Energy News
Oil markets firm on tighter US market, expected extension of OPEC supply cuts
Thu, 19 Oct 2017 01:02:00 GMT
Oil prices were firm, supported by tensions in the Middle East and lower production in the U.S.
Saudi Arabia has the ultimate power to curb US crude exports to Asia
Wed, 18 Oct 2017 23:31:00 GMT
Fereidun Fesharaki chairman, FGE, says the differential that favors U.S. crude exports to Asia for now is precariously linked to Saudi policies.
Capacity expansion planned for Philippines’ sole naphtha cracker
Wed, 18 Oct 2017 22:07:00 GMT

JG Summit Petrochemicals Group (JGSPG), a wholly owned subsidiary of JG Summit Holdings Inc., has let a contract to Fluor Corp. to provide engineering, procurement, and construction management (EPCM) for the utilities, off sites, and infrastructure for an expansion of JGSPG’s petrochemical complex in Barangay Simlong, Batangas City, Philippines, 120 km south of Metro Manila overlooking Batangas Bay.

DNV: Electricity as energy source will gain on oil, gas by 2050
Wed, 18 Oct 2017 21:12:00 GMT

Electricity will gain ground globally on oil and natural gas by 2050 as its use in vehicles continues to rise and power distribution systems are built in developing countries, an inaugural forecast by DNV GL AS, Oslo, said. But natural gas will be the single biggest energy source by mid-century, despite its supplies peaking in 2035 after surpassing crude oil a year earlier, where supplies will fall in 2028, it added.

Commodities tomorrow: Crude ends up after volatile day
Wed, 18 Oct 2017 20:00:00 GMT
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
ExxonMobil buys Delaware basin crude terminal
Wed, 18 Oct 2017 19:53:00 GMT

ExxonMobil Corp. has acquired a crude oil terminal in Wink, Tex., part of the Delaware basin, from Genesis Energy LP. It will be ExxonMobil’s first Permian terminal to be anchored by its recently acquired Delaware basin acreage.

If Trump gives in to protection demands, it will drive solar prices higher
Wed, 18 Oct 2017 18:14:00 GMT
President Trump should resist the solar industry's request for more protection from competitors, say the Cato Institute's David Boaz.
Iraq urged to improve oil service contracts
Wed, 18 Oct 2017 17:57:00 GMT

To meet plans for oil production and refining capacity, the Iraqi government must improve contracts with international oil companies and attract foreign investment, says Arab Petroleum Investments Corp. (APICORP), Dammam.

Rosneft signs agreements for five blocks in Kurdistan
Wed, 18 Oct 2017 17:46:00 GMT

Rosneft PJSC and the Kurdistan regional government (KRG) have signed production-sharing agreements for five blocks in the region.

5 charts that show how the US shale drilling revolution may have already peaked
Wed, 18 Oct 2017 17:19:00 GMT
Energy data shows a slowdown in rig productivity and drilling time improvements levelling off, Financial Times reports.
Jadestone boosts output from Stage oil field off Western Australia
Wed, 18 Oct 2017 16:48:00 GMT

Singapore-based Jadestone Energy Inc. has reported an average production rate from Stag oil field in licence WA-15-L off Western Australia of more than 3,600 b/d for the 10-day period to Oct. 14.

So far this is Earth's second-warmest year on record
Wed, 18 Oct 2017 16:35:00 GMT
It has been another near-record warm year for the planet, and September was among the five warmest months.
ExxonMobil commissions new polyethylene line at Mont Belvieu
Wed, 18 Oct 2017 16:12:00 GMT

ExxonMobil Chemical Co. has started up production from the first of two 650,000-tonne/year high-performance polyethylene (PE) lines at its plastics plant in Mont Belvieu, Tex.

Ophir signs PSC for Equatorial Guinea offshore block
Wed, 18 Oct 2017 16:05:00 GMT

Ophir Energy PLC, Equatorial Guinea’s Ministry of Mines and Hydrocarbons, and the country’s national oil company GEPetrol have signed a production-sharing contract for Block EG-24 offshore Rio Muni.

EIA reports 5.7 million-bbl decline in US crude stockpiles
Wed, 18 Oct 2017 15:02:00 GMT

For a fourth straight week, US crude oil stockpiles fell while gasoline inventories climbed, data from the US Energy Information Administration indicates.

MARKET WATCH: NYMEX, Brent crude oil prices steady despite Iraq, Iran politics
Wed, 18 Oct 2017 14:49:00 GMT

Crude oil prices held flat on the New York and London markets Oct. 17 as oil investors monitoring political tensions in the Middle East and awaited the release of the weekly US oil and product inventory.

US crude climbs 16 cents to 3-week high, settling at $52.04, as geopolitical tension lends support
Wed, 18 Oct 2017 14:30:00 GMT
Oil prices rose, lifted by a fall in U.S. inventories and tensions in the Middle East.
Iraq oil shipments to Turkey reportedly plunge after standoff with Kurds
Wed, 18 Oct 2017 14:08:00 GMT
Crude flows from Iraq to Turkey reportedly fell by two-thirds after Iraqi forces seized Kurdish-held oil fields.
OPEC reportedly favors 9-month extension to output cut deal in bid to boost oil prices
Wed, 18 Oct 2017 13:23:00 GMT
OPEC members are forming a consensus around extending their output cuts by nine months, Reuters reported
Crude oil and petroleum product exports reach record levels in the first half of 2017
Wed, 18 Oct 2017 13:00:00 GMT
Crude oil exports in the first half of 2017 increased by more than 300,000 barrels per day (b/d) from the first half of 2016 to 784,000 b/d, a 57% increase. Petroleum product exports also grew over the same period. Crude oil and propane exports each reached record highs of 0.9 million b/d, and distillate exports reached a record high of 1.3 million b/d.
Our renewable energy projects don't make us much profit yet, BP's Bob Dudley says
Wed, 18 Oct 2017 12:11:00 GMT
BP CEO Bob Dudley did say that the company's renewable projects are profitable though.
Iraq calls on BP to 'quickly' develop disputed oilfields after seizing areas of Kirkuk
Wed, 18 Oct 2017 11:45:00 GMT
Iraq's oil ministry urged BP to help develop oilfields in the disputed city of Kirkuk on Wednesday.
Khamenei says Iran will 'shred' its nuclear deal if US quits it
Wed, 18 Oct 2017 09:58:00 GMT
Iran's top authority Supreme Leader Ayatollah Ali Khamenei said Iran would not walk out of a nuclear deal and welcomed backing given by its European signatories.
Iran sanctions uncertainty puts major oil companies in ‘wait-and-see’ mode
Wed, 18 Oct 2017 09:56:00 GMT
Iran's deputy oil minister said Tuesday that the country is on the verge of signing deals with major global oil and gas companies.
The world's first floating wind farm has begun production
Wed, 18 Oct 2017 08:39:00 GMT
Hywind Scotland, the world's first floating wind farm, has started to send electricity to the Scottish grid.
Cal Fire continues to probe cause of deadly wildfires despite arson arrest
Tue, 17 Oct 2017 21:36:00 GMT
Cal Fire said it continues to investigate each of the deadly wildfires in Northern California despite an arson arrest.
Bakken oil in line for export to China
Tue, 17 Oct 2017 21:20:00 GMT

Continental Resources Inc. has sold about 1 million bbl of Bakken oil to Atlantic Trading & Marketing Inc. (ATMI), which intends to export the oil to China. Daily sales transactions of 33,500 b/d will take place from Cushing, Okla., beginning in November. ATMI will load China-bound tankers in Texas ports to begin the transport process.

Offshore expertise helping Norway in Barents Sea, official says
Tue, 17 Oct 2017 21:03:00 GMT

More than 5 decades of success off its coast farther south is helping Norway move ahead in seeking additional oil and gas resources in the Barents Sea, a government official indicated on Oct. 17.  

Exxon Mobil fires up huge new Texas plant just two months after Harvey hit the Gulf Coast
Tue, 17 Oct 2017 20:39:00 GMT
Exxon Mobil began production at a new petrochemical plant in Texas, two months after Hurricane Harvey pummeled the area.
PG&E shares spike after suspected wildfires arsonist is arrested in Northern California
Tue, 17 Oct 2017 19:56:00 GMT
California's largest electric utility company has seen its stock drop nearly 18 percent since Oct. 9.
Commodities tomorrow: Higher dollar pressures crude
Tue, 17 Oct 2017 19:47:00 GMT
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
Trump's Iran threat might not pack the same punch as Obama's sanctions
Tue, 17 Oct 2017 19:07:00 GMT
President Trump may find it hard to keep Iran from selling its oil, a proven way to pressure Tehran, analysts warn.
A small firm in Germany has big ambitions in green energy
Tue, 17 Oct 2017 18:18:00 GMT
Germany is as good a place as any other to observe the shake-up that is rolling through the global electricity market, N.Y. Times reports.
Enbridge’s Alberta Clipper capacity increase receives US approval
Tue, 17 Oct 2017 17:47:00 GMT

Enbridge Energy LP received a presidential permit from the US State Department authorizing it to increase transport up to full design capacity of roughly 890,000 b/d across a 3-mile segment of its Line 67 Alberta Clipper crude oil pipeline at the US-Canada border near Neche, ND, for continued shipment to an existing Enbridge terminal in Superior, Wis.

CNOOC’s Huizhou refinery completes 10 million-tpy expansion
Tue, 17 Oct 2017 17:38:00 GMT

CNOOC Oil & Petrochemicals Co. Ltd., the refining arm of China National Offshore Oil Corp. (CNOOC), has commissioned the Phase 2 expansion of subsidiary CNOOC Huizhou Refining & Chemical Co. Ltd.’s (CHRCC) 12 million-tonne/year integrated refining complex at the Daya Bay Economic & Technological Development Zone in Huizhou in China’s Guangdong province.

Honghua Group lets contract for LNG platform in Gulf of Mexico
Tue, 17 Oct 2017 17:35:00 GMT

Honghua Group Ltd. has let a $12-million front-end engineering and design contract to Wood PLC for its LNG platform development in the Gulf of Mexico’s West Delta area.

Nonbinding open season launched for Capline pipeline reversal
Tue, 17 Oct 2017 16:27:00 GMT

Plains All American Pipeline LP, Marathon Petroleum Corp., and BP Oil Pipeline Co. are launching a nonbinding open season to gauge shipper interest in a proposed reversal of their 40-in., 1.2 million-b/d Capline pipeline that transports crude oil from St. James, La., to Patoka, Ill.

Oil Search reaches record production in third quarter
Tue, 17 Oct 2017 16:00:00 GMT

Sydney and Port Moresby company Oil Search Ltd. has notched up its highest ever production volumes during the third quarter, most of it thanks to the rise in output from the ExxonMobil Corp.-operated Papua New Guinea-LNG project.

Attorney who sued PG&E before faults California for history of utility fire disasters
Tue, 17 Oct 2017 15:47:00 GMT
PG&E could be on the hook for up to $6 billion if found liable for the current wildfires, according to a fire attorney.
MARKET WATCH: Middle East political tensions support oil prices
Tue, 17 Oct 2017 15:39:00 GMT

Crude oil prices rose modestly on the New York market Oct. 16 with the December contract settling above $52/bbl on what analysts called continuing political tensions in the Middle East. Crude prices continued to rise Oct. 17.

Iraq takes oil fields from the Kurds, but the conflict still threatens crude flows
Tue, 17 Oct 2017 15:28:00 GMT
Iraqi forces took control of oil fields from the Kurdish regional government, but risks remain high, analysts said.
ChargePoint hires Uber EMEA policy chief as its top Europe exec
Tue, 17 Oct 2017 14:23:00 GMT
Uber faced a year of mounting scandals and regulatory battles after Burghardt signed on last September as policy and communications chief.
GM's Cruise will test self-driving cars in New York in 2018
Tue, 17 Oct 2017 13:59:00 GMT
General Motors plans to add another city to the list of places where it is testing autonomous cars.
These sectors lag in lead up to rate hike
Tue, 17 Oct 2017 12:58:00 GMT
According to Kensho, here are the odds of a December rate hike and the biggest laggards leading up to it.
It will take time for oil markets to rebalance, Total's boss says
Tue, 17 Oct 2017 12:38:00 GMT
Patrick Pouyanne noted that although the market was slowly balancing, investor sentiment was still volatile.
U.S. coal production fell in first half of 2017 after increasing in late 2016
Tue, 17 Oct 2017 12:00:00 GMT
U.S. coal production averaged 192 million short tons (MMst) per quarter in the first half of 2017, a slight decrease from the second half of 2016 but still above levels reached in the first half of 2016. The recent decline in production was a result of weaker demand for steam coal, about half of which is mined in Wyoming and Montana.
Goldman sees US-Iran tensions presenting long-term threat to global oil supply
Tue, 17 Oct 2017 11:39:00 GMT
Goldman Sachs said Tuesday that tensions between the U.S. and Iran posed a long-term threat to global oil supply.
US crude settles at $51.88, barely changed after Iraq conflict sends oil prices on wild ride
Tue, 17 Oct 2017 05:51:00 GMT
Oil prices ended Tuesday's session flat after a volatile day driven by concerns over clashes in Iraq.
COGA, API council jointly sue City of Thornton over new regulations
Mon, 16 Oct 2017 21:05:00 GMT

The Colorado Oil & Gas Association (COGA) and the American Petroleum Institute’s Colorado Petroleum Council (CPC) jointly sued the City of Thornton on Oct. 10 over new regulations that the trade associations said could hurt jobs, raise energy costs to Colorado consumers, and hurt the state’s economy.

Pruitt issues directive aimed at curbing ‘sue-and-settle’ litigation
Mon, 16 Oct 2017 20:58:00 GMT

Declaring that “the days of regulation through litigation are over,” US Environmental Protection Agency Administrator E. Scott Pruitt issued a directive on Oct. 16 aimed at increasing public participation and transparency in consent decrees and settlement agreements.

Dow inches closer to 23K
Mon, 16 Oct 2017 19:59:00 GMT
CNBC's Wilfred Frost and Seema Mody discuss the market at the end of the trading day.
EIA: Major US onshore regions’ oil output to rise 81,000 b/d in November
Mon, 16 Oct 2017 19:47:00 GMT

Crude oil production from the major US onshore regions is forecast to increase 81,000 b/d month-over-month in November to 6.12 million b/d, the US Energy Information Administration said in its monthly Drilling Productivity Report.

Commodities tomorrow: Iraqi-Kurd conflict a red flag
Mon, 16 Oct 2017 19:10:00 GMT
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
US FERC approves certificate for proposed Atlantic Coast gas pipeline
Mon, 16 Oct 2017 18:45:00 GMT

The US Federal Energy Regulatory Commission has approved a certificate of public convenience and necessity for the proposed Atlantic Coast interstate natural gas pipeline project.

Iraq reclaims Kirkuk in crucial oil region
Mon, 16 Oct 2017 17:18:00 GMT

Oil supply from northern Iraq came under new jeopardy Oct. 15 as Iraqi military troops reclaimed Kirkuk from Peshmerga forces of the Kurdistan Regional Government (KRG).

Agencies responding to Lake Pontchartrain platform explosion
Mon, 16 Oct 2017 16:49:00 GMT

US federal, state, and local agencies continued their response on Oct. 16 to an explosion on a natural gas platform operated by New Orleans-based Clovelly Oil Co. LLC on Lake Pontchartrain near Kenner, La.

LLOG infield line ruptures offshore in Mississippi Canyon
Mon, 16 Oct 2017 16:43:00 GMT

LLOG Exploration Offshore LLC reported a spill of 7,950-9,350 bbl of crude oil caused by a fracture in an infield line leading from Mississippi Canyon Block 209 Well No. 1 to a seafloor manifold in the Gulf of Mexico.

In controversy over Energy East demise, balance is elusive
Mon, 16 Oct 2017 16:31:00 GMT
In controversy following TransCanada PipeLines Ltd.'s scrapping of the planned Energy East Pipeline, balance is elusive.
MEI: Oil prices projected to recover after late-2020
Mon, 16 Oct 2017 16:30:00 GMT
Based on a "lower-for-longer" base-case scenario, global oil prices will remain in the $50-60/bbl range until late 2020 due to increasing supply that breaks even at $50/bbl, according to the most recent global oil supply and demand outlook from McKinsey Energy Insights (MEI).
Energy groups ask FERC to move carefully on proposed resiliency rule
Mon, 16 Oct 2017 16:29:00 GMT
Eleven energy associations including the American Petroleum Institute, Interstate Natural Gas Association, and Natural Gas Supply Association petitioned the US Federal Energy Regulatory Commission on Oct. 2 to use a deliberate process as it considers a proposed rulemaking aimed at improving the domestic electricity grid's reliability and efficiency.
BLM proposes suspending implementation of venting and flaring rule
Mon, 16 Oct 2017 16:27:00 GMT
The US Bureau of Land Management proposed a temporary suspension or delay of certain requirements in its 2016 oil and gas methane venting and flaring rule until Jan. 27, 2019. Comments on the proposal, which is scheduled to appear in the Oct. 5 Federal Register, will be accepted through Nov. 7.
Watching Government: An unsettled issue reappears
Mon, 16 Oct 2017 16:25:00 GMT
The greater sage grouse is back on the US western natural resources issues screen. That's probably because it never completely left.
BLM may consider amending greater sage grouse conservation plans
Mon, 16 Oct 2017 16:24:00 GMT
The US Bureau of Land Management intends to consider amending some, all, or none of its 2015 land use conservation plans to protect the greater sage grouse, the US Department of the Interior agency reported in an Oct. 5 notice of intent.
US Treasury calls for repeal of Dodd-Frank Section 1504
Mon, 16 Oct 2017 16:22:00 GMT
The US Department of the Treasury called for the repeal of the provision in the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act that requires publicly traded US oil, gas, and other extraction industries to report payments to foreign governments.
TransCanada kills Energy East crude line
Mon, 16 Oct 2017 16:21:00 GMT
TransCanada PipeLines Ltd. has ended plans for the Energy East Pipeline, which would have carried Alberta crude oil to the Atlantic, and the Eastern Mainline gas pipeline in Ontario.
Committee sends Elliott's nomination to lead PHMSA to Senate floor
Mon, 16 Oct 2017 16:19:00 GMT
The US Senate Commerce, Science, and Transportation Committee has approved Howard R. Elliott's nomination to be the US Pipeline & Hazardous Materials Safety Administration's director by voice vote on Oct. 4, and sent it to the full Senate for final confirmation.
Railroads could improve volatile liquids safety regime, study finds
Mon, 16 Oct 2017 16:12:00 GMT

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Forum: US LNG may play part in South American countries' plans
Mon, 16 Oct 2017 16:10:00 GMT
US LNG exports could play an important role in several South American countries' future energy strategies, speakers indicated during an Oct. 5 discussion at the Atlantic Council in Washington, DC. But the countries' governments also will be working out where private entities might have larger roles in operations where state-run entities previously have been dominant, they added.
Coyle to lead Ineos’ shale business
Mon, 16 Oct 2017 16:09:00 GMT

Ron Coyle will head Ineos AG’s shale business in time to oversee the drilling of its first UK gas wells.

Repealing a mistake
Mon, 16 Oct 2017 16:09:00 GMT
Congress should finish what the Environmental Protection Agency has begun by proposing repeal of the US Clean Power Plan.
Contractor HSE targets
Mon, 16 Oct 2017 16:06:00 GMT
Last year the International Pipe Line & Offshore Contractors Association's (IPLOCA) Health, Safety, and Environment (HSE) Committee adopted 2020 targets for key health and safety performance indicators as part of an effort to better define needed actions.
ADNOC unifies brands of operating units
Mon, 16 Oct 2017 15:49:00 GMT

Abu Dhabi National Oil Co. is unifying the brands of its many operating units.

MARKET WATCH: NYMEX gains on concerns about Middle East
Mon, 16 Oct 2017 14:46:00 GMT

The crude oil contract for November delivery gained nearly $1 on the New York market Oct. 13 to settle above $51/bbl and rose above $52/bbl in early trading Oct. 16, which analysts attributed to tensions about US policy in the Middle East.

US House considers moving federal onshore oil, gas oversight to states
Mon, 16 Oct 2017 14:26:00 GMT

A US House Natural Resources subcommittee discussed a proposal that would allow the US Interior secretary to delegate authority to regulate onshore oil and gas activity on federally managed lands to states with established, effective programs. Republicans argued that the legislation was overdue, while Democrats strongly opposed it.

U.S. crude oil production expected to increase through end of 2017, setting up record 2018
Mon, 16 Oct 2017 12:00:00 GMT
EIA forecasts that U.S crude oil production will average 9.4 million barrels per day (b/d) in the second half of 2017, 340,000 b/d more than in the first half of 2017. Production in 2018 is expected to average 9.9 million b/d, surpassing the previous high of 9.6 million b/d set in 1970, based on projections in EIAÂ’s "Short-Term Energy Outlook".
OGJ Newsletter
Mon, 16 Oct 2017 05:00:00 GMT

International news for oil and gas professionals

World won’t meet temperature goal just by cutting CO2
Fri, 13 Oct 2017 21:22:00 GMT

Institutions shunning oil and gas ignore problems of feasibility in the management of global average temperature.

Lebanon bid round draws two bids, one consortium
Fri, 13 Oct 2017 19:24:00 GMT

Despite Lebanon’s intent to award four of five blocks in its inaugural offshore bid round, Energy and Water Minister Cesar Abi Khalil said the round had received two bids to operate the offshore gas blocks, according to the Lebanese local press, The Daily Star.

Glencore to enter South African refining business
Fri, 13 Oct 2017 19:06:00 GMT

Glencore PLC, Baar, Switzerland, has entered a deal to acquire Chevron Corp.’s majority ownership in Chevron South Africa (Pty.) Ltd., which operates a 110,000-b/d refinery at Milnerton, in Cape Town, South Africa, as well the entirety of Chevon’s interest in downstream assets in Botswana.

US rig count drops again, but drilling growth still seen
Fri, 13 Oct 2017 18:08:00 GMT

The US rig count during the week ended Oct. 13 declined for the eighth time in 11 weeks. But forecasters continued to see growth in both drilling and production in the coming months and years supported in part by steadier crude oil prices.

UK outlines spending on electric vehicles
Fri, 13 Oct 2017 17:56:00 GMT

The UK government will spend £1 billion to support adoption of ultralow-emission vehicles (ULEVs) in its campaign to end the sale of new vehicles powered by gasoline and diesel by 2040.

Turkey’s Tupras reports explosion at Izmir refinery
Fri, 13 Oct 2017 16:27:00 GMT

Turkish Petroleum Refineries Corp. (Tupras) is investigating an explosion that occurred on Oct. 11 at its 11 million-tonne/year Aliaga refinery in Turkey’s western province of Izmir.

Cheniere reaches near completion of Sabine Pass Train 4
Fri, 13 Oct 2017 16:17:00 GMT

Cheniere Energy Partners LP reported it has reached “substantial completion” of Train 4 of the Sabine Pass liquefaction project in Cameron Parish, La.

Spark and dark spreads indicate profitability of natural gas, coal power plants
Fri, 13 Oct 2017 12:00:00 GMT
Relative profits for some natural gas- and coal-fired generators in several Midwestern and Mid-Atlantic states may have decreased since 2016 because of higher natural gas and coal prices and lower wholesale electricity prices. A common measure of profitability for power plants within a region is the difference between their input fuel costs, such as the cost of coal or natural gas, and their wholesale power price.
Energy-related carbon dioxide emissions expected to fall in 2017 but rise in 2018
Thu, 12 Oct 2017 12:00:00 GMT
Energy-related carbon dioxide (CO2) emissions fell in both 2015 and 2016, and they are expected to fall again in 2017, based on forecasts in EIAÂ’s Short-Term Energy Outlook. However, EIA forecasts a 2.2% increase in energy-related CO2 emissions in 2018.
U.S. heating oil expenditures are expected to increase this winter but remain below recent average (10/18/2017)

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Permian Basin expected to drive fourth quarter U.S crude oil production increases (10/12/2017)

In its Short-Term Energy Outlook (STEO) update released this week, EIA forecasts that U.S crude oil production will average 9.4 million barrels per day (b/d) in the second half of 2017, 340,000 b/d more than in the first half of 2017. ...
Propane supply for Midwest markets appears normal as heating season begins (10/4/2017)

The first week of October marks the start of the winter heating season. Propane inventories in the Midwest, Petroleum Administration for Defense District (PADD) 2, have increased in the past few weeks to reach levels near the five-year average (normal). However, the process and timing of inventories reaching their normal levels this year was unusual, likely because of disruptions on the Gulf Coast related to Hurricane Harvey. ...
Crude oil and petroleum product exports reach record levels in the first half of 2017 (9/27/2017)

Crude oil exports in the first half of 2017 increased by more than 300,000 barrels per day (b/d) from the first half of 2016, a 57% increase. Petroleum product exports grew over the same period as well. Crude oil and propane exports each reached record highs of 0.9 million b/d, and distillate exports reached a record of 1.3 million b/d. ...
ExxonMobil acquires crude oil terminal to serve growing Permian production

ExxonMobil Corporation announced today that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP. The terminal is located in the rapidly growing Delaware basin, part of Permian basin, one of the most prolific plays in the U.S.
Emerson agrees to acquire Paradigm for $510 million

Emerson has agreed to acquire Paradigm, a leading provider of software solutions for the oil and gas industry, for a purchase price of $510 million, reflecting a multiple of 13 times expected 2017 earnings before interest, tax, depreciation and amortization.
Providence Resources completes Porcupine basin farm-in with Total

Providence Resources, the Irish based Oil and Gas Exploration Company, provides an update on Licensing Option (LO) 16/27. Providence has confirmed that the agreed farm-in by Total EandP Ireland B.V., a wholly owned subsidiary of Total S.A. has now completed.
Apache Corp. provides update on Alpine High

Apache Corp. has announced steady progress at Alpine High since revealing the discovery last year.
Pioneer announces 11% production increase from Spraberry/Wolfcamp

Pioneer Natural Resources Company has announced that production for the third quarter of 2017 was 276,000 boed, an increase of 17,000 boed, or 6% from the second quarter of 2017.
Petrofac awarded Iraq PMC contract from PetroChina

Petrofac has been awarded a contract, valued at around $30 million, to undertake Project Management Consultancy (PMC) services for the Halfaya Contract Area (Halfaya) in southern Iraq.
China is about to do for global gas demand what it did for oil

China is in a “golden age” for natural gas that will make it the world’s biggest user of the fuel sometime between 2040 and 2050, according to analysts at Sanford C. Bernstein and Co.
Oil rises on demand signs after Goldman flags geopolitical risks

Oil extended gains as signs of declining U.S. stockpiles pointed to healthy demand while investors weighed disruptions to supply because of global geopolitical tensions.
Saudi oil minister says full Aramco IPO is on track for 2018

Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of its state oil company in 2018, Oil Minister Khalid Al-Falih said Tuesday.
Republicans may use budget to open Arctic, Atlantic to oil rigs

Congressional Republicans have found a way to use the federal budget to open the Arctic National Wildlife Refuge to oil drilling -- and they don’t plan on stopping there.
IEA: Market flexibility improving thanks to LNG, but gas security remains a concern

While gas markets are currently well supplied, the transformation of natural gas markets from regional systems to more globalized and interdependent markets is creating new security challenges, according to the International Energy Agency's latest assessment of global gas security.
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