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From the multi-year slump of $1.611/MMBtu hit on 04 March 2016, to the highs of $3.902/MMBtu reached on December 28, 2016, natural gas prices have come a long way. Natural gas is 2016’s best performer among major commodities. However, the big question is – Will the rally continue and what should be the strategy of […]
Mexico is bracing for a series of protests as the opposition threatens a “peaceful revolution,” after the government of President Enrique Pena Nieto announced plans to raise gasoline prices by the most in two decades. Gasoline will soar as much as 20 percent in January as the nation moves away from subsidies that have burnt […]
Houston based Shell Midstream Partners has acquired minority stakes in three pipelines located in The Gulf of Mexico from BP for an undisclosed sum. The acquisition is said to be a move to consolidate its corridor pipeline strategy in the region for Shell Midstream. The company has acquired 10% stake in the Proteus Oil Pipeline […]
Global spending on oil and gas exploration in 2017 could fall below this year’s $40 billion, but lower costs mean profitability will increase, consultancy Wood Mackenzie said in a report on Friday. Faced with a 30-month-long oil price downturn, oil companies including Exxon Mobil and Royal Dutch Shell have slashed spending budgets in recent years, […]
U.S. President-elect Donald Trump will pick U.S. Representative Cathy McMorris Rodgers, a climate-change skeptic and an advocate for expanded oil and gas development, to run the Interior Department, a Trump aide said on Friday. The appointment could mean easier access for industry to more than a quarter of America’s territory, ranging from national parks to […]
For the three titans of Latin American oil — Pemex, PDVSA and Petrobras — last week’s OPEC-driven price rally won’t be enough to halt a slow descent from the ranks of international crude heavyweights. Even as news of the cartel’s 1.2 million-barrel-a-day output cut spurred the steepest three-day oil gain in 15 months, the biggest […]
The U.S. Army Corps of Engineers denied Energy Transfer Partners LP a permit to build a section of the $3.8 billion Dakota Access Pipeline in North Dakota after weeks of opposition from Native Americans, environmentalists and other groups. “There’s more work to do” in exploring alternative routes, Jo-Ellen Darcy, the corps’ assistant secretary for civil […]
Oil advanced as Iraq said it pledged to cooperate with OPEC to reach an agreement this week that’s acceptable to all members. Futures rose as much as 2.7 percent in New York after earlier declining. Iraq’s Oil Minister Jabbar al-Luaibi said Monday he’s “optimistic” a deal will be reached at OPEC’s summit in Vienna on […]
Activist shareholders plan a record number of resolutions focused on climate change at U.S. company annual meetings in 2017, even as President-elect Donald Trump looks set to loosen environmental regulations. Based on filings so far, U.S. companies are on track to face roughly 200 resolutions on climate matters at their shareholder meetings next year, according […]
Money managers, producers and consumers made the biggest bets on West Texas Intermediate crude prices in nine years, amid signals more volatility is coming. Global markets were roiled after Donald Trump’s election as U.S. president and as OPEC continued negotiations on a deal to cap output. The U.S. dollar climbed to the highest since January. […]
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