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28 июня, 00:19

$30 Oil Could Spark Contagion In Energy Markets

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If oil prices continue to fall, the financial damage could start to become a concern. A new analysts from Deutsche Bank finds that the high-yield energy market could start to suffer from contagion if oil prices drop to the mid-$30s. At $35 per barrel, for example, the debt-to-enterprise value jumps to over 55 percent for a lot of high-yield energy companies. The result could be a surge in yields that put a lot of pressure on companies. Yields are already up 1 percentage point over the past month, corresponding with the plunge in oil prices.…

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28 июня, 00:07

Oil Prices Slide After API Reports Crude, Gasoline Build

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The American Petroleum Institute (API) reported a build of 851,000 barrels in United States crude oil inventories, compared to analyst’s rather steady-as-she-go-yet-still-too-optimistic expectations that this week would see between a 2.3-million-barrel and 3.25-million-barrel draw for the week ending June 23. Today’s build is likely to take all the wind out of any remaining optimists’ sails, after prices recovered earlier Tuesday by about 2% as investors prematurely priced in what they thought would be a small crude oil inventory…

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28 июня, 00:06

Shale Rebound Runs Out Of Steam At $40 Oil

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The IEA recently predicted that U.S. shale would grow by at least 430,000 bpd this year, plus another 780,000 bpd in 2018. But those heady growth projections are in doubt with oil prices plunging to their lowest levels in ten months. In fact, lower oil prices come at a time when the industry is struggling to achieve deeper cost reductions. Over the past three years, shale drillers have improved well economics by drilling longer laterals, using more sand, finding the sweetest spots, and generally doing more with less. But the lowest hanging fruit…

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27 июня, 23:54

Are Driverless Cars Messing With Texas?

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Earlier this month, Texas Governor Greg Abbott approved a law that would allow the entire state to serve as a testing ground for driverless cars. This initiative—though reflective of the reductionist regulatory environment boasted by the Lone Star State’s Republican leadership—undermines the state’s existing energy sector. The new law is a bid to attract investments from companies in Silicon Valley, Detroit, and other cities building the next generation of mass market vehicles. For an auto-piloted car to hit Texas roads,…

27 июня, 23:15

Russia’s Pipeline Play Has Eastern Europe On Edge

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Russia has been a major energy supplier to the European market for decades, and is looking to expand its dominance with a new pipeline that could feed natural gas directly to the continent’s biggest economy. A deal on Nord Stream 2, a gas pipeline that will link the Ust-Luga area west of St. Petersburg directly with Germany, was signed by Russian energy giant Gazprom in late April. If completed, the pipeline would give Russia more than fifty percent of the Germany gas market and potentially increase its share of markets throughout Central…

27 июня, 22:39

String Of Downgrades Creates Buying Opportunity For Oil Stocks

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Analysts from New York-based investment bank Seaport Global Securities LLC, Barclays Plc., Morgan Stanley, Macquarie Capital Ltd. and Capital One Securities have recently downgraded a slew of big oil companies, explorers, oilfield service providers and other E&P companies. The downgrades come as the sentiment in the oil sector turns bearish, with the market now believing that without further steps from OPEC and its allies, oil is likely to fall to as low as $20s per barrel in the next year. But, will oil really retest the lows and stay there?…

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27 июня, 21:49

Oil Rebounds Despite Sour Sentiment

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Markets remain on edge despite a recent upturn in oil prices. The risk that oil may fall into the mid-$30s is looming and could spell disaster for investors. (Click to enlarge) (Click to enlarge) (Click to enlarge)• Oklahoma has seen a surge of seismic activity over the past several years, and the USGS points the finger at underground injection of wastewater, a practice that takes place during oil and gas drilling. • According to the EIA: “Before 2009, Oklahoma might have experienced one to two low-magnitude earthquakes per year.…

27 июня, 19:21

Three-Fourths Of All US Energy Firms Were Hacked In 2016

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Hackers have targeted Russian oil giant Rosneft, the company said on Tuesday, just as Deloitte released a report on cyber-attacks targeting U.S. oil companies. A “powerful hacker” attacked the company’s server in an assault that, according to TASS news agency, could be related to ongoing legal proceedings. A Russian court recently froze assets of a holding company called Sistema as part of a suit lodged by Rosneft and Bashneft. The two companies are trying to recover $2.9 billion lost during Sistema’s 2014 restructuring.…

27 июня, 19:21

Baghdad Threatens Legal Action Against KRG Over Authorized Exports

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Two weeks after a 700,000-barrel tanker named Neverland reportedly began its journey towards the U.S. East Coast, Baghdad declared its readiness to challenge the legal validity of Kurdish oil exports in American courts, according to a new report by S&P Global Platts. The ministry will challenge the legality of any shipments originating from semiautonomous Kurdistan, according to an anonymous senior Iraq oil ministry official. Tensions between Erbil and Baghdad have been brewing in recent weeks as the war against the Islamic State (ISIS) winds…

27 июня, 19:21

Oil Sands Exodus Pushes Canada’s M&A Deals To Highest Since 2007

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International oil majors have sold a number of oil sands assets in Canada in recent months, with energy deals dominating the total mergers and acquisitions (M&A) activity so far this year, setting the transactions market on course for the best start to the year since 2007. According to data compiled by Bloomberg, the total M&A transactions through June were worth around US$132 billion, the highest value for a first half since the US$156.5 billion recorded in H1 2007. Energy deals dominated the M&A market this year, for a total value…

27 июня, 18:36

This Oil Giant Just Landed India’s Largest Foreign Investment Deal Ever

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I wrote late last year about an unusual trend emerging in oil and gas M&A. Namely, a wave of outgoing global investment from E&P firms in Russia. And news this week confirmed that Russia is on the rise when it comes to global petroleum deals. Russian petro-major Rosneft announced that it is near closing on one of its biggest acquisitions ever: India’s Essar Oil. With the company’s CEO, Igor Sechin, telling shareholders at the annual general meeting that one of the last hurdles to the mega-deal has now been removed. Sechin noted…

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27 июня, 18:30

Deloitte: Oil Firms Face Increasingly Sophisticated Cyber Attacks

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Contrary to popular belief that the oil and gas industry is not among the top targets of hackers, energy was the second-most prone industry to cyber-attacks last year, with almost three-quarters of U.S. oil and gas companies going though at least one cyber incident, consultancy Deloitte said in a report released on Monday. The growing data connectedness and digitalization of operations with digital oil fields and smart fields have “opened up an altogether new landscape of attack vectors for hackers by connecting upstream operations in…