newszine

Canadian energy sector losing patience with the country’s lack of support

4 mins ago DieselGasoil Comments Off on Canadian energy sector losing patience with the country’s lack of support
By Michael Bellusci on 11/16/2018 TORONTO (Bloomberg) — The plunge in global crude prices is being exacerbated in Canada by a lack of pipeline capacity, sending the country’s oil prices to a near record discount to the U.S. and energy stocks reeling.  Gas producers can’t even catch a break: while U.S. gas has surged about Read More

PG&E shares jump as regulator eases bankruptcy fears

34 mins ago DieselGasoil Comments Off on PG&E shares jump as regulator eases bankruptcy fears
Employees of Pacific Gas & Electric (PG&E) work in the aftermath of the Camp Fire in Paradise, California, U.S., November 14, 2018. REUTERS/Terray Sylvester (Reuters) – Shares of embattled utility PG&E Corp (PCG.N) jumped 40 percent on Friday as fears it could be bankrupted by the fallout of California’s deadly wildfires were eased by signs Read More

Heavy Canadian crude falls to record low

1 hour ago DieselGasoil Comments Off on Heavy Canadian crude falls to record low
By Robert Tuttle on 11/16/2018 CALGARY (Bloomberg) — Heavy Western Canadian Select crude fell to a record low as several oil producers shut in production and some demand the Alberta government intervene to mandate across-the-board cuts.  The oil-sands benchmark fell $2.29 to $13.46/bbl Thursday, the lowest in Bloomberg data extending back to 2008. The price Read More

Oil rises, paring sixth weekly loss on expectation of OPEC cuts

1 hour ago DieselGasoil Comments Off on Oil rises, paring sixth weekly loss on expectation of OPEC cuts
By Tsuyoshi Inajima and Grant Smith on 11/16/2018 TOKYO and LONDON (Bloomberg) — Oil rose, paring a sixth weekly loss, amid growing confidence that OPEC and its partners will reduce production to avert a glut next year.  Futures in New York rose 1.8% Friday, trimming the weekly drop to 4.6%. With OPEC seeing waning demand Read More

Goldman CEO 'personally outraged' by Malaysia's 1MDB corruption scandal

19 hours ago DieselGasoil Comments Off on Goldman CEO 'personally outraged' by Malaysia's 1MDB corruption scandal
(Reuters) – Goldman Sachs Group Inc (GS.N) Chief Executive Officer David Solomon has told employees he is “personally outraged” that any of the bank’s officials would take the actions laid out in U.S. government charges of fraud involving Malaysia’s state controlled investment bank, 1MDB. FILE PHOTO: David Solomon, CEO of Goldman Sachs, at the Bloomberg Read More

Energy CEOs despair in Canada as pipeline woes compound misery

22 hours ago DieselGasoil Comments Off on Energy CEOs despair in Canada as pipeline woes compound misery
By Michael Bellusci on 11/15/2018 TORONTO (Bloomberg) — The Canadian oil patch is losing patience with the country’s lack of support for the industry. The plunge in global crude prices is being exacerbated in Canada by a lack of pipeline capacity, sending the country’s oil prices to a near record discount to the U.S. and Read More

Oil and gas diverge as inventories move in different directions

1 day ago DieselGasoil Comments Off on Oil and gas diverge as inventories move in different directions
By Mathew Carr on 11/15/2018 LONDON (Bloomberg) — Crude oil and natural gas prices are moving in opposite directions, with traders in both markets spooked by inventories.  Supplies are looking too plentiful for about six months in the global oil market, while gas storage sites in the U.S. are not as full as usual as Read More

Citi says oil's record plunge is a U.S. phenomenon

1 day ago DieselGasoil Comments Off on Citi says oil's record plunge is a U.S. phenomenon
By Dan Murtaugh on 11/15/2018 SINGAPORE (Bloomberg) — American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market.  The State Department’s zigzag on Iran sanctions, President Donald Trump’s tweets about OPEC supply, the demand-sapping trade war with China and the explosion of shale oil production are all key factors Read More

Putin says $70 crude suits Russia fine

1 day ago DieselGasoil Comments Off on Putin says $70 crude suits Russia fine
By Stepan Kravchenko and Henry Meyer on 11/15/2018 MOSCOW (Bloomberg) — President Vladimir Putin said he discussed the price of oil with U.S. counterpart Donald Trump when they met in Paris briefly on Sunday, adding that Russia is happy with current prices.  Putin was more upbeat on the current market situation than his colleagues in Read More

Natural gas skyrockets as China pledges huge supply boost

1 day ago DieselGasoil Comments Off on Natural gas skyrockets as China pledges huge supply boost
With an eye on last winter’s natural gas supply debacle, Chinese state-owned energy giant CNOOC has pledged a 20 percent rise in gas supply, the company said on Tuesday. The company, one of three state-run oil majors, said that it will supply 24.6 billion cubic meters (bcm) of natural gas during the heating season that Read More