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December 9, 2020

Wells Fargo CEO Scharf sees swift recovery for US economy in 2021 as vaccines are rolled out- oil and gas 360

Wells Fargo CEO Scharf sees swift recovery for US economy in 2021 as vaccines are rolled out

December 9, 2020

CNBC Wells Fargo CEO Charlie Scharf said Tuesday that the U.S. economy will probably rebound quickly from the coronavirus next year after vaccines are widely distributed. As head of the fourth-biggest U.S. bank by assets, Scharf has a unique view into the saving and spending activity of millions of Americans. Government action at the start of the pandemic was “extremely

Trump administration argues against refiners' biofuel petition- oil and gas 360

Trump administration argues against refiners’ biofuel petition

December 9, 2020

Reuters NEW YORK  – The Trump administration has argued against a petition from oil refiners asking the U.S. Supreme Court to review a lower court decision that undermined the legitimacy of the Environmental Protection Agency’s biofuel waiver program. Department of Justice officials said the court should not review the case as it does not conflict with any other Supreme Court

EnerCom's The Oil & Gas Conference SAVE THE DATE: Live in Denver August 15-18, 2021!- oil and gas 360

EnerCom’s The Oil & Gas Conference SAVE THE DATE: Live in Denver August 15-18, 2021!

December 9, 2020

The Oil & Gas Conference Publisher’s Note: SAVE THE DATE: Live in Denver!  EnerCom’s The Oil & Gas Conference at the Westin Denver Downtown August 15-18, 2021.        2020 Sponsors: Netherland, Sewell & Associates (NSAI) ,  ENVERUS,  CAC Specialty,  Haynes & Boone,  MOSSADAMS, PNC,  Bank of America, Merrill Lynch, Preng & Associates, Rystad Energy, Wells Fargo About EnerCom,

Who will spearhead Biden's climate, energy and agriculture policies?- oil and gas 360

Who will spearhead Biden’s climate, energy and agriculture policies?

December 9, 2020

Reuters WASHINGTON  – President-elect Joe Biden has vowed an overhaul of U.S. energy and environment policy to fight climate change, with a goal of bringing the economy to net-zero emissions by 2050. While the plan has yet to be clearly defined, it includes things like ramping up clean energy technology and usage, reducing dependence on fossil fuels, federal procurement of

Special Report-How oil majors shift billions in profits to island tax havens- oil and gas 360

Special Report-How oil majors shift billions in profits to island tax havens

December 9, 2020

Reuters Bermuda and the Bahamas aren’t exactly big players in the oil-and-gas world. They don’t produce any of the fuels at all. Yet the islands are deep wells of profit for European oil giant Royal Dutch Shell Plc. In 2018 and 2019, Shell earned more than $2.7 billion – about 7% of its total income in those years – tax-free

Canadian oil producer Whitecap to buy TORC Oil & Gas for $430 million- oil and gas 360

Canadian oil producer Whitecap to buy TORC Oil & Gas for $430 million

December 9, 2020

Reuters Canadian oil producer Whitecap Resources Inc said on Tuesday it has agreed to buy rival TORC Oil & Gas Ltd in an all-stock deal valued at about C$552 million ($430.81 million). The collapse in fuel demand due to coronavirus-related lockdowns has hammered energy companies in Canada, the fourth-largest global oil producer, triggering a wave of consolidation and cost-cuts in

Two small Iraqi oil wells set ablaze in 'terrorist attack', ministry says- oil and gas 360

Two small Iraqi oil wells set ablaze in ‘terrorist attack’, ministry says

December 9, 2020

Reuters KIRKUK  -Two wells in a small oilfield in northern Iraq were set ablaze by explosives in a “terrorist attack” on Wednesday but overall production from the field was not affected, the Oil Ministry and officials said Wednesday. The Oil Ministry gave no further details about the assailants behind the explosive devices that targeted the wells in Khabbaz oilfield, 20

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 15.2 million barrels

December 9, 2020

Weekly Crude Oil Storage as of December 4, 2020   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 15.2 million barrels from the previous week. At 503.2 million barrels, U.S. crude oil inventories are about 11% above the five year average for this time of year, according to the EIA crude oil and petroleum

CEO who profited as Hi-Crush spiraled departs as company exits bankruptcy- oil and gas 360

CEO who profited as Hi-Crush spiraled departs as company exits bankruptcy

December 9, 2020

Reuters Robert Rasmus, the founder of oilfield services firm Hi-Crush Inc who profited as the business spiraled into bankruptcy, lost his positions at the firm in a recent restructuring, according to company postings. Rasmus was replaced as CEO last month by Dirk Hallen, former chief executive of oilfield firm Pronghorn Logistics, and was replaced as board chairman by Colin Leonard,

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