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UAE Looks To Launch New Regional Oil Benchmark   Jul 16, 2019
The Abu Dhabi National Oil Company (ADNOC), which pumps most of the crude oil of OPEC’s third-largest producer, the UAE, plans to launch its own oil benchmark for the region, possibly as soon as ... OilPrice  

Anadarko shareholders to vote next month on Occidental deal   Jul 16, 2019
HOUSTON (Reuters) - Anadarko Petroleum Corp shareholders will vote Aug. 8 on the oil and gas producer's planned $38 billion sale to Occidental Petroleum Corp - the biggest oil and gas deal of the ... YAHOO!  

Oil steadies as U.S. supply concerns ease but Iran tensions loom   Jul 16, 2019
LONDON (Reuters) - Oil prices steadied on Tuesday as a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply from shale oil countered tensions in the ... Reuters  

No Fast Exit From Permian Oil for Private Equity, RS Energy Says   Jul 16, 2019
Private equity has been ramping up its investment in Permian Basin oil and natural gas production, but the old strategy of selling out after a few years is no more, according to RS Energy Group. Simply tapping a team of oil executives to find a good spot ... Bloomberg L.P.  

Oil Price Fundamental Daily Forecast – US Production Outweighing OPEC-led Attempts to Trim Supply   Jul 16, 2019
U.S. West Texas Intermediate and international-benchmark Brent crude oil prices are trading lower on Tuesday with traders attempting to claw-back earlier losses. Brent is the weaker of the two ... YAHOO!  

CN, Imperial Oil, and Suncor to rebuild Steen River Rail Bridge   Jul 16, 2019
CALGARY, Alberta, July 16, 2019 (GLOBE NEWSWIRE) -- CN (CNR.TO) (CNI) announced today that it will rebuild the rail bridge over the Steen River in Alberta. Imperial and Suncor are contributing funds to the reconstruction effort. This rail bridge is the ... Yahoo New Zealand  

U.S. company to be sentenced for spilling diesel, oil in B.C. First Nation's fishing territory   Jul 16, 2019
The Nathan E. Stewart spilled 110,000 litres of diesel and heavy oils into the Heiltsuk Nation's fishing territory on B.C.'s Central Coast in October 2016. Kirby Corp. is scheduled to be sentenced under the Fisheries Act for the spill on Tuesday. CBC.ca  

UPDATE 3-Nigeria's state oil firm awards oil-for-fuel swap deals -sources   Jul 16, 2019
LAGOS/LONDON, July 15 (Reuters) - Nigerian state oil firm NNPC issued award letters on Monday for highly sought-after contracts to exchange crude oil for imported fuel for one year, oil industry ... Reuters  

Producers still cautious despite higher Q2 expectations on stronger oil prices   Jul 16, 2019
"Really, it's about a balanced approach, not getting too aggressive on the growth side until you have more market access," said Steve Laut, executive vice-chairman of Canadian Natural Resources Ltd. The second-quarter earnings parade starts July 24 with ... CBC.ca  

Global Calcium Chloride Market Outlook Report, 2019 - Market Projected to Cross $1.63 Billion by 2024 - ResearchAndMarkets.com   Jul 16, 2019
The major players profiled in the global calcium chloride market include Occidental Petroleum Corporation, TETRA Technologies, Inc., Solvay, Tiger Calcium, Ward Chemical Ltd., Nedmag B.V., Zirax ... YAHOO!  

Sufficient oil available to offset India's lost Iranian imports: oil minister   Jul 16, 2019
NIDHI VERMA (Reuters) - There are adequate oil supplies in the market to compensate for lost oil imports from Iran, Indian oil minister Dharmendra Pradhan said in New Delhi on Tuesday. India ... YAHOO!  

Global Corn Oil Market Trends, Share, Size, Growth, Opportunity and Forecast Report 2019 - ResearchAndMarkets.com   Jul 16, 2019
The "Corn Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering. The Global Corn Oil Market ... YAHOO!  

Gulf Of Mexico Oil Production Restarts After Tropical Storm   Jul 16, 2019
After tropical storm Barry passed through the U.S. Gulf of Mexico and made landfall in Louisiana early on Saturday, oil and gas producers began on Monday to slowly restore oil production that had ... OilPrice  

India seeks more than $1 billion investment with new oil block auction: minister   Jul 16, 2019
NEW DELHI (Reuters) - India hopes to attract more than $1 billion of investment in exploration and production blocks awarded to companies on Tuesday under new rules for auctions of oil and gas ... Reuters  

The Latest: Greek Cypriots reject joint gas drilling panel   Jul 16, 2019
20 p.m. Greek Cypriot leaders on ethnically split Cyprus have turned down a renewed proposal by breakaway Turkish Cypriots to form a joint committee on managing natural gas discovered offshore the east Mediterranean island nation. Deputy Minister Vasilis ... Finance Yahoo  

U.S resumes Gulf of Mexico oil output   Jul 16, 2019
Crude prices are steadying as U.S. oil companies begin restoring some of the nearly 74% of production that was shut in the Gulf of Mexico ahead of Hurricane Barry. There were 1.3M barrels per day ... Seeking Alpha  

Shell Sees Importance In Blockchain, Plans To Harness EWF Public Chain   Jul 16, 2019
Back in 2017, Shell created an entire division within the company, tasked with navigating the waters of ... "These use cases are in different stages of maturity." The oil and gas leader also recently shared its plans to invest in the startup LO3 Energy ... Forbes  

Production starts to return in Gulf after Hurricane Barry   Jul 16, 2019
Other large Gulf producers like The Woodlands-based Anadarko Petroleum and Australia's BHP evacuated multiple platforms as well. Shutting-in oil and gas production with underwater safety valves in wells is a standard procedure conducted for safety and ... Houston Chronicle  

Oil Near $60 on Lower U.S. Stockpiles Forecast While Storm Eases   Jul 16, 2019
See also: How Great Shifts in Oil Market Calmed Panic Over 2020 Ship Fuel Royal Dutch Shell Plc and ConocoPhillips are among companies seeking to restore output at offshore platforms in the Gulf of Mexico now that weather conditions have improved after ... Bloomberg L.P.  

IEA: Huge Oil Glut Coming In 2020   Jul 16, 2019
Nick Cunningham is a freelance writer on oil and gas, renewable energy, climate change, energy policy and geopolitics. He is based in Pittsburgh, PA. The oil market saw a rather significant ... OilPrice  

Is Cenovus (TSX:CVE) a Good Buy Ahead of Earnings?   Jul 16, 2019
Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) is expected to release its second-quarter earnings later this month. With the stock already up more than 25% since the beginning of the year, the question investors might be asking is whether more of a rally is still ... Finance Yahoo  

U.S. Probing Fate of U.A.E. Oil Tanker That Entered Iran Waters   Jul 16, 2019
The U.S. is investigating the disappearance of an Emirati oil tanker that entered Iranian waters and stopped transmitting its location, in an incident that could intensify frictions in the Gulf. Washington is aware of the developing situation with the ship ... Bloomberg L.P.  

Urals crude oil loadings from Baltic ports set at 0.8 mln T for Aug. 1-5 -preliminary schedule   Jul 16, 2019
MOSCOW, July 16 (Reuters) - Urals crude oil loadings from the Russian ports of Primorsk and Ust-Luga for Aug. 1-5 are seen at 0.8 million tonnes versus 0.9 million tonnes for July 1-5, the ... Reuters  

Oil gains as Iran tensions outweigh U.S. supply boom   Jul 16, 2019
LONDON (Reuters) - Oil prices rose on Tuesday as tensions in the Middle East outweighed the impact of a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in U.S ... Reuters  

 Oil price didn't fall despite US oil companies restoring 74% of production capacity after hurricane. US - Iran tensions won't let the price go below $59.50.


America’s Hottest Shale Play Is Slowing Down   Jul 16, 2019
Mexico Connection A dispute between Mexico and pipeline companies threatens the much-needed relief valve for natural gas from the Permian, where the fuel is a byproduct of oil output. The country ... YAHOO!  

EPA asked to reconsider use of dangerous chemical   Jul 16, 2019
The Husky Energy oil refinery was rocked last April by a huge blast and fire. The flying shrapnel narrowly missed a tank of hydrogen fluoride, a toxic chemical that can be deadly if inhaled. Husky spokesman Mel Duvall noted in April that the refinery will ... Associated Press  

UPDATE 3-At Oil Search party, PNG prime minister seeks bigger slice of cake   Jul 16, 2019
MELBOURNE/SYDNEY, July 16 (Reuters) - Papua New Guinea’s new prime minister used Oil Search Ltd’s 90th birthday to press the country’s biggest company and its oil major partners to pay more ... Reuters  

Wall Street Breakfast: Big Tech Grilled On Capitol Hill   Jul 16, 2019
Among those returning staff to the more than 280 production platforms that had been evacuated include Anadarko Petroleum (NYSE:APC), BHP (NYSE:BHP), Chevron (NYSE:CVX), Exxon Mobil (NYSE ... Seeking Alpha  

Concern grows over UAE-based oil tanker in Strait of Hormuz   Jul 16, 2019
DUBAI, United Arab Emirates (AP) — Tracking data shows an oil tanker based in the United Arab Emirates traveling through the Strait of Hormuz drifted off into Iranian waters and stopped transmitting its location over two days ago, raising concerns ... Associated Press  

Norway asks Equinor to review safety at Hammerfest LNG plant by end 2019   Jul 16, 2019
OSLO, July 16 (Reuters) - Norway’s oil safety regulator said on Tuesday it had identified safety breaches at Equinor’s Hammerfest liquefied natural gas (LNG) plant, which shut down for repairs ... Reuters  

The Latest: Concern grows over UAE-based oil tanker   Jul 16, 2019
DUBAI, United Arab Emirates (AP) — The Latest on tensions in the Persian Gulf amid a crisis between the United States and Iran (all times local): 1:40 p.m. Tracking data shows an oil tanker based in the United Arab Emirates traveling through the Strait ... Associated Press  

Exclusive: UAE plans oil trade overhaul to boost Middle Eastern clout   Jul 16, 2019
DUBAI/LONDON (Reuters) - The United Arab Emirates’ state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East, plans an overhaul for its trading operations as it seeks to emulate the success of rival oil majors and bolster ... Reuters  

 UAE seeking to launch a regional oil benchmark like Brent and WTI, by overhauling ADNOC trading operations and increasing its regional influence on the market.


Oil Steady on Lower U.S. Stockpile Forecast While Storm Eases   Jul 16, 2019
(Bloomberg) -- Oil traded near $60 a barrel amid forecast U.S. crude inventories fell for a fifth week, while some production in the Gulf of Mexico is returning as a tropical storm eased. Futures were up 0.2% in New York after sliding 1.1% on Monday. Finance Yahoo  

Equinor says production starts at Trestakk field in Norwegian Sea   Jul 16, 2019
The field has estimated recoverable resources of 76 million barrels of oil, the company added. Equinor holds a 59.1% stake in the Trestakk license, while ExxonMobil has 33% and Vaar Energi has 7.9%. Reuters  

Permian oil companies donate $16.5M for new Midland-Odessa charter schools   Jul 16, 2019
The list of participating companies includes Big Oil players Chevron, Exxon Mobil, BP and Royal Dutch Shell, as well as a bevy of Houston producers such as Occidental Petroleum, EOG Resources, ConocoPhillips, Anadarko Petroleum, Apache Corp., and major ... Houston Chronicle  

Oil Prices Steady as Facilities Resume Operations in U.S. Gulf   Jul 16, 2019
Investing.com - Oil prices steadied on Tuesday in Asia as more production facilities resumed output in the U.S. Gulf after Tropical Storm Barry made landfall in Louisiana on Saturday. U.S. Crude ... YAHOO!  

Energy Transfer Weighs Sale of Rover Pipeline Stake   Jul 16, 2019
(Bloomberg) -- Energy Transfer LP, the U.S. pipeline giant controlled by billionaire Kelcy Warren, is weighing the sale of its 33% stake in a conduit that carries Appalachian natural gas to customers across the Midwest, according to people familiar with ... Finance Yahoo  

Fire at Basra offshore oil export terminal briefly halts crude loading: Iraqi officials   Jul 16, 2019
BASRA, Iraq (Reuters) - A fire at Iraq’s southern Basra offshore oil export terminal briefly halted crude loading operations on Tuesday but was put out and loading resumed, Iraqi oil officials said. The fire occurred in a residential section of the ... Reuters  

MLP Monthly Report: July 2019   Jul 16, 2019
WES), the pipeline operator that OXY is set to acquire through its pending takeover of Anadarko Petroleum Corp. (NYSE:APC). Anadarko owns a 55.5% stake in WES. OXY had stated it would be open to ... Seeking Alpha  

Why U.S. Exports Of LNG To China Are Expected To Be A Major Component Of A Trade Deal   Jul 16, 2019
and ConocoPhillips (NYSE:COP) have quit exploring for shale gas in China due to high costs and low returns. This is why we think U.S. exports of LNG to China will be a significant component of the ... Seeking Alpha  

 As a result of high costs, major international energy companies have quit shale gas exploration in China. Hence, the sole way to supply LNG is to import from the U.S.


CORRECTED-Reuters Daily Oil Brief - July 16   Jul 16, 2019
(Corrects 'Events of the day' section to reflect today's economic events) To access a PDF version of this newsletter, please click here here You can also read Reuters Daily Oil Brief via TOPNEWS ... Reuters  

Oil steady as U.S resumes Gulf of Mexico output amid signs of further supply   Jul 16, 2019
TOKYO (Reuters) - Oil prices were steady on Tuesday after falling in the previous session as output in the U.S. Gulf of Mexico resumed after Hurricane Barry swept through over the weekend and as U.S. shale production is expected to rise to a record. Reuters  

Oil down for a second day as U.S Gulf of Mexico output returns   Jul 16, 2019
TOKYO (Reuters) - Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the U.S. Gulf after Hurricane Barry swept through over the weekend, while ... Reuters  

Oil Giants Note -- Nigeria Now Has a Chance to Open Its Fields   Jul 16, 2019
Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over. An overhaul of oil policy that’s been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer ... Bloomberg L.P.  

At Oil Search party, PNG prime minister seeks bigger slice of cake   Jul 16, 2019
Prime Minister James Marape’s comments come as Oil Search and partners Exxon Mobil Corp (XOM.N) and Total SA (TOTF.PA) face delays on a $13 billion plan to double liquefied natural gas (LNG ... Reuters  

EU slaps sanctions on Turkey over gas drilling off Cyprus   Jul 16, 2019
The Cyprus government has licensed energy companies including ExxonMobil, France's Total and Italy's Eni to carry out gas drilling in blocks, or areas, off the island's southern coastline. At least three significant gas deposits have so far been discovered ... Finance Yahoo  

U.S. Gulf of Mexico oil, gas producers begin restarting after Barry   Jul 16, 2019
Anadarko Petroleum Corp, BHP Group Ltd, Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell Plc said on Monday they had begun returning staff to evacuated platforms and were in the process of ... YAHOO! News  

Air Liquide to build $140M plant to supply Exxon-SABIC   Jul 16, 2019
A rendering of chemical plant ExxonMobil and SABIC are proposing in Portland. The companies expect to begin construction in the the third quarter. The joint venture of Exxon and SABIC have signed a deal to buy oxygen and nitrogen from Air Liquide ... Houston Chronicle  

Why the Oil Search share price is falling despite a big production boost   Jul 16, 2019
A significant increase in half-year output and revenue couldn’t save the Oil Search Limited (ASX: OSH) share price from slipping lower with the energy sector this morning. The Oil Search share price dipped 1.3% to $7.24 at the time of writing when the S ... Yahoo7 Finance  

Exxon's loss in European court case could boost EU carbon prices   Jul 16, 2019
A ruling by the European Union's Court of Justice that part of Exxon Mobil's (NYSE:XOM) natural gas processing plant in Germany should be classified as an electricity generator could mean ~3K ... Seeking Alpha  

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