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Notley oil production cuts made easier by political enemies   Dec 03, 2018
Well, that was relatively painless. After weeks of struggling with "one of the toughest decisions we will make as a province," Premier Rachel Notley made the decision look easy. She announced Sunday evening her government will force a year-long cut in ... CBC.ca  

ExxonMobil Increases Stabroek Resource Estimate to 5 Billion Barrels; Makes 10th Discovery   Dec 03, 2018
More than 5 billion recoverable oil-equivalent barrels discovered in less than four years Reinforces potential for at least five floating storage, production and offloading vessels producing more ... Yahoo Finance  

Murphy Oil hikes production outlook after sealing JV deal with Petrobras   Dec 03, 2018
Murphy Oil (NYSE:MUR) raises its Q4 and FY 2018 production guidance after closing its previously announced deal to form a Gulf of Mexico joint venture with Petrobras (NYSE:PBR). MUR will own an 80 ... Seeking Alpha  

Hope on climate change doesn't come easily — but action isn't futile   Dec 03, 2018
Hope on climate change doesn't come easily. In addition to sowing doubt about the existence of human-caused climate change, fossil fuel industry members like ExxonMobil have for decades actively undermined the public's belief that anything can be done to ... CBC.ca  

China imports first U.S. crude in two months, traders still wary   Dec 03, 2018
Independent refiner Shandong Yuhuang Petrochemicals received its first ever U.S. crude oil cargo last week, a company executive said ... Unipec and Royal Dutch Shell are seeking to book supertankers to load crude in the U.S. Gulf Coast in late December ... Reuters  

Suncor Energy provides update following Government of Alberta’s decision to cut oil production   Dec 03, 2018
CALGARY, Alberta, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Suncor today confirms it is assessing the impact of the Government of Alberta’s announcement to curtail oil production during 2019. Suncor ... Yahoo Finance  

Forum Energy Technologies Announces C. Christopher Gaut as CEO   Dec 03, 2018
Forum Energy Technologies is a global oilfield products company, serving the drilling, subsea, completions, production and infrastructure sectors of the oil and natural gas industry. The Company ... Yahoo Finance  

Oil Jumps Most Since June on Saudi-Russia Pact and Canada Cuts   Dec 03, 2018
(Bloomberg) -- Oil surged as Saudi Arabia and Russia extended their pact to manage the market and Canada’s largest producing province ordered unprecedented output curbs. After their worst month ... Yahoo Finance  

Brazil's Petrobras to explore for oil and gas with Murphy in Gulf of Mexico   Dec 03, 2018
SAO PAULO (Reuters) - Brazil’s state-controlled Petroleo Brasileiro SA (Petrobras) said on Monday it had sealed a joint venture with Murphy Exploration & Production Company to explore oil and gas fields in the Gulf of Mexico, according to a securities ... Reuters  

Murphy Oil raises full-year production outlook   Dec 03, 2018
(Reuters) - Murphy Oil Corp on Monday raised its fourth-quarter and full-year production forecast, following the closing of a deal to form a Gulf of Mexico joint venture with Brazil’s state-run Petroleo Brasileiro SA. The company now expects to produce ... Reuters  

Alberta bets on oil production cuts but industry remains divided on market intervention   Dec 03, 2018
It led some producers — like Cenovus and Canadian Natural Resources — to call for mandatory production cuts. On Sunday, Cenovus CEO Alex Pourbaix commended the premier for making "the difficult but necessary decision," while Canadian Natural ... CBC.ca  

Qatar's energy minister says country is pulling out of OPEC   Dec 03, 2018
Qatar is the world's biggest exporter of liquid natural gas. Qatar, a country of 2.6 million people where citizens make up over 10 percent of the population, discovered the offshore North Field in ... Yahoo Finance  

Crude Oil Prices - Weekly Outlook: December 3 - 7   Dec 03, 2018
Investing.com - In the week ahead, oil traders will focus on the highly-anticipated Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna on Thursday and Friday. Most market ... Yahoo Finance  

Qatar will pull out of OPEC amid tension with Saudi Arabia   Dec 03, 2018
In a statement, al-Kaabi said Qatar, the world’s largest exporter of liquified natural gas, planned to increase its exports from 77 million tons of gas per year to 110 million tons. He also said Qatar wants to raise its oil production. “In light of ... Associated Press  

 Qatar to leave OPEC in a move that will further weaken OPEC’s rule even though its oil production counts for a small percentage.


UK GAS-Prices up on colder weather, wind forecasts   Dec 03, 2018
National Grid data shows * Supply from liquefied natural gas is also healthy this week with four tankers due to arrive this week * Day-ahead Dutch gas at the TTF hub up 0.60 euro at 24.75 euros ... Reuters  

Murphy Oil Closes Gulf of Mexico Joint Venture, Provides Updated Guidance and Announces New Unsecured Credit Facility   Dec 03, 2018
Murphy Oil Corporation MUR, +0.00% announced today that its wholly owned subsidiary, Murphy Exploration & Production Company - USA, has closed the previously announced strategic deep water Gulf of Mexico joint venture with Petrobras America Inc. (“PAI ... MarketWatch  

India Stocks Fluctuate as Oil, Polls Offset Trade Truce Cheer   Dec 03, 2018
(Bloomberg) -- Indian stocks were volatile on Monday as as the biggest surge in oil prices in two years and uncertainty around the outcome of state elections offset cheer from a U.S.-China trade ... Yahoo Finance  

Daybreak: U.S.-China Trade Truce. Oil Rallies. (Podcast)   Dec 03, 2018
In today’s New York Daybreak podcast, we cover the biggest stories that happened over the weekend. China will "reduce and remove" 40% tariffs on U.S. car imports, President Trump tweeted last night after returning from the G-20. Risk appetite returned to ... Bloomberg L.P.  

European Shares Soar on Trade-War Truce Hopes; Oil Stocks Jump   Dec 03, 2018
(Bloomberg) -- European shares followed Asia stocks and jumped at the open after a truce in the U.S.-China trade war. Oil shares soared. The Stoxx 600 Europe Index rose 1.9 percent. Exporters ... Yahoo Finance  

Global Markets: Asian shares, oil soar on Sino-U.S. trade truce   Dec 03, 2018
SYDNEY/TOKYO (Reuters) - Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets and battered oil prices. Trade-exposed currencies led ... Yahoo Singapore Finance  

Qatar to withdraw from OPEC and focus on gas exports   Dec 03, 2018
DOHA (Reuters) - Qatar said on Monday it was quitting OPEC from January 2019 but would attend the oil exporter group’s meeting this week, saying the decision meant Doha could focus on cementing its position as the world’s top liquefied natural gas (LNG ... Reuters  

Qatar to Leave OPEC as Politics Finally Rupture Oil Cartel   Dec 03, 2018
(Bloomberg) -- Qatar said it will leave OPEC next month, a rare example of the toxic politics of the Middle East rupturing a group that had held together for decades through war and sanctions. Yahoo Finance  

Oil Jumps Most Since June   Dec 03, 2018
Dec.03 -- Oil has jumped the most since June after the Saudis and Russia extended their deal to manage the market. Canada's biggest crude producing province also announced that it's going to ... Yahoo Finance  

Shell to link pay with carbon footprint efforts   Dec 03, 2018
Royal Dutch Shell PLC RDSB plans to set short-term goals to help the company reduce the net carbon footprint of its energy products with performance targets linked to executive pay. The oil-and-gas company said it will set a target each year for the ... MarketWatch  

Oil Jumps Most Since June as Canada Cuts After Saudi-Russia Pact   Dec 03, 2018
The province is following the advice of companies like Cenovus Energy Inc. and Canadian Natural Resources Ltd., which have been hammered by record low prices for heavy Canadian crude that at one point were $50 a barrel less than U.S. grades. Meanwhile ... Bloomberg L.P.  

Oil Executives Have Very Different Views on This Hot Topic   Dec 03, 2018
Image source: Getty Images. ConocoPhillips (NYSE: COP) also addressed the topic of M&A on its third-quarter call. CEO Ryan Lance noted that the company puts M&A into three buckets: leasing ... Yahoo Finance  

Qatar to withdraw from OPEC as of Jan 2019: minister   Dec 03, 2018
The decision came after Qatar, one of OPEC's smallest producers but the world's largest liquefied natural gas exporter, reviewed ways to enhance its role internationally and plan long-term strategy, including focusing on its gas industry, he said. Finance Yahoo  

Oil Remains India's Bugbear as Rupee, Bonds Buck Trade Cheer   Dec 03, 2018
(Bloomberg) -- While most of Asia cheered the truce between the U.S. and China, India’s rupee, bonds and stocks retreated amid the biggest surge in oil in two years, highlighting the nation’s vulnerability to spikes in energy costs. The rupee was the ... Finance Yahoo  

Oil Prices Surge as Producers Agree to Manage Market   Dec 03, 2018
Investing.com – Oil prices surged Monday morning in Asia after Russia and Saudi Arabia agreed to extend a deal to manage the market into next year. Russian President Vladimir Putin and Saudi ... Yahoo Finance  

Why a Provincial Crisis in Western Canada Is Boosting Global Oil   Dec 03, 2018
Global oil giants like the U.S., Russia and Saudi Arabia that command the attention of traders had some unexpected company on Sunday: a province of less than 5 million people in Western Canada. Alberta added to a crude price rally Monday when Premier ... Bloomberg L.P.  

Total, ADNOC, And Unconventional Gas Play   Dec 03, 2018
On November 12, 2018, French oil supermajor Total (TOT) announced an agreement with the Abu Dhabi National Oil Company to acquire ... and so do BP and Royal Dutch Shell (RDS.A, RDS.B). Seeking Alpha  

'Devil will be in the details': Oil production cuts met with mixed reviews from industry players   Dec 03, 2018
Alberta will be ringing in the new year by slashing crude oil and bitumen production in the province. The cuts, announced Sunday by Premier Rachel Notley in Edmonton, have received vocal support from all of Alberta's political parties, but garnered a ... CBC.ca  

U.S. Declares Emergency After Quake Leaves Alaska in Darkness   Dec 03, 2018
ConocoPhillips said it "doesn’t believe" the earthquake had impacted its assets in the area. In October, ConocoPhillips received approval to develop its Greater Mooses Tooth 2 project just a week after announcing the first production from the Greater ... Yahoo Finance UK and Ireland  

Alberta government imposes oil production cuts for province   Dec 03, 2018
TORONTO (AP) — Alberta’s premier announced Sunday night that she is imposing an industrywide 8.7 percent cut in oil production for the Canadian province to deal with a storage glut that has hurt prices for Alberta oil. Premier Rachel Notley said output ... Associated Press  

Oil Jumps After Saudi Arabia and Russia Agree to Extend Pact   Dec 03, 2018
(Bloomberg) -- Oil jumped in New York and London after Russia and Saudi Arabia agreed to extend into 2019 their deal to manage the oil market, known as OPEC+, although Moscow and Riyadh have yet ... Yahoo Finance  

Alberta to force oil output cuts to deal with price woes   Dec 03, 2018
Several heavy crude producers, including Canadian Natural Resources Ltd and Cenovus Energy Inc , have voluntarily curtailed production in recent weeks. Mandated cuts are controversial as producers ... Yahoo Finance  

Column: How cynical should you be about the Trump-Xi deal? Watch commodities   Dec 03, 2018
coal and liquefied natural gas (LNG). There is something of an irony in this. One of Trump’s stated aims was reducing the U.S. trade deficit with China, but the dispute has widened it ... Reuters  

WPX Energy Will Double Its Cash Flow Over The Next 2 Years   Dec 03, 2018
This is most likely due to the low breakevens that the company is receiving, which, if it is anything like EOG Resources (EOG), could be as low as $30 per barrel. (Source: WPX Energy) Hedges are ... Seeking Alpha  

Alberta to cut oil production by 8.7 per cent to deal with low prices   Dec 03, 2018
Alberta’s premier announced on Sunday that the province will temporarily cut its oil production in an attempt to reverse a historic price gap that has seen Alberta crude sell for significantly less than the world price. Premier Rachel Notley said the ... CTV News  

Alberta to reduce oil production in 2019 to increase prices   Dec 03, 2018
Premier Rachel Notley announced Sunday that a short term reduction in oil production will come into effect early next year as the province wrangles with the oil price differential. The reduction ... CTV Edmonton News  

Alberta to cut oil production by 325,000 barrels a day in January: Notley   Dec 03, 2018
Alberta Premier Rachel Notley says the province will reduce oil production by 8.7 per cent, starting in January. This is a breaking news update. See earlier story below. Alberta’s premier will announce Sunday evening whether the province will temporarily ... CTV News  

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