Oil Rallies Over Brexit Debate. Oil rallied on Monday, lifted by a wave of investor confidence and a weaker dollar after polls showed a diminishing chance that Britain may vote to leave the European Union later this week. [CNBC]
Exxon’s Argentine Plans. ExxonMobil may invest more than US$10 billion on developing the giant Vaca Muerta shale play. The new conservative government’s efforts to convince investors of Argentina’s appeal could be about to pay off, with ExxonMobil considering a major new oil and gas development. [Oilpro]
With Oil Near $50, Resilient U.S. Shale Producers Eye New Chapter. Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency. [Reuters]
Oil Bust Leaves States With Massive Well Cleanup. The worst oil bust since the 1980s is putting Texas and other oil producing states on the hook for thousands of newly abandoned drilling sites at a time when they have little money to plug wells and seal off environmental hazards. [Oilpro, ABC News]
Texas Supreme Court Rules Against Multibillion Dollar Tax Refund To Drillers. Texans could have been faced with billions of dollars in new taxes or lost services, had the Texas Supreme Court ruled differently Friday. The case turned on whether oil and gas companies can claim state sales tax exemptions for drilling equipment. [Dallas Morning News]
OPEC Net Oil Export Revenue Fell 46% In 2015, EIA Says. OPEC earned about $404 billion in net oil export revenues in 2015, representing a 46% decline from 2014, the EIA said in a report. The fall in oil prices is the main reason for the decline. To a lesser extent, decreases in the level of OPEC net oil exports was a factor. [Oilpro]
Rosneft ‘May Seek $11bn Stake Sale’. Russian state player Rosneft is reportedly considering a possible 700 billion rubles ($11 billion) sale of a large minority stake to China and India, prompting a spike in the company’s shares. [Upstream]
16 Top Former Military Officials Urge Obama To Keep Arctic O&G Leases In Next 5-Year Plan. 16 high ranking former military officials sent a letter to the Obama administration requesting that Arctic O&G leases be kept as part of the next Outer Continental Shelf (OCS) five-year plan for national security reasons. [Oilpro]
Trump vs. Clinton: What Does It Mean For Canadian O&G? The proposed energy policies of Republican Donald Trump and Democrat Hillary Clinton, the presumptive nominees for the 2016 U.S. presidential race, are highly divergent and if adopted in their current forms would have significantly different impacts on the western Canadian oil and gas industry. [Oilpro, jwnenergy.com]
Statoil To Use C-Kore’s Subsea Monitoring Tools for North Sea Field. Statoil has awarded C-Kore Systems a contract to supply subsea electrical monitoring tools. Statoil will be using the tools to monitor the insulation resistance and continuity of a new control umbilical during its installation at a field outside Bergen in the northern part of the North Sea. [Oilpro]
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