December 11, 2020 – Oil & Gas 360

The Energy Venture Investment Summit: SAVE THE DATE: See you on February 10-11, 2021!

December 11, 2020

Oil & Gas 360 Publisher’s Note: SAVE THE DATE! The Energy Venture Investment Summit, on February 10-11, 2021. Registration opening soon. See YOU in February! Due to the pandemic, the conference will be hosted virtually on EnerCom’s proprietary energy news platform, Oil & Gas 360®, targeting more than 25,000 energy professionals and investors. About EnerCom: EnerCom, Inc. is

U.S. producer prices rise moderately; COVID-19 seen taming inflation

December 11, 2020

Reuters WASHINGTON – U.S. producer prices barely rose in November, supporting views that inflation would remain benign in the near term as a flare-up in new COVID-19 infections restrains the labor market and demand for services. While other data on Friday showed a surprise improvement in consumer sentiment early in December, that largely reflected increased optimism among Democrats and Independents

Brazilian prosecutors sue Maersk, seek to freeze $200 million

December 11, 2020

Reuters RIO DE JANEIRO -Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday. The lawsuit requests that a judge freeze almost 1 billion reais ($198 million) in assets in order to make sure funds are

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count increased by 15 this week, at 338

December 11, 2020

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had an increase of 15 over last week, resulting in a total count of 338 rigs. Canada had an increase of 9 over last week, resulting in a total Canadian count of 11 rigs. Breakdown by region Of the regions tracked by Baker Hughes, 6 regions, the

Asset manager group aims for carbon neutral investments by 2050

December 11, 2020

Reuters LONDON (Reuters) – A group of 30 asset managers with more than $9 trillion under management launched the Net Zero Asset Managers Initiative on Friday to help clients ensure their portfolios are carbon neutral by 2050. The group, which includes Schroders and UBS Asset Management, said it would prioritise securing real reductions in emissions at the companies in which

Oil pulls back amid New York coronavirus curbs

December 11, 2020

Reuters NEW YORK -Oil prices turned lower on Friday, as demand worries due to new coronavirus-related restrictions on business in New York overshadowed progress toward vaccination programs. Brent futures fell 20 cents, or 0.4%, to $50.05 a barrel by 12:29 p.m. EST (1729 GMT), after rising above $51 a barrel on Thursday to an early-March high. U.S. West Texas Intermediate

Russia restarts Nord Stream 2 pipeline construction despite U.S. sanctions

December 11, 2020

Reuters MOSCOW – Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions, the pipeline operator said on Friday. The pipeline, which Washington says compromises European energy security, has become a flashpoint in relations between Russia and the West that have sunk to post-Cold War lows.

EU carbon price rises to all-time high after EU climate deal

December 11, 2020

Reuters LONDON – The price of benchmark European Union carbon permits rose to an all-time high above 31 euros a tonne on Friday, after EU leaders reached a deal on more ambitious emissions cuts this decade. The contract rose to 31.30 euros a tonne, its highest since the EU’s Emissions Trading System (EU ETS) was launched in 2005. European Union

Equinor buys 49% stake in Russian oil venture from Rosneft

December 11, 2020

Reuters OSLO – Equinor has agreed to buy a 49% interest in Russian onshore petroleum assets from Rosneft for $550 million, the Norwegian oil company said on Friday. The payment is for a stake in limited liability company LLC KrasGeoNaC (KGN), which holds 12 conventional onshore exploration and production licences in eastern Siberia, Equinor said. One of the 12 licences

Exclusive: Ecuador weighs suit against Vitol in wake of graft revelations, sources say

December 11, 2020

Reuters QUITO/RIO DE JANEIRO – Ecuadorian state-run oil company Petroecuador is weighing a lawsuit against Vitol after the world’s largest oil trader admitted last week to bribing officials in the South American country, according to two sources with direct knowledge of the matter. Petroecuador is working with the nation’s attorney general to assess how much the Vitol-led graft scheme cost

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