US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 3.4 million bbl from the previous week’s average, according to the US Energy Information Administration’s latest Petroleum Status Report. Source: News
MARKET WATCH: NYMEX oil prices volatile on Canada, Libya, Nigeria production issues
Light, sweet crude prices gained more than $1/bbl, reversing losses from the day before, in volatile trading as analysts and traders weighed the consequences of various production outages worldwide against lingering oil oversupply levels. Source: News
European approach to climate helps explain Trump win
Anyone baffled by Donald Trump’s success might find enlightening a message from Europe delivered at the Brookings Institution in Washington, DC, on May 3. Source: News
Pferdehirt appointed CEO of FMC Technologies
Douglas J. Pferdehirt has been named president and chief executive officer of FMC Technologies Inc. effective Sept. 1. Source: News
Matthews, Wheatley named co-heads of TPH & Co. Canadian unit
Richard Matthews and Derek Wheatley have been named co-heads of Canada for Tudor, Pickering, Holt & Co. Securities-Canada. Source: News
Al Kaabi becomes UAE’s OPEC governor
Ahmed Mohammed Al Kaabi has been named UAE’s governor for the Organization of Petroleum Exporting Countries (OPEC). Source: News
Book examines links between energy, North American economic growth
More closely coordinated Canadian, Mexican, and US government policies may have a bigger impact than energy technology breakthroughs on North America’s future economic growth, speakers generally agreed May 10 during a discussion at the Woodrow Wilson International Center for Scholars. Global market integration potentially could be more beneficial than exploiting regional advantages caused by lower […]
Avdeev named CFO for DEA Deutsche Erdoel
Dmitry Avdeev has been named chief financial officer for DEA Deutsche Erdoel AG, Hamburg, effective Aug. 1. Source: News
Chaparral Energy files For Chapter 11 protection
Midcontinent independent Chaparral Energy LLC, Oklahoma City, reported it has voluntarily filed petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court of Delaware. Source: News
EIA revises inventory build forecasts downward
In its Short-Term Energy Outlook for May, the US Energy Information Administration estimates that global petroleum and other liquid fuels inventory builds will average 1 million b/d in 2016 and 200,000 b/d in 2017 compared with the average of 1.4 million b/d in 2016 and 400,000 b/d in 2017 forecast in last month’s STEO. […]