Saturday, November 30, 2024

Oilservice Majors: Look for a Delayed Oil Price Recovery (But One IS Coming!)

Forecast Pushed Back in 2016 Earnings season is underway, but you’d have a hard time believing we’re in the first week of quarterlies judging from a headline from Bloomberg this morning. It reads, “$6.5 Billion in Energy Writedowns and We’re Just Getting Started.” Investors and executives in search of good news didn’t get any from the industry’s two oil service

Feedstock Tax Barrier Removed by India Government Allowing Rapid Expansion of Biodiesel

Aemetis, Inc. (NASDAQ: AMTX), an advanced renewable fuels and biochemicals company, announced that the Government of India Revenue Department removed an important tax barrier to expanding biodiesel production in India, issuing an exemption on excise tax for feedstock. Biodiesel is a non-excise product, but a 12.5% tax had been charged on all feedstock and other inputs. The removal of the “inverted excise

Nighthawk Targets Waterfloods in the DJ

Nighthawk provides an update on its drilling program in the DJ Basin Nighthawk Energy (ticker: HAWK.L) released an operational update on its drilling program in the Denver-Julesburg (DJ) Basin. According to the press release from Nighthawk, the company is currently in the process of filing for approval of its planned Arikaree Water Flood Project with the Colorado Oil and Gas

Russia Offers Gas, Oil Swap Deals to Iran

MOSCOW (Reuters) – Russian Energy Minister Alexander Novak said on Friday Kremlin-controlled gas producer Gazprom has offered gas supplies to Iran under a swap arrangement, and similar oil deals were also under consideration. Moscow has boosted efforts to foster political and economic ties with Tehran and increased its activity after a decision in July to lift international sanctions on Iran

DOI Confirms Authority over Service Contractors on the Outer Continental Shelf

U.S. Department of Interior Board of Land Appeals Affirms BSEE’s Assertion of Authority over Contractors on the OCS 10/23/2015 FROM: Haynes and Boone The Interior Board of Land Appeals (“IBLA”) has issued its long awaited decision on an appeal by an offshore service contractor challenging the authority of the Bureau of Safety and Environmental Enforcement (“BSEE”) to issue a citation