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Saudi Arabia and Russia Seen Forging Business Alliances #OilmanNEWS 2017 November-December Upstream 

Saudi Arabia and Russia Seen Forging Business Alliances

Two of the world’s largest oil-exporting countries, Russia and Saudi Arabia, have been forging a sort of professional relationship in recent years, despite previous indicators that they would not work together. Most recently, Saudi Aramco indicated that it plans to sign multiple Memoranda of Understandings with certain Russian companies. “There are significant opportunities in a number of these areas for collaboration between... Read More
Louisiana LNG Export Facility Secures Second Substantial Deal #OilmanNEWS 2017 November-December Louisiana 

Louisiana LNG Export Facility Secures Second Substantial Deal

A liquefied natural gas (LNG) exporting plant currently under construction in Cameron Parish, Louisiana, is now part of an agreement to supply 1 million metric tons of LNG per annum, or 1.4 billion cubic meters of natural gas per year, to a European electrical firm. Venture Global Calcasieu Pass, LLC, the firm developing the Calcasieu Pass LNG export facility, recently released a statement detailing a 20-year agreement with... Read More
ExxonMobil Dethroned as the Number-One Ranked Energy Company: S&P Global Platts #OilmanNEWS 2017 November-December Upstream 

ExxonMobil Dethroned as the Number-One Ranked Energy Company: S&P Global Platts

A Russian global energy behemoth has surpassed Exxon as the number one energy firm according to the S&P Global Platt’s Top 250 Global Energy Company Rankings. The 16th annual issuance of Platt’s Energy Company Rankings placed Russian firm Gazprom in the number one slot, displacing the U.S.’ ExxonMobil from the spot which it had previously occupied for 12 years. Companies... Read More
$400 Million Project Planned for Oklahoma East STACK Play #OilmanNEWS 2017 November-December Oklahoma 

$400 Million Project Planned for Oklahoma East STACK Play

Oklahoma-City based Tall Oak Midstream III, LLC announced on September 19 that it is building a natural gas gathering system in Oklahoma’s East STACK play, the next large project which is part of a series of investments the firm has dedicated to developing its prospects in the region. Tall Oak III was formed two months ago with financial backing of... Read More
Jim Chanos is Short on Shale #OilmanNEWS 2017 November-December Shale Upstream 

Jim Chanos is Short on Shale

During the world-renowned Delivering Alpha conference in New York, Jim Chanos announced that his company Kynikos Associates was short on multiple U.S. Shale oil producers. Being “short” means that an investment firm is betting that the current valuation of a company is too high and that the price of the stock will eventually fall to match a more realistic valuation. Kynikos... Read More
Magellan and Valero Announce Joint Storage Facility in Texas #OilmanNEWS 2017 November-December Texas 

Magellan and Valero Announce Joint Storage Facility in Texas

Magellan Midstream Partners, L.P. and Valero Energy Corporation announced on September 14 that they would be working together to expand and develop the marine storage facility along the Houston Ship Channel in Pasadena Texas. Ownership of the facility will be split 50/50 between Magellan and a Valero subsidiary, and it is expected to have a storage capacity of five million barrels... Read More
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