Articles by: [email protected]

Source: Reuters

Eni announces new oil discovery and new production in the Western Desert of Egypt

Energy-Pedia

Eni has announced a new oil discovery, in Meleiha Concession, in the Western Desert of Egypt. The discovery was achieved through the Arcadia 9 well, drilled on the Arcadia South structure, which is located 1.5 km …

December 30, 2020 - 1:21 pm Crude Oil News, International
Martin Midstream MMLP Divests Mega Assets to Stone Oil

Martin Midstream MMLP Divests Mega Assets to Stone Oil

Martin Midstream Partners L.P. MMLP announced the divestment of some of the assets related to its Mega Lubricants (or Mega) onshore terminals business to John W. Stone Oil Distributor, LLC, (“Stone Oil”) in a $22.4-million deal.

As an integrated manufacturing …

December 30, 2020 - 12:21 pm Acquisitions and Divestitures (A&D), Midstream
Commodities 2021: Alaska’s North Slope operators on track with two projects

Commodities 2021: Alaska’s North Slope operators on track with two projects

S&P

Anchorage — Despite a lackluster outlook for crude oil prices, North Slope operators are on track with two major projects in 2021 that could add 200,000 b/d of new production moving through the Trans Alaska Pipeline System by 2025.…

December 30, 2020 - 12:10 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News, US News
Source: CNBC

Russia Looks To Become Leader In Hydrogen Tech

OilPrice

Russia’s mineral and energy wealth has given it a second chance in global affairs after the Cold War and the implosion of the Soviet Union. Oil and gas exports have provided the necessary income to rebuild the country and …

December 30, 2020 - 11:57 am Closing Bell Story‎, Hydrogen, International
Climate, Energy, And Essential Infrastructure In Texas

Climate, Energy, And Essential Infrastructure In Texas

Forbes

Essential infrastructure spending and regulation is on the agenda of the upcoming biennial session of the Texas legislature. Some believe that there are competing interests are at play—wind and solar energy versus oil and gas producers. Both are competing …

December 23, 2020 - 12:27 pm Closing Bell Story‎, Energy News
Pacific Drilling to emerge from bankruptcy by year-end

Pacific Drilling to emerge from bankruptcy by year-end

Offshore Energy

Offshore drilling contractor Pacific Drilling expects to emerge from Chapter 11 bankruptcy by year-end following the confirmation of its prearranged plan of reorganization by the U.S. court.

Pacific Drilling filed for Chapter 11 bankruptcy to eliminate $1.1 billion …

December 23, 2020 - 12:06 pm Offshore, Oilfield Services
Ring Energy, Inc. Announces Results of Fall 2020 Redetermination of Its Senior Credit Facility

Ring Energy, Inc. Announces Results of Fall 2020 Redetermination of Its Senior Credit Facility

Company Also Pays Down Revolver and Adds Additional Oil Hedges

MIDLAND, Texas–(BUSINESS WIRE)– Ring Energy, Inc. (NYSEAM: REI) (“Ring” or the “Company”) announced today the results of its fall 2020 redetermination of its $1 billion senior revolving credit facility (“Credit …

December 23, 2020 - 10:52 am Exploration and Production (E&P), Press Releases
ConocoPhillips Makes Large Oil Discovery Offshore Norway

ConocoPhillips Makes Large Oil Discovery Offshore Norway

OilPrice

ConocoPhillips has made a large oil discovery in the Norwegian Sea close to a producing oilfield, the U.S. oil and gas company said on Tuesday.

Preliminary estimates point to the field containing between 75 million barrels and 200 million …

FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245

FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245

Shell 

A Federal High Court in Abuja has rejected moves by the Federal Government, Shell Nigeria Exploration, Nigeria Agip Exploration Company and others to prevent the hearing of a suit seeking to reclaim the Oil Prospecting License (OPL) 245 originally …

December 22, 2020 - 1:42 pm Exploration and Production (E&P)
Canada launches strategy to become global hydrogen leader

Canada launches strategy to become global hydrogen leader

WNN

The Canadian government has launched a strategy that sees low-carbon and zero-emission hydrogen fuel technology as a key part of the nation’s path to net-zero carbon emissions by 2050. The strategy is underpinned by a federal investment of CAD1.5

December 18, 2020 - 3:00 pm Canada, Canada News, Hydrogen, International
LNG Prices Soar To Six-Year High

LNG Prices Soar To Six-Year High

Oil Price

Spot prices for liquefied natural gas (LNG) delivery in Asia jumped to a six-year high this week as lower-than-normal temperatures in key LNG importers and continued growth in China’s industrial activity boost demand.

Spot LNG prices for January …

December 18, 2020 - 3:00 pm Closing Bell Story‎, International, LNG
TransAtlantic Petroleum Approval of Agreement and Plan of Merger

TransAtlantic Petroleum Approval of Agreement and Plan of Merger

TransAntantic

HAMILTON, Bermuda, Dec. 18, 2020 (GLOBE NEWSWIRE) — TransAtlantic Petroleum Ltd. (TSX: TNP) (NYSE American: TAT) (the “Company” or “TransAtlantic”) today announced that the Company’s shareholders have approved the Agreement and Plan of Merger (the “Merger Agreement”), by and …

Source: Reuters

ExxonMobil (XOM) Up 14% MTD: What’s Behind the Rally?

Nasdaq

Shares of Exxon Mobil Corporation XOM have jumped 14% month to date (MTD) compared with the industry’s 8.5% growth. The Zacks Rank #1 (Strong Buy) stock has witnessed upward revisions in the Zacks Consensus Estimate for 2021 earnings in …

Work stops on Trans Mountain pipeline over safety concerns

Work stops on Trans Mountain pipeline over safety concerns

BOE Report 

Work on expanding Canada’s Trans Mountain oil pipeline has halted for more than two weeks due to safety concerns, the government-owned corporation said.

Trans Mountain Chief Executive Ian Anderson cited multiple worker safety incidents during the past two …

FILE PHOTO: A general view of Tesoro's Los Angeles refinery in Los Angeles, California October 10, 2014. REUTERS/Lucy Nicholson

U.S. shale oil output to drop 136,000 bpd to 7.44 million bpd in Jan – EIA

Reuters

U.S. oil output from shale formations is expected to decline by about 136,000 barrels per day (bpd) in January to 7.44 million bpd, the lowest since June, the U.S. Energy Information Administration (EIA) said in a monthly forecast on …

Earthstone Energy Announces Significant Midland Basin Acquisition

Earthstone Energy Announces Significant Midland Basin Acquisition

Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”) today announced that it has entered into a definitive agreement to acquire Independence Resources Management, LLC (“IRM”), a privately held independent E&P company backed by Warburg Pincus, LLC and its affiliates …

Exclusive 360 Energy Expert Network Video Interview: Dr. Dean Forman, API – All things considered, the bulls are ready to run in 2021-2022

Exclusive 360 Energy Expert Network Video Interview: Dr. Dean Forman, API – All things considered, the bulls are ready to run in 2021-2022

The update from Dr. Dean Foreman, Chief Economist for the American Petroleum Institute, covers our world wide energy markets. Dean has worked at Saudi Aramco and ExxonMobil, and has seen just about everything. So when the world hits it's first

Data Gumbo Real Time LOE Webinar Rewind

December 17, 2020 - 9:44 am Technology
Exclusive 360 Energy Expert Network Video Interview: CAC Specialty –  Market Update

Exclusive 360 Energy Expert Network Video Interview: CAC Specialty – Market Update

The leadership team from the Natural Resources Division at CAC Specialty stopped by for an update on what they are seeing in this difficult and trying market. Being a risk management company with knowledge, unapparelled expertise, and the ability to

Caribbean refinery sells first product after yearlong delay

Caribbean refinery sells first product after yearlong delay

BOE

Caribbean refinery Limetree Bay Ventures sold the first oil product to a buyer in the Gulf Coast on Monday, according to a shipbroking source and Refintiv Eikon data, nearly a year after the long-shuttered facility was expected to restart, …

December 15, 2020 - 8:16 am Downstream, International
Total CEO Patrick Pouyanne says The North Sea could be switched from a depleting oil and gas basin to a site for storing CO2

Total CEO Patrick Pouyanne says The North Sea could be switched from a depleting oil and gas basin to a site for storing CO2

Reuters

The North Sea could be switched from a depleting oil and gas basin to a site for storing COunder the seabed, Total CEO Patrick Pouyanne said Dec. 15.

The French oil firm is one of the partners …

December 15, 2020 - 8:09 am International, Offshore
Keyera launches inaugural ESG report, signs solar power deal for 10% of electricity needs

Keyera launches inaugural ESG report, signs solar power deal for 10% of electricity needs

BOE Report

CALGARY, AB – Keyera Corp. (TSX: KEY) (“Keyera”) today released its inaugural environment, social, and governance (ESG) report. The announcement coincides with Keyera and Samsung Renewable Energy Inc. signing a 15-year power purchase agreement (PPA).

“Our vision of

December 15, 2020 - 8:04 am Canada, Canada News, ESG, International
Exclusive 360 Energy Expert Network Video Interview: Jay Young – King Operating Corporation – An oil company changing the operating model for the stakeholders

Exclusive 360 Energy Expert Network Video Interview: Jay Young – King Operating Corporation – An oil company changing the operating model for the stakeholders

The Oil & Gas industry has had a major reset on almost every front in 2020. From investors, access to capital, lowering CapEx, low oil prices, high supply, and no demand. For energy sector investors, it has been a blood

Iran Prepares For Oil Export Boost

Iran Prepares For Oil Export Boost

Oil Price 

Iran is preparing to start expanding its crude oil exports ahead of Joe Biden’s inauguration in January in a clear sign it expects better bilateral relations with the U.S. during the next administration.

“Due to sanctions before the …

December 7, 2020 - 11:15 am Crude Oil News, International
Chevron’s $14-Billion Budget Prioritizes Kazakhstan Over Permian Basin

Chevron’s $14-Billion Budget Prioritizes Kazakhstan Over Permian Basin

JPT

Chevron announced last week a $14-billion budget for next year that reflects its need to complete a major project in Central Asia before it can unleash more of its capital power on the Permian Basin. The new figure also …

December 7, 2020 - 10:14 am Crude Oil News, International
California was the largest net electricity importer of any state in 2019

California was the largest net electricity importer of any state in 2019

EIA

Electricity routinely flows between the Lower 48 states and, to a lesser extent, between the United States and Canada and Mexico. Electricity generation exceeds electricity consumption in 25 states, and excess electricity is transmitted across state lines—almost 10% of …

December 7, 2020 - 6:51 am EIA News That Matters, Hydroelectric, Nuclear, Power Generation
Australia’s LNG exports at nine-month high – even with the 13 billion floating LNG venture offline

Australia’s LNG exports at nine-month high – even with the 13 billion floating LNG venture offline

Dutch Royal Shell

…the Shell-operated…Prelude floating LNG venture remaining off line. The plant offshore Western Australia is unlikely to restart before next year, and has been off line since February.

Australia’s LNG exports rose to a nine-month high of 7.04mn …

December 4, 2020 - 4:54 am International, LNG
ExxonMobil in negotiations to acquire stake in India’s oil and gas fields – opportunistic on large markets

ExxonMobil in negotiations to acquire stake in India’s oil and gas fields – opportunistic on large markets

Offshore Technology

US oil major ExxonMobil is reportedly in talks to acquire a stake in India’s producing oil and gas fields.

US oil major ExxonMobil is reportedly in talks to acquire a stake in India’s producing oil and gas fields.…

December 3, 2020 - 12:54 pm Crude Oil News, Exploration and Production (E&P)
CEO Roberto Castello Branco- Petrobras

Brazil’s Petrobras eyes potential Guyana drilling acreage amid licensing row -“These problems have to be solved”

S&P

Rio de Janeiro — Brazilian state-led oil company Petrobras could turn to Guyana for access to acreage along South America’s equatorial margin if local environmental regulators do not grant permits to drill in Brazil’s Foz do Amazonas Basin, said …

December 3, 2020 - 12:42 pm Crude Oil News, International
Exclusive 360 Women In Energy Video Interview: A Different Take on ESG with Susan Fakharzadeh Pt 2

Exclusive 360 Women In Energy Video Interview: A Different Take on ESG with Susan Fakharzadeh Pt 2

This is the second part of the Women In Energy ESG interview, and is outstanding as a standalone interview.

 

ESG can be one of the most misunderstood and wildly misused topics in the oil and gas industry. We take