Energy News

Oil Promise for OMV in the Barents Sea

Norwegian energy regulator examining the latest discovery in a region where Austria’s OMV set a drilling record last year

From UPI

The Norwegian government said Monday it was assessing the discovery of oil from an appraisal well drilled by Austria’s …

September 19, 2017 - 10:42 am Closing Bell Story‎, Energy News

Rosneft Clinches Gas Pipeline Deal with Iraq’s Kurdistan

From Reuters

LONDON, Sept 18 (Reuters) – Russian oil major Rosneft will invest in gas pipelines in Iraq’s Kurdistan, expanding its commitment to the region ahead of its independence vote to help it become a major exporter of gas to …

September 18, 2017 - 6:54 pm Closing Bell Story‎, Energy News

USGS’s Bakken Downgrade to 7.4 Billion Barrels v. Wolfcamp’s 20 Billion Barrels Spurs N.D. Request

Hoeven, Industry want new study of North Dakota oil potential

From the Associated Press/NewsOK

BISMARCK, N.D. (AP) — North Dakota oil drillers and U.S. Sen. John Hoeven want federal geologists to reevaluate the amount of recoverable crude oil in …

September 18, 2017 - 6:45 pm Closing Bell Story‎, Energy News

India’s GAIL Hires French Ship to Ferry US LNG to India for 3 Years Starting in 2018

India’s biggest natural gas marketing company had through the Shipping Corporation of India (SCI) invited bids for hiring four LNG carrying tankers.

From Economic Times

New Delhi: State-run gas utility GAIL India Ltd has chartered an LNG tanker from French …

September 18, 2017 - 5:08 pm Closing Bell Story‎, Energy News

With 39 Million Californians on the Grid and NatGas Out, State Seeks Options

From Utility Dive

With up to 6 GW of gas plants at risk of closure, California energy planners are scrambling for new compensation techniques and zero-carbon alternatives

Accelerating clean energy and climate goals in California have policymakers thinking in unprecedented …

September 18, 2017 - 4:59 pm Closing Bell Story‎, Energy News

Nuns, Activists Aim to Block Williams’ Transco Gas Pipeline

From NBC News

STRASBURG, Pa. – A convent of elderly nuns supported by a group of local activists are all that stand in the way of a billion-dollar pipeline company drilling through almost 200 miles of Pennsylvania countryside.

The Adorers

September 18, 2017 - 4:29 pm Closing Bell Story‎, Energy News

ConocoPhillips, Armstrong, Repsol Bucking Low Oil Prices with Increased Alaska Exploration

 

Multi-stage fracs could make Alaska formations economic

From the Mat-Su Valley Frontiersman

ANCHORAGE — Defying lackluster crude oil prices, ConocoPhillips is planning an aggressive North Slope exploration program this winter.

“We are currently considering up to a five-well winter …

September 18, 2017 - 2:54 pm Closing Bell Story‎, Energy News

Duke, Dominion not Worried about NC’s Atlantic Coast Pipeline Request: Spokesman

From Triangle Business Journal

The N.C. Department of Environmental Quality wants more information from Duke Energy and Dominion Energy before approving the 600-mile natural gas pipeline they’re pushing to build across the state.

In a four-page letter dated Thursday, NCDEQ …

September 18, 2017 - 2:46 pm Closing Bell Story‎, Energy News

Permian Operators to Drillers: We’re All in this Together

From Midland Reporter-Telegram

IADC workshop drills down into how best to develop shale energy

With about 40 percent of the nation’s drilling rigs deployed in the Permian Basin, the International Association of Drilling Contractors gathered in Midland on Wednesday to …

September 18, 2017 - 2:42 pm Closing Bell Story‎, Energy News

Ventana Buys into Oklahoma’s Merge Play

From NewsOK

Oklahoma City oilman Jack Rawdon had many options when his company sold and he was looking for new work.

The former vice president of Oklahoma City-based RKI Exploration & Production LLC had spent his career in the oil …

September 18, 2017 - 10:33 am Closing Bell Story‎, Energy News

Germany’s New Government Must Raise Onshore and Offshore Wind Capacity to 5GW per Year: Industry Leader

From WindPower

The new government in Germany will have to substantially raise onshore and offshore wind energy caps after the federal elections on 24 September 2017, industry leaders have said at the Husum Wind 2017 event.

The leading political figures …

September 15, 2017 - 12:56 pm Closing Bell Story‎, Energy News

NTSB Report on Tesla Crash Blames Autonomous Mode, Driver Errors

From CCJ

Though the driver of a Tesla sedan, which was speeding and operating (against Tesla’s advice) in a fledgling version of an autonomous mode, was mostly to blame for a fatal May 2016 crash in Williston, Florida, the truck …

September 15, 2017 - 11:56 am Closing Bell Story‎, Energy News

OPEC’s Second-Biggest Producer could possibly Split in Two — and Start an Oil War

From CNBC

An oil-rich province in the north of Iraq plans to vote in a referendum on Kurdish independence later this month, prompting fears of regional conflict as tensions escalate over who owns a portion of the country’s crude.

Kurdish …

September 15, 2017 - 11:15 am Closing Bell Story‎, Energy News

Technology Pace is Forcing Faster Change in Many Industries

Industries have to get ahead of changes to be more competitive in the future

From Engineering.com

With Industry 4.0 right around the corner (or maybe it’s already here) manufacturing is about to make an exponential leap forward. We’ve …

September 15, 2017 - 11:12 am Closing Bell Story‎, Energy News

House Votes to Block Funding for EPA Methane Pollution Rule

From The Hill

Lawmakers voted Wednesday to block implementation of a key Environmental Protection Agency (EPA) pollution rule.

The House voted 218-195 to strip funding for an Obama-era EPA effort to limit methane emissions from new oil and gas drilling …

September 14, 2017 - 2:03 pm Closing Bell Story‎, Energy News

Shell Canada, Other Firms Shutting in Gas Wells due to Alberta Wildfire

From The Canadian Press
Shell Canada and other companies were shutting in natural gas wells in southwestern Alberta on Tuesday due to the threat of growing wildfires.

The Alberta Energy Regulator said Shell has shut in 24 wells and associated …

September 14, 2017 - 1:35 pm Closing Bell Story‎, Energy News

Protect U.S.’s Critical Energy Export Role: Lessons from Harvey

U.S.’s new role as a “secure and reliable supplier” is critical to security

From the Council on Foreign Relations

Inventories play a crucial role in oil and gas commodity markets by smoothing out short term dislocations and sudden changes in …

September 14, 2017 - 1:24 pm Closing Bell Story‎, Energy News

U.S. Extends Jones Act Waiver in Wake of Hurricanes

From gCaptain

The Department of Homeland Security’s Acting Secretary, Elaine Duke, has extended the limited Jones Act waiver for tankers that it had issued last week ahead of Hurricane Irma’s landfall in Florida.

The original waiver, which was specifically …

September 14, 2017 - 12:26 pm Closing Bell Story‎, Energy News

Seadrill Files for Bankruptcy in Bid to Shrink Debt Burden

From Bloomberg/gCaptain

Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, filed for bankruptcy protection after working out a deal with almost all its senior lenders to inject $1 billion of new money into the company.

Under …

September 14, 2017 - 12:22 pm Closing Bell Story‎, Energy News

China Will Put 10% Ethanol in its Gasoline by 2020

Government promotes use of biofuel over fossil fuel to help thwart pollution

From China Daily

China has for the first time set a targeted timeline to roll out the use of ethanol in gasoline nationwide for cars by 2020, part …

September 14, 2017 - 11:58 am Closing Bell Story‎, Energy News

Truckloads of Fuel to Plummet Two Thirds by 2030: Economist

From CCJ

Changing economy and logistics: digitized supply chain, automation in global manufacturing will  reduce truck freight volume in 2020s

Long-term freight challenges loom for the trucking industry as the economy and the supply chain become more efficient, more digitized …

September 14, 2017 - 10:19 am Closing Bell Story‎, Energy News

Tech Incubator Disrupting the Law Profession: Atrium

Atrium’s law firm will cater to the early stage startup community, while its software company will cater to its law firm

From The American Lawyer

Atrium has been quietly building intrigue across both the technology and the legal community. The …

September 14, 2017 - 9:58 am Closing Bell Story‎, Energy News

SEC Insider Trading Case v. Denver Oilman Ends in Mistrial

From the Denver Post

Federal securities officials’ five-year pursuit against former oilman Roger Parker on civil charges that he tipped his buddies about billionaire Kirk Kerkorian’s massive investment in his company ended in a hung jury after a week of …

September 13, 2017 - 1:28 pm Closing Bell Story‎, Energy News

Shell will Focus on Basra Gas in Iraq after Majnoon Exit

From Reuters

LONDON (Reuters) – Oil major Royal Dutch/Shell said on Wednesday it would focus its efforts on the development and growth of the Basra Gas Company in Iraq after handing over operations of the Majnoon oil venture back to …

September 13, 2017 - 1:12 pm Closing Bell Story‎, Energy News

Arabian View: When Will Oil Markets Rebalance?

From Arab News

When will the oil market rebalance? The answer to this question much depends on when the current production-cuts agreement between the Organization of the Petroleum Exporting Countries (OPEC) and other producers from outside the group finally ends.…

September 13, 2017 - 1:05 pm Closing Bell Story‎, Energy News

Disaster Prepared: Raymond James Moved Staff, Ops Out of South Florida Ahead of Irma

Company arranged a chartered flight departing for Memphis; some staff went to facilities in other parts of the U.S.

Raymond James on Sept. 8 shifted critical business operations from its St. Petersburg, Florida, base to other facilities nationwide due to …

September 13, 2017 - 11:30 am Closing Bell Story‎, Energy News

Utilities Starting to Like Energy Storage, Even without State Mandates

Across the country, energy storage is moving into prime time for utilities concerned about the ability of their grids to handle intermittent resources

From: Utility Dive

The fact that California’s three investor-owned utilities were at the top of the Smart …

September 12, 2017 - 3:10 pm Closing Bell Story‎, Energy News

Texas Oil Refineries Still Badly Hurting from Harvey

From CNNMoney

NEW YORK (CNNMoney) — Hurricane Harvey packed such a powerful punch that more than a dozen Gulf Coast oil refineries are still hurting two weeks after the storm struck Texas.

Five oil refineries remain shuttered as of Monday, …

September 12, 2017 - 2:10 pm Closing Bell Story‎, Energy News

Iranian Production Up; Oil Shipments Gain Ground in China, Europe

From Freight News

PRODUCTION BOOST

Iran’s oil production has continued to rise in the past few months and is now above its OPEC quota of 3.797 million b/d.

According to a recent Platts OPEC survey, Iranian crude oil production was …

September 12, 2017 - 2:04 pm Closing Bell Story‎, Energy News

Iraq Won’t Immediately Switch Oil Pricing Benchmark

SOMO told customers it needs more time to study a plan to change its price benchmark for Basra crude to DME Oman futures from the average of Platts’ Oman-Dubai prices with effect from January 2018, according to the letter dated …

September 12, 2017 - 1:57 pm Closing Bell Story‎, Energy News