XOM and Oilpro in Agreement Today. Mr. Gardner of ExxonMobil and Mr. Kent of Oilpro coincindentally in agreement on the future of our business, on the same day. Hmmm … basically you guys are saying that sex is going to remain popular. Got it.
Transocean Winner Readies for Piggy-Back to Turkey. Experts say the Winner was just looking for some PTO when it was towed onto the shores of Scottish Isles. OffshoreEnergyToday gives us the latest on preps for transport to Turkey.
Petrofac Winning in a Down Market. Only been at this a few days but Petrofac seems to be winning, alot. The latest victory is a training contract with Statoil UK.
The Next Shale Boom is in Argentina. The country looks to lift production subsidies by the end of 2017, which will somehow attract an estimated $10 billion in outside investment. Gotta be honest, I just cannot connect the dots here, but Bloomberg thinks this is a big deal.
Alvopetro Comes up Dry. Yesterday it was an ultra-deepwater dry hole offshore Canada. Today, Brazil is the unlucky offshore player. “Deal!” cried the losers.
Oil Prices Feeling More Comfy. Traders push up oil futures as U.S. inventories fall again and refinery activity picks up. Glut be gone, please. Brent at $47+ and WTI at $45+. This ain’t so bad. BP’s current operating cost in the GOM are $7 and Shell’s are about $12. Trust me, they are both making money.
Insolent Russia Refuses to Talk Cuts. Look, being a good cartel member means you cooperate with your fellow conspirators. Sure, OPEC is an organization formed the purpose of collusion against consumers, but let us ignore that fact. The bottom line is that Russia ain’t gonna play ball yet.
Total Cuts Another $2bn for 2017. I love it! The Daily Mail states, “Total raises savings target.” The rest of the industry continues to call it cost-cutting. Seriously though, Total says it can grow their business with newly proposed expenditure arrangement. That’s good.
Maersk Makes Executive Changes Across the Board. Maersk Oil, Drilling, Tankers, and APM Terminals all get new leadership. Kudos to Maersk Oil for placing a woman at the helm. Congrats to Gretchen Watkins as well as the other new execs.
By Land and by Sea. Ethane generally gets to where it’s going by land via pipeline, but Enterprise Products Partners is the first Gulf Coast company to ship it by sea, all the way to Norway. Cool charts abound.
Happy B-Day to David. Today our founder celebrates the 11th anniversary of his 30th birthday. David, you are still a young stallion. Can we talk about a raise later?
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