United States

Factbox: Canadian oil companies cut 2019 capital expenditure

Reuters | Mar 15, 2019 at 5:26 PM
  • Canada’s oil producers lowered their capital expenditures for 2019 due to volatility in crude prices and mandatory production cuts in the province of Alberta.
  • Companies with refineries like Imperial Oil and Husky Energy Inc, which have been hit by the subsequent rise in cost of crude feedstock, have slammed the government’s decision.
  • Global crude prices have also been under pressure on concerns over a supply glut and an economic slowdown.

United States

Solaris Oilfield Infrastructure Has Hit A Ceiling For Now

Seeking Alpha | Mar 15, 2019 at 5:10 PM
  • Solaris Oilfield Infrastructure (SOI) provides supply chain management and logistics solutions to the energy industry, including mobile and permanent infrastructure that increases proppant throughput capacity.
  • Although it has initiated dividend payment recently, which signals the management’s ability to increase shareholders’ return, the sustainability of such program would depend on the company’s ability to generate FCF on a more consistent basis.
  • Solaris’ standard Solaris Mobile Proppant Management System has 2.5 million pounds of vertical proppant storage capacity.

Switzerland

Algerians demand Bouteflika quits in biggest protest yet

Swissinfo | Mar 15, 2019 at 5:03 PM
  • Hundreds of thousands of people protested in central Algiers on Friday in the biggest demonstration against President Abdelaziz Bouteflika’s 20-year rule since unrest began last month.
  • Reuters journalists estimated the crowd at hundreds of thousands of people but there was no police estimate.
  • Algeria is a major oil and gas producer.

United Kingdom

Canada Digs Deep To Fund Protection From Oil Spills

OilPrice.com | Mar 15, 2019 at 5:00 PM
  • Canada’s Minister of Fisheries, Oceans and the Canadian Coast Guard, Sean Casey, will make an important announcement on March 18th concerning funding provided to international organizations to protect Canadian waters from oil spills, the Canadian federal government said on Friday.
  • Canada has a so-called Marine Oil Spill Preparedness and Response Regime.
  • Under Canada’s US$1.1 billion (C$1.5 billion) Oceans Protection Plan, more than US$34 million (C$45 million) is invested in collaborative research initiatives expected to lead to collaboration among oil spill researchers across Canada and around the world.

India

4 months to 2 days: Digitisation cuts land buy notification time

Times of India | Mar 15, 2019 at 4:41 PM
  • Digitisation of land records and online processes have reduced the time taken for notification for land acquisition to only “two” days against earlier norm of nearly 3-4 months.
  • Since the launch of BhoomiRashi system in April, which has digitised procedures for land procurement, the highways ministry has issued notifications for acquiring more than 26,000 hectares till January as compared to barely 10,000 during the entire 2017-18.
  • Against the usual trend of NHAI and the ministry issuing 1,000 notifications annually for land acquisition, in 10 months more than 2,500 notifications were issued because of the online system.

Ireland

Bouteflika’s role looks ever weaker as Algerians take to streets

Irish Times | Mar 15, 2019 at 4:35 PM
  • Hundreds of thousands of people protested in central Algiers on Friday in the biggest demonstration against President Abdelaziz Bouteflika’s 20-year rule since unrest began last month.
  • Algeria is a major oil and gas producer.
  • Mr Bouteflika and his allies, effective manipulators of the opposition, managed to avoid major unrest by spending oil money on the population, handing out low-interest loans and housing.

Ukraine

Ukrtransgaz Invites 10 Tenders For Procurement Of 1.17 Billion Cubic Meters Of Gas For UAH 8.5 Billion

Ukrainian News | Mar 15, 2019 at 4:24 PM
  • This is evidenced by data in the ProZorro public procurement system, Ukrainian News Agency reports.
  • Ukrtransgaz invited 5 tenders for the procurement of 80 million cubic meters of gas to meet production and technology needs and own needs for UAH 580 million each.
  • Also, Ukrtransgaz invited 5 tenders for the procurement of 154 million cubic meters of natural gas to meet production and technology needs and own needs for UAH 1.116 billion.

United Kingdom

Italian oil giant to plant huge forests to offset carbon emissions

The Telegraph | Mar 15, 2019 at 4:21 PM
  • ENI, the Italian oil and gas company, will plant forests four times the size of Wales across southern Africa to help cut its net carbon emissions to zero by the end of the next decade.
  • The €56bn oil company hopes the forests will help absorb its excess emissions while cleaning up its global oil and gas production business.
  • Under the new strategy ENI will also tighten up on rogue methane emission leaks from its exploration and production business and cut gas flaring.

Russian Federation

Sibur to start paying higher dividends from 2019

TASS Russian News Agency | Mar 15, 2019 at 4:13 PM
  • Sibur will start paying higher dividends in periods starting from January 1 of this year, Chief Executive Officer of the Russian petrochemical giant Dmitry Konov told reporters on Friday.
  • Sibur approved earlier the new dividend policy stipulating payments of at least 35% of IFRS net profit attributed to shareholders.
  • The previous dividend policy approved in 2014 contemplated payments of 25% of profit.