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Explorers face pain as oilfield costs jump: Wood Mackenzie

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By David Wethe on 12/14/2018 HOUSTON (Bloomberg) — Shale explorers are in for higher equipment and service costs in 2019 after getting hit with double-digit inflation this year, according to Wood Mackenzie Ltd.  The rate of well-cost increases — which includes everything from cement to drilling rigs — is expected to average 9% across the Read More

IEA says OPEC's unplanned supply losses could double its cut

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By Grant Smith on 12/14/2018 LONDON (Bloomberg) — OPEC may be about to succeed by accident, again.  Unplanned supply losses from members Iran and Venezuela could effectively double the intended cutback of 800,000 bpd the cartel pledged last week, according to the International Energy Agency. There’s a precedent for this: It was the Latin American Read More

Deutsche Telekom reviews Huawei ties; Orange says no on 5G

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FRANKFURT/PARIS (Reuters) – Huawei faces fresh challenges in Europe after Germany’s Deutsche Telekom (DTEGn.DE) announced it would review its vendor strategy and Orange (ORAN.PA) said it would not hire the Chinese firm to build its next-generation network in France. FILE PHOTO: The logo of German telecommunications giant Deutsche Telekom AG is seen at the Read More

New problems for embattled Huawei in France and Germany

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FRANKFURT/PARIS (Reuters) – Huawei faces fresh challenges in Europe after France’s Orange (ORAN.PA) said it would not hire the Chinese firm to build its next-generation network and Germany’s Deutsche Telekom (DTEGn.DE) announced it would review its vendor strategy. People walk past a Huawei shop in Beijing, China, December 11, 2018. REUTERS/Thomas Peter The shift Read More

Coming changes in marine fuel sulfur limits will affect global oil markets

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December 14, 2018 For the next two weeks (December 17–December 31), Today in Energy will feature a selection of our favorite articles from 2018. New articles will resume on January 2, 2019. International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operators, refiners, and Read More

Orca Exploration Updates on the Swala Transaction

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TORTOLA, British Virgin Islands, Dec. 14, 2018 (GLOBE NEWSWIRE) — Orca Exploration Group Inc. (“Orca” or the “Company”) acknowledges the press release issued by Swala Oil & Gas (Tanzania) plc (“Swala”) announcing that it has entered into a definitive agreement for an initial investment of US$30 million from Energy Tanzania Limited (“ETL”) the proceeds of Read More

Weak economic data send world stocks tumbling

1 day ago DieselGasoil Comments Off on Weak economic data send world stocks tumbling
LONDON (Reuters) – Stocks worldwide tumbled on Friday after weak economic data from China and Europe fanned concerns of a global economic slowdown and left investors fretting over the wider impact of a still-unresolved Sino-U.S. trade dispute. FILE PHOTO: Men look at stock quotation boards outside a brokerage in Tokyo, Japan, December 5, 2018. REUTERS/Issei Read More

Asian shares jolted by weak Chinese data, growth risks

2 days ago DieselGasoil Comments Off on Asian shares jolted by weak Chinese data, growth risks
TOKYO (Reuters) – Asian shares tumbled on Friday after China reported a set of weak data, fanning fresh worries of a sharp slowdown in the world’s second-biggest economy and leaving investors fretting over the wider impact of a yet unresolved Sino-U.S. trade dispute. FILE PHOTO: Men look at stock quotation boards outside a brokerage in Read More