News Oil 

Three trends could trip up oil and gas pipeline companies. Here’s how to trade them

“While there is demand for new infrastructure, three trends in the industry could trip up pipeline companies, Bain said in a report released Wednesday” writes Brad Quick for cnbc.com. Oil and gas drilling is subdued in some areas, contract renewals may lead to lower rates, and private equity competition is eating into profit margins.This matters to investors because investing in midstream companies became a source of reliable dividends as pipeline construction ramped up during the U.S. shale oil and gas boom.This will make it harder for so-called midstream companies, which…

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News Oil 

This is what energy majors like Chevron are looking for in their next leaders

“Oil companies have sold assets, laid off workers, and cut down on expenses and capital plans amid persistently low crude-oil prices” writes Claudia Assis for marketwatch.com. A change of guard at Chevron would be a highly orchestrated, leave-no-room-for-mishaps event, but some saw a trend in the way major oil companies’ boards are looking for the next leaders: those experienced with penny-pinching.Just don’t expect any deep transformations in the way Chevron would go about its business, said Pavel Molchanov, an analyst with Raymond James. Source: marketwatch.com Share This:

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EIA data show U.S. crude supplies down for the eighth straight week

“Data from the U.S. Energy Information Administration Wednesday showed that domestic crude supplies fell by 3.3 million barrels for the week ended Aug. 18, following declines in each of the last seven weeks” writes Markets Commodities Reporter for marketwatch.com. Gasoline stockpiles were down 1.2 million barrels for the week, while distillate stockpiles remained unchanged, according to the EIA. Prices for West Texas Intermediate crude edged up from their pre-supply data levels.October crude CLV7, +0.98% was up 18 cents, or 0.4%, at $48.01 a barrel on the New York Mercantile Exchange. Source:…

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News Oil Reviews 

Oil Daily Review August 23, 2017

Oil Daily Review for August 23, 2017 Oil settles higher as analysts forecast a weekly decline in U.S. crude supplies Oil prices settled higher Tuesday, getting a lift from expectations that U.S. government data set for release Wednesday will show an eighth weekly dec   WTI Crude Oil and Natural Gas Forecast August 23, 2017 The WTI Crude Oil market had a volatile session on Tuesday, as we continue to bang around the $40 level. With the Crude Oil Inventories announcement coming o…   Uber’s turmoil has reportedly taken a…

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News Oil 

Enquest hit by delays at North Sea oil project

“North Sea oil company Enquest has taken a 10pc blow to its market value after telling investors that delays to a cornerstone project have cut into to its production for this year” writes Jeremy Warner for telegraph.co.uk. In addition lower global oil prices could wipe a further 10pc from the project’s revenues.Over the first half of this year Enquest’s production averaged just over 37,000 barrels of oil a day, down from 42,500 barrels a day in the same months last year.The heavily indebted independent was relying on oil flows from…

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News Oil 

Ecoterrorists target oil infrastructure, endanger the public

“The pair admitted to researching the best way to puncture an oil pipeline, then carrying out a series of arson and blowtorch attacks on the Dakota Access Pipeline and heavy construction equipment in Iowa and South Dakota” writes James Marks for washingtonexaminer.com. In at least one attempt, they admitted trying to use a blowtorch to cut through the pipe when it was filled with oil.If Islamist terrorists had sabotaged a U.S. oil pipeline, held a press conference to claim credit for their crime, then punctuated their declaration by defacing government…

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Democrat: Trump wants to turn national monuments into ‘industry playthings’

“In fact, oil companies are not bothering to produce oil and gas on the public land they have already leased,” it continued” writes John Siciliano for washingtonexaminer.com. A top Democrat on Tuesday stepped up criticism of the Trump administration’s review of 27 national monuments by releasing a report charging that the process is being guided by the oil and coal industries instead of public interest. Source: washingtonexaminer.com Share This:

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Markets News Oil 

Two October surprises could boost oil prices above $50

“Oil prices will remain stuck in a range near $50 a barrel unless one of two global hotspots delivers an October surprise to the market, jolting the cost of crude higher, according to Helima Croft, global head of commodity strategy at RBC Capital Markets” writes Tom Dichristopher for cnbc.com. The first potential shock Croft and her team at RBC are monitoring is a debt default by Venezuelan oil giant Petroleos de Venezuela SA. Oil production from the state-owned PDVSA has steadily slipped as the country grapples with a financial crisis…

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Oil Major Total’s Shares Rise As Analysts Welcome Maersk Oil Deal

“PARIS (Reuters) – Shares in Total (TOTF.PA) rose on Tuesday on the back of upbeat analyst comments regarding the French oil major’s $7.45 billion takeover of Maersk Oil (MAERSKb.CO)” writes Min Read for reuters.com. It’s not too expensive,” said Valahu, whose firm owns some Total shares.Ion-Marc Valahu, a fund manager at Geneva-based firm Clairinvest said he thought the price paid for Maersk Oil was a reasonable one for Total.Deutsche Bank analysts also gave a positive reception to the Maersk Oil takeover, nudging up their price target on Total to 51…

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News Oil 

BHP to Quit U.S. Shale Business as Annual Profit Surges

“At the bottom line, BHP swung to an attributable profit of $5.89 billion from a record loss of $6.39 billion a year ago” writes James Regan for reuters.com. BHP Chairman Jac Nasser, who retires this year, has conceded the $20 billion investment in shale six years ago was a mistake.Facing calls from some shareholders to dispose of the shale business it acquired at the height of the oil boom, the miner said it was “actively pursuing options to exit.”. BHP joined other miners who have boosted payouts in the current…

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