Energy News

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 →
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 →
Opinion: Saudi Arabia tries to drain oil stocks while protecting customer relationships

Opinion: Saudi Arabia tries to drain oil stocks while protecting customer relationships

Many oil traders have been assuming a sharp drop in Saudi exports By John Kemp LONDON, March 23 (Reuters) – Saudi Arabia faces a difficult balancing act as it tries to work down excess global crude stocks while protecting relationships with important refining customers in the United States and Asia. Saudi Aramco exports most of […]

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 →
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 →
Trump approves Keystone XL pipeline, but a lot of work ahead for TransCanada

Trump approves Keystone XL pipeline, but a lot of work ahead for TransCanada

Keystone XL rejected by President Obama President Donald Trump and his administration approved the TransCanada Keystone XL pipeline on Friday, a move welcomed by the Canadian and American oil industry, but one that angered environmentalists who have sought to block the pipeline for years. Trump’s approval of the pipeline is one of many steps that […]

By March 24, 2017 0 Comments Read More →
World’s biggest LNG buyers create alliance to secure flexible contracts

World’s biggest LNG buyers create alliance to secure flexible contracts

LNG buyers hope to shift power from suppliers to importers The world’s largest LNG buyers, all located in Asia, are teaming up to secure more flexible supply contracts in a move that will shift power to importers from producers as the global liquified natural gas supply grows. Reuters reported on Thursday, Korea Gas Corp, or […]

By March 23, 2017 0 Comments Read More →
Keystone XL pipeline permit to be approved by State Department: Politico

Keystone XL pipeline permit to be approved by State Department: Politico

Keystone XL to transport crude from Alberta oilsands Between now and early next week, the US State Department is expected to green light the construction of the Keystone XL pipeline, according to a report by Politico. The Alberta oilsands to U.S. pipeline was blocked by former President Barack Obama in 2015.  He argued the pipeline […]

By March 23, 2017 0 Comments Read More →