Brent Crude Hits New High. Brent crude oil traded above the $50 mark for the first time in six weeks, as September talks among OPEC members about curtailing production approaches. [Reuters]
North Sea Strike Heads For New Talks. Further strike action by North Sea oil workers has been put on hold as both RMT and Unite unions will begin fresh talks with Wood Group next week. [BBC]
Emmissions From Natural Gas Projected To Surpass Coal. According to a report by the Energy Information Administration, energy-related CO2 emissions from natural gas are expected to surpass those from coal for the first time since 1972.
Jones Energy Snaps Up Oklahoma Shale Acreage. Jones Energy, an exploration and production company based out of Oklahoma, announced the signing of a definitive purchase and sale agreement to acquire approximately 18,000 net acres.
FERC Application Filed For Expansion Of Transco Project. Transcontinental Gas Pipe Line Company is looking for federal approval as the company looks to expand its natural gas systems in Texas and Louisiana.
Maersk To Axe 400 Jobs, 20 Vessels. Maersk Supply Service is slashing 400 jobs and 20 vessels over the next 18 months in response to numerous challenges in the industry.
US Associated Gas Out Output Slows. A report by Fitch Ratings is pointing to a decline with associated gas production at US shale plays providing a boost to natural gas prices. [Natural Gas Europe]
Exxon Curbs Production At Louisiana Refinery Amid Floods. Production has been slowed at the fourth-largest U.S. refinery in Baton Rouge, LA, as record flooding sends thousands fleeing from their homes.
Louisiana Pipelines At Risk From Coastal Erosion. In a report by Bloomberg, the agency puts forward that Louisiana’s sinking coast is a “$100 billion nightmare” for big oil, as each year more than 20 square miles of land is swallowed by the gulf. [Bloomberg]
Premier Oil Saves Big With Brexit Windfall. Premier Oil announced Thursday a return to profit in the first half of the year, which got some help from a $250 million savings thanks to a weak pound following Brexit. [Reuters UK]
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