Post Tagged with: "OAG360"

Source: Reuters

Canada says talks with U.S. over pipeline dispute should start soon

Reuters


OTTAWA, Dec 1 – Formal talks between Canada and the United States over a disputed Michigan pipeline should start soon, Ottawa said on Wednesday, the latest development in an affair souring bilateral relations.

Last month Canada invoked a 1977 …

Source: Reuters

Oil prices surge before critical OPEC meeting as volatility spikes

World Oil


SINGAPORE (Bloomberg) –Oil rebounded from another sharp drop as OPEC ministers prepared to meet amid booming volatility.

West Texas Intermediate rallied as much as 4.6% after shedding almost $4 on Tuesday. That selloff was driven by escalating concerns …

Source: Reuters

Lundin Energy sale would be better than a merger

Reuters


LONDON, Nov 30 (Reuters Breakingviews) – Sweden’s Lundin family may be getting itchy feet again. Oil and gas company Lundin Energy (LUNE.ST), in which the family holds a 33% stake, is considering a sale or merger, Bloomberg said

Source: Reuters

National security review stalls sale of Shell U.S. refinery to Mexican state oil firm

Reuters


HOUSTON – A national security review has delayed the sale of Royal Dutch Shell’s controlling interest in a Texas refinery to Mexico’s national oil company Petroleos Mexicanos (Pemex), Shell said on Tuesday.

Shell in May disclosed a sale of …

Onboard Dynamics signs investment agreement with BP Energy Partners

Onboard Dynamics signs investment agreement with BP Energy Partners

Oil and Gas 360


Publisher’s Note: Onboard Dynamics was a presenter at EnerCom’s 2021 The Energy Venture Investment Summit, EnerCom Dallas, and The Oil & Gas Conference.

BEND, Ore.Oct. 5, 2021 /PRNewswire/ — Onboard Dynamics, Inc. (“Onboard Dynamics” …

Carbon+Intel: DNV supports world’s first large-scale testing of submerged CO2 pipelines

Carbon+Intel: DNV supports world’s first large-scale testing of submerged CO2 pipelines

World Oil


OSLO – DNV, the independent energy expert and assurance provider, is working with Wintershall Noordzee (Wintershall) and the OTH Regensburg University of Applied Sciences to explore how existing natural gas pipelines in the southern North Sea can be …

Source: Reuters

U.S. natural gas sinks, on track for worst month in three years

CNBC


U.S. natural gas futures slid Tuesday to the lowest level in nearly three months as warmer-than-expected winter forecasts sent prices tumbling.

The contract for January delivery fell as much as 7% to trade at $4.51 per million British thermal …

Source: Reuters

Enbridge may face tougher fight for oil barrels, lower rates, after pipeline ruling

Reuters


WINNIPEG — A Canadian regulator’s rejection last week of Enbridge Inc’s plan to sell space long-term on the country’s biggest oil pipeline dealt the company a double whammy that analysts say could hit its bottom line.

Enbridge lost a …

Recent legislation would reduce the U.S. Strategic Petroleum Reserve

Recent legislation would reduce the U.S. Strategic Petroleum Reserve

EIA


On Tuesday, November 23, the White House announced plans to make 50 million barrels of crude oil available to the market through a combination of exchanges and accelerating previously announced sales. With these sales and several other legislated drawdowns, …

Source: CNBC

U.S. energy envoy says Biden stands ready to release even more oil reserves to cool markets

CNBC


President Joe Biden’s administration stands ready to release even more barrels of oil from its strategic reserves should the need arise again, according to the U.S. State Department’s senior advisor for global energy security.

“Absolutely. This is a tool

Source: World Oil

Saudi energy minister “not concerned” about Omicron Covid variant

World Oil


(Bloomberg) –Saudi Arabia’s Energy Minister Abdulaziz bin Salman played down the likely fallout from the new coronavirus variant that pummeled oil markets last week.

“I’m a very relaxed person. I’m not concerned,” the minister said when asked how …

November 29, 2021 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International, OPEC
Source: Reuters

OPEC to review potential of latest Covid variant this week

World Oil


MOSCOW (Bloomberg) – OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited.

The comments on …

Source: Reuters

U.S. natgas slumps 10% as warmer weather forecast tempers demand view

Reuters


Nov 29  – U.S. natural gas futures slid more than 10% on Monday, erasing gains from a post-Thanksgiving rally in the previous session, hurt by forecasts for lower-than-usual heating demand over the next two weeks.

On their first trading …

Source: Bloomberg

U.S. seeks to boost oil royalties to account for climate change

World Oil


WASHINGTON (Bloomberg) –The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production.

The …

November 29, 2021 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: CNBC

Oil jumps 5%, recouping some losses following worst day of the year

CNBC


Oil prices jumped on Monday as traders bet that Friday’s sharp sell-off, prompted by fears that the new omicron Covid variant will curb demand for petroleum products, was overdone.

West Texas Intermediate crude futures, the U.S. oil …

Source: CNBC

Oil giant Shell strikes deal to buy power from ‘world’s largest offshore wind farm’

CNBC


Shell said Wednesday it had signed a deal to purchase power from a development dubbed “the world’s largest offshore wind farm.”

The 15-year power purchase agreement relates to 240 megawatts from Dogger Bank C, the third and final phase …

Source: CNBC

Former Trump energy secretary says releasing oil from reserves is ‘bad policy choice’

CNBC


The Biden administration’s decision to release oil from U.S. reserves is a “mistake,” former U.S. Energy Secretary Dan Brouillette said on Wednesday.

“I do think it’s a bad policy choice. There’s no question about that,” he told CNBC’s “Capital

November 24, 2021 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

China so far non-committal to Washington’s oil release, OPEC+ unmoved

Reuters


BEIJING/LONDON/MOSCOW/WASHINGTON -China, the world’s largest crude importer, was non-committal about its intentions to release oil from its reserves as requested by the United States, while OPEC producers were not considering changing tactics in light of the U.S. action, according …

Weekly Gas Storage: Inventories decrease by 21 Bcf

Weekly Gas Storage: Inventories decrease by 21 Bcf

Natural Gas Inventories as of November 19, 2021

The EIA has released its natural gas inventory report, showing a net decrease of 21 Bcf as of November 19, 2021.

Working gas in storage was 3,623 Bcf as of Friday, November …

Source: Reuters

Analysis: Biden’s oil reserves bet mixes China outreach with appeal to U.S. voters

Reuters


WASHINGTON, Nov 23 – President Joe Biden’s historic move to release oil from strategic reserves in coordination with big nations including China represents a unique bet that finding common ground with the United States’ biggest economic rival can help …

Source: CNBC

Oil prices are headed for $100 despite U.S. efforts to release reserves, analyst says

CNBC


Oil prices could climb higher despite the U.S. and other major consumers releasing millions of barrels of oil from their reserves to try to keep energy prices down, one analyst told CNBC.

“It’s not going to work simply because

Source: Reuters

Price impact from oil reserves release unlikely to last long- JP Morgan

Nasdaq


Nov 24  – Any impact on oil prices from a release of crude from strategic petroleum reserves by the United States and other countries may not be sustained for long, JP Morgan Global Commodities Research said on Wednesday.

The …

Source: CNBC

OPEC members Saudi Arabia, Russia consider pausing oil production increases -WSJ

CNBC


LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year.

OPEC and its non-OPEC partners, an energy

Source: Fox Business

Biden oil reserve release an ‘ineffectual band aid’ that won’t replace domestic production, critics say

Fox Business


A number of critics, including the U.S. Chamber of Commerce and former President Trump, opposed President Biden‘s decision to tap into the Department of Energy‘s Strategic Petroleum Reserve, slamming the Biden administration for “ineffectual band aids” …

Source: Reuters

European gas prices rise on U.S.-Russia sanctions, SPR plans

World Oil


LONDON (Bloomberg) – European natural gas futures rose on Tuesday after the U.S. imposed its latest sanctions aimed at Russia’s Nord Stream 2 pipeline, a move the Kremlin says is “illegal.”

Crude’s rise, in response to plans by …

Source: Reuters

U.S. considering a ban on crude oil exports, says House Democrat

World Oil


(Bloomberg) –A House Democrat who’s urging the White House to reduce oil prices by banning exports of U.S. crude oil says he’s been told the idea is under consideration.

Representative Ro Khanna of California said he disagrees with …

Source: Reuters

This is not going to solve much”: Oil prices climb after crude release announcement

World Oil


(Bloomberg) –Oil climbed, erasing an earlier loss, as a landmark plan from consumers to tap their strategic oil reserves was less severe than markets expected.

Futures in New York wiped out losses to trade above $77 a barrel …

Source: Reuters

Shell launches shareholder talks to win backing for HQ move, sources say

Reuters


LONDON – Royal Dutch Shell has launched talks with investors to secure support for its plan to relocate its headquarters from the Netherlands to Britain, sources said, as a leading advisory recommended backing the move at a December vote.

November 23, 2021 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: World Oil

Biden orders release of oil reserves, in a challenge to OPEC

World Oil


WASHINGTON (Bloomberg) –The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India, South Korea and the UK — an unprecedented, coordinated attempt by the world’s largest oil consumers to …