Industry Trends ///

Texas Railroad Commissioner Ryan Sitton discusses innovative disruption in energy

Railroad Commissioner Ryan Sitton met with 100 senior level oil and gas executives in Houston yesterday for "An Energy Evening" hosted by KCA, a business consultancy serving energy, technology and legal clients.

OPEC fails to ease global oil glut, but gets more cash anyway

At first glance, OPEC’s cuts haven’t worked -- global oil inventories remain well above normal levels. But the policy’s made a difference where it really counts: juicing the coffers of finance ministries from Baghdad to Caracas.

Iraq mulls largest sovereign oil-hedging deal, topping Mexico

Iraq is mulling an oil hedging program to lock in prices for future crude sales, potentially topping a similar deal run by Mexico that is considered the largest energy trade in Wall Street.

Trump's bid to sell U.S. reserve oil could undermine OPEC cuts

President Donald Trump has proposed selling off more than half of the U.S. emergency oil stockpile, potentially putting more crude on the global market and undermining OPEC’s efforts to prop up prices.

Billionaire Ratcliffe hunts oil to repeat chemicals empire

Billionaire Jim Ratcliffe is seeking to replicate in oil what he did two decades ago to make Ineos AG into one of the world’s five biggest chemicals producers.

Subsea Systems Institute launches digital upstream project

The Subsea Systems Institute (SSI) announces that, in partnership with Endeavor Management and World Oil, it will sponsor an industry-based initiative focused on adapting the broad area of digitalization to the upstream oil and gas industry.

NorSea Group and Kongsberg Group establish digital collaboration

NSG Digital, a new company set up by NorSea Group to simplify logistics through digital technology, has established a collaborative agreement with the Kongsberg Group.

DONG Energy divests upstream business to INEOS

DONG Energy has today agreed to divest the entire share capital of DONG E&P A/S to INEOS for an unconditional payment of DKK 7.0 billion on a cash and debt free basis, a contingent payment of $150 million (DKK 1.0 billion) related to the Fredericia stabilization plant and a contingent payment of up to $100 million (DKK 0.7 billion) subject to the development of Rosebank field.

Canadian recovery made difficult, as oil patch strains for hands

After years of being a magnet for job seekers, Canada’s oil patch is turning into a bit of a no-go place -- and that’s making a recovery harder.

Seadrill stock jumps 26% as debt talks progress

Seadrill stock jumped 26% as the offshore driller said it’s getting closer to a solution to restructure the industry’s heaviest debt load.

Trump proposes selling off half the U.S. strategic oil reserve

The White House plan to trim the national debt includes selling off half of the nation’s emergency oil stockpile, part of a broad series of changes proposed by President Donald Trump to the federal government’s role in energy markets.

Oil trades near one-month high as OPEC poised to extend cuts

Oil was little changed near a one-month high as traders weighed the prospect of OPEC prolonging production cuts.

Equatorial Guinea partners with Arabian Energy to build Bioko Oil Terminal

Following the signing of an agreement between the Government of Equatorial Guinea and Arabian Energy to work together on the Bioko Oil Terminal, the realization of the petroleum tank farm gained important momentum.

Oil rises to one-month high as Saudis see output curbs into 2018

Oil rose to the highest in a month as Saudi Arabia said all producers participating in output cuts agree on extending the deal through the first quarter of 2018.

China's love for U.S. gas begins as Trump rolls out red carpet

Let the gushing begin. After an executive from U.S. liquefied natural gas exporter Cheniere Energy Inc. spoke to a few hundred people at a conference in Beijing last week, the first question from the audience turned out to be an invitation to visit one of China’s biggest energy firms and a main LNG buyer, the state-owned giant known as Sinopec.

Rouhani win seen speeding Iran's oil push amid Trump threats

Iranian President Hassan Rouhani is in a stronger position after his re-election to push through plans for wooing foreign investors the country needs to boost oil production, according to analysts at Cornerstone Global Associates and SVB Energy.

OPEC keeps focus on shale threat as officials meet in Vienna

OPEC officials gathering in Vienna on Friday to prepare for next week’s ministerial meeting kept their focus on rising U.S. shale oil production, which has been diluting the price impact of their production cuts.

Saudis greet Trump with deals worth billions of dollars

Saudi Arabia welcomed U.S. President Donald Trump with agreements for deals worth tens of billions of dollars on Saturday, as he embarked on his first state visit to the kingdom, which is undertaking unprecedented economic reforms.

McDermott and Saudi Aramco announce MOU as part of IKTVA initiative

McDermott International, Inc., signed another memorandum of understanding (MOU) with Saudi Aramco to expand and develop the company’s physical and human capital within Saudi Arabia as part of Aramco’s In-Kingdom Total Value Add (IKTVA) initiative.

Schlumberger signs MOU with Saudi Aramco

Schlumberger has signed a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, in alignment with the Kingdom’s economic vision for 2030.