Oil and Equities Gain Big. But don’t get too giddy. Yesterday’s gains in the stock market shall head south today, says Nostradamus. Oil slipping today due to OPEC deal doubts. Edward Williams, don’t even say it.
Don’t Count Petrobras Out. While CAPEX cuts are coming, there is still plenty of work. Things are looking better for Brazil with six new platforms and, as of today, two new FPU tenders. Don’t forget the Libra and Sepia projects need vendors as well. Chin up boys and girls, we ain’t dead yet.
Bombs Rain Down on Syria. This is relevant. I promise. Yesterday I reported that ISIL has been booted from Iraqi oilfields. Today, ISIL’s homeland of Syria is getting slammed but this time Russia is in command. Beware, this article is full of opinion and facts. Don’t click if you are faint of heart.
Will U.S. Shale Output Rise on Oil Uptick? If oil rises above $50, Platts and Oppenheimer believe US operators will begin to spend again. Interestingly, my colleague here in the Oilpro Pit has seen an uptick in fracking jobs.
Onshore Middle East … You Are Looking Good. While danger abounds, there is money to be made in MENA. The offshore market will continue to be flogged over the coming years but onshore is a different story.
Petronas To Exit $27B Canadian LNG Project. There is one Oilpro that is never short on insight into the Malaysian market — Tom Kirkman. Malaysian state oil firm Petroliam Nasional Bhd is considering selling its majority stake in a $27 billion Canadian liquefied natural gas (LNG) plant, three people familiar with the matter said this week.
Another Brexit: Premier Oil Departs North Sea. We are seeing some real trends in these news reports. Everyday the North Sea, on the UK side, appears to get worse. The Bagpuss J.V. is reorganizing.
Ecopetrol To Invest $13 Billion. Here are the Cliff Notes. Colombia will spend $13B and cut costs at the same time. $700 million in cuts. Their plan is based on $50/bbl oil. They are considering selling assets worth $700M to $1B. There you have it; a thousand words boiled down to a few sentences. You are welcome.
Onshore Drilling Unit, Transocean Winner, Heads Offshore. The Winner is grounded on Scotland’s coast. Weather has been unfavorably for a move, but as most things in life, the weather is changing. Anchors up.
Lundin, Leiv Eriksson and Alta Field. Lundin Petroleum AB announced that its subsidiary, Lundin Norway AS, successfully completed drilling and testing of the re-entry of appraisal well 7720/.11-3 A (Alta-3) on the eastern flank of the Alta discovery in PL609.
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