U.S. inventory draw of 3.2 MMBO Crude oil prices settled higher for a third day Wednesday as the Department of Energy reported the third consecutive week of crude oil draws. U.S. inventories decreased by 3.2 MMBO, slightly more than the average economist estimate of 3.1 MMBO. Today’s figures did show more gasoline pumped into storage, however, an unusual occurrence in
Proved oil reserves remain sufficient to meet more than 50 years of global production; North American Shale Revolution added 15% technically recoverable oil and gas resources The substantial decline in the value of crude oil at the end of 2014 had very little impact on the amount of proved oil reserves in the world, BP (ticker: BP) said in its
Bank Downgrades Global Growth for 2016 – Commodity Exporters are Expected to Grow 5.4% Less than Importers The World Bank released its economic growth outlook for 2016 Tuesday, reducing its expectations from earlier this year. The bank anticipates global economic growth of 2.4%, down from 2.9% in January. 40% of that downward revision is due to commodity-exporting emerging markets
From The Canadian Press/Canadian Manufacturing CALGARY—A two-tier mergers and acquisition marketplace is developing for western Canadian oil and gas properties, with bidders starting to line up to buy crude-producing properties—although companies marketing natural gas wells are finding few takers. Volatility in oil and gas prices over the past year have scared many buyers out of the market while making valuations difficult
NEW YORK, June 8, 2016 /PRNewswire/ — Crestview Partners, a New York based private equity firm, announced an investment in a newly-formed company, W Energy Partners (“W Energy” or the “Company”). Crestview Partners III, L.P. and its affiliated funds, will invest up to $150 million in W Energy to capitalize the business and fund the acquisition and development of high quality exploration and production (“E&P”) assets in
From Marine Link Workers at Elengy’s three liquified natural gas (LNG) terminals in France have voted to stage two 24-hour strikes on Thursday and next Tuesday as part of nationwide protests against a labour reform bill, a CGT union official said on Wednesday. The strikes will halt unloading of LNG tankers and reduce production of gas for the grid to
From the Wall Street Journal OKLAHOMA CITY—When Aubrey McClendon drove his Chevy Tahoe into a bridge the day after he was indicted for allegedly rigging the price of oil and gas leases, suspicions arose that the shale-energy pioneer had killed himself. But a two-month investigation by the Oklahoma City Police Department has found nothing to suggest Mr. McClendon committed suicide.
CALGARY, ALBERTA–(Marketwired – June 8, 2016) – Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE MKT:GTE)(TSX:GTE)today announced that the Company, through one of its wholly owned subsidiaries, recently transacted Colombian peso (“COP”) hedges with two banks, providing additional stability to forecasted cash outflows for approximately 110 billion COP or $36 million USD from June 2016 to May 2017.
TORONTO, ONTARIO–(Marketwired – June 8, 2016) – Canada Pension Plan Investment Board (CPPIB) announced today that an affiliate of its wholly owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), has committed US$450 million to LongPoint Minerals, LLC (LongPoint), a company focused on the acquisition of oil and natural gas mineral and royalty interests in the U.S. The initial commitment, which
Northern Blizzard Resources Inc. Announces Third Quarter Drilling Program and Amended Credit Facility
FuelCell Energy Reports Second Quarter 2016 Financial Results and Business Update
Research and Markets – Global Waste Heat Recovery Market Analysis 2016-2022 – Trends, Technologies & Opportunities Report – Key Vendors: General Electric, Amec Foster Wheeler, Dongfang Electric Corp
