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Asian refiners' profits slump as mild weather exacerbates oil products glut   Dec 06, 2018
SINGAPORE (Reuters) - Oil refiners' profits in Asia have slumped to the lowest in more than four years after refineries ramped up output in the fourth quarter and churned out excess fuel in anticipation of stronger demand during winter. Oil inventories are ... Yahoo Singapore Finance  

OPEC oil cuts at risk as Russia yet to commit   Dec 06, 2018
VIENNA (Reuters) - OPEC and its allies are working towards cutting oil output by up to 1.5 million barrels per day but could fail to reach a deal if no compromise is found with non-OPEC Russia ... Yahoo Finance  

Charles B. Stanley to Retire from QEP Resources; Timothy J. Cutt Named President and CEO   Dec 06, 2018
About QEP Resources QEP Resources, Inc. (QEP) is an independent crude oil and natural gas exploration and production company with operations in two regions of the United States: the Southern ... Yahoo Finance  

Malaysia's Sapura Energy narrows losses   Dec 06, 2018
Shares in the company were last up nearly 6 percent, lifted by an earlier announcement that it had been awarded a 3 billion ringgit contract from India's Oil and Natural Gas Corporation. Its shares had dropped 20 percent in August when it announced plans ... Yahoo Singapore Finance  

Oil tumbles 5 percent after OPEC hints at smaller output cut   Dec 06, 2018
LONDON (Reuters) - Oil lost nearly 5 percent on Thursday, after OPEC signalled it may agree to a smaller output cut than expected and as concern over the economic impact of trade tensions hit ... Yahoo Finance  

OPEC meets as Trump calls for oil taps to be kept on   Dec 06, 2018
Vienna (AFP) - OPEC members and other oil-producing countries gather in Vienna on Thursday to discuss cutting output to prop up prices, as US President Donald Trump urged them to keep the faucets ... Yahoo Finance  

Crude Oil Price Forecast – crude oil markets rally on 10 Wednesday   Dec 06, 2018
The WTI Crude Oil market rallied a bit during the trading session on Wednesday, digging into the shooting star that formed on Tuesday. The $55 level above is massive resistance, so if we did ... Yahoo Finance  

Patterson-UTI Reports Drilling Activity for November 2018   Dec 06, 2018
About Patterson-UTI Patterson-UTI is a provider of oilfield services and products to oil and natural gas exploration and production companies in North America, including market leading positions ... Yahoo Finance  

Intercontinental Exchange Announces Record Trading in TTF Natural Gas and JKM LNG (Platts) Futures Contracts   Dec 06, 2018
Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced record trading in the TTF Natural Gas and ... Yahoo Finance  

Retailers Embrace Payment Apps to Sidestep $90 Billion in Swipe Fees   Dec 06, 2018
The company says its users have saved more than $100 million ... a startup that helps retailers access the network for their loyalty programs and counts Shell Oil Co. and Phillips 66 as two of its customers. BIM’s offering can help retailers lower ... Bloomberg L.P.  

South Korea gets its first cargo of Russia's Yamal condensate   Dec 06, 2018
Yamal condensate is a type of light oil produced along with liquefied natural gas (LNG) and Asian customers are looking to increase purchases for the petrochemical industry. Traders expect demand ... Reuters  

Oil Drops on Lingering Doubts on OPEC+ Cuts Under Trump Pressure   Dec 06, 2018
(Bloomberg) -- Oil extended losses below $53 a barrel as uncertainty lingers over the scale of OPEC’s output cuts only hours before its official meeting, while U.S. President Donald Trump urges ... Yahoo Finance  

Oil output cuts top agenda at OPEC summit   Dec 06, 2018
OPEC nations gather in Vienna on Thursday, with Saudi Arabia pushing for a deal to cut oil output to help support prices. Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more ... Reuters  

India to import Iranian oil using rupee payment mechanism: source   Dec 06, 2018
NEW DELHI (Reuters) - India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on Thursday, adding that 50 percent of ... Yahoo Finance  

Algonquin Power buys Enbridge Gas New Brunswick for $331M   Dec 06, 2018
Canada's largest natural-gas pipeline company is dumping its once-troubled New Brunswick retail gas system less than two decades after it entered the provincial market. Calgary-based Enbridge is selling its subsidiary, Enbridge Gas New Brunswick ... CBC.ca  

Noble Energy: Key Takeaways From The Third Quarter 2018   Dec 06, 2018
Noble Energy's total revenues increased by 32.6% year over year to $1,273 million in the third quarter and up 3.5% sequentially. Proposition 112, which required greater oil and gas setbacks for ... Seeking Alpha  

Amid oil price crisis, major energy producer says Canada's largest pipeline system is 'dysfunctional'   Dec 06, 2018
Canadian Natural Resources is doubling down on its concerns about wasted space on Canada's biggest oil pipeline, blaming a "dysfunctional" process as one reason for slashing its spending plans next year. It follows complaints the company's executive vice ... CBC.ca  

BRIEF-Sapura Energy Says Unit Jointly In Consortium With Afcons Infrastructure Gets Contract From Oil And Natural Gas Corporation   Dec 06, 2018
Dec 6 (Reuters) - Sapura Energy Bhd: * SAPURA ENERGY - UNIT JOINTLY IN CONSORTIUM WITH AFCONS INFRASTRUCTURE GETS CONTRACT FROM OIL AND NATURAL GAS CORPORATION LTD * CONTRACT VALUED AT ABOUT 3 BILLION RGT * SAPURA ENERGY - CONTRACT FOR OFFSHORE PROCESS ... Yahoo Singapore Finance  

As OPEC Meets, New Energy ETFs Spy Opportunity in Oil's Decline   Dec 06, 2018
Cushing Asset Management has a lot riding on the meeting of OPEC in Vienna Thursday -- specifically, the success of its first exchange-traded funds. On the heels of the worst month for crude since 2008, the Dallas-based investment firm, which manages about ... Bloomberg L.P.  

Oil's sharp price drop fuels questions for stock market   Dec 06, 2018
NEW YORK (Reuters) - U.S. stock investors are wary that a 30 percent slump in oil prices will pressure corporate profits while also presenting a sign of weakness in global growth at a time they are already weighing when the long economic expansion will end. Reuters  

Plummeting Prices Help Clear Some Of Asia’s Floating LNG Cargoes   Dec 06, 2018
Plunging spot liquefied natural gas (LNG) prices in Asia and a flipping of the market curve have helped to clear some of the LNG cargoes off Asia’s coasts that have been sitting there since ... OilPrice  

PMO says it will include discussion on oil industry at first ministers meeting   Dec 06, 2018
The Prime Minister’s Office says it has added a discussion on the oil and gas industry at Friday’s first ministers meeting, after criticism from Alberta Premier Rachel Notley and Saskatchewan Premier Scott Moe. The PMO “will include a discussion on ... CTV News  

Mexico's new president throws down gauntlet to oil majors   Dec 06, 2018
Lopez Obrador says investment in state-owned oil company Pemex has declined as a result of the reform ... While the complicated deepwater projects snapped up by the likes of Royal Dutch Shell, Exxon Mobil Corp Chevron Corp and Total SA are still in the ... Reuters  

Will Cenovus Energy Inc. (TSX:CVE) Ever Go Full Throttle?   Dec 06, 2018
Energy stocks such as Cenovus Energy (TSX:CVX)(NYSE:CVE) are suddenly faced with the grim prospects of losing steam. About two months ago, many oil producers were euphoric over the oil prices hitting US$100 per barrel. The mood then was upbeat, as ... Finance Yahoo  

UPDATE 1-Union rallies outside LyondellBasell refinery over labor talks   Dec 06, 2018
Talks on a national oil-workers agreement are due to begin next month with Shell Oil Co ... an agreement that is fair and equitable for the company and our represented employees,” said company ... Reuters  

Could Iraq Be The Next OPEC Member To Exit?   Dec 06, 2018
Iraq's oil minister, Jabar Ali al-Luaibi, at the same time OPEC was considering cuts actually urged oil and natural gas producers operating in the country to continue increasing output for the ... OilPrice  

OPEC, Russia, move closer to oil output cut   Dec 05, 2018
OPEC and Russia moved closer on Wednesday to agreeing to cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. OPEC and Russia moved closer on Wednesday to agreeing to cuts in oil production ... Reuters  

Energy minister expects 'smooth' natural gas utility transition   Dec 05, 2018
The province's energy minister says the government will do its best to help lower natural gas prices following the sale of Enbridge Gas New Brunswick. Mike Holland, the new minister of energy and resource development, said the government can play a ... CBC.ca  

Mexico's new president throws down gauntlet to oil majors   Dec 05, 2018
MEXICO CITY (Reuters) - Mexico’s new president, Andres Manuel Lopez Obrador, said on Wednesday he would not cancel contracts issued to foreign and national oil companies by his predecessor but ... Reuters  

Iran says looking for exemption from any oil output cuts   Dec 05, 2018
VIENNA (Reuters) - Iran is looking to be exempted from any OPEC oil output cuts because of U.S. sanctions, Iranian Oil Minister Bijan Zanganeh told reporters ahead of Thursday’s OPEC meeting. “We should be excluded from any decision about the level of ... Reuters  

Crude Oil Price Update – Needs to Hold $51.98 to Sustain Upside Momentum   Dec 05, 2018
U.S. West Texas Intermediate crude oil futures are trading lower Wednesday with prices being pressured by another U.S. inventory increase and a steep drop in U.S. equity markets. The weekly ... Yahoo Finance  

Earthquakes in Heart of Texas Oil Country Spur Water Crackdown   Dec 05, 2018
The county is home to wells drilled by marquee explorers such as EOG Resources Inc., Concho Resources Inc. and Occidental Petroleum Corp. Representatives of EOG, Concho and Occidental didn’t immediately respond to messages seeking comment. The Texas Oil ... Bloomberg L.P.  

Oil-Sands Crisis Hits Home as Canadian Natural Cuts Spending   Dec 05, 2018
Canadian Natural Resources Ltd., citing a lack of shipping options, said on Wednesday that it’s targeting a base capital plan of C$3.7 billion for next year, about C$1 billion less than its normalized plan. Of next year’s spending, only 16 percent is ... Bloomberg L.P.  

British Columbia details plan to shift homes, cars to clean energy   Dec 05, 2018
The province would still support its nascent liquefied natural gas industry, with the 68-page CleanBC plan calling for LNG firms to use the “greenest technology available.” Some 75 percent of ... Reuters  

World Bank Warns Of Extreme Volatility In Oil Markets   Dec 05, 2018
After several months of oil price rises and then a sharp reversal over the last few weeks, world oil markets are in for more heightened volatility next year because of scarce spare production ... OilPrice  

Forecasting NatGas Prices With Fundamental Supply-Demand And Atmospheric Temperature Data   Dec 05, 2018
Later, with growing usage of NG and falling production of oil it has become a commodity produced for its own merits and priced accordingly.However, since shell ... with any company whose stock ... Seeking Alpha  

No mention of 'oil' and 'gas' in leaked agenda for first ministers meeting   Dec 05, 2018
The words “oil” and “gas” don’t appear once on the agenda for the first ministers meeting this Friday, according to a leaked copy of the document given to CTV News by one of the provinces. The document provides a detailed breakdown of what each ... CTV News  

U.S. Oil Majors To Break “The Contract Of The Century”   Dec 05, 2018
Since the oil industry started to recover from the 2014 price crash, U.S. supermajors ExxonMobil and Chevron have been re-aligning their global operations with their longer-term priorities ... OilPrice  

Exclusive: Houston energy engineering co. in talks to lease Energy Center Five   Dec 05, 2018
Houston-based ConocoPhillips initially preleased both Energy Center Three and Energy Center Four and is currently in the process of relocating its corporate headquarters from 600 North Dairy Ashford to Energy Center Four at 925 N. Eldridge Parkway. The Business Journals  

Gas forecast introduced by FortisBC with shortage looming   Dec 05, 2018
Ruptured gas pipeline near Prince George repaired, but remains at reduced capacity "If we can control the amount of natural gas used — from houses and apartments to industry and municipal buildings —we will have enough natural gas for all customers ... CBC.ca  

Mexico's Lopez Obrador throws down gauntlet to oil majors   Dec 05, 2018
Lopez Obrador says investment in state-owned oil company Pemex has declined as a ... projects snapped up by the likes of Royal Dutch Shell, Exxon Mobil Chevron and Total are still in the ... Reuters  

World's biggest oil traders paid bribes in Brazil scandal: prosecutors   Dec 05, 2018
RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV.UL], Trafigura [TRAFGF.UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian ... Reuters  

Libya Closes All Oil Ports, Expects To Shut-In 150,000 Bpd   Dec 05, 2018
Libya has closed all its oil loading terminals due to bad weather, and soon-to-be-full storage tanks will lead to a shut-in of 150,000 bpd, or half of the oil production at the large Sharara oil ... OilPrice  

Morton Ranch keeps Classic basketball championship in Katy   Dec 05, 2018
The Morton Ranch Mavericks celebrate their first place finish in the Gold Bracket of the ConocoPhillips Katy ISD Classic on Saturday, Dec. 1, at the Leonard Merrell Center in Katy. The Morton Ranch Mavericks celebrate their first place finish in the Gold ... Houston Chronicle  

OPEC Oil Output Rises As Saudis Pump At Record While Iran Slumps   Dec 05, 2018
OPEC’s crude oil production increased by 40,000 bpd from October to 33.08 million bpd in November, as Saudi Arabia pumped at record highs, more than offsetting—together with the UAE—the drop ... OilPrice  

Oilsands firm Canadian Natural cuts $1 billion from budget due to low oil price   Dec 05, 2018
CALGARY — Canadian Natural Resources Ltd. is cutting its 2019 capital budget by about $1 billion due to poor western Canadian oil prices but it says it will ramp up spending if prices rebound. The Calgary-based oilsands producer announced Wednesday a ... Finance Yahoo  

OPEC Urges Nigeria, Libya To Join Oil Production Cuts; Iran Balks   Dec 05, 2018
OPEC is trying to persuade Libya and Nigeria to join cuts if the cartel agrees to reduce production, delegates told S&P Global Platts, while the OPEC and non-OPEC leaders of the deal, Saudi Arabia ... OilPrice  

Oil edges higher before OPEC meeting   Dec 05, 2018
NEW YORK (Reuters) - Oil prices inched higher on Wednesday ahead of a meeting of the world’s biggest exporters who will discuss cutting output to help shore up prices and curb excess supply. Brent crude LCOc1 futures rose 14 cents to $62.22 a barrel, by ... Reuters  

Streets and legislative buildings re-open after downtown Fredericton gas leak   Dec 05, 2018
FREDERICTON -- A natural gas leak forced the evacuation of government offices and some downtown Fredericton businesses for about three hours Wednesday. Construction crews working on the Centennial ... Atlantic CTV News  

An OPEC return to 2016 oil quotas could mean a cut of 1.2 million bpd   Dec 05, 2018
LONDON (Reuters) - If OPEC and its allies led by Russia agree to reduce oil output next year by reverting to 2016 production quotas, it would imply an OPEC-only supply curb of at least 1.2 million barrels per day (bpd), according to Reuters calculations. Reuters  

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