Monthly Archives: December 2017

Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up

Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up

Canada oil producers exhaust options as pipelines, railroads fill

Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up, driving prices to four-year lows and increasing the risk of firms ...

Source: FB-RSS feed for BOE Report

Nordic American Offshore Ltd. (NYSE:NAO) Results of Annual General Meeting of Shareholders

Hamilton, Bermuda, December 18, 2017 Nordic American Offshore LTD (the “Company”) (NYSE: NAO) conducted its Annual General Meeting of Shareholders (the “Meeting”) on December 12, 2017 in Hamilton, Bermuda.  The following resolutions were approved and adopted at the Meeting: 1.     Election of David M. Workman as Class A Director to serve until the 2020 Annual [Read More…]

Source: BOE Report

Stanislaus County Deploys California’s First Innovative EGRP® Infiltration System

OAKDALE, Calif., Dec. 18, 2017 /PRNewswire/ — As California copes with fewer and more intense rain events, Stanislaus County is taking action to adapt by deploying a state-of-the-art infiltration enhancement technology, from The Water Group, LLC. The technology will sustainably capture stormwater to accelerate groundwater recharge and reduce standing water on city roads to improve public safety. [Read More…]

Source: BOE Report

Baker Hughes, a GE company Announces Early Tender Results of Maximum Tender Offers by Baker Hughes, a GE company, LLC

LONDON & HOUSTON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE: BHGE) (“BHGE”) announced today the early tender results of the previously announced cash tender offers (the “Maximum Tender Offers”) by its subsidiary, Baker Hughes, a GE company, LLC (“BHGE LLC”) to purchase up to $175 million (the “Aggregate Maximum Purchase Price”) in aggregate purchase price of [Read More…]

Source: BOE Report

Trump’s National Security Plan: ‘Energy Dominance,’ Not ‘Anti-Growth’ Climate Policies

President Donald Trump’s administration prioritizes U.S. “energy dominance” through promoting exports, innovation and cutting regulations, according to the federal government’s National Security Strategy. The White House’s security strategy is a rejection of former President Barack Obama’s administration, that prioritized fighting man-made global warming. Trump’s strategy no longer lists global warming as a nation security concern. [Read More…]

Source: BOE Report

Gas Circuit Breaker Market Expected to Behold a CAGR of 4.6% Through 2017-2027

VALLEY COTTAGE, New York, December 18, 2017 /PRNewswire/ — A research report on the gas circuit breaker market skilfully crafted by Future Market Insights reveals several aspects of the global market along with key trends and developments. The research publication titled “Gas Circuit Breaker Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” uncovers numerous [Read More…]

Source: BOE Report

Statoil acquires 25% of the Roncador field in Brazil and advances its strategic partnership with Petrobras to increase recovery

Statoil ASA (OSE:STL, NYSE:STO) and Petróleo Brasileiro S.A. - Petrobras (“Petrobras”) (BVMF: PETR4, NYSE:PBR) have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil. The transaction nearly triples Statoil’s production in Brazil, with attractive break-evens and potential for additional value creation for both parties through the application of Statoil’s expertise in improved oil recovery (IOR). The total consideration comprises an initial payment of USD 2.35 billion, plus additional contingent payments of up to USD 550 million.

Source: Statoil - Vacant positions

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Trafigura finds creative trade finance solutions: Fuel for Thought

A tough financing environment and the pressures of a highly competitive and low-margin business have forced commodity traders to tap new, and often unusual, avenues for raising cash.

In November, one of the world’s largest commodity traders Trafigura issued $470 million of bonds, through a newly incorporated Singapore subsidiary Trafigura Commodities Funding Pte Ltd, to six banks—DBS Bank, Mizuho Bank, Natixis, Oversea-Chinese ...


Source: Platts - The Barrel Blog News Feed

With Tribal Blessing, Louisiana Activist Buys Land in Path of Proposed Bayou Bridge Pipeline

Cherri Foytlin at the entrance to land in the path of the Bayou Bridge pipeline

On December 16 anti-pipeline activists calling themselves water protectors gathered in Rayne, Louisiana, on land located along the proposed route of the Bayou Bridge pipeline. The gathering occurred two days after the U.S. Army Corps of Engineers and the Louisiana Department of Environmental Quality granted Energy Transfer Partners (ETP) the last permit needed to build the pipeline.

The proposed pipeline would transport crude oil obtained ...

Source: DeSmogBlog

Georgia Power Update: Hartsfield-Jackson International Airport

ATLANTA, Dec. 17, 2017 /PRNewswire/ — Georgia Power continues to work closely with Hartsfield-Jackson International Airport personnel onsite to restore power to the Airport as quickly as possible. Assessment and repair efforts are well underway at this time and the company expects to have power restored to the Airport by midnight tonight. Georgia Power believes the [Read More…]

Source: BOE Report

Siem Helix 2 Commences Operations in Brazil

HOUSTON–(BUSINESS WIRE)–Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that the Siem Helix 2 has successfully completed the vessel acceptance process and is on contract offshore Brazil. The vessel will be performing well intervention services under a multi-year contract with Petrobras. Owen Kratz, President and Chief Executive Officer of Helix, stated, “We are pleased [Read More…]

Source: BOE Report

Yuan-Priced Crude Futures Could Arrive Before Christmas

After years of setbacks and delays, China may be days away from launching a yuan-priced crude oil futures contract to make its currency more international and challenge the dominance of the petrodollar.   Many Chinese investors eagerly anticipate the start of yuan oil futures trading on the Shanghai International Energy Exchange, with hope it will come just in time for ...

Source: Oilprice.com

How Energy Investors Are Getting In On The Bitcoin Boom

I have never subscribed to the Bitcoin craze. In my opinion, it is a massive pyramid scheme that is rapidly creating a dangerous bubble. The kind of dangerous bubble we haven’t seen since the subprime mortgage implosion almost a decade ago. However, I am not here to talk about the sustainability of Bitcoin. I’m here to talk about the massive ...

Source: Oilprice.com

The Secret To Replacing Fossil Fuels

When it comes to renewables, skeptics tend to point out the lower efficiency rates as opposed to fossil fuels, the high costs, and the dependence on subsidies for making a profit. But technology is coming to the rescue, accelerating efficiency gains and cost reductions. Technology is too general a term, however. Specifically, it’s supercomputers that are making the difference for ...

Source: Oilprice.com

OPEC’s Oil Production Slips In November

The OPEC data below was taken from the December OPEC Monthly Oil Maret Report. All data is through November 2017 unless otherwise noted. (Click to enlarge)OPEC crude oil production declined by 133,500 barrels per day in November. (Click to enlarge) (Click to enlarge)Algeria was up slightly in November after that huge decline in October. (Click to enlarge)Angola was the biggest loser in November, ...

Source: Oilprice.com

Carl Baker and Howard Hughes

 

Oil services providers Baker Hughes and Hughes Tools are two historic petroleum industry companies that market products and services worldwide – competing with Schlumberger, a company founded in France in 1926, and Halliburton, which began in 1919 as a well-cementing company. All specialize in maximizing oil and natural gas production throughout the life of a reservoir. Halliburton’s only real service company competitor for ...

Source: American Oil & Gas Historical Society

Our skilled workers always put high quality and safety at the center of what they do…

Our skilled workers always put high quality and safety at the center of what they do, both at the workshop and on sites. Here at #CNI, all of us are committed to adhering strictly to the codes. . Learn more about our Quality Control system at http://cnipvc.com/qa-qc-system/

Source: FB-RSS feed for CNI - CN Industrial Co.

Canadian Oil Prices Plunge To $30

Oil from Canada’s oil sands is now selling at a $27-per-barrel discount relative to WTI, the sharpest difference in more than four years. Western Canada Select (WCS), a benchmark for oil from Alberta’s oil sands, has plunged in December, falling to just $30 per barrel at the end of this past week. WCS typically trades at a discount to WTI, ...

Source: Oilprice.com