All U.S. sanctions on Iran that were lifted or waived as part of the Iran nuclear deal were re-imposed effective November 5, 2018. Washington, D.C.-based law firm Akin Gump has released a lengthy analysis and description of the ins and outs relating to the return of Iran sanctions to global trade in oil and other goods. The NDAA 2012 provides
From The Wall Street Journal Russia is expanding its foothold in the fast-growing natural gas market despite Western efforts to limit Moscow’s energy influence. Directly squaring off against U.S. shale exporters, Russia has emerged this year as a major player in the burgeoning market for liquefied natural gas, which is exported across the oceans on special ships. Meanwhile, Russia has been
From The Wall Street Journal Plunging oil prices once again threaten to force American shale drillers to pull back on production, just as they were preparing to unleash a flood of crude. U.S. benchmark prices are rising Monday morning, recently at $51.91, but have tumbled more than 30% since October and closed Friday at their lowest level in more than a year.
From Bloomberg Saudi Arabia is pumping more crude than at any time since its first barrel was extracted 80 years ago, responding to pressure from U.S. President Donald Trump to keep driving oil prices lower. Saudi daily output reached 11.2 million barrels a day, from 10.8-10.9 million barrels earlier this month, according to a person familiar with the matter, who
From Bloomberg The race to export U.S. shale oil overseas is about to get fierce, with at least nine proposed terminals angling for a piece of a very limited pie. Within 18 months, new pipelines opening in the nation’s most prolific shale basin promise to carry an added 2 million barrels of oil a day to the Gulf Coast. But
From Bloomberg Canadian Finance Minister Bill Morneau is signaling he won’t cough up money for new rail cars to ship Alberta oil, saying it would take months and wouldn’t solve the current price collapse. Morneau, in an interview with “The West Block” on Global News that aired on Sunday, said the province of Alberta could buy rail cars with industry
From Bloomberg Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification. The world’s biggest oil exporter is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion
Follow-on offerings at lowest point in 15 years, IPOs at lowest in 10 years This year has been historically slow for North American oil and gas companies hoping to tap the capital markets. During the downturn, many oil and gas companies sold shares to stay afloat, offering equity for the cash needed to pay down debt and continue drilling programs.
From CNBC British energy giant BP plans its investments on the back of a $50 to $70 a barrel range to adequately prepare for oil market swings, its Middle East chief told CNBC. Crude prices have been on a rollercoaster ride, falling to a year-low on Friday, just weeks after hitting a nearly four-year high in October ahead of U.S.
Study: for each well that is drilled, up to 6,000 truckloads of freight haul business are generated From FreightWaves Since the beginning of October, the price of oil has been dropping steadily. As of Friday’s close, crude oil benchmark WTI (West Texas Intermediate) was off by nearly 25%. We’ve seen this play out before. Oil tops and then rapidly drops
Part of Saudi Aramco’s “In Kingdom Total Value Add” program requires every supplier to participate in the kingdom’s localization strategy whereby Aramco is building its own “in-house” supply chain. Participation in the annual program is mandatory. Aramco’s goal is “70 percent local content by 2021,” the company said. Organizations that have committed include: Offshore Oil Engineering Co. Ltd. Sapura Fabrication Sdn
Helium – Global Procurement Market Intelligence Report (2018-2022) with Profiles for Air Liquide, Air Products and Chemicals, Praxair Technology, Linde, ExxonMobil, and Qatargas – ResearchAndMarkets.com
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