Energy News
Natural gas-fired power plants lead electric capacity additions in Mexico
Tue, 24 Jan 2017 13:00:00 +0000
Natural gas is Mexico�s largest source of electricity generation, accounting for 54% of the country�s generation in 2015, up from 34% in 2005.
Takreer begins restart of Ruwais refinery
Fri, 20 Jan 2017 20:44:00 +0000

Abu Dhabi Oil Refinery Co. (Takreer), the refining arm of state-owned Abu Dhabi National Oil Co. (ADNOC), is restarting operations at the recently shuttered 417,000-b/d West plant of its more than 800,000-b/d Ruwais refining complex in the UAE following an early January fire.

Oil settles up 2% ahead of producers' compliance meeting, natgas slides 4.9% on weather forecasts
Fri, 20 Jan 2017 19:33:00 +0000
Oil producers will establish a mechanism to verify they are sticking to a deal to reduce output at a weekend meeting.
BHI: US rig count records largest increase since 2011
Fri, 20 Jan 2017 19:07:00 +0000

The US rig count has posted its largest increase since the beginning of the shale oil and gas boom.

White House releases America First energy plan following inauguration
Fri, 20 Jan 2017 19:00:00 +0000

The White House released an energy plan following Donald J. Trump’s inauguration as the 45th US president in which he promised to put America and its people first. “To all Americans, hear these words: You will never be ignored again,” Trump said in his Jan. 20 inauguration address.

Indonesia changes production-sharing terms
Fri, 20 Jan 2017 18:57:00 +0000

The government of Indonesia has implemented new production-sharing terms for oil and natural gas.

The White House website's page on climate change just disappeared
Fri, 20 Jan 2017 18:49:00 +0000
References to climate change were removed from the White House website immediately after Donald Trump took office.
Now that Trump is president, let's talk about Vladimir Putin
Fri, 20 Jan 2017 18:26:00 +0000
The inauguration isn't just a big day for Donald Trump. Vladimir Putin probably thinks it's a big day, too.
Petrobras completes sale of Japanese downstream assets
Fri, 20 Jan 2017 17:36:00 +0000

Brazil's state-owned Petroleo Brasileiro SA (Petrobras) has finalized the sale of its Japanese refining business, including subsidiary Nansei Sekiyu KK’s 100,000-b/d idled Nishihara refinery on Japan’s southwestern island of Okinawa, to Taiyo Oil Co. Ltd., Tokyo.

US electric power plants are doing something they haven't done since the 1970s
Fri, 20 Jan 2017 17:30:00 +0000
Electric power utilities passed a significant milestone in carbon emissions last year.
EPA nominee offers refined view of the climate change issue
Fri, 20 Jan 2017 17:18:00 +0000

Oklahoma Atty. Gen. Scott Pruitt forced the news media to report what they’ve ignored for too long—and still they missed the point.

BP’s Juniper platform departs for offshore Trinidad
Fri, 20 Jan 2017 17:03:00 +0000

The Juniper platform has set sail for the southeast coast of Trinidad where it will be installed as BP Trinidad and Tobago LLC’s 14th offshore installation.

Venezuela 2016 inflation skyrockets 800%, GDP shrinks 19%
Fri, 20 Jan 2017 16:09:00 +0000
The slump in oil prices has turned the OPEC nation's once-prosperous oil-boom economy into a mirror of the Soviet Union.
Gazprom adds capacity at Bovanenkovskoye field on Yamal peninsula
Fri, 20 Jan 2017 16:08:00 +0000

OAO Gazprom has added production and transmission capacity at Bovanenkovskoye natural gas-condensate field on the Yamal peninsula in northern Russia.

MARKET WATCH: Crude oil prices rise slightly on IEA report
Fri, 20 Jan 2017 15:50:00 +0000

Benchmark crude oil prices rose slightly on markets in New York and London Jan. 19 on indications that major producers are making progress toward cutting production in their effort to rebalance oil supply and demand worldwide.

Barrette, Mercer join Blank Rome in Pittsburgh
Fri, 20 Jan 2017 15:35:00 +0000

Amy L. Barrette and Jeremy A. Mercer have joined Blank Rome LLP as partners in the Energy, Environment, and Mass Torts practice group. They are in the law firm’s Pittsburgh office.

Oil shortage could hit by 2020 if investment doesn't pick up: Saudi Energy Minister
Fri, 20 Jan 2017 13:10:00 +0000
There could by a shortage of oil supply by 2020, Saudi Arabia’s energy minister warned.
General Electric shares drop after revenue falls short of expectations
Fri, 20 Jan 2017 13:07:00 +0000
Shares of General Electric edged lower after the company reported mixed earnings results.
'Ultimately interest brought us together': Saudi Min on OPEC deal
Fri, 20 Jan 2017 12:35:00 +0000
Saudi Arabia's Minister of Energy, H.E Khalid A. Al-Falih discusses how the country works together and negotiates with other OPEC and non-OPEC members.
As Trump readies for inauguration, environmental, climate organizations express concern
Fri, 20 Jan 2017 12:27:00 +0000
Sustainable Energy looks at how green organizations are assessing Donald Trump's potential impact on the planet.
The world is very complex: Saudi energy minister
Fri, 20 Jan 2017 12:22:00 +0000
Saudi Arabia's Minister of Energy, H.E Khalid A. Al-Falih talks about the subject matters that keep him up at night, from geopolitics to Saudi Vision 2030.
Oil prices today are quite comfortable for our fiscal balance: Saudi Min
Fri, 20 Jan 2017 12:22:00 +0000
"The Saudi vision, of course, will continue to optimize and maximize the benefit we can get from oil and gas," says Saudi Arabia's Minister of Energy, H.E Khalid A. Al-Falih.
2018 is the window we're looking at for Saudi Aramco IPO: Al-Falih
Fri, 20 Jan 2017 12:22:00 +0000
Saudi Arabia's Minister of Energy, H.E Khalid A. Al-Falih talks about when Saudi Aramco wants to go public, while commenting on the oil price outlook.
Stock to Watch: January 20, 2017
Fri, 20 Jan 2017 11:31:00 +0000
GE, Procter & Gamble, and IBM stocks are making headlines on Wall Street today.
Goldman Sachs: This region will be the hardest hit by Trump’s trade barriers
Fri, 20 Jan 2017 07:16:00 +0000
North Asia will be hit the hardest when U.S. president-elect Trump follows through on his promises on trade, said Goldman Sachs.
Oil CEO sees 'significant' impact on capacity in the coming years
Fri, 20 Jan 2017 07:09:00 +0000
The CEO of oil and gas production company EnQuest has told CNBC that spending in the industry has fallen during the current downturn more than any previous cycle.
Capital spend fell in this cycle more than others: EnQuest
Fri, 20 Jan 2017 05:31:00 +0000
EnQuest CEO, Amjad Bseisu talks about the oil price and where it could be heading during 2017, while commenting on strategy.
See light at end of tunnel for oil and gas: Atkins CEO
Fri, 20 Jan 2017 05:30:00 +0000
Atkins CEO, Uwe Krueger talks about the energy sector and its outlook, with added comment on renewables.
Sterling weakness has helped operating costs: EnQuest CEO
Fri, 20 Jan 2017 05:25:00 +0000
EnQuest CEO Amjad Bseisu talks about the impact of Brexit on the company and the oil price.
TransCanada gets approval to construct shale gas pipeline projects
Thu, 19 Jan 2017 22:40:00 +0000

The US Federal Energy Regulatory Commission has issued an order approving the construction of TransCanada Corp.’s Leach XPress and Rayne XPress projects that will transport natural gas from the Marcellus and Utica regions to the Midwest and Gulf Coast.

Perry pledges strong support for DOE, energy research efforts
Thu, 19 Jan 2017 20:55:00 +0000

Former Texas Gov. Rick Perry (R) praised the US Department of Energy’s research programs, said he would try to protect their funding, and repudiated his call as a 2012 presidential candidate for DOE’s elimination during the US Senate Energy and Natural Resource Committee’s hearing on his nomination to be US Energy Secretary.

BSEE: Gas, condensate release reported in Gulf of Mexico
Thu, 19 Jan 2017 20:28:00 +0000

A natural gas and condensate release has been reported from a Kinetica Partners LLC-operated pipeline on West Cameron Block 165 in the Gulf of Mexico, 32 miles southwest of Cameron, La.

Gasolinazo protests destabilize Mexico amid energy reform
Thu, 19 Jan 2017 20:16:00 +0000

Market liberalization’s difficult part is pummeling Mexico.

WTI closes at $51.57/BBL
Thu, 19 Jan 2017 19:34:00 +0000
CNBC's Courtney Reagan reports on the close of the oil market.
US crude settles at $51.37, up 29 cents as IEA sees oil market tightening
Thu, 19 Jan 2017 19:33:00 +0000
Swelling U.S. crude stockpiles limited oil's rebound after the International Energy Agency said markets are tightening.
Rick Perry and Al Franken crack up Senate hearing with awkward exchange
Thu, 19 Jan 2017 18:43:00 +0000
Energy secretary nominee Rick Perry and Sen. Al Franken, D-Minn., share an awkward moment during Perry's confirmation hearing Thursday.
PDO seeks investment in heavy-oil project
Thu, 19 Jan 2017 18:20:00 +0000

Petroleum Development Oman has invited oil and gas companies to invest in what it calls a “sourcing exercise” targeting development of heavy oil in Oman’s Habhab region.

I regret recommending Department of Energy be eliminated, Energy Sec nominee Rick Perry says
Thu, 19 Jan 2017 17:53:00 +0000
Perry called for the agency he has been tapped to lead to be eliminated during his 2012 presidential campaign.
Angelle appointed EVP, CFO of BJ Services
Thu, 19 Jan 2017 17:52:00 +0000

Evelyn M. Angelle has joined BJ Services Co. as executive vice-president and chief financial officer effective immediately.

LyondellBasell expands ethylene capacity at Corpus Christi
Thu, 19 Jan 2017 17:37:00 +0000

LyondellBasell Industries NV has completed its previously announced project to expand ethylene capacity by 50% at its complex in Corpus Christi, Tex.

UBS downgrades Exxon to sell on stretched valuations, predicts 11% pullback
Thu, 19 Jan 2017 17:11:00 +0000
UBS on Thursday lowered its rating on Exxon Mobil to sell from neutral, citing high valuations.
Coombs named LyondellBasell executive vice-president
Thu, 19 Jan 2017 16:56:00 +0000

Daniel Coombs has been appointed LyondellBasell’s executive vice-president, manufacturing and refining. He succeeds Kevin Brown, who is retiring in mid-February.

DONG to sell oil, gas business by yearend
Thu, 19 Jan 2017 16:52:00 +0000

DONG Energy, Fredericia, Denmark, expects to sell its oil and gas exploration and production business by yearend.

Oil billionaire Harold Hamm expects energy deregulation as a 'Day One agenda' for Trump
Thu, 19 Jan 2017 16:41:00 +0000
Overregulation is "hurting everybody," with consumers and businesses paying the price, the Continental Resources founder says.
EIA: US crude inventories up 2.3 million bbl
Thu, 19 Jan 2017 16:26:00 +0000

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 2.3 million bbl during the week ended Jan. 13 compared with the previous week's, according to the US Energy Information Administration’s Petroleum Status Report.

Perry regrets calling for Energy Dept. dissolution
Thu, 19 Jan 2017 15:35:00 +0000
CNBC's John Harwood reports the latest on confirmation hearings from various Senate committees.
MARKET WATCH: Crude oil benchmarks both fall pending US inventory report
Thu, 19 Jan 2017 15:30:00 +0000

Crude prices fell on markets in New York and London on Jan. 18, which analysts attributed to a strengthening US dollar and also concerns that rising US shale production could offset a production cut by major producers elsewhere.

Continental Resources CEO on energy under Trump
Thu, 19 Jan 2017 15:17:00 +0000
Discussing President-elect Trump's plans for energy policy changes in his first 100 days and the potential impact on the energy market with Harold Hamm, Trump Inaugural Committee member and Continental Resources founder, chairman & CEO.
Peabody, shareholders face off in bankruptcy court
Thu, 19 Jan 2017 15:14:00 +0000
Peabody Energy Corp is squaring off in court with shareholders who claim their stock should not be wiped out given a rise in prices for the fuel.
Donald Trump 'can't cure the sickness' that's afflicting the US coal industry
Thu, 19 Jan 2017 15:03:00 +0000
Market watchers anticipating drastic change in energy rules should temper their expectations, Kevin Book says.
Power sector carbon dioxide emissions fall below transportation sector emissions
Thu, 19 Jan 2017 13:00:00 +0000
U.S. carbon dioxide (CO2) emissions from the transportation sector reached 1,893 million metric tons (MMmt) from October 2015 through September 2016, exceeding electric power sector CO2 emissions of 1,803 MMmt over the same time period.
Morgan Stanley upgrades Tesla, giving 4 reasons
Thu, 19 Jan 2017 12:32:00 +0000
Morgan Stanley analysts raise Tesla's price target to $305 from $242 by the fourth quarter.
Trump's energy plans
Thu, 19 Jan 2017 12:19:00 +0000
Kevin Book, ClearView Energy Partners, discusses Donald Trump's energy agenda.
Plains All American to expand Cactus pipeline in Texas
Wed, 18 Jan 2017 22:33:00 +0000

Plains All American Pipeline LP is expanding the capacity on its 310-mile, 20-in. Cactus crude oil pipeline from McCamey to Gardendale, Tex., to 390,000 b/d.

TonenGeneral reports fire at Wakayama refinery
Wed, 18 Jan 2017 22:13:00 +0000

TonenGeneral Sekiyu KK is investigating the cause of an early morning fire that took place on Jan. 18 at its 132,000-b/d refinery in Arida City, Wakayama Prefecture, Japan.

Pruitt’s EPA tenure would embrace rule of law, working with states
Wed, 18 Jan 2017 19:37:00 +0000

Rule of law, cooperative federalism, and public participation would be core philosophies of Oklahoma Atty. Gen. E. Scott Pruitt (R) if he becomes US Environmental Protection Agency administrator, he said. He also would consider proposed regulations’ economic as well as environmental regulations, he told the US Senate Environment and Public Works Committee during his Jan. 18 confirmation hearing.

New Zealand Oil & Gas takes control of Cue Energy Resources
Wed, 18 Jan 2017 17:22:00 +0000

New Zealand Oil & Gas Ltd. (NZOG) has now taken full control of Cue Energy Resources Ltd. after having launched a hostile takeover the Melbourne-based Cue nearly 2 years ago.

Tullow makes Erut-1 oil discovery in Kenya
Wed, 18 Jan 2017 17:09:00 +0000

The Tullow Oil PLC-operated Erut-1 well on Block 13T in northern Kenya has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. The overall oil column for the field is considered to be 100-125 m.

SOCAR lets contract for GPC gas, petchem complex
Wed, 18 Jan 2017 15:51:00 +0000

State Oil Co. of Azerbaijan Republic (SOCAR) subsidiary SOCAR GPC has let a contract to Axens SA, Rueil-Malmaison, France, to provide technology for a butene unit at its proposed grassroots gas processing and petrochemical complex to be built in Garadagh, Azerbaijan, 15 km south of Baku.

Zinke says he would move land management authority out of Washington
Wed, 18 Jan 2017 15:45:00 +0000

US Rep. Ryan Zinke said he would work to have more federal land management decisions reached outside of Washington, DC, as a product of closer collaboration with states and stakeholders if he is confirmed as the next US Secretary of the Interior.

MARKET WATCH: Brent crude oil falls closer to $55/bbl on stronger US dollar
Wed, 18 Jan 2017 15:34:00 +0000

Light, sweet crude prices gained slightly on the New York market on Jan. 17 as trading resumed after the Martin Luther King Jr. holiday on Jan. 16. But the US benchmark fell in early Jan. 18 trading on reports of a strengthening dollar and expectations that US producers will increase unconventional oil production.

EIA: February oil output from major US onshore regions to rise 41,000 b/d
Tue, 17 Jan 2017 23:00:00 +0000

Crude oil output from the seven major US onshore producing regions is expected to rise 41,000 b/d month-over-month in February to 4.748 million b/d, according to data from the US Energy Information Administration.

Twenty-nine firms awarded stakes in Norway’s APA 2016 licensing round
Tue, 17 Jan 2017 21:40:00 +0000

Twenty-nine companies have been awarded 56 new production licenses on the Norwegian continental shelf as part of Norway’s Awards in Predefined Areas (APA) 2016 licensing round. Thirty-three companies were eligible to apply for 148,014 sq km.

Takreer’s Ruwais refinery nearing restart, ADNOC says
Tue, 17 Jan 2017 20:51:00 +0000

Abu Dhabi Oil Refinery Co. (Takreer), the refining arm of state-owned Abu Dhabi National Oil Co. (ADNOC), is preparing to restart about half of its more than 800,000-b/d Ruwais refining complex in the UAE following an early January fire that forced a partial shutdown of operations at the site.

Iran lets contract for Esfahan refinery project
Tue, 17 Jan 2017 18:10:00 +0000

Esfahan Oil Refining Co. (EORC), a subsidiary of Iran's state-owned National Iranian Oil Refining & Distribution Co. (NIORDC), has issued a letter of agreement (LOA) to Daelim Industrial Co. Ltd. of South Korea for execution of a modernization and improvement project at EORC’s 375,000-b/d refinery in Esfahan City, Esfahan province, about 400 km south of Tehran.

CNOOC starts oil production from Enping 23-1 fields
Tue, 17 Jan 2017 17:53:00 +0000

CNOOC Ltd. reported that oil production has started from the Enping 23-1 group of oil fields, which lie in about 90 m of water in the South China Sea’s Pearl River Mouth basin.

WoodMac: Asia oil production to fall by 1 million b/d by 2020
Tue, 17 Jan 2017 17:37:00 +0000

Asian oil production is declining at a faster rate than other regions worldwide, and China accounts for about half of the anticipated decline, Wood Mackenzie Ltd. said.

ExxonMobil to buy Bass family’s Permian assets for up to $6.6 billion
Tue, 17 Jan 2017 17:26:00 +0000

ExxonMobil Corp. has agreed to acquire companies primarily focused on New Mexico’s Delaware basin from the Bass family of Fort Worth in a deal that could total $6.6 billion.

Development plans approved for Utgard, Byrding fields in North Sea
Tue, 17 Jan 2017 17:06:00 +0000

Norwegian authorities have approved Statoil ASA’s development plans for Utgard and Byrding fields in the North Sea.

Inpex lets subsea contract for Ichthys gas, LNG project
Tue, 17 Jan 2017 16:27:00 +0000

Inpex Australia has let a 5-year, subsea and geoscience services contract to Dutch multinational services firm Fugro NV for operations on Inpex’s Ichthys natural gas-LNG project in the Browse basin, 220 km offshore Western Australia.

Statoil’s Cape Vulture well finds oil, gas near Norne field
Tue, 17 Jan 2017 16:19:00 +0000

A year after Norway’s Awards in Predefined Areas (APA) 2015 round, Statoil ASA has discovered 20-80 million bbl of recoverable oil with its Cape Vulture well in PL128 offshore Bronnoysund, Norway, in the Norwegian Sea.

US judge denies preliminary injunction in BLM venting, flaring suit
Tue, 17 Jan 2017 15:59:00 +0000

A federal district court judge in Wyoming denied a preliminary injunction against the US Bureau of Land Management’s venting and flaring rule. Petitioners—which included the Independent Petroleum Association of America, the Western Petroleum Association, and the states of Wyoming, North Dakota, and Montana—did not demonstrate that a preliminary injunction is warranted, US District Judge Scott W. Skavdahl said in his Jan. 16 decision.

MARKET WATCH: Saudi comments lift crude oil prices on jittery world markets
Tue, 17 Jan 2017 15:56:00 +0000

Crude oil benchmarks gained support Jan. 17 after Saudi Arabia’s energy minister reportedly made positive remarks about a quick rebalancing of the world oil markets. US markets were closed Jan. 16 for the Martin Luther King Jr. holiday.

Noble Energy to acquire Clayton Williams in $2.7-billion cash-stock deal
Mon, 16 Jan 2017 21:53:00 +0000

The boards of Noble Energy Inc., Houston, and Clayton Williams Energy Inc., Midland, Tex., have unanimously approved a definitive agreement under which Noble Energy will pay $2.7 billion in cash and stock to acquire Clayton Williams.

Rosneft, BP finalize dissolution of German refining JV
Mon, 16 Jan 2017 21:16:00 +0000

Rosneft PJSC and BP PLC have completed a previously announced plan to dissolve their Ruhr Oel GMBH joint venture. The companies finalized the deal to dissolve the refining and petrochemical JV on Jan. 1, Rosneft said.

HPCL lets contract for Visakh refinery revamp
Mon, 16 Jan 2017 18:57:00 +0000

Hindustan Petroleum Corp. Ltd. (HPCL) has let contracts to Engineers India Ltd. (EIL) for work related to HPCL’s previously announced project to expand and modernize its 8.3 million-tonne/year Vishakapatnam (Visakh) refinery in Andhra Pradesh, on the country’s eastern coast.

Cairn India reports 7% decline in production
Mon, 16 Jan 2017 18:34:00 +0000

Cairn India Ltd. reported a 7% decline in production in its latest quarter. The company cited a planned maintenance shutdown at its Mangala processing terminal on the Rajasthan block as well as natural declines in production from offshore assets.

Obama triumphant despite election's 'seismic repudiation'
Mon, 16 Jan 2017 17:13:00 +0000

Per custom, the president who pressed an 8-year regulatory siege against the US oil and gas industry is scripting his legacy.

Chile's Enap lets contract for Bio Bio refinery
Mon, 16 Jan 2017 17:11:00 +0000

State-owned Empresa Nacional del Petroleo (Enap), has let a contract to Fluor Corp., Irving, Tex., to provide engineering, procurement, and construction on a project aimed at improving environmental performance of subsidiary Enap Refinerias SA's 116,000-b/d Bio Bio refinery at Hualpen, in Chile's Bio Bio region.

DCP Midstream, DCP Midstream Partners announce merger
Mon, 16 Jan 2017 17:08:00 +0000

DCP Midstream LLC, the Denver-based 50-50 joint venture of Phillips 66 and Spectra Energy Corp., and DCP Midstream Partners LP (DMP) have signed a definitive merger agreement under which the companies will combine their businesses to form a new entity that, by late January, will be the largest NGL producer and gas processor in the US.

Foxx signs ANPR seeking comments on crude-oil vapor pressure idea
Mon, 16 Jan 2017 17:07:00 +0000

US Sec. of Transportation Anthony Foxx has signed an advanced notice of possible rulemaking (ANPR) seeking government, industry, and public contributions on questions about establishing a vapor pressure threshold for crude oil as it is being transported.

Inpex, ADNOC ink deal to extend field development venture
Mon, 16 Jan 2017 17:04:00 +0000

Inpex Corp., Tokyo, reported an agreement in principle with Abu Dhabi National Oil Co. to extend the duration of joint development of Satah and Umm Al Dalkh oil fields offshore Abu Dhabi.

Natural gas prices in 2016 were the lowest in nearly 20 years
Fri, 13 Jan 2017 13:00:00 +0000
Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December.
Crude oil prices expected to increase slightly through 2017 and 2018
Thu, 12 Jan 2017 13:00:00 +0000
The U.S. Energy Information Administration's January "Short-Term Energy Outlook" (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018.
Wholesale power prices in 2016 fell, reflecting lower natural gas prices
Wed, 11 Jan 2017 13:00:00 +0000
Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England.
Proserv secures new contracts, establishes new bases

Proserv has already secured new contracts worth more than $12 million so far this year and has revealed plans for further international growth with new bases in Saudi Arabia and India.
North Atlantic Drilling secures contract extension for West Elara

North Atlantic Drilling Ltd has been awarded a firm one-well extension plus one optional well from Statoil Petroleum for the West Elara jackup .
Maersk IPO plans won’t derail bid for Dong’s $2.8-billion unit

A.P. Moller-Maersk A/S CEO Soren Skou’s newly disclosed plans that he favors a stock-exchange listing for his energy units won’t prevent him from buying Dong Energy A/S’s oil and gas fields first.
Schlumberger posts a loss as slump weighs on oil services

Schlumberger reported a fourth-quarter loss as oil’s slump continued to weigh on demand for drilling services.
Shearwater GeoServices signs agreements with TGS for two surveys

Shearwater GeoServices Norway AS has signed agreements with multiclient company TGS for two surveys, one firm and one optional, in Norway. The surveys that are scheduled to commence between March and May 2017 total approximately 15,000 sqkm and will be performed by two of Shearwater’s high-end 3D vessels. The scope of the firmly awarded survey equals to approximately 6 vessel months and requires a wide tow spread for which the Shearwater vessels are designed. The optional scope equals to 4 additional vessel months.
EMGS and TGS expand cooperation in Barents Sea

Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (TGS) have agreed to expand the companies' cooperation agreement in the Barents Sea.
Halliburton awarded Iraqi drilling contract by Shell

Halliburton has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell’s Majnoon oil field in Southern Iraq.
Schlumberger waits for international oil spending to pick up

Schlumberger is waiting for the rest of the world’s oil producers to catch up to the North American crude recovery.
OPEC, Russia meet in Vienna for first check on oil-cuts progress

Representatives of OPEC and several other major oil producers will start arriving in Vienna on Friday for their first meeting to monitor compliance with an agreement to cut output.
Trump said to pick LaFleur as chairman of U.S. Energy Regulator

President-elect Donald Trump plans to name Cheryl LaFleur chairman of the Federal Energy Regulatory Commission, an agency charged with overseeing the nation’s power grid and deciding on multi-billion-dollar energy projects, two people familiar with the situation said.
U.S. average regular gasoline and diesel retail prices climb (12/29/2016)

The U.S. average regular gasoline retail price rose almost five cents from the previous week to $2.31 per gallon on December 26, up nearly 28 cents from the same time last year. The Midwest price rose nine cents to $2.28 per gallon and the Rocky Mountain price rose four cents to $2.18 per gallon. The West Coast and the Gulf Coast prices each rose three cents to $2.59 per gallon and $2.08 per gallon, respectively, while the East Coast price rose two cents to $2.31 per gallon. ...
EIA now using near-real-time export data to provide better weekly petroleum consumption statistics (1/5/2017)

Starting with the August 31 release of the Weekly Petroleum Status Report (WPSR), EIA is now publishing weekly export and petroleum consumption estimates based on near-real-time export data provided by U.S. Customs and Border Protection (CBP). ...
Average crude oil prices forecast to rise as markets move toward balance (1/11/2017)

The U.S. Energy Information Administration's (EIA) January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. Average forecast prices rise to $56/b and $55/b, respectively, in 2018. ...
Hydrocarbon gas liquids becoming a key factor in overall liquid fuel balance changes (1/19/2017)

Hydrocarbon gas liquids (HGL)-a group of products that includes ethane, propane, normal butane, isobutane, natural gasoline, and refinery olefins-have traditionally accounted for only minor changes in global liquid fuels production and consumption balances. However, HGL, and in particular ethane, is becoming a significant factor in expected year-over-year changes in global liquid fuels balances. ...
Oil demand at risk as China reins in buyers that bought less

Demand from some of the most coveted oil buyers may slow this year because they didn’t purchase all that they could in 2016.
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