Archive for the ‘Government’ Category
MARKET: Oil prices gain for two trading sessions
June 10th, 2019 by Latest News
Light, sweet crude oil on the New York market and Brent crude oil prices in London gained for a second consecutive trading session June 7. Each of the two oil benchmarks rallied to settle more than $1/bbl higher compared with the previous settlement.
Court rule allows Petrobras gas line sale
June 7th, 2019 by Latest News
A June 6 ruling by Brazil’s Supreme Court allows Petrobras to proceed with its $8.6 billion sale of a 90% interest in the Transportadora Associada de Gas SA natural gas pipeline to a combine of Engie and Caisse de Depot et Placement du Quebec.
Nigerian regulator revokes six licenses
June 7th, 2019 by Latest News
Nigeria’s Department of Petroleum Resources has revoked five oil mining leases and one oil prospecting license. It cited “noncompliance with statutory regulatory obligations” and said it was acting under a “presidential directive on recovery of legacy …
New Jersey’s Department of Environmental Protection rejected three land use permit applications for Transcontinental Gas Pipeline Co.’s (Transco) proposed interstate natural gas pipeline across the state on June 5. It also kept the door open for the Wi…
MARKET: US oil benchmark falls under $52/bbl
June 6th, 2019 by Latest News
Light, sweet oil for July fell $1.80 in New York June 5 to settle under $52/bbl while the Brent contract for August dropped $1.34 to settle under $61/bbl in London after a US government report showed US crude inventories at the highest since July 2017.
Angola to offer 10 blocks in bid round
June 5th, 2019 by Latest News
Angola’s new licensing agency will offer 10 oil and gas blocks in the first of several auctions it plans in a 6-year strategy. Paulino Jeronimo, chief executive officer of the National Agency of Petroleum, Gas, and Biofuels (ANPG) said at a conference …
CAPP: Oil, gas investment should double
June 5th, 2019 by Latest News
The Canadian Association of Petroleum Producers seeks federal support for a doubling over the next 4 years of now-slumping investment in Canada’s oil and gas industry. The group made conditions supporting such a recovery part of wish list for the next …
EIA: US crude inventories up 6.8 million bbl
June 5th, 2019 by Latest News
US crude oil inventories for the week ended May 31, excluding the Strategic Petroleum Reserve, increased by 6.8 million bbl from the previous week, according to data from the US Energy Information Administration. Separately, the American Petroleum Inst…
Canadian oil sands production growth is slowing, yet total production is expected to reach nearly 4 million b/d by 2030—nearly 1 million b/d more than current levels—according to a 10-year production forecast by IHS Markit. The business information pro…
MARKET: Brent for August rises to approach $62/bbl
June 5th, 2019 by Latest News
Light, sweet oil for July climbed modestly on the New York market to settle above $53/bbl June 4 while the Brent contract for August also gained to settle at nearly $62/bbl in London. Oil prices, along with other stocks and commodities, have been press…