Oil Prices Rise Again. Oil prices had another good day, rising for the sixth day in a row including and eight-week high for Brent crude. [Reuters/CNBC]
North Sea Crude Glut Giving Way. The glut of crude oil in ships in the North Sea isfinally beginning to decline, fueled in part by supply disruptions in Nigeria and other factors. [Bloomberg]
Artillery Fire Damages Eastern Ukraine Pipelines. Eastern Ukrainian officials claim forces aligned with the government in Kiev used rockets against rival positions in the region, damaging three natural gas pipelines. Russian officials, naturally, dispute this.
Statoil Submits A Plan For North Sea O&G Discovery. Statoil and its partners todaysubmitted the Plan for Development and Operation of the Byrding oil and gas discoveryin the North Sea to government authorities.
Libyan Tanker Loads Oil At Threatened Port. Libya’s National Oil Corporation began to collect oil yesterday at the Zueitinia port along the country’s eastern coast, as tensions continue to permeate between separatist factions and the Petroleum Facilities Guard.
Kurdish Pipeline Resumes Activity. Kurdish officials say Iraq has resumed pumping oil from North Oil Company fields in a pipeline that had been shut off since March over a dispute between Baghdad officials and the Kurdistan Regional Government. [Reuters]
Deteriorating Oil Firms In Singapore Creates Issues. The government of Singapore may have to lend more support to companies with issues meeting debt obligations in the wake of the oil price slump, as some of the country’s oil-services providers take big hits. [Reuters]
Major Australian Oil & Gas Producer Posts Major Losses. Australian energy company Santos posted sizable losses in the first half of 2016 with losses totaling $1.1 billion. [UPI]
Alaska LNG Project To Be Run By State. The Alasak LNG project will be taken over by state government officials but major oil companies are saying they might not continuewith the $55 billion project amid the current market conditions.
Maine LNG Terminal Plans Dismissed. A “lack of progress” is to blame for U.S. federal officials dismissing an application to build a LNG terminal in Robbinston, ME.
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