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Industry Headlines

Top Oil Market Summons Poseidon to US-Mideast Crude Fight
Tuesday, July 18, 2017 Poseidon is the latest grade similar in quality to Middle East supply to lure a buyer in the world's biggest oil consuming region.
ExxonMobil Says Will Drop Discussions Over Indonesia's East Natuna
Tuesday, July 18, 2017 Difficulties with the field, first discovered in the 1970s, have included contract disputes and remoteness.
Next Mexico Deepwater Oil Tender May Draw from Three Gulf Basins
Tuesday, July 18, 2017 The auction will likely take place in January, although no fixed date has yet been set.
Kemp: US Uncompleted Well Backlog Hangs Over Oil Market
Tuesday, July 18, 2017 The problem is concentrated in the Permian Basin of Texas and New Mexico.
Oil Prices Ease on Signs of Steady Output from Some Producers
Monday, July 17, 2017 Oil prices were about 1 percent lower on Monday.
A Newcomer's Guide to Oil and Gas: A Groundbreaking Number
Monday, July 17, 2017 You've submitted more questions. We've got more answers.

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Exploration

Total, BP Unit, YPF Boost Investment in Argentina's Vaca Muerta
Tuesday, July 18, 2017 The investment is the largest specific project announcement since March in Vaca Muerta, one of the world's largest shale formations.
US Said to Stymie Japan's Plan to Explore for Russian Oil
Friday, July 14, 2017 A Japanese group's plans to explore for Russian oil with Rosneft PJSC have been stymied by US intervention over sanctions, according to people.
Trump Administration Approves Eni Plan To Drill Offshore Alaska
Thursday, July 13, 2017 Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015.
Premier Oil Says North Sea Exploration No Longer Attractive
Thursday, July 13, 2017 Premier Oil says that exploring for resources in the North Sea was no longer attractive, a day after it announced a major discovery off Mexico.
Philippine Official: Drilling For Oil In Disputed Sea May Resume This Year
Wednesday, July 12, 2017 Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official says.
Total To Drill For Gas Off Cyprus Despite Collapse Of Peace Talks
Wednesday, July 12, 2017 The 'West Capella' drilling vessel contracted by France's Total and Italy's ENI moved into position to start exploring for gas off Cyprus.
Mexico Oil Privatization Pays Off With Billion-Barrel Find
Wednesday, July 12, 2017 It's the first new find by a private company in the country in almost 80 years, according to consultant Wood Mackenzie.

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Production

OPEC Just Lost a Kitten From Its Unruly Herd of Cats: Gadfly
Tuesday, July 18, 2017 Saudi Arabia is having problems herding cats.
US Shale Oil Output Seen Up for Eighth Month at 5.6 Mln bpd -EIA
Monday, July 17, 2017 The U.S. shale production level reportedly would be the highest since record-keeping began in 2007.
Ghana Oil Boon Not Enough to Plug Budget Hole as Prices Drop
Thursday, July 13, 2017 A surge in Ghana's oil output this year may do little to ease the West African nation's fiscal strains as crude prices are lower than what it budgeted
US Natgas Output Seen Up in 2017, but Still Below 2015 Record
Tuesday, July 11, 2017 U.S. dry natural gas production in 2017 was forecast to rise to 73.30 billion cubic feet per day (bcfd) from 72.29 bcfd in 2016, according to the Energy Information Administration's (EIA) Short Term Energy Outlook (STEO).
Libya's Humanitarian Situation Must Be Factor In Talk Of Curbing Oil Output
Monday, July 10, 2017 Libya's political, humanitarian and economic problems must be considered in any discussions about capping the country's rising oil production.
Engie Brings Norway's Gjoea Oil, Gas Field Back On Stream
Friday, July 07, 2017 The field was shut on June 21 following a gas leak.
Saudi Aramco Says Oil Reserves Steady, Output At Record Ahead Of IPO
Thursday, July 06, 2017 Saudi Aramco says its crude oil and condensate reserves held steady last year despite record production.

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Finance and Investing

Unfazed by Low Prices, Bankers Remain Confident in Oil Lending
Friday, July 14, 2017 Fears of a long spell of low oil prices haven't shaken Wall Street's confidence in the sector.
Britain Seeks Looser IPO Rules To Lure Saudi Aramco, Worries Investors
Thursday, July 13, 2017 Britain wants to loosen rules on listing state companies in a move that could help London win the lucrative IPO of oil giant Saudi Aramco but has raised fears for minority investors.
The Rigzone Interview: Private Equity Cash Focuses on Oil, Gas Development
Thursday, July 13, 2017 Upstream private equity focuses on developing oil and gas assets, energy investment pro Claire Harvey tells Rigzone in exclusive interview.
Brazil Reverses Preliminary Decision On Petrobras Hedge Accounting
Wednesday, July 12, 2017 CVM has reversed a preliminary decision ordering Petrobras to restate financial statements in recent years to include the impact of currency protection on debt and other balance sheet items.
Australian-Owned Group To Raise Money For Israel Shale Oil Project
Wednesday, July 12, 2017 Israel's REM Energy partnership issued a prospectus for an offering on the Tel Aviv Stock Exchange to raise money to advance the country's largest shale oil project.
Azeri State Oil Company SOCAR Says Returned To Profit Last Year
Friday, July 07, 2017 SOCAR made a net profit of 350 million manats ($206 million) last year.

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Company Operations

New UK Listing Rules Set to Attract State Companies Beyond Aramco
Monday, July 17, 2017 Saudi Arabia, Oman and Abu Dhabi have all announced plans in the past year to float some of their oil assets.
Centrica Merges Oil Business with Bayerngas to Tap Younger Fields
Monday, July 17, 2017 Centrica will own 69 percent of the new entity and raise its interests in younger fields.
SBM Offshore, Repsol to Get $247 Million in Yme Insurance Settlement
Monday, July 17, 2017 SBM Offshore and Repsol will share an insurance payment of $247 million, less legal costs, related to a troubled Norwegian offshore project.
Diplomat: Russia's Rosneft Plans To Open Mozambique Office
Thursday, July 13, 2017 Rosneft is preparing to open an office in Mozambique, a senior Mozambican diplomat says.
Shell To Sell Stake In Corrib Gas Field In Ireland For $1.23B
Wednesday, July 12, 2017 Shell to sell its 45% stake in the Corrib gas venture to a unit of Canada Pension Plan Investment Board (CPPIB) for up to $1.23 billion
Ophir Energy Cuts Cost; Eliminates Staff
Wednesday, July 12, 2017 British oil and gas explorer cuts 15% of its global workforce as it "right sizes" for new FLNG Project.

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Policy

Trump Administration Reduces Royalty Rates In First US Oil, Gas Lease Sale
Thursday, July 13, 2017 The Trump administration announces its first offshore oil and gas lease sale.
Could Argentinian Politics Beat the Vaca Muerta?
Monday, July 10, 2017 Upcoming election results could jeopardize the current administration's tenure and snuff out the oil and gas industry's confidence in one of the world's richest shale basins.
Climate Change Action Needs To Go Beyond Paris Accord, Macron Says
Thursday, July 06, 2017 Climate change action needs to go beyond the 2015 Paris agreement, French President Emmanuel Macron says.
Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals
Thursday, June 29, 2017 The Tanzanian government submitted three bills to parliament on that would allow it to force mining and energy companies to renegotiate their contracts, the latest in a string of moves that have alarmed foreign investors.
Document: Trump Admin To Suspend Rule On Natural Gas Waste
Wednesday, June 14, 2017 The Trump administration will suspend compliance dates on a rule limiting methane emissions from oil and gas companies working on public lands as soon as Thursday.
UK Hung Parliament Can Only Lead to Potential For 'Further Uncertainty'
Friday, June 09, 2017 A hung parliament in the UK can only lead to the potential for further uncertainty for the region's oil and gas industry, Michael Burns, oil and gas partner at law firm Ashurst tells Rigzone.

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Refining

German Diesel Makers Get Reprieve as Home States Reject Bans
Tuesday, July 18, 2017 Germany is wrestling over the future of diesel autos.
China June Oil Refinery Throughput Close to Record
Monday, July 17, 2017 "Refinery runs were impressive considering that refinery maintenance was still heavy," said Nevyn Nah, analyst at Energy Aspects.
India BPCL Makes Its First US Oil Purchase, Buys Mars, Poseidon
Monday, July 17, 2017 India's Bharat Petroleum Corp has made its first purchase of US oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries said.
Big Oil Just Woke Up to Threat of Rising Electric Car Demand
Friday, July 14, 2017 The world's biggest oil producers are starting to take electric vehicles seriously as a long-term threat.
First Signs of Oil Market Rebalance Are Showing in New York
Friday, July 14, 2017 New York gasoline traders have figured out something the rest of the oil world is dying to know how to do: balance the market.
TWITTER POLL: Rigzone Readers Weigh In on Volvo's All-electric Decision
Friday, July 14, 2017 Nearly one-quarter of respondents in a Rigzone Twitter poll see negative implications for refiners.
Oil Sands Help Shale Stymie OPEC's Effort to Rebalance Market
Thursday, July 13, 2017 OPEC producers are finding that shale oil drillers aren't their only adversaries in their battle to drain a three-year crude glut.

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Biofuels

A Solar Eclipse Could Wipe Out 9,000 Megawatts of Power Supplies
Friday, July 14, 2017 The eclipse set to darken skies next month threatens to sideline solar farms and rooftop panels in a wide swath of the U.S., wiping out enough power generation to supply about 7 million homes.
IEA: Electricity Investment Overtakes Oil, Gas for First Time Ever in 2016
Tuesday, July 11, 2017 Investments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts, the International Energy Agency (IEA) said.
Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020
Monday, July 10, 2017 Shell plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.
We Grow Fuel Here: Fighting the Oil Slump by Bartering for Grain
Friday, July 07, 2017 YPF SA is expanding into a vibrant local farm industry and gain access to dollar-based export markets for grain.
Driving Under the Influence in Car Powered by Whisky Biofuel
Friday, July 07, 2017 Alcohol and automobiles famously do not mix - but one Scottish scientist has disproved that maxim.
Chilean Scientists Produce Biodiesel From Microalgae
Monday, July 03, 2017 Biodiesel made from microalgae could power buses and trucks and reduce greenhouse gas emissions by as much as 80%.

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Petrochemical

S.Korea's Hanwha Total Says Naphtha Cracker Shut After Lightning Strike
Monday, July 17, 2017 South Korea's Hanwha Total said on Monday its naphtha cracker in Daesan has been shut due to power outages caused by a lightning strike.
Asia's Naphtha Trapped in Downward Spiral as Supply Glut Hits
Monday, July 17, 2017 Asia is being hit with a naphtha supply glut that could push the market down further.
Linde to Build New PP Line at Braskem Texas Site
Tuesday, July 11, 2017 The project is expected to employ approximately 1,000 development and construction workers.
France's Arkema Looks to Specialty Chemicals to Drive Growth
Tuesday, July 11, 2017 Arkema plans to invest around 300 million euros ($341.76 million) to achieve a 50 percent production capacity increase for polyamide 11.
Saudi's Sadara Chemical Starts Propylene Glycol Plant
Monday, July 10, 2017 Sadara Chemical starts production at its propylene glycol plant.
Zhejiang Starts Construction Of China's First Private Oil Refinery Site
Monday, July 10, 2017 Zhejiang Petrochemical started construction of the first phase of its oil refining and petrochemical complex.

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Pipelines

US Court Gives Environmental Regulator 14-day Extension on Methane Rule
Friday, July 14, 2017 A U.S. court gave the U.S. Environmental Protection Agency 14 extra days to comply with a July 3 order requiring the EPA to enforce rules on methane leaks in oil and gas equipment, which the agency had sought to freeze, a filing showed.
Texas Oil Market With Spare Pipeline Space Shrugs Off Shutdown
Friday, July 14, 2017 Oil markets shrugged off a spill that shut a pipeline crossing Texas, signaling no immediate shortage of space to haul crude from the region's prolific Permian Basin to Houston-area refineries.
Magellan Midstream Partners Pipeline Ruptures In Texas, Forcing Evacuations
Thursday, July 13, 2017 A crude oil pipeline operated by Magellan Midstream Partners ruptured near Bastrop, Texas, on Thursday morning, spilling an estimated 1,200 barrels of oil.
Poland Sees North-South Gas Corridor Ready By 2022
Thursday, July 13, 2017 Gaz-System expects the North-South Gas Corridor linking LNG terminals in Poland and Croatia to be ready by 2022.
Gazprom Says Possible U.S. Sanctions May Delay Nord Stream 2, Turkish Strm
Monday, July 10, 2017 Potential new U.S. sanctions against Moscow may delay some of Gazprom's projects.
Poland, Croatia Gas Operators to Speed Up North-South Gas Corridor
Friday, July 07, 2017 The deal is designed to boost the LNG market in central Europe, the operators said.

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Terminals and Storage

Magnitude 4.2 Earthquake Strikes Near Cushing Oil Storage Hub
Friday, July 14, 2017 An earthquake with a preliminary magnitude of 4.2 struck Stroud, Oklahoma, about 20 miles (32.2 km) from the key oil storage hub in Cushing, Oklahoma, the Oklahoma Geological Survey (OGS) said.
Traders Shift Oil Products Out of Tanks as Short-Term Demand Soars
Friday, July 14, 2017 Some energy traders in Southeast Asia are cutting their use of storage tanks as short-term demand for oil products soars, hitting companies that rent out storage at a time when many of them have just expanded their capacity.
Oil Traders Turn Bespoke Crude Tailors in Offshore Megastore
Wednesday, July 12, 2017 The biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge.
Top Iran Oil Tanker Firm NITC Says Shipments To Europe Increasing
Monday, July 10, 2017 NITC, Iran's leading oil tanker operator, said its shipments to Europe were increasing daily.
Canada Orders Seizure Of Oil Tanker Carrying Crude From Iraqi Kurdistan
Wednesday, July 05, 2017 The Federal Court of Canada has ordered the seizure of a 721,915-barrel cargo of crude from Kurdistan.
Libyan Crude Gushes Into Tankers as Nation's Output Accelerates
Wednesday, June 28, 2017 Libyan oil shipments are poised to hit the highest in at least three years in the latest sign the North African country is managing to sustain a production revival.

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LNG/LPG

Petronet Eyes 2019 Rescue for Nearly Idle $700 Million LNG Plant
Tuesday, July 18, 2017 The only LNG terminal in southern India reportedly is operating at about 10 percent of its 5 million-ton-a-year capacity.
Big Oil Sees Salvation in Gas, But What If It's a Wrong Bet?
Tuesday, July 18, 2017 The trends that are undercutting optimism about the global gas outlook are already playing out in Europe.
Canada's LNG Failure Is Its Own Fault, Seven Gen Founder Says
Monday, July 17, 2017 Businesses can't rely on the government to push projects past the objections of local communities, said Pat Carlson.
LNG Prices Stay Low as Oversupply Dogs Market
Friday, July 14, 2017 The Asian market for liquefied natural gas (LNG) remained subdued this week, weighed down by oversupply concerns and as the northern hemisphere exits its high demand summer season.
China Expects LNG Receiving Capacity To Reach 100MM Tonnes by 2025
Wednesday, July 12, 2017 China's LNG receiving capacity is expected to rise 8.6% a year to 100 million tonnes by 2025.
Qatargas Asks Suppliers To Set Up Local Offices Amid Arab Boycott
Wednesday, July 12, 2017 Qatargas has asked its suppliers to set up local operations in Qatar in an apparent bid to shield the Gulf state from further economic sanctions.

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