WTI Crude
47.54
Brent Crude
50.14
Natural Gas
3.08

Category: July 2016

Petro index sees signs of rebound

Click HERE to Read the Article by the Publisher. The Texas oil and gas industry continued to shrink in the first six months of 2016 but rising prices and increasing rig counts might be signs that the oil patch is on the rebound, according to a statewide industry index. The latest Texas Petro Index showed crude oil prices averaged $45.19 per barrel in June, reflecting the fourth-straight monthly increase since the average fell to a low of $27.08 in February.…

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Statoil CEO Is ‘Very Confident’ Oil Will Reach $50-60 a Barrel

By: Mikael Holter Click HERE to Read Article From Publisher The chief executive officer of Norway’s biggest oil company says he has few doubts that crude will again trade at around $50 to $60 a barrel, marking a jump in prices that could be more than 30 percent compared with today’s level. “Eventually, I’m very confident that it will,” CEO Eldar Saetre said in a television interview with Bloomberg’s Manus Cranny and Anna Edwards on Wednesday. “But there is a lot of uncertainty.…

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Saudi Market Regulator to Accelerate Plans Easing Foreign Investment Restrictions

By AHMED AL OMRAN and MARGHERITA STANCATI Click HERE to Read Article From Publisher RIYADH—Saudi Arabia’s market regulator is accelerating efforts to further ease restrictions on foreign investors by the end of 2016, as it prepares to list what is likely to be its star attraction: oil giant Aramco. The Saudi Capital Market Authority in May unveiled plans to allow foreign investors to own larger stakes in listed companies as part of new regulations it expected to implement by mid-2017. “Possibly we…

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Opposing fracking is climate denial

By: Steve Everley Click HERE to Read Article From Publisher This week in Philadelphia, environmental activists are pressuring Democrats to oppose fracking during the Democratic National Convention. Their antics have been widely covered by the media, which often describe them as "climate action" or "clean energy" protests. In reality, these activists are engaging in climate denial. Consider the following facts. The U.N. Intergovernmental Panel on Climate Change (IPCC) - which climate activists have called the "gold standard" and "the most…

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High pressure water drilling touted as an environmentally friendly replacement for fracking

By Babs McHugh Click HERE to Read Article From Publisher Research undertaken at the Australian industry research outfit, CRCMining, into more environmentally friendly oil and gas drilling is ready to be commercialized. The new water-jet technology can replace traditional fracking in which water, sand and chemicals are pumped into geological structures, under high pressure, to fracture the rock and release recoverable oil and gas. The patented technology is owned by V2H International and its Australian arm is already rolling out…

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Victoria vies for billion-dollar Exxon project

By: Kathryn Cargo Click HERE to Read Article From Publisher Victoria County is one of four sites being considered for a multibillion-dollar petrochemical complex proposed by Exxon Mobil Corp. and Saudi Arabia Basic Industries Corp. The two companies are considering sites in Victoria and San Patricio counties, as well as Ascension and St. James parishes in Louisiana, which are both in between Baton Rouge and New Orleans. Saudi Arabia Basic Industries Corp. is owned by the Saudi Arabian government and is…

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Is $60 a barrel oil coming soon?

By: David Hunn Click HERE to Read Article From Publisher U.S. oil prices could rise to $60 a barrel by the end of this year, said Anadarko’s chief executive in a Wednesday earnings call, which would encourage the company to begin reinvesting in oil exploration and production. Al Walker said Anadarko anticipates that growth in demand will drive up prices. Anadarko won’t borrow to expand drilling, Walker said. The company lauded record production from several wells, including in the Gulf of…

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American shale gas heads to East Asia for first time

Click HERE to Read Article From Publisher HOUSTON/NEW YORK – East Asia, which imports more liquefied natural gas than any other region of the world, is preparing to receive its first supplies from America’s shale bounty. A tanker that loaded LNG at Cheniere Energy Inc.’s export terminal in Louisiana is bound for the Far East, according to an official at tanker owner Maran Gas Maritime Inc. who asked not to be identified because he is not authorized by the company…

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Who Should The Oil Industry Root For, Democrats Or Republicans?

By: Michael Lynch Click HERE to Read Article From Publisher Although it might seem that Democrats have usually produced more favorable environments for the petroleum industry, much of that is correlation without causality.  They have happened to be in power during the Iranian Revolution and the Arab Spring, both periods of high prices.  Of course, there might be something to the idea that Republicans are more inclined to favor free markets, which usually favor consumers over producers because they mean lower…

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Here Is A Fracking Overview Of The Natural Gas Market

By AvaTrade Click HERE to Read Article From Publisher Until this past spring, what was the worst performing commodity over the last 10 years? Crude? Platinum? Pork bellies? Not even close. Natural gas. This was supposed to be the commodity of the century. In our era of green consciousness, natural gas was a sure bet. But a funny thing happened on the way to the pay-off window: supply. Helped by new technology that enabled drillers to tap reserves never thought…

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