Tag Archive

Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

September 17, 2019 No Comments

Energy Transfer LP (NYSE: ET) (“ET” or “Energy Transfer”) today announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) (“SemGroup”) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion, based […]

Houthi drone attacks on 2 Saudi Aramco oil facilities

Houthi drone attacks on 2 Saudi Aramco oil facilities

September 15, 2019 No Comments

Incidents at Abqaiq and Khurais Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles. These attacks resulted in production suspension of 5.7 million barrels of crude oil per day. After visiting the incident locations, Amin H. Nasser, Saudi Aramco President & CEO, said: […]

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

September 9, 2019 No Comments

Nigerian National Petroleum Corporation (NNPC) and the Nigerian Navy have pledged to deepen collaboration to tackle the menace of crude oil theft and attacks on oil and gas facilities. The two organisations came to the resolution when the NNPC GMD, Mallam Mele Kyari paid a courtesy visit to the Chief of Naval Staff, Vice Admiral […]

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

September 5, 2019 No Comments

The Nigerian National Petroleum Corporation (NNPC) and the Nigerian Navy have pledged to deepen collaboration to tackle the menace of crude oil theft and attacks on oil and gas facilities. The two organisations came to the resolution when the NNPC GMD, Mallam Mele Kyari paid a courtesy visit to the Chief of Naval Staff, Vice […]

Saudi Aramco signs MoU with China Zhejiang Free Trade Zone

Saudi Aramco signs MoU with China Zhejiang Free Trade Zone

September 5, 2019 No Comments

Saudi Aramco today signed a Memorandum of Understanding (“MoU”) with China’s Zhejiang Free Trade Zone, in which the Zhoushan Government emphasized its support for incentivizing Saudi Aramco’s greater investment in Zhejiang’s future downstream growth. The MoU was signed in conjunction with a visit to Saudi Aramco’s headquarters in Dhahran by Yuan Jiajun, Governor of the […]

CME Group Reaches Second-Highest Monthly Volume Ever

CME Group Reaches Second-Highest Monthly Volume Ever

September 4, 2019 No Comments

 CME Group , the world’s leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 24.3 million contracts during August 2019, up 53% from August 2018 and the second-highest monthly ADV on record. During a month that historically sees lower average daily volumes, August 2019 was the company’s best August ever. Open interest (OI) at the end of […]

U.S. Is Now Largest Oil and Gas Producer In The World

U.S. Is Now Largest Oil and Gas Producer In The World

August 21, 2019 No Comments

Petroleum and natural gas production in the United States jumped by 16 percent and 12 percent, respectively, in 2018, setting new production records and placing the United States as the world’s single largest producer of oil and natural gas, the Energy Information Administration (EIA) said on Tuesday. The U.S. had already surpassed Russia as the world’s biggest […]

NuStar Energy L.P. Receives First Shipment of Long-Haul Permian Crude Oil

NuStar Energy L.P. Receives First Shipment of Long-Haul Permian Crude Oil

August 15, 2019 No Comments

NuStar Energy L.P. (NYSE: NS) announced today that it has received its first shipment of Permian crude at its Corpus Christi North Beach Terminal, and that the terminal will load the first cargo of the long-haul Permian crude onto a ship for export this weekend. The shipment comes on the heels of NuStar’s recent completion […]

Occidental Announces 2nd Quarter 2019 Results

Occidental Announces 2nd Quarter 2019 Results

August 1, 2019 No Comments

Occidental Petroleum Corporation (NYSE:OXY) today announced net and core income for the second quarter of 2019 of $635 million, or $0.84 per diluted share, and $729 million, or $0.97 per diluted share, respectively. Net and core income for the first quarter of 2019 were $631 million, or $0.84 per diluted share. Second quarter pre-tax non-core […]

The Oil Crisis Saudi Arabia Can’t Solve

The Oil Crisis Saudi Arabia Can’t Solve

July 23, 2019 No Comments

Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt.  Looking at the current volatility in the Persian/Arabian Gulf and the possibility of a temporary closure of the Strait of Hormuz, the Aramco CEO’s message might be a bit overoptimistic. In reality, […]

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