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The Downside For Oil Is Limited

The Downside For Oil Is Limited

September 11, 2018 No Comments

More than two weeks of nearly uninterrupted price gains for crude oil ended this week, with the rally running out of steam. The question is what happens next? Oil prices posted steep losses just as the bulls were back on the march. WTI briefly topped $70 per barrel in recent days and Brent was flirting […]

ENERGY NEWSTRACK TO 06/09/18:

ENERGY NEWSTRACK TO 06/09/18:

September 6, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $75.18 a barrel on Wednesday, 5 September 2018, compared with $76.32 the previous day, according to OPEC Secretariat calculation. Includes: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait […]

JV Partners to Construct,”Permian Gulf Coast” or “PGC” Pipeline

JV Partners to Construct,”Permian Gulf Coast” or “PGC” Pipeline

September 4, 2018 No Comments

Energy Transfer Partners, L.P. (NYSE: ETP) (“Energy Transfer”), Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”), MPLX LP (NYSE: MPLX) (“MPLX”) and Delek US Holdings, Inc. (NYSE: DK) (“Delek”) announced today that they have received sufficient commitments to proceed with plans to construct a new 30-inch diameter common carrier pipeline to transport crude oil from the […]

PDVSA Looks To Reroute Tankers To Alternate Port

PDVSA Looks To Reroute Tankers To Alternate Port

September 3, 2018 No Comments

PDVSA is looking to shift its oil exports to an alternate port, Reuters sources said on Friday, after Venezuela was forced to close Port Jose last weekend after a minor accident. Shipments that were supposed to leave from Port Jose will now be sent from Puerto La Cruz, if all goes to the stated plan, […]

ENERGY NEWSTRACK TO 31/08/18:

ENERGY NEWSTRACK TO 31/08/18:

August 31, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $75.72 a barrel on Thursday, 30 August 2018, compared with $74.48 the previous day, according to OPEC Secretariat calculations. Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

Africa Oil 2018 Second Quarter Financial and Operating Results

Africa Oil 2018 Second Quarter Financial and Operating Results

August 15, 2018 No Comments

Africa Oil Corp. (“Africa Oil” or the “Company”) announced its financial and operating results for the three and six months ended June 30, 2018. As at June 30, 2018, the Company had cash of $369.6 million and working capital of $380.2 million as compared to cash of $392.3 million and working capital of $436.3 million […]

DEA joints UN Global Compact

DEA joints UN Global Compact

August 10, 2018 No Comments

DEA Deutsche Erdoel AG has joined the UN Global Compact – the world’s biggest and most important initiative for responsible corporate governance. The signers rely for guidance on ten universal principles in respect to human rights, labour standards, environment and anti-corruption. By officially joining this alliance, DEA underscores its commitment and participation in making globalisation […]

ENERGY NEWS HIGHLIGHTS WEEK of  08/08/18

ENERGY NEWS HIGHLIGHTS WEEK of 08/08/18

August 8, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $72.27 a barrel on Monday, 6 August 2018, compared with $72.07 the previous Friday, according to OPEC Secretariat calculations. The price of OPEC basket of fifteen crudes stood at $72.58 a barrel on Tuesday, 7 August 2018, according to OPEC Secretariat calculations. ———————————————————————————————————– China’s Oil […]

Crude Oil Inventory Build Sends Prices Lower

Crude Oil Inventory Build Sends Prices Lower

August 1, 2018 No Comments

The American Petroleum Institute (API) reported a crude oil inventory build of 5.59 million barrels of United States crude oil inventories for the week ending July 28, compared to analyst expectations that this week would see a draw in crude oil inventories of 2.794 million barrels. Last week, the American Petroleum Institute (API) reported a […]

Strong Dollar Could Cap Oil Prices

Strong Dollar Could Cap Oil Prices

July 27, 2018 No Comments

The strength of the U.S. dollar poses an obstacle to further gains in oil prices. President Trump’s trade war with China, which is still in its early stages, has already battered the yuan. The dollar has gained more than 8 percent against the Chinese currency since March. As Reuters points out, in dollar terms the […]

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