Oil & Gas 360 – Page 920

$728-Million Award for Vantage Drilling Upheld by U.S. District Court - Oil & Gas 360

Petrobras to Privatize Brazil’s Top Gas Seller in $2 Billion Share Sale

July 23, 2019

From Reuters Brazilian state-run oil company Petroleo Brasileiro SA is set to relinquish control of the country’s biggest fuel distributor in a share offering due to be priced late on Tuesday, pushing ahead with a privatization drive under new Chief Executive Roberto Castello Branco. Each of Branco’s three predecessors discussed privatizing Petrobras Distribuidora SA. The share offering of the gas

Saudi Arabia Urges Global Community to Deter Maritime Trade Disruptions

July 23, 2019

From Reuters Saudi Arabia’s cabinet said on Tuesday that Iran’s interception of commercial vessels in Gulf waters, including its seizure of a British tanker, violated international law and must be prevented. The Saudi remarks came after Britain called on Monday for a European-led naval mission to ensure safe shipping through the Straight of Hormuz, the world’s most important oil artery.

Freeport LNG Train 1 Reaches Final Commissioning Stage

July 22, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Facility will be able to produce a total of 2.2 Bcf per day upon completion Train 1 of the Freeport LNG project, located on Quintana Island in Freeport, Texas, has reached its final commissioning stage, including the introduction of feed gas into the liquefication facility. The project is being constructed by

Pacific Drilling Gets a New CFO

July 22, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Pacific Drilling appoints James W. Harris as senior vice president, chief financial officer Pacific Drilling S.A. (stock ticker: PACD), a deepwater offshore drilling contractor, has appointed James W. Harris to serve as the company’s senior vice president and chief financial officer. He will be replacing Johannes P. Boots, who has come

Energy Master’s Program Prepares Energy Professionals for Company Leadership Roles - Oil & Gas 360

Halliburton Cuts 8% of North American Jobs in Frack Slowdown

July 22, 2019

From Bloomberg Company executing new ‘playbook’ to deal with customer changes, shale producers are trimming spending amid investor pressure Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear. The world’s biggest provider of fracking equipment, including heavy duty rock-blasting pumps and

Mars Crude Climbs to Four-Month High on Storm-Related Output Losses

July 22, 2019

From Reuters Mars Sour, a U.S. Gulf of Mexico crude grade, firmed to the strongest in four months on Monday as traders focused on offshore production losses caused by a tropical storm and a minimal disruption to refining. Mars barrels for delivery in August traded as strong as $7.50 a barrel over U.S. benchmark futures, up from as much as

GE Oil & Gas Alum Joins Tech Company as CCO - Oil & Gas 360

Tech Leads U.S. Stocks Higher; Oil Gains

July 22, 2019

From Reuters U.S. stocks gained ground on Monday at the onset of a heavy earnings week, while European shares inched higher as investors took heart from potential progress in U.S.-China trade talks and increasing geopolitical tensions sent oil prices climbing. Tech pushed Wall Street into positive territory as investors girded themselves for a week of second-quarter results from major industrial

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

July 22, 2019

From Bloomberg Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer. Two and a half months after the White House banned the

United States Energy Secretary Rick Perry said on Tuesday that a sanctions bill putting onerous restrictions on companies involved in the Nord Stream 2 - Oil & Gas 360Perry Final Portrait Cropped_0

Iran’s Ability to Influence Oil Market is Limited: U.S.’s Perry

July 22, 2019

From Reuters The rise in new suppliers of oil and gas has reduced the ability of Iran to influence global oil markets, U.S. Energy Secretary Rick Perry said on Monday. The price of crude LCOc1 jumped on Monday following Iran’s seizure on Friday of a British-flagged oil tanker in the Strait of Hormuz, but had pared initial, steep gains by

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

July 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 British and Liberian-flagged vessels seized by Iran, who President Trump calls “nothing but trouble” Iran has seized two oil tankers – one British-flagged and one Liberian-flagged – in the Strait of Hormuz, following through on its threats to retaliate after one of its ships was seized by U.K. authorities off the

Range Sells Appalachian Assets for $634 Million

July 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Range sells royalties in 350,000 net surface acres for $600 million, 20,000 non-producing acres for $34 million Range Resources Corporation (stock ticker: RRC), a Fort Worth-based independent E&P, has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres of its southwest Appalachian Basin assets. The

New CEO, Chairman at Schlumberger

July 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Schlumberger appoints Olivier Le Peuch as CEO, Mark G. Papa as non-executive chairman of the board Schlumberger Limited (stock ticker: SLB), the largest public oilfield services company in the world by both market capitalization and enterprise value, has elected Olivier Le Peuch as its chief executive officer, effective August 1, 2019.

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