Author Archive: AEN Staff

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Iran oil, energy sector expand with help from Russia

Iran oil, energy sector expand with help from Russia

Iran oil sector recovering from international sanctions Iranian President Hassan Rouhani met with Russian Prime Minister Dmitry Medvedev on Monday in a bid to further develop a warmer relationship that has recently been strengthened by both countries’ involvement in the war in Syria. At the outset of the visit, Rouhani said “I hope that a […]

By March 27, 2017 0 Comments Read More →
Shell, Anadarko may let Permian JV expire to speed up development

Shell, Anadarko may let Permian JV expire to speed up development

10-year long Permian joint venture unlikely to be renewed Royal Dutch Shell and Anadarko Petroleum are exploring the possibility of letting a 10-year joint venture in the Permian Basin expire. The move would allow both companies to split their properties in an effort to speed up development, according to a report by Reuters. A senior Shell executive […]

By March 27, 2017 0 Comments Read More →
OPEC supply cuts extension may not be warranted: Goldman Sachs

OPEC supply cuts extension may not be warranted: Goldman Sachs

OPEC supply cuts not necessary unless supply and demand fundamentals deteriorate Goldman Sachs said an extension of the OPEC supply cuts agreement is not warranted unless there is a deterioration of supply and demand fundamentals. In a note released on Sunday, analysts part of the Global Investment Research Commodities team at Goldman Sachs said OPEC and […]

By March 27, 2017 0 Comments Read More →
Aramco IPO deal sweetened with tax cut by Saudi government

Aramco IPO deal sweetened with tax cut by Saudi government

Aramco IPO: Up to 5 per cent of kingdom’s oil giant Saudi Arabia has cut income tax rates paid by its state-run oil company Saudi Aramco, giving investors more incentive to buy into the proposed Aramco IPO next year. Reuters reports the royal decree issued on Monday and retroactive to Jan. 1, set the firm’s […]

By March 27, 2017 0 Comments Read More →
Oil prices dip again as investors uncertain over OPEC deal extension

Oil prices dip again as investors uncertain over OPEC deal extension

Oil prices falling since mid-March Oil prices continued to slide in trading on Monday due to uncertainty over whether members participating in the OPEC-led supply cut deal would extend the pact into the second half of the year in an effort to reduce the global crude glut. Investors’ concerns were not calmed after the OPCE members and […]

By March 27, 2017 0 Comments Read More →
$1.7 billion Total Texas investment in polyethylene, steam cracker JVs

$1.7 billion Total Texas investment in polyethylene, steam cracker JVs

Total Texas JV with Austria’s Borealis and Canada’s Nova Chemical On Monday, Total announced it will be entering a joint venture with two companies in a steam cracker unit and a new Borstar® polyethylene unit on the US Gulf Coast.  The Total Texas investments are valued at $1.7 billion. The French energy company is expected […]

By March 27, 2017 0 Comments Read More →
Opinion: Goodhart’s Law and the OPEC output deal

Opinion: Goodhart’s Law and the OPEC output deal

Goodhart’s Law: Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes   By John Kemp LONDON, March 24 No evidence has emerged of cheating on the OPEC/non-OPEC production agreement so far. But Goodhart’s Law is a reminder traders should expect countries to try to circumvent any target […]

By March 24, 2017 0 Comments Read More →
US oil rig count up by 21 to a total of 652

US oil rig count up by 21 to a total of 652

Rig count up for tenth straight week The rig count in the United States rose for a tenth straight week, despite pressure on oil prices from rising US production and global crude inventories, according to the weekly report issued by Baker Hughes on Friday. Drillers added 21 oil rigs in the week ending March 24, […]

By March 24, 2017 0 Comments Read More →
Oil prices steady but set weekly loss as glut weighs

Oil prices steady but set weekly loss as glut weighs

Oil prices little changed in thin trading Friday Oil prices were up slightly in thin trading on Friday and weekly losses for oil were on track for a drop of about 2 per cent as investors remained concerned over the crude glut. WTI crude futures were up 3 cents to $47.73 by 11:24 a.m. EDT, set for […]

By March 24, 2017 0 Comments Read More →
Private Russian oil companies support OPEC supply cut deal

Private Russian oil companies support OPEC supply cut deal

  OPEC counts on Russian oil output cuts Private Russian oil producers who were sceptical of OPEC’s supply cut deal are now lining up behind an extension to the pact after recent oil price increases made up for lost income. The Kremlin will ultimately make any decision concerning Russia’s involvement in the deal, but Reuters […]

By March 24, 2017 0 Comments Read More →