Stockpiles Rise, Prices Fall. Crude oil extends its losses in the wake of The American Petroleum Institute’s latest report showing stockpiles rose by 9.3 million barrels in the week.
The Rumors Of Oil’s Death Have Been Greatly Exaggerated. David Blackmon of Forbes weighs in on premature reports of the death of the oil and gas industry and how global demand rates fly in the face of “sky is falling” attitudes.
Colonial Pipeline Issues Take To The Skies. Major airliners might be feeling the pinch if Colonial wins a regulatory approval to halt shipments of high-sulfur jet fuel and diesel in a bid to improve efficiency.
Oil Majors Invest Big Time In Renewables. A Reuters exclusive report sheds light on how the CEO’s of seven oil and gas companies will announce plans for an investment fund to promote renewable energy, although the actual structure of the investment remains uncertain.
A Dakota Access Pipeline Reroute? Don’t look now, but President Obama is hinting that officials could reroute the controversial pipeline around Native American Lands, but also said he wanted to let the situation “play out for several more weeks.”
Southern California Gas Co. Wants Replenishments. The gas company appealed to regulators this week to allow it to inject its natural gas supply at the Aliso Canyon storage facility, but officials want to make sure the wells are safe.
Nigeria, Libya Not Feeling The Whole Production Curb Thing. Both countries continue to increase oil production considerably while OPEC still hammers away at a potential cut.
Shell’s BG Group Plc Deal Pays Off. BG Group’s cash generated now outstrips its spending as production has risen as Shell marks a huge turnaround for an acquisition that was under intense scrutiny from investors.
Lundin Hasn’t Fallen. Swedish energy company reports a strong revenue increase of more than 70 percent in its latest quarterly report with net production more than doubling from the same period last year.
New England Could See Gas Prices Spike. In a region already receiving more than half of its energy suppy from gas, prices there could fall victim to particularly harsh market volatility but that will all depend on the weather this winter.
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