Oil & Gas Industry News

Welcome to the Energy News Page. Here you can find links to the latest news from reputable sources in the oil and gas industry.


Pertamina lets contract for Balikpapan refinery revamp

Oil & Gas Journal
Thu, 13 Dec 2018 17:51:00 GMT

PT Pertamina has let a contract to PT Pupuk Indonesia subsidiary PT Rekayasa Industri (Rekind) to provide services related to inside and outside battery limits (ISBL, OSBL) projects as part of Pertamina’s previously announced Balikpapan Refining Development Master Plan (RDMP) project to upgrade and modernize its 260,000-b/d refinery in Balikpapan, East Kalimantan, Indonesia.

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Oil flow increases at Iraq’s Halfaya field

Oil & Gas Journal
Thu, 13 Dec 2018 16:38:00 GMT

Oil production at Halfaya field in southern Iran increased to 370,000 b/d after start-up of a new processing facility, an official of Maysan province told Reuters. The field, operated by PetroChina, had been producing 270,000 b/d.

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MARKET WATCH: NYMEX crude oil drops on OPEC unity concerns

Oil & Gas Journal
Thu, 13 Dec 2018 16:32:00 GMT

Light, sweet crude oil for the January contract dropped modestly to approach $51/bbl, settling at $51.15/bbl on the New York market Dec. 12 on concerns about the Organization of Petroleum Exporting Countries’ ability to make the production cut that it announced last week.

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AltaGas shares soar after it cuts dividend, announces new round of asset sales

Calgary Herald
Thu, 13 Dec 2018 14:22:30 +0000
Shares in AltaGas Ltd. soared on Thursday morning after it announced it will slash its dividend by 56 per cent and sell its remaining majority stake in a B.C. hydroelectric power operation for $1.39 billion. On his first conference call days after officially taking over as CEO, Randy Crawford said he wants AltaGas to adopt […]
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AltaGas slashes dividend, selling stake in B.C. hydro projects for $1.4 billion

Financial Post
Thu, 13 Dec 2018 13:57:11 +0000
Company has targeted an additional $1.5 billion to $2 billion in asset sales next year
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Needed oil-output limits defy Trump’s misguided harangues

Oil & Gas Journal
Thu, 13 Dec 2018 13:33:00 GMT

Parties to the Dec. 7 agreement limiting oil production had to take seriously messages coming from the US—but not tweets from the White House.

 

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Whistler wants to bill Alberta oil and gas company for climate change expenses

Calgary Herald
Thu, 13 Dec 2018 02:23:54 +0000
Mayor Jack Crompton is asking Calgary-based CNRL to pay in to "the costs of climate change being experienced by Whistler," such as wildfire protection
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Crude Oil Up Two-plus Percent

Rigzone
Thu, 13 Dec 2018 00:00:00 GMT
WTI crude oil rose by nearly 3% while the Brent contract price edged upward by more than 2%.
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OPEC's Unplanned Supply Losses Could Double Its Cut

Rigzone
Thu, 13 Dec 2018 00:00:00 GMT
Unplanned supply losses from Iran and Venezuela could effectively double the intended cutback of 800,000 barrels a day.
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Market Could be Oversupplied by 2020

Rigzone
Thu, 13 Dec 2018 00:00:00 GMT
The market could be quite tight in the first half of 2019 but oversupplied again by 2020.
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