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BHP has reported its second-half 2018 operations review

11 hours ago DieselGasoil Comments Off on BHP has reported its second-half 2018 operations review
1/21/2019 HOSUTON — Below are the highlights of BHP’s second-half 2018 upstream operations review: Full year unit costs for all major assets are expected to be in line with guidance(2), predominantly reflecting stronger anticipated volumes in the second half of the year. However, unit costs were tracking above full year guidance at the December 2018 Read More

Oil steadies near two-month high as U.S. drilling slows down

12 hours ago DieselGasoil Comments Off on Oil steadies near two-month high as U.S. drilling slows down
By Grant Smith and Robert Tuttle on 1/21/2019 Drilling rig in Bakken shale play. Photo: Marathon. LONDON and CALGARY (Bloomberg) — Oil steadied near a two-month high in New York amid a pullback in U.S. drilling activity, while ongoing U.S.-China trade talks left an uncertain outlook for demand. Futures rose 0.2% Monday after surging 3.3% Read More

PermianChain Technologies has launched blockchain-based OandG trading, investment platform prototype

16 hours ago DieselGasoil Comments Off on PermianChain Technologies has launched blockchain-based OandG trading, investment platform prototype
1/21/2019 VAUGHAN, Ontario — PermianChain Technologies has launched the prototype of its platform for trading potential oil and gas reserves that have yet to be developed. PermianChain’s blockchain-based approach will make it easier to put a value on reserves before they have been produced, enhancing efficiency and improving understanding of a project’s viability. PermianChain has Read More

Trading of LNG derivatives to benefit industry

22 hours ago DieselGasoil Comments Off on Trading of LNG derivatives to benefit industry
By Stephen Stapczynski and Dan Murtaugh on 1/21/2019 SINGAPORE (Bloomberg) — With natural gas demand growing faster than for any other fossil fuel, LNG futures may be finally taking off.  Derivatives represented about 2% of global LNG production at the beginning of 2017 as an array of contracts around the world struggled to gain traction. Read More

Huge backlog could trigger new wave of shale oil

1 day ago DieselGasoil Comments Off on Huge backlog could trigger new wave of shale oil
The number of drilled but uncompleted wells (DUCs) in the US shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow. The backlog of DUCs has continued to swell, Read More

How OPEC is helping U.S. oil reach a tipping point

1 day ago DieselGasoil Comments Off on How OPEC is helping U.S. oil reach a tipping point
By Julian Lee on 1/20/2019 Photo: OPEC building. NEW YORK (Bloomberg Opinion) — The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. Read More

Oil hits 2-month high as China truce signals brighter outlook

4 days ago DieselGasoil Comments Off on Oil hits 2-month high as China truce signals brighter outlook
By Alex Nussbaum on 1/18/2019 Photo: Shanghai. NEW YORK (Bloomberg) — Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy. Futures climbed 3.3% in New York to cap the third straight weekly increase. Bloomberg News reported China proposed Read More

Freedom Oil and Gas has announced new leadership with industry veteran

4 days ago DieselGasoil Comments Off on Freedom Oil and Gas has announced new leadership with industry veteran
1/18/2019 HOUSTON — Freedom Oil & Gas Ltd has announced that effective Jan. 14, 2019, J. Russell Porter will be joining the company as president, CEO, and a member of the board of directors. J. Michael Yeager, Freedom’s chairman of the board, president and CEO will remain as non-executive chairman. Mr. Porter is an experienced Read More

Tellurian's Driftwood LNG gets final environmental nod

4 days ago DieselGasoil Comments Off on Tellurian's Driftwood LNG gets final environmental nod
FILE PHOTO: The logo of Tellurian Inc is seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai (Reuters) – Tellurian Inc’s proposed Driftwood liquefied natural gas (LNG) project in Louisiana took a major step forward on Friday as the U.S. federal energy Read More

IEA sees oil demand growth defying economic slowdown

4 days ago DieselGasoil Comments Off on IEA sees oil demand growth defying economic slowdown
By Grant Smith on 1/18/2019 LONDON (Bloomberg) — Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency.  “We have seen prices fall very significantly since the peak at the beginning of October, and Read More