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Month: October 2016

Category:
  • Saudi Arabia

How a Saudi Royal Sparked an OPEC Deal and Sent Oil Prices Past $50

Saudi Arabia Deputy Crown Prince Mohammed bin Salman attends the G-20 opening ceremony at the… Saudi Arabia’s deputy crown prince sent his energy minister to an OPEC meeting last month Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Aramco prepares to publish its accounts for first time

Saudi Aramco is preparing to give investors unprecedented access to its accounts, lifting the lid on the world’s biggest oil producer ahead of a planned initial public offering in 2018. Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Chad

Exxon disagrees with court’s $75 billion fine for its Chad consortium

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. N’DJAMENA ExxonMobil said on Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Chad

Exxon Is Hit With Fine From Chad That’s Five Times Country’s GDP

A court in Chad told Exxon Mobil Corp. to pay a record fine of $74 billion, as well as $819 million in royalties it said the oil company owed to Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Nigeria

Nigerian Oil Anxieties Mount, Even With OPEC Exemption

Nigerian military forces OPEC may have given Nigeria a pass on the output cuts expected to be divvied out officially at the close of November, but it’s D-Day for the Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Venezuela

Exclusive: PDVSA eyes $4.7 billion debt issue to pay service companies

Venezuelan state oil company PDVSA is seeking to issue up to $4.7 billion in debt securities to settle unpaid bills to contractors, according to a document seen by Reuters, as Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Brazil

Brazil Opens Oil Fields to Foreign Firms in Key Policy Shift

Brazil’s Congress votes to open up its pre-salt oil fields to foreign investors by scrapping Petrobras’ obligation to be the area’s sole operator. (Bloomberg) — Brazil’s Congress voted on Wednesday Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • OPEC
  • USA

OPEC Crude Accounts For Most Of U.S. Oil Imports Rise

Reversing a five-year-long decline trend, U.S. gross crude imports rose by 7 percent, or by 528,000 barrels per day, in the first half of this year compared to the same Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • Shale Oil

Interview: EIA’s Sieminski calls US shale response key to OPEC freeze deal’s sucess

The response of US shale production over the next two months may well impact how OPEC decides to finalize the tentative production freeze it announced last week in Algiers, the Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple
Category:
  • United Kingdom

UK Government Gives Go-Ahead for Fracking in NW England

The UK Department of Communities and Local Government rules that Cuadrilla Resources can proceed with shale gas exploration, including hydraulic fracturing, at its Preston New Road site in Lancashire. The Continue Reading

Posted On : 7 Oct 2016 Published By : Tom Whipple

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