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Month: January 2017

Category:
  • Prices

Oil Set for Monthly Loss as OPEC Cuts Seen Spurring U.S. Supply

Oil is set for its first monthly decline since October as signs that U.S. supply is expanding offset OPEC’s production curbs. Futures lost 0.5 percent in New York and are Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil prices down five percent in January as rising U.S. output offsets OPEC-led cuts

Brent crude oil prices fell around 5 percent from their early January peak as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in an Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Crude Prices Slip as OPEC, U.S. Producers Diverge on Output

Crude prices edged lower Monday as investors weighed growing U.S. output against cutbacks by major oil producers. U.S. crude for March delivery fell 54 cents, or 1%, to $52.63 a Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Trades Near $53 as U.S. Drilling Accelerates Amid OPEC Cuts

Oil traded near $53 a barrel after drilling in the U.S. climbed to the highest in more than a year, countering OPEC’s efforts to clear a supply glut. Futures were Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • OPEC

OPEC Convinces Investors That Its Oil Output Cuts Are Real

OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Analysts See Oil Prices Rising as OPEC Production Cut Bears Fruit

Analysts are raising their oil price forecasts for the first time in five months, even as they continue to see a plethora of risks for this market. Members of the Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Shale Oil

Trump’s Drilling Frenzy Could Upend OPEC Deal

In just thirteen words, a U.S. judge has summed up the problem with almost everything that’s happened since Donald Trump became US President: “I think the government hasn’t had a Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Why Is Everyone So Bullish On Oil?

A Wall Street Journal survey of 15 investment banks finds cautious optimism among oil watchers. The monthly survey is a good barometer for market sentiment, as shifts in price forecasts Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Iraq

U.S. interests in Iraq at risk over Trump provocations

Ten days into his presidency, Donald Trump’s policies and rhetoric have produced a political reaction in Baghdad that could hamper the war against the self-proclaimed Islamic State (IS) group and Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela’s Maduro seen bolstering grip on PDVSA after shake-up

An oilfield worker walks next to pipelines at PDVSA’s Jose Antonio Anzoategui industrial complex in the state of Anzoategui, Venezuela, April 15, 2015. REUTERS/Carlos Garcia Rawlins/File Photo PDVSA’s new senior Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela Names New Leaders At Oil Firm PDVSA To ‘Defeat Corruption’

Venezuela’s president creates an executive vice president post and names new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company. CARACAS, Jan Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • New Zealand

More drilling anticipated for New Zealand

Australian energy company Melbana said Monday it was anticipating drilling success closer to home in New Zealand while keeping its eye on Cuban reserves. Melbana, which rebranded itself last year Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Congress

U.S. lawmaker moves to scrap SEC’s ‘resource extraction’ rule

A senior U.S. lawmaker unveiled a legislative plan on Monday to scrap a rule devised under the 2010 Dodd-Frank financial reform law requiring publicly-traded mining, oil and gas companies to Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Climate

A Climate Change Economist Sounds the Alarm

Some people who study climate change believe that addressing it later — when economic growth has made humanity wealthier — would be better than taking drastic measures immediately. Now, though, Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Mexico

Trump’s Border Tax Could Further Reduce Mexico Oil’s U.S. Ties

U.S. President Donald Trump’s proposed tariff on Mexican goods has the country’s oil industry considering just how much it needs the American market. A 20 percent border tax to build Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • USA

Oil Braces for Trump Ban Fallout as Halliburton Says Stay Put

Halliburton advises affected workers not to come to the U.S. Oil-services giant Halliburton Co. told employees to stay put. Another global oil company is reconsidering whether to place a crude Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • USA

Exxon Set for Early Victory as Congress to Rescind Payments Rule

For years the oil industry has appealed to the executive branch and courts to de-fang a U.S. rule forcing Exxon Mobil Corp. , Chevron Corp. and other producers to disclose Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Pipelines

American steel unlikely to get Keystone boost despite Trump order

When U.S. President Donald Trump signed orders to revive two controversial energy pipeline projects this week, he pledged to require new pipelines to use American-made steel, a gesture to workers Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Russia

Arctic oil production more than doubled, Russia says

Russian oil company Gazprom Neft said its production from a field in Arctic waters more than doubled from levels reported in 2015. The company said total production from the Prirazlomnaya Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Oil Supply

BP Forecasts 50-Year Oil Glut

Oil markets mostly ignored the glum forecast from BP that the world is facing a long-term oil glut that won’t disappear for 50 years. Now that is a forecast and Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • United Kingdom

Shell Sells $4.7 Billion of Fields as Disposal Push Accelerated

Royal Dutch Shell Plc, looking to pare debt swollen by last year’s acquisition of BG Group Plc, accelerated its drive to shed assets on Tuesday by agreeing to the sale Continue Reading

Posted On : 31 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Trades Near $53 as U.S. Drilling Accelerates Amid OPEC Cuts

Oil traded near $53 a barrel after drilling in the U.S. climbed to the highest in more than a year, countering OPEC’s efforts to clear a supply glut. Futures were Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil extends decline as rising U.S. output weighs

Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that would partly offset production cuts by OPEC and other producers. London Brent Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • IEA

IEA does not foresee oil demand peaking soon, Birol says

The International Energy Agency (IEA) does not expects oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said on Monday. Birol also Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • OPEC

OPEC January oil output shows high compliance with supply cut deal: Petro-Logistics

OPEC oil output is set to fall by 900,000 barrels per day (bpd) this month, a company that tracks OPEC supply said on Friday, pointing to a strong start by Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Iran
  • Russia

Lukoil Seeks Middle East Oil Projects for Growth as Iran Opens

Lukoil PJSC is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Aramco Said to Weigh Up to $5 Billion Renewable Deals

Saudi Aramco , the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • OPEC

OPEC May Be Powerless To Stop Lower For Longer

Just a few months after oil prices began to crash from its US$100 level in 2014, BP’s chief executive Bob Dudley warned the industry that it needed “to prepare for Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • China
  • Saudi Arabia

Is The $4 Trillion Saudi Reform Plan Inspired By China?

In an ironic decision, Saudi Arabia’s Muslim rulers, leading anti-Communists of the Cold War, may be adopting the economic management model of the atheist Communist Party of China. But rulers Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • OPEC

OPEC Convinces Investors That Its Oil Output Cuts Are Real

OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Renewables
  • Saudi Arabia

Saudi Aramco Said to Weigh Up to $5 Billion Renewable Deals

Saudi Aramco , the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Climate

Trump adviser predicts clash with Tillerson on climate change

Donald Trump’s vow to pull the US out of the Paris climate change accord could be thwarted by his pick for secretary of state, Rex Tillerson, according to a member Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Oil Supply

Big Oil Firms Look to Save, While Smaller Upstarts Want to Spend

Big oil companies and smaller U.S. upstarts are plotting sharply divergent paths as they plan spending for 2017 after a modest recovery in crude prices. While shale-oil drillers are boldly Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Iran
  • Russia

Russia’s Lukoil hopes for Iran oilfield development decision this year

Lukoil, Russia’s No.2 oil producer, hopes to reach a decision on developing two new oilfields in Iran and wants to expand its operations further in the Middle East this year, Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Russia

Potential impacts of US lifting sanctions on Russian oil sector

US President Donald Trump said Friday ahead of his first conversation with Russian President Vladimir Putin since taking office that it was too soon to know whether to continue US Continue Reading

Posted On : 30 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Fall as Production Increases

Oil futures eased on Friday, with strong drilling activity around the world, especially in the U.S., weighing on the market. Light, sweet crude for March delivery settled down 61 cents, Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil lower on U.S. GDP and trade policies

Crude oil prices retraced steps Friday on reports of a downturn measured in the U.S. economy and uncertainty over the nuances of OPEC’s managed decline. Members of the Organization of Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Heads for Second Weekly Gain as OPEC Continues Output Cuts

Oil headed for a second weekly increase as OPEC and other producing nations continued with output cuts to reduce bloated global inventories and stabilize the market. Front-month futures rose 0.4 Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Prices

Why Oil Can’t Pull Higher In The Near Term

Oil prices are falling on Friday in volatile trading session after having see-sawed on the usual headlines regarding OPEC compliance and U.S. production figures (Click to enlarge) Friday, January 27, Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Yemen

Yemen’s wheat reserves down to three months supply: U.N. official

Yemen has roughly three months supply of wheat left to draw from, leaving the country exposed to serious disruption as a central bank crisis cuts food imports and starvation deepens, Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Iran
  • Pipelines

Iran May Cancel $7B Pipeline Project With Pakistan

Iran has said it may cancel its high-profile, US$7-billion ‘peace pipeline’ project with Pakistan over lengthy construction delays, with would deprive energy-starved Pakistan of the some 22 million cubic meters Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Independent Audit Confirms Saudi Aramco’s Huge Oil Reserves

The external audit of the oil reserves of Saudi Aramco ahead of its planned IPO has confirmed that Saudi Arabia’s oil giant has more than 261 billion barrels of reserves, Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Iran

Iran To Export More Oil In February

Iran’s crude oil and gas condensate exports are expected to rise to about 2.2 million barrels per day in February, thanks to a shipment to Indonesia – the first since Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Aramco Selects US Firms To Audit Its Reserves For IPO

State oil giant Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria: Niger Delta Villagers Can’t Sue Shell in UK for Nigerian Oil Spill, Court Rules

A UK High Court yesterday ruled that two Niger Delta communities devastated by oil spills cannot pursue their case against Shell in the United Kingdom for oil spills that occurred Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Angola

Angola’s March Oil Exports To Drop To 1.51 Million Bpd

Angola’s state-held oil firm Sonangol plans to load 1.51 million barrels per day in March under its finalized exports schedule, down from plans to export 1.62 million bpd in February, Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria Tells Shell, Eni to Temporarily Cede Oil Field Control

A Nigerian court has ordered Royal Dutch Shell Plc and Eni SpA to cede control of a jointly owned oil license to the government amid an investigation into how they Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Lebanon

Lebanon committed to oil, gas transparency

Transparency is a top priority for a Lebanese government looking to bring bidders back to its offshore oil and gas reserves, the energy minister said. Lebanon this week filed a Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • Pipelines
  • USA

Resignation Threatens to Bring U.S. Pipeline Rulings to Halt

A U.S. energy regulator filed his letter of resignation on Thursday. And with that letter, he may have just brought federal decisions on multibillion-dollar natural gas pipelines to a halt. Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple
Category:
  • China

Big Chinese Deals Stall on Capital-Outflows Clampdown

The pace of big Chinese takeovers abroad is slowing as buyers contend with rules tightening the flow of money out of the country and increased government scrutiny at home and Continue Reading

Posted On : 28 Jan 2017 Published By : Tom Whipple

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