Libya Resumes Exports After Two Years.?As anticipated, Libyan oil exports began Tuesday night with 740,000 barrels departing for Italy.?We can’t rely on supply disruptions?to support the price of oil. We can rely upon being the best around (see today’s video below for more information about being the best).
Valero Port Arthur refinery shuts large CDU, coker.?Anything that?reduces gasoline and diesel production?is good for the industry. Thanks Valero. Side note: shut downs are typical this time of year.
Aruba Refinery Revival??– Citgo asks PDVSA for $100 million to revive Aruba refinery. This would be humorous considering the state of Venezuela today but don’t forget Venezuela may, and I?emphasize “may”, have the large oil reserves in the world.
Engie to hang on to LNG but ditch coal, oil.?The demise of coal continues. The French company also ditches oil but due to prices and not because of the awesomeness that is oil. LNG is still considered a darling and will remain in Isabelle Kocher’s (CEO) portfolio.
Nigeria sues over $12b in ‘illegal’ oil exports.?Nigeria is suing several leading oil companies for $12.7 billion of crude oil that allegedly was exported illegally to the United States between 2011 and 2014, officials said on Tuesday.
Russia, Iran Skipping Oil for Goods.?With sanctions lifted the deal making is kicking into?high gear in the Caspian region. The Iranians and Russians grow closer together in the petroleum business. This comes as no surprise as the two countries bounded further in an effort to keep Bashar al-Assad in power.
Union Increases Pressures in North Sea.?Industri Energi (union)?increases pressure with 300 new workers striking. We posted a question looking for your opinion on unions in the oilfield. Weigh in.
Oil Prices Today.?We are all tired of oil price updates but it has to be done. Today traders apply upward pressure mostly because of an API call for a 7.5 million crude drawdown in the US.
Shell Comes Up Dry.?The?Stena IceMAX?determines Nova Scotia work is non-commercial. The ultra-deepwater prospect reminds that ultra-deepwater is still a frontier and we are not always 100% assured of exploratory success. This business is not for the faint of heart.
Need Office Space in Houston??Shell moves out of downtown?to custom complex. Looking to cut costs? Run a business in Houston? There have got to be some good deals. In a lease, re-cut your deal.
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