NrgEdge Editor

Sharing content and articles for users
Last Updated: November 29, 2017
1 view
Business Trends

Market Watch

Headline crude prices for the week beginning 27 November 2018 – Brent: US$63/b; WTI: US$58/b

  • All eyes on OPEC as its convenes in Vienna on November 30; an extension of the supply cuts is expected, but there could be surprises
  • Iran claims a ‘majority of OPEC members’ support extending the current production freeze
  • Saudi Arabia has signalled that it prefers oil to trade at US$60/b, while an OPEC working panel has concluded that oil markets will only begin rebalancing in June 2018 at the earliest
  • However, internal squabbles over exact metrics used to measure and monitor production continue within OPEC; Iraq will be important to watch here as its monthly production has swung widely over the last six months as it moved from clashes in Kirkuk to bumper output
  • TransCanada admits spill from the Keystone pipeline were more ‘severe than expected’ but has restarted pumping at reduced pressure
  • US crude inventories fell, particularly in Cushing as the closure of the Keystone pipeline reduced inward shipments. Gasoline and distillate stockpiles rose slightly.
  • Active US rig count up by 8, with 9 new oil sites offsetting loss of a single gas rig. Gains mainly focused in the Permian
  • Crude price outlook: Crude prices to maintain holding pattern until OPEC meeting. Extension of supply freeze expected, but unlikely to be enough to satisfy aggressive expectations. Prices likely to move into December at US$61/b (Brent) and US$56/b (WTI)

Headlines of the week


  • Iraq announced a new exploration bidding round, targeting international participation. Nine blocks are on offer; five near border areas with Iran, three near Iraq’s Kuwaiti border and a single offshore block.
  • Despite a spill that may take ‘several weeks’ to fully clean up, TransCanada has restarted the Keystone pipeline at reduced pressure.
  • BP continues its gradual pullout from the UK North Sea, selling its stakes in the Bruce, Keith and Rhum fields to Serica UK for £300 million.
  • As Shell departs Iraq’s giant Majnoon field, the competition to be its replacement heats up with BP and Eni being the latest to express interest.
  • Australia E&P player FAR announced that its offshore blocks A2 and A5 in West Africa’s Gambia potentially hold up to 1.1 billion recoverable barrels. Drilling at the blocks begins in late 2018.
  • Colombia’s Ecopetrol announced a US$3.5-4 billion investment plan for 2018, focusing on maintaining domestic production at 715-725,000 b/d.
  • India’s ONGC Videsh has acquired a 15% stake in Block 20212A offshore Namibia from Tullow Oil, after buying a 30% stake in Block PEL0037 (also from Tullow Oil Namibia) last month.
  • Shell Canada and Syncrude have both issued warnings that their synthetic crude output will see drops over November and December. Little impact is expected as it comes during a quiet period for Canadian oil sands.
  • Changes in the UK’s taxation scheme have been welcomed by the North Sea oil industry, particularly the sharp drop in North Sea corporate tax rate and adjustments to encourage redevelopment of older assets.


  • South Africa has issued a request to its fellow BRICS nations to assist in building a new US$10 billion 400 kb/d refinery, as net imports rise.
  • As PDVSA manages its (missed) debt payments to ONGC Videsh, IndianOil Corp is considering a plan to buy Venezulean crude for the first time in six years, fitting into the recent upgrade at IOC’s 300 kb/d Paradip refinery.
  • Rosneft has inked a supply deal with Greece’s Motor Oil Hellas Corinth Refineries, supplying up to 150 kb/d of crude and fuels over five years.

Natural Gas/LNG

  • As the Gas Exporting Countries Form (GECF) gathers in Bolivia, Qatar issued a warning that it expects the current LNG glut to grow significantly over the next 2-3 years, tightening only after 2025.
  • After purchasing spot US LNG cargos, Poland has signed its first mid-term US LNG deal. State-run PGNIG has signed up with Centrica for nine LNG shipments across five years, working out to roughly two cargos a year.
  • UK fund Ancala Partners has acquired Apache’s interest in the North Sea SAGE System and Beryl gas pipelines for an undisclosed amount.
  • The Hoegh LNG project in Pakistan has collapsed, after international partners ExxonMobil, Total and Mitsubishi pulled out of the plan to build and operate an FSRU over disagreements with Turkey’s GEI


  • Gulf of Mexico-focused E&P Players Talos Energy and Stone Energy are planning a US$2.5 billion merger. To be named Talos Energy, the new company will be created from 1-for-1 exchange of Stone to Talos shares
  • Thailand achieved its largest corporate IPO in over a decade, as Gulf Energy Development raised some US$733 million from its public sale
  • Despite investment uncertainty over Saudi Arabia’s recent political crackdown, Adnoc is moving ahead with the planned IPO for its fuels distribution unit, seeking up to US$14 billion for a 20% share sale

nrgedge oil and gas news energy
3 0

Something interesting to share?
Join NrgEdge and create your own NrgBuzz today

Latest NrgBuzz

Funko Action Figures: Collectible Figurines

Funko Action Figuresare a popular collectible toy that is now being incorporated into the workplace to motivate employees. The action figures have been used as an alternative to the traditional desk calendar or as a prize for top performers. With this type of incentive, employers can expect their employees to feel more motivated and productive.

Many employers have found that Funko Action Figures are a great way to motivate their employees and provide incentives for high performance at work. Funko Action Figures are a popular collectible toy that is now incorporated into the workplace. These small collectibles are given to employees to motivate them. Funko figures were once only available at comic book stores, but now they are being used in offices for this purpose.

The company is called Zappos and they first introduced this idea back in 2009. They gave these figurines to their employees as a way of motivating and rewarding them for their hard work and dedication. Although it’s not very clear why the action figures themselves motivate people, we can see that it has been working well for Zappos as they have continued to use it since 2009. These soft-bodied vinyl figures, often called "Pop!" Figures were originally conceived by Mike Becker and founded by Alan Becker.

The Funko Pop! Action Figure is a line of collectible toys produced by the company Funko LLC. They are typically stylized vinyl figures depicting characters from various media and entertainment. First introduced to the public in 2005, the company was originally founded as a bobblehead company in 1998 and became popular through distribution at chain retailers such as Walmart and Target. The first wave of Funko Pops was based on Disney properties like Mickey Mouse as well as other popular culture icons such as Conan O’Brien and Catwoman.

Funko Action Figures are collectible figurines that often depict pop culture characters. They are often used in the office to motivate employees and provide a sense of community. Funko has established itself as a major player in the toy industry with its trademarked Pop! vinyl figures. This company is taking on new ventures like collecting by introducing Funko Action Figures, for example, Boba Fett from the Star Wars movies. This type of product is sometimes called a 'blind box' because you don't know which figure you're getting until you open it. The Boston-based company, BuzzFeed, has introduced this type of toy into their office to help with team building and morale. The employees at this company seem to have a lot of fun with them.

May, 25 2022
Asset Works - Fleet Management Software

Asset Works FleetFocus fleet management software is a powerful solution designed to help asset- and infrastructure-intensive organizations control costs and streamline operations. By tracking vehicle location and maintenance history, fleet managers can extend the useful life of their fleet and prevent costly downtime. With preventive maintenance scheduling, work order and labor tracking, and parts and inventory tracking, FleetFocus helps fleet managers maximize efficiency while minimizing expenses. As a result, Asset Works fleet management solutions deliver industry-leading value for fleet managers around the world.

Support: [email protected]

May, 24 2022
Where to buy your Gun Parts from?

It is important to know where to gun parts from. There are many places you can buy them from, but it is important to choose the right place so that you get the best quality and service. There are many places where you can buy gun parts from. You can buy them from gun stores, online retailers, and even at a flea market.

One of the best places to buy gun parts from is Always Armed.They have a wide range of products available, they offer great customer service, and they have convenient shipping options.

Buying gun parts can be a difficult task. There are many different types of firearms and there is a huge variety of gun parts. The right place to buy gun parts depends on what you are looking for and what kind of firearm you have.

If you are looking for a specific part, then your best bet is to search online. You can find the part that you need at an affordable price and it will be delivered right to your door. If you want to save time, then this is the best option for you. If not, then your local gun store might be the best option for you because they have many different types of firearms as well as all kinds of other equipment that might come in handy for hunting or shooting sports.

When it comes to buying gun parts, you need to be very careful. There are a lot of scams out there and some companies just want to take your money and never send you the goods. 

May, 20 2022