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Man, 18, charged in connection with graffiti at human rights museum, RCMP HQ, MP's office   Apr 05, 2020
The blockade went up on Feb. 6, as Mohawks of Tyendinaga demonstrated in solidarity with Wet'suwet'en hereditary chiefs who oppose the construction of a $6-billion Coastal GasLink natural gas pipeline in that region. Winnipeg protesters rally at MP's office in solidarity with northern B.C. pipeline opponents 'It's upsetting': RCMP HQ ... CBC.ca  

Should You Put $5,000 Into This 8.2% Dividend Stock?   Apr 05, 2020
Enbridge is the largest pipeline company in North America. It ships around 20% of the continent’s crude oil, and a similar amount of its natural gas. Pipelines are like toll roads. If you own the only road in town, your pricing power is steep. YAHOO!  

Coronavirus, Good Friday, oil: What to know in the week ahead   Apr 05, 2020
Amid the chaos caused by the COVID-19 pandemic, the oil price war between Saudi Arabia and Russia has placed additional pressure on markets. The ongoing feud has pushed crude oil (CL=F) below $20 a barrel and prices have hovered around those levels before bouncing back on positive developments. Crude oil surged 25% Thursday for its best day ... YAHOO!  

1 Way to Invest Like Warren Buffett in 2020   Apr 05, 2020
However, there was positive price movement late this week, as U.S. president Donald Trump indicated that the Saudi-Russia price war could be curtailed. Imperial Oil stock has dropped 41% over the past month. The company boasts an excellent balance sheet. It is Canada’s second-largest integrated oil company, which makes it a reliable target in ... YAHOO!  

North Sea Oil Faces Crisis   Apr 05, 2020
Oil and gas production in the North Sea became viable due to the 1973 oil crisis. The Arab-Israeli conflict caused a serious disruption that led to skyrocketing prices. Energy security became an important issue, which supported the development of the North Sea’s energy resources. However, the industry has been in decline due to sustained ... OilPrice  

Chaos and scrambling in the US oil patch as prices plummet   Apr 05, 2020
NEW YORK — In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an oil truck driver who supports his family just went a week without pay. And in Alaska, lawmakers have had to dip into the state's ... YAHOO!  

Oil prices set to open lower due to Saudi-Russia row   Apr 05, 2020
LONDON (Reuters) - Global benchmark oil prices are expected to open lower on Monday as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week. Russian President Vladimir Putin put the blame for the crash in prices on Saudi Arabia on Friday - prompting ... YAHOO!  

Commodities Week Ahead: Trump & The Oil Market - Part 1   Apr 05, 2020
Investing.com - Should Donald Trump tax the import of Saudi and selective foreign crude as a last resort to save U.S. oil producers? The president threatened on Saturday to “do whatever I have to do” in order “to protect … tens of thousands of energy workers and our great companies”. Just a day ago, he denied any plans to impose ... YAHOO!  

Saudi Arabia, Russia Push Negotiations for Historic Oil Pact   Apr 05, 2020
(Bloomberg) -- Saudi Arabia, Russia and other large oil producers are negotiating for a deal to stem the historic price rout, even as leaders trade barbs in public. “President Putin and the Russian side in general are keen to engage in constructive ... YAHOO!  

Weekly Commentary: The King Of Sovereign Subprime   Apr 05, 2020
The S&P 500 declined 2.1% (down 23.0% y-t-d), and the Dow fell 2.7% (down 26.2%). Three-month Treasury bill rates ended the week at negative 0.0575%. Japan's Ni Seeking Alpha  

Natural Gas Price Fundamental Daily Forecast – Oil Price War Truce Could Trigger Short-Covering Rally   Apr 05, 2020
Natural gas futures are trading higher on Friday after hitting a multi-year low the previous session. Thursday’s weekly U.S. Energy Information Administration (EIA) storage report failed to move the needle much although most traders interpreted the report as bearish. The reluctance to short the market at current levels on bearish data ... YAHOO!  

BPCL develops faster, cheaper tech to assay crude; in talks with MNCs for commercial tie-ups   Apr 05, 2020
The country's second largest national oil marketer Bharat Petroleum Corp Ltd has developed a novel technology to test the quality of crude oil at a fraction of the cost and time that it takes now through the lengthy lab tests. YAHOO!  

'There is some upside': Optimism in natural gas sector a result of oil industry's crisis   Apr 05, 2020
While record low oil prices are costing the vast majority of companies money on every barrel they produce, the natural gas sector is optimistic that 2020 could turn out to be a pretty good year. In short, all of the problems plaguing the oil industry — including a sharp drop in fuel demand and OPEC countries flooding the market with oil ... CBC.ca  

Egypt non-oil private sector contracts faster as virus hits - PMI   Apr 05, 2020
CAIRO (Reuters) - Egypt's non-oil private sector activity contracted at a far faster rate in March than in February as the coronavirus-induced economic slowdown spread across the globe, a survey showed on Sunday. IHS Markit's Purchasing Managers' Index (PMI) for the non-oil private sector came in at 44.2 last month, down from 47.1 in February ... YAHOO!  

Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts   Apr 05, 2020
(Bloomberg) -- Saudi Aramco delayed the release of its key monthly oil pricing list until later this week as the kingdom trades barbs with Russia about the OPEC+ meeting aimed at ending the collapse in oil prices. A new date for the announcement of Aramco’s official selling prices for May is not yet set, and the release could be pushed to ... YAHOO!  

How Saudi Arabia Can Save the Global Oil Industry   Apr 05, 2020
(Bloomberg Opinion) -- The global oil industry is on its knees. Without action from producers to reduce supply, the situation will get much worse as the world runs out of places to store crude pumped out of the ground that nobody wants. A big production cut could delay reaching that breaking point, perhaps for long enough for demand to start to ... YAHOO!  

ONGC's SOS to govt: Cut cess, royalty, free gas price to help co survive   Apr 05, 2020
India's top oil and gas producer ONGC has sent an SOS to the government seeking a cut in taxes as well as being granted pricing and marketing freedom for gas to help it weather the slump in prices tha YAHOO!  

Norway may cut its oil output if other big producers agree deal - minister   Apr 05, 2020
Western Europe's largest oil and gas producer Norway said on Saturday it would consider cutting its oil production if a global deal to curb supply is agreed by the world's biggest producers. OPEC and YAHOO!  

Oil Industry Joins The Fight Against Coronavirus   Apr 05, 2020
And oil and gas players are joining the effort. Call it what you will -- an attempt to regain credibility in the public eye, a way to take advantage of a bad situation, or simply doing the only reasonable thing to do in the circumstances, but oil and gas majors are indeed trying to help. Shell, for example, said last month that it was diverting ... OilPrice  

Trump Eyes Global Oil Output Cut of 10 Million Barrels a Day   Apr 05, 2020
(Bloomberg) -- President Donald Trump is trying to get the world to cut oil production by at least 10 million barrels a day in an effort to end a market-share war that sent crude prices plunging to the lowest levels in two decades. Trump shocked markets on Thursday by tweeting that he expected Russia and Saudi Arabia alone to cut about 10 ... YAHOO!  

Trump Says He’d Use Tariffs If Needed to Protect Oil Industry   Apr 05, 2020
(Bloomberg) -- President Donald Trump ramped up his threats to impose oil import tariffs as renewed diplomatic tension between Saudi Arabia and Russia threatens efforts to reach a new deal to cut output. Trump said Saturday at a White House press briefing ... YAHOO!  

Low crude oil prices, fall in imports, rise in value of gold help forex reserves surge   Apr 04, 2020
During the week ended March 27, while the value of gold reserves jumped by $3 billion, the foreign currency assets rose $2.5 billion. On the other hand, the net outflow by FPIs from debt and equity markets between March 20 and March 27 amounted to $3. YAHOO!  

Trump says he will consider tariffs on oil imports to protect U.S. jobs   Apr 04, 2020
WASHINGTON (Reuters) - U.S President Donald Trump said on Saturday that he will consider imposing tariffs on oil imports as he criticized plans by other major global oil producers to cut output, suggesting the United States will not join them. "It's going to hurt a lot of jobs in our country, this price," Trump told reporters during a daily ... YAHOO!  

China Prepares To Close ‘Oil Deal Of A Lifetime’ In Iraq   Apr 04, 2020
For the oil industry, this means that China is back and busy taking up where it left off in terms of exploring and developing new field opportunities. This is at a time when the U.S. is just beginning to see the full onset of coronavirus mayhem. There has been no clearer sign of this move by China than last week’s awarding of a US$203.5 ... OilPrice  

Will This Be The Slowest Year Ever For Oil & Gas Mergers?   Apr 04, 2020
When the energy sector faces a severe existential threat as it currently is after the epic oil price collapse, the usual playbook is to resort to tie-ups in a bid to survive. Unlike other industries where M&A activity tends to correlate with economic activity in the broader market, crises in the oil-and-gas sector tend to trigger a wave of ... YAHOO!  

Is Gazprom’s LNG Megaproject Doomed To Fail?   Apr 04, 2020
Yet when Gazprom announced that it would bring RusGazDobycha onboard, a low-profile company with a history of ties to Arkady Rotenberg (President Putin’s erstwhile judo partner and close confidant) with zero previous exposure to LNG technologies, Shell backed out of the project. Related: Oil Price Crash Opens A Window Of Opportunity For ... Crude Oil Prices  

OPEC+ Rejoice: U.S. Production Cuts On The Way   Apr 04, 2020
OPEC+ predicted shale would grow by 4 mmbpd by 2025, further eating into its market share. The combination of recent market share threats and COVI Seeking Alpha  

Mexican president calls on Russia, Saudi Arabia to end oil price war   Apr 04, 2020
Mexican President Andres Manuel Lopez Obrador on Saturday called on Russia and Saudi Arabia to reach a deal soon and end their oil price war to avoid deepening the oil price crisis. Mexico and others YAHOO!  

Imperial Oil: Hoping For Higher Oil Prices, Recent Cost Cutting Will Be A Big Help   Apr 04, 2020
Imperial Oil's upstream division is hurting right now, but the downstream segment will be more important for the company's survival. Even at a C$50 oil price in 2019, the downstream division reported a 51% higher pre-tax income than the upstream division. Seeking Alpha  

Demand Destruction Will Decimate Oil Prices   Apr 04, 2020
I have been warning since January that the long-term ramifications of the ongoing coronavirus (COVID-19) outbreak on the oil industry could be significant and long-lasting. In March we saw significant impacts on price and demand. What we don’t know is how long this crisis will last. But, I believe we are in the midst of an existential crisis ... OilPrice  

Russia Can Reduce Its Oil Output by 10% if the U.S. Joins Cuts   Apr 04, 2020
(Bloomberg) -- Russia would target a 1 million barrel-a-day cut in any new deal with other key oil producers, on condition the U.S. joins cuts, according to four people familiar with the sentiment in the industry. The country’s President Vladimir Putin, who said that a reduction in global oil production of about 10 million barrels a days is ... YAHOO!  

A Lame-Duck Regulator Who Became the Face of Shale in Oil Wars   Apr 04, 2020
In just a matter of weeks, Ryan Sitton went from being a lame-duck commissioner of an obscure Texas agency to one of the key figures in a global effort to save the oil market from plummeting prices. Sitton, Bloomberg  

My 3 Top Picks During The Market Crash   Apr 04, 2020
That said, more potential downside could exist should this pandemic last longer than expected. Tourmaline Oil (TSX:TOU) is a Canadian mid-sized producer of natural gas and condensate. This is one of those volatile stocks with the ability to swing wildly in each directly. Most of the recent price action for this stock has obviously been on the ... YAHOO!  

Barrick’s Strong Foundation of Stable Production Supports Its Ten-Year Business Plan and Equips It for Further Growth   Apr 04, 2020
The Circular follows the recent publication of Barrick’s 2019 Annual Report in which President and Chief Executive Mark Bristow said the work done during the past year had equipped management well to take Barrick to the next level. YAHOO!  

Cenovus Curbs Capex for 2nd Time, Defers Dividend, Up 23.6%   Apr 04, 2020
Cenovus Energy (CVE) expects to reduce its oil sands operations' sustaining costs to C$2.60 per barrel in 2020. YAHOO!  

Occidental names new CFO in latest management change   Apr 04, 2020
Oil and gas produce Corp <OXY.N> on Friday named company insider Robert Peterson as its new chief financial officer. The appointment, effective immediately, comes when the shale producer is struggling with a massive $40 billion debt load from its purchase of rival Anadarko Petroleum, YAHOO!  

Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know   Apr 04, 2020
In the latest trading session, Occidental Petroleum (OXY) closed at $13, marking a +1.8% move from the previous day. YAHOO!  

Saudi Arabia sharply rebukes Russia over oil price collapse   Apr 04, 2020
DUBAI, United Arab Emirates — Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing the tensions ahead of an emergency meeting of OPEC and other oil producers. Oil prices sharply fell after the so-called OPEC+ group of countries including ... YAHOO!  

Trump’s ‘Free Market’ Response to a Global Deal to Save Oil   Apr 04, 2020
(Bloomberg) -- On Thursday, U.S. President Donald Trump sent oil prices rallying on the prospect of an unprecedented, U.S.-backed deal to cut global crude production. On Friday, he walked out of a meeting with the titans of America’s oil industry without any public declaration of a plan to curtail domestic output, saying it’s a free market ... YAHOO!  

$1 Oil: Saudi Arabia's Attempt To Crush U.S. Shale   Apr 04, 2020
With a flood of physical crude set to hit the market, it will take weeks, not months, for global oil storage space to run out. The storage problem could grow even worse as refining capacity is coming offline due to coronavirus health risks and in some cases a (very) negative crack spread caused by a double whammy of low fuel demand and crude ... OilPrice  

IEA: OPEC Can’t Save The Oil Market   Apr 04, 2020
Even if the OPEC+ group and other major oil producers in the world were to agree to deep production cuts, they would be unable to prevent what is sure to be an enormous global inventory build this quarter due to unprecedented demand destruction, Fatih Birol, Executive Director of the International Energy Agency (IEA), told Reuters on Friday. OilPrice  

Coronavirus oil plunge leads Trump to offer storage until prices recover   Apr 03, 2020
President Trump announced Friday that he would open the Strategic Petroleum Reserve for energy companies to store oil to be sold once prices improve. “With all the jobs and all the good that they do we’re going to make sure that they stay in good shape, YAHOO!  

The OPEC Meeting Could Send Oil Prices Crashing Below $10   Apr 03, 2020
There is plenty of optimism in oil markets this week as rumors of a global production cut send prices higher, but next week’s OPEC meeting may send prices crashing YAHOO!  

Russian Oil Firms Ready To Agree To A Production Cut Deal   Apr 03, 2020
With oil prices below Russia’s budget breakeven and with over 20 percent of global oil demand wiped out by the coronavirus pandemic, Russian oil firms could be ready to participate in a global production cut deal with Saudi Arabia, the United States, and other major producers, sources familiar with the matter told Bloomberg. Russian oil firms ... OilPrice  

Putin Echoes Trump’s Call for Oil Producers to Cut Output   Apr 03, 2020
(Bloomberg) -- Russian President Vladimir Putin said his country is prepared to take part in deep cuts in oil production together with Saudi Arabia and other major producers to halt the slide in prices, echoing an announcement by his U.S. counterpart Donald Trump. “We are ready to reach terms with partners within the framework of OPEC+ and ... YAHOO!  

‘Delivering over 60 lakh LPG cylinders daily’   Apr 03, 2020
Our team is doing great work in ensuring uninterrupted LPG supplies to all households in every corner of the country. More than 60 lakh cylinders are being delivered every day, said Petroleum & Natural Gas Minister Dharmendra Pradhan. YAHOO!  

Explainer: Antitrust law won't get in the way of U.S. acting to raise oil prices   Apr 03, 2020
WASHINGTON (Reuters) - It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday. That said, the decision by a Texas state official to talk with Saudi Arabia and ... YAHOO!  

White House convenes oil CEOs as bust threatens US boom   Apr 03, 2020
WASHINGTON — President Donald Trump offered assurances of better times and coronavirus tests to oil CEOs at a White House summit Friday, but no firm proposals for easing the industry's way as the coronavirus pandemic and plunging petroleum prices threaten America's yearslong fracking boom. Executives of Chevron, Exxon and other large and ... YAHOO!  

A Wave Of Downgrades Has Hit The U.S. Oil Patch   Apr 03, 2020
The oil price crash has seen multiple oil and gas producers have their bonds pushed into distressed territory, with the credit agencies downgrading them to junk ratings YAHOO!  

Occidental Petroleum promotes Peterson to CFO   Apr 03, 2020
Occidental Petroleum (NYSE:OXY) names Robert Peterson as its new CFO, replacing Cedric Burgher, who will transition to another role in the company.Peterson has served as Senior VP, Permian EOR, Occide Seeking Alpha  

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