Oil Prices Down (Again). Happy election day, U.S. Oilpros! Looks like WTI and Brent are both down today.
Lukoil: No Interest In Rosneft. While sources say Lukoil had been offered a chance to take part in the privatization of Rosneft, Lukoil’s vice president says they’re not going for it.
Winson Oil Wins With Singapore Gasoil. The Hong Kong-based oil trader has purchased 6.3 million barrels for loading in November and 300,000 for December as part of a major buying surge over the last few months.
Norway Heads Into Greater Deficit. Petroleum revenues have been cut in half for Norway compared to last year, coupled with weak economic growth in the latter half of 2016, which means the country is recording a deficit for the second quarter in a row.
BP Extends Contract With Oman. BP is seeking to continue its work producing gas from the Khazan development by the end of 2017, in what has become a big part of Oman’s economy.
Total Aims To Be The First With Iran. The head of French-based Total said discussions are continuing with Iranian officials over a potential $6 billion deal that would make Total the first Western oil company to reach an agreement with the country in its post-sanction era.
T. Boone Pickens A Natural Gas Hopeful? The well-known investor has wanted trucking fleets weaned off of foreign oil, but how right is he in putting so much of his hope in transitioning vehicles to natural gas?
Australia’s Energy Projects Lacking Energy. After earmarking several massive capex LNG projects, the country now faces high construction and labor costs and lack long term agreements for their supplies – what once was supposed to be a big boon for energy is now a $152 million bill with a ton of uncertainty on the return on investment.
Pemex To Bump Up Crude. Mexico’s state oil company says it will ramp up crude processing by the end of the year and, in 2017, will increase its maintenance at refineries to avoid stoppages and falling production that has plagued the company.
Major Investors Say ‘No’ To Arctic Drilling. Two dozen major financial organizations submitted a statement to oil majors and the Arctic Council calling for a moratorium on oil and gas activity in the Arctic high seas.
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