Energy News
Trump signs executive order to begin reversing Obama OCS decisions
Fri, 28 Apr 2017 22:01:00 +0100

US President Donald Trump signed an executive order that reverses his predecessor’s Arctic offshore oil and gas leasing ban and directs Interior Sec. Ryan Zinke to allow responsible development of other US offshore areas’ energy resources. Oil and gas trade associations and other business groups immediately hailed the president’s Apr. 28 action. Environmental organizations and California, Oregon, and Washington’s Democratic governors promptly condemned it.

Trimble assumes Stone Energy’s interim CEO post as Welch retires
Fri, 28 Apr 2017 21:56:00 +0100

James M. Trimble has been elected Lafayette, La.-based Stone Energy Corp.’s interim chief executive officer and president, effective immediately. He succeeds David H. Welch, who is retiring.

Discoveries down, but companies know where the oil is
Fri, 28 Apr 2017 21:49:00 +0100

According to an old, half-serious joke, the best place to look for oil is in an oil field.

Energy: Bull vs. bear
Fri, 28 Apr 2017 21:46:00 +0100
The bull/bear debate on energy with Brian Youngberg, Edward Jones oil and gas analyst, and John Kilduff, Again Capital founding partner.
Pemex acquires seismic data for southern Gulf of Mexico
Fri, 28 Apr 2017 20:27:00 +0100

Mexico’s Petroleos Mexicanos (Pemex) will study the Salina del Istmo province in the southern Gulf of Mexico in a multiclient 3D wide azimuth survey covering deep and shallow-water areas near the Cantarell and Ku-Maloob-Zaap reservoirs.

US crude settles at $49.33, posting weekly and monthly losses amid supply concerns
Fri, 28 Apr 2017 19:35:00 +0100
Oil rebounded after dropping to a one-month low previously, prompting investors to buy ahead of a May OPEC meeting.
BHI: US rig count up double digits for 12th time in 15-week hot streak
Fri, 28 Apr 2017 18:41:00 +0100

The US tally of active drilling rigs increased by 13 to 870 during the week ended Apr. 28, marking the 12th double-digit rise during 15 straight weeks of gains, according to Baker Hughes Inc. data.

Court pauses litigation over Obama climate plan Trump is trying to kill
Fri, 28 Apr 2017 18:39:00 +0100
The Trump administration won a legal victory over a climate policy implemented under Barack Obama
Three energy earnings movers
Fri, 28 Apr 2017 18:33:00 +0100
The "Halftime Report" traders weigh in on an three energy-earnings movers in our trader blitz.
Trump signs executive order that could expand offshore energy development
Fri, 28 Apr 2017 18:12:00 +0100
The order instructs the Interior Department to review and revise the Obama administration's plan for federally administered waters.
ExxonMobil: First-quarter earnings reach $4 billion
Fri, 28 Apr 2017 18:02:00 +0100

ExxonMobil Corp. today announced estimated first quarter 2017 earnings of $4 billion compared with $1.8 billion a year earlier. The supermajor attributed the earnings jump to improvements in commodity prices, cost management, and refining operations.

Chevron: First-quarter earnings rebound to $2.7 billion
Fri, 28 Apr 2017 17:53:00 +0100

Chevron Corp. reported earnings of $2.7 billion for this year’s first quarter compared with a loss of $725 million in same quarter in 2016. Included in the quarter was a gain of $600 million from the sale of an upstream asset. Foreign currency effects decreased earnings in this year’s first quarter by $241 million compared with a decrease of $319 million a year earlier.

Group raises its Canadian drilling outlook
Fri, 28 Apr 2017 17:47:00 +0100

Canadian oil and gas drilling is brisker than expected after work seasons in 2015 and 2016 that the Petroleum Services Association of Canada describes as “difficult to say the very least.”

This GOP-backed measure to bail out profitable coal companies could propel a government shutdown
Fri, 28 Apr 2017 17:44:00 +0100
A measure by Rep. Tim Murphy could jeopardize pressure on coal companies to permanently fund retirees' health care, Huff Post reports.
MARKET WATCH: Light, sweet crude price hit 1-month low
Fri, 28 Apr 2017 17:17:00 +0100

Light, sweet crude oil for front-month delivery on the New York Mercantile Exchange declined to its lowest level in a month on Apr. 27 as concerns persisted about an oversupplied global market. But prices ticked upward early Apr. 28 on hopes that members of the Organization of Petroleum Exporting Countries and major non-OPEC oil-producing countries will continue a deal to collectively curtail output.

Exxon wants to make it 'very clear' that it is still obeying the Russia sanctions
Fri, 28 Apr 2017 17:03:00 +0100
An Exxon executive said the company is complying with Russian sanctions after the Treasury Department denied a waiver.
Tesla's real competitors might be in Silicon Valley, not Detroit, says analyst
Fri, 28 Apr 2017 16:33:00 +0100
Tesla's biggest competitors are likely not auto companies, but well-funded tech companies.
Will liberals treat deregulation as a character test, too£
Fri, 28 Apr 2017 14:54:00 +0100

While US President Donald Trump loosens regulatory bindings on business, an icon of the left attributes his election to racial bigotry.

Pipeline sending natural gas from western Canada to Chicago considers expanding capacity
Fri, 28 Apr 2017 14:00:00 +0100
Owners of the Alliance pipeline, one of the longest natural gas pipelines in North America, are in the early stages of assessing interest in expanding its capacity to transport natural gas from western Canada to Chicago, Illinois.
Chevron shares jump about 2% on strong earnings beat
Fri, 28 Apr 2017 13:54:00 +0100
Chevron earned an adjusted $1.23 per share in the first quarter versus expectations for EPS of 86 cents.
Exxon Mobil beats earnings expectations as profits more than double from last year
Fri, 28 Apr 2017 13:29:00 +0100
Exxon Mobil posted profits of 95 a share in the first quarter, compared with analysts' EPS estimates for 85 cents.
Market winners & losers from President Trump's proposed policies
Fri, 28 Apr 2017 13:09:00 +0100
Oppenheimer Funds' Talley Leger says industrials could see the most impact if President Trump manages to push through his pro-growth policies
Oil prices to remain range-bound: Strategist
Fri, 28 Apr 2017 05:32:00 +0100
Daniel Hynes, ANZ, says there's bulls are counting on extended output cuts but bears are focusing on the inventory build concerns.
Cramer Remix: Why Amazon and Alphabet can buck market trends
Fri, 28 Apr 2017 00:16:00 +0100
Jim Cramer explains why these top tech stocks continue to draw investors.
Cramer Remix: Why Amazon and Alphabet can buck market trends
Thu, 27 Apr 2017 23:59:00 +0100
Jim Cramer explains why these top tech stocks continue to draw investors.
Senate Democrats introduce bill to preserve 2017-22 OCS program
Thu, 27 Apr 2017 22:45:00 +0100

US Senate Democrats introduced a bill on Apr. 27 to preserve the 2017-22 Outer Continental Shelf oil and gas program a day before President Donald J. Trump was expected to issue an executive order for it to be reviewed, and a day after congressional Republicans introduced bills that would direct Sec. of the Interior Ryan Zinke to review moratoria and future leasing schedules.

Total sanctions, increases interest in Vaca Muerta development
Thu, 27 Apr 2017 22:26:00 +0100

Total SA has sanctioned development of the first phase of its operated Aguada Pichana Este license in Neuquen on the northwestern tip of Patagonia, part of Argentina’s Vaca Muerta shale region. The group also will increase its interest in the license to 41% from 27.27%.

Cairn unit to operate block off Ireland
Thu, 27 Apr 2017 22:22:00 +0100

Capricorn Oil Ltd., a wholly owned subsidiary of Cairn Energy PLC, has become operator of Licensing Option 16/19 offshore Ireland after acquiring a 70% interest from Europa Oil & Gas (Holdings) PLC.

Dangote lets contract for Lekki integrated complex
Thu, 27 Apr 2017 22:03:00 +0100

Dangote Oil Refining Co. (DORC), a division of Nigerian conglomerate Dangote Industries Ltd. (DIL), has let a contract to Honeywell UOP LLC, a subsidiary of Honeywell International Inc., to provide technology licensing, design services, and critical equipment for its grassroots integrated refining complex now under construction in southwestern Nigeria’s Lekki Free Trade Zone, near the capital of Lagos.

Stewart, McNichol take executive roles at Wood Group
Thu, 27 Apr 2017 21:56:00 +0100

Wood Group has appointed Andrew Stewart as chief executive officer of its asset life cycle solutions (ALCS) business in the Western region and Michele McNichol as executive president, integration. Both moves are effective immediately.

Freed, Bourne named Apache midstream marketing executives
Thu, 27 Apr 2017 21:35:00 +0100

Apache Corp. has appointed two executives to its midstream and marketing team in its Houston office. Brian W. Freed has been named senior vice-president, midstream and marketing, and Robert W. Bourne has been named vice-president, business development, midstream and marketing.

Commodities tomorrow: US production up, crude down
Thu, 27 Apr 2017 20:53:00 +0100
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
EPA chief pulls out of GOP event appearance that could have violated law
Thu, 27 Apr 2017 20:23:00 +0100
EPA chief Scott Pruitt risked running afoul of the Hatch Act by attending an Oklahoma Republican Party fundraiser.
US crude settles at $48.97, tumbling 1.3% on Libya oilfield restart, gasoline weakness
Thu, 27 Apr 2017 19:36:00 +0100
Oil prices fell amid worries about oversupply, but expectations exporters will extend output cuts limited losses.
Global crude oil discoveries plunge to record low, and it's gonna get worse
Thu, 27 Apr 2017 19:05:00 +0100
The International Energy Agency warns that insufficient investment could lead to a tightening of global oil supplies.
Sinopec to buy BP’s interest in SECCO for $1.68 billion
Thu, 27 Apr 2017 18:22:00 +0100

Gaoqiao Petrochemical Co. Ltd., a Shanghai-based, wholly owned subsidiary of China Petroleum & Chemical Corp. (Sinopec), has agreed to acquire BP PLC’s 50% stake in SECCO Petrochemical Co. Ltd. (SECCO) for $1.68 billion.

IEA: Global conventional oil discoveries fell to record low in 2016
Thu, 27 Apr 2017 18:18:00 +0100

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending. Also, the number of conventional resources sanctioned for development last year reached their lowest level in more than 70 years, according to the International Energy Agency. IEA warned that both trends could continue this year.

Eight firms added in Lebanese bid round
Thu, 27 Apr 2017 18:06:00 +0100

The Lebanese Petroleum Administration (LPA) has designated eight more international companies “prequalified” for an offshore licensing round with bids due Sept. 15.

Futures Now: Crude oil gets crushed
Thu, 27 Apr 2017 17:52:00 +0100
The "Futures Now" team discusses the move in crude oil with Jackie DeAngelis.
Pengrowth to sell remaining Swan Hills assets in north-central Alberta
Thu, 27 Apr 2017 17:33:00 +0100

Pengrowth Energy Corp., Calgary, is selling its remaining Swan Hills assets in north-central Alberta for $185 million (Can.).

Anadarko shutting 3,000 wells in Colorado after home explosion
Thu, 27 Apr 2017 17:30:00 +0100

Anadarko Petroleum Corp., Houston, has shut more than 3,000 producing vertical wells, or a total of 13,000 net boe/d of production, in northeast Colorado following a home explosion and fire in Firestone on Apr. 17. Two men were killed in the incident, which is being investigated by the Colorado Oil & Gas Conservation Commission.

Oil prices are tanking, now below $49 a barrel at a 4-week low
Thu, 27 Apr 2017 17:10:00 +0100
Gas prices further deteriorated and the dollar spiked after the European Central Bank's latest interest rate decision.
Congressional Republicans aim bills at presidential OCS lockups
Thu, 27 Apr 2017 17:00:00 +0100

Three Republicans in the 115th Congress—Louisiana’s two senators and a member of the House of Representatives from Virginia—introduced legislation to keep a US president from using the Outer Continental Shelf Lands Act and Antiquities Act to block offshore energy development and production.

Op-Ed: Why Trump's $1 trillion infrastructure plan may be 'dead on arrival'
Thu, 27 Apr 2017 16:27:00 +0100
Trump's $1 trillion infrastructure plan can't work if we don't solve this big problem, says John Boncher.
Statoil selects GE to remove seawater sulfate for Johan Castberg project
Thu, 27 Apr 2017 16:15:00 +0100

Statoil ASA selected a consortium to provide a system to remove seawater sulfate from Injection seawater to protect Statoil’s production wells at the Johan Castberg project in the Barents Sea offshore Norway.

MARKET WATCH: NYMEX, Brent crude prices split direction on mixed inventory
Thu, 27 Apr 2017 16:01:00 +0100

The light, sweet crude oil price for June delivery gained a few cents to settle under $50/bbl on the New York market Apr. 26 while Brent crude oil for June delivery in London dropped modestly to settle under $52/bbl.

Losses for Benchmark crude oil are accelerating
Thu, 27 Apr 2017 15:36:00 +0100
U.S. cruse oil prices broke below $49 a barrel on Thursday, accelerating its losing streak.
Most U.S. nuclear power plants were built between 1970 and 1990
Thu, 27 Apr 2017 14:00:00 +0100
As of 2016, the United States had 99 operating nuclear reactors at 61 plants across the country, with a capacity-weighted average age of 37 years. The oldest operating nuclear reactor in the United States was built in 1969. Watts Bar 2, which entered commercial service in 2016, was the first new reactor added since 1996. An additional four reactors are currently under construction.
EDF Energy Renewables adds three wind farms to UK portfolio
Thu, 27 Apr 2017 12:22:00 +0100
Three new U.K. wind farms are up and running, EDF Energy Renewables has announced.
Need to 'skinny down' infrastructure approval process: Sean McGarvey
Thu, 27 Apr 2017 11:18:00 +0100
Michael Skelly, Clean Line Energy Partners, and Sean McGarvey, North America's Building Trade Unions, discuss what needs to happen to proceed with infrastructure projects in the U.S.
Why gas is so important, part two
Thu, 27 Apr 2017 09:30:00 +0100
Sustainable Energy takes a look at gas and its importance in the planet's energy mix.
Why natural gas is so important, part one
Thu, 27 Apr 2017 09:28:00 +0100
Sustainable Energy takes a look at natural gas.
A huge liquefied natural gas project is being built off the coast of Australia
Thu, 27 Apr 2017 06:38:00 +0100
Australia is home to a vast liquefied natural gas project. Sustainable Energy takes a look.
Will OPEC extend output cuts£
Thu, 27 Apr 2017 05:48:00 +0100
There's a perception that oil markets are flooded due to non-OPEC output but fundamentals show demand will remain strong, says Richard Gorry, JBC Energy Asia.
Cramer Remix: Billions of dollars could be about to flood the stock market
Thu, 27 Apr 2017 00:11:00 +0100
Jim Cramer reviews the impact of President Trump’s proposed tax cuts, and finds one juicy perk.
Cramer Remix: Billions of dollars could be about to flood the stock market
Thu, 27 Apr 2017 00:00:00 +0100
Jim Cramer reviews the impact of President Trump’s proposed tax cuts, and finds one juicy perk.
API, INGAA call on PHMSA to reconsider some recent actions
Wed, 26 Apr 2017 17:58:00 +0100

The US Pipeline & Hazardous Materials Safety Administration should reconsider several rules and procedures it adopted late in the Obama administration, officials from the American Petroleum Institute and Interstate Natural Gas Association of America told a subcommittee of the US House Transportation and Infrastructure Committee in separate written testimony on Apr. 26.

Drilling commences in Egypt’s Al Jahraa field
Wed, 26 Apr 2017 17:49:00 +0100

A two-well drilling program will target the Cretaceous Abu Roash-C reservoir in the fault block immediately south of the Al Jahraa SE-1X discovery in Abu Sennan concession in Egypt, according to partner Rockhopper Exploration PLC, Salisbury, UK.

Cairn-led group to drill wildcat offshore Senegal
Wed, 26 Apr 2017 17:46:00 +0100

A group led by Cairn Energy PLC working offshore Senegal will spud a wildcat in the deepwater Basin Fan play in the coming weeks.

EIA: US crude stockpiles down 3.6 million bbl in third straight weekly drop
Wed, 26 Apr 2017 16:43:00 +0100

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased 3.6 million bbl during the week ended Apr. 21 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report.

DOE to permit Golden Pass to export LNG to non-FTA countries
Wed, 26 Apr 2017 16:37:00 +0100

The US Department of Energy has signed an order authorizing Golden Pass Products LLC to export domestically produced LNG to countries that do not have a free-trade agreement with the US.

ConocoPhillips extends Ensco UK North Sea jack up contract
Wed, 26 Apr 2017 16:22:00 +0100

ConocoPhillips extended its contract for the Ensco 92 jack up in the UK North Sea for 4 years, providing work for the rig until December 2022, Ensco PLC said in an Apr. 24 fleet status report.

MARKET WATCH: NYMEX oil price gains but still settles under $50/bbl
Wed, 26 Apr 2017 15:56:00 +0100

The light, sweet crude oil price for June delivery gained somewhat on the New York market Apr. 25 but still settled below $50/bbl for a third consecutive trading session. US oil prices declined in early Apr. 26 trading pending release of a weekly oil and product inventory report.

Permian Basin oil production and resource assessments continue to increase
Wed, 26 Apr 2017 14:00:00 +0100
Crude oil production in the Permian Basin is expected to increase to an estimated 2.4 million barrels per day (b/d) in May, based on estimates from EIA�s Drilling Productivity Report. Between January 2016 and March 2017, oil production in the Permian Basin has increased in all but three months, even as domestic crude oil prices fell.
NextDecade lets contract, snags investor for Rio Grande LNG project
Tue, 25 Apr 2017 18:47:00 +0100

Privately held NextDecade LLC, The Woodlands, Tex., has let a contract to General Electric International Inc.’s oil and gas division to serve as exclusive equipment supplier for liquefaction trains and associated pipelines to be built as part of subsidiary Rio Grande LNG LLC’s proposed 27 million-tonne/year LNG export terminal in Brownsville, Tex.

China’s Himalaya Energy to buy Chevron Bangladesh companies
Tue, 25 Apr 2017 18:08:00 +0100

Chevron Global Ventures Ltd., a wholly owned subsidiary of Chevron Corp., has reported its intention to sell the shares of its wholly owned indirect subsidiaries operating in Bangladesh to China’s Himalaya Energy Co. Ltd.

European firms commit to financing half of Nord Stream 2 gas pipeline
Tue, 25 Apr 2017 18:03:00 +0100

Five European energy companies have committed to provide long-term financing for 50% of the total cost of the Nord Stream 2 natural gas pipeline project.

Woodside stepping up exploration program offshore Myanmar
Tue, 25 Apr 2017 17:04:00 +0100

Woodside Petroleum Ltd., Perth, plans to drill five wells offshore Myanmar in 2017, one more than originally scheduled, following encouraging results in 2016. Interpretation of seismic data has indicated what the company calls “an additional low-cost exploration target with upside” on Block A-6.

MARKET WATCH: NYMEX oil price drops closer to $49/bbl
Tue, 25 Apr 2017 15:35:00 +0100

The light, sweet crude oil prices for June delivery fell modestly on the New York market Apr. 24 to settle just above $49/bbl while the Brent crude oil price for June delivery also dropped but remained above $51/bbl.

Welch named Johan Energy vice-president, CFO
Tue, 25 Apr 2017 15:27:00 +0100

Patrick Welch has been appointed vice-president and chief financial officer of Jonah Energy LLC, a privately held company formed in 2014 to manage properties in Jonah natural gas field of Wyoming.

Ohio and Pennsylvania increased natural gas production more than other states in 2016
Tue, 25 Apr 2017 14:00:00 +0100
After reaching a record high of 79 billion cubic feet per day (Bcf/d) in 2015, U.S. marketed natural gas production fell to 77 Bcf/d in 2016, the first annual decline since 2005. Texas, the state with the most natural gas production, fell by 2.5 Bcf/d, while Ohio and Pennsylvania each increased by about 1.2 Bcf/d.
Oil pipeline accidents fell 10% in 2016, joint report says
Mon, 24 Apr 2017 22:49:00 +0100

The number of US crude oil and petroleum product pipeline accidents in 2016 fell 10% from the previous year’s level, the American Petroleum Institute and Association of Oil Pipe Lines jointly reported in their 2017-19 Pipeline Safety Excellence Strategic Plan and 2016 Performance Report on Apr. 24.

API lists emissions requirements it would like EPA to review
Mon, 24 Apr 2017 22:30:00 +0100

The American Petroleum Institute said it would like to see the US Environmental Protection Agency review requirements to limit emissions from new oil and gas operations, quotas under the federal Renewable Fuel Standard, and implementation of ground-level ozone controls under National Ambient Air Quality Standards.

Report lists consequences without more gas pipelines in US Northeast
Mon, 24 Apr 2017 20:25:00 +0100

A lack of interstate natural gas pipelines in the US Northeast has led to some of the nation’s highest electricity costs, and the situation will become worse if more are not built, the US Chamber of Commerce’s Institute for 21st Century Energy warned in an Apr. 24 report.

Canada delays methane-emission regulation
Mon, 24 Apr 2017 19:00:00 +0100

The Canadian government is delaying by 3 years the start of a crackdown on methane emissions by the oil and gas industry.

Kashagan production said to be on target
Mon, 24 Apr 2017 18:23:00 +0100

Production at giant Kashagan oil field in the Caspian Sea off Kazakhstan is on track to reach a targeted 370,000 b/d by yearend.

Mnuchin statement rejects ExxonMobil bid for Russia sanctions waiver
Mon, 24 Apr 2017 18:16:00 +0100

The Trump administration will not be issuing waivers to ExxonMobil Corp. and other US companies authorizing oil and gas drilling currently prohibited by sanctions against Russia. US Treasury Sec. Steven T. Mnuchin’s Apr. 21 statement came following reports days earlier that the US multinational oil company sought permission to resume operations in the Black Sea with partner OAO Rosneft.

Iranian licensing stalls as uncertain election approaches
Mon, 24 Apr 2017 18:14:00 +0100
Tension before a May 19 presidential election helps explain another delay in international oil and gas licensing offered under a new contract in Iran.
TAEP: Texas upstream economy enters new expansion cycle
Mon, 24 Apr 2017 18:13:00 +0100
The Texas Alliance of Energy Producers' Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators, recorded its fourth consecutive monthly increase in March, indicating the Texas upstream economy "has embarked upon a new cycle of expansion."
BPCL commissions unit at Mumbai refinery
Mon, 24 Apr 2017 18:12:00 +0100
India's state-owned Bharat Petroleum Corp. Ltd. (BPCL) has completed conversion of the catalytic reforming unit (CRU) at its 12 million-tonne/year Mumbai refinery into a light naphtha isomerization unit as part of the refiner's program to comply with the Indian government's nationwide mandate of producing 100% Bharat Stage 4 (BS 4, or Euro 4-equivalent) fuels, which became effective Apr. 1.
Williams Partners to shed Geismar olefins plant
Mon, 24 Apr 2017 18:10:00 +0100
Williams Partners LP, Tulsa, has entered a deal to sell its indirect ownership interest in the recently rebuilt and expanded Geismar, La., olefins plant and complex to Nova Chemicals Corp., Calgary, (OGJ Online, Sept. 9, 2016).
Parco lets contract for Mid-Country refinery
Mon, 24 Apr 2017 18:08:00 +0100
Pak-Arab Refinery Ltd. (Parco), Karachi, has let a contract to Honeywell UOP LLC and Honeywell Process Solutions (HPS), both divisions of Honeywell International Inc., to provide process technologies and advanced automated controls for a project designed to increase output of cleaner transportation fuels from its 4.5 million-tonne/year Mid-Country refinery at Mahmood Kot, 65 km north of Multan, Pakistan.
Marathon lets contract for Tier 3 compliance works at Texas refineries
Mon, 24 Apr 2017 18:06:00 +0100
Marathon Petroleum Corp. has let a contract to Fluor Corp. to provide engineering and procurement (EP) for a major reconfiguration project involving works at both the 459,000-b/d Galveston Bay and 86,000-b/d Texas City refineries in Texas City, Tex.
Watching Government: Policies, priorities, and patience
Mon, 24 Apr 2017 18:04:00 +0100
Oil and gas association officials were in a peculiar environment as spring belatedly arrived in Washington, DC. Signals from the new administration remained positive, especially compared with those toward the end of Barack Obama's presidency.
More than half of utility-scale solar photovoltaic systems track the sun through the day
Mon, 24 Apr 2017 14:00:00 +0100
The electricity generated by a solar photovoltaic (PV) system depends on the orientation and tilt of the PV panels, and in some cases, its ability to track the sun throughout the day. Because photovoltaic panels operate more efficiently when oriented directly at the sun, some systems use solar-tracking technology to increase electricity generation by rotating the panels along one or two axes.
U.S. nearly doubled rigs drilling for gas since August, but production still lags

The number of rigs drilling for gas has almost doubled since August, but output continues to fall.
Oil supermajors are back: Exxon, Chevron triumph in crude resurgence

Exxon Mobil Corp. and Chevron Corp. easily swept aside analyst estimates as the battered giants of the U.S. oil industry shook off two-and-a-half years of low oil prices and reported surging profits in the first quarter.
OPEC's efforts to cut production continue to battle U.S. output

Oil rose in New York, trimming a monthly decline, as OPEC-led drillers and Russia cite their adherence to an output-reduction deal in the face of a ramp-up in U.S. crude production.
Patterson-UTI Energy reports 22% increase for U.S. rig count in first quarter

Patterson-UTI Energy reported its average rig count in the U.S. increased 22% to 81 rigs during the first quarter of 2017, up from 66 rigs in the fourth quarter of 2016.
Helmerich and Payne announces U.S. contracted land count increases by 41 rigs from December 2016

Helmerich and Payne, Inc. (HandP) announced that its U.S. contracted land rig count increased by 41 rigs from Dec. 31, 2016 to March 31, 2017, and by 73 rigs from Sept. 30, 2016 to March 31, 2017.
Schlumberger contracts with Pemex for multiclient wide-azimuth seismic survey in Campeche Basin

Schlumberger announced today that Petroleos Mexicanos (Pemex) has signed an agreement to license data from the WesternGeco Campeche wide-azimuth (WAZ) multiclient seismic survey in the Salina del Istmo province of the southern Gulf of Mexico.
Retail gasoline prices this summer are expected to be slightly higher than in 2016 (4/12/2017)

The U.S. Energy Information Administration (EIA) forecasts that drivers in the United States will pay an average of $2.46 per gallon (gal) this summer for regular gasoline, according to EIA's Short-Term Energy and Summer Fuels Outlook. The forecast price for summer 2017 (which runs from April through September) is 23 cents/gal higher than the average price last summer, but is still nearly 70 cents/gal below the 2012-2016 summer average (Figure 1). The price increase this summer primarily reflects slightly higher forecast crude oil prices compared with last year. Monthly average gasoline prices are expected to increase from the March price of $2.33/gal to $2.51/gal in July, then fall to $2.43/gal in September. ...
Lukoil continues field facilities construction at North Caspian

Lukoil has deployed two convoys of vessels carrying constructive elements of Phase 2 field development facilities for LUKOIL’s Caspian projects.
Halliburton, Trendsetter, C-Innovations form Gulf of Mexico subsea alliance

Halliburton, Trendsetter Engineering and C-Innovations today announced the companies have formed a strategic alliance to provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore well intervention packages.
New API safety standards developed to enhance OandG industry equipment, operations

The American Petroleum Institute’s Global Industry Services department (API Global) released two new safety standards: API Standard 16AR - Standard for Repair and Remanufacture of Drill-through Equipment and API Standard 18LCM - Product Life Cycle Management System Requirements for the Petroleum and Natural Gas Industries.
PSAC raises Canadian drilling forecast by more than 2,500 wells for 2017

The Petroleum Services Association of Canada (PSAC), in its second update to the 2017 Canadian Drilling Activity Forecast, announced its revision of the forecasted number of wells drilled (rig released) across Canada for 2017 to 6,680 wells.
More Chinese crude oil imports coming from non-OPEC countries (4/5/2017)

China, the world's largest crude oil net importer, increased the share of its crude oil imports from countries outside the Organization of the Petroleum Exporting Countries (OPEC) in 2016. Of the country's 7.6 million barrels per day (b/d) of 2016 crude oil imports, 57% came from OPEC countries, led by Saudi Arabia (13% of total imports), Angola (11%), Iraq (10%), and Iran (8%). Leading non-OPEC suppliers included Russia (14% of total imports), Oman (9%), and Brazil (5%). While total crude oil imports from OPEC exceed those from non-OPEC sources, crude oil from non-OPEC countries made up 65% of the growth in China's imports between 2012 and 2016. Recent Chinese import data, crude oil price spreads, and non-OPEC production trends suggest continued growth in non-OPEC countries' share of China's growing crude oil imports. ...
New pipeline capacity and other infrastructure changes can accommodate increasing Permian crude oil production (4/19/2017)

Increasing crude oil production in the Permian basin of western Texas and eastern New Mexico is filling available pipeline capacity, putting modest downward pressure on West Texas Intermediate (WTI) crude oil priced at Midland, Texas compared with WTI at Cushing, Oklahoma. However, the Midland versus Cushing discount, which recently widened to more than $1 per barrel (b), is unlikely to be either as large or as persistent in 2017 as it was following the rapid increase in Permian production over 2010-14. Pipeline capacity expansions and other market changes now underway appear poised to facilitate the efficient disposition of higher volumes of Permian crude oil. ...
Inflows of gasoline and diesel into the Midwest fall as demand flattens and production grows (4/26/2017)

Over the past 10 years, increased refining activity and flat demand in the Midwest (Petroleum Administration for Defense District (PADD) 2) have allowed PADD 2 refiners to meet a larger share of the regional gasoline and diesel fuel needs. As a result, shipments of gasoline and diesel into the region have declined, while shipments to other regions have increased. Favorable product price spreads, infrastructure changes, and abundant cost-advantaged crude oil have facilitated the shift in net shipment patterns. Despite these changes, the Midwest is still typically a net receiver of gasoline and diesel fuels from other U.S. regions, especially during the summer driving season and refinery maintenance. ...
Eaton develops clamping enclosure design for oil, gas; industrial operations

Power management company Eaton announced that it has developed the first clamping enclosure technology for hazardous areas to help oil and gas and other industrial customers enhance safety and improve productivity.
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