Category Archives: News

Surprise Oil Inventory Build Shocks Markets

The American Petroleum Institute (API) reported a surprise build of 3.097 million barrels in United States crude oil inventories, compared to an S&P Platts’ survey of analysts that expected inventories would draw down by 400,000 barrels for the week ending October 6. Gasoline inventories, according to the API, saw a decrease of 1.575 million barrels for the week …

Source: Oilprice.com

Is Iraq On The Brink Of Civil War?

For much of the past month, the Kurdistan referendum on independence and its possible implications for the region have dominated news headlines from the Middle East. The fate of Kurdistan-controlled oil production and exports in the face of Turkish threats to cut off the main export route for Kurdish oil, and Iraq’s call to the neighbors and the world to …

Source: Oilprice.com

Petronas’ Canadian unit to look at other LNG opportunities -exec

Progress Energy, a wholly-owned unit of Malaysia's Petronas, will look at other liquefied natural gas opportunities as a way to monetize its Canadian gas assets after Petronas scrapped a $29 billion LNG project this year, a company executive said on Wednesday. Petronas , the Malaysian state-owned energy company, abandoned plans to build the Pacific Northwest [Read More…]

Source: BOE Report

Busting The Lithium Bubble Myth

Forget about oversupply of lithium, and ignore the naysayers. There’s no bubble here. Everyone’s talking about electric cars, and lithium miners are getting more than a kick out of it. They’re enjoying share price rallies and better growth prospects, all thanks to boisterous demand-growth predictions. Since lithium demand won’t stop growing, voices caution of a lithium bubble that will someday …

Source: Oilprice.com

Gazprom allocated RUB 1 billion for gasification purposes in the Republic of Karelia. Construction is completed for two inter-settlement gas pipelines in the Olonetsky District. The Volkhov – Segezha – Kostomuksha gas pipeline branch is being designed with the purpose of bringing natural gas to the Medvezhyegorsky and Segezhsky Municipal Districts and the Kostomukshsky City District. Design documentation is being prepared for three gas pipeline branches, three gas distribution stations, and 13 gas pipelines in the Pitkyarantsky, Lakhdenpokhsky and Sortavalsky Districts, as well as for five gas pipelines in the Pudozhsky District.

Gazprom allocated RUB 1 billion for gasification purposes in the Republic of Karelia. Construction is completed for two inter-settlement gas pipelines in the Olonetsky District. The Volkhov – Segezha – Kostomuksha gas pipeline branch is being designed with the purpose of bringing natural gas to the Medvezhyegorsky and Segezhsky Municipal Districts and the Kostomukshsky City District. Design documentation is being …

Source: FB-RSS feed for Gazprom

Is The War On Coal Really Over?

“The war against coal is over.” That was the claim from EPA chief Scott Pruitt ahead of his announcement that he would rewrite a signature climate change program from the Obama era. On Tuesday, Pruitt’s EPA proposed to withdraw the Clean Power Plan (CPP), a controversial step that seeks to roll back the clock on arguably the most important …

Source: Oilprice.com

France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects

As part of efforts to support energy transition, France’s biggest listed bank, BNP Paribas, said on Wednesday that it would no longer do business with companies whose main business is exploration, production, trading, or marketing of oil and gas from shale or tar sands projects.    In one of the latest signs that the banking industry is evaluating the wisdom …

Source: Oilprice.com

Lundin Petroleum Spuds Exploration Well on Hufsa Prospect in the Southern Barents Sea (Wednesday, 11 October 2017)

Lundin Petroleum AB (Lundin Petroleum) has announced that its wholly-owned subsidiary, Lundin Norway AS (Lundin Norway), has commenced drilling of exploration well 7219/12-2 on the Hufsa prospect in PL533, in the southern Barents Sea.

The well is located in PL533, south of the Filicudi oil discovery and the large Statoil operated Johan Castberg oil discovery.

@[email protected]

The Hufsa prospect has …

Source: The latest Oil and Gas Industry News – from oilandgaspeople.com

LNG Canada CEO says Canadian projects can be competitive despite higher costs

CALGARY – The CEO of the LNG Canada project led by Royal Dutch Shell PLC says he remains optimistic about the industry’s prospects despite growing global competition, high construction costs in Canada and the recent cancellation of two other proposed terminals. Andy Calitz says he believes Canada’s low-cost natural gas and relatively closer location to [Read More…]

Source: Headlines – BOE Report

Core Finance CEO interview: Peter Levine of President Energy

CEO of President Energy, Peter Levine, talks about the company’s well programme at the very recently acquired Neuquen Basin assets at Puesto Flores and Estancia Vieja. “Argentina (and South America) is the right place to be,” says Levine while discussing

The post Core Finance CEO interview: Peter Levine of President Energy appeared first on Malcy's Blog.

Source: Malcy's Blog

Chinese Teapots Create $5B JV To Compete With State Firms

Six Chinese teapot refiners have registered a US$5 billion (33 billion yuan) joint venture to pool funds and investments in order to compete with state-owned giants in an oversupplied domestic fuels market. The joint venture is called Shandong Refining & Chemical Group, and has six independent refiners and a fund backed by the Shandong province as shareholders, Zhang Liucheng, a …

Source: Oilprice.com

Pembina Pipeline Corporation Declares Quarterly Preferred Share Dividends, Announces Third Quarter 2017 Results Conference Call and Webcast Details and Appoints New Board Members

CALGARY, Oct. 11, 2017 /CNW/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today that its Board of Directors declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 9, 11, 13, 15, 17 and 19. Series 1, 3, 5, 7, 9, 11 and 13 preferred share [Read More…]

Source: BOE Report