The US House of Representatives approved tax reform legislation Nov. 16 in a 227-205 vote as 11 Republicans joined Democrats in opposing the bill. “We’ve got a long road ahead of us, and we have a timeline to get this done by the end of the year,” Speaker Paul D. Ryan (R-Wis.) said after the […]

Premier Oil PLC expects to lower its $2.8-billion debt after Catcher oil field in the North Sea comes on stream in December, executives recently said. Premier reported third-quarter earnings included $2.8 billion of debt, but analysts say the London independent oil company could reduce debt to $2.6 billion by Dec. 31. Source: News

Rosneft, a member of the Sakhalin-1 consortium, reported the completion of a 15,000-m horizontal well from Orlan platform in Chaivo field in the Sea of Okhotsk. It’s the world’s longest well, Rosneft said. Source: News

TransCanada Corp. shut down its Keystone pipeline at about 6 a.m. CST Nov. 16 after a pressure drop was detected in its operating system resulting from an oil leak that is now under investigation. The estimated volume of the leak is 5,000 bbl. The section of pipe along a right-of-way roughly 35 miles south of […]

OMV AG has joined a joint venture of automakers committed to building a network of fast and powerful charging stations for electric vehicles in Europe. The joint venture, IONITY, includes BMW Group, Daimler AG, Ford Motor Co., and Volkswagen Group. OMV joins as a strategic partner.   Source: News

The Norwegian government has been advised to shed equity holdings in oil and gas companies from its sovereign wealth fund, the world’s largest. In a letter to the Ministry of Finance, officials of Norges Bank cited the amplified vulnerability of the government’s wealth to oil-price risk. Source: News

Light, sweet crude oil futures dropped to approach $55/bbl on the New York market Nov. 16 during a week in which the US benchmark declined nearly daily, but crude prices gained in early Nov. 17 trading. Source: News