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What was Trump’s Saudi production tweet hoping to achieve?

July 5, 2018, by Eddie Taylor (Arabian Business) The Explainer: The US president’s claims of two million more barrels a day lie in domestic pressures. We have become used to Donald Trump’s policy-by-social media in the last 18 months, but a recent tweet that claimed Saudi Arabia had agreed to an increase in oil production … Read moreWhat was Trump’s Saudi production tweet hoping to achieve?

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Trump to OPEC: ‘Reduce pricing now!’

Donald Trump

July 4, 2018 WASHINGTON (Reuters) – U.S. President Donald Trump again accused the Organization of the Petroleum Exporting Countries of driving gasoline prices higher on Wednesday and urged the oil producer group to do more. “The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they … Read moreTrump to OPEC: ‘Reduce pricing now!’

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Iran Resorts to Barter for Crude Again as Sanctions Loom

July 4, 2018, by Arsalan Shahla and Anthony DiPaola (Bloomberg) Iran said it’s open to resuming barter payments for oil as U.S. sanctions threaten its access to the global financial system, reviving a method used during a previous wave of sanctions earlier this decade. OPEC’s third-largest producer is unable to bring in dollars or euros … Read moreIran Resorts to Barter for Crude Again as Sanctions Loom

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Saudi plans first change in Asia crude oil price formula in decades, to use DME Oman

July 4, 2018, by Florence Tan SINGAPORE (Reuters) – Saudi Aramco plans to change the formula used to price its long-term crude oil sales to Asia starting from October, marking the first change in benchmarks for its official selling prices (OSP) since the mid-1980s, the company said on Wednesday. Trade sources had earlier informed Reuters … Read moreSaudi plans first change in Asia crude oil price formula in decades, to use DME Oman

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Global oil markets unlikely to be main issue for Putin-Trump summit: Kremlin

Putin and Trump

MOSCOW (Reuters) – The Kremlin said on Wednesday that the situation on global oil markets was unlikely to be one of the main agenda items at a summit between President Vladimir Putin and U.S. President Donald Trump in Helsinki on July 16. “There are much more pressing matters from the point of view of bilateral … Read moreGlobal oil markets unlikely to be main issue for Putin-Trump summit: Kremlin

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U.S. sour crude sellers cut prices after China tariff, OPEC output increase

July 4, 2018, by Florence Tan and Jessica Jaganathan SINGAPORE (Reuters) – Sellers of U.S. sour crude oil have cut their offers for Asian buyers on concern that demand may fall as China threatens to impose tariffs on oil from the United States and Middle East supply may rise after major producers agreed to increase output, … Read moreU.S. sour crude sellers cut prices after China tariff, OPEC output increase

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Iran says Trump’s oil ban on Iran is ‘self harm’: SHANA

Donald Trump

July 4, 2018 LONDON (Reuters) – U.S. President Donald Trump’s pressure on international firms not to buy Iranian oil will drive prices higher and end up hurting his own economy, a senior Iranian oil official said on Wednesday. Iran’s OPEC governor, Hossein Kazempour Ardebili, said oil should not be used as a weapon or to … Read moreIran says Trump’s oil ban on Iran is ‘self harm’: SHANA

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Chevron starts sale of several North Sea oil and gas fields

July 4, 2018, by Ron Bousso LONDON (Reuters) – Chevron has kicked off the sale of a number of its oil and gas fields in the ageing North Sea as part of a review of the U.S. giant’s European operations. The San Ramon, California-based company is the latest veteran North Sea producer seeking to scale … Read moreChevron starts sale of several North Sea oil and gas fields

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Oil Fluctuates as Saudis Pledge More Crude, U.S. Stockpiles Drop

July 4, 2018 by Sharon Cho and Grant Smith (Bloomberg)  Oil traded near $74 a barrel in New York as Saudi Arabia’s pledges to boost supply assuaged concerns of a shortage, while a decline in crude stockpiles in the U.S. inflamed them. Futures slipped 0.8 percent after earlier adding 1 percent. The American Petroleum Institute … Read moreOil Fluctuates as Saudis Pledge More Crude, U.S. Stockpiles Drop

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EPA’s Pruitt takes heat in restaurant over environment policies

July 3, 2018, by Doina Chiacu WASHINGTON (Reuters) – A woman carrying her young son confronted Scott Pruitt, the scandal-plagued chief of the U.S. Environmental Protection Agency, at a Washington eatery and politely asked him to resign to make way for somebody who will protect the environment. Pruitt looked on in silence on Monday as … Read moreEPA’s Pruitt takes heat in restaurant over environment policies

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COLUMN-U.S. motorists react to rising gasoline prices: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2tS9i6S By John Kemp LONDON, July 3 (Reuters) – U.S. traffic volumes are levelling off in a sign the previous stimulus from cheap gasoline prices is fading as pump prices rise. The volume of traffic on U.S. roads was down by … Read moreCOLUMN-U.S. motorists react to rising gasoline prices: Kemp

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Petrobras suspends major asset sales on court decision

Petrobras

July 3, 2018 SAO PAULO (Reuters) – State-run Brazilian oil company Petroleo Brasileiro SA (Petrobras) (PETR4.SA) said on Tuesday it was suspending some asset sales after a Supreme Court justice ruled that privatizations must be approved by Congress. While considering which legal actions to take, Petrobras said in a securities filing it would suspend the … Read morePetrobras suspends major asset sales on court decision

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Here’s Where 3 Million EV Batteries Will Go When They Retire

July 3, 2018, by Bloomberg News Editors (Renewable Energy World) The first batches of batteries from electric and hybrid vehicles are hitting retirement age, yet they aren’t bound for landfills. Instead, they’ll spend their golden years chilling beer at 7-Elevens in Japan, powering car-charging stations in California and storing energy for homes and grids in Europe. … Read moreHere’s Where 3 Million EV Batteries Will Go When They Retire

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Oil Rally Falters After Price Hits $75 for First Time Since 2014

Red Oil Barrels

July 3, 2018, by Jessica Summers (Bloomberg) Crude pared gains after hitting a three-year high in New York as prospects for accelerating supply damped enthusiasm for the rally and traders curbed bullish bets before a U.S. holiday. Futures closed just 0.3 percent higher after surging past $75 a barrel earlier in the session. Oil has … Read moreOil Rally Falters After Price Hits $75 for First Time Since 2014

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Saudi Arabia says ready to pump more oil to balance market

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

July 3, 2018, by Bloomberg (Arabian Business) World’s top crude exporter is prepared to use its spare production capacity, estimated at two million barrels, to help oil market. Saudi Arabia, the world’s top crude exporter, said on Tuesday it was prepared to use its spare production capacity, estimated at two million barrels, to balance the … Read moreSaudi Arabia says ready to pump more oil to balance market

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Noble Energy Executes New Firm Sales Agreement for Delaware Oil Takeaway

Houston, July 03, 2018 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) today announced that it has supplemented its Delaware Basin takeaway position with an additional firm sales agreement which will result in the Company’s crude oil reaching the Gulf Coast.  The five-year agreement provides for firm gross sales of … Read moreNoble Energy Executes New Firm Sales Agreement for Delaware Oil Takeaway

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Marathon Petroleum Corp. and Andeavor announce expiration of HSR Act waiting period

FINDLAY, Ohio and SAN ANTONIO, July 3, 2018 /PRNewswire/ — Marathon Petroleum Corp. (NYSE: MPC) and Andeavor (NYSE: ANDV) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with the proposed transaction whereby MPC would acquire all of Andeavor’s outstanding shares. The parties have also received … Read moreMarathon Petroleum Corp. and Andeavor announce expiration of HSR Act waiting period

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Noble Midstream Partners Announces Changes to the Board of Directors

HOUSTON–(BUSINESS WIRE)–Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream”) today announced the appointment of Thomas (Hodge) H. Walker to its Board of Directors (the “Board”). Mr. Walker was appointed by Noble Energy Inc. (“Noble Energy”) to fill the vacancy left by Charles (Chip) J. Rimer, Senior Vice President, Global Services of Noble Energy, who resigned … Read moreNoble Midstream Partners Announces Changes to the Board of Directors

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Rouhani says U.S. pressure to stop Iranian oil may affect regional exports

July 3, 2018 DUBAI (Reuters) – Iran’s President Hassan Rouhani said regional oil exports may be threatened if the United States tries to pressure its allies to stop buying Iranian crude oil, his website reported on Tuesday. He did not elaborate, and his comments could be open to interpretation. However, they could be seen as … Read moreRouhani says U.S. pressure to stop Iranian oil may affect regional exports

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TransCanada extends W Virginia Leach natgas pipe return to mid-July

July 2 (Reuters) – TransCanada Corp’s Columbia Gas Transmission unit pushed back the date the section of its Leach Xpress natural gas pipeline in West Virginia will resume service to mid-July from an earlier forecast of early July. The pipe was damaged in a blast on June 7. The company changed the restoration date in … Read moreTransCanada extends W Virginia Leach natgas pipe return to mid-July

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Trump’s Oil Tweet Exposed His Lack of Dominance: Liam Denning

Donald Trump

July 2, 2018, by Liam Denning (Bloomberg Opinion) President Donald Trump indulged in a little “energy dominance” this weekend. In the process, he showed who really has the whip hand. Trump’s Saturday morning tweet announcing Saudi Arabia would be raising oil output by two million barrels a day surprised everyone, not least Saudi Arabia’s leadership … Read moreTrump’s Oil Tweet Exposed His Lack of Dominance: Liam Denning

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Time Running Out to Save Iran Deal as Rouhani Heads to Alps

July 2, 2018, by Jonathan Tirone (Bloomberg) Iranian President Hassan Rouhani goes to Switzerland and Austria this week with the landmark nuclear accord negotiated in the two Alpine countries hanging in the balance. The state visits to Bern on Tuesday and Vienna on Wednesday are likely to be Rouhani’s last before President Donald Trump begins … Read moreTime Running Out to Save Iran Deal as Rouhani Heads to Alps

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Saudis Weigh Lure of Higher Oil Prices as U.S. Asks for More

July 3, 2018, by Serene Cheong (Bloomberg) Saudi Arabia will have to navigate a particularly delicate balance between chasing buyers and charging more for its crude when setting monthly prices for its biggest customers this week. On the one hand, OPEC’s biggest producer may be tempted to cut prices to entice Asian buyers and satisfy … Read moreSaudis Weigh Lure of Higher Oil Prices as U.S. Asks for More

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Five Things to Know in World Business Today

July 3, 2018, by Natasha Doff (Bloomberg) Challenged China The yuan rebounded after two Chinese central bank officials vowed to keep it stable, stoking speculation policy makers are prepared to take tougher action to arrest the drop in Asia’s worst performing currency over the past three weeks. Meanwhile, the U.S. launched another salvo in its trade conflict … Read moreFive Things to Know in World Business Today

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LG Electronics Announces Plans For U.S. Solar Panel Assembly Plant

July 2, 2018, by Renewable Energy World Editors LG Electronics announced plans for a new solar module assembly plant in Huntsville, Ala. The new factory will create about 160 new full-time jobs, increasing LG’s Huntsville employment by 60 percent to more than 400 workers. The company is investing $28 million to establish the new factory with two production lines … Read moreLG Electronics Announces Plans For U.S. Solar Panel Assembly Plant

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Solar Developers May Be Able to Avoid Solar Tariffs Under New IRS Tax Credit Guidance

Solar Panel

July 2, 2018, by Jennifer Runyon (Renewable Energy World) At the end of June, the U.S internal revenue service (IRS) clarified the rules surrounding when solar developers are allowed to take the 30 percent Investment Tax Credit (ITC) for solar projects. The 30 percent tax credit is available until the end of 2019, at which … Read moreSolar Developers May Be Able to Avoid Solar Tariffs Under New IRS Tax Credit Guidance

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Oil Refiners in U.S. at Full Throttle With Margins Under Threat

July 2, 2018, by Jessica Summers (Bloomberg) U.S. refiners have returned from maintenance with a vengeance, processing more than 18 million barrels a day of crude and other oils for the first time in the week ended June 22. What does that mean for the markets? Gasoline stockpiles have increased 2.9 percent in June, the … Read moreOil Refiners in U.S. at Full Throttle With Margins Under Threat

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Rhode Island sues major oil companies over climate change

Big Oil

July 2, 2018, by Nate Raymond (Reuters) – Rhode Island on Monday sued several major oil companies, including Exxon Mobil Corp and BP plc, accusing them of contributing to climate change that is damaging infrastructure and coastal communities in the state. The lawsuit announced by Rhode Island Attorney General Peter Kilmartin was the first by … Read moreRhode Island sues major oil companies over climate change

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Saudi, Russian energy ministers agree continued oil market coordination

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

July 3, 2018 DUBAI (Reuters) – Saudi Energy Minister Khalid al-Falih discussed the oil market developments with his Russian counterpart, and both agreed to continue close coordination in the interest of producers, consumers and the global economy, according to a statement by the Saudi Energy Ministry on Tuesday. Falih spoke with Russian Energy Minister Alexander … Read moreSaudi, Russian energy ministers agree continued oil market coordination

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Your 12 Month Targeted Digital Marketing Plan on EnergyNow – Generate Exposure & Leads: Get Your Marketing Kit HERE

Your 12 Month Digital Marketing Plan on EnergyNow EnergyNow uses all of its Marketing Platforms to Promote Your Company (Website, Daily Email, EnergyNow SHOWCASE, Social Media etc.) Marketing on EnergyNow is Designed To: Focus on your company’s target market Consistently get your company marketing exposure for a Whole Year on EnergyNow Effectively market your products and services or publish your … Read moreYour 12 Month Targeted Digital Marketing Plan on EnergyNow – Generate Exposure & Leads: Get Your Marketing Kit HERE

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Trump says Saudis must compensate for drop in Iran oil supply

Donald Trump

July 2, 2018, by Jeff Mason BERKELEY HEIGHTS, N.J. (Reuters) – President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran. Trump said in a tweet on Saturday that Saudi Arabia’s King … Read moreTrump says Saudis must compensate for drop in Iran oil supply

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COLUMN-White House must choose between tough Iran sanctions and moderate gasoline prices: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) By John Kemp LONDON, July 2 (Reuters) – The White House can drive Iran’s oil exports to zero, or it can have moderate U.S. gasoline prices, but it probably cannot have both. The awkward tension between the administration’s foreign policy priority (tough … Read moreCOLUMN-White House must choose between tough Iran sanctions and moderate gasoline prices: Kemp

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CVR Energy Names Melissa M. Buhrig Executive Vice President, General Counsel and Secretary

SUGAR LAND, Texas, July 02, 2018 (GLOBE NEWSWIRE) — CVR Energy, Inc. (NYSE:CVI) today announced that Melissa M. Buhrig has been named executive vice president, general counsel and secretary. Buhrig also will serve as executive vice president, general counsel and secretary for the general partner of CVR Energy’s petroleum subsidiary, CVR Refining, LP (NYSE:CVRR), and … Read moreCVR Energy Names Melissa M. Buhrig Executive Vice President, General Counsel and Secretary

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Enphase Energy Adds Werner Electric to Solar Distributor Network

PETALUMA, Calif., July 02, 2018 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, today announced that Werner Electric has joined its network of solar distributors. Werner Electric is a premier electrical products and services company serving Minnesota, Wisconsin, Iowa, North Dakota, and South … Read moreEnphase Energy Adds Werner Electric to Solar Distributor Network

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EcoStim achieves record production level in June for its U.S. “super-fleet”

HOUSTON, TEXAS, July 02, 2018 (GLOBE NEWSWIRE) — Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) (“EcoStim” or the “Company”) announced today that it has completed a Company record number of frac stages in the month of June 2018 following the implementation of its collaborative “super-fleet” concept. Since combining EcoStim’s best operational personnel and assets, and adopting … Read moreEcoStim achieves record production level in June for its U.S. “super-fleet”

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Solar trade row with China forces REC Silicon to cut U.S. jobs

July 2, 2018, by Gwladys Fouche OSLO (Reuters) – Norway’s REC Silicon (REC.OL), a supplier of silicon materials to the solar industry, will cut around 100 U.S. jobs and take further asset impairments due to a U.S.-China trade war over solar panels, it said on Monday. The company has been unable to sell its goods … Read moreSolar trade row with China forces REC Silicon to cut U.S. jobs

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Panasonic to consider more investment in Tesla’s Gigafactory if asked: executive

July 1, 2018, by Makiko Makiko Yamazaki OSAKA (Reuters) – Panasonic Corp would consider further investment in Tesla Inc’s so-called Gigafactory if requested by the U.S. electric vehicle maker, an executive at the Japanese conglomerate said on Monday. The investment would come on top of the $1.6 billion Panasonic is contributing to the automotive battery plant, … Read morePanasonic to consider more investment in Tesla’s Gigafactory if asked: executive

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As Asia’s economic growth stutters, the region’s oil imports also slow

FILE PHOTO: A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata, India November 27, 2013. REUTERS/Rupak De Chowdhuri/File Photo

July 2, 2018, by Henning Gloystein  SINGAPORE (Reuters) – Asian demand for imported oil is set to slow for a second straight month in July, trade flow data showed on Monday, as economic growth starts to stutter amid an escalating trade dispute with the United States. Preliminary demand figures in Thomson Reuters Eikon, based on ordered … Read moreAs Asia’s economic growth stutters, the region’s oil imports also slow

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Trump Must Be Careful With His Oil Price Wishes: David Fickling

Donald Trump

July 2, 2018, by David Fickling (Bloomberg) If oil prices are “to high,” as President Donald Trump tweeted over the weekend, there’s one obvious culprit – a supply side of the global market that’s looking, um, to tight: Donald J. Trump @realDonaldTrump Just spoke to King Salman of Saudi Arabia and explained to him that, because of the … Read moreTrump Must Be Careful With His Oil Price Wishes: David Fickling

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Trump Tweets, Saudis Scramble: Here’s How the U.S. Steers OPEC

July 2, 2018, by Mohammed Aly Sergie (Bloomberg) The U.S. isn’t a member of OPEC, a cartel that’s anathema to the free-market capitalism of the world’s biggest economy. Yet presidents have long pressured its top producer Saudi Arabia to adjust oil production policies, usually to lower gasoline prices. U.S. President Donald Trump has abandoned quiet … Read moreTrump Tweets, Saudis Scramble: Here’s How the U.S. Steers OPEC

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Five Things to Know in World Business Today

July 2, 2018, by Natasha Doff (Bloomberg) Tariff crunch Sit tight because this week is crunch time for global trade. Unless Trump backs down, the U.S. will impose tariffs on $34 billion of Chinese imports on July 6, many of them parts used in products such as marine engines and power turbines. China will impose countervailing levies the … Read moreFive Things to Know in World Business Today

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Saudi Aramco to create new manufacturing firm with US rig maker NOV

July 1, 2018, by Shayan Shakeel (Arabian Business) Saudi Aramco has signed an agreement to create an on-shore rig and equipment manufacturing and aftermarket facility with US rig making firm National Oilwell Varco (NOV) Inc. Aramco will own 30 percent of the joint venture’s shares, while NOV will own the remaining 70 percent of the … Read moreSaudi Aramco to create new manufacturing firm with US rig maker NOV

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Iran eyes private oil exports to help beat U.S. sanctions

July 1, 2018 DUBAI (Reuters) – Iran will allow private companies to export crude oil, part of a strategy to counter U.S. sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday. Iran is looking at ways to keep exporting oil … Read moreIran eyes private oil exports to help beat U.S. sanctions

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Struggle to control Libyan oil ports adds to global supply worries

June 29, 2018, by Aidan Lewis and Ahmad Ghaddar TUNIS/LONDON (Reuters) – Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have struggled to find … Read moreStruggle to control Libyan oil ports adds to global supply worries

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U.S. biodiesel output falls to 140 million gallons in April: EIA

CHICAGO (Reuters) – U.S. biodiesel production fell to 140 million gallons in April from 147 million gallons a month earlier, the U.S. Energy Information Administration said in a report on Friday. Soybean oil remained the largest biodiesel feedstock, with 520 million lbs used in April, or about 48 percent of the total. In March, soyoil … Read moreU.S. biodiesel output falls to 140 million gallons in April: EIA

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For Cheaper Power, More Secure U.S. Grid, Look Forward, not Back

June 28, 2018, by Chris Brown (Renewable Energy World) On January 8, the Federal Energy Regulatory Commission (FERC) unanimously rejected a plan to subsidize aging power plants in the name of grid resilience and energy security. The proposal, one commissioner observed, “had little, if anything, to do with resilience, and was instead aimed at subsidizing … Read moreFor Cheaper Power, More Secure U.S. Grid, Look Forward, not Back

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Higher Oil Prices Will Cost the Average American Family $440 This Year

June 29, 2018, by Erin Douglas (Bloomberg) The average American household will have $440 less to spend this year due to rising pump prices, putting at risk one-third of the windfall they got from tax cuts. Strong oil prices drove the cost of U.S. gasoline to the highest level in more than three years last … Read moreHigher Oil Prices Will Cost the Average American Family $440 This Year

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Fear and Lithium in Las Vegas? Bet on the Lithium: Liam Denning

June 29, 2018, by Liam Denning (Bloomberg Opinion) As locations go for a conference about lithium, Las Vegas is hard to beat. Aside from the obvious, there’s just something apt about this desert cauldron of greed and fear hosting an industry finely balanced between both. This week’s conference, the 10th hosted by Industrial Minerals, was, … Read moreFear and Lithium in Las Vegas? Bet on the Lithium: Liam Denning

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

Shale Rig

June 29, 2018 (Reuters) – U.S. energy companies this week cut oil rigs for a second straight week, and notched the first monthly fall since March. Drillers cut four oil rigs in the week to June 29, bringing the total count down to 858, General Electric Co’s Baker Hughes energy services firm said in its … Read moreU.S. oil drillers cut rigs for second week in a row: Baker Hughes

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Enbridge shares jump after Minnesota regulators approve Line 3 pipeline route

CALGARY — Enbridge Inc. shares rose by more than seven per cent in Toronto on Friday morning after regulators in Minnesota substantially approved its preferred route through the state to upgrade its deteriorating Line 3 crude oil pipeline. The stock spiked to $47.24 in early trading as word of the routing decision was added to news Thursday that state … Read moreEnbridge shares jump after Minnesota regulators approve Line 3 pipeline route

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Natural Gas Weekly Update Report – June 28, 2018

Natural gas supply and consumption grow significantly from the first half of 2017 to the first half of 2018 Natural gas supply and consumption have grown significantly from the first half of 2017 through the first half of 2018. According to data from PointLogic Energy, total natural gas consumption in the Lower 48 states averaged … Read moreNatural Gas Weekly Update Report – June 28, 2018

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DowDuPont Announces New Members of Agriculture, Materials Science, and Specialty Products Divisions’ Advisory Committees

MIDLAND, Mich. & WILMINGTON, Del.–(BUSINESS WIRE)–DowDuPont (NYSE: DWDP) today announced new members of the Agriculture, Materials Science, and Specialty Products Divisions’ Advisory Committees. Ed Breen, chief executive officer of DowDuPont, said, “The caliber of the individuals we have attracted to join the Advisory Committees for the Agriculture, Materials Science, and Specialty Products Divisions speaks to the importance … Read moreDowDuPont Announces New Members of Agriculture, Materials Science, and Specialty Products Divisions’ Advisory Committees

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Hess Announces Sale of Utica Acreage

NEW YORK–(BUSINESS WIRE)–Hess Corporation (NYSE:HES) today announced that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1. “We continue to focus our portfolio by divesting lower return, … Read moreHess Announces Sale of Utica Acreage

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EQT to Sell Non-Core Huron Acreage for $575 Million Cash

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) (EQT) announced that it has entered into a definitive agreement to sell approximately 2.5 million non-core, net acres in the Huron Play located in Southern Appalachia to Diversified Gas and Oil PLC, for $575 million cash. The transaction also relieves EQT of approximately $200 million of plugging and other liabilities associated with the … Read moreEQT to Sell Non-Core Huron Acreage for $575 Million Cash

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BP, Chevron Pushing Gas as Fossil Fuel Answer to Global Warming

June 28, 2018, by Kevin Crowley, Rachel Adams-Heard and Naureen S. Malik (Bloomberg) To reduce emissions and provide affordable electricity, the world needs to burn more fossil fuels, not less. That’s the message being delivered by the world’s biggest energy companies at the World Gas Conference in Washington this week, where they championed natural gas … Read moreBP, Chevron Pushing Gas as Fossil Fuel Answer to Global Warming

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Iran Is Running Out of Options on Oil

Jun 29, 2018, by Anthony DiPaola and Grant Smith (Bloomberg) Iran’s position in the oil market is looking weaker than ever as a bruising OPEC meeting and tightening net of U.S. sanctions leave it with fewer friends and fleeing customers. Tehran is getting hit from all sides. Washington is telling buyers to stop all purchases … Read moreIran Is Running Out of Options on Oil

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Five Things to Know in World Business Today

June 29, 2018, by Lorcan Roche Kelly (Bloomberg) Dividend boost  More than 20 banks announced how they would reward shareholders following yesterday’s release of the Federal Reserve stress test. JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc., the four biggest lenders in the U.S., said they would increase payouts … Read moreFive Things to Know in World Business Today

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As Mexico oil sector sputters, crime and violence rattle industry towns

June 28, 2018, by Gabriel Stargardter PARAISO, Mexico (Reuters) – Until recently, Edgar Barrera enjoyed a life many Mexicans could only hope for. In a few short years, the 36-year-old bookkeeper rose from handyman to white-collar worker at what seemed to be one of the most stable companies in Latin America: state-owned oil firm Pemex. … Read moreAs Mexico oil sector sputters, crime and violence rattle industry towns

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Supply risks to bolster oil; OPEC unlikely to fill deficit

June 29, 208, by Arpan Varghese and Koustov Samanta (Reuters) – Oil prices look set to stay strong for the rest of this year and in 2019 thanks to supply disruptions and as extra oil from OPEC fails to meet rising demand, a Reuters poll showed on Friday. A survey of 35 economists and analysts … Read moreSupply risks to bolster oil; OPEC unlikely to fill deficit

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Alaska LNG preparing equity offering, open to joint venture

June 28, 2018, by Julie Gordon WASHINGTON (Reuters) – Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of its costly Alaska LNG export terminal and pipeline project, an executive said on Thursday. “We’re going to be putting … Read moreAlaska LNG preparing equity offering, open to joint venture

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Explainer: What will it cost to denuclearize North Korea?

U.S. President Donald Trump and North Korea's leader Kim Jong Un walk during their summit at the Capella Hotel on Sentosa island in Singapore June 12, 2018. Anthony Wallace/Pool via Reuters

June 29, 2018 VIENNA (Reuters) – At a summit in Singapore in early June with U.S. President Donald Trump, North Korean leader Kim Jong-Un pledged to “work toward complete denuclearization of the Korean Peninsula”. Follow-up talks between U.S. Secretary of State Mike Pompeo and North Korean officials are due to be held, and Trump said … Read moreExplainer: What will it cost to denuclearize North Korea?

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U.S. hopes Saudi, Russia can boost oil output to compensate for Iran: Perry

U.S. Energy Chief Rick Perry

June 28, 2018 WASHINGTON (Reuters) – U.S. Energy Secretary Rick Perry said on Thursday that he is confident that Saudi Arabia and Russia can increase their crude oil production to stabilize the world oil market, and compensate for supply losses caused by renewed U.S. sanctions on Iran. “We look at this as an opportunity for … Read moreU.S. hopes Saudi, Russia can boost oil output to compensate for Iran: Perry

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Saudi-Russian axis rules oil markets as Trump fights Iran

June 28, 2018, by Rania El Gamal and Dmitry Zhdannikov DUBAI/LONDON (Reuters) – Iran may be Russia’s ally in the Syrian conflict but when it comes to oil, Tehran’s arch-enemy Saudi Arabia takes precedence – if last week’s OPEC meeting in Vienna is anything to go by. Iran had been pushing hard for oil producers … Read moreSaudi-Russian axis rules oil markets as Trump fights Iran

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Minnesota regulators seem poised to approve Enbridge Line 3 pipeline replacement

ST. PAUL, Minn. — Minnesota regulators appeared ready Thursday to approve Enbridge Inc.’s proposal to replace its aging Line 3 oil pipeline across the northern part of the state, even though a major, controversial question remains unresolved: the line’s route. As the Public Utilities Commission began open deliberations, all five members spoke in support of … Read moreMinnesota regulators seem poised to approve Enbridge Line 3 pipeline replacement

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COLUMN-After OPEC, oil market enters a new era: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2IwJMbP By John Kemp LONDON, June 28 (Reuters) – OPEC is changing fundamentally as power in the oil market shifts towards Saudi Arabia, acting in concert with Russia, while the other members of the organisation are increasingly marginalised. In theory, all … Read moreCOLUMN-After OPEC, oil market enters a new era: Kemp

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Saudi Aramco to signs deal to make onshore oil rigs, equipment

June 28, 2018 DUBAI (Reuters) – Saudi Aramco signed a deal with National Oilwell Varco Inc. (NOV) to form a joint venture to make onshore rigs and equipment in Saudi Arabia, the state-owned Saudi energy firm said. Saudi Aramco will own 30 percent of the venture, while the rest will be owned by NOV, the … Read moreSaudi Aramco to signs deal to make onshore oil rigs, equipment

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TransCanada urges U.S. to help gas pipelines beat green critics

Keystone xl pipeline

June 28, 2018, by Scott DiSavino (Reuters) – The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure, an executive at TransCanada Corp said at a conference this week. Suppliers in the United States, the world’s biggest natural gas producer, … Read moreTransCanada urges U.S. to help gas pipelines beat green critics

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Nigerian oil tanker fire kills nine in commercial capital Lagos

Smoke rises above the cars in fire on a street in Lagos, Nigeria, June 28, 2018 in this picture obtained from social media. RAPID RESPONSE SQUAD/via REUTERS

June 28, 2018, by Angela Ukomadu and Alexis Akwagyiram LAGOS (Reuters) – An oil tanker truck caught fire in Nigeria’s commercial capital Lagos on Thursday, killing nine people and burning out 53 other vehicles, an emergency agency official said. Video seen by Reuters showed vehicles ablaze and thick black smoke billowing across a wide stretch … Read moreNigerian oil tanker fire kills nine in commercial capital Lagos

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Cost of Trump’s Power Plan? Priceless, Like Freedom, Perry Says

June 28, 2018, by Ari Natter (Bloomberg) The Trump administration is crafting a plan to keep old, unprofitable coal and nuclear plants running. The cost? Well, it’s subjective. “It’s not a dollar figure you can count,” Energy Secretary Rick Perry told reporters Thursday on the sidelines of the World Gas Conference in Washington. “You cannot … Read moreCost of Trump’s Power Plan? Priceless, Like Freedom, Perry Says

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One Casualty of Trump’s Tough Iran Stance? U.S. Pump Prices

gas pumps

June 28, 2018, by Stephen Cunningham (Bloomberg) One unintended consequence of Donald Trump’s plan to choke off Iran’s oil exports could be renewed pain at the pump for millions of Americans, a risky political prospect with mid-term elections just months away. With the oil market finely in balance after more than a year of OPEC-led … Read moreOne Casualty of Trump’s Tough Iran Stance? U.S. Pump Prices

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Tips for Trump After Clumsy Dance With OPEC: Meghan O’Sullivan

June 28, 2018, by Meghan L. O’Sullivan (Bloomberg) The world was in suspense a week ago wondering whether OPEC and non-OPEC producers would put more oil on tightening global markets. Turns out: Yes, they will. But, as the story does not end here, it is worth assessing where we are and how we got here. … Read moreTips for Trump After Clumsy Dance With OPEC: Meghan O’Sullivan

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Arizona Public Service Issues RFP to Retrofit Solar Plants with Battery Storage

Solar Panels

June 28, 2018, by Renewable Energy World Editors Arizona Public Service (APS) is looking to equip existing APS solar plants with battery storage and has issued an RFP to add up to 500 megawatts (MW) of energy storage to its system over the next 15 years via battery energy storage. The utility said the batteries will … Read moreArizona Public Service Issues RFP to Retrofit Solar Plants with Battery Storage

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Case Study: Fighting Oilfield Theft With “Osprey Reach” Leads to Arrests at Unstaffed Site

INDUSTRY: Oil and gas CUSTOMER PROFILE: Large midstream company APPLICATION: Unstaffed facility security and theft prevention     CUSTOMER SUCCESS STORY: PROACTIVE SECURITY FOR INDUSTRIAL SITES Osprey Reach with Smart Alerts leads to arrests at unstaffed site. CHALLENGE With rapidly increasing rates of oilfield theft and vandalism, theft prevention has never been more important for secure, … Read moreCase Study: Fighting Oilfield Theft With “Osprey Reach” Leads to Arrests at Unstaffed Site

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Ormat’s Olkaria III Plant 1 Expansion Reaches Commercial Operation, Increasing Complex Capacity to 150 MW

RENO, Nev., June 27, 2018 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE:ORA) announced today that the 11 MW Plant 1 expansion project in the Olkaria III complex in Kenya successfully completed its tests and commenced commercial operation on June 2, 2018. Since 2000, Ormat has developed and expanded the Olkaria III complex in phases and … Read moreOrmat’s Olkaria III Plant 1 Expansion Reaches Commercial Operation, Increasing Complex Capacity to 150 MW

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Mozambique Area 4 Progressing Rovuma LNG Marketing

WASHINGTON–(BUSINESS WIRE)–ExxonMobil and Eni said today that marketing efforts are underway for the Rovuma LNG project, which will produce, liquefy and sell natural gas from the gas fields of the Area 4 block offshore Mozambique. Senior management representatives of the co-venture parties (ExxonMobil, Eni, CNODC, ENH, Kogas and Galp) met today during World Gas Conference … Read moreMozambique Area 4 Progressing Rovuma LNG Marketing

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Sempra Energy to sell U.S. storage, renewable energy assets

June 28, 2018 (Reuters) – U.S. utility Sempra Energy (SRE.N) said on Thursday it plans to sell some of its natural gas storage and renewable energy assets and expects to record a charge between $1.47 billion and $1.55 billion during the second quarter. Earlier this month, activist investors Elliott Management and Bluescape Resources Co, who … Read moreSempra Energy to sell U.S. storage, renewable energy assets

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Marine shipping sector eyes LNG to meet clean fuel rules

June 28, 2018, by Julie Gordon WASHINGTON (Reuters) – With new global emissions standards looming, the marine shipping industry is increasingly looking at liquefied natural gas as alternative to high-sulfur bunker fuel, shipping and energy executives said at a global gas summit this week. Already used to fuel ferry fleets and cruise ships, LNG is … Read moreMarine shipping sector eyes LNG to meet clean fuel rules

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Five Things to Know in World Business Today

June 28, 2018, by Lorcan Roche Kelly (Bloomberg) Summit European Union leaders gather in Brussels for a two-day meeting as the bloc faces a range of challenges from immigration to trans-Atlantic tensions to Brexit. With German Chancellor Angela Merkel beset by growing domestic political pressure to forge EU agreement over border controls, that item is likely to dominate … Read moreFive Things to Know in World Business Today

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America’s About to Miss a Big Obama-Era Climate Goal as Trump Dismantles Policies

US Coal Plant

June 28, 2018, by Jim Efstathiou Jr (Bloomberg) The U.S. will fall short of its commitment to cut greenhouse gases as the Trump administration continues to roll back Obama-era policies, according to a new report. Emissions blamed for global warming are on track to fall between 12 and 20 percent by 2025 from 2005 levels, according to … Read moreAmerica’s About to Miss a Big Obama-Era Climate Goal as Trump Dismantles Policies

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BP to buy electric vehicle charging company Chargemaster

June 28 (Reuters) – BP said on Thursday it would buy UK-based electric vehicle charging company Chargemaster, as it bets on increasing demand for electric cars. BP, an oil and gas company, did not provide a deal value but said that BP Chargemaster would operate as a wholly-owned unit and Chargemaster employees would continue at … Read moreBP to buy electric vehicle charging company Chargemaster

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Iran says Saudi plan to boost oil output ridicules OPEC

June 28, 2018, by Alex Lawler LONDON (Reuters) – Iran criticized Saudi Arabia’s plan to raise oil output and pressure from the United States on Riyadh do so, saying this was in breach of OPEC’s decision last week and belittled the producer group. OPEC and a group of non-OPEC countries agreed on Saturday that they … Read moreIran says Saudi plan to boost oil output ridicules OPEC

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India preparing for cut in oil imports from Iran

FILE PHOTO: A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata, India November 27, 2013. REUTERS/Rupak De Chowdhuri/File Photo

June 28, 2018, by Nidhi Verma NEW DELHI (Reuters) – India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November, two industry sources said, the first sign that New Delhi is responding to a push by the United States to cut trade ties with Iran. … Read moreIndia preparing for cut in oil imports from Iran

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Some Top Oil Buyers Are Thinking About Shunning Iran Oil

June 27, 2018, by Tsuyoshi Inajima, Serene Cheong and Sharon Cho (Bloomberg) At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands. As the American administration piles pressure on its allies to entirely halt purchases of Iranian supplies, Japan’s Fuji Oil Co. and … Read moreSome Top Oil Buyers Are Thinking About Shunning Iran Oil

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An Emerging Shale Oil Producer Is Courting Exxon and Chevron

Gas

June 28, 2018, by Rachel Adams-Heard (Bloomberg) Algeria’s energy industry is open for business. That’s the message the head of the country’s state-owned oil and natural gas company is taking to majors like Exxon Mobil Corp. and Chevron Corp. as Algeria looks to attract more foreign investment to help it tap its rich shale reserves. … Read moreAn Emerging Shale Oil Producer Is Courting Exxon and Chevron

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POSCO DAEWOO Corp. Selects McDermott and BHGE for SURF and Subsea Contract for Myanmar Gas Field Development

HOUSTON–(BUSINESS WIRE)–McDermott International, Inc. (NYSE: MDR) and Baker Hughes, a GE company (NYSE: BHGE), today announced the award of a contract by POSCO DAEWOO Corp. for phase two of the Shwe gas field development offshore Western Myanmar. The McDermott-led consortium took part in a FEED competition in 2017. The successful execution of the FEED followed … Read morePOSCO DAEWOO Corp. Selects McDermott and BHGE for SURF and Subsea Contract for Myanmar Gas Field Development

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Natural gas execs see ‘century of supply’ in U.S. shale

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

June 27, 2018, by Ernest Scheyder WASHINGTON (Reuters) – Natural gas production from U.S. shale fields can keep growing for decades, giving Washington a powerful diplomatic tool to counter the geopolitical influence of other energy exporters such as Russia, industry executives and government officials said at a conference here. Already the world’s largest gas producer, … Read moreNatural gas execs see ‘century of supply’ in U.S. shale

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Canada cannot start work on Trans Mountain pipeline until deal closes: minister

June 27, 2018, by Julie Gordon WASHINGTON (Reuters) – The Canadian government would like to see construction accelerate on the Trans Mountain pipeline expansion, but has no control over decisions to resume or start new work until it takes ownership of the major crude oil pipeline project, Canada’s natural resources minister said. “We think that … Read moreCanada cannot start work on Trans Mountain pipeline until deal closes: minister

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Oil Majors’ Big Legal Fear Is Averted—for Now

June 27, 2018, by Kelly Gilblom (Bloomberg) Oil companies have for now managed to avoid the legal liability of paying potentially billions of dollars for protection against the impact of climate change. But the fight could only just be beginning. A judge this week dismissed lawsuits from the cities of San Francisco and Oakland, California, … Read moreOil Majors’ Big Legal Fear Is Averted—for Now

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Sorry, Iran, China Won’t Save Your Economy: Genieve Abdo

Jun 27, 2018, by Geneive Abdo (Bloomberg Opinion) The Donald Trump administration’s determination to squeeze Iran economically after withdrawing from the nuclear deal is already succeeding on one front: frightening European investors out of making deals with Tehran. Yet Iran’s leadership thinks it has a secret weapon: to use Chinese investment and oil purchases as … Read moreSorry, Iran, China Won’t Save Your Economy: Genieve Abdo

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Mammoth Energy Services, Inc. Announces Pricing of Secondary Common Stock Offering

OKLAHOMA CITY, June 26, 2018 (GLOBE NEWSWIRE) — Mammoth Energy Services, Inc. (Nasdaq:TUSK) (“Mammoth”) announced today the pricing of an underwritten public offering of 4,000,000 shares of its common stock by certain selling stockholders. The underwriters intend to offer the shares from time to time for sale in one or more transactions on the Nasdaq … Read moreMammoth Energy Services, Inc. Announces Pricing of Secondary Common Stock Offering

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Chaparral Energy Prices $300 Million Offering of Senior Notes

OKLAHOMA CITY, June 26, 2018 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (OTCQB:CHPE) announced today it has priced $300 million of 8.750% senior unsecured notes due 2023. The company intends to use the net proceeds from the offering to pay down the outstanding balance of its revolving credit facility and for general corporate purposes. The offering … Read moreChaparral Energy Prices $300 Million Offering of Senior Notes

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Northern Oil and Gas, Inc. Announces Bolt-on Acquisition and Additional Debt Reduction

MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into a definitive agreement to acquire producing assets in the Williston Basin of North Dakota. Separately, Northern has entered into another negotiated exchange agreement with an institutional holder (the “Investor”) of its 8% senior unsecured notes due 2020 (the “Notes”). … Read moreNorthern Oil and Gas, Inc. Announces Bolt-on Acquisition and Additional Debt Reduction

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U.S. EPA proposes higher 2019 biofuels mandate in line with expectations

June 26, 2018 (Reuters) – The U.S. Environmental Protection Agency on Tuesday proposed setting a blending mandate of 19.88 billion gallons for 2019 under the Renewable Fuel Standard (RFS), 3 percent higher from this year’s and in line with expectations. The agency also said it is considering a number of measures to bring some transparency … Read moreU.S. EPA proposes higher 2019 biofuels mandate in line with expectations

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Chevron, Exxon CEOs worry global trade conflict could harm economy

June 26, 2018, by Ernest Scheyder WASHINGTON (Reuters) – The leaders of two of the world’s largest energy companies said on Tuesday they worry a trade conflict between the United States and other nations could destabilize the global economy. U.S. President Donald Trump has in recent months imposed tariffs on steel, aluminum and other imports, … Read moreChevron, Exxon CEOs worry global trade conflict could harm economy

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Iran says removing oil from market by November impossible

June 27, 2018 ANKARA (Reuters) – Removing Iranian oil from the global market by November as called for by the United States is impossible, an Iranian oil official told the semi-official Tasnim news agency on Wednesday. “Iran exports a total of 2.5 million barrels per day of crude and condensate and eliminating it easily and … Read moreIran says removing oil from market by November impossible

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OPEC Supply Buffer Shrinks as It Heeds Call to Pump More Oil

Offshore Oil

June 27, 2018, by Grant Smith (Bloomberg) OPEC is heeding consumers’ calls to pump more crude, but that’s only making the oil market more nervous. The fleeting reassurance that came from Saudi Arabia’s pledge last week to lead a substantial production increase was swept away on Tuesday as tougher U.S. sanctions on Iran shifted focus … Read moreOPEC Supply Buffer Shrinks as It Heeds Call to Pump More Oil

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In the Age of Trump and Putin, Europe Faces Hard Choices on Gas

June 26, 2018, by Naureen S. Malik and Anna Shiryaevskaya (Bloomberg) Europe’s shrinking production of natural gas has made it an enticing target for exporters. It’s also left the region facing hard choices ahead at a time of growing political uncertainty. Imports to the continent are poised to rise almost 20 percent by 2040 from … Read moreIn the Age of Trump and Putin, Europe Faces Hard Choices on Gas

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Shell hands over Iraq’s Majnoon oilfield: oil officials

Shell logo reflection in the mirror

June 27, 2018, by Aref Mohammed BASRA, Iraq (Reuters) – Royal Dutch Shell has exited the Majnoon oilfield in southern Iraq and handed over its operations to the state-run Basra Oil Co., two Iraqi oil officials close to the deal said on Wednesday. Officials from Shell and Basra Oil Co. met on Wednesday to mark … Read moreShell hands over Iraq’s Majnoon oilfield: oil officials

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Five Things to Know in World Business Today

June 27, 2018, by Lorcan Roche Kelly (Bloomberg) Softly, softly Following the intervention from White House trade adviser Peter Navarro on Monday, President Donald Trump added his voice to those trying to defuse concerns over the administration’s plans to hit Chinese investment in U.S. tech. Trump signaled he may take a less confrontational approach, and that any … Read moreFive Things to Know in World Business Today

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U.S., Russian officials discuss sanctions, Russian gas pipeline plans

June 26, 2018, by Richard Valdmanis WASHINGTON (Reuters) – Russian Energy Minister Alexander Novak said on Tuesday he discussed U.S. sanctions on Russia and Moscow’s plan to expand its Nord Stream gas pipeline to Germany, which has irked Washington, in talks with U.S. Treasury and Energy Secretaries. Russia is one of the world’s biggest crude … Read moreU.S., Russian officials discuss sanctions, Russian gas pipeline plans

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U.S. Pressing Allies to End Iran Oil Imports by Nov. 4, Official Says

June 26, 2018, by Nick Wadhams and Javier Blas (Bloomberg) The U.S. is pressing allies to end all imports of Iranian oil by a Nov. 4 deadline and doesn’t want to offer any extensions or waivers to that timeline, a decision that sent oil prices surging on expectations it will tighten energy markets significantly more … Read moreU.S. Pressing Allies to End Iran Oil Imports by Nov. 4, Official Says

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U.S. seeks to export its ‘energy miracle’ even as trade tensions mount

U.S. Energy Chief Rick Perry

By Ernest Scheyder and Scott DiSavino WASHINGTON, June 26 (Reuters) – The administration of President Donald Trump wants to help allies and trade partners replicate the U.S. natural gas and oil production boom by exporting American know-how, U.S. Energy Secretary Rick Perry said on Tuesday, even as trade disputes intensified. “We are bearing witness to … Read moreU.S. seeks to export its ‘energy miracle’ even as trade tensions mount

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Saudi Arabia Is Planning Record Crude Oil Production in July

June 26, 2018, by Javier Blas, Will Kennedy and Wael Mahdi (Bloomberg) Saudi Arabia is planning to pump a record amount of crude in July, embarking on one of its biggest-ever export surges to cool down oil prices, according to people briefed on the country’s output policy. State oil company Saudi Aramco is aiming to … Read moreSaudi Arabia Is Planning Record Crude Oil Production in July

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The U.S. Is Losing Ground in the Race for Energy Efficiency

Energy Industry

June 26, 2018, by Riley Griffin (Bloomberg) Italy and Germany tied for first place in the worldwide energy-efficiency race, according to a biennial international scorecard released on Tuesday by the American Council for an Energy-Efficient Economy. France, the United Kingdom and Japan followed suit. The United States fell, from 8th in 2016, to 10th in the new ranking of the … Read moreThe U.S. Is Losing Ground in the Race for Energy Efficiency

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OPEC Has Your Back. Why Aren’t You Reassured?: Liam Denning

June 26, 2018, by Liam Denning (Bloomberg Opinion) The day after OPEC delivered a statement with all the clarity of a White House press briefing, Saudi Arabia’s energy minister went out of his way to clarify one thing: Consumers can count on the group to deliver. History (and projections) would suggest not to take that at … Read moreOPEC Has Your Back. Why Aren’t You Reassured?: Liam Denning

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A California Startup That Cools With Ice Raises $40 Million

Jun 26, 2018, 7:00:00 AM, by Mark Chediak (Bloomberg) Ice Energy, a California firm that uses chunks of ice to cool buildings, has secured $40 million in financing from private equity group Argo Infrastructure Partners LLC. The bulk of the funding will help pay for a storage project for Edison International’s Southern California Edison utility, Ice … Read moreA California Startup That Cools With Ice Raises $40 Million

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GE Gives Investors a Breakup. That’s a Start: Brooke Sutherland

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

June 26, 2018, by Brooke Sutherland (Bloomberg Opinion) Nearly a year into his tenure, General Electric Co. CEO John Flannery has finally broken the tension between the old GE and the new GE. On Tuesday, the industrial giant delivered its long-awaited breakup plan. No more dribs and drabs; this is the big one. GE will … Read moreGE Gives Investors a Breakup. That’s a Start: Brooke Sutherland

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Shell’s Lori Ryerkerk to Accept Port Bureau’s 2018 Maritime Company of the Year Award

Shell logo reflection in the mirror

HOUSTON–(BUSINESS WIRE)–Lori Ryerkerk, executive vice president of Shell Global Manufacturing, will accept the 2018 Maritime Company of the Year award on behalf of Shell Oil Company at the Greater Houston Port Bureau’s Annual Maritime Dinner on August 18, 2018. A leading executive in the oil manufacturing sector for more than two decades, Ryerkerk is responsible … Read moreShell’s Lori Ryerkerk to Accept Port Bureau’s 2018 Maritime Company of the Year Award

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Kosmos Energy Provides Update on Exploration Drilling Program Offshore Suriname

DALLAS–(BUSINESS WIRE)–Kosmos Energy (NYSE: KOS) (LSE: KOS) announced today that it has completed drilling the Anapai-1A exploration well located in Block 45 offshore Suriname. Anapai-1A was drilled to a total depth of 4,556 meters and was designed to test lower Cretaceous reservoirs in a structural trap on the flank of the basin. The prospect was … Read moreKosmos Energy Provides Update on Exploration Drilling Program Offshore Suriname

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Northern District of California Grants Chevron’s Motion to Dismiss Climate Change Case

SAN RAMON, Calif.–(BUSINESS WIRE)–The U.S. District Court for the Northern District of California has issued a ruling dismissing the climate change lawsuits filed against Chevron Corporation by the cities of San Francisco and Oakland. The court dismissed the complaint as requiring foreign and domestic policy decisions that are outside the proper purview of the courts. … Read moreNorthern District of California Grants Chevron’s Motion to Dismiss Climate Change Case

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China to become top gas importer in 2019 boosted by LNG – IEA

LNG And LPG Operations At Aqaba Port, Jordan

LONDON, June 26 (Reuters) – China will become the world’s top importer of natural gas next year, boosted by liquefied natural gas (LNG) purchases, as its superpower economy grows and weans itself off coal-generated energy, the International Energy Agency said on Tuesday. In its Gas 2018 annual report, the IEA said Chinese demand for natural … Read moreChina to become top gas importer in 2019 boosted by LNG – IEA

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Iran says OPEC agreement did not specify oil production increase

June 26, 2018 LONDON (Reuters) – Iran’s oil minister said that OPEC’s oil output agreement did not specify a production increase and that a figure of 800,000 barrels per day (bpd) was an interpretation by some members of the group. The Organization of the Petroleum Exporting Countries and other top crude producers, meeting in Vienna, … Read moreIran says OPEC agreement did not specify oil production increase

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Trump’s EPA ignored Energy Department calls to limit biofuel waivers

Donald Trump

June 26, 2018, by Jarret Renshaw and Chris Prentice NEW YORK (Reuters) – The Trump administration’s Environmental Protection Agency has consistently ignored recommendations from the Department of Energy to reject or limit waivers to oil refiners seeking exemptions from nation’s biofuels law, according to five sources familiar with the matter. The U.S. Renewable Fuel Standard … Read moreTrump’s EPA ignored Energy Department calls to limit biofuel waivers

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U.S. court dismisses climate change lawsuits against top oil companies

Oil Refinery

June 25, 2018 (Reuters) – A California federal court dismissed climate change lawsuits against five oil companies by the cities of San Francisco and Oakland, saying the complaints required foreign and domestic policy decisions that were outside the purview of courts, Chevron Corp (CVX.N) said on Monday. The cities of San Francisco and Oakland, California … Read moreU.S. court dismisses climate change lawsuits against top oil companies

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Five Things to Know in World Business Today

June 26, 2018, by Lorcan Roche Kelly (Bloomberg) Calming words White House trade adviser Peter Navarro said that a Treasury Department report later this week on American restrictions on foreign investment won’t be as broad as investors fear as he sought to allay a trade standoff. His words came after increasing worries that the world is heading … Read moreFive Things to Know in World Business Today

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Oil-Sands Outage Upends Global Oil Market, Overshadowing OPEC

Saudi Refinery

June 25, 2018, by Robert Tuttle and Kevin Orland (Bloomberg) The shutdown of a key oil-sands facility in Canada is flipping the global oil market on its head and slamming shares of producers that depend on the plant. Just as OPEC and allied producers agreed to pour more oil into global markets, a transformer blast … Read moreOil-Sands Outage Upends Global Oil Market, Overshadowing OPEC

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Trump to Hit Refiners With a Biofuels Boost

June 25, 2018, by Jennifer A. Dlouhy and Mario Parker (Bloomberg) Refiners would have to blend 19.88 billion gallons of biofuels into petroleum next year under an administration proposal set to be unveiled Tuesday, as President Donald Trump tries to strike a balance between two competing constituencies. The Environmental Protection Agency is set to maintain … Read moreTrump to Hit Refiners With a Biofuels Boost

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ExxonMobil mulls ‘multi-billion’ dollar expansion at Singapore refinery

June 26, 2018 SINGAPORE (Reuters) – ExxonMobil said on Tuesday it plans to make a final investment decision in 2019 on what it called a “multi-billion dollar” project that would expand its clean fuel and lubricant output at its Singapore refinery. The project is aimed at increasing the competitiveness of ExxonMobil’s Singapore refining-petrochemical complex, which … Read moreExxonMobil mulls ‘multi-billion’ dollar expansion at Singapore refinery

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Oil producer deal may be short of what’s needed: U.S. energy secretary

U.S. Energy Chief Rick Perry

June 25, 2018 WASHINGTON (Reuters) – U.S. Energy Secretary Rick Perry said on Monday a deal between global oil producers to boost crude output reached last week may not be enough to relieve global oil markets that are stressed by supply constraints. The Organization of the Petroleum Exporting Countries and non-OPEC countries reached an agreement … Read moreOil producer deal may be short of what’s needed: U.S. energy secretary

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U.S. coal miners worry Trump-China trade dispute could hit exports

June 25, 2018, by Valerie Volcovici WASHINGTON (Reuters) – U.S. coal mining companies are worried President Donald Trump’s intensifying trade dispute with China could hurt their booming export business, one of the ailing sector’s most important lifelines, according to industry players. Beijing this month added coal and other energy products to a list of U.S. … Read moreU.S. coal miners worry Trump-China trade dispute could hit exports

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Advent takes over GE distributed power unit for $3.25 billion

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

June 25, 2018, by Alwyn Scott and Arno Schuetze NEW YORK/FRANKFURT (Reuters) – U.S. buyout group Advent agreed to buy General Electric Co’s (GE.N) distributed power unit for $3.25 billion, the companies said on Monday, marking GE’s exit from a growing segment of the power business. GE had put the unit, which makes Jenbacher and … Read moreAdvent takes over GE distributed power unit for $3.25 billion

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COLUMN-What Saudi Arabia does now is key for global crude oil markets: Russell

* Who can and who can’t raise crude output within OPEC: reut.rs/2M8auJY By Clyde Russell LAUNCESTON, Australia, June 25 (Reuters) – If it were possible to boil the crude oil market down to just one determining factor for the coming months, it would be this: What will Saudi Arabia actually do? The Saudis appear to have … Read moreCOLUMN-What Saudi Arabia does now is key for global crude oil markets: Russell

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U.S. court order stops some work on Mountain Valley natural gas pipeline in West Virginia

June 25, 2018 (Reuters) – EQT Midstream Partners will stop construction in West Virginia of parts of its $3.5 billion Mountain Valley natural gas pipeline after a U.S. federal appeals court issued an order last week against a permit, a U.S. regulator and the company said. The pipeline company will not proceed with construction in … Read moreU.S. court order stops some work on Mountain Valley natural gas pipeline in West Virginia

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Shell gives go-ahead to third North Sea oil, gas project in 2018

June 25, 2018, by Ron Bousso and Shadia Nasralla (Bloomberg) Shell’s final investment decision (FID) on Fram follows the green light for the expansion of the Penguins field in January, and the 50-50 joint venture Alligin field in the west of Shetlands area which is operated by BP. The UK North Sea is one of … Read moreShell gives go-ahead to third North Sea oil, gas project in 2018

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Oil-Sands Outage Upends Global Oil Market, Overshadowing OPEC

June 25, 2018, by Robert Tuttle and Kevin Orland (Bloomberg) The shutdown of a key oil-sands facility in Canada is flipping the global oil market on its head and slamming shares of producers that depend on the plant. Just as OPEC and allied producers agreed to pour more oil into global markets, a transformer blast … Read moreOil-Sands Outage Upends Global Oil Market, Overshadowing OPEC

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Aramco CEO Pledges to Meet Oil Demand After OPEC Strikes Deal

June 25, 2018, by Debjit Chakraborty and Rajesh Kumar Singh (Bloomberg) Saudi Arabia’s state oil giant will meet customer demand for its crude after the country’s energy minister cemented a deal to boost global supply, according to Saudi Aramco Chief Executive Officer Amin Nasser. The world’s biggest exporter, officially known as Saudi Arabian Oil Co., … Read moreAramco CEO Pledges to Meet Oil Demand After OPEC Strikes Deal

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Preparing for the Next Big Drought: Sunvapor Receives $1.5M Award from U. S. Department of Energy

LIVERMORE, Calif., June 25, 2018 /PRNewswire/ — Sunvapor, Inc., a company that develops technology solutions to sustainability challenges, announced that it was selected to receive a $1.5 million award from the U.S. Department of Energy Solar Energy Technologies Office (SETO) to advance solar-thermal desalination technologies, which can reduce costs and expand the market for producing … Read morePreparing for the Next Big Drought: Sunvapor Receives $1.5M Award from U. S. Department of Energy

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KBR Awarded PMC Services Contract for Oman LNG’s Power Plant Project

HOUSTON, June 25, 2018 /PRNewswire/ — KBR, Inc. (NYSE: KBR) announced it has been awarded a Project Management Consultancy (PMC) Services contract by Oman Liquefied Natural Gas L.L.C. (Oman LNG) for a new 120 MW gas engine power plant which is aimed to reduce fuel gas consumption and greenhouse gas emissions while maintaining LNG production at … Read moreKBR Awarded PMC Services Contract for Oman LNG’s Power Plant Project

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BHGE Awarded Subsea and Well Completions Equipment Contracts

LONDON & HOUSTON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE: BHGE) has been awarded a substantial contract* from Chevron Australia Pty Ltd. for the supply of subsea production equipment, under a 15-year Master Service Order (MSO), with a second contract for well completion equipment. These technology solutions will enable a second development phase within the Greater … Read moreBHGE Awarded Subsea and Well Completions Equipment Contracts

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COLUMN-Hedge funds on hold in run up to OPEC meeting: Kemp

Oil Tanker

(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2tt9dX9 By John Kemp LONDON, June 25 (Reuters) – Hedge funds left their positions largely unchanged in the run up to last week’s meetings among oil ministers from the Organization of the Petroleum Exporting Countries and its allies. Hedge funds … Read moreCOLUMN-Hedge funds on hold in run up to OPEC meeting: Kemp

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GE nearing deal to sell industrial engines unit to Advent: WSJ

June 24, 2018 (Reuters) – General Electric Co (GE.N) is close to a deal to sell its industrial gas engines business to private equity firm Advent International for $3 billion or more, The Wall Street Journal reported on Sunday, citing people familiar with the matter. A deal could be announced on Monday, the report said. … Read moreGE nearing deal to sell industrial engines unit to Advent: WSJ

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Global energy players converge on Washington as China trade war lurks

June 25, 2018, by Julie Gordon (Reuters) – The world’s biggest oil and gas players are gathering for a summit in Washington D.C. this week that will be overshadowed by the specter of shifting trade patterns due to a trade dispute between the United States and China. The uncertainty comes at a historic moment for … Read moreGlobal energy players converge on Washington as China trade war lurks

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Future of Big Oil Increasingly Shaped by Fate of Global Gas

Big Oil

June 25, 2018, by Kevin Crowley and Kelly Gilblom (Bloomberg) Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable … Read moreFuture of Big Oil Increasingly Shaped by Fate of Global Gas

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Five Things to Know in World Business Today

June 25, 2018, by Lorcan Roche Kelly (Bloomberg) Security issue In the latest blow to trade relations, the Treasury Department will heighten scrutiny of Chinese investments in sensitive U.S. industries, according to eight people familiar with the plans. The administration may use national security rules to create a two-track system for the Committee on Foreign Investments … Read moreFive Things to Know in World Business Today

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OPEC’s Newest Member May Boost Output as Much as 65% This Year

June 25, 2018, by Elie Smith (Bloomberg) The Republic of Congo expects to raise oil production by as much 65 percent this year as two new projects come on stream, Hydrocarbons Minister Jean-Marc Thystere-Tchicaya said. Congo joined OPEC last week and plans to open up its oil industry, which the government says is dominated by … Read moreOPEC’s Newest Member May Boost Output as Much as 65% This Year

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Global Oil Benchmarks Clash in Aftermath of Ambiguous OPEC Pact

Oil Workers

June 25, 2018, by Heesu Lee (Bloomberg) The world’s two most important oil benchmarks are behaving very differently in the aftermath of OPEC’s meeting in Vienna. Brent crude is being pared back by Saudi Arabia’s pledge to boost output after an ambiguous OPEC pact and contradictory statements from other nations spurred a price jump on … Read moreGlobal Oil Benchmarks Clash in Aftermath of Ambiguous OPEC Pact

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Pipeline Construction Management: How to offset the cost of client prequalification and invoicing requirements – Aimsio

For pipeline construction contractors, the demands of keeping up with the multiple prequalification and invoicing requirements mandated by each client is costly and labour-intensive. But, to be eligible to work on lucrative projects, companies must be willing to jump through a few hoops. Furthermore, working for multiple clients often calls for prequalification from multiple contractor … Read morePipeline Construction Management: How to offset the cost of client prequalification and invoicing requirements – Aimsio

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Syncrude Canada crude production offline through July -spokesman

June 24, 2018 Reuters Syncrude Mine Production at Syncrude Canada’s oil sands facility near Fort McMurray, Alberta is offline at least through July, after a power outage this week, a spokesman said on Friday.Syncrude, a joint venture majority owned by Suncor Energy Inc (SU.TO), with minority stakes held by Imperial Oil Ltd (IMO.TO) and others, has … Read moreSyncrude Canada crude production offline through July -spokesman

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Nearly half of Iowa crude oil spill contained, BNSF says

Tanker cars from a freight train carrying crude oil are shown after a derailment along the Rock River south of Doon, Iowa, U.S. in this June 22, 2018 handout still image taken from aerial drone video. Sioux County Sheriff's Office/Handout via REUTERS

June 24, 2018 (Reuters) – Workers have contained nearly half of the crude oil spilled near Rock River in northwest Iowa over the weekend following a freight train derailment on Friday, BNSF Railway Co said. About 100,000 gallons had been hemmed off using booms out of the estimated 230,000 gallons spilled, BNSF said in a … Read moreNearly half of Iowa crude oil spill contained, BNSF says

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Saudis Pledge Decisive Oil Supply Boost to Comfort Consumers

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

June 23, 2018, by Javier Blas, Elena Mazneva, Grant Smith and Laura Hurst (Bloomberg) Saudi Arabia promised to act decisively to keep oil prices under control, signaling a real supply boost approaching 1 million barrels a day is on the way to global markets. “We will do whatever is necessary to keep the market in … Read moreSaudis Pledge Decisive Oil Supply Boost to Comfort Consumers

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Saudis Seek to Keep Oil-Market Control With OPEC Deal Fudge

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

June 23, 2018, by Javier Blas and Jack Farchy (Bloomberg) When Iran’s oil minister stormed out of an OPEC confab on Thursday night, the alliance of producers led by Saudi Arabia and Russia was in danger of losing control of the market. Less than 24 hours later, they had reasserted their authority — for now. … Read moreSaudis Seek to Keep Oil-Market Control With OPEC Deal Fudge

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Shale’s Suffering Indigestion, Not a Heart Attack: Liam Denning

Permian Basin Shale

June 24, 2018, by Liam Denning (Bloomberg Opinion) The Permian basin is the center of shale’s world, whether it fascinates investors or, as today, repels them. The recent selloff has obscured that. The Permian’s denizens are currently victims of their own success. Production of oil and gas has outrun the pipeline capacity to get it … Read moreShale’s Suffering Indigestion, Not a Heart Attack: Liam Denning

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IRS Ruling on U.S. Credit an Unexpected Gift to Solar Developers

Solar panel

June 22, 2018, by Christopher Martin (Bloomberg) The Internal Revenue Service is extending incentives for solar power and other clean energy sources by as long as four years. Developers can claim a 30 percent tax credit for solar projects as long as they prove they’ve started construction by the end of 2019, according to an … Read moreIRS Ruling on U.S. Credit an Unexpected Gift to Solar Developers

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Big Oil eyes U.S. minority groups to build offshore drilling support

June 22, 2018, by Valerie Volcovici WASHINGTON (Reuters) – The largest U.S. oil and gas lobby group is seeking to convince Hispanic and black communities to support the Trump administration’s proposed expansion of offshore drilling, arguing it would create high paying jobs, including for storm-displaced Puerto Ricans. The American Petroleum Institute (API) launched its “Explore … Read moreBig Oil eyes U.S. minority groups to build offshore drilling support

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Oilfield service investors pull back on worries about U.S. crude production

June 22, 2018, by Liz Hampton HOUSTON (Reuters) – Shares of U.S. oilfield service companies have fallen by more than 8 percent in the past month as worries about margins in the shale patch are clouding the sector’s nascent recovery. The Philadelphia SE Oil Service Index, which tracks the 15 largest publicly traded oilfield service … Read moreOilfield service investors pull back on worries about U.S. crude production

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U.S. energy secretary to meet Russia’s oil minister on Tuesday

U.S. Energy Chief Rick Perry

By Timothy Gardner WASHINGTON, June 22 (Reuters) – U.S. Energy Secretary Rick Perry will meet Russia’s oil minister next week in Washington, a person familiar with the situation said on Friday, as the two countries compete to supply global markets with natural gas and crude. Perry will meet Russian Oil Minister Alexander Novak on Tuesday, … Read moreU.S. energy secretary to meet Russia’s oil minister on Tuesday

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Oil jumps as OPEC agrees to modest output hikes

Oil Prices Up

June 22, 2018 Reuters NEW YORK (Reuters) – Oil prices soared on Friday after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. U.S. light crude was up $3.11, or 4.7 percent at $68.65, supported by the OPEC announcement and by an expected drawdown … Read moreOil jumps as OPEC agrees to modest output hikes

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U.S. oil drillers cut rigs for 1st time in 12 weeks

June 22, 2018 Reuters (Reuters) – U.S. energy companies this week cut one oil rig, the first reduction in 12 weeks, after drillers started to slow down the rate of additions this month as pipeline constraints put a damper on future production. The total oil rig count dipped to 862 in the week to June 22, … Read moreU.S. oil drillers cut rigs for 1st time in 12 weeks

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Natural Gas Weekly Update Report – June 21, 2018

Appalachia prices increase as new takeaway capacity supports higher production Natural gas prices at trading points around the Appalachia region have generally increased in the past three years relative to the benchmark Henry Hub in Louisiana, even as production in that area reached new highs. Natural gas production in the Appalachia region averaged 22 billion … Read moreNatural Gas Weekly Update Report – June 21, 2018

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OPEC reaches deal to raise oil output from July

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

June 22, 2018 VIENNA (Reuters) – OPEC agreed on Friday to raise oil production by around 1 million barrels per day from July for the group and its allies, an OPEC source said. The output gain is nominal. The real increase will be smaller because several countries that recently underproduced oil will struggle to return … Read moreOPEC reaches deal to raise oil output from July

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TransAtlantic Petroleum Announces Final Results of Voting at 2018 Annual Meeting of Shareholders

HAMILTON, Bermuda, June 21, 2018 (GLOBE NEWSWIRE) — TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE American:TAT) (the “Company” or “TransAtlantic”) today announced the final results of the voting at its 2018 Annual Meeting of Shareholders (“Annual Meeting”), which was held on June 19, 2018. Annual Meeting Final Voting Results The Company held its Annual Meeting on June … Read moreTransAtlantic Petroleum Announces Final Results of Voting at 2018 Annual Meeting of Shareholders

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Phillips 66 to Announce Second-Quarter Financial Results

HOUSTON–(BUSINESS WIRE)–Phillips 66 (NYSE: PSX) executive management will host a conference call webcast at noon EDT on Friday, July 27, to discuss the company’s second-quarter 2018 financial results, which will be released earlier that day, and provide an update on strategic initiatives. To access the webcast, go to the Phillips 66 Investors site, www.phillips66.com/investors, and click on “Events & … Read morePhillips 66 to Announce Second-Quarter Financial Results

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Russia-Saudi plans for ‘super-OPEC’ could reshape global oil order

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

June 22, 2018, by Bloomberg (Arabian Business) Russia and Saudi Arabia are considering inviting all 24 countries to join a permanent body with its own constitution and secretariat. When the group overseeing the so-called OPEC+ deal met last night, proceedings were dominated by two nations: Saudi Arabia and Russia. It was probably a snapshot of … Read moreRussia-Saudi plans for ‘super-OPEC’ could reshape global oil order

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U.S. prosecutors accuse Texas oil man ‘Frack Master’ of fraud

June 21, 2018, by Nate Raymond (Reuters) – A Texas oil and gas businessman who called himself the “Frack Master” has been charged with securities fraud in connection with a scheme that defrauded investors out of $62.6 million, U.S. prosecutors said on Thursday. Christopher Faulkner, 41, was arrested on Monday at the Los Angeles International … Read moreU.S. prosecutors accuse Texas oil man ‘Frack Master’ of fraud

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COLUMN-Resurgent coal exporters should be wary of blinkered optimism: Russell

Coal Truck

(The opinions expressed here are those of the author, a columnist for Reuters.) By Clyde Russell BRISBANE, June 22 (Reuters) – Coal miners supplying Asia’s rapidly growing economies have plenty to be optimistic about as prices and demand appear robust, but they should be wary of getting caught up in the positive feedback loop that … Read moreCOLUMN-Resurgent coal exporters should be wary of blinkered optimism: Russell

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OPEC agrees modest hike in oil supply after Iran softens stance

June 22, 2018, by Rania El Gamal, Alex Lawler and Shadia Nasralla VIENNA (Reuters) – OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. … Read moreOPEC agrees modest hike in oil supply after Iran softens stance

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Tesla to close a dozen solar facilities in nine states

Tesla Solar Panels

June 21, 2018, by Nichola Groom, Salvador Rodriquez and Kristina Cooke LOS ANGELES/SAN FRANCISCO (Reuters) – Electric car maker Tesla Inc’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and … Read moreTesla to close a dozen solar facilities in nine states

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Five Things to Know in World Business Today

June 22, 2018, by Lorcan Roche Kelly (Bloomberg) Peace plan Some officials in the Trump administration are trying to restart high level talks with China, ahead of the imposition of $34 billion of new tariffs on the country’s goods on July 6, three people familiar with the matter said. Staff of the National Economic Council are … Read moreFive Things to Know in World Business Today

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First new all-electric mine dumps diesel; cuts costs, pollution

A worker walks underground at Goldcorp Inc's Borden all-electric gold mine near Chapleau, Ontario, Canada, June 13, 2018. REUTERS/Chris Wattie

June 21, 2018, by Susan Taylor and Barbara Lewis CHAPLEAU, Ontario/LONDON (Reuters) – Hundreds of feet below thick boreal forest blanketing the Canadian Shield, a squad of near-silent, battery-powered machines are tunneling toward gold in a multimillion-dollar mining experiment to ditch diesel. Goldcorp Inc (G.TO) (GG.N) is building the world’s first new all-electric mine, a … Read moreFirst new all-electric mine dumps diesel; cuts costs, pollution

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More than 20 nations seek lead in setting tougher climate goals

June 21, 2018, by Alister Doyle OSLO (Reuters) – More than 20 nations ranging from Germany, France and Britain to Pacific island states said on Thursday they planned to “lead from the front” in setting new, tougher goals by 2020 to cut greenhouse gas emissions under the Paris climate agreement. They welcomed a decision by … Read moreMore than 20 nations seek lead in setting tougher climate goals

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Oil options show bulls and bears on edge over OPEC

June 21, 2018, by Amanda Cooper LONDON (Reuters) – OPEC appears to be edging toward raising crude oil output at its policy meeting on Friday, but the oil options market shows traders and investors are not betting heavily on that scenario. With just one day to go until the group holds its policy meeting, the … Read moreOil options show bulls and bears on edge over OPEC

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U.S. oil, gas system methane leaks larger than EPA estimates – study

By Timothy Gardner WASHINGTON, June 21 (Reuters) – U.S. oil and gas drilling and related operations give off much more of the powerful greenhouse gas methane than the federal government estimates, wasting about $2 billion of fuel a year, scientists said on Thursday. Methane, the main component of natural gas, is colorless and odorless. It … Read moreU.S. oil, gas system methane leaks larger than EPA estimates – study

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OPEC Output Boost Still Rejected by Iran Before Crucial Talks

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

June 21, 2018, by Golnar Motevalli, Wael Mahdi and Grant Smith (Bloomberg) Iran continued to reject any increase in oil production from OPEC and its allies, casting doubts on Saudi Arabia and Russia’s efforts to get a deal that would aid consumers by alleviating high prices. At talks in Vienna on Thursday, ministers from some … Read moreOPEC Output Boost Still Rejected by Iran Before Crucial Talks

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U.S. Is Out of Sync With the World on Climate, Canada Says

Jun 21, 2018, by Ewa Krukowska and Jonathan Stearns (Bloomberg) Canada has an environmental message for Donald Trump: you can’t stop the global campaign against climate change and you will hurt the U.S. by abandoning the battle. Canadian Environment and Climate Change Minister Catherine McKenna said countries around the world are forging ahead with measures … Read moreU.S. Is Out of Sync With the World on Climate, Canada Says

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Solar Matchmaker Pairing Lenders With Commercial Developers

Solar Panels

June 21, 2018, by Brian Eckhouse (Bloomberg) Open Energy Group Inc. is a solar matchmaker. The New York-based company is introducing an online exchange to pair commercial solar developers with lenders looking to finance projects. It’s already matched $35 million of deals ahead of its formal opening Thursday, and has a goal of $250 million … Read moreSolar Matchmaker Pairing Lenders With Commercial Developers

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Dow, University of Michigan, Delta College Collaborate to Create New Innovation and Education Hub in the Great Lakes Bay Region

MIDLAND, Mich.–(BUSINESS WIRE)–The Dow Chemical Company (Dow), the University of Michigan (U-M) and Delta College (Delta) are collaborating to develop an interdisciplinary innovation and education hub to inspire the workforce of tomorrow and create sustainable pathways that will have a positive impact on the environment and society. “We are bringing together U-M’s recognized leadership in … Read moreDow, University of Michigan, Delta College Collaborate to Create New Innovation and Education Hub in the Great Lakes Bay Region

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First Modules Arrive for the KIPIC Al-Zour Project

IRVING, Texas & KUWAIT CITY–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that the first modules for the Kuwait Integrated Petroleum Industries Company (KIPIC) Al-Zour project have arrived in Kuwait. Fluor is working with its joint venture partners to deliver two engineering, procurement, fabrication and construction packages for key process support units, utilities and infrastructure for … Read moreFirst Modules Arrive for the KIPIC Al-Zour Project

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Illinois Energy Law Lures Northeast Commercial-Industrial Solar Developer

June 21, 2018, by Kari Lydersen (Renewable Energy World) A major developer of large-scale solar in the Northeast is launching operations in Illinois, expecting the state’s new energy law to jumpstart the industry in a way similar to what happened in the company’s home state of Massachusetts. Solect has installed more than 80 MW of … Read moreIllinois Energy Law Lures Northeast Commercial-Industrial Solar Developer

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The Public Health Benefits of Adding Offshore Wind to the Grid

June 21, 2018, by Jonathan Buonocore New plans to build two commercial offshore wind farms near the Massachusetts and Rhode Island coasts have sparked a lot of discussion about the vast potential of this previously untapped source of electricity. But as an environmental health and climate researcher, I’m intrigued by how this gust of offshore … Read moreThe Public Health Benefits of Adding Offshore Wind to the Grid

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Focus on returns now will hurt long-term U.S. shale oil investment: Hess

June 21, 2018, by Ernest Scheyder VIENNA (Reuters) – Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale executive said on Thursday. Shareholders have been pushing for more dividends and buybacks from U.S. shale … Read moreFocus on returns now will hurt long-term U.S. shale oil investment: Hess

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U.S. shale executive pushes OPEC to gradually boost output

June 20, 2018, by Ernest Scheyder VIENNA (Reuters) – OPEC should boost daily output by roughly 1 million barrels over time to keep global crude supply and demand in balance as production dips elsewhere, a leading U.S. shale executive said on Wednesday. U.S. shale producers and the Organization of the Petroleum Exporting Countries have started … Read moreU.S. shale executive pushes OPEC to gradually boost output

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Venezuela says U.S. sanctions hurt oil market stability

June 21, 2018 VIENNA (Reuters) – U.S. sanctions on Venezuela are an attack against the stability of the global oil market, Venezuelan Oil Minister Manuel Quevedo said on Thursday. Venezuela, a member of the Organization of the Petroleum Exporting Countries, and state-run oil firm PDVSA ] face an export crisis due to declining crude output, … Read moreVenezuela says U.S. sanctions hurt oil market stability

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Small U.S. oil producers face output squeeze as pipelines fill

June 20, 2018, by Collin Eaton and Liz Hampton (Reuters) – As pipelines out of the largest U.S. oil field reach capacity in the coming months, further depressing West Texas crude prices, smaller producers will have to slow or shut-in production, according to oil executives. Soaring production in U.S. shale fields has driven output to … Read moreSmall U.S. oil producers face output squeeze as pipelines fill

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OPEC edges closer to raising oil output, Iran’s agreement is key

OPEC Flag

June 21, 2018, by Ahmad Ghaddar, Vladimir Sodalkin and Ernest Scheyder VIENNA (Reuters) – OPEC edged closer on Thursday toward raising oil output, with Iran softening its opposition to an increase and Saudi Arabia warning of supply shortages and price rallies if production remained stable. A production rise of about 1 million barrels per day … Read moreOPEC edges closer to raising oil output, Iran’s agreement is key

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China to reduce U.S. oil imports post-September amid trade spat

June 22, 2018, by Florence Tan and Chen Aizhu SINGAPORE/BEIJING (Reuters) – Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world’s two largest economies, multiple industry sources said. Beijing has put U.S. … Read moreChina to reduce U.S. oil imports post-September amid trade spat

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Saudis Take Oil Consumers’ Side as OPEC Nears Pivotal Talks

Jun 21, 2018  by Elena Mazneva, Francois de Beaupuy and Golnar Motevalli (Bloomberg) With fewer than 24 hours to go before a pivotal meeting, Saudi Arabia urged OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran showed signs of wavering. “The most important thing is the consumers,” Saudi Energy Minister Khalid … Read moreSaudis Take Oil Consumers’ Side as OPEC Nears Pivotal Talks

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Unfracked Oil Wells Growing as Permian Pipeline Scarcity Worsens

June 21, 2018 by Ryan Collins (Bloomberg)  Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The vast pipe networks that haul crude from the Permian Basin are almost completely full thanks to a production … Read moreUnfracked Oil Wells Growing as Permian Pipeline Scarcity Worsens

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Five Things to Know in World Business Today

June 21, 2018 by Lorcan Roche Kelly (Bloomberg)  U.S. trade partners fight back, it’s decision day at the Bank of England, and OPEC inches towards an output deal. Here are some of the things people in markets are talking about today. Trade tensions India became the latest country to hit back at U.S. tariffs when it announced … Read moreFive Things to Know in World Business Today

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Your 12 Month Digital Marketing Plan on EnergyNow – Generate Exposure & Leads

Welcome to Your 12 Month Digital Marketing Plan on EnergyNow EnergyNow uses all of its Marketing Platforms to Promote Your Company (Website, Daily Email, EnergyNow SHOWCASE, Social Media etc.) Marketing on EnergyNow is Designed to: Focus on your company’s target market Consistently get your company marketing exposure for a Whole Year on EnergyNow Effectively market your products and services or … Read moreYour 12 Month Digital Marketing Plan on EnergyNow – Generate Exposure & Leads

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Global Wind Energy Insight: Offshore Going Global

June 20, 2018, by Steve Sawyer (Renewable Energy World) We have all followed with great interest the extraordinary breakthrough in European offshore wind over the past few years. After struggling for a number of years with increasing prices as projects moved further offshore and into deeper waters, the first real breakthrough came in early 2015 … Read moreGlobal Wind Energy Insight: Offshore Going Global

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Saudi Arabia, Iran face off ahead of tense OPEC talks

June 20, 2018, by AFP (Arabian Business) Saudi Arabia insists it will do ‘whatever is needed’ to avoid oil supply shortages, setting the stage for a showdown with archfoe Iran. Saudi Arabia insisted Wednesday it would do “whatever is needed” to avoid oil supply shortages, setting the stage for a showdown with archfoe Iran ahead … Read moreSaudi Arabia, Iran face off ahead of tense OPEC talks

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EU agrees final energy saving, renewables targets

June 20, 2018 BRUSSELS (Reuters) – The European Union on Wednesday finalised new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030. National governments must now draft their own plans for implementing the bloc’s overall climate … Read moreEU agrees final energy saving, renewables targets

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India urges OPEC to boost oil exports, wants sustainable prices

June 20, 2018 VIENNA (Reuters) – India, the world’s third-biggest oil consumer and importer, on Wednesday urged OPEC nations to fill a supply gap and ensure sustainable oil prices as geopolitics affect the output of some producers. The world faces likely lower oil exports from Iran, OPEC’s third-biggest producer, after U.S. President Donald Trump pulled … Read moreIndia urges OPEC to boost oil exports, wants sustainable prices

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EQT Midstream Partners Announces Offering of Senior Notes

PITTSBURGH–(BUSINESS WIRE)–EQT Midstream Partners, LP (NYSE: EQM) (Partnership) today announced its intent to offer, subject to market conditions, three new series of senior unsecured notes (collectively, Notes), in an underwritten public offering, each in an aggregate principal amount to be determined at pricing. Each series of the Notes will be issued pursuant to a new … Read moreEQT Midstream Partners Announces Offering of Senior Notes

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IHS Markit: U.S. Natural Gas Production Could Grow Another 60 Percent over Next 20 Years

WASHINGTON–(BUSINESS WIRE)–A decade since the start of a shale gas revolution that unlocked new supplies and resulted in a “wholesale turnaround” in U.S. production, the overall size of recoverable gas reserves continues to increase and the pace of production growth is only accelerating, a new report by business information provider IHS Markit (Nasdaq: INFO) says. … Read moreIHS Markit: U.S. Natural Gas Production Could Grow Another 60 Percent over Next 20 Years

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Baker Hughes, a GE company Announces Date for Second Quarter 2018 Earnings Release and Webcast

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE: BHGE) will hold a webcast on Friday, July 20, 2018 to discuss the results for the second quarter ending June 30, 2018. The webcast is scheduled to begin at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). A press release announcing the results will be issued … Read moreBaker Hughes, a GE company Announces Date for Second Quarter 2018 Earnings Release and Webcast

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Northern Oil and Gas, Inc. Announces Additional $22.8 Million Stock for Notes Exchange

MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into two additional independent, separately negotiated exchange agreements with institutional holders (the “Investors”) of its 8% senior unsecured notes due 2020 (the “Notes”). Together the new agreements represent a debt reduction of $22,807,000 par value of Notes. Combined with the … Read moreNorthern Oil and Gas, Inc. Announces Additional $22.8 Million Stock for Notes Exchange

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Oil traders ready for musical chairs as China tariffs loom

June 20, 2018, by Devika Krishna Kumar and Ayenat Mersie NEW YORK (Reuters) – Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude. China, which has bought an average 330,000 barrels per day (bpd) of U.S. crude oil … Read moreOil traders ready for musical chairs as China tariffs loom

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Battery Startup Gets Funding to Develop Cobalt-Free Materials

June 20, 2018, by Brian Eckhouse (Bloomberg) Conamix, an Ithaca, New York-based battery-technology startup, raised $2 million from investors including an Exelon Corp.-backed company focused on innovations in energy storage. The Series A funding is part of an $8 million commitment from Volta Energy Technologies and another backer, according to Conamix Chief Executive Officer Charles … Read moreBattery Startup Gets Funding to Develop Cobalt-Free Materials

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Russia Chafes at OPEC Output Limits: How Much Can It Pump?

June 20, 2018, by Jack Farchy and Dina Khrennikova (Bloomberg) The prospect of a deal between OPEC and its allies to increase output is forcing oil traders to grapple with an unfamiliar concept: Russian spare production capacity. Thanks to its unprecedented cooperation with OPEC to cut production, Russia has deliberately idled oil wells for the … Read moreRussia Chafes at OPEC Output Limits: How Much Can It Pump?

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U.S. shale producers warn Chinese tariffs would hit energy exports

June 19, 2018, by Ernest Scheyder and Collin Eaton HOUSTON (Reuters) – China’s proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry’s largest customer, adding new pressure on U.S. crude prices, energy executives and analysts said in interviews this week. China … Read moreU.S. shale producers warn Chinese tariffs would hit energy exports

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Shale Giant Says Permian Oil Faces Shut Ins on Pipe Shortage

June 20, 2018, by Javier Blas (Bloomberg) The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. The worsening bottleneck in the Permian region that straddles west Texas and New Mexico … Read moreShale Giant Says Permian Oil Faces Shut Ins on Pipe Shortage

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Shell sells $1.3 billion of oil and gas assets in Norway, Malaysia

June 20, 2018, by Ron Bousso and Nerijus Adomaitis LONDON/ OSLO (Reuters) – Royal Dutch Shell (RDSa.L) announced the sale on Wednesday of oil and gas assets in Norway and Malaysia for over $1.3 billion, bringing it closer to a target of $30 billion in disposals by year-end. The Anglo-Dutch company agreed to sell to … Read moreShell sells $1.3 billion of oil and gas assets in Norway, Malaysia

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Iran Rejects Compromise as OPEC Heads for Battle in Vienna

June 20, 2018, by Grant Smith, Golnar Motevalli and Nayla Razzouk (Bloomberg) Iran put itself on a collision course with Saudi Arabia at this week’s OPEC meeting, rejecting a potential compromise that would allow a small oil-production increase to appease energy consumers. “I don’t believe in this meeting we can reach an agreement,” Bijan Namdar … Read moreIran Rejects Compromise as OPEC Heads for Battle in Vienna

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OPEC Math Reveals Gap Between Headlines and Real Barrels

Red Oil Barrels

June 19, 2018, by Javier Blas and Jack Farchy (Bloomberg) When OPEC meets on Friday in Vienna to discuss a possible output hike in the second half of the year, there’s likely to be a significant gap between the headline numbers under discussion and the amount of oil that can actually be added to the … Read moreOPEC Math Reveals Gap Between Headlines and Real Barrels

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Exelon, First Solar Bankroll Campaign to Push a Carbon Tax

US Coal Plant

June 19, 2018, by Jennifer A. Dlouhy (Bloomberg) Major energy companies, including the largest U.S. nuclear power generator, are putting millions of dollars into a new political campaign to push for a tax on carbon dioxide emissions — a measure President Donald Trump has said he opposes. Exelon Corp., is giving $1 million toward the … Read moreExelon, First Solar Bankroll Campaign to Push a Carbon Tax

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