Oil Prices Climb As EIA Reports Surprise Inventory Draw

A day after the American Petroleum Institute reported yet another estimated weekly build in U.S. oil inventories, the Energy Information Administration rejected it, reporting a draw of 1.7 million barrels for the week to October 18. This interrupts a four-week string of inventory builds as prices trend lower on global economic growth concerns and its adverse impact on ...

Source: Oilprice.com

Big Oil Hit Hard By Supreme Court Rejection

The U.S. Supreme Court has rejected requests by a number of oil companies to block three lawsuits launched against them by state and local governments for their role in climate change. Bloomberg reports that the oil companies—including BP, Chevron, ConocoPhillips Exxon, Shell, and Phillips 66—had requested that the cases which have been filed in Maryland, Rhode Island, and Colorado, ...

Source: Oilprice.com

Russian Oil Boss Speaks Out Against OPEC+ Cuts

Lukoil’s chief executive Vagit Alekperov has joined Rosneft’s Igor Sechin in voicing his opposition to another extension of the OPEC+ oil production cut agreement, Reuters reports, citing Russian news agency RIA Novosti. “I am a supporter of keeping everything stable until April, when the agreement expires, and only after that... to make decisions,” Alekperov said. This report follows an earlier ...

Source: Oilprice.com

China adds incentives for domestic natural gas production as imports increase

Rapid growth in China’s natural gas consumption has outpaced growth in its domestic natural gas production in recent years. China’s natural gas imports, both by pipeline and as liquefied natural gas (LNG), accounted for nearly half (45%) of China’s natural gas supply in 2018, an increase from 15% in 2010. To increase domestic production of natural gas, the Chinese government ...

EIA’s Hourly Electric Grid Monitor shows effects of California wildfire-related shutoffs

Starting on Wednesday, October 9, 2019, California electric utility Pacific Gas and Electric (PG&E) shut off electricity to hundreds of thousands of customers in 34 California counties. PG&E had restored electricity to all of those customers by Saturday, October 12. PG&E attributed its decision to shut off electricity to gusty winds and dry conditions in the area, which increases the ...

Absolute Public Online Auction—Bertram Drilling Corp. Bankruptcy

As Authorized by FTI Consulting Inc., as Monitor Carbon, Alberta, Fort Saskatchewan, Alberta and Richmond, British-Columbia Absolute Public Online Auction Bidding Starts Closing: Wednesday, October 30th, 2019 at 10:00 am (MDT) Featuring: 10 Atlas Copco TH60 Drills, Foremost HD24 Dual Rotary Drill, Heli-Portable Rigs, 3 Sonic Rigs, Assortment of Vehicles, Tools, & Much More! Lots being added DAILY! [Read more]

Source: BOE Report

Connect with industrial thought leaders and discover what it takes to dominate today’s volatile market – Activation 2019

The future is uncertain. Alberta’s economy has taken a big hit over the past few years, resulting in a competitive economy where only the fittest survive. Join industry thought leaders as they discuss what it takes to dominate and remain competitive in today’s volatile industrial market. Created for companies looking to trailblaze in today’s industrial [Read more]

Source: BOE Report

Reuters Insider – Asia Insight: Stocks slip on Brexit worries, Texas Instruments miss.

Click the following link to watch video: Source: Reuters Insider Description: Asian shares slipped as revenue warnings from Texas Instruments raised worries about the global tech sector. Nerves were rattled, too, after British lawmakers forced the government to hit the 'pause' button on the latest Brexit deal. Short Link: Video Transcript: Verified transcript not available

Source: BOE Report

Equinor announced as new TechX strategic partner alongside existing companies, BP and KPMG

The Oil & Gas Technology Centre (OGTC) has officially launched the third year of its award-winning accelerator programme, TechX, with the announcement of new industry partner, Equinor.

The TechX Pioneer Programme – a unique technology accelerator and incubator - helps ambitious start-ups take their solutions to the energy market faster. To date, 21 companies have now graduated from the award-winning ...

Source: Oil and Gas Technology’s News Feed

REC Silicon ASA – Manufacturers of U.S.-Made Polysilicon Call for End to Chinese Tariffs During Meeting Today with U.S. House Manufacturing Caucus

Washington, DC, October 22, 2019: The three largest manufacturers of polysilicon in the United States stressed today that Chinese tariffs imposed on U.S.-made polysilicon over the past five years have put the industry at risk, making the U.S. effectively reliant on China for this critical material. During a meeting with the U.S. House Manufacturing Caucus [Read more]

Source: BOE Report

Recognized by High-End Market, CNNC Signed the Largest Nuclear Power Contract in Europe

BEIJING, Oct. 23, 2019 /PRNewswire/ — China National Nuclear Corporation (CNNC) is a nuclear power plant constructor and operator specializing in nuclear defense, nuclear power, nuclear fuels and nuclear technologies. According to CNNC, the installation of the Heart for International Thermonuclear Experimental Reactor (ITER), an international big science project only second to the International Space Station (ISS) [Read more]

Source: BOE Report

U.S. refinery operations-Exxon Baytown Texas refinery shuts hydrocracker for repairs

The following is a list of refinery incidents reported in the United States on Oct. 22: * Exxon Baytown Texas refinery shuts hydrocracker for repairs – sources * Valero Port Arthur refinery crude unit restart expected next week =============================================================================================== REFINERY INCIDENTS: (LISTED BY REGION, WITH MOST RECENT INCIDENTS FIRST) =============================================================================================== Company Location Capacity* Timing Reason/Notes [Read more]

Source: BOE Report

Asian shares struggle after yet another Brexit delay

Asian shares and U.S. stock futures dipped on Wednesday after British lawmakers rejected the government's timetable to fast-track legislation for its deal to take Britain out of the European Union. Technology shares in the region were knocked after Texas Instruments forecast current-quarter revenue well below estimates in a sign the global microchip industry is being [Read more]

Source: BOE Report