US light, sweet crude oil prices for February delivery dropped to settle under $30/bbl on the New York market Jan. 15, and the Brent contract for March delivery settled at under $29/bbl on the London market. Source: News
Canadian Oil Sands accepts amended offer from Suncor
The board of Canadian Oil Sands Ltd. (COS) has accepted an amended offer from Suncor Energy Inc. for all the outstanding shares of COS and is recommending that shareholders do the same. Source: News
Watching Government: California's gas leak
Could methane leaking from a Southern California Gas Co. storage facility since Oct. 23, 2015, lead to federal gas storage regulations? It’s a fair question as the Sempra Energy subsidiary and seven California agencies try to stop the leak at SoCalGas’s Aviso Canyon Storage Facility near Los Angeles. Source: News
STEO: EIA cuts 2016 crude oil price forecasts
The US Energy Information Administration has sharply cut its crude oil price forecasts through 2016 in its latest Short-Term Energy Outlook for January, which is the first to include a forecast for 2017. The cut is because of the continuing threat of a prolonged oversupply of crude as well as global inventory builds. Source: […]
Utterance vs. experience
In his farewell state-of-the-union speech Jan. 12, US President Barack Obama used the word “oil” four times-two of them ominously for the petroleum industry. Source: News
New years, new cargos
During the final day of a year in which depressed crude oil prices and depressed moods gave US industry professionals plenty of reasons to drown their sorrows, a freshly loaded tanker sloshing around the Port of Corpus Christi, Tex., represented something of a glimmer of hope. Source: News
Activist is correct: Climate change needs attention in debates
Fox Business snubbed wealthy climate activist Tom Steyer in its selection of questions for the Republican presidential debate Jan. 14. Source: News
BHI: US drilling rig count falls to 650, down 14 units
A week after beginning the year with its largest decline in months, the US drilling rig count dropped 14 units to 650 during the week ended Jan. 15, according to data from Baker Hughes Inc. Source: News
NPD urges companies to keep long-term perspective
Despite low oil prices, the director general of the Norwegian Petroleum Directorate is urging companies to keep a long-term perspective. Source: News
Rosneft, BP to restructure German refining JV
Russia’s OJSC Rosneft has entered a deal with BP PLC to dissolve their Ruhr Oel GMBH (ROG) joint venture as part of a plan by the companies to restructure their refining and petrochemical businesses in Germany. Source: News