Energy Update
Oct 28 (Reuters) - A Native American tribe and other
activists opposed to a multibillion-dollar oil pipeline project
in North Dakota vowed on Friday to continue their fight through
direct action, legal challenges and growing celebrity support, a
day after police arrested 141 of their members.
HOUSTON, Oct 28 (Reuters) - Exxon Mobil Corp, whose
oil field assets are being investigated by the U.S. government,
warned on Friday it may need to slash proved reserves on its
books by nearly 20 percent if oil prices stay low for the rest
of 2016.
WASHINGTON, Oct 28 (Reuters) - Fayez Sarofim, a billionaire
darling of Houston high society known for running a Texas
investment company, has agreed to pay a $720,000 civil penalty
for failing to report the purchase of voting securities of
Kinder Morgan and Kemper Corporation, the Federal Trade
Commission said on Friday.
PARIS, Oct 28 (Reuters) - France has delayed a decision on
promised nuclear reactor decommissioning, effectively putting on
hold a process that could ultimately be overturned with a change
of government next year.
BRUSSELS, Oct 28 (Reuters) - The European Union has lifted a
cap on Gazprom's use of the Opal pipeline in Germany
which takes gas from its Nord Stream Baltic Sea pipeline to
end-users in Germany and the Czech Republic, opening the way for
Russia to expand Nord Stream's capacity and bypass Ukraine as a
gas transit route.
MEXICO CITY, Oct 28 (Reuters) - Mexico's state-run oil
company Pemex reported a narrower 118.36 billion peso ($6.1
billion) third-quarter net loss on Friday, even as it continues
to grapple with low prices and declining crude production.
HOUSTON, Oct 28 (Reuters) - U.S. refiner Phillips 66
expects a permit will be granted to build a controversial oil
pipeline under the Missouri River near Native American land in
North Dakota, Chief Executive Officer Greg Garland said on
Friday.
(Adds Bakken rig count)
Oct 28 (Reuters) - U.S. oil drillers cut rigs this week for
the first time since June, ending a 17-week recovery in the rig
count, even as crude prices mostly held over $50 a barrel this
month, the key level analysts said should lead to more drilling.
Drillers cut 2 oil rigs in the week to Oct. 28, bringing the
total down to 441, compared with 578 rigs a year ago, energy
Oct 28 (Reuters) - U.S. oil drillers cut rigs this week for
the first time since June, ending a 17-week recovery in the rig
count, even as crude prices mostly held over $50 a barrel this
month, the key level analysts said should lead to more drilling.
Drillers cut 2 oil rigs in the week to Oct. 28, bringing the
total rig count down to 441, compared with 578 rigs seen a year
ago, according to energy services firm Baker Hughes Inc
on Friday.
HOUSTON, Oct 28 (Reuters) - Construction is continuing on
the Dakota Access Pipeline (DAPL) even as a dispute with Native
Americans has blocked work on a section of the project, the
chief executive of Phillips 66, which owns 25 percent of
the project, said on Friday.
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