International

Obsidian Energy Provides Corporate and Operational Update

Obsidian Energy Provides Corporate and Operational Update

CALGARY, ABJune 22, 2020 /PRNewswire/ – OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to provide a corporate and …

Gore Street acquires 50MW Scottish storage project

Gore Street acquires 50MW Scottish storage project

Oil & Gas 360 Publishers Note: One of the energy topics we are watching is energy storage. Storage is critical for renewable energy projects. 

Energy storage investment fund Gore Street has reached a deal to acquire 100% of the 50MW …

Port of Marseille Fos looks to promote LNG and become a regional hub

Port of Marseille Fos looks to promote LNG and become a regional hub

LNG Industry


Oil & Gas 360 Publishers Note: This is an excellent article pointing the simple fact that fossil fuels will not be going away anytime soon. Everyone likes to go on cruises and the ships are migrating to LNG.

June 22, 2020 - 8:00 am International, LNG
India’s May crude oil imports post biggest decline since at least 2005

India’s May crude oil imports post biggest decline since at least 2005

ET


New Delhi: India’s crude oil imports in May fell 22.6% from a year earlier, it’s biggest drop since at least 2005, as fuel demand and refinery production was hurt by a country-wide lockdown to curb the spread of coronavirus

June 21, 2020 - 10:30 am Crude Oil News, International
Source: Reuters

Column: Oil prices no longer especially cheap after strong rally – Kemp

Reuters


LONDON  – Oil prices are no longer particularly cheap by historical standards.

Perceptions about prices tend to be over-influenced by recent experience so current prices feel very low to producers used to receiving $60-80 per barrel over the 2018/19 …

Higher Western Canada spot prices limit U.S. natural gas imports from Canada

Higher Western Canada spot prices limit U.S. natural gas imports from Canada

EIA


U.S. imports of natural gas by pipeline at U.S.-Canada border crossings in the western United States fell to an estimated average of 6.2 billion cubic feet per day (Bcf/d) in April and 6.3 Bcf/d in May 2020, according to …

BC Ferries’ Hybrid-electric Newbuilds Enter Service – A new update to a proven technology for WWII submarines

BC Ferries’ Hybrid-electric Newbuilds Enter Service – A new update to a proven technology for WWII submarines

MarineLink


Oil & Gas Publishers Note: Have you ever been on a WWII submarine, or met one of the veterans that served on them? The diesel-electric hybrid submarines played a critical role in defeating the Axis Powers. I would love

Indian Prime Minister Narendra Modi (Photo: Prachatai/Flickr)

India eyes private investment to open 41 new coal mines

CHN


Oil & Gas Publishers Note: I applaud Prime Minister Modi for standing up for his commitment to the Indian people. Getting the lowest cost power to help elevate the country’s population out of poverty is truly putting his people

Source: © Getty Representational image

U.S. blacklists Mexican shipping network working with Venezuela to evade sanctions

The Trump administration has imposed sanctions against a shipping network of Mexican companies and nationals it accuses of working with the embattled government of Venezuelan President Nicolas Maduro to evade U.S. sanctions.

Three Mexicans, eight companies and two oil tankers …

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

CNBC


Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from …

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

EIA


Oil & Gas 360 Publishers Note: To help understand the OPEC + members, take a look at the breakeven crude oil prices. Breakeven is is the fiscal breakeven, the minimum price that a country needs to receive per barrel

Sasol Ethan Cracker Louisiana

SOL: Sasol Limited – Sasol Update on Response to Oil Price Volatility and COVID-19 Pandemic

JOHANESBURG, June 18, 2020 /PRNewswire/ — Sasol continues to make significant progress on the response plan measures announced on 17 March 2020 and 23 April 2020, to address the impacts of oil price volatility and the COVID-19 pandemic (COVID-19).…

Asian Development Bank to end fossil fuel financing

Asian Development Bank to end fossil fuel financing

Trend


NGO Forum on ADB, a network of over 250 civil society organizations across Asia calls out the Asian Development Bank (ADB) to end its green posturing and make real commitments towards a Paris aligned policy and appropriate clean energy …

June 17, 2020 - 7:33 pm Borrowing Base, Capital Markets, Economy, Finance, International
Brazil: Petrobras releases E&P teaser of assets in the state of Alagoas

Brazil: Petrobras releases E&P teaser of assets in the state of Alagoas

Energy-pedia


Petrobras has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in a set of seven onshore and shallow water concessions located in the state of Alagoas.

The teaser, which includes key information about …

Chinese traders trying their luck with sanctioned Venezuelan oil

Chinese traders trying their luck with sanctioned Venezuelan oil

Bloomberg


Oil & Gas 360 Publishers Note: We have been covering this story for weeks in our news desk and stories. This is one to watch.

BEIJING (Bloomberg) – Venezuela’s oil exports have collapsed since the U.S. placed sanctions on …

June 17, 2020 - 9:00 am China, Crude Oil News, International, Politics & Opinions
TGS Announces 2Dcubed Seismic Project to Cover License Round Acreage Offshore Timor-Leste

TGS Announces 2Dcubed Seismic Project to Cover License Round Acreage Offshore Timor-Leste

360 Feed Wire


Asker, Norway (17 June 2020) – TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced that in collaboration with the ANPM, it has commenced a 2Dcubed  seismic data project

Saudi Aramco completes SABIC acquisition

Saudi Aramco completes SABIC acquisition

Oil & Gas 


The national oil company purchased 2.1 billion shares of SABIC

Saudi Aramco has completed its acquisition of Saudi chemicals giant SABIC, Reuters reported. The national oil company purchased 2.1 billion shares (70%) of SABIC on Sunday,

Trillion Energy’s Cendere Oil Field regains profitability on Oil Price Rise

Trillion Energy’s Cendere Oil Field regains profitability on Oil Price Rise

VANCOUVER, British Columbia and ANKARA, Turkey, June 16, 2020 (GLOBE NEWSWIRE) — Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) is pleased to report that the Cendere Oil field has regained positive economics as …

ESG Investing Meets The Covid Challenge

ESG Investing Meets The Covid Challenge

Global Finance


Oil & Gas Publishers Note: ESG is one of, if not the biggest, impacts to capital in the energy markets. While consumers are asking for ESG solutions, not many fully understand what it means. Excellent article by Craig

Source: CNBC

Spain’s Repsol plans to invest millions in fuel production using green hydrogen

CNBC


Repsol has announced plans to develop a facility that will use carbon dioxide and green hydrogen to generate net-zero emission fuels for use in the transportation sector.

The Spanish oil and gas firm also announced Monday that it would …

TGS – announces the completion of the Jaan 3D seismic survey in NW Africa

TGS – announces the completion of the Jaan 3D seismic survey in NW Africa

360 Feed Wire


Asker, Norway (15 June 2020) – TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced the completion of its flagship Jaan 3D seismic survey covering the MSGBC Basin in NW

New pipeline tariff, authorisation policy to push for higher share of gas in energy basket

New pipeline tariff, authorisation policy to push for higher share of gas in energy basket

Energyworld


Oil & Gas 360 Publishers Note: The United States could learn from India on getting pipelines approved through regulations. Great policies for affordable energy for the growing population. 

New Delhi: In a bid to raise the share of …

Global electricity consumption continues to rise faster than population

Global electricity consumption continues to rise faster than population

EIA


Global electricity consumption continues to increase faster than world population, leading to an increase in the average amount of electricity consumed per person (per capita electricity consumption), according to the U.S. Energy Information Administration’s (EIA) International Energy Statistics. …

Iraq Asks BP To Throttle Flow In Order To Meet OPEC+ Quota

Iraq Asks BP To Throttle Flow In Order To Meet OPEC+ Quota

Bloomberg


LONDON- Iraq has asked BP to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not

EU defines green investments to boost sustainable finance

EU defines green investments to boost sustainable finance

Modern Diplomacy


To boost the shift towards eco-friendly investment the EU is introducing rules to define what qualifies as green or sustainable activities.

During the June plenary session, MEPs will vote on a framework that determines which activities can be …

Global upstream investments set for 15-year low, falling to USD383 billion in 2020 – Rystad Energy

Global upstream investments set for 15-year low, falling to USD383 billion in 2020 – Rystad Energy

Rystad Energy


Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15

Source: Reuters

Special Report: How China got shipments of Venezuelan oil despite U.S. sanctions

Reuters


Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing.

The United States had imposed sanctions on Venezuela’s state-owned oil company as …

Source: Kremlin.ru

Putin’s anger over environmental damage may drive modern reforms

WorldOil


The mishandling of the biggest Arctic oil spill ever infuriated Russian President Vladimir Putin and could be the catalyst for adoption of modern environmental regulations.

MMC Norilsk Nickel PJSC, Russia’s biggest miner, didn’t make a public statement until two …

June 11, 2020 - 1:54 pm Crude Oil News, International
Source: Reuters

Lebanon could have had oil tanker seized by Eurobond holders: minister

Reuters


BEIRUT  – Lebanon could have recently had an oil tanker seized by Eurobond holders because of its stinging debt crisis and the government was taking steps to avoid such risks in future, the energy minister said on Thursday.

Lebanon …

Source: Reuters

Russia charges Arctic city mayor with bungling fuel spill response

Reuters


MOSCOW – Russia said on Thursday it had charged the head of the remote Arctic city of Norilsk with criminal negligence over what investigators said was his bungled response to a major environmental disaster.

Around 21,000 tonnes of diesel …