$1 Trillion in Projects Deferred. You want a shortage of oil? You are going to get a huge one. Ron Bousso of Reuters puts together an excellent analysis making the case for $70oil by 2020.
A Cold and Hard Winter is Coming. There is a bright side though. Natural gas prices are at 22 month highs with La Nina demanding a bitingly cold winter. I don’t care what you say … the news is getting better for Oilpros.
Turkey and Russia Forgive but Don’t Forget. On Monday, Russian President Vladimir Putin met with his Turkish colleague Recep Tayyip Erdogan on the sidelines of the World Energy Summit in Istanbul. They discussed the Syrian conflict and sealed an agreement to construct the long-planned Turkish Stream oil pipeline.
Brazil and Portugal Extend Cooperation. Petrobras and Galp Energia get together on offshore research and development projects. It is great to see NOCs coming together as the price of oil increases. You can just feel the love as oil prices climb.
Quote of the Day on FMC, Technip Deal. Hurricane Energy said it has picked Technip and FMC Technologies as its provider of subsea solutions for it North Sea Lancaster project.
The firm said under the alliance the companies will work together on the Lancaster Early Production System
PGS and Industry Pubs Cheer Q3. PGS has certainly landed some important work in thelast quarter but they have a long way to go. Not sure why other pubs are so giddy, these financials look like a blood bath.
In Real Geoscience News, Layoffs Continue. EMGS, out of Norway, is cutting more staff in light of lower vessel utilization.
Environmental Terrorists Use Bolt Cutters on U.S. Pipeline. I just love how the liberal media refers to these yahoos as “climate activists”. How about criminals? “On Tuesday, climate activists broke through fences and cut locks and chains simultaneously in several states and simply turned pipelines off.”
SacOil Has Settled a Long Running Tiff with Nigeria. As oil prices climb, we are seeing several players in the market put aside their differences. SacOil,announces the following update with regards to the legal dispute with Nigdel United Oil Company Ltd
OPEC squeezes out a bit more oil before cuts begin. Production in September hit a multi-year record high. Some believe that there will be no deal and Russia, Saudi, Iran, and Iraq will keep the taps flowing full blast. Some people may be right.
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