Economy

FILE - In this Jan. 12, 2017 file photo, a worker operates valves in Nihran Bin Omar field north of Basra, Iraq. The U.S. has signaled to Iraq it's willingness to extend sanctions waivers enabling the country to continue importing vital Iranian gas and electricity imports, three Iraqi officials said this week. The decision comes amid strained U.S.-Iraqi ties following last month's Washington-directed airstrike that killed a high-profile Iranian general on Iraqi soil. (AP Photo/Nabil al-Jurani, File)

US gives Iraq sanctions waiver for Iranian gas and electricity imports

Arab News 

 


The new waiver gives Iraq just 45 days to show Americans that it is making good on conditions to boost domestic gas supply

Oil & Gas Publishers Note: Please note the flaring in the background. The United

February 15, 2020 - 6:48 am Crude Oil News, Economy, International, Politics & Opinions
Oil prices edge down as traders assess China’s oil demand, await OPEC+ cuts

Oil prices edge down as traders assess China’s oil demand, await OPEC+ cuts

BOE Report


Oil is off more

February 10, 2020 - 1:50 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News, Economy
There’s more oil and gas than ever — and the industry is tanking

There’s more oil and gas than ever — and the industry is tanking

AXIOS


The world’s oil and natural gas companies are drilling their way into financial and social hell.

Oil & Gas 360 Publishers Note: Amy Harder has some excellent points backed up with facts and data. This is a good read

Chinese LNG demand set to be slashed by Coronavirus

Chinese LNG demand set to be slashed by Coronavirus

LNG Industry


The unseasonably warm weather in the northern hemisphere has undercut LNG demand and, combined with the steady rise of global supply levels, has resulted in record-low prices. Adding insult to injury, the coronavirus epidemic in China has reduced

February 10, 2020 - 11:50 am China, Closing Bell Story‎, Economy, LNG
EIA projects total U.S. energy-related CO2 emissions to be relatively flat through 2050

EIA projects total U.S. energy-related CO2 emissions to be relatively flat through 2050

EIA


Oil & Gas 360 Publishers Note: Flat is better than increase. Transforming the current energy structure is a momentous task, and needs to be implemented while keeping the economy going. People need to remember – The United States is

Rystad Energy: potential US fraccing ban would have little immediate impact on nationwide oil and gas production

Rystad Energy: potential US fraccing ban would have little immediate impact on nationwide oil and gas production


From a valuation perspective, a fraccing ban would theoretically affect the full acreage potential and hence negatively impact the total portfolio value for some E&Ps. Rystad Energy research indicates that as much as US$36.5 billion in upstream asset
GREG NASH

Sanders introduces bill to ban fracking

The Hill



Sen. Bernie Sanders (I-Vt.) this week introduced a bill that aims to ban hydraulic fracking.

The bill was introduced on Tuesday and is titled “a bill to ban the practice of hydraulic fracturing, and for other purposes,” according …

Opec ready to act as coronavirus hits oil price: Update

Opec ready to act as coronavirus hits oil price: Update

Argus


Adds comments from Opec source and updates China imports total

Dubai, 27 January (Argus) — Concern about the potential impact of the Chinese coronavirus outbreak on oil demand is putting mounting pressure on crude prices, outweighing Libyan supply disruptions …

January 27, 2020 - 7:24 am Closing Bell Story‎, Crude Oil News, Economy, International, OPEC
EIA forecasts U.S. crude oil production growth to slow in 2021

EIA forecasts U.S. crude oil production growth to slow in 2021

EIA


EIA’s U.S. crude oil production forecast is based on the West Texas Intermediate (WTI) price forecast in the January 2020 STEO, which rises from an average of $57 per barrel (b) in 2019 to an average of $59/b in

Cushing Asset Management and Swank Capital Announce a Constituent Change to The Cushing 30 MLP Index

Cushing AE; Asset Management and Swank Capital Announce a Constituent Change to The Cushing; 30 MLP Index

Source: Houston Chronicle

Apache closing San Antonio office, cutting nearly 300 jobs

Houston Chronicle


Apache Corp. is closing its San Antonio office and eliminating more than 270 jobs  as part of a reorganization process designed to cut costs.

The Houston-based oil and gas producer had a difficult 2019 as its stock value …

January 9, 2020 - 10:00 am Closing Bell Story‎, Economy, Energy News, Jobs
Source: Reuters

Occidental starting widespread layoffs in Houston and beyond

Chron

 


Occidental Petroleum is initiating a broad layoff effort this week that will stretch from Houston to Denver as the Permian Basin’s leading oil producer aims to cut costs in the aftermath of its massive $38 billion acquisition of …

Nabors Prices $1 Billion in senior guaranteed notes offering

Nabors Prices $1 Billion in senior guaranteed notes offering

360 Feed Wire 


The notes will be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)

Nabors Announces offering of senior guaranteed notes - oilandgas360HAMILTON, BermudaJan. 7, 2020 /PRNewswire/ -Nabors Industries Ltd. …

Moody’s sees growing risk to Mideast economy in wake of turmoil

Moody’s sees growing risk to Mideast economy in wake of turmoil

January 6, 2020 - 2:27 pm Commodity Pricing, Economy, Press Releases
The Fed: Impact of oil price spike on U.S. economy ‘more muted’ than a decade ago, says Dallas Fed’s Kaplan

The Fed: Impact of oil price spike on U.S. economy ‘more muted’ than a decade ago, says Dallas Fed’s Kaplan

The Fed: Impact of oil price spike on U.S. economy ‘more muted’ than a decade ago, says Dallas Fed’s Kaplan

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Freightwaves


Flatbed truckload operators have been unprofitable for most of 2019

Oil & Gas 360 Publishers Note: We have been watching the Oil Field Service (OFS) take serious losses due to the investor demand for short-term returns. Investors are …

FOXBOROUGH, MA - DECEMBER 29: Isaiah Ford #84 of the Miami Dolphins is tackled by members of the New England Patriots during the fourth quarter of a game at Gillette Stadium on December 29, 2019 in Foxborough, Massachusetts. (Photo by Billie Weiss/Getty Images)

European gas prices fall as Ukraine, Russia deal averts crisis

EnergyVoice


European gas and power prices extended declines after a last-gasp accord between Russia and Ukraine on natural gas flows averted a winter supply crisis.

The two former Soviet allies late on Monday signed all agreements necessary to continue flows …

Source: Reuters

Oil hits three-month high on upbeat data, Middle East tension

Reuters


NEW YORK – Oil prices rose on Monday to three-month highs, lifted by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following U.S. air strikes in …

Asia Markets: Asian markets mixed with eyes on North Korea, U.S.-China trade deal

Asia Markets: Asian markets mixed with eyes on North Korea, U.S.-China trade deal

FinancialPress


Asian shares were mixed Monday as investors awaited updates on the signing of a trade deal between the U.S. and China and kept a wary eye on North Korea.

Asia Markets: Asian markets mixed with eyes on North Korea, U.S.-China trade deal - oilandgas360

Tokyo’s Nikkei 225 index

NIK, -0.76%

fell 0.7%, while Hong Kong’s …

Dallas Fed Q4 Energy Survey – Oil and Gas activity, employment slip lower

Dallas Fed Q4 Energy Survey – Oil and Gas activity, employment slip lower

Dallas Fed


What’s New This Quarter

Special questions this quarter focus on capital spending in 2020, the price of oil needed to cover firms’ capital spending plans next year and the main causes of flaring in the Permian Basin.

Fourth Quarter Dallas Fed Energy Survey - oilandgas360

Activity …

Natural gas production headed for a slow-down in 2020

Natural gas production headed for a slow-down in 2020

State Impact Pennsylvania


Pennsylvania, Ohio and West Virginia accounted for one third of the country’s shale gas production in 2019.

Natural gas production headed for a slow-down in 2020 -oilandgas360

The region’s Marcellus and Utica shale gas producers had a banner year in 2019.  Pennsylvania, Ohio and West Virginia together …

Factbox: How China tariffs on U.S. commodities, energy stand after Phase 1 trade deal

Factbox: How China tariffs on U.S. commodities, energy stand after Phase 1 trade deal

Reuters


BEIJING/SINGAPORE  – China and the United States have agreed terms of a Phase 1 trade deal under which the United States reduced some tariffs and Beijing canceled retaliatory duties that were scheduled to take effect on Dec. 15.

Factbox: How China tariffs on U.S. commodities, energy stand after Phase 1 trade deal - oilandgas360

Before …

‘It’s a complete mess’: Energy market in flux ahead of a global shipping revolution, analysts warn

‘It’s a complete mess’: Energy market in flux ahead of a global shipping revolution, analysts warn

CNBC


The new regulations are the result of a recommendation that came from a subcommittee at the United Nations (UN) more than a decade ago and was adopted in 2016 by the UN’s IMO, which sets rules for

Asia Markets: Asian markets lackluster after yet more records on Wall Street

Asia Markets: Asian markets lackluster after yet more records on Wall Street

Asia Markets: Asian markets lackluster after yet more records on Wall Street

December 20, 2019 - 5:41 am Closing Bell Story‎, Economy, International, Press Releases
Asia Markets: Asian stocks rally on apparent U.S.-China trade progress

Asia Markets: Asian stocks rally on apparent U.S.-China trade progress

Asia Markets: Asian stocks rally on apparent U.S.-China trade progress

December 13, 2019 - 4:36 am Economy, Energy News, Finance, International, Press Releases
Commodities declined on loosening supply fundamentals

Commodities declined on loosening supply fundamentals

PRNewswire


Commodities declined on loosening supply fundamentals and improving risk appetite for gold. Energy is affected.

Commodities Declined on Loosening Supply Fundamentals - oilandgas360

Credit Suisse Asset Management observed the following:

  • Industrial Metals declined 4.90%, led lower by Nickel, after both the London Metal Exchange and Shanghai Futures
December 12, 2019 - 10:14 am Closing Bell Story‎, Commodity Pricing, Economy, Energy News
Amin Nasser, chief executive officer of Saudi Aramco, center left, and Yasir Al-Rumayyan, chairman of Saudi Aramco, center right, during the Aramco IPO event in Riyadh, on Dec. 11.Source: Saudi Arabian Oil Co.

Aramco soars in debut to hit market value of $1.88 trillion

Bloomberg


– Aramco is world’s largest after $25.6 billion stock sale

Saudi Aramco shares surged after the oil producer’s initial public offering, valuing the company at a record $1.88 trillion in the culmination of a four-year effort by the kingdom …

December 11, 2019 - 7:20 am Closing Bell Story‎, Economy, Energy News, International, OPEC
Source: nasdaq.com

What deeper OPEC+ oil output cuts mean for the market

Reuters


Saudi Arabia and Russia led a deal on Friday in which OPEC and its allies committed to deeper oil output cuts in the first quarter of 2020 aiming to avert oversupply and support prices.

The group of more than …

Source: Reuters

Saudi, Russia push through deeper new oil cuts

Reuters


Saudi Arabia and Russia spearheaded a deal on Friday in which OPEC and its allies committed to some of the deepest oil output cuts this decade aiming to avert oversupply and support prices.

The group of more than 20 …

Source: Reuters

OPEC, allies agree to deepen oil output cuts

Reuters


VIENNA/LONDON – OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to prevent oversupply in a deal that will apply for an unexpectedly short period of the first three months of …