U.S. natural gas end-of-season storage forecasts

U.S. natural gas storage is expected to end the April-October withdrawal season at 3.726 trillion cubic feet (tcf) around Oct. 31, according to analysts. That compares with 3.237 tcf at the end of the injection season in 2018, the least in 13 years, and a five-year (2014-2018) average of 3.719 tcf. The 380 active storage [Read more]

Source: BOE Report

Reuters Insider – Canada to ban single-use plastics by 2021

Click the following link to watch video: Source: Thomson Reuters Description: Canada plans to ban some environmentally harmful single-use plastics like straws, bags and cutlery by early 2021 to reduce waste and litter and protect the world's oceans, Canadian Prime Minister Justin Trudeau said on Monday. Rough Cut (no reporter narration). Short Link: Video Transcript: [Read more]

Source: BOE Report

Gazprom is offering personalized educational grants to the top three applicants for its training program in oil and gas trading.<br>On June 25, 2019, the specialized department of Gazprom at the St. Petersburg State University of Economics will start screening applicants for its applied master’s program entitled Economics of Oil and Gas Trading.<br>Successful alumni will receive opportunities for employment with the Gazprom Group.

Gazprom is offering personalized educational grants to the top three applicants for its training program in oil and gas trading.
On June 25, 2019, the specialized department of Gazprom at the St. Petersburg State University of Economics will start screening applicants for its applied master’s program entitled Economics of Oil and Gas Trading.
Successful alumni will receive opportunities for employment with the Gazprom Group.

«Газпром» и СПбГЭУ начинают отбор кандидатов по программе подготовки специалистов нефтегазового трейдинга

«Газпром» и СПбГЭУ начинают отбор кандидатов по программе подготовки специалистов нефтегазового трейдинга

Greenpeace Activists Stop BP Rig

Three Greenpeace activists stopped a BP exploration rig that was supposed to leave this weekend from Scotland to an offshore oil field. In a Tweet, one of the activists who identified herself as Jo, posted a statement saying, “I'm occupying a @BP_plc oil rig that intends to drill up 30 million barrels of climate wrecking oil in the North Sea. As long as I'm here, the rig isn't going anywhere.” A later statement released by the organization to media and quoting the same activist said “This rig and the 30 million barrels it seeks…

Source: Oilprice.com

Platts: OPEC Oil Production Slumps With Saudis Cutting Deeper

OPEC’s oil production dropped by 170,000 bpd from April to 30.09 million bpd in May—the lowest level since February 2015, as Saudi Arabia cut its oil output even deeper despite the end of the U.S. sanction waivers for Iranian oil customers, according to the monthly S&P Global Platts survey.   According to the survey that measures well-head crude oil production in each OPEC state, the cartel’s largest producer Saudi Arabia further slashed its production in May—by 120,000 bpd from April to 9.7 million bpd last month.…

Source: Oilprice.com

DTN Acquires PraxSoft, Strengthens IoT Offering

The acquisition will enable the organization to accelerate data acquisition from a wide range of sensors across different industries and enable game-changing insights to drive dramatically improved business decisions. MINNEAPOLIS–(BUSINESS WIRE)–#DTN—DTN, an independent source of insights, analysis and decision-support solutions, has acquired PraxSoft, a leading provider of sensor interface and communications technology which collects, processes [Read more]

Source: BOE Report

Almost all U.S. coal production is consumed for electric power

Coal is one of the main sources of energy in the United States, accounting for 16% of its primary energy production in 2018 according to EIA's Monthly Energy Review. Nearly all of the coal consumed in the United States is produced domestically, and most is consumed by the electric power sector to generate electricity, while some is exported. EIA's U.S. coal flow diagram helps to visualize the overall view of U.S. coal energy from supply (production, imports, and stock withdrawals) to disposition (consumption, exports, and losses).

Shell Plans to Drill 10 UK Wells a Year in Expansion Drive (Monday, 10 June 2019)

Shell plans to drill 10 wells a year offshore the UK as operator over the next three years, including development and exploration wells, as it builds its North Sea hubs and looks for West of Shetland opportunities, its UK and Ireland vice president Steve Phimister said Wednesday.

Phimister said Shell had recently taken on three new drilling units and was "optimistic" about exploration both in the central North Sea and the West of Shetland area. The 10 wells a year to be drilled would be a combination of development and exploration wells, he said on the sidelines of a conference.

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Europe's oil and gas majors are mostly focusing their UK operations on the less mature West of Shetland area, particularly with the departure of their US counterparts, but all retain assets in the core North Sea as well.

In the West of Shetland area, Shell could return to an operating role if opportunities arise out of its exploration acreage, in which it is mostly a junior partner to BP, but holds some licenses as operator, Phimister said.

Shell is a minority partner in all the main West of Shetland oil production hubs operated by BP -- Clair, Schiehallion and Foinaven -- and has a 30% stake in Siccar Point Energy's 100 million barrel Cambo oil project.

However, this non-operating role is a legacy issue rather than a point of principle, Phimister said. "We have some operated exploration areas in the West of Shetland. If operated opportunities come along for us, I would be interested."

Shell was "working hard" with Siccar Point to select a development concept for Cambo, and "looking for [project] sanction as soon as we can", he said.

Central North Sea plans

In the central North Sea, Shell aims to approve another gas and condensate project, known as Jackdaw, next year, involving a four-well development, Phimister said. It would supplement the Fram and Arran projects approved last year as part of Shell's Shearwater hub area, he said.

The company also plans exploration drilling near the Gannet and Nelson fields, also in the central North Sea, he said.

Shell is also interested in the possibility of increasing its 28% stake in Shearwater, which the company operates, but with BP holding an equal stake, Phimister said. "I am interested always to deepen [ownership] at the right price in my own core hubs," he said.

Source: www.spglobal.com

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Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

KCA Deutag Gets New Chief Executive (Monday, 10 June 2019)

The Board of KCA Deutag is pleased to announce the appointment of Joseph Elkhoury as its new Chief Executive Officer with effect from 1 July 2019. Joseph takes over from Norrie McKay who has confirmed his intention to retire later this year. Norrie will remain with the group in an advisory capacity until 31 December 2019, working closely with Joseph to ensure a smooth transition.

Joseph brings with him 26 years of experience in a wide variety of operational and leadership roles in the oilfield services industry. Most notably he spent 21 years with Schlumberger Limited, originally joining the group in 1993 as a Wireline Field Engineer in Abu Dhabi. During his time there he held a number of senior positions and had responsibility for several of Schlumberger’s businesses including Microseismic Services, Production Services, Information Solutions and Global Supply Chain.

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In 2014, Joseph left Schlumberger to join stock exchange listed oil and gas services company, Tetra Technologies, Inc. as its Chief Operating Officer and Senior Vice President, with a mandate to improve its financial performance and to build a long term strategy for the company. During his time with Tetra, profitability increased significantly and transformation of the company was accelerated to capitalize on the growing US shale and other land markets.

Most recently Joseph was an Operating Partner, focusing on investment opportunities in the energy technology sector, at Apollo Global Management LLC, one of the world’s largest alternative investment managers. He is also currently Chairman of the Board of Express Energy Services, one of its portfolio companies.

In each of his senior leadership roles Joseph has demonstrated a strong client focused commercial acumen, and an outstanding ability to lead from the front, working with his teams to set the strategy and vision for the future, with the aim of delivering long term profitable growth. He is also extremely focused on tactical execution and driving continuous performance improvement across an organisation, introducing value-add initiatives, and embedding a strong safety and quality culture.

Originally from Lebanon, Joseph has a degree in electrical engineering from the American University of Beirut. He has, throughout his career, worked in various countries around the world and has an exceptional understanding of working across and with different cultures.

KCA Deutag Chairman, Bob Ellis said: “We are extremely pleased that Joseph is joining KCA Deutag. He brings with him an impressive range of international experience and a deep understanding of the dynamics of our market which we believe is essential as we take KCA Deutag into the next phase of its development.

“On behalf of the Board of Directors, I would also like to take this opportunity to thank Norrie for the huge contribution he has made to the business since he joined KCA Deutag eight years ago.

“Under his strong leadership the group has continued to flourish despite the worst downturn the oil and gas industry has ever experienced. He has not only led KCA Deutag from the front with his unwavering drive to deliver safe, effective and trouble-free operations, but he has also spearheaded our successful growth strategy. This culminated in the acquisition of the Omani and Saudi Arabian businesses of Dalma Energy in 2018, and the establishment of Turan Drilling & Engineering, the group’s new joint venture in Azerbaijan.”

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Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Encana provides interim update on strength of operations

Encana repurchased 10% of its outstanding shares year-to-date; Plans to commence additional buyback in July 2019 Recent strong well performance in STACK strengthens the Company’s second quarter 2019 production outlook Company reiterates annual capital investment plan Portfolio further refined through agreement to exit China CALGARY, June 10, 2019 /CNW/ – Encana Corporation (NYSE, TSX: ECA) today [Read more]

Source: BOE Report

Rice Team Sends Letter to Fellow EQT Shareholders Setting the Record Straight on EQT’s Misleading Comments

EQT Shareholders Urged to Not Be Misled by Mistruths and Let the Facts Speak for Themselves CARNEGIE, Pa.–(BUSINESS WIRE)–The Rice Team (Toby Z. Rice, Derek A. Rice, J. Kyle Derham and William E. Jordan), shareholders of EQT Corporation (NYSE: EQT), today sent a letter to EQT shareholders seeking to correct a number of false claims [Read more]

Source: BOE Report