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Big Oil Urges OPEC: Keep Floor Under Oil Prices

October 30, 2017 Tsvetana Paraskova 0

The oil market and analysts already largely expect OPEC to extend the production cut deal beyond March 2018, which many feel would finally rebalance supply and demand.   OPEC’s new tagline is indeed all about restoring oil market stability and sustained stability in the global oil industry—these, OPEC says, are its main policy drivers. While the organization is said to favor extending the deal throughout 2018, and as its leader Saudi Arabia continues to spray the market with its ‘whatever it takes’ promises, now major…

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The Return Of Deepwater Oil

October 30, 2017 Nick Cunningham 0

In a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in the country after a major policy overhaul allowed private investment. Royal Dutch Shell won half of the blocks that were offered, and Shell was already one of Brazil’s largest foreign investors. After purchasing BG Group for around $50 billion, Shell took a large presence in Brazil. The logic behind Shell’s strategy is that the company argues it can breakeven with…

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3 Potential OPEC Deal Killers

October 30, 2017 Zainab Calcuttawala 0

The Middle East isn’t yet ready to agree on the future of OPEC’s output reduction deal as the bloc’s November 30 summit approaches, during which the cartel is set to decide on the depth and length of the cuts one year from their initial approval. Here are the three key geopolitical issues wreaking havoc on the region’s ability to collectively raise the price of oil. The Trump Administration’s Ongoing Iran Nuclear Deal Drama From the day that Donald Trump declared he would run for president, he made it clear that he…

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Puerto Rico Scraps $300M Power Grid Deal With Whitefish Energy

October 30, 2017 Tsvetana Paraskova 0

The Puerto Rico Electric Power Authority (PREPA) will cancel a US$300-million deal with Montana-based Whitefish Energy for restoring the power after Hurricane Maria hit the island, following criticism over the way the tiny Montana firm obtained the contract. The deal has been criticized by Puerto Rican officials and U.S. federal authorities after details emerged that the terms of the deal had not been obtained through competitive public bidding. Puerto Rico’s Governor, Ricardo Rosselló, asked on Sunday the electricity authority to…

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Iraqi Pipeline Disruption Takes 250,000 Bpd Off The Market

October 30, 2017 Tsvetana Paraskova 0

Crude oil from northern Iraq, including from the Kurdistan region, stopped flowing from the oil pipeline between Kirkuk and the Turkish Mediterranean port of Ceyhan early on Monday local time, Bloomberg reports, citing a port agent. According to a Kurdish shipping source who spoke to Reuters, the flows resumed on Monday after a technical stoppage for several hours that had completely halted the flow of crude. The flow was still reduced to 200,000-220,000 bpd, according to the source. The typical flow of the pipeline is some 600,000 bpd, and it…

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Bahrain Wants Qatar’s GCC Membership Frozen

October 30, 2017 Tsvetana Paraskova 0

In the latest chapter of the ongoing spat between some Arab countries and the world’s leading LNG exporter Qatar, Bahrain’s Foreign Minister Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa has called for freezing Qatar’s membership in the Gulf Cooperation Council (GCC). In a series of messages on Twitter, Al Khalifa said that Bahrain would not attend the next GCC meeting if Qatar is present, and criticized it for refusing to comply with the demands of the Saudi-led coalition that had imposed a blockade on Qatar. Qatar, Bahrain,…

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Bahrain Wants Qatar’s GCC Membership Frozen

October 30, 2017 Tsvetana Paraskova 0

In the latest chapter of the ongoing spat between some Arab countries and the world’s leading LNG exporter Qatar, Bahrain’s Foreign Minister Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa has called for freezing Qatar’s membership in the Gulf Cooperation Council (GCC). In a series of messages on Twitter, Al Khalifa said that Bahrain would not attend the next GCC meeting if Qatar is present, and criticized it for refusing to comply with the demands of the Saudi-led coalition that had imposed a blockade on Qatar. Qatar, Bahrain,…

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U.S. Crude Imports Soar Amid Rising Refinery Output

October 30, 2017 Matt Smith 0

I’ve been on the road – on walkabout as the Australians would say – for the last four weeks, doing a number of speaking engagements and trips across America. As we all know, all paths lead back to energy, hence, on my travels I have seen a bunch of energy infrastructure that I normally just study on a screen. Hark, here are some of those places, and some corresponding insights via our ClipperData.   A couple of weeks ago I was in Philadelphia. On the way from the airport to the southside of the city, you pass by PES’ Philadelphia…

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