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Africa’s Biggest Investment Takes Shape Under Islamist Threat   Jul 05, 2020
Dozens of soldiers clutching AK-47s and grenade launchers watch over roaring bulldozers on the white sand beach that meets a tropical turquoise sea. They’re guarding Africa’s biggest investment: a $23 billion project to export Mozambique’s natural gas from an area increasingly besieged by an Islamist insurgency. Bloomberg  

Lost in Oil’s Rally: $2 Trillion-a-Year Refining Industry Crisis   Jul 05, 2020
Crude oil is the world’s most important commodity, but it’s worthless without a refinery turning it into the products that people actually use: gasoline, diesel, jet-fuel and petrochemicals for plastics. Bloomberg  

Exclusive: CIMB alleges 'suspicious' Hontop Energy oil deals with BP - affidavit   Jul 04, 2020
Singapore's High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. Reuters  

Moscow Backs Russia's Fastest Moving Energy Company   Jul 04, 2020
This would be perhaps understandable if NOVATEK were a state-owned company but nominally it is not – the only lever the state has over it is Gazprom’s 10-percent stake (reality is much more nuanced). OilPrice  

Deer blamed for collision between semi-trucks on Pat Bay Highway   Jul 04, 2020
Saanich police say a deer on the roadway led to a collision between two semi-trucks on the Pat Bay Highway Saturday morning. CTV News  

The World’s Most Important Oil Consumers And Producers   Jul 04, 2020
Over the past 35 years, global oil consumption has risen on average 1.1 million bpd each year, and recently, China has played a major role in that growth OilPrice  

Joe Biden and OPEC threatening US oil independence   Jul 04, 2020
The battle to win U.S. energy independence has been long, hard and well worth it but the industry is facing new foreign threats from OPEC as well as right here at home from Democratic Presidential nominee Joe Biden. YAHOO!  

Yemen Calls for UN Meeting on Aging Oil-Storage Facility   Jul 04, 2020
The condition of the Safer Oil floating oil-storage and offloading vessel in the Red Sea is deteriorating and requires urgent inspection, Foreign Minister Mohammed al-Hadhrami sai Bloomberg  

Sell Exxon, buy Chevron and Conoco ahead of earnings, Goldman says   Jul 04, 2020
Buy Chevron (NYSE:CVX) and ConocoPhillips (NYSE:COP) but sell ExxonMobil (NYSE:XOM), Goldman Sachs analyst Neil Mehta says ahead of the energy giants' upcoming earnings reports, which he believes will Seeking Alpha  

Oil and Gas Pipeline MLP's Outlook Promising Despite Coronavirus   Jul 04, 2020
Pipeline MLP industry comprises master limited partnerships (or MLPs) which are primarily engaged in transporting oil, natural gas, refined petroleum products and natural gas liquids (NGL) to consumers in North America. YAHOO!  

Why Natural Gas Prices Are Unlikely to Stage a Big Rebound   Jul 04, 2020
Natural gas stockpiles held in underground storage in the lower 48 states are 30.1% above 2019 levels at this time and 17.8% over the five-year average. YAHOO!  

The Oil Rally Has Stalled Once Again   Jul 03, 2020
Oil prices rallied once again this week, hitting four-month highs, but bearish sentiment quickly returned to cap gains OilPrice  

Petrobras considers LNG units for pre-salt's natural gas: executive   Jul 03, 2020
Brazilian state-run oil company Petrobras is considering installing offshore units to liquefy the growing natural gas production at the so-called pre-salt area, Viviana Coelho, the company's emissions and climate change manager, Reuters  

Crude Oil Weekly Price Forecast – Crude Oil Markets Continue Sideways Grind   Jul 03, 2020
WTI Crude Oil. The West Texas Intermediate Crude Oil market rallied during the bulk of the week, with perhaps the exception of the Friday session which of course was a holiday. Wi YAHOO!  

High Quality Oil And Gas Assets Should Drive An M&A Recovery   Jul 03, 2020
Dealmaking in the oil and gas sector collapsed in Q1 with the broader energy market, but now with a ton of good deals on the table, activity is slowly expected to recover OilPrice  

Crude Oil Price Forecast – Crude Oil Markets Pressing Resistance   Jul 03, 2020
Crude oil markets have done little on Friday, as we are pressing previous resistance. It was a holiday in the United States and liquidity was very low. YAHOO!  

Natural Gas Weekly Price Forecast – Natural Gas Markets Form Strong Candle   Jul 03, 2020
Natural gas markets rallied quite a bit during the week, as we are starting to see very hot temperatures in the United States and more bankruptcies. YAHOO!  

Total Sends Drilling Rig To South Africa To Capitalize On Previous Success   Jul 03, 2020
French oil giant Total SA has sent a drilling rig to South Africa in the hopes of duplicating its massive find there last February Crude Oil Prices  

Natural Gas Price Forecast – Natural Gas Markets Pressuring Resistance   Jul 03, 2020
Natural gas did truly little on Friday, but we remained near the resistance at $1.80. That in itself is a sign the buyers are still looking to take control. YAHOO!  

Natural Gas Price Fundamental Daily Forecast – EIA Storage Build Smaller Than Estimate   Jul 03, 2020
With the exception of Thursday’s rally, most of the gains were attributed to hot weather and short-covering. And maybe some speculative buyers. YAHOO!  

Natural Gas Price Prediction – Prices Rally on Soft Inventory Build   Jul 03, 2020
Natural gas prices rallied 3.5% on Thursday following a smaller than expected build in natural gas inventories. Strong than expected US jobs data helped lift natural gas. With several states scaling back their reopening up efforts, YAHOO!  

Oil falls below $43 a barrel on virus fears, still heads for weekly gain   Jul 03, 2020
Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery. Reuters  

Venezuela sanctions set off fight for 'plundered' oil cargo   Jul 03, 2020
MIAMI — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes legal fight playing out in a federal courtroom as a result of American sanctions on Venezuela. YAHOO!  

Correction: Venezuela-Oil Cargo Seizure story   Jul 03, 2020
In a story on June 30, 2020, The Associated Press erroneously reported that prosecutors in Greece opened a preliminary criminal investigation against ship owner Evangelos Marinakis stemming from the seizure of heroin aboard one of his vessels. YAHOO!  

Houthis Aim To Repair Unrepairable Oil Tanker In Vital Shipping Lane   Jul 03, 2020
The Houthi rebels in Yemen claim they have sent a team to repair an oil tanker full of 1 million barrels of oil sitting off the Yemeni coast for five years and threatening to leak oil into the sea or OilPrice  

Keystone XL construction begins in Canada; Alberta premier sees momentum   Jul 03, 2020
TransCanada (NYSE:TRP) has started construction on the Keystone XL pipeline on the Canada side of the border, and Alberta Premier Kenney hopes the project's momentum will make it difficult for a futur Seeking Alpha  

U.S. Rig Count Declines for the Fourth Consecutive Month   Jul 03, 2020
With oil prices recovering gradually, most analysts opine that the decline in the tally of monthly rig will narrow down further. YAHOO!  

Construction begins on Keystone XL pipeline in Alberta   Jul 03, 2020
More than 10 years since the project was first announced, work has finally begun on the Keystone XL pipeline as crews are now on site in Oyen, Alta. CTV News  

Enbridge Algonquin rate settlement gets FERC approval   Jul 03, 2020
Algonquin Gas Transmission unit gets approval from the Federal Energy Regulatory Commission of its uncontested rate settlement with customers.Enbridge said that Algonquin and its Seeking Alpha  

A Clear Sign That OPEC Compliance Is Working   Jul 03, 2020
At the same time, Russia says OPEC cuts will likely ease off in August, and that by July we could even be looking at a deficit, despite the fact that consumption may not recover before the end of 2021. OilPrice  

Oil Prices Fall As Demand Outlook Worsens In U.S.   Jul 03, 2020
Oil prices fell early on Friday amid surging new coronavirus infections in the United States, which had market participants worried about the U.S. oil demand recovery trend. As of 9:20 a.m. EDT on Friday, OilPrice  

The Multi-Billion Dollar Price Tag For Iraqi Oil Compliance   Jul 03, 2020
The U.S., Saudi Arabia and the IMF are pouring money into Iraq to ensure both compliance and geopolitical benefits OilPrice  

Oil Capped By COVID Fears   Jul 03, 2020
Oil prices rose this week on a mix of bullish news, but a second wave of infections in some parts of the U.S. cap gains as traders continue to tread carefully OilPrice  

PRESS DIGEST-Canada - July 3   Jul 03, 2020
July 3 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Brookfield Asset Management Inc will advance $1 billion to its real estate partnership, Brookfield Property Partners LP. https://tgam.ca/2BpVmby ** Lenders holding most of Cirque du Soleil Entertainment Group's C$1 billion in secured debt will not accept a bid for the insolvent company launched by shareholders this week, and say they will oppose any proposal that does not offer them full payment. https://tgam.ca/3glZJTv ** Three British Columbia Indigenous groups have vowed to keep fighting the Trans Mountain pipeline expansion after the Supreme Court of Canada decided it would not hear their appeal of the project's approval. https://tgam.ca/2VHvb6Z NATIONAL POST ** Cenovus Energy Inc is the first Canadian oilsands company to announce it's shipping crude via the Panama Canal to Irving Oil Ltd's refinery in Saint John, New Brunswick. https://bit.ly/2VHSPA2 (Compiled by Bengaluru newsroom) YAHOO!  

Texas oil industry crafts plan for students to graduate debt free with 6-figure job   Jul 03, 2020
The program would help fill the hundreds of thousands of positions that will be needed in the coming years to develop the massive 2016 oil discovery in the Permian Basin, located in West Texas and New Mexico. YAHOO!  

Oil Price Fundamental Daily Forecast – Rising U.S. Initial Claims Could Weaken Future Demand   Jul 03, 2020
Gains were capped and there was an air of caution ahead of the long holiday weekend as a resurgence in U.S. coronavirus infections fanned concerns. YAHOO!  

Exxon May Finally Book Major Writedowns   Jul 03, 2020
ExxonMobil could write down the value of its oil and gas assets as soon as this month, Wall Street analysts told Reuters on Friday OilPrice  

Oil Price Crash Leads To Sharp Contraction In Gulf Economies   Jul 03, 2020
Gulf economies will experience a combined contraction of 7.6 percent this year because of the oil price crash, a senior IMF official has forecast. This is a sharp downward revision from an earlier forecast by the international lender, OilPrice  

New Oil Rig Sent to South Africa for Rare Frontier Drilling   Jul 03, 2020
Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. Bloomberg  

Poland and Germany to cut Russian pipeline oil imports in July -traders   Jul 03, 2020
Poland and Germany are set to reduce purchases of Russian flagship Urals crude blend via the Druzhba pipeline this month after Moscow cut its oil output along with other leading producers, traders said on Friday. Reuters  

Exxon Mobil Suffers Quarterly Loss on Lower Oil and Gas Prices   Jul 03, 2020
Exxon Mobil Corporation said in its regulatory filing on Thursday that it has incurred an unprecedented second straight quarterly loss from the fall in oil and natural gas prices after coronavirus lockdown restrictions dampened energy demand worldwide. YAHOO!  

EMERGING MARKETS-Latam assets muted; Oil-linked currencies to outperform for week   Jul 03, 2020
Still, the positive news drove gains in commodity markets, which in turn saw oil and metal-linked assets in Latin America outperform for the week. It also helped regional risk assets weather a ... Reuters  

ExxonMobil's Upstream to Incur Q2 Loss, Refining to Take a Hit   Jul 03, 2020
ExxonMobil (XOM) plans to slash 2020 capital spending and cash operating expenses to make up for the massive shortfall in cash flows, while managing to avoid any write-down so far. YAHOO!  

Techniques To Avoid Dividend Cuts   Jul 03, 2020
When you see companies that are getting beaten down more than others, this is normally a sign that something is wrong. Many companies that keep their dividend s Seeking Alpha  

Japan Bets Big On Mozambique LNG   Jul 03, 2020
In partnership with the business sector, the Japanese government will invest some $14.4 billion (1.5 trillion yen) in liquefied natural gas development in Mozambique OilPrice  

Saudi Arabia And Kuwait Restart Production At Huge Shared Oil Field   Jul 03, 2020
Khafji oil field in the neutral zone between the two countries, Turkey’s Anadolu Agency reported, citing a statement by the acting CEO of the Kuwait Gulf Oil Company. The official Twitter account of the company posted an update yesterday, OilPrice  

The Stakes Of Losing This DICE Game Are Enormous   Jul 03, 2020
The critique of Nordhaus’s DICE model came from the enormously creative, though admittedly heterodox, post-Keynesian Australian economist Professor Steve Keen. I have listened to some of Keen’s YouTube lectures about debt levels — he was one of a few maverick economists that correctly predicted the 2008-2009 mortgage crisis — but did not know that he had done any work on climate change economics. Forbes  

Oil Pares Weekly Gain With Virus Fears Countering Tighter Supply   Jul 03, 2020
Oil slipped on Friday, paring a weekly gain as surprisingly strong U.S. economic data and tightening crude supplies jostled with fears that a coronavirus resurgence will erode demand.Futures fell toward $40 a barrel in New York, YAHOO!  

Enterprise Products Grabs New Long-Term Propylene Supply Deal   Jul 03, 2020
Enterprise Products Partners' (EPD) second propane dehydrogenation plant near Mont Belvieu, TX ??? which is currently under construction ??? is likely to come online in second-quarter 2023. YAHOO!  

Crude Oil Lower; OPEC Disputes and Virus Cases Weigh   Jul 03, 2020
Oil markets slipped Friday as the resurgence of Covid-19 cases, particularly in the U.S., the largest consumer in the world, threatened the recovery of crude demand. At 7:30 AM ET (1130 GMT), U.S. crude futures traded 1. YAHOO!  

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