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Oil Soars After OPEC And Partners Reach Deal   Dec 07, 2018
Oil prices shot up on Friday after the stubborn holdout Iran agreed to have OPEC reduce oil production by a total of 800,000 bpd, while non-OPEC nations, led by Russia, are reportedly adding ... OilPrice  

OPEC agrees to cut in oil production   Dec 07, 2018
Iraq's representative in OPEC says the oil cartel has agreed to a proposal that will see global oil production reduced by 1.2 million barrels a day. According to Thamir Ghadhban, the proposed cut would be made up of 800,000 barrels per day from OPEC ... CTV News  

Recent XEC News   Dec 07, 2018
DENVER, Dec. 6, 2018 /PRNewswire/ -- Cimarex Energy Co. (NYSE: XEC) announced today that its Board of Directors has declared a quarterly cash dividend on its common stock of $0.18 per share. The dividend is payable on March 1, 2019, to stockholders ... Bloomberg L.P.  

Russia May Agree To 200,000 Bpd Cut In OPEC+ Oil Deal   Dec 07, 2018
Russia may be ready to cut its oil production by 200,000 bpd as part of a deal with OPEC to reduce oil supply—a higher commitment than 150,000 bpd previously aired, a source at Russia’s energy ... OilPrice  

The Latest: OPEC agrees to cut in oil production   Dec 07, 2018
VIENNA — The Latest on the OPEC oil meeting (all times local): 4 p.m. Iraq's representative in OPEC says the oil cartel has agreed to a proposal that will see global oil production reduced by 1.2 million barrels a day. According to Thamir Ghadhban, the ... Finance Yahoo  

Natural Gas Price Fundamental Daily Forecast – Pressured by Warm Weather Forecasts   Dec 07, 2018
Natural gas futures are trading lower on Friday as traders price in a forecast calling for warmer temperatures beginning next week. Although the wide storage deficit is still intact, the news of ... Yahoo Finance  

UPDATE 1-Kazakh central bank cuts oil output forecast for 2018-19   Dec 07, 2018
ALMATY, Dec 7 (Reuters) - Kazakhstan’s central bank has trimmed its forecast for the country’s oil output in 2019 and said it expects Brent crude oil to average $60 a barrel next year. Reuters  

Oil Minister Dharmendra Pradhan hopes OPEC will remember consumers when cutting output   Dec 07, 2018
NEW DELHI (Reuters) - Oil Minister Dharmendra Pradhan said on Friday he was hopeful that Organization of the Petroleum Exporting Countries (OPEC) would keep in mind consumers’ interests before ... Reuters  

GLOBAL MARKETS-Asia shares struggle to rally, oil skids further   Dec 07, 2018
SYDNEY, Dec 7 (Reuters) - Asian shares fought to sustain the slimmest of recoveries on Friday amid speculation the Federal Reserve might be “one-and-done” with U.S. rate hikes, while oil fell anew as producers bickered over the details of an output cut. Reuters  

Indonesia's Pertamina reaches financial close on $1.8 bln gas power station project   Dec 07, 2018
to feed natural gas into the 1,760 megawatt Jawa-1 combined cycle power station on the island of Java, will commence in the third week of December, Pertamina said in an emailed statement. (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by ... Reuters  

Japanese stocks end 3-day losing run; trade woes cap gains   Dec 07, 2018
Textile company Kurabo Industries Ltd jumped 6.6 percent ... as crude oil prices slumped on OPEC’s decision to delay a final decision on output cuts. Oil refiners Idemitsu Kosan and Showa Shell Sekiyu KK ended down 4.5 percent and 3.8 percent, respectively. Reuters  

How money stokes divide of historic black community in Virginia pipeline battle   Dec 07, 2018
Neighbors and families are pitted against one another over a natural gas pipeline project in Union Hill. In the end, who stands to lose? 'Dominion thought they can just come in and we'd all roll over,' said Ruby Laury, a cattle farmer with her husband in ... NBC News  

Equinor gets OK to extend Troll gasfield lifetime beyond 2050   Dec 07, 2018
The field accounts for about 40 percent of the natural gas reserves on the Norwegian continental shelf (NCS) and meets about 7-8 percent of Europe’s consumption. Norway is Europe’s second largest gas supplier after Russia. The approved 7.8 billion ... Reuters  

OPEC ministers, Russia, meeting for oil production cut talks   Dec 07, 2018
VIENNA -- OPEC countries are mulling a possible cut to oil production in an attempt to stabilize prices as they meet for a second straight day. Heavyweight Saudi Arabia has been pushing a cut of about 1 million barrels a day, but the oil cartel was not ... CTV News  

China's Iran oil imports to rebound in December as buyers use U.S. waivers   Dec 07, 2018
BEIJING/SINGAPORE (Reuters) - China's Iranian oil imports are set to rebound in December after two state-owned refiners in the world's largest oil importer began using the nation's waiver from U.S. sanctions on Iran, according to industry sources and data ... Finance Yahoo  

Oil Extends Losses as OPEC Talks End Without Deal to Curb Output   Dec 07, 2018
(Bloomberg) -- Oil extended losses near $51 a barrel after OPEC ended talks without a deal on production curbs as its ally Russia refused to commit to the big output cut that Saudi Arabia demanded. New York futures slipped as much as 1.3 percent, falling ... Finance Yahoo  

Oil slides as OPEC ties supply cut to Russia; Moscow said to only back limited move   Dec 07, 2018
SINGAPORE (Reuters) - Oil prices fell on Friday, pulled down by OPEC’s move to delay a final decision on output cuts as its awaits support from heavyweight supplier Russia, which is reported to ... Reuters  

Natural Gas Skyrockets As China Pledges Huge Supply Boost   Dec 07, 2018
With an eye on last winter’s natural gas supply debacle, Chinese state-owned energy giant CNOOC has pledged a 20 percent rise in gas supply, the company said on Tuesday. The company, one of ... OilPrice  

Encana Could Boost Duvernay Output, But Is Choosing Not To   Dec 07, 2018
Overview of Encana's Duvernay asset and its joint venture with PetroChina. JV was formed in 2012. Coverage of key midstream infrastructure. Why Encana's management is sidestepping the truth when ... Seeking Alpha  

EXPLAINER-Asia oil and LNG markets are both swamped, so why are prices poles apart?   Dec 07, 2018
SINGAPORE, Dec 7 (Reuters) - Asian markets for liquefied natural gas (LNG) and oil are closely related, and both now awash in oversupply. But while data shows forward oil prices rising, LNG prices for future delivery are veering in the opposite direction. Reuters  

Chevron Shrugs Oil Rout in Surprise Budget Hike as Shale Beckons   Dec 07, 2018
(Bloomberg) -- Chevron Corp. raised its spending budget for the first time since 2014 even as crude prices plummet, doubling down on U.S. shale. The world’s third-largest oil producer by market value will increase investments by 9.3 percent to $20 ... Finance Yahoo  

Russian-Saudi Oil Cooperation Won’t Last   Dec 07, 2018
(Bloomberg Opinion) -- There’s a nasty undercurrent to the surprisingly strong Saudi-Russian oil alliance behind the upcoming oil production cuts (or, rather, the latest coordinated verbal intervention to drive up the price of oil). Saudi Crown Prince ... Finance Yahoo  

Canada Pipeline System “Dysfunctional”: Industry Executive   Dec 07, 2018
It is also features a “dysfunctional pipeline nomination process,” according to Canadian Natural Resources, one of the top players in the field. In a press release presenting the company’s ... Crude Oil Prices  

Iran Hopes Iranian-EU Oil Trade Mechanism To Start Working By Year-End   Dec 07, 2018
Iran hopes that the special purpose vehicle that would allow the European Union (EU) to continue buying Iranian oil amid the U.S. sanctions will become operational by the end of this year, Ali ... OilPrice  

Rex Tillerson   Dec 07, 2018
Chairman and CEO of ExxonMobil Corporation, USA, Rex W. Tillerson gestures while speaking during a session 'Energy 2007' at the World Economic Forum in Davos, Switzerland, Thursday Jan. 25, 2007. The tumult in the Middle East and the ongoing crisis between ... Houston Chronicle  

Prime Minister Trudeau talks Albertan oil and divisive politics   Dec 07, 2018
In an exclusive interview with The National, Prime Minister Justin Trudeau says he is willing to consider helping Alberta Premier Rachel Notley fund the purchase of rail cars to increase the volume of oil her province can ship to international markets.  

In major shift, U.S. now exports more oil than it ships in   Dec 07, 2018
(Reuters) - The United States last week exported more crude oil and fuel than it imported for the first time on record, according to data released on Thursday, the same day OPEC ended a meeting without a decision to curb global output to balance out the ... Finance Yahoo  

Oil drops as OPEC makes supply cut dependent on Russian support   Dec 07, 2018
SINGAPORE (Reuters) - Oil prices fell on Friday, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. International Brent crude oil futures fell below $60 per barrel early in the ... Finance Yahoo  

Looking Ahead Natural Gas Will Become The Place to be (Radio)   Dec 07, 2018
David Lennox, Resource Analyst, Fat Prophets, joined Ramy Inocencio and Doug Krizner on Daybreak Asia. He reacts to news from the OPEC meeting, including the lack of a deal on production cuts. He also discusses the importance of shale producers, where he ... Bloomberg L.P.  

Despite Its Low Price, Abraxas May Not Be A Bargain For Everyone   Dec 07, 2018
In the Delaware sub-basin, public company competitors include those such as Anadarko Petroleum (APC), Carrizo Oil & Gas (CRZO), Matador Resources (MTDR), PDC Energy (PDCE), and WPX Energy (WPX). Seeking Alpha  

LyondellBasell, union begin contract talks at Houston oil refinery   Dec 07, 2018
... contract to be negotiated in January between USW International representatives and Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc, which is the lead company for refinery and chemical plant owners. The national agreement sets the pattern for pay ... Reuters  

Cutting output by even 1 barrel is 'a red line' for Iran, oil minister says   Dec 07, 2018
Iran is refusing to cut its oil production at the latest OPEC meeting, saying it is a "red line" for the Islamic Republic. "It's a red line for Iran to reduce its production, to contribute to a new cut in production. Iran hasn't produced any more oil in ... Finance Yahoo  

Oil firms on drop in U.S. crude stocks, market awaits OPEC/Russia supply decision   Dec 07, 2018
SINGAPORE (Reuters) - U.S. oil prices stabilized on Friday, buoyed by a fall in U.S. crude oil inventories, but sentiment remained weak as producer group OPEC postponed a final decision on output ... Reuters  

Natural Gas Price Prediction – Inventories Grow in Line with Expectations   Dec 07, 2018
Natural gas prices whipsawed and moved down by slightly more than 2% on Thursday following the Department of Energy’s inventory report. Jobs data was slightly weaker than expected which could ... Yahoo Finance  

Oil Price Slide Puts The Brakes On U.S. Shale Growth   Dec 07, 2018
While U.S. President Donald Trump continues to call on OPEC to keep oil prices low, because “The World does not want to see, or need, higher oil prices!”, one corner of the world may need WTI ... OilPrice  

U.S. Coast Guard chief optimistic about icebreaker ship funding   Dec 06, 2018
Icebreakers support scientific missions and operate in the Arctic and Antarctic, which hold vast natural gas, oil, mineral, fish, and fresh water resources, Schultz said. While Washington participates in several forums on Arctic security and cooperation ... Reuters  

GLOBAL MARKETS-Stocks fall on China exec arrest; oil slips on OPEC output delay   Dec 06, 2018
NEW YORK, Dec 6 (Reuters) - Stock markets around world slid on Thursday as the arrest of a top Chinese technology executive cast further shadows on U.S.-China trade relations, while oil prices ... Reuters  

WRAPUP 1-Trump targets pair of Obama-era green rules to boost oil, coal   Dec 06, 2018
WASHINGTON, Dec 6 (Reuters) - The Trump administration took aim at two Obama-era environmental policies on Thursday to boost the oil and coal industries, proposing to open up a bird’s wildlife ... Reuters  

 Two proposals will ease constraints put in place by the previous administration's environmental agenda.

YPF Sociedad Ties Up with Petronas to Invest in Vaca Muerta   Dec 06, 2018
The deal represents the third unconventional project that YPF Sociedad will be undertaking after the Loma Campana development, partnering with Chevron Corporation CVX, and the El Orejano project ... Yahoo Finance  

Oil ‘crisis’ discussion added to first ministers meeting   Dec 06, 2018
Oil has been added to the first ministers agenda in Montreal, but Alberta Premier Rachel Notley said she wants more time allocated to discuss what she has called a crisis. On Wednesday, the Prime ... CTV Edmonton News  

Canadian Natural Resources goes ex-dividend tomorrow   Dec 06, 2018
Canadian Natural Resources (NYSE:CNQ) had declared $0.252/share quarterly dividend, -1.9% decrease from prior dividend of $0.257. Payable Jan. 1; for shareholders of record Dec. 10; ex-div Dec. 7. Seeking Alpha  

U.S. Becomes Net Oil Exporter For First Time In 75 Years   Dec 06, 2018
The United States became a net oil exporter last week for the first time in 75 years, and even if it is likely to be for just one week, the achievement highlights the increasing global influence ... Yahoo Finance  

ExxonMobil Introduces Mobil 1™ Truck & SUV Synthetic Motor Oil   Dec 06, 2018
Unique formula developed specifically for gasoline-fueled, light-duty trucks and SUVs* Provides extra protection for hardworking engines and outstanding performance under tough operating conditions Formulated with high-performance base oils and additives ... The Business Journals  

Edmonton OK for now despite oil cutbacks, city's chief economist says   Dec 06, 2018
Edmonton's chief economist predicts the city's economy will hold its own, at least for the time being, despite mandated provincial cuts to oil production announced last week by Premier Rachel Notley. "The impact won't be immediate," John Rose told ...  

Maduro: Russia, Venezuela Sign $5B Deals To Boost Venezuelan Oil Production   Dec 06, 2018
Back from a visit to Moscow, Venezuelan President Nicolas Maduro tweeted a video on Thursday, in which he said that Venezuela and Russia have signed US$5-billion investment deals to increase oil ... OilPrice  

 Venezuela is seeking Russian investment in its O&G industry midst declining production following years of mismanagement.

Meet the New Permian, It's Double the Size of the Old One   Dec 06, 2018
The study only looked at the two rock formations, which are both well known to operators including Exxon Mobil Corp., Royal Dutch Shell Plc, EOG Resources Inc. and Occidental Petroleum Corp. Industry experts say there are as many as a dozen so-called ... Bloomberg L.P.  

Alberta Production Cuts Send Canadian Crude Soaring   Dec 06, 2018
Yet not everyone in the local oil industry is thrilled with the production cut. Suncor was against it when the idea was first floated, proposed by the chief executive of peer Cenovus. The cut ... Yahoo Finance  

Oil dives nearly 3 percent after OPEC delays output decision   Dec 06, 2018
NEW YORK (Reuters) - Oil fell nearly 3 percent in choppy trading on Thursday after OPEC and its allies ended a meeting without announcing a decision to cut crude output, and prepared to debate the ... Yahoo Finance  

 OPEC is still trying to finalize the details of the production cuts through negotiations with Russia.

Oil tumbles as markets eye OPEC meeting; Dollar waits for NFP   Dec 06, 2018
The past few weeks have certainly not been kind to Oil markets amid oversupply concerns and fears over slowing global growth negatively impacting demand. Rising production from US Shale, the US ... Yahoo Finance  

OPEC to Cut Production After Oil Price Crash   Dec 06, 2018
OPEC’s meeting in Vienna today will be scrutinised more closely than usual amid a backdrop of plunging oil prices and political changes within the oil producing countries. After a period of firming crude oil, prices have plunged from $86 a barrel of WTI ... Finance Yahoo  

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