Exxon Faces Fine for Russian Dealings Under Sanctions #OilmanNEWS 2017 September-October Upstream 

Exxon Faces Fine for Russian Dealings Under Sanctions

The U.S. Treasury Department has levied a $2 million fine against Exxon Mobil Corp. for violating U.S. sanctions which barred companies from dealing with Russia, Bloomberg reports. The sanctions were put into place when the present Secretary of State, Rex Tillerson, was the CEO at Exxon. Sanctions were enacted due to Russian infringing on Ukraine’s sovereignty by invading into part… Read More
Shale Drilling in Texas Provides Mixed Bag of Wealth and Environmental Changes #OilmanNEWS 2017 September-October Texas 

Shale Drilling in Texas Provides Mixed Bag of Wealth and Environmental Changes

An industry as large as the U.S. oil industry can have a lasting effect on a state’s economy. For Karnes County, Texas, the shale oil industry provided wealth, power, and an increase in population. Formerly a location filled with ranchlands and fields, Karnes County has become the leading producer of shale oil in Texas. In September 2016, Karnes County pumped… Read More
Russia Ran Campaign Against U.S. Oil, Gas Activity #OilmanNEWS 2017 September-October Alex Mills Contributors 

Russia Ran Campaign Against U.S. Oil, Gas Activity

Russia has been in the news just about every day this year. The top news story recently involves Russia’s involvement in the 2016 Presidential elections, which was highlighted in a Jan. 6 report issued by the Office of the Director of National Intelligence. The declassified version of the report, entitled “Assessing Russian Activities and Intentions in Recent U.S. Elections,” included an analytic… Read More
IEA Data Shows Electricity Investment Outpaced O&G Investment in 2016 #OilmanNEWS 2017 September-October Upstream 

IEA Data Shows Electricity Investment Outpaced O&G Investment in 2016

The International Energy Agency (IEA) announced on July 12 that a significant shift in energy-investment patterns had occurred in 2016. According to the organization’s data, for the first time, electricity for the surpassed oil and gas in terms of total investment. The transfer of investment funds represents a continually unstable oil market which has been defined by an excess of… Read More
#OilmanNEWS 2017 September-October 

Brent and WTI Crude Oil Prices Expected to Average About $50 per Barrel Through 2018

EIA now forecasts Brent crude oil spot prices to average $51 per barrel (b) in 2017 and $52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be $2/b lower than Brent prices in 2017 and 2018. Daily and monthly average prices could vary significantly from this forecast because global economic developments and geopolitical events in the… Read More
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