United Kingdom

Shell Outlines First Short-Term Carbon Emission

OilPrice.com | Mar 15, 2019 at 9:00 PM
  • Royal Dutch Shell has set its first-ever short-term goals to cut the carbon footprint of its operations and product sales as the oil and gas industry is under intense investor and shareholder pressure to address to climate change.

United States

U.S. and Brazil may partner on small nuclear reactors

CNBC | Mar 15, 2019 at 8:41 PM
  • Brazil and the United States could work together to build small nuclear reactors, Brazil’s mines and energy minister told Reuters on Friday.
  • The trip next week by right-wing Bolsonaro, who modeled his foreign policy and political style on U.S. President Donald Trump, is expected to bring closer economic, political and military ties between the two countries.

United States

CERAWEEK-Canadian oil firms lament output cuts as rail volumes slip

CNBC | Mar 15, 2019 at 8:35 PM
  • Some Canadian oil executives blame higher crude prices from mandated production curbs for hurting their refining margins and depressing shipments of Alberta crude to U.S. customers.
  • Canadian crude by rail shipments have fallen despite rising U.S. demand for Western Canadian crude.
  • Alberta in December ordered Canadian producers to cut output by 325,000 barrels per day (bpd) after local prices tumbled because of a lack of pipeline space to export markets.

Saudi Arabia

What We Are Reading Today: Truth in our Times by David E. McCraw

Arab News | Mar 15, 2019 at 8:24 PM
  • Glamour Beauty is an online shopping platform that offers a wide range of beauty products, many of which are not readily available in the region, at reasonable prices.
  • Glamour Beauty customers can rest easy, safe in the knowledge that all the items it sells are authentic.
  • The store is based in Jeddah, and offers customers in the city same-day delivery.

France

Polish reporter tells of being beaten by Venezuela police

France 24 | Mar 15, 2019 at 8:16 PM
  • A Polish journalist in Venezuela was beaten by police in the troubled South American country, he said in accounts published by his newspaper and Venezuela’s press union on Friday.
  • The account added to a long list of allegations of brutality and arbitrary arrest of media workers in Venezuela, mostly targeting Venezuelans not working for state media but also increasingly foreign correspondents.
  • The union published photos of Surdel’s bloodied and bruised face.

Canada

Imperial’s Aspen project was ‘the exception’ to Canada’s stagnant oil growth outlook. Not anymore

Financial Post | Mar 15, 2019 at 7:57 PM
  • Five months after green-lighting a new oilsands project, Imperial Oil Ltd. has reversed course and is slowing construction work on the $2.6-billion Aspen development as new oil production growth stagnates.
  • Imperial specified the Alberta government’s order forcing producers to curtail their output beginning in January.
  • In response to record-setting discounts for Western Canada Select heavy oil blends, Alberta Premier Rachel Notley announced in December that oil producers in the province would need to cut back their output by roughly 10 per cent in a bid to lift prices.

United States

Trump opens sage grouse habitat to oil and gas drilling

CNN | Mar 15, 2019 at 7:42 PM
  • He Interior Department finalized changes Friday to protections for the sage grouse bird.
  • A CNN investigation found that Bernhardt’s former client, the Independent Petroleum Association of America, repeatedly met and emailed Interior officials about the sage grouse bird.
  • In July and August 2017, IPAA lobbyist Samantha McDonald emailed an Interior staffer about the agency issuing new guidance on maps related to sage grouse and the staffer responded that Interior was “working on it,” according to emails obtained by the Western Values Project.

United Kingdom

Talos eyes new opportunities for US Gulf oil and gas drilling program, aided by small recent buys

S&P Global Platts | Mar 15, 2019 at 7:31 PM
  • US Gulf of Mexico operator Talos Energy is ramping up its oil and gas drilling program in that arena, aided by recent small bolt-on purchases that even though in the early stages of evaluation and drilling appear to add value to the mid-sized company.
  • In another core area, Talos’ Ram Powell production facility offers the same potential for multiple tiebacks.
  • Talos’ Pompano, Amberjack and Ram Powell fields represented 19,300 b/d of oil equivalent in Q4.

United Kingdom

On anniversary of FERC MLP shakeup, pipelines still wrestle with uncertainty

S&P Global Platts | Mar 15, 2019 at 7:23 PM
  • One year after the Federal Energy Regulatory Commission rocked pipeline sector stocks by moving away from a tax benefit for midstream companies organized as master limited partnerships, the story of the impact on companies continues to unfold.
  • At issue is FERC’s March 15, 2018, proposed policy statement asserting that it no longer planned to allow oil and gas pipeline MLPs to recover an income tax allowance in cost-of-service rates.
  • For now, FERC is working its way through informational filings it required from gas pipelines to help discern whether companies need to lower rates due to FERC’s altered tax policy along with the lowered corporate income tax rate under the Tax Cut and Jobs Act of 2017.

Switzerland

Latam lender replaces Venezuela’s Maduro representative with Guaido economist

Swissinfo | Mar 15, 2019 at 7:13 PM
  • The Inter-American Development Bank on Friday voted to replace the representative of Venezuelan President Nicolas Maduro with an economist backed by opposition leader Juan Guaido.
  • The decision makes the IADB, Latin America’s largest regional lender, the first financial institution to recognise Guaido and would eventually free up development lending to Venezuela if Maduro steps down.
  • IMF approval would also allow the World Bank, the world’s largest development institution, to make a decision on Guaido.