Category Archives: News

Prosafe SE: Part conversion of convertible bonds, new shares issued

Reference is made to the convertible bonds issued by Prosafe SE (“Prosafe” or the “Company”) on 15 September 2016, with ISIN NO 001077102.5 (“Convertible Bonds”). Notice for part conversion has been received on the basis of which Convertible Bonds of nominal value NOK 2,000,000 have today been converted into 80,000 new ordinary shares in the [Read More…]

Source: BOE Report

Canada’s Natural Gas Future – A Panel Discussion

Natural gas has been globally identified as a key factor in the transition to a low carbon economy. It is 50% cleaner when displacing coal for power generation, reduces GHG by 18% compared to diesel, and is a flexible partner with renewable energy. At the same time there are positive economic benefits for Canadians and [Read More…]

Source: BOE Report

Oil prices drop on potential increase in OPEC output

Oil prices fell on Thursday onexpectations that OPEC members will step up production in theface of worries over supply from both Venezuela and Iran. A surprise build up in crude oil inventories in the UnitedStates also weighed on prices, driving the spread between Brentcrude and U.S. West Texas Intermediate (WTI) close to its widestin three [Read More…]

Source: BOE Report

EV Revolution Could Wipe Out $21 Trillion In Oil Revenue

Hardly a day goes by without a research company releasing yet another report forecasting the future of electric vehicles and all related industries, oil included. Some of these are skeptical, but most predict a bright future for electric cars. The latest is no exception: a UK-based company, Aurora Energy Research, has projected that the adoption of electric cars could wipe ...

Source: Oilprice.com

Hemisphere Energy Announces Q1 2018 Financial and Operating Results

TSX-V: HME VANCOUVER, May 23, 2018 /CNW/ – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the  “Company”) announces its financial and operating results for the three months ended March 31, 2018.  Q1 2018 Highlights Achieved quarterly production average of 858 boe/d (95% oil), a 47% increase over the first quarter of 2017. Increased revenue by 48% [Read More…]

Source: BOE Report

Mexico’s Oil Sector Set For A Jolt

Several years on from the semi-privatization of its oil sector, Mexico has lined up tens of billions of dollars of potential investment in offshore drilling. But just as the fruits of the energy reforms are becoming visible, the entire effort is at risk as the political winds shift against it. Mexico’s oil production has been in steady decline since the ...

Source: Oilprice.com

Oil Pares Gain as IEA Discusses Ways to Tackle Venezuela Risks (Wednesday, 23 May 2018)

Oil traded near $71/bbl, paring earlier gains, as the International Energy Agency said it’s in talks with producing nations to step in should sanctions be imposed on Venezuela, resulting in a supply shortfall.

Futures in New York rose 0.2%. The IEA expects some of the biggest oil-producing nations to step in to ease any deficit after President Nicolas Maduro’s ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Koch-Backed and Anti-Renewable Energy Groups Wooing Interior Department Official

Vincent DeVito

Fossil fuel groups backed by the Koch brothers and lobbyists for anti-renewable energy entities have been courting an Interior Department official responsible for energy policy, according to internal documents. Vincent DeVito, a senior energy advisor to Interior Secretary Ryan Zinke, has received considerable attention from these groups, accepting several invitations to closed meetings and conferences.

Source: DeSmogBlog

Northern B.C. gas pipeline designed to supply LNG industry wins NEB approval

CALGARY – The National Energy Board has approved construction of a natural gas pipeline originally intended to supply the Pacific NorthWest LNG export terminal near Port Edward, B.C., even though that $36-billion project was cancelled last July. The NEB says it will grant an amendment to Nova Gas Transmission Ltd., a subsidiary of Calgary-based TransCanada [Read More…]

Source: BOE Report

NEB Decision for North Montney Mainline Project

CALGARY, May 23, 2018 /CNW/ – The National Energy Board (NEB or Board) announced today that it has approved NOVA Gas Transmission Ltd. (NGTL)’s request to modify its Certificate for the North Montney Mainline Project, and for certain associated Project modifications. However, given the changes, the Board found that NGTL’s proposal to maintain the current tolling methodology [Read More…]

Source: BOE Report

Oilsands tailings pond approval terms shortened for former Shell facilities

CALGARY – The Alberta Energy Regulator says it has approved tailings pond management plans for two former Shell Canada oilsands mines in northern Alberta but has identified “deficiencies” in the plans that must be addressed over the next three or four years. The regulator says the plans associated with the mines are inadequate in dealing [Read More…]

Source: BOE Report

NEB Decision for North Montney Mainline Project

The National Energy Board (NEB or Board) announced today that it has approved NOVA Gas Transmission Ltd. (NGTL)’s request to modify its Certificate for the North Montney Mainline Project, and for certain associated Project modifications. However, given the changes, the Board found that NGTL’s proposal to maintain the current tolling methodology was not appropriate for the long term. The Board ...

Source: National Energy Board - What's New

Alberta refuses to endorse official statement from western premiers meeting

Alberta has refused to endorse the official statement stemming from the western premiers meeting in Yellowknife because it didn’t include support for the Trans Mountain pipeline. The final communique deals with issues such as pharmacare and legalization of marijuana. Alberta deputy premier Sarah Hoffman said without the wealth that would flow from the expansion of [Read More…]

Source: BOE Report

Why Southern Company Just Sold Billions In Prime Assets

On May 21, Southern Company, the utility holding company based in Atlanta, with core electric utility franchise areas in Georgia and Alabama, announced a multi-billion dollar asset sale with proceeds designated to pay down debt. The buyer is NextEra Energy, located in neighboring Florida. In the deal, Southern will sell its Florida utility subsidiary, Gulf Power, plus gas utility and ...

Source: Oilprice.com

China is going to sell half the world’s electric cars by borrowing policies from California

Chen Hao, Dongfeng Nissan Passenger Vehicle company's deputy managing director speaks near the Nissan IMX concept car during the start of the Auto China 2018 in Beijing, China, Wednesday, April 25, 2018. Volkswagen and Nissan have unveiled electric cars designed for China at the Beijing auto show that highlights the growing importance of Chinese buyers for a technology seen as a key part of the global industry's future. (AP Photo/Ng Han Guan)

Ninety seven million new vehicles were sold globally last year. Only about 2% of them were electric. Yet things are changing fast. The world last year saw a 50% annual growth rate in electric vehicle (EV) sales. In 2018, EV sales should near 1.6 million. As EV manufacturing costs fall below those of conventional vehicles, a milestone expected in ...

Source: Energy Shocks – Quartz

Singh says No to Trans Mountain, maybe to running in B.C. byelection

OTTAWA – NDP Leader Jagmeet Singh says he now opposes expanding the Trans Mountain pipeline — but he insists it has nothing to do with the fact a House of Commons seat is opening up in a riding where supporting the pipeline could hurt his chances. With two NDP premiers at odds over the project, [Read More…]

Source: BOE Report

Cheniere Makes FID On Corpus Christi Train 3

Cheniere Energy Inc. announced May 22 that its board of directors has made a positive Final Investment Decision (FID) with respect to Train 3 at Cheniere’s Corpus Christi liquefaction project and plans to issue a full notice to proceed to Bechtel Oil, Gas and Chemicals Inc. to continue construction which began in late 2017 under limited notice to proceed. This ...

Source: Oilandgasinvestor.com Feeds

Solaris Water Midstream Begins Operation Of Pecos Star System

Solaris Water Midstream LLC said May 23 that operations have commenced on Phase One of its flagship Pecos Star System in Eddy and Lea counties, N.M., and Culberson and Loving counties, Texas. The system serves oil and gas producers working in the prolific Delaware Basin by gathering, transporting, recycling and disposing of produced water. Current customers include three ...

Source: Oilandgasinvestor.com Feeds

OPEC May Ease Oil Cuts As Soon As June

As soon as next month, OPEC may decide to reverse some of the production cuts in place since the beginning of 2017, to respond to supply concerns over plummeting Venezuelan production and the potential loss of some of Iran’s oil exports due to the return of U.S. sanctions, sources at OPEC and within the industry told Reuters. OPEC members ...

Source: Oilprice.com

Surviving Post-Traumatic ‘232’ Disorder

Southwestern Energy Corp

Photo Courtesy Southwestern Energy Corporation

Susan Murphy PublisherAs we barrel ahead toward summer in the oil patch there’s an intermittent up-stream of opportunities for various sectors of the supply chain that are in a position to capitalize on them. Be that as it May, suppliers of OCTG have reported suffering a little post-traumatic ‘232’ disorder.

In this regard, the market is ...

Crude, Gasoline Prices Slip On Inventory Build

As crude oil begins to slide back down on talk about a possible easing of the OPEC+ production cuts, the Energy Information Administration added to bearish sentiment by reporting a hefty build in crude oil inventories of 5.8 million barrels for the week ending May 18. The EIA report comes a day after the API’s estimate that inventories had ...

Source: Oilprice.com

Oil Price Has Sector’s Investors Eyeing A Windfall

Investors in the world’s largest oil and gas companies are eyeing a windfall from rising crude prices as the sector heads towards its strongest financial performance in a decade while keeping a tight rein on spending. Companies including Total SA (NYSE: TOT) and BP Plc (NYSE: BP) have already launched share buyback programs, and Royal Dutch Shell Plc (NYSE: RDS....

Source: Oilandgasinvestor.com Feeds