Watching Government: Venezuelan uncertainties

Venezuela's turmoil shows no signs of being resolved anytime soon, two speakers agreed during an Oct. 14 discussion at the Inter-American Dialogue in Washington, DC. They said indications that some of the current top officials at state-run Petroleos de Venezuela SA (PDVSA) are trying to be more pragmatic with foreign partners may be the only recent encouraging development.

Nick Snow
Oct 24th, 2016
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Personnel Moves & Promotions
Rain appointed interim CEO of PetroShale

David Rain was appointed interim chief executive officer of PetroShale Inc. while a search is held for a permanent replacement for Mike Wood, president and chief executive officer, who has left the company to pursue other opportunities.

OGJ editors
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Companies
Seplat to acquire Nigerian producer Eland

Seplat Petroleum Development Co. PLC, Lagos and London, has agreed to buy share capital of Eland Oil & Gas, an independent oil and gas company focused on Nigeria and based in Aberdeen, for £382 million cash.

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Government
EPA makes supplemental proposal on calculating renewable fuel volumes

The US Environmental Protection Agency sought additional comments to establish cellulosic biofuel, advanced biofuel, and total renewable fuel volumes for 2020 and the biomass-based diesel volume for 2021 under the federal renewable fuel standard (RFS).

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Economics & Markets
MARKET WATCH: Crude oil benchmarks fall on global growth concerns

Light, sweet crude oil prices dropped below $53/bbl on Oct. 15 on the New York market while Brent crude oil prices settled under $59/bbl on concerns about global growth.

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Oct 16th, 2019
General Interest
Lukoil enters UAE with 5% Ghasha interest

Lukoil has entered the United Arab Emirates by signing an agreement with Abu Dhabi National Oil Co. to acquire a 5% interest in the Ghasha Concession offshore Abu Dhabi.

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Oct 15th, 2019
General Interest
Aramco, Gazprom Neft sign joint-study MOU

Saudi Aramco and Gazprom Neft have signed a memorandum of understanding to exchange technical knowledge for oil applications and identify technical studies of interest to both companies.

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Economics & Markets
MARKET WATCH: Crude oil benchmarks fall as trade talk details fall short

Oil benchmark prices on Oct. 14 slipped from gains made on Oct. 11 with light, sweet crude oil prices on the New York market and Brent crude oil prices in London both falling more than $1/bbl.

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Companies
Neptune to buy interests off UK and Norway

Neptune Energy has agreed to buy Edison Exploration & Production’s upstream assets offshore the UK and Norway from Energean Oil & Gas, which has a conditional agreement to acquire Edison E&P.

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HSE
California laws aim to cut fossil fuel use

California has six new laws that Gov. Gavin Newsom says makes the state “a leader in the fight to transition away from fossil fuels.” The law responds to moves by the Trump administration to boost federal oil and gas leasing in the state.

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Companies
Santos buys ConocoPhillips northern Australia assets

Santos signed a deal to buy the northern Australian assets of ConocoPhillips for $1.39 billion. In addition, Santos will pay a further $75 million contingent on a final investment decision being taken on the Barossa gas field development in the Timor Sea.

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