Author: Tsvetana Paraskova

  • Blockchain Isn’t The Only Tech Disrupting Global Energy

    Digital disruption may be one of the most overused buzzwords these days, but the world is going increasingly digital and disruption is everywhere—we have drones delivering pizzas and home gadgets connected to our phones. Digitalization has so profoundly changed our lives that it’s inevitable that’s also transforming all industries and the ways product manufacturers and service providers and consumers interact. The energy sector is no exception to this trend, and is seeing various changes in production and distribution thanks to…

  • Senators Call For Investigation Of Enbridge Pipeline

    U.S. Senators Debbie Stabenow and Gary Peters of Michigan are raising serious concerns about the conditions of Enbridge’s Line 5 Pipeline running through the Straits of Mackinac and are seeking a federal investigation to determine if Enbridge has complied with reporting and safety standards. Following reports that Enbridge did not disclose problems in the protective coating of Line 5 for more than three years, the Senators are asking the Pipeline and Hazardous Materials Safety Administration (PHMSA) “to determine whether Enbridge committed…

  • Citi: Don’t Expect OPEC To Extend Production Cuts

    Citigroup predicts that companies planning to profit off of an OPEC deal extension next month are setting themselves up to be disappointed. So far, most hedge funds bet that Brent futures will rise as a result of an agreement extension that will extend 1.2 million barrels per day worth of cuts through 2018. The bloc’s November 30th meeting in Vienna may not deliver its public promises though, the bank says. “There is an exuberance in the market about there being a done deal to extend through the end of 2018 and I think there’s…

  • Senators Call For Investigation Of Enbridge Pipeline

    U.S. Senators Debbie Stabenow and Gary Peters of Michigan are raising serious concerns about the conditions of Enbridge’s Line 5 Pipeline running through the Straits of Mackinac and are seeking a federal investigation to determine if Enbridge has complied with reporting and safety standards. Following reports that Enbridge did not disclose problems in the protective coating of Line 5 for more than three years, the Senators are asking the Pipeline and Hazardous Materials Safety Administration (PHMSA) “to determine whether Enbridge committed…

  • ConocoPhillips Extends Share Buybacks Through 2020

    ConocoPhillips (NYSE:COP) plans to extend share buybacks for another year to boost capital spending to $5.5 billion annually through 2020, based on a flat real WTI price of $50 a barrel, in a sign that it’s targeting higher profits and shareholder returns. ConocoPhillips aims to achieve greater than 30-percent payout of cash provided by operating activities to shareholders annually, including dividends and share buybacks, the largest independent U.S. exploration and production company said on Wednesday ahead of its analyst and investor meeting…

  • China Relaxes Rules For Teapot Refiners

    In a rather unexpected move, China raised the crude oil import quotas for “non state trade”—basically for independent refiners—by 55 percent for 2018 compared to 2017, signaling that it could be relaxing the rules for the so-called teapots and giving them more share of China’s oil imports. China’s Ministry of Commerce not only issued larger quotas, but made the announcement earlier than expected. Non-state companies now can begin applying for 2018 crude oil import quotas for a total of 142.42 million tons, or…

  • Shell To Hand Over Majnoon Stake To Iraq’s Basra Oil By 2018

    After months of negotiations, Shell has agreed to hand over its stake in Iraq’s large Majnoon oil field to state-held Basra Oil Company by the end of the first half next year, two officials close to the talks told Reuters on Wednesday. At the Majnoon oilfield near Basra in southern Iraq, Shell is currently the operator and holder of a 45 percent stake, with Malaysia’s Petronas owning 30 percent, and Iraq’s Missan Oil Company holding the remaining 25 percent. The oilfield started production in 2014 and now produces an average of…

  • Shell To Hand Over Majnoon Stake To Iraq’s Basra Oil By 2018

    After months of negotiations, Shell has agreed to hand over its stake in Iraq’s large Majnoon oil field to state-held Basra Oil Company by the end of the first half next year, two officials close to the talks told Reuters on Wednesday. At the Majnoon oilfield near Basra in southern Iraq, Shell is currently the operator and holder of a 45 percent stake, with Malaysia’s Petronas owning 30 percent, and Iraq’s Missan Oil Company holding the remaining 25 percent. The oilfield started production in 2014 and now produces an average of…

    The post Shell To Hand Over Majnoon Stake To Iraq’s Basra Oil By 2018 appeared first on aroundworld24.com.

    The post Shell To Hand Over Majnoon Stake To Iraq’s Basra Oil By 2018 appeared first on forexnewstoday.net.

  • Shell To Hand Over Majnoon Stake To Iraq’s Basra Oil By 2018

    After months of negotiations, Shell has agreed to hand over its stake in Iraq’s large Majnoon oil field to state-held Basra Oil Company by the end of the first half next year, two officials close to the talks told Reuters on Wednesday. At the Majnoon oilfield near Basra in southern Iraq, Shell is currently the operator and holder of a 45 percent stake, with Malaysia’s Petronas owning 30 percent, and Iraq’s Missan Oil Company holding the remaining 25 percent. The oilfield started production in 2014 and now produces an average of…

  • OPEC Eyes $70 Oil

    Brent prices hit $60 a barrel 10 days ago and have maintained that level ever since, sparking talk that this could be the new floor under oil prices and that $70 oil in the short term is now not only in producers’ wildest dreams, but a real possibility.   Although OPEC never officially admitted it, analysts have largely thought that pushing oil up to $60 was one of the cartel’s goals with the production cut deal. Three weeks before OPEC’s November 30 summit in Vienna, some oil producers have already started thinking that…