipeline would resume operations on Saturday as planned after the pipeline spilled water with nontoxic green dye and residual crude oil near Abilene, Texas. The spill, which began mid-day Sunday, went into Button Willow Creek and then into Canyon Rock Lake during … Read moreWest Texas pipeline to resume on schedule after spill: company

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Rising oil turns up heat on vulnerable emerging economies

LONDON (Reuters) – A rise in oil prices to four-year highs is heaping pressure on big emerging-market crude consumers such as Turkey, India, Indonesia and South Africa that are already grappling with current account deficits, weak currencies and rising inflation. Emerging markets worldwide have been buffeted in recent months by the strong dollar, climbing U.S. … Read moreRising oil turns up heat on vulnerable emerging economies

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OPEC urges producers to ramp up investment amid shrinking spare oil capacity

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

NEW DELHI (Reuters) – OPEC Secretary-General Mohammad Barkindo on Tuesday urged oil producing companies to increase capacities and invest more to meet future demand as spare oil capacity shrinks worldwide. Oil prices have rallied this year on expectations that U.S. sanctions on Iran will strain supplies by lowering shipments from OPEC’s third-largest oil producer. Brent … Read moreOPEC urges producers to ramp up investment amid shrinking spare oil capacity

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Column: Oil prices ease as funds continue profit-taking – Kemp

LONDON (Reuters) – Hedge fund managers have continued to take profits on their bullish positions in crude oil as the late summer rally has faded and fears about oil consumption and the state of the economy have replaced concerns over sanctions on Iran. Fund managers cut their combined net long position in the six most … Read moreColumn: Oil prices ease as funds continue profit-taking – Kemp

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Trump Says Climate Change No Hoax But Will `Change Back Again’

Oct 15, 2018, by Jennifer A. Dlouhy (Bloomberg) Donald Trump may not think climate change is a “hoax” anymore, but the president made clear he still doubts whether humans are driving the phenomenon and thinks the whole thing could reverse itself. Trump reiterated his doubts on climate change during an interview with “60 Minutes” on … Read moreTrump Says Climate Change No Hoax But Will `Change Back Again’

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Five Things to Know in World Business Today

Oct 16, 2018, by Lorcan Roche Kelly (Bloomberg) Saudi crisis U.S. Secretary of State Michael Pompeo arrived in Saudi Arabia this morning as the kingdom remains under pressure to explain the disappearance of writer Jamal Khashoggi after entering its embassy in Turkey. Media reports suggest that authorities in Riyadh are considering saying that the journalist died … Read moreFive Things to Know in World Business Today

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Oil, Debt and Iran: Weapons in Any U.S.-Saudi Row Over Khashoggi

Oct 15, 2018, by Lin Noueihed, Zainab Fattah, Anthony DiPaola and Mark Niquette (Bloomberg)  President Donald Trump threatened his most important Arab ally with “severe punishment” if it was shown to have killed a top regime critic. Saudi Arabia hit back with a not-so-veiled threat of its own to weaponize its vast oil exports. The … Read moreOil, Debt and Iran: Weapons in Any U.S.-Saudi Row Over Khashoggi

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The Dirt on Clean Electric Cars Is Just Under the Hood

Oct 15, 2018, by Niclas Rolander, Jesper Starn and Elisabeth Behrmann (Bloomberg) Beneath the hoods of millions of the clean electric cars rolling onto the world’s roads in the next few years will be a dirty battery. Every major carmaker has plans for electric vehicles to cut greenhouse gas emissions, yet their manufacturers are, by … Read moreThe Dirt on Clean Electric Cars Is Just Under the Hood

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WildHorse Resource Development Corporation Announces Borrowing Base Increase to $1.3 Billion and Third Quarter 2018 Conference Call

HOUSTON–(BUSINESS WIRE)–WildHorse Resource Development Corporation (NYSE: WRD) today announced that the borrowing base under its revolving credit facility was increased by its bank group to $1.3 billion from $1.05 billion following its regularly scheduled semi-annual redetermination. “Since the IPO, WRD has increased its borrowing base at every semi-annual redetermination and has tripled the total capacity … Read moreWildHorse Resource Development Corporation Announces Borrowing Base Increase to $1.3 Billion and Third Quarter 2018 Conference Call

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Trump Plan to Export Coal From Military Ports Draws Condemnation

Oct 16, 2018, by Jennifer A. Dlouhy (Bloomberg) Trump administration officials are mulling allowing coal exports from military bases and other federal properties along the U.S. West Coast, an idea that drew swift condemnation from political leaders in the region. “This reckless, harebrained proposal undermines national security instead of increasing it, and it undermines states’ … Read moreTrump Plan to Export Coal From Military Ports Draws Condemnation

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Report Debunking Trump’s Coal Plan Not Buried, Just Under Review

Imported coal is seen lifted by cranes from a coal cargo ship at a port in Lianyungang, Jiangsu province, China July 26, 2018. REUTERS/Stringer

Oct 15, 2018, by Jennifer A. Dlouhy (Bloomberg) The Trump administration is pushing back against assertions it buried a study that undermines its efforts to prop up coal and nuclear power plants. The analysis, which was initially ordered up by the Energy Department’s Office of Nuclear Energy last fall and completed earlier this year, is … Read moreReport Debunking Trump’s Coal Plan Not Buried, Just Under Review

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Teens’ Climate-Change Suit Against U.S. Proceeds Minus Trump

Oct 15, 2018, by Kartikay Mehrotra (Bloomberg) A group of teenagers who sued the U.S. government three years ago for doing little to combat climate change are headed toward a trial, but President Donald Trump is no longer a defendant. U.S. District Judge Ann Aiken in Eugene, Oregon, on Monday rejected government requests to throw … Read moreTeens’ Climate-Change Suit Against U.S. Proceeds Minus Trump

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Iran says Trump cannot bring oil prices down by ‘bullying’

LONDON (Reuters) – U.S. President Donald Trump cannot bring oil prices down by “bullying” other nations, Iran’s oil minister said on Tuesday, adding that the market was suffering from short supply. U.S. sanctions on Iranian oil exports are due to kick in on Nov. 4. The U.S. administration has been pushing its allies to cut … Read moreIran says Trump cannot bring oil prices down by ‘bullying’

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Cold Bore Technology Inc. Announces Financing by Rice Investment Group and New Director Appointment

October 15, 2018 Calgary, Alberta October 15, 2018 – Cold Bore Technology Inc. (“Cold Bore” or the “Company”) is pleased to announce the closing of an investment by Rice Investment Group (“RIG”) as well as the appointment of Toby Rice to the Board of Directors. Cold Bore is a global leader in fracturing optimization software, developing … Read moreCold Bore Technology Inc. Announces Financing by Rice Investment Group and New Director Appointment

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EIA’s Drilling Productivity Report (DPR) for October has now been released.

  Drilling Productivity Report EIA’s Drilling Productivity Report (DPR) for October has now been released.  The DPR takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place.  It uses recent data on the total number of drilling rigs in operation along with estimates … Read moreEIA’s Drilling Productivity Report (DPR) for October has now been released.

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Infrastructure and Energy Alternatives, Inc. to Acquire William Charles Construction Group, Including Ragnar Benson, in Transformative Acquisition

INDIANAPOLIS, Oct. 15, 2018 (GLOBE NEWSWIRE) — Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading provider of infrastructure solutions for the renewable energy, traditional power and civil infrastructure industries announced today that it has signed a definitive agreement to acquire William Charles Construction Group, including Ragnar Benson (“William Charles”), a … Read moreInfrastructure and Energy Alternatives, Inc. to Acquire William Charles Construction Group, Including Ragnar Benson, in Transformative Acquisition

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Nine Energy Service, Inc. Announces Offering of $400 Million of New Senior Notes

HOUSTON–(BUSINESS WIRE)–Nine Energy Service, Inc. (“Nine” or the “Company”) (NYSE: NINE) announced today that, subject to market conditions, it intends to offer $400 million in aggregate principal amount of senior unsecured notes due 2023 (the “Notes”) in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, … Read moreNine Energy Service, Inc. Announces Offering of $400 Million of New Senior Notes

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Is It Possible? A Future Where People and Nature Thrive

Empty beach chairs rest on the sand as oil washes ashore in Alabama, U.S. Photographer: Kari Goodnough/Bloomberg

ARLINGTON, Va.–(BUSINESS WIRE)–Can we drive economic growth, meet rising demand for food, energy and water, and make significant environmental progress? The short answer is “yes,” but it comes with several big “ifs.” New research shows that we can put the world on a path to sustainability if we make significant changes within the next 10 … Read moreIs It Possible? A Future Where People and Nature Thrive

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Five Things to Know in World Business Today

Oct 15, 2018, by Lorcan Roche Kelly (Bloomberg) Down  Hopes Friday’s bounce in U.S. equities would lead to a positive start to the trading week were dashed in the Asia session. Overnight, the MSCI Asia Pacific Index dropped 1.1 percent with China’s Shanghai Composite Index closing at the weakest level since November 2014. In Europe, the Stoxx … Read moreFive Things to Know in World Business Today

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Germans to pay slightly lower levy for renewable energy in 2019

FRANKFURT (Reuters) – Germany will cut a green energy surcharge on consumers’ electricity bills by 5.7 percent next year, but savings for households will be limited as other fees are expected to rise. Germans pay the highest electricity bills in Europe as state-induced taxes and fees account for over 50 percent of power bills. German … Read moreGermans to pay slightly lower levy for renewable energy in 2019

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Oil Rises as Saudi Arabia Vows to Hit Back Against Any Sanctions

Oil Prices Up

Oct 15, 2018, by Grant Smith (Bloomberg) Oil rose as traders assessed a threat by Saudi Arabia, the world’s biggest crude exporter, to retaliate against any punishment over the disappearance of a government critic. Futures climbed as much as 1.9 percent in New York as the market viewed the Saudi Foreign Ministry statement as a … Read moreOil Rises as Saudi Arabia Vows to Hit Back Against Any Sanctions

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CEA Report: Coloradans Saved Nearly $12.4 Billion Over 10 Years Thanks to Lower Natural Gas Prices

DENVER–(BUSINESS WIRE)–The state with the Mile High City is also experiencing mile high savings – in energy costs – a new report by Consumer Energy Alliance (CEA) reveals. Thanks to record energy production and safer, state-of-the-art technologies, which has significantly reduced the price of natural gas, Colorado households and businesses saved nearly $12.4 billion between … Read moreCEA Report: Coloradans Saved Nearly $12.4 Billion Over 10 Years Thanks to Lower Natural Gas Prices

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Britain asks experts to advise on net zero emissions climate target

LONDON (Reuters) – Britain has asked its climate change experts to advise on whether it should set a date to meet a net zero emissions target, the government said on Monday. Britain has a target to cut its greenhouse gas emissions by 80 percent compared with 1990 levels by 2050, but campaigners have warned this … Read moreBritain asks experts to advise on net zero emissions climate target

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Saudi Arabia Breaks 45-Year Taboo With Veiled Oil Weapon Threat

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

Oct 15, 2018, by Javier Blas (Bloomberg) For 45 years, it’s been considered out of bounds for Saudi Arabia. But all of a sudden, Riyadh made what many read as a veiled threat to use the kingdom’s oil wealth as a political weapon — something unheard of since the 1973 Arab embargo that triggered the … Read moreSaudi Arabia Breaks 45-Year Taboo With Veiled Oil Weapon Threat

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Climate-Change Battle Will Be Won or Lost in China: Noah Smith

Oct 14, 2018, by Noah Smith (Bloomberg Opinion) Climate change is a menace. The Intergovernmental Panel on Climate Change just issued a report showing how serious the situation is. If warming continues on its current trajectory, the report warns, then by the end of this century average temperatures will be 4 degrees Celsius (7.2 degrees … Read moreClimate-Change Battle Will Be Won or Lost in China: Noah Smith

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Fragile Pipelines Pose an Increasing Risk in Gas-Hungry U.S.

Oct 13, 2018, by Naureen S. Malik (Bloomberg) The kind of dramatic scenes that played out in suburban Massachusetts last month following a series of explosions and fires may serve as a warning of what lies ahead for the U.S., where an increasing reliance on natural gas is running up against aging infrastructure. While there’s … Read moreFragile Pipelines Pose an Increasing Risk in Gas-Hungry U.S.

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U.S. Gulf of Mexico oil and gas output increasing after hurricane

NEW YORK (Reuters) – U.S. Gulf of Mexico oil and gas production is returning to near normal levels following Hurricane Michael, data from an offshore regulator showed on Sunday, with oil output off 15.8 percent and natural gas production down less than 10 percent. The Bureau of Safety and Environmental Enforcement (BSEE) also said in … Read moreU.S. Gulf of Mexico oil and gas output increasing after hurricane

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The Electric-Vehicle Future Will Run on Two Wheels: Adam Minter

Oct 13, 2018, by Adam Minter (Bloomberg Opinion) Given recent market turmoil, it would easy to overlook the upcoming IPO of Niu Technologies, a Chinese manufacturer of electric mopeds. The $95 million the company plans to raise is a pittance compared to the billions burnt by Tesla Inc. But, the technologies developed by Niu and … Read moreThe Electric-Vehicle Future Will Run on Two Wheels: Adam Minter

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Commentary: Oil Demand Is Cooling. Don’t Expect Prices to Follow: Julian Lee

 Oct 14, 2018 by Julian Lee (Bloomberg Opinion) – The world’s two big intergovernmental energy groups have updated their outlooks for the oil market to the end of next year – and they don’t make comfortable reading. High prices, trade wars and weakening currencies are taking their toll on demand growth. That doesn’t necessarily mean that … Read moreCommentary: Oil Demand Is Cooling. Don’t Expect Prices to Follow: Julian Lee

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

October 12, 2018 Reuters The U.S. oil drilling rig count rose this week for the first time in four weeks even as crude prices tumbled to their lowest in almost three weeks.Drillers added eight oil rigs in the week to Oct. 12, bringing the total count to 869, General Electric Co’s Baker Hughes energy services firm … Read moreU.S. drillers add oil rigs for first week in four

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Oil Declines in Biggest Weekly Loss Since May on Equities Rout

Oct 12, 2018 by Samuel Robinson (Bloomberg)  Oil posted its biggest weekly loss since May as turmoil in equity trading spilled over into the crude market. Futures dropped 4 percent this week in New York, echoing declines in the S&P 500 Index amid fresh concern about the escalating U.S.-China trade war. Oil stockpiles in the … Read moreOil Declines in Biggest Weekly Loss Since May on Equities Rout

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Bonanza Creek Energy Announces the Date of its Third Quarter 2018 Earnings Release and Conference Call

DENVER, Oct. 11, 2018 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) announces that it is scheduled to release its third quarter 2018 operating and financial results after market close on November 8, 2018 and will host a conference call to discuss these results on November 9, 2018 at 9:00 a.m. Mountain Time (11:00 … Read moreBonanza Creek Energy Announces the Date of its Third Quarter 2018 Earnings Release and Conference Call

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Cheniere Announces Timing of Third Quarter 2018 Earnings Release and Conference Call

HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that it plans to issue its earnings release with respect to third quarter 2018 financial results on Thursday, November 8, 2018 before the market opens. Cheniere will host a conference call for investors and analysts at 10:00 a.m. Eastern Time (9:00 a.m. … Read moreCheniere Announces Timing of Third Quarter 2018 Earnings Release and Conference Call

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EQT Corporation Announces Third Quarter 2018 Earnings Conference Call

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) will host a teleconference with security analysts on October 25, 2018, beginning at 10:30 a.m. ET. Topics of the teleconference will include financial and operational results, and other matters, with respect to the third quarter 2018. A brief Q&A session for security analysts will immediately follow the results discussion. The … Read moreEQT Corporation Announces Third Quarter 2018 Earnings Conference Call

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100 Million Barrels: The World Hit a Daily Oil & Liquids Record

Red Oil Barrels

Oct 12, 2018, by Dan Murtaugh (Bloomberg) The world is pumping out more oil and other petroleum liquids than ever before. Global supply rose to 100.3 million barrels a day in the third quarter, the International Energy Agency said Friday in its monthly oil market report. Output, which includes crude oil, natural gas liquids, biofuels … Read more100 Million Barrels: The World Hit a Daily Oil & Liquids Record

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IEA Cuts Oil Demand Forecasts But Sees Prices Staying High

Oct 12, 2018, by Grant Smith (Bloomberg) The International Energy Agency cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high. Reduced growth estimates from the International Monetary Fund, trade disputes and the strain of high oil … Read moreIEA Cuts Oil Demand Forecasts But Sees Prices Staying High

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Five Things to Know in World Business Today

Oct 12, 2018, by Lorcan Roche Kelly (Bloomberg) Pause The market rout that saw the S&P 500 Index enter its longest slide since 2016 and gauges in Asia and Europe plunge so far isn’t extending into a third day. Overnight, markets in Asia were boosted by robust China export figures with the MSCI Asia Pacific Index climbing … Read moreFive Things to Know in World Business Today

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$85 Oil Opens Chasm Between Emerging Markets’ Winners and Losers

Oct 12, 2018, by Michelle Jamrisko, Alexandra Stratton and Paul Wallace (Bloomberg) Oil prices have been creeping upwards for more than a year, quietly gaining ground as emerging-market investors fretted about trade and the end of cheap money. But now that crude is near the highest in four years, it’s suddenly a hot topic. For … Read more$85 Oil Opens Chasm Between Emerging Markets’ Winners and Losers

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Regulator ties pipeline work to deadly Massachusetts gas explosion

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

HOUSTON (Reuters) – A NiSource Inc affiliate’s construction work led to overpressured natural-gas distribution lines tied to explosions in Massachusetts that killed one person and injured 21, the National Transportation Safety Board said in a preliminary report released on Thursday. Crews were working for Columbia Gas of Massachusetts on a pipe-replacement project in Lawrence, a … Read moreRegulator ties pipeline work to deadly Massachusetts gas explosion

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Trump trade war delivers farm boom in Brazil, gloom in Iowa

LUÍS EDUARDO, Brazil/BOONE, Iowa (Reuters) – The Bella Vita luxury condominium tower rises 20 stories over the boomtown of Luís Eduardo Magalhães in northeastern Brazil. Its private movie theater and helipad are symbols of how far this dusty farming community has come since it was founded just 18 years ago. Local soybean producers shell out … Read moreTrump trade war delivers farm boom in Brazil, gloom in Iowa

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New York Has $40 Million for New Solar+Storage Projects

Solar panel

Oct. 11, 2018, by Renewable Energy World Editors New York’s Governor Andrew M. Cuomo has ambitious goals for renewable energy and energy storage. In his state of the state address this year, he announced the he wanted 1.5 GW of energy storage on the grid by 2025 and in June NYSERDA and the Department of Public Service, … Read moreNew York Has $40 Million for New Solar+Storage Projects

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Kickstarting the Energy Revolution: How Crowdfunding is Pushing the Renewable Energy Transition

by Matt Chester (Renewable Energy World) When innovators come up with the idea for the next great technological breakthrough, the first roadblocks to seeing that idea to fruition are typically funding. Among renewable energy inventions, this need is typically filled through wealthy private investors, venture capital firms, or government grants. But today, in the age … Read moreKickstarting the Energy Revolution: How Crowdfunding is Pushing the Renewable Energy Transition

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U.S. crude stocks rise as refining slows, gasoline builds unexpectedly: EIA

(Reuters) – U.S. crude oil stockpiles rose last week for the third consecutive weekly build as refineries continued to reduce output for seasonal maintenance, while gasoline inventories grew unexpectedly, the Energy Information Administration said on Thursday. Crude inventories rose 6 million barrels in the week to Oct. 5, compared with analysts’ expectations for an increase … Read moreU.S. crude stocks rise as refining slows, gasoline builds unexpectedly: EIA

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TransCanada puts part of West Virginia Mountaineer natgas pipe into service

(Reuters) – Canadian energy company TransCanada Corp told U.S. energy regulators on Thursday that the company’s Columbia Gas Transmission unit put part of its $3 billion Mountaineer XPress natural gas pipeline into service in West Virginia. Mountaineer is one of several pipelines designed to connect growing output in the Marcellus and Utica shale basins in … Read moreTransCanada puts part of West Virginia Mountaineer natgas pipe into service

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U.S. OKs startup of part of Enbridge Ohio-Michigan NEXUS natgas pipe

(Reuters) – U.S. energy regulators approved Canadian energy company Enbridge Inc’s (ENB.TO) request to put part of its $2.6 billion NEXUS natural gas pipeline from Ohio to Michigan into service. NEXUS is one of several gas pipelines designed to connect growing output in the Marcellus and Utica shale basins in Pennsylvania, West Virginia and Ohio … Read moreU.S. OKs startup of part of Enbridge Ohio-Michigan NEXUS natgas pipe

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U.S. oil firms restore operations in storm-tossed Gulf of Mexico

HOUSTON (Reuters) – Major oil producers and drillers, including Exxon Mobil Corp (XOM.N) Chevron Corp (CVX.N) and BP Plc (BP.L), on Thursday began returning workers and restoring output at U.S. Gulf of Mexico facilities shut as Hurricane Michael blew through. The U.S. offshore safety regulator’s daily update showed that 40 percent of Gulf oil output … Read moreU.S. oil firms restore operations in storm-tossed Gulf of Mexico

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$20 Oil? Welcome to Canada, Where Crude Prices Haven’t Recovered

Oct 11, 2018, by Kevin Orland (Bloomberg) Western Canada Select slumped below $20 a barrel on Thursday, the lowest in more than two years, continuing a brutal streak of declines for the country’s main grade of crude. The drop has come as rising production from Canada’s oil-sands overwhelms the nation’s pipeline capacity, and as refinery … Read more$20 Oil? Welcome to Canada, Where Crude Prices Haven’t Recovered

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U.S. oil CEO says corporations should work to stem climate change

HOUSTON (Reuters) – Corporations around the world should work together to reduce carbon emissions and stem climate change rather than wait for government mandates, the chief executive of U.S. oil producer Occidental Petroleum Corp said on Wednesday. Pressure is rising on companies, especially in the energy sector, to slash their greenhouse gas emissions in order … Read moreU.S. oil CEO says corporations should work to stem climate change

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Big Oil still reluctant to open spending taps: Goldman

Big Oil

LONDON (Reuters) – Energy companies and investors are focused on profits and reluctant to boost spending even after crude prices surged to four-year highs, a senior Goldman Sachs banker said on Thursday. Rattled by the recent downturn in the sector and long-term concerns over oil demand and the switch to renewables, Big Oil is facing … Read moreBig Oil still reluctant to open spending taps: Goldman

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OPEC Secretary-General questions ‘misguided’ renewables debate after climate report

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

LONDON (Reuters) – OPEC’s Secretary-General on Thursday criticized a report calling for radical action to fight climate change, saying the idea that renewable energy was the world’s only future was misguided and that a “bombardment” of green advocacy could be harmful. A U.N. panel this week called for unprecedented changes in how the world consumes … Read moreOPEC Secretary-General questions ‘misguided’ renewables debate after climate report

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SEC, Tesla support approval of settlement

(Reuters) – The U.S. Securities and Exchange Commission, Tesla Inc (TSLA.O) and Chief Executive Officer Elon Musk submitted a joint filing late on Wednesday in support of a settlement, saying the terms were in the best interest of investors. “We therefore respectfully submit that the court should accept and enter the proposed consent judgments,” they … Read moreSEC, Tesla support approval of settlement

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OPEC cuts forecast for global oil demand growth in 2019

LONDON (Reuters) – OPEC cut its forecast of global demand growth for oil next year for a third straight month on Thursday, citing headwinds facing the broader economy, and key consuming countries in particular, from trade disputes and volatile emerging markets. In its monthly report, the Organization of the Petroleum Exporting Countries said world oil … Read moreOPEC cuts forecast for global oil demand growth in 2019

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Resolute Energy Corporation Provides Preliminary Third Quarter Production Results and Operations Update

DENVER, Oct. 11, 2018 (GLOBE NEWSWIRE) — Resolute Energy Corporation (“Resolute” or the “Company”) (NYSE: REN) today provided preliminary third quarter 2018 production results and an operations update. Aggregate third quarter 2018 production averaged approximately 34,750 barrel of oil equivalent (“Boe”) per day, an increase of 45 percent from the second quarter.  Third quarter 2018 oil … Read moreResolute Energy Corporation Provides Preliminary Third Quarter Production Results and Operations Update

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

HOUSTON, Oct. 11, 2018 (GLOBE NEWSWIRE) — Energy XXI Gulf Coast, Inc. (“EGC” or the “Company”) (NASDAQ: EGC) today provided an update regarding the closing of the merger with affiliates of Cox Oil LLC (“Cox”). EGC previously announced on September 10, 2018 that, on September 9, 2018, EGC and Cox jointly agreed to enter into Amendment No. 1 to … Read moreEnergy XXI Gulf Coast Provides Update on Merger With Affiliates of Cox Oil LLC

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Clean Energy and BP to Expand Renewable Natural Gas Supply Agreement

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–BP p.l.c. (NYSE: BP) and Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced an agreement which will secure an increased supply of renewable natural gas (RNG) for Clean Energy through Clean Energy’s extensive fueling infrastructure as more fleets are requesting the clean fuel. The agreement enables BP to flow larger volumes to … Read moreClean Energy and BP to Expand Renewable Natural Gas Supply Agreement

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Murphy Oil Announces Strategic Deep Water Gulf of Mexico Joint Venture with Petrobras

EL DORADO, Ark.–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE: MUR) announced today that its wholly owned subsidiary, Murphy Exploration & Production Company – USA, has entered into a definitive agreement to form a new joint venture company with Petrobras America Inc. (“PAI”), a subsidiary of Petrobras (NYSE: PBR). The joint venture company will be comprised of Gulf … Read moreMurphy Oil Announces Strategic Deep Water Gulf of Mexico Joint Venture with Petrobras

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Fluor Announces Preliminary Third Quarter 2018 Results

IRVING, Texas–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) today announced preliminary results for its third quarter ended September 30, 2018. Pre-tax earnings attributable to Fluor are anticipated to be approximately $125 million. Preliminary results include expected pre-tax charges of $46 million relating to close out efforts on a downstream project in Europe and $35 million for forecast … Read moreFluor Announces Preliminary Third Quarter 2018 Results

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Oil Set for Worst 2-Day Drop Since July as Stock Turmoil Spreads

Red Oil Barrels

Oct 11, 2018, by Heesu Lee and Rakteem Katakey (Bloomberg) Oil headed for the biggest two-day drop since July as fears over a worsening trade war rattled global markets. Futures dropped as much as 2.1 percent in New York, extending Wednesday’s 2.4 percent slide. As the U.S.-China trade tensions escalate, investors are shunning risk assets … Read moreOil Set for Worst 2-Day Drop Since July as Stock Turmoil Spreads

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Five Things to Know in World Business Today

Oct 11, 2018, by Lorcan Roche Kelly (Bloomberg) Stock rout A selloff that sent U.S. stocks tumbling the most since February on Wednesday rolled across the globe. Overnight, the MSCI Asia Pacific Index dropped 3.4 percent, while China’s benchmark Shanghai Composite Index crashed 5.2 percent with more than 1,000 stocks falling by their daily limit. All but one stock … Read moreFive Things to Know in World Business Today

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Shell sees Nigeria corruption trial lasting many months: memo

LONDON (Reuters) – Royal Dutch Shell expects a landmark corruption trial over a Nigerian oil deal to last many months, warning staff of continued critical media coverage in the $1.3 billion case, according to an internal memo seen by Reuters. Shell’s Legal Director Donny Ching encouraged employees to study an internal web page that the … Read moreShell sees Nigeria corruption trial lasting many months: memo

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Maui Electric Adds Cheap Solar to its Grid

Solar Panel

Oct. 10, 2018, by Jennifer Runyon (Renewable Energy World) Maui Electric Company said it turned on its second large-scale solar project on Tuesday, October 5. The 2.87-MW project spans 10.85 acres and was built in partnership with Kenyon Energy, the developer, and M+W Energy, which served as EPC for the project. Maui Electric said it … Read moreMaui Electric Adds Cheap Solar to its Grid

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Canada’s Enbridge to resume operations in 30-inch gas line in British Columbia

By Julie Gordon VANCOUVER, Oct 10 (Reuters) – Canada’s Enbridge Inc said on Wednesday it had approval to restart operations on a 30-inch natural gas pipeline in northern British Columbia, after a fire in an adjacent line led to disruptions for refineries in the U.S. state of Washington. The company isolated and depressurized a 36-inch … Read moreCanada’s Enbridge to resume operations in 30-inch gas line in British Columbia

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T.A. Cook
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U.S. heating costs likely to be higher this winter than last: EIA

(Reuters) – Most U.S. households should expect higher heating costs this winter (October through March) compared with last winter, according to the federal government’s Winter Fuels Outlook, which will be released in full at 11:00 a.m. (1500 GMT) on Wednesday. The U.S. Energy Information Administration (EIA) said in a summary of the report that the … Read moreU.S. heating costs likely to be higher this winter than last: EIA

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Duke Energy Plans To Invest At Least Half a Billion in Energy Storage in the Carolinas

Tesla Batteries

Oct. 10, 2018, by Jennifer Runyon (Renewable Energy World) This week Duke Energy said that it plans to deploy about $500 million of battery storage capacity over the next 15 years, which it estimates to be equivalent to about 300 MW of capacity. (MWh of capacity was not specified.) The storage capacity investment is written … Read moreDuke Energy Plans To Invest At Least Half a Billion in Energy Storage in the Carolinas

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Donald Trump Is Rerouting the World’s Oil Tankers

Oct 11, 2018, by Alex Longley and Bill Lehane (Bloomberg) U.S. President Donald Trump is redirecting global oil flows. West African and Latin American producers are sending ever-growing volumes of crude to China. America’s exports to the Asian country have slumped in favor of its neighbors. There’s an urgent global need to find replacement barrels … Read moreDonald Trump Is Rerouting the World’s Oil Tankers

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U.S. oil output to grow faster than expected to record in 2018: EIA

NEW YORK (Reuters) – U.S. crude oil output in 2018 is expected to grow more quickly than previously forecast to a record high, according to a monthly U.S. government forecast on Wednesday. Crude production was expected to rise 1.39 million barrels per day to 10.74 million bpd this year, the U.S. Energy Information Administration said … Read moreU.S. oil output to grow faster than expected to record in 2018: EIA

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U.S. Department of Energy To Bring $40B Cash to POWER-GEN International

Energy Industry

Oct. 10, 2018, by Jennifer Runyon (Renewable Energy World) After wallowing in limbo for the first part of 2018 awaiting re-authorization, the Loan Program Office (LPO) at the Department of Energy is back in business with about $40 billion burning a hole in its proverbial pocket. Mike Reed, Director and Chief Engineer of the Technical … Read moreU.S. Department of Energy To Bring $40B Cash to POWER-GEN International

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T.A. Cook
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Hurricane knocks out 42 percent of U.S. Gulf of Mexico oil output

HOUSTON (Reuters) – Hurricane Michael on Wednesday cut 42 percent of U.S. Gulf of Mexico daily crude oil production and nearly a third of natural gas output, the largest reductions in a year, after companies evacuated staff and shut-in platforms as a precaution. Michael slammed into the Florida Panhandle on Wednesday as a fast-moving, Category … Read moreHurricane knocks out 42 percent of U.S. Gulf of Mexico oil output

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IPAA: Texas Alliance of Energy Producers and Independent Petroleum Association of America Announce Joint Programs

FOR IMMEDIATE RELEASE Wednesday, October 10, 2018 Press Release Texas Alliance of Energy Producers and Independent Petroleum Association of America Announce Joint Programs WASHINGTON, D.C. – The Texas Alliance of Energy Producers (Alliance) and the Independent Petroleum Association of America (IPAA) are pleased to announce their joint effort on two new projects for the benefit of … Read moreIPAA: Texas Alliance of Energy Producers and Independent Petroleum Association of America Announce Joint Programs

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Saudi Arabia to supply extra oil cargoes to India in November as Iran sanctions loom

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

SINGAPORE/NEW DELHI (Reuters) – Saudi Arabia, the world’s biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. The extra cargoes indicate a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions … Read moreSaudi Arabia to supply extra oil cargoes to India in November as Iran sanctions loom

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Chevron becomes first oil major to exit Norway

OSLO (Reuters) – U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter. Oil majors, including Exxon Mobil, BP and Shell, have scaled down their presence in Norway by selling or merging … Read moreChevron becomes first oil major to exit Norway

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BP CEO: Rusal-like sanctions on Rosneft would shut Europe energy system

LONDON (Reuters) – BP Chief Executive Bob Dudley said if the United States imposed sanctions on Russian energy firms Gazprom and Rosneft such as it did on aluminum producer Rusal, it would virtually shut down Europe’s energy systems. BP is the second-biggest shareholder in Rosneft at 19.75 percent. Speaking on Wednesday at an Oil and … Read moreBP CEO: Rusal-like sanctions on Rosneft would shut Europe energy system

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Chinese finance ministry official says ‘optimistic’ on trade war breakthrough

NUSA DUA, Indonesia (Reuters) – A Chinese finance ministry official said on Wednesday he felt “a little bit more optimistic” on the prospect of breaking an impasse in trade negotiations with Washington, saying both sides are too economically integrated to tolerate a fallout. An escalating tariff war between the world’s two largest economies has set … Read moreChinese finance ministry official says ‘optimistic’ on trade war breakthrough

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Ormat Technologies, Inc. to Host Conference Call Announcing Third Quarter 2018 Financial Results

RENO, Nev., Oct. 10, 2018 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE: ORA) announced today that it plans to announce its third quarter 2018 financial results in a press release that will be issued on Tuesday, November 6, 2018, before the market opens. The Company has scheduled a conference call to discuss the results at … Read moreOrmat Technologies, Inc. to Host Conference Call Announcing Third Quarter 2018 Financial Results

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Gardner Denver
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NRG Energy, Inc. Completes Redemption of Its Outstanding 6.25% Senior Notes due 2022

PRINCETON, N.J.–(BUSINESS WIRE)–NRG Energy, Inc. (NYSE:NRG) announced that on October 9, 2018, as part of its deleveraging plan, it completed the redemption of all of its outstanding 6.25% Senior Notes due 2022 (the “2022 Notes”) in the aggregate principal amount of $485,171,000.00. The redemption price for the redeemed 2022 Notes was an amount equal to … Read moreNRG Energy, Inc. Completes Redemption of Its Outstanding 6.25% Senior Notes due 2022

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Kosmos Energy Announces Results of Pontoenoe-1 Well and Provides Operational and Financial Update

DALLAS–(BUSINESS WIRE)–Kosmos Energy (NYSE: KOS)(LSE: KOS) announced today that it has completed drilling the Pontoenoe-1 exploration well in Block 42 offshore Suriname. Pontoenoe-1 was designed to test late Cretaceous reservoirs in a stratigraphic trap charged from oil mature Albian and Cenomanian-Turonian source kitchens. The well was located offshore Suriname approximately 280 kilometers northwest of Paramaribo … Read moreKosmos Energy Announces Results of Pontoenoe-1 Well and Provides Operational and Financial Update

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Pipeline ruptures, sparks massive fire north of Prince George, B.C.

PRINCE GEORGE, B.C. — About 100 members of a First Nation community in northern British Columbia were evacuated from their homes Tuesday evening after a gas pipeline ruptured, sparking a massive blaze. The rupture happened on a natural gas transmission pipeline owned and operated by Enbridge about 13.5 kilometres from Prince George on Tuesday evening, Enbridge spokesman … Read morePipeline ruptures, sparks massive fire north of Prince George, B.C.

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The Battery Boom Created a New Lithium Superpower in China

Oct 9, 2018, by David Stringer and Martin Ritchie (Bloomberg) With a ruined 13th Century castle, the Irish town of Carlow is an unlikely staging post in the super-charged rise of a key player in China’s push to dominate the global electric-vehicle revolution. Ganfeng Lithium Co. sent a team to the town — a 90-minute … Read moreThe Battery Boom Created a New Lithium Superpower in China

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Relax, Elon. China’s NIO Is No Tesla Killer: Anjani Trivedi

Oct 9, 2018, by Anjani Trivedi (Bloomberg Opinion) Nothing seems to faze Elon Musk. And neither should the fact that Tesla Inc.’s biggest investor is backing a self-proclaimed rival in China. Baillie Gifford & Co. has taken an 11 percent stake in electric-car company NIO Inc., the fund manager disclosed Tuesday. NIO’s U.S.-traded stock surged as much as … Read moreRelax, Elon. China’s NIO Is No Tesla Killer: Anjani Trivedi

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Five Things to Know in World Business Today

Oct 10, 2018, by Lorcan Roche Kelly (Bloomberg) Category 4 Hurricane Michael strengthened to a “dangerous” Category 4 storm ahead of making landfall later today near Panama City, Florida. The fast-moving weather system has already cut oil production by 40 percent and natural gas output by 28 percent in the Gulf of Mexico. Wall Street will … Read moreFive Things to Know in World Business Today

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Duke Energy Braces for Second Hurricane Hit as Michael Nears Florida

Florida Beach

Oct 10, 2018, by Jim Efstathiou Jr. (Bloomberg) Utilities are warning that lights in the Carolinas may go out for the second time in a month, thanks to Hurricane Michael. Duke Energy Corp. said Michael may trigger outages lasting for “several days,” according to a statement Tuesday. The Charlotte, North Carolina-based company issued a similar … Read moreDuke Energy Braces for Second Hurricane Hit as Michael Nears Florida

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Trump raises ethanol use in gasoline, appeases farmers ahead of elections

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/NEW YORK (Reuters) – U.S. President Donald Trump launched an effort on Tuesday to increase ethanol use in the nation’s gasoline pool, delivering a long-sought political victory to the country’s Farm Belt and angering oil refiners ahead of November’s congressional elections. Trump announced the lifting of a ban on summer sales of gasoline blended with … Read moreTrump raises ethanol use in gasoline, appeases farmers ahead of elections

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How High Does Carbon Need to Be? Somewhere From $20-$27,000

Oct 10, 2018, by Mathew Carr (Bloomberg) The idea that carbon markets can help rein in greenhouse gas emissions got fresh momentum this week from a panel of scientists convened by the United Nations. But whether the idea gains more political currency this time depends on the price that policymakers set for emitting Earth-warming carbon … Read moreHow High Does Carbon Need to Be? Somewhere From $20-$27,000

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Trump Still Doesn’t Like the Price of Oil, Even as it Falls

Oct 9, 2018, by Tina Davis (Bloomberg) This time it wasn’t a tweet. President Donald J. Trump is again saying oil prices are too high, even after West Texas Intermediate crude dropped from a four-year high last week. “I want more energy, because I don’t like $74,” Trump told reporters on the White House lawn … Read moreTrump Still Doesn’t Like the Price of Oil, Even as it Falls

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Top Oil Traders Say Iran Sanctions Hitting Harder Than Expected

Oct 10, 2018, by Javier Blas, Grant Smith and Annmarie Hordern (Bloomberg) Sanctions on Iranian oil exports are hitting much harder than most people predicted as the Trump administration takes a tough line on enforcement, said executives from the world’s largest energy traders. Perhaps 2 million barrels a day of Iranian crude could eventually be … Read moreTop Oil Traders Say Iran Sanctions Hitting Harder Than Expected

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Big Oil Could Reap Windfall on Fossil Fuel Limits, Goldman Says

Oct 9, 2018, by Alex Nussbaum (Bloomberg) Cracking down on fossil fuels could actually boost profits for the world’s biggest oil companies, though the industry must shift toward cleaner fuels or be left behind by investors, according to Goldman Sachs Group Inc. Major producers including Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc … Read moreBig Oil Could Reap Windfall on Fossil Fuel Limits, Goldman Says

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SHOWCASING YOUR COMPANY WHERE THE AUDIENCE IS…ONLINE! Featuring Emerging Technologies and Solutions

The Energy Connect Virtual Conference and Expo will kick off its digital conference May 21st and 22nd 2019.  Early bird booking rates are currently open for a limited time! The Energy Connect Conference & Expo​ is a two-day virtual conference & trade show dedicated to connecting businesses & energy professionals in the oil and gas … Read moreSHOWCASING YOUR COMPANY WHERE THE AUDIENCE IS…ONLINE! Featuring Emerging Technologies and Solutions

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Setting Business Goals for Digital Oil and Gas – Geoffrey Cann

Geoffrey Cann

Boards in oil and gas must now take into account the wave of digital change that is impacting the sector, and help shape appropriate goals for management. ABOUT Geoffrey Cann is a former senior partner of one of the big 4 consulting firms. He has a deep passion for the impacts that digital technology and innovation are having on oil and … Read moreSetting Business Goals for Digital Oil and Gas – Geoffrey Cann

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Natural gas here to stay beyond energy transition, Big Oil says

By Ron Bousso and Shadia LONDON (Reuters) – Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy. Top oil companies including Royal Dutch Shell (RDSa.AS), BP (BP.L) and Total (TOTF.PA) are adapting with growing urgency … Read moreNatural gas here to stay beyond energy transition, Big Oil says

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Gardner Denver
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Commentary: Brent falls as fund managers take profits after rally

Pump Jack

By John Kemp LONDON (Reuters) – Hedge fund managers started to take some profits after the strong rally in crude oil prices, even before details emerged last week of output increases from Saudi Arabia and sanctions waivers by the United States. Hedge funds and other money managers cut their combined net long position in the … Read moreCommentary: Brent falls as fund managers take profits after rally

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Gulf of Mexico offshore platforms evacuated ahead of hurricane

HOUSTON (Reuters) – Energy companies on Monday halted nearly a fifth of Gulf of Mexico oil production and evacuated staff from 13 platforms as Hurricane Michael intensified and headed for a path up the eastern U.S. Gulf. Offshore producers including Anadarko Petroleum Corp, BHP Billiton, BP and Chevron Corp evacuated workers from oil and gas … Read moreGulf of Mexico offshore platforms evacuated ahead of hurricane

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Trump to lift ban on higher-ethanol gasoline ahead of November elections

By Jarrett Renshaw and Humeyra Pamuk NEW YORK (Reuters) – U.S. President Donald Trump will seek to lift a federal ban on summer sales of higher-ethanol blends of gasoline on Tuesday, a senior White House official said, delivering on a move long-sought by anxious Midwest farmers ahead of November’s elections. The move will be coupled … Read moreTrump to lift ban on higher-ethanol gasoline ahead of November elections

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The End of Coal Could Be Closer Than It Looks: David Fickling

Imported coal is seen lifted by cranes from a coal cargo ship at a port in Lianyungang, Jiangsu province, China July 26, 2018. REUTERS/Stringer

Oct 8, 2018, by David Fickling (Bloomberg Opinion) Should we just give up now? The world’s electrical utilities need to reduce coal consumption by at least 60 percent over the two decades through 2030 to avoid the worst effects of climate change that could occur with more than 1.5 degrees Celsius (2.7 degrees Fahrenheit) of … Read moreThe End of Coal Could Be Closer Than It Looks: David Fickling

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Big Oil Is About to Bury Skeptical Investors in Piles of Cash

Oct 8, 2018, by Kelly Gilblom (Bloomberg) Investors still haven’t forgiven oil companies for being ill-prepared for a crude-price collapse four years ago. Perhaps more than half a trillion dollars will change their minds. With oil above $80 a barrel as costs languish at an eight-year low, the industry is seeing green. In 2018 alone, … Read moreBig Oil Is About to Bury Skeptical Investors in Piles of Cash

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Gardner Denver
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Five Things to Know in World Business Today

Oct 9, 2018, by Lorcan Roche Kelly (Bloomberg) Yields rise  The U.S. Treasury selloff continues, with the yield on the 10-year benchmark hitting 3.25 percent, the highest since May 2011. The move comes as the market braces for $74 billion in new supply this week with sales of three-, 10- and 30-year bonds due. Morgan Stanley threw … Read moreFive Things to Know in World Business Today

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Gardner Denver
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China slashes U.S. LPG imports amid trade war

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

By Seng Li Peng SINGAPORE (Reuters) – China has choked back on imports of liquefied petroleum gas (LPG) from the United States, traders and analysts said, turning to the Middle East for extra supplies amid the two countries’ trade dispute. China bought nearly 3.6 million tonnes of U.S. LPG in 2017, making the United States … Read moreChina slashes U.S. LPG imports amid trade war

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IEA Urges OPEC to Open Taps as Oil Market Enters ‘Red Zone’

Oct 9, 2018, by Javier Blas, Grant Smith and Francine Lacqua (Bloomberg) The International Energy Agency made a direct appeal to OPEC and other major oil producers to boost output, warning that prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” … Read moreIEA Urges OPEC to Open Taps as Oil Market Enters ‘Red Zone’

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Exxon Puts $1 Million Into Quest for Carbon Tax-and-Rebate Plan

Oct 9, 2018, by Jennifer A. Dlouhy and Christopher Flavelle (Bloomberg) An effort to put a tax on carbon dioxide emissions just won an unlikely underwriter: a top producer of oil and gas. Exxon Mobil Corp. is putting $1 million into a political campaign that, if successful, would effectively spawn a tax tied to the … Read moreExxon Puts $1 Million Into Quest for Carbon Tax-and-Rebate Plan

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Canada’s Largest Oil Refinery Shut After Diesel Unit Blast

Oct 9, 2018, by David Marino (Bloomberg) Irving Oil Corp.’s refinery in New Brunswick, a major supplier of fuel to the northeastern U.S., was shut after an explosion and fire in a diesel unit. The hydrotreater, which removes sulfur from diesel to make fuel that meets environmental standards, was in the part of the refinery … Read moreCanada’s Largest Oil Refinery Shut After Diesel Unit Blast

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Apollo to Buy $1 Billion of Energy Investments From GE Capital

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

Oct 8, 2018 by Richard Clough (Bloomberg)  General Electric Co. agreed to sell about $1 billion of equity investments to Apollo Global Management as the downtrodden manufacturer extends a push to slim down and shed finance assets following a surprise CEO change. The portfolio includes about 20 investments in renewable energy and other U.S. power … Read moreApollo to Buy $1 Billion of Energy Investments From GE Capital

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Climate Crisis Spurs UN Call for $2.4 Trillion Fossil Fuel Shift

Oct 8, 2018 by Reed Landberg, Chisaki Watanabe and Heesu Lee (Bloomberg) The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to avoid catastrophic damage from climate change, according to scientists convened by the United Nations. Their report published … Read moreClimate Crisis Spurs UN Call for $2.4 Trillion Fossil Fuel Shift

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Baker Hughes to Pay $550 Million for Stake in Adnoc Drilling

Oct 8, 2018 by Mahmoud Habboush and Manus Cranny (Bloomberg)  Baker Hughes, the Houston-based oilfield services business, agreed to buy a 5 percent stake in Adnoc Drilling, a deal that values the unit of government-run Abu Dhabi National Oil Co. at about $11 billion. The investment marks the first time that an international partner takes … Read moreBaker Hughes to Pay $550 Million for Stake in Adnoc Drilling

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Commentary: OPEC Takes a Backward View of the Future 

By Liam Denning and Nathaniel Bullard (Bloomberg Opinion)  The Organization of the Petroleum Exporting Countries has seen the future and — you may want to sit down for this — it involves more cars. Just not as many cars as it was expecting. In its latest World Oil Outlook, published last month, the oil exporters’ club foresees … Read moreCommentary: OPEC Takes a Backward View of the Future 

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Saudi Crown Prince Discusses Trump, Aramco, Arrests: Transcript

Oct 5, 2018 by Stephanie Flanders, Vivian Nereim, Donna Abu-Nasr, Nayla Razzouk, Alaa Shahine and Riad Hamade (Bloomberg)  Bloomberg’s Senior Executive Editor for Economics, Stephanie Flanders, and five other Bloomberg journalists spoke to Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud Wednesday night at a royal compound in Riyadh. In the wide-ranging interview, the … Read moreSaudi Crown Prince Discusses Trump, Aramco, Arrests: Transcript

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

October 5, 2018 The U.S. oil drilling rig count fell for a third consecutive week even though crude prices hit four-year highs this week, as rising costs and pipeline bottlenecks in the nation’s largest oil field have hindered new drilling since June.Drillers cut two oil rigs in the week to Oct. 5, bringing the total … Read moreU.S. oil drillers cut rigs for third week in a row

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Baker Hughes, a GE company Announces September 2018 Rig Counts

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for September 2018 was 1,004, down 4 from the 1,008 counted in August 2018, and up 73 from the 931 counted in September 2017. The international offshore rig count for September 2018 was 204, down 8 from … Read moreBaker Hughes, a GE company Announces September 2018 Rig Counts

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Just Another Billion-Dollar Elon Musk Tweet: Liam Denning

Oct 4, 2018, by Liam Denning (Bloomberg Opinion) “Elon Musk tweeted something” really ought not to be how a piece about Tesla Inc. starts. But that’s what happened late on Thursday afternoon, and it matters. Here it is: Grammatical mishap aside, this is what some might call a “sick burn,” one supposes. Just four minutes … Read moreJust Another Billion-Dollar Elon Musk Tweet: Liam Denning

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Oil Producers Need to Pump More or Put Demand Growth at Risk

Fatih Birol, Executive Director of the International Energy Agency attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 19, 2017. REUTERS/Ruben Sprich

Oct 4, 2018, by Saket Sundria (Bloomberg) Rising oil prices may hurt demand in some of the world’s fastest-growing nations unless producers take steps to boost supplies, according to the International Energy Agency. “I wouldn’t be surprised if we revise our numbers,” Fatih Birol, the executive director of the Paris-based adviser, said in a phone … Read moreOil Producers Need to Pump More or Put Demand Growth at Risk

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North Carolina, Environmentalists at Odds Over Duke Coal Spill

Oct 5, 2018, by Jim Efstathiou Jr. and Ari Natter (Bloomberg) North Carolina officials concluded coal ash from a Duke Energy Corp. power plant didn’t pollute a nearby river after Hurricane Florence, contradicting earlier findings from environmentalists. Water samples taken near Duke’s Sutton power plant site in Wilmington show “all metals below state water quality … Read moreNorth Carolina, Environmentalists at Odds Over Duke Coal Spill

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Citgo, Valero drive up U.S. purchases of Venezuelan oil in September

Citgo Refinery in Chicago, U.S.

(Reuters) – Venezuela’s September crude sales to the United States rose to their highest in over a year, boosted by purchases by Citgo Petroleum, the U.S. refining arm of Venezuela’s state-run PDVSA, and Valero Energy, according to Refinitiv Eikon trade flows data. A collision in August at a dock of Venezuela’s main oil port of … Read moreCitgo, Valero drive up U.S. purchases of Venezuelan oil in September

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Five Things to Know in World Business Today

Oct 5, 2018, by Lorcan Roche Kelly (Bloomberg) Payrolls Expectations are for employers in the U.S. to have added 185,000 positions in September when the number is published at 8:30 a.m. Eastern Time. That estimate does come with a big caveat. Hurricane Florence is likely to distort the data, which may mute market reaction to a lower-than-forecast … Read moreFive Things to Know in World Business Today

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Iowa Looks to Take the Next Steps on Storage

Wind Turbine

Oct. 5, 2018, by Karen Uhlenhuth (Renewable Energy World) A $200,000 state grant will finance research into two solar-plus-storage projects aimed at better understanding the state’s energy storage potential. As one of the nation’s leading producers of wind energy, Iowa has abundant — but also sporadic — energy resources. State officials see huge potential for … Read moreIowa Looks to Take the Next Steps on Storage

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Bahrain promised $10 billion of support from Gulf neighbors

DUBAI (Reuters) – Saudi Arabia, Kuwait and the United Arab Emirates have agreed to give Bahrain $10 billion to support the country’s funding requirements as it embarks on a fiscal program aimed at eliminating its budget deficit by 2022. Bahrain’s finances have been hit hard by a slump in oil prices in 2014 and the … Read moreBahrain promised $10 billion of support from Gulf neighbors

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Rolls-Royce Invests in Plug-and-Play Energy Storage Company to Expand Microgrid Offering

October 4, 2018, by Renewable Energy World Editors Rolls-Royce announced that it is investing in Berlin-based start-up company Qinous GmbH, a provider of what it calls plug and play energy storage and control systems. Qinous has gained experience in the integration of battery storage and energy systems in microgrids in more than 30 projects worldwide, … Read moreRolls-Royce Invests in Plug-and-Play Energy Storage Company to Expand Microgrid Offering

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Plastic Waste in the World’s Oceans Could Double by 2030

Oct 5, 2018, by Alexander Kwiatkowski (Bloomberg) The International Energy Agency has a sobering warning about the health of the world’s oceans. The total amount of oceanic plastic waste is likely to more than double by 2030, and then keep getting worse, if action isn’t taken now, according to projections by the Paris-based organization in … Read morePlastic Waste in the World’s Oceans Could Double by 2030

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Trump Said to Aim Ethanol Boost at Farm-Belt Voters in Iowa

Oct 4, 2018, by Jennifer A. Dlouhy and Mario Parker (Bloomberg) President Donald Trump is poised to tell Iowa voters next week he’ll allow year-round sales of high-ethanol gasoline — a move that could bolster Midwest Republicans in tough election contests. Trump is tentatively scheduled to commit to the policy change on E15 fuel that … Read moreTrump Said to Aim Ethanol Boost at Farm-Belt Voters in Iowa

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Judge tells Tesla, SEC to justify settlement of fraud lawsuit

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

(Reuters) – A New York district court judge has asked Tesla Inc Chief Executive Officer Elon Musk and the U.S. Securities and Exchange Commission to provide a joint statement by Oct. 11, explaining why their settlement should be approved. Judge Alison Nathan said it was a regular practice at the Southern District of New York … Read moreJudge tells Tesla, SEC to justify settlement of fraud lawsuit

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U.S. approves part of TransCanada WB XPress natgas pipe for service

Oct 4 (Reuters) – U.S. federal energy regulators on Thursday approved a request by TransCanada Corp’s Columbia Gas Transmission unit to put part of its WB XPress natural gas pipeline project into service in West Virginia. WB XPress is one of several pipelines designed to connect growing output in the Marcellus and Utica shale basins … Read moreU.S. approves part of TransCanada WB XPress natgas pipe for service

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Column: Oil prices enter the danger zone for consumers – Kemp

By John Kemp LONDON (Reuters) – Crude oil prices continue to climb despite attempts by oil producers to reassure the market about availability and the existence of enough spare capacity to offset oil lost as a result of U.S. sanctions on Iran. Recent price moves bear a strong resemblance to previous price spikes in 2007-2008 … Read moreColumn: Oil prices enter the danger zone for consumers – Kemp

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Occidental Petroleum to Announce Third Quarter Results Monday, November 5, 2018; Hold Conference Call Tuesday, November 6, 2018

HOUSTON – October 3, 2018 – Occidental Petroleum Corporation (NYSE:OXY) will announce its third quarter 2018 financial results after close of market on Monday, November 5, 2018, and will hold a conference call to discuss results on Tuesday, November 6, 2018, at 12 p.m. Eastern/11 a.m. Central. The conference call may be accessed by calling … Read moreOccidental Petroleum to Announce Third Quarter Results Monday, November 5, 2018; Hold Conference Call Tuesday, November 6, 2018

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TransAtlantic Petroleum Announces Strategic Alternatives Update

HAMILTON, Bermuda, Oct. 03, 2018 (GLOBE NEWSWIRE) — TransAtlantic Petroleum Ltd. (TSX: TNP) (NYSE American: TAT) (the “Company” or “TransAtlantic”) today announced the following update regarding its strategic alternatives process. Strategic Alternatives Process During the third quarter of 2018, the Company received a formal offer from N. Malone Mitchell 3rd, the Company’s Chief Executive Officer and … Read moreTransAtlantic Petroleum Announces Strategic Alternatives Update

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OPEC able to raise oil output by 1.3 million barrels per day: TASS cites Saudi’s Falih

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

MOSCOW (Reuters) – Saudi Energy Minister Khalid al-Falih said OPEC is technically able to raise oil output by 1.3 million barrels per day (bpd), the TASS news agency reported on Thursday. The minister was attending an energy forum in Moscow. TASS had earlier incorrectly reported that Falih said his own country was able to increase … Read moreOPEC able to raise oil output by 1.3 million barrels per day: TASS cites Saudi’s Falih

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A Gulf Sale Would Be a Good Step for Exxon: Liam Denning

Oct 3, 2018, by Liam Denning (Bloomberg Opinion) The supertanker is turning. Exxon Mobil Corp. is exploring a sale of its assets in the Gulf of Mexico, Reuters reported on Tuesday, citing unnamed sources. If so, it’s a significant step. Not because Exxon has a lot of assets there; the Gulf of Mexico accounts for a … Read moreA Gulf Sale Would Be a Good Step for Exxon: Liam Denning

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Trump nominates coal, nuclear bailout supporter to U.S. power agency

Imported coal is seen lifted by cranes from a coal cargo ship at a port in Lianyungang, Jiangsu province, China July 26, 2018. REUTERS/Stringer

WASHINGTON (Reuters) – U.S. President Donald Trump on Wednesday nominated a proponent of his administration’s plan to subsidize aging coal and nuclear plants to a federal agency that regulates power transmission, a move criticized by environmental groups who questioned his independence on the issue. Trump nominated Bernard McNamee to the vacant seat of the five-member … Read moreTrump nominates coal, nuclear bailout supporter to U.S. power agency

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IEA boss urges oil producers to ease supply concerns

Fatih Birol, Executive Director of the International Energy Agency attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 19, 2017. REUTERS/Ruben Sprich

LONDON, Oct 4 (Reuters) – Major oil producers must take “the right steps” to ease supply concerns that have lifted crude prices to a four year-high, the head of the International Energy Agency told Reuters on Thursday. “It is now high time for all the players, especially those key producers and oil exporters, to consider … Read moreIEA boss urges oil producers to ease supply concerns

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U.S. crude oil stocks jump 8 million barrels last week

Oil Storage

(Reuters) – U.S. crude oil stockpiles rose by their most in a week since March 2017, driven in part by a build at the Cushing, Oklahoma, hub and a drop in exports, the Energy Information Administration said on Wednesday. Crude inventories jumped by 8 million barrels in the week to Sept. 28, four times analysts’ … Read moreU.S. crude oil stocks jump 8 million barrels last week

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Five Things to Know in World Business Today

Oct 4, 2018, by Lorcan Roche Kelly (Bloomberg) Slump A government bond rout that began yesterday in the Treasury market has gone global, gripping markets from Asia to Europe. The move began yesterday after stronger-than-expected data on the U.S. economy and was bolstered by comments from Fed Chair Jerome Powell in which he said the central … Read moreFive Things to Know in World Business Today

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Shell LNG, Trade Deal No Help to Stalled Trans Mountain Pipeline

Oct 3, 2018, by Natalie Obiko Pearson (Bloomberg) Royal Dutch Shell Plc’s commitment to invest in the largest private-sector project in Canada’s history and a new trade deal with the U.S. and Mexico show the country is open for business again. But neither are likely to help Trans Mountain, the troubled oil pipeline project that … Read moreShell LNG, Trade Deal No Help to Stalled Trans Mountain Pipeline

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Global energy bosses send Trump a message: world needs Russian gas

By Dmitry Zhdannikov and Denis Pinchuk MOSCOW (Reuters) – Global energy bosses assembled in Moscow on Wednesday said the world needed Russian gas to keep the lights on, in a clear message to U.S. President Donald Trump who has warned he may impose sanctions on Russian gas export projects. Trump’s administration, citing what it calls … Read moreGlobal energy bosses send Trump a message: world needs Russian gas

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Traders bet on oil at $100 as Iran sanctions loom

Oil worker pipe

NEW YORK/LONDON (Reuters) – Oil traders have piled into wagers that U.S. crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record U.S. production growth and relatively flat global demand. But the imminent return of U.S. sanctions on Iran and bottlenecks keeping U.S. … Read moreTraders bet on oil at $100 as Iran sanctions loom

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Trump’s Request for OPEC to Max-Out Oil Output May Backfire

Donald Trump

Oct 4, 2018, by Dina Khrennikova, Jack Farchy and Elena Mazneva (Bloomberg) If OPEC is the central bank of oil, then the Trump administration is commanding it to run the printing presses at full speed. The U.S. State Department took the unusual step of issuing a statement on Wednesday asking the cartel to boost production … Read moreTrump’s Request for OPEC to Max-Out Oil Output May Backfire

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Saudis and Russia Open the Oil Taps While the Market Shrugs

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

Oct 3, 2018, by Elena Mazneva, Annmarie Hordern and Dina Khrennikova (Bloomberg) Russia and Saudi Arabia are pumping an extra 1 million barrels a day of oil and could do even more. Yet the market doesn’t seem to care. After their September meeting in Algiers spurred prices to a four-year high, the world’s two largest … Read moreSaudis and Russia Open the Oil Taps While the Market Shrugs

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Who’s Winning the Self-Driving Car Race?

Oct 3, 2018, by David Welch and Elisabeth Behrmann (Bloomberg) In the race to start the world’s first driving business without human drivers, everyone is chasing Alphabet Inc.’s Waymo. The Google sibling has cleared the way to beat its nearest rivals, General Motors Co. and a couple of other players, by at least a year to introduce … Read moreWho’s Winning the Self-Driving Car Race?

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Troubled $4.6 Billion Pipe Hits New Snag on Surprise Ruling

Oct 3, 2018, by Rachel Adams-Heard (Bloomberg) A $4.6 billion shale gas pipeline that’s already been delayed by about a year is facing yet another setback after a court unexpectedly vacated a key permit. A U.S. appeals court voided a federal authorization for the Mountain Valley project, which will be operated by EQT Midstream Partners … Read moreTroubled $4.6 Billion Pipe Hits New Snag on Surprise Ruling

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Salt Creek Midstream to Partner with Noble Midstream on Crude Oil Pipeline and Gathering System in the Delaware Basin

HOUSTON–(BUSINESS WIRE)–Salt Creek Midstream, LLC (“Salt Creek”), a portfolio company owned by funds managed by the Private Equity Group of Ares Management, L.P. (“Ares”) and by ARM Energy Holdings, LLC (“ARM Energy”), today announced that it has entered into a letter of intent with Noble Midstream Partners LP (“Noble Midstream”) to form a 50/50 partnership … Read moreSalt Creek Midstream to Partner with Noble Midstream on Crude Oil Pipeline and Gathering System in the Delaware Basin

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Noble Midstream Partners Provides Permian Basin Commercial and Business Development Update

HOUSTON–(BUSINESS WIRE)–Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream” or the “Partnership”) today provided a commercial and business development update for its operations in the Permian Basin in Texas. Highlights include: Noble Midstream has entered into a letter of intent with Salt Creek Midstream LLC (“Salt Creek”) to form a 50/50 joint venture on a … Read moreNoble Midstream Partners Provides Permian Basin Commercial and Business Development Update

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Babcock & Wilcox Announces Completion of CFIUS Review

BARBERTON, Ohio–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (NYSE:BW) (“B&W”) announced that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the company’s previously announced sale of its MEGTEC and Universal businesses to Dürr AG (“Dürr”) and determined that there are no unresolved national security concerns with respect to the … Read moreBabcock & Wilcox Announces Completion of CFIUS Review

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U.S. crude oil shipments to China ‘totally stopped’ amid trade war: shipping executive

Oil Tanker in U.S.

HONG KONG (Reuters) – U.S. crude oil shipments to China have “totally stopped”, the President of China Merchants Energy Shipping Co (CMES) said on Wednesday, as the trade war between the world’s two biggest economies takes its toll on what was a fast growing businesses. Washington and Beijing have slapped steep import tariffs on hundreds … Read moreU.S. crude oil shipments to China ‘totally stopped’ amid trade war: shipping executive

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Energy firms pour $20 million into defeating Colorado drilling curbs

By Liz Hampton HOUSTON (Reuters) – Oil and gas companies and their supporters have poured $20.3 million since August into a campaign to defeat a Colorado ballot initiative that would limit new drilling in populated areas, according to state financial filings released on Tuesday. Colorado, the sixth largest and one of the fastest growing U.S. … Read moreEnergy firms pour $20 million into defeating Colorado drilling curbs

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COLUMN-Build it and they will buy. The new world of LNG Canada: Russell

(The opinions expressed here are those of the author, a columnist for Reuters.) By Clyde Russell LAUNCESTON, Australia, Oct 3 (Reuters) – The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian … Read moreCOLUMN-Build it and they will buy. The new world of LNG Canada: Russell

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Russian gas exports to boom despite U.S. pressure and rivalry

MOSCOW (Reuters) – Russia is setting records in gas pipeline exports despite U.S. pressure on Europe to reduce imports, and aims to become the world’s leading liquefied gas exporter in the next decade thanks to technology it is developing at home. Russian government officials and executives told an industry conference on Wednesday they expect Russia … Read moreRussian gas exports to boom despite U.S. pressure and rivalry

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Saudi’s Falih says global oil market is well supplied

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

MOSCOW (Reuters) – The global oil market is well supplied and Saudi Arabia has successfully met additional demand, Saudi Energy Minister Khalid al-Falih said on Wednesday. He was speaking to reporters in Moscow, where he is due to attend an energy conference with Russian President Vladimir Putin and other influential energy officials. Falih said Saudi … Read moreSaudi’s Falih says global oil market is well supplied

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Marathon Oil looks to exit North Sea, joining other U.S. rivals

By Ron Bousso LONDON (Reuters) – Marathon Oil has launched the sale of its British North Sea oil and gas fields, a document seen by Reuters showed, the latest U.S. firm to retreat from the basin to focus on onshore shale production at home. The sale includes stakes in the BP-operated Foinaven fields in the … Read moreMarathon Oil looks to exit North Sea, joining other U.S. rivals

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Tesla must defend lawsuit alleging abuse of foreign workers

(Reuters) – A federal judge has ruled that Tesla must defend itself at a trial over allegations it knew foreign workers at its California assembly plant were threatened with deportation if they reported an injury and worked long shifts that violated forced labor laws. U.S. District Judge Lucy Koh, in San Jose, California, dismissed most … Read moreTesla must defend lawsuit alleging abuse of foreign workers

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Iran’s Oil Buyer and Rival, U.A.E. May Be Cracking Down on Trade

Oct 3, 2018, by Serene Cheong, Anthony DiPaola and Mohammed Aly Sergie (Bloomberg) The United Arab Emirates, which has a history of talking tough on Iran while still buying its oil, appears to be taking steps to comply with looming U.S. sanctions against the Islamic Republic’s energy industry. Dubai is the U.A.E.’s main importer of … Read moreIran’s Oil Buyer and Rival, U.A.E. May Be Cracking Down on Trade

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Five Things to Know in World Business Today

Oct 3, 2018, by Lorcan Roche Kelly (Bloomberg) Probe The New York Times published a 15,000 word report saying President Donald Trump received at least $413 million from his father, contradicting Trump’s own claims that he is a self-made billionaire who started with just a $1 million loan. The claims, many of which date back … Read moreFive Things to Know in World Business Today

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New Nafta Drops Relic of Energy Crises Past Assuring Oil Exports

Refinery

Oct 2, 2018, by Alex Nussbaum (Bloomberg) With the U.S. gushing oil at record levels, America apparently no longer needs to preserve Canada as its emergency crude supplier. Missing in the North American trade pact unveiled Monday is a controversial provision from the old Nafta requiring Canada to provide a percentage of its energy exports … Read moreNew Nafta Drops Relic of Energy Crises Past Assuring Oil Exports

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Why Iran’s Lost Oil Sales Could Be Met by These Three Producers

Oct 2, 2018, by Anthony DiPaola (Bloomberg) With the noose of U.S. sanctions already tightening on Iran’s oil exports, buyers and traders of crude are asking who can make up for the expected shortfall in supply. Most Iranian oil is heavier, or more viscous, than international benchmark crudes. It’s also high in sulfur, an impurity. … Read moreWhy Iran’s Lost Oil Sales Could Be Met by These Three Producers

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After lean years, Big Oil is under pressure to spend

Pump Jack

LONDON (Reuters) – Executives at the world’s biggest oil and gas companies are under growing pressure to loosen the purse strings to replenish reserves, halt output declines and take advantage of a crude price rally after years of austerity. With oil at a four-year high of $85 a barrel, exploration departments are urging company boards … Read moreAfter lean years, Big Oil is under pressure to spend

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Saudis Raise Oil Output to Near-Record Amid Pressure From Trump

Oct 3, 2018, by Elena Mazneva, Jack Farchy and Dina Khrennikova (Bloomberg) Saudi Arabia has increased crude production “significantly” to a near-record level amid intense pressure from U.S. President Donald Trump to reduce prices. OPEC’s largest producer is currently pumping about 10.7 million barrels a day, Energy Minister Khalid Al-Falih told reporters in Moscow on … Read moreSaudis Raise Oil Output to Near-Record Amid Pressure From Trump

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Trump’s Import Tariffs Will Make U.S. Wind Power More Expensive

Oct 2, 2018, by Jim Efstathiou Jr. (Bloomberg) President Donald Trump’s trade war won’t wreck the U.S. wind industry, but it will raise the cost of power. Tariffs on $250 billion of Chinese imports, as well as on metals from Europe and elsewhere, could raise the cost of wind power in the U.S. by as … Read moreTrump’s Import Tariffs Will Make U.S. Wind Power More Expensive

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Australia expects resource exports to hit record $182 billion in 2018-2019

By Melanie Burton MELBOURNE (Reuters) – Australia’s government expects the nation’s resource and energy exports to hit a record of A$252 billion ($182 billion) in 2018-2019, buoyed by climbing prices for commodities such as natural gas and by a weaker Australian dollar. However, the country’s Department of Industry also said in a report that the … Read moreAustralia expects resource exports to hit record $182 billion in 2018-2019

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Marathon Petroleum Corp. Announces Successful Completion Of Andeavor Combination, Creating The Leading US Refining, Midstream And Marketing Company

FINDLAY, Ohio, Oct. 1, 2018 /PRNewswire/ — Marathon Petroleum Corp. (NYSE: MPC) has closed the transaction in which it acquired all of the outstanding shares of Andeavor. As of this morning, Andeavor ceased to be publicly traded and its common stock discontinued trading on the New York Stock Exchange. “This transformative transaction is a significant … Read moreMarathon Petroleum Corp. Announces Successful Completion Of Andeavor Combination, Creating The Leading US Refining, Midstream And Marketing Company

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Fluor Joint Venture to Design and Build LNG Canada Project

IRVING, Texas & CALGARY, Alberta–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that LNG Canada has made the final investment decision to build its liquefied natural gas (LNG) export facility in Kitimat, British Columbia, Canada. Fluor’s joint venture with JGC Corporation will provide the engineering, procurement, fabrication and construction on the project. Fluor will book its … Read moreFluor Joint Venture to Design and Build LNG Canada Project

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COLUMN-OPEC and traders in standoff over oil outlook: Kemp

OPEC Flag

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2OyHccI By John Kemp LONDON, Oct 2 (Reuters) – OPEC and oil traders are now in fundamental disagreement about the market outlook and the standoff is fuelling a sharp rise in prices that could spell trouble for the global economy … Read moreCOLUMN-OPEC and traders in standoff over oil outlook: Kemp

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Denmark embraces electric car revolution with petrol and diesel ban plan

COPENHAGEN (Reuters) – Denmark has proposed a ban on the sale of new petrol and diesel cars from 2030 and hybrid from 2035, joining international efforts to promote electric-only vehicles to reduce air pollution and combat climate change. The government has previously come under fire for increasing tax on electric cars in 2016, sending sales … Read moreDenmark embraces electric car revolution with petrol and diesel ban plan

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U.S. East Coast refiners cash in by the trainload on Canadian oil

Philadelphia Oil Refinery

NEW YORK/VANCOUVER (Reuters) – U.S. East Coast oil refiners are ramping up rail deliveries of crude from Western Canada, grabbing stranded barrels that full pipelines have driven to a record discount. That trend is expected to accelerate, as prices will remain weak, with no new Canadian export pipelines expected until late 2019. Rail volumes from … Read moreU.S. East Coast refiners cash in by the trainload on Canadian oil

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Crude oil, natural gas may be about to repeat coal’s hubris: Russell

Oil pipe

By Clyde Russell LAUNCESTON, Australia (Reuters) – The crude oil and natural gas industries believe they have got their mojo back, with the overwhelming impression gained at two recent conferences that the future is indeed bullish. It was hard to find any downbeat delegates at last week’s Asia Pacific Petroleum Conference, the region’s largest annual … Read moreCrude oil, natural gas may be about to repeat coal’s hubris: Russell

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Too much oil? Texas boom outpaces supply, transport networks

Oil Refinery

By Liz Hampton, Jarrett Renshaw and Devika Krishna Kumar MIDLAND, Texas (Reuters) – The west Texas drillers that drove the shale revolution have overwhelmed the region’s infrastructure with oil production -driving up costs, depressing regional oil prices and slowing the pace of growth. The U.S. government continues to forecast the country’s oil output rising to … Read moreToo much oil? Texas boom outpaces supply, transport networks

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Emerging Markets’ Oil Shock Has Already Started: David Fickling

Oct 2, 2018, by David Fickling (Bloomberg Opinion) With Brent crude surging north of $85 a barrel and some analysts warning that $100 is just around the corner, it’s comforting to remember that we’re still a long way from 2008, when oil hit an all-time record of $147.50. Comforting, but wrong. For much of the … Read moreEmerging Markets’ Oil Shock Has Already Started: David Fickling

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More Women, But Still Mostly Men on Podium at Top Oil Gathering

Oct 1, 2018, by Sungwoo Park, Sharon Cho and Dan Murtaugh (Bloomberg) The presence of female speakers at one of the world’s biggest gatherings of oil traders increased sharply this year. One in about five of the speakers at the annual Asia Pacific Petroleum Conference last week in Singapore was female, more than double the … Read moreMore Women, But Still Mostly Men on Podium at Top Oil Gathering

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Five Things to Know in World Business Today

Oct 2, 2018, by Lorcan Roche Kelly (Bloomberg) Standing firm Deputy Prime Minister Luigi Di Maio said the Italian government will not retreat by even a “millimeter” (0.04 inches) from its 2.4 percent budget deficit target. His comments come after euro-area finance ministers gave the proposal a cool reception at a meeting yesterday, with head of … Read moreFive Things to Know in World Business Today

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Bill allowing U.S. to sue OPEC drawing renewed interest

NEW YORK/DUBAI (Reuters) – With oil prices hitting fresh four-year highs, long-dormant proposals to allow the United States to sue OPEC nations are getting a fresh look in Congress, though they were once considered a longshot to becoming law. A U.S. Senate subcommittee on Wednesday will hear testimony on the so-called No Oil Producing and … Read moreBill allowing U.S. to sue OPEC drawing renewed interest

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As climate risks rise, scientists call for rules on solar engineering

By Laurie Goering LONDON (Thomson Reuters Foundation) – Technologies to reflect some of the sun’s rays away from Earth, as a way to cool future runaway climate change, are moving closer to becoming a reality, and rules are needed now to govern them, scientists and other experts said on Monday. “There is no risk-free path … Read moreAs climate risks rise, scientists call for rules on solar engineering

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Graphic: Boom, bust or both? The challenge of predicting 2019’s oil market balance

By Amanda Cooper and Dmitry Zhdannikov LONDON (Reuters) – In the oil market, balance is a difficult game. Calculating whether the 100 million barrel per day world market is likely in the months ahead to have a surplus or deficit of supply, or be balanced, where supply equals demand, is never simple. Projections must take … Read moreGraphic: Boom, bust or both? The challenge of predicting 2019’s oil market balance

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Electric cars cast growing shadow on profits

By Laurence Frost PARIS (Reuters) – Electric cars are poised to arrive en masse in European showrooms after years of hyped concept-car launches and billions in investment by automakers and suppliers. Now comes the hard part: selling them at a profit. Battery models making their car-show debut in Paris this week, from PSA Group’s (PEUP.PA) … Read moreElectric cars cast growing shadow on profits

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Average 2018 U.S. crude price forecast at $68.81/bbl – Dallas Fed

October 1, 2018 Reuters (Reuters) – The average price of U.S. benchmark West Texas Intermediate (WTI) crude futures should be $68.81 a barrel by the end of the year according to results of a survey released by the Federal Reserve Bank of Dallas on Monday. Responses ranged between $55 and $85 per barrel, according to the … Read moreAverage 2018 U.S. crude price forecast at $68.81/bbl – Dallas Fed

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Equinor buys Rosebank oilfield stake as Chevron shrinks in North Sea

OSLO (Reuters) – Norway’s Equinor (EQNR.OL) confirmed on Monday it had agreed to buy Chevron’s (CVX.N) 40 percent stake in the Rosebank oilfield west of Scotland’s Shetland islands for an undisclosed sum, as Chevron shrinks its North Sea presence. Chevron is also looking into selling its other assets, most of which it operates, in the … Read moreEquinor buys Rosebank oilfield stake as Chevron shrinks in North Sea

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ConocoPhillips sells stake in Sunrise gas field to East Timor

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

MELBOURNE (Reuters) – U.S. oil and gas producer ConocoPhillips said on Monday it signed a deal to sell its 30 percent stake in the Greater Sunrise gas field to East Timor for $350 million. A delegation led by former East Timor president Xanana Gusmao and its proposed new petroleum minister Alfredo Pires signed a final … Read moreConocoPhillips sells stake in Sunrise gas field to East Timor

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General Electric replaces CEO with outsider, shares soar

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

By Alwyn Scott and Arunima Banerjee (Reuters) – General Electric Co (GE.N) ousted Chief Executive Officer John Flannery in a surprise move on Monday, replacing him with outsider and board member Larry Culp, and said it would take a roughly $23-billion charge to write off goodwill in its power division, primarily from a large 2015 … Read moreGeneral Electric replaces CEO with outsider, shares soar

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Hedge funds doubt Saudi Arabia will replace Iranian oil: Kemp

By John Kemp LONDON (Reuters) – Hedge fund managers are increasingly betting Saudi Arabia and its allies cannot or will not replace all the crude lost from the market when U.S. sanctions on Iran go into effect fully from November. Hedge funds and other money managers increased their combined net long position in the six … Read moreHedge funds doubt Saudi Arabia will replace Iranian oil: Kemp

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Energy majors to pay Kazakhstan $1.1 billion to settle Karachaganak row

Shell Gas Station

ALMATY (Reuters) – Energy majors developing the Karachaganak gas condensate field will pay $1.1 billion to Kazakhstan to settle a profit-sharing dispute, Kazakhstan’s Energy Ministry said on Monday. Kazakhstan and the consortium led by Shell and Eni will also amend the terms of their production-sharing agreement so that the former Soviet republic will receive a … Read moreEnergy majors to pay Kazakhstan $1.1 billion to settle Karachaganak row

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Canada’s Husky Energy offers to buy MEG Energy in $5 billion deal

(Reuters) – Canadian oil and gas producer Husky Energy Inc (HSE.TO) said on Sunday it has made an unsolicited bid to acquire rival MEG Energy Corp (MEG.TO) in a deal valued at C$6.4 billion ($5 billion) including debt. The combined company would have total production of more than 410,000 barrels of oil equivalent per day … Read moreCanada’s Husky Energy offers to buy MEG Energy in $5 billion deal

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OPEC oil output boost in September limited by Iran losses: Reuters survey

By Alex Lawler LONDON (Reuters) – OPEC delivered only a limited increase in oil production in September, a Reuters survey has found, as a cut in Iranian shipments due to U.S. sanctions offset higher output in Libya, Saudi Arabia and Angola. The 15-member Organization of the Petroleum Exporting Countries pumped 32.85 million barrels per day … Read moreOPEC oil output boost in September limited by Iran losses: Reuters survey

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DJR Energy to Acquire Encana’s San Juan Basin Assets

DENVER–(BUSINESS WIRE)–DJR Energy, LLC (“DJR” or the “Company”) has agreed to acquire Encana Corporation’s (“Encana”) San Juan Basin assets. The pending acquisition includes approximately 182,000 net acres, and, when combined with DJR’s existing assets, the Company will have a total of over 350,000 net acres focused in the oil window of the San Juan Basin. … Read moreDJR Energy to Acquire Encana’s San Juan Basin Assets

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Matador Resources Company Announces Offering of $250 Million of Additional Senior Notes Due 2026

DALLAS–(BUSINESS WIRE)–Matador Resources Company (NYSE: MTDR) (“Matador”) announced today that, subject to market conditions, it intends to offer $250 million of senior unsecured notes due 2026 (the “Additional Notes”) in a private placement to eligible purchasers. The Additional Notes are being offered as additional notes to Matador’s existing $750 million aggregate principal amount of 5.875% … Read moreMatador Resources Company Announces Offering of $250 Million of Additional Senior Notes Due 2026

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Trump Gets Oil Traders’ Attention Over Call With Saudi King

Sep 30, 2018, by Jared S. Hopkins and Javier Blas (Bloomberg) Donald Trump spoke on the phone Saturday with King Salman bin Abdulaziz of Saudi Arabia, days after the U.S. president’s latest criticism of OPEC over high oil prices. The pair discussed efforts to maintain supplies to ensure the stability of the oil market and … Read moreTrump Gets Oil Traders’ Attention Over Call With Saudi King

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Five Things to Know in World Business Today

Oct 1, 2018, by Lorcan Roche Kelly and Sid Verma (Bloomberg) Not Nafta U.S. and Canadian negotiators secured agreement on a successor to the North American Free Trade Agreement ahead of a deadline at midnight yesterday. The new deal, which will be called the U.S.-Mexico-Canada Agreement, or USMCA, has few surprises in the details, and could be … Read moreFive Things to Know in World Business Today

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New Jersey’s Planned $4.1B Clean Energy Investment includes $180M for Storage

October 1, 2018, by Mark Chediak (Bloomberg) New Jersey’s biggest utility says it can make money by getting its customers to use less of what it sells. Public Service Enterprise Group’s electric and gas distributor is proposing to spend $4.1 billion on programs designed to help New Jersey meet its clean energy goals, according to a … Read moreNew Jersey’s Planned $4.1B Clean Energy Investment includes $180M for Storage

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Saudi Arabia said to scrap $200bn solar generation project

By Bernd Debusmann Jr (Arabian Business) A report in US media said that Saudi officials are expected to unveil a broader renewable energy strategy later this month. Saudi Arabia has scrapped a $200 billion plan to build the world’s largest solar-generation project and will instead implement a broader renewable energy strategy, according to a report … Read moreSaudi Arabia said to scrap $200bn solar generation project

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Cortex expands the competitiveness of its industry leading E-Invoicing platform with the announcement of the Acquisition of Powervision, a leading Canadian provider of Paper to Digital and Invoice approval workflow

CALGARY, ALBERTA – September 28, 2018 – Cortex Business Solutions Inc. (“Cortex”) (TSXV: CBX), a North American network-as-a-service e-invoicing solutions provider, today announces it has entered into a share purchase agreement (the “Purchase Agreement”) with the shareholders of Powervision Software Inc. (“Powervision”), pursuant to which Cortex has agreed to acquire all of the issued and … Read moreCortex expands the competitiveness of its industry leading E-Invoicing platform with the announcement of the Acquisition of Powervision, a leading Canadian provider of Paper to Digital and Invoice approval workflow

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What Oil at $100 a Barrel Would Mean for the World Economy

Red Oil Barrels

Sep 30, 2018 by Enda Curran and Michelle Jamrisko (Bloomberg)  Rising oil prices are prompting forecasts of a return to $100 a barrel for the first time since 2014, creating both winners and losers in the world economy. Exporters of the fuel would enjoy bumper returns, giving a fillip to companies and government coffers. By … Read moreWhat Oil at $100 a Barrel Would Mean for the World Economy

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U.S, Canada Agree to Nafta Replacement Called USMCA

NAFTA

Sep 30, 2018 by Jenny Leonard, Josh Wingrove, Jennifer Jacobs and Andrew Mayeda (Bloomberg)  The U.S. and Canada agreed to a trade deal with Mexico, setting the stage for their leaders to sign the accord by late November in a region that trades more than $1 trillion annually. The three countries reached an agreement to … Read moreU.S, Canada Agree to Nafta Replacement Called USMCA

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Power to the Permian? Spotty at Best, Outrun by a Fracking Boom

Sep 30, 2018 by David Wethe (Bloomberg)  America’s fastest-growing source of energy has a power problem. The Permian Basin, which produces almost 4 million barrels of oil a day, has expanded so quickly that suppliers of the electricity needed to keep wells running are struggling to keep up. The Delaware portion alone consumed the equivalent … Read morePower to the Permian? Spotty at Best, Outrun by a Fracking Boom

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Shell, Partners Approve $31 Billion LNG Project to Speed Canadian Gas to Asia 

Sep 30, 2018 by Elffie Chew, Stephen Stapczynski and Natalie Obiko Pearson (Bloomberg)  Royal Dutch Shell Plc and its four partners have agreed to invest in a mult-ibillion-dollar liquefied natural gas project in western Canada — the largest new one of its kind in years that would carve out the fastest route to Asia for … Read moreShell, Partners Approve $31 Billion LNG Project to Speed Canadian Gas to Asia 

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Musk Ousted as Tesla Chairman in SEC Settlement; Will Remain CEO

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

Sep 29, 2018 by Dana Hull (Bloomberg)  Elon Musk will relinquish the role of Tesla Inc. chairman and split a $40 million penalty with the electric-car maker to settle fraud charges brought by the U.S. over his tweeted claims about taking the company private. Musk, 47, will get to keep his job as chief executive … Read moreMusk Ousted as Tesla Chairman in SEC Settlement; Will Remain CEO

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Energy Connect Virtual Conference & Expo (May 21-22, 2019): Featuring Emerging Technologies and Solutions – Details HERE

Energy Connect Virtual Conference & Expo Returns May 21-22, 2019 Featuring Emerging Technologies and Solutions The Energy Connect Conference & Expo is a two-day virtual conference & trade show dedicated to connecting businesses & energy professionals in the oil and gas industry. During Energy Connect, everything is done virtually, making it one of the most accessible … Read moreEnergy Connect Virtual Conference & Expo (May 21-22, 2019): Featuring Emerging Technologies and Solutions – Details HERE

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President Trump’s Nafta Deal With Canada Is Close 

Sep 30, 2018 by Jenny Leonard, Josh Wingrove and Jennifer Jacobs (Bloomberg) The Trump administration is growing confident that a trade deal with Canada is moving close, and that a trilateral Nafta agreement will be published before the midnight deadline Sunday, five people familiar with the matter said. The two sides are discussing the last … Read morePresident Trump’s Nafta Deal With Canada Is Close 

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Oil to rise as Iran sanctions outweigh demand risks from trade wars: Reuters poll

Pump Jack

(Reuters) – Oil prices are likely to climb continuously into next year, as concerns over drops in supply from the likes of Iran and Venezuela outweigh any worry that global trade disputes could undermine demand, a Reuters poll showed on Friday. A survey of 50 economists and analysts forecast Brent crude to average $73.48 a … Read moreOil to rise as Iran sanctions outweigh demand risks from trade wars: Reuters poll

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Transocean Ltd. Announces Contract Extension for Petrobras 10000

STEINHAUSEN, Switzerland, Sept. 28, 2018 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE:RIG) announced today that the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras. The contract is extended through October 2021 and includes a blend and extend modification to the previous contract dayrate, effective September 2018. The additional net contract … Read moreTransocean Ltd. Announces Contract Extension for Petrobras 10000

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U.S. Interior Dept. relaxes rules on offshore oil, gas production

WASHINGTON (Reuters) – The Trump administration on Thursday eased safety rules on offshore oil and gas production put in place after the deadly 2010 BP Plc Deepwater Horizon disaster, as part of its effort to slash regulations and boost the energy industry. The Interior Department revised the 2016 oil and gas production safety systems rule, … Read moreU.S. Interior Dept. relaxes rules on offshore oil, gas production

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E.ON targets innovations for smart energy future

FRANKFURT (Reuters) – Germany’s biggest power supplier E.ON wants smart homes to be smart business in a world of decentralized, low-carbon energy markets. That’s why it teamed up this week with U.S. tech giant Microsoft to produce a digital dashboard of all the electrical devices in a home, from heating systems to solar panels to … Read moreE.ON targets innovations for smart energy future

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Five Things to Know in World Business Today

Sep 28, 2018, by Lorcan Roche Kelly (Bloomebrg) Re: tweet The Securities and Exchange Commission, moving with unusual speed, is suing  Tesla Inc.’s Elon Musk for his August tweet about taking the company private. The SEC accuses Musk of misleading investors and is seeking to ban him from serving as a director, raising the possibility of … Read moreFive Things to Know in World Business Today

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