Energy Update
(Tue, 11 Oct 2016) Starting with the <em>Weekly Petroleum Status Report</em> (WPSR) published on Thursday, October 13, the U.S. Energy Information Administration will no longer include crude oil lease stocks in U.S. total commercial crude oil inventory data. Crude oil lease stocks refer to oil (currently about 31 million barrels' worth) that is stored in tanks at sites across the United States where producers are drilling on leased land.
MELBOURNE, Oct 11 (Reuters) - BP Plc has abandoned
plans to drill for oil and gas off the south coast of Australia,
saying it can get better value for its exploration spending
elsewhere, although it still sees strong potential in the Great
Australian Bight.
LONDON, Oct 10 (Reuters) - Saudi Arabia successfully
confounded hedge funds with bearish views on oil by reaching an
unexpected production deal with OPEC members in Algiers on Sept.
28, sending prices soaring in a short-covering rally.
SINGAPORE, Oct 11 (Reuters) - Oil prices edged down early on
Tuesday but held near one-year highs touched on growing
expectations of an output cut by OPEC producers, and traders
said the price outlook remains bullish as confidence in crude
markets rises.
SemCAMS, a subsidiary of SemGroup, has entered into an agreement with NuVista Energy to proceed with a project that will include the processing of up to 120 MMcf/d of sour gas at a new gas plant SemCAMS will build in the Wapiti area of Alberta.
WASHINGTON, Oct 10 (Reuters) - President Barack Obama
declared a state of emergency in North Carolina on Monday after
Hurricane Matthew roared through the state over the weekend, the
White House said.
UNITED NATIONS, Oct 10 (Reuters) - China appears to have
pushed back on a U.S. bid to close a U.N. loophole that allows
North Korea to export coal for "livelihood purposes," saying the
well-being of North Koreans is a priority in negotiations on
possible new U.N. sanctions on Pyongyang.
Oct 10 (Reuters) - Actress Shailene Woodley was arrested in
North Dakota on Monday while protesting a planned pipeline that
Native Americans say will desecrate sacred land and damage the
environment, an incident that was live streamed on Facebook.
SAO PAULO, Oct 10 (Reuters) - Corruption charges against
former Brazilian President Luiz Inacio Lula da Silva piled up on
Monday as prosecutors accused him and Marcelo Odebrecht, ex-CEO
of engineering group Odebrecht SA, in an alleged bribery scheme
related to contracts in Angola.
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