News Oil 

Rick Perry taps Texas oil chief and nuclear submariner as top advisers

“The company produces half of its oil in the Permian Basin in Texas and New Mexico, a region of the country that has helped make the U.S. the largest oil producer in the world” reports washingtonexaminer.com. Energy Secretary Rick Perry on Wednesday picked the CEO of one of the largest oil companies operating in his home state of Texas to lead a special advisory committee meant to provide energy advice for him.Producing and exporting more oil and natural gas worldwide is a key part of Trump’s energy dominance agenda, which…

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Markets News Oil 

Parliament allows oil ministry to issue up to $3b of Sukuk

“TEHRAN- According to the latest ratification of the parliament, Iranian oil ministry is permitted to issue up to $3 billion of sharia compliant bonds, known as Sukuk, Shana reported on Wednesday” reports tehrantimes.com. Once being approved by the Iranian cabinet, the oil ministry can issue rial-dominated or foreign exchange-reliant Sukuk via the Iranian state-run companies.The parliament’s ratification also allows Iranian industry ministry and energy ministry to issue Islamic bonds up to $3 billion, as well. Sukuk were developed as an alternative to conventional bonds which are not considered permissible by…

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News Oil Stocks 

Buffett’s Suncor bet to revive investor interest in Canadian energy

“Some investors are betting that a change in government in Alberta after a spring election could benefit the oil industry” reports businessinsider.com. FILE PHOTO: A Suncor refinery is seen in Sherwood Park Thomson Reuters By John Tilak and Fergal Smith TORONTO (Reuters) – Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.While a bet on Suncor is not seen as a play on the entire industry, major Berkshire…

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News Oil 

Vanguard just lured a BCG partner as its head of strategy, and it highlights one of the hottest new hiring areas at trillion-dollar asset managers

“Vanguard just tapped a partner at a powerhouse consulting firm to head up strategy for the asset management firm” writes Meghan Morris for businessinsider.com. Vanguard in January tapped consulting firm BCG’s former head of asset and wealth management as its new chief strategy officer.The asset management industry is facing increased pressures, as volatile markets pushed billions of capital out in the last few months and demand for lower fees continued to eat into revenue.”We see increasing interest in building out or strengthening strategy teams, starting with a head of strategy…

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News Oil Reviews 

Oil Daily Review February 20, 2019

Oil Daily Review for February 20, 2019 In a doji formation, oil prices are back under pressure below the rising bearish wedge’s support line; Will bulls commit? WTI has formed a doji on the daily charts which is a sign of a potential reversal. The fundamentals at play have been Sino/US trade talks which had be   EIA forecasts U.S. shale oil output to climb by 84,000 barrels a day in March Crude-oil production from seven major U.S. shale plays is forecast to climb by 84,000 barrels a day in…

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News Oil 

Repsol, Petronas and Mitsui make biggest gas discovery in Indonesia in 18 years

“Before this find, Repsol had global gas reserves equivalent to around 1.7 billion barrels of oil” reports businessinsider.my. A consortium led by Repsol has found new gas resources in Indonesia estimated at least 2 trillion cubic feet, the Spanish oil and gas firm said on Tuesday, equivalent to around two years’ worth of Spanish demand.The find would translate into more than 350 million barrels of oil equivalent. Source: businessinsider.my

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News Oil Reviews 

Oil Daily Review February 19, 2019

Oil Daily Review for February 19, 2019 Oil Technical Analysis: Wedge pattern halts bullish advance near $56.80 a barrel Oil daily chart Crude oil WTI is trading between the 50 and 100 SMA suggesting a sideways market. Oil 4-hour chart Crude oil is trading abov   EUR/GBP: A mixed pabg of political turmoil and horrible eurozone data, bull’s commitments tested The Brexit fatigue remains a risk for the pound which has taken some short term relief in the dollar’s fallout within its late Jan recovery from 95.20   WTI Crude…

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News Oil 

U.S. oil climbs on tightening supplies; Brent oil edges lower

“Crude-oil futures on Tuesday saw mixed trade, with international benchmark Brent crude edging lower, while the U.S. benchmark rose amid reports of falling Saudi Arabian exports” writes Sarah Mcfarlane for marketwatch.com. The data confirmed comments from the Kingdom’s oil minister who said earlier this month that the country would further cut output.Trade talks between the U.S. and China were also being watched for further signs that could boost crude prices.West Texas Intermediate crude oil CLH9, +0.94%  gained 49 cents, or 0.9%, at $56.49 a barrel, while April Brent LCOJ9, -0.24%…

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News Oil 

Oil Search profit lifted by higher prices

“The average price Oil Search received for its LNG and has was 31% higher than in 2017, while the average oil and condensate price was 27% higher” writes Robb M for marketwatch.com. Additionally, Oil Search has sought to reduce its reliance on Papua New Guinea and gas exports, buying into oil fields it is developing in Alaska’s North Slope.Offsetting the hit to production, stronger liquefied natural gas and oil prices helped lift revenue for the year 6.2% to US$1.54 billion.The company operates all of Papua New Guinea’s oil fields and…

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News Oil 

New problem for legal weed: Exploding factories…

“In Arizona last year, a fire at a legal medical marijuana facility erupted after a worker improperly stored a can of butane, causing an explosion” writes Rebecca Rainey for politico.com. In 2018 there were an estimated $10.4 billion in U.S. sales of legal medical and recreational marijuana.In 2016, two workers were sent to a burn unit after an explosion at a medical marijuana processor in Oregon.Safety at legal marijuana facilities remains mostly a state matter because the federal government hasn’t legalized consumption.Worker safety is a matter of growing urgency because…

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