Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week. Brent crude for January rose 19 cents, or 0.4%, to $47.99 a barrel by 1443 GMT and the more active February contract gained 25 cents to $48.04. West Texas Intermediate,
Read More...U.S. natural gas futures fell 3% on Nov. 27, weighed down by forecasts for warmer-than-usual weather and a steady rise in production. Front-month gas futures for January delivery slipped 8.8 cents, or 3%, at $2.873 per million British thermal units (Btu) by 10:07 a.m. EST (1507 GMT). However, the contract is up nearly 9% so
Read More...New data analytics platform offers subsurface data insights Katalyst Data Management has released its Katalyst 360 data analytics platform, which provides a 360-degree view of how subsurface data assets are being utilized within an organization. Katalyst 360 greatly expands the utility of Katalyst’s data management solutions, giving oil and gas companies the ability to gain
Read More...In late February, the Pioneer Natural Resources Co. team wrapped the year-end earnings call and was filing the 10-K while readying to refinance senior notes due 2021 and 2022. In January, it had paid off its $450 million of 7.5% senior notes due this year, using cash on hand. It had an undrawn $1.5 billion
Read More...... … … [Editor’s Note: China let its virus loose upon the world and is now using it to build energy reserves, while pretending to be a renewables leader.] China is considered a developing country for purposes of the Paris Accord and certain trade treatments, despite it being the second largest economy in the world.
Read More...Norway’s risk management and quality assurance firm DNV GL has suspended work on the Nord Stream 2 gas pipeline project led by Russia’s Gazprom for fear of being sanctioned by the United States, it said on Nov. 26. Nord Stream 2 runs alongside the existing Nord Stream pipeline in the Baltic Sea and is designed
Read More...Oil slipped from seven-month highs on Nov. 26 as signs of growing supplies helped to halt a rally driven by optimism that COVID-19 vaccines will revive fuel demand. Brent futures had risen to nearly $50 a barrel this week after three major pharmaceutical companies announced progress on vaccines that could start to be rolled out
Read More...BP and Delek Group-owned Ithaca Energy have started oil and gas production at the Vorlich field in Britain’s central North Sea, the companies said on Thursday. The project is expected to produce 20,000 barrels of oil equivalent per day (boe/d) at its peak and has resources of 30 million barrels of oil equivalent. BP holds
Read More...U.S. energy firms added oil and natural gas rigs this week, boosting the oil count for the fourth month in a row as producers return to the wellpad with crude prices mostly trading over $40 a barrel since mid June. The oil and gas rig count, an early indicator of future output, rose 10 to
Read More...1. Alaska bp recompleted a Prudhoe Bay Field well in Alaska that was originally drilled in 2014 at the #06-22B Prudhoe Bay Unit. The well is in Section 2-10n-14e in Umiat Meridian. It was tested flowing 288 bbl of oil, 27.513 MMcf of gas and 1,051 bbl of water per day with a flowing tubing
Read More...The maker of one of the exterior composite boards used on a London high-rise apartment building that burned in 2017, killing 79 people, has been accused of committing “a fraud on the market.” An official inquiry into the Grenfell Tower fire also claimed that Celotex, a building products division of Cie. de Saint-Gobain, made misleading
Read More...Chris DentonAttorney, Elmira, New York … … Attorney Chris Denton offers up a terrific question as to what will happen as a result of Andrew Cuomo’s royal edict cancelling Thanksgiving.” New York Governor Andrew Cuomo, acting more like a monarch than a governor, has “cancelled” large Thanksgiving gatherings by decree (Executive Order N. 202.74) effective
Read More...Belmont Engineered Plastics purchased Cedar Springs, Mich.-based Display Pack Inc.’s In-Mold division, which produces decorative appliqués and thermoformed pack trays, effective Nov. 4. Belmont, Mich.-based BEP will continue to support the division’s current customers operating out of its current location and will retain its employees, a Nov. 23 news release said. “We are excited to
Read More...Australia-based Strike Energy Ltd. said Nov. 25 that APA Group will build a natural pipeline to connect Strike’s assets in the Perth Basin to the energy-constrained Goldfields region of Western Australia. The 12-inch, 580-km pipe will expand Strike’s share of the region’s gas market to 80% from its existing 70%. “APA’s pipeline announcement is
Read More...North American prices for polypropylene and solid polystyrene resins both have increased since Nov. 1. Regional PP prices moved up 5 cents per pound, as producers gained 3 cents of margin improvement on top of a 2-cent increase in prices for polymer-grade propylene (PGP) feedstock, according to market sources contacted by Plastics News. The November
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