EIA estimates OPEC crude oil and other liquids production increased 3% to 39.3 million b/d in 2016 Crude oil prices ended the year above $50 per barrel. Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end […]
Crude oil prices increased in 2016, still below 2015 averages Read More »
Ohio continues to improve its regulatory system to keep pace with industry activity, minimizing induced seismic activity By Jackie Stewart, EnergyInDepth Not only has Ohio Utica Shale production surged to unprecedented heights the past five years, the Buckeye State has established itself as a shining example of how to effectively manage and mitigate induced seismicity through
Ohio chief regulator: ‘No felt earthquakes From injection wells’ in 5 years Read More »
Rosneftegaz deal with Qatar Investment Authority, Glencore MOSCOW, Jan 4 (Reuters) – Russian state holding company Rosneftegaz on Wednesday closed a deal with the Qatar Investment Authority (QIA) and commodities trader Glencore to sell a 19.5 percent stake in state-owned oil major Rosneft, Rosneft said. The privatisation deal, which Rosneft Chief Executive Igor Sechin called
Russia’s Rosneftegaz closes Rosneft privatisation deal Read More »
DCP Midstream enterprise value of $11 billion Jan 4 (Reuters) – DCP Midstream Partners LP said it had acquired the assets of a joint venture between Phillips 66 and Spectra Energy Corp, to create the largest natural gas liquids producer and gas processor in the United States. The combined company, which has an enterprise value
DCP Midstream Partners to buy assets of Philips-Spectra JV Read More »
Tillerson committed to State Department that, if confirmed, he would sell the 600,000 shares in ExxonMobil he owns Exxon Mobil Corporation has reached an agreement with former CEO Rex Tillerson to sever all ties with the company, allowing him to comply with conflict-of-interest requirements associated with his secretary of state nomination, according to an Exxon press
ExxonMobil, Tillerson reach agreement to comply with conflict of interest requirements Read More »
Tehran denies Iranian pipeline attack DUBAI, Jan 4 (Reuters) – Arab separatist militants in Iran said on Tuesday they had blown up two oil pipelines in coordinated attacks in the western Khuzestan region two days earlier, though this was subsequently denied by Iran’s Interior Ministry. The group, the Arab Struggle Movement for the Liberation of al-Ahwaz, said on
Arab separatists claim western Iranian pipeline attack Read More »
Encana dropping costs, increasing output Jan 4 (Reuters) – Canadian oil and natural gas producer Encana Corp said on Wednesday it expects its margins in 2017 to exceed its previous target on lower costs and an expected rise in output in the second half of this year. The company also said it expects production from its
Encana expects 2017 margins to top previous forecast Read More »
US natural gas prices fall due to warmer than expected winter By John Kemp LONDON, Jan 4 (Reuters) – US natural gas prices plunged on Tuesday amid forecasts that temperatures will be average or higher across most population centres by the middle of January. Earlier forecasts had predicted colder temperatures would persist through most of January, boosting
Opinion: US natural gas prices tumble, but market is tightening Read More »
Oil prices up two per cent in trading on Wednesday By Jessica Resnick-Ault NEW YORK, Jan 4 (Reuters) – Oil prices rose nearly 2 per cent on Wednesday on expectations U.S. crude inventories have dropped and on signs that the world’s top oil exporters will stick to agreed output cuts that took effect this week. Global benchmark
Oil prices rise amid expected drop in U.S. crude inventories Read More »
Mexican protesters stand up to high gas prices MEXICO CITY, Jan 3 (Reuters) – Blockades of fuel storage terminals by protesters angered by a double-digit increase in gasoline prices has led to a “critical situation” in at least three Mexican states, state oil company Pemex said on Tuesday. There were distribution problems in northern Chihuahua
Mexican protesters’ blockades cause “critical situation” – Pemex Read More »
