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All the latest in Oil, Gas, Commodity news and analysis

The Global Cannabis Market Is Set To Explode
by Ian Jenkins
22 Jul 2018 at 4:30pm
As the global marijuana industry booms, one little company has just hit a huge payday. Scythian Biosciences Corp. (TSXV: SCYB.V; OTC:SCCYF) is a tiny company with a big secret: a way to turn cannabis assets across the world into investments worth hundreds of millions. The company is making a transition from biosciences to investment, and it?s just struck it rich. Scythian has accomplished a huge coupe: it?s agreed to sell its assets in Jamaica and Latin America to Aphria, the marijuana giant, for $193 million. That?s because weed?

Is The Oil World In Panic Mode?
by Dan Dicker
22 Jul 2018 at 4:00pm
Oil markets have shown tremendous weakness in recent days, losing nearly seven dollars before rallying back a bit on Thursday. What?s causing it? Market analysts have been struggling to find a single reason for it, preferring to cite a cocktail of negative news and rumor to explain the downdraft. There have been reports of increased Saudi production to Asian customers, which many cite as a breaking of the dam of OPEC production guidelines ? a break that would have many in the oil world in full panic mode. But I don?t see these?

IEA: World Is Not Spending Enough On Energy
by Nick Cunningham
22 Jul 2018 at 2:00pm
Global energy investment fell by 2 percent in 2017, the third consecutive year of a decline, according to the International Energy Agency, which sounded the alarm this week, warning that the world is not spending enough on energy. ?The overall trend of energy investment remains insufficient for meeting energy security, climate and air quality goals, and is not spurring an acceleration in technologies needed for the clean energy transition,? IEA executive director Fatih Birol said in a statement. Global spending stood at USD$1.8 trillion?

India And China Could Mitigate Damage For Iran
by Nick Cunningham
22 Jul 2018 at 12:00pm
How much oil from Iran will be disrupted because of U.S. sanctions? American officials have gone back and forth on this, but many of the people who decide how much Iranian oil will be knocked offline are located in India and China. In recent months, both India and China each purchased more than 600,000 bpd from Iran. Together, that amounts to about 60 percent of Iran?s oil exports, which makes them hugely important to the efficacy of U.S. sanctions. It is unclear which way India will go. Because of its proximity, and its growing thirst for?

Saudis To Invest $10B In South Africa?s Energy Sector
by Julianne Geiger
22 Jul 2018 at 10:00am
Saudi Arabia has pledged to chip in $10 billion in funds to South Africa?s ailing power sector, according to a South African government spokesperson cited by CNBC. The funds will be used to build refineries for one and will also be used to advance petrochemicals and renewable energy projects in the developing economy of South Africa. The funds can?t come soon enough for South Africa, whose power sector outages likely represent the African nation?s number one problem. In 2016, Oilprice spoke of its ongoing energy crisis that took?

Is The LNG Floating Storage Boom Over?
by Tsvetana Paraskova
22 Jul 2018 at 8:00am
The relatively young industry of projects using floating storage and regasification units (FSRU) has enjoyed boom years since 2015 as many new importers of liquefied natural gas (LNG) used these floating types of carriers that are cheaper than having to build an entire onshore LNG import terminal. But the golden years of the FSRU, the first of which was used in 2005, may be over, at least for now, because the voracious Chinese natural gas demand has upended the LNG market and made less urgent the need for FSRU projects in new and much smaller markets.?

Nord Stream 2's Confusing Endgame
by Vanand Meliksetian
21 Jul 2018 at 4:00pm
The summer of 2018 will go into history as the moment when a US president fundamentally and decisively changed the international world order which its predecessors worked hard on during the past decades. Within approximately a week from 11 July until 16 July, President Donald Trump achieved to insult its key allies in Europe and fundamentally undermine NATO and the EU, while cozying up to what seems to be the most important adversary of the West. While this week will go into history as an arduous one for the presidency of Trump, for President Vladimir?

UK Natural Gas Production Falls As Usage Climbs
by Ron Patterson
21 Jul 2018 at 2:00pm
UK C&C It was expected by many, me included but more importantly UKOGA and a couple of the bigger oil and gas consultancies, that UK offshore oil production would increase significantly from 2017 to exceed 1000 kbpd for the yearly average in 2018. So far this is proving a bit of a challenge. March production was 934 kbpd, down 7 percent m-o-m and 2 percent y-o-y (but up 0.8 percent for the first quarter compared with 2017). It?s possible that some fields have not reported but those showing zero for the month are not big producers. The?

Ukraine?s Natural Gas Transit Woes May Be Easing
by Viktor Katona
21 Jul 2018 at 12:00pm
Despite significantly weakened interest towards internal political dealings in Ukraine itself, the issue of Ukraine?s gas transit remains a much-debated issue of the European energy community (understandably, since European countries want to make sure a viable solution is found for Russian pipeline gas supplies). Ukraine?s gas transit was even on the tapis during the recent Putin-Trump talks in Helsinki, where the Russian president assured his counterpart that Moscow would keep the transit route even after 2019, when the current 10-year?

Iraq Orders Internet Blackout To Quell Protests
by OilPrice.com
21 Jul 2018 at 10:00am
As southern Iraq reels from snowballing protests that threaten oil facilities at a critical political weak point, the outgoing prime minister is taking dangerous measures to stop them, including aggressive use of security forces and cutting internet access that could cost the country $40 million a day. The Iraqi central government has imposed a full internet shutdown across the southern provinces of Iraq, including Baghdad and oil-rich Basra in an attempt to prevent a further escalation of protests, and to make it more difficult for protest?

What Is Behind Tajikistan?s Skyrocketing Fuel Prices?
by OilPrice.com
21 Jul 2018 at 8:00am
One of the most popular means to get around Tajikistan?s capital is the ?three-somoni taxi,? named for the set price of the fare. No more. It will be five-somoni taxis from now ? the direct result of a recent dramatic spike in the cost of car fuel and an opaque fuel-import market dominated by a relative of the president. The taxi business has been a lifeline for a huge number of Tajikistan?s unemployed, like Nozim Subhonov, 30. For the past year, Subhonov has been picking up a maximum of four people at a time in his?

US Oil To The Rescue As Italy Runs Short On Libya/Iran Challenges
by Julianne Geiger
20 Jul 2018 at 6:00pm
Libya?s oil disruptions would normally wreak havoc in Italy?one of Libya?s top oil consumers?but the United States is serving as a pinch hitter in the wake of civil unrest in the troubled African nation. Trade flow data from Thomas Reuters and Kpler shows that Italy?s imports of US crude spiked as Libya struggled to ship oil under force majeure in recent months. In June, Italy imported a record 4.93 million barrels of crude oil from the United States, or 165,000 barrels per day, according to Kpler. That represents?

Oversupply Concerns Plague Crude Markets
by Jim Hyerczyk
20 Jul 2018 at 4:00pm
September West Texas Intermediate crude oil futures are in a position to close lower for the week despite clawing back most of its weekly loss since Wednesday. The price action suggests investors are trying to find a point on the chart to balance concerns about oversupply and lower demand with the possibility of reduced exports from the Middle East and dwindling spare capacity. The week started with a steady opening tied to worries over strikes in Norway and Iraq disrupting supply, but sellers quickly took care of that by driving prices sharply?

Venezuelan Ambassador: Saudis Don?t Have Enough Spare Capacity
by Julianne Geiger
20 Jul 2018 at 4:00pm
Despite its supposed promise to the United States to ramp up its oil production in the face of a tightening oil market, Saudi Arabia does not have the capability to ramp up its oil production to the tune of 2 million barrels per day, according to Venezuela?s Ambassador to Iran, Gregorio Gonzalez, in a statement to MEHR News Agency on Friday. Saudi Arabia had assured President Donald Trump in early July that it could raise oil production if necessary, stating that it had sufficient spare capacity to bring online an additional 2 million barrels?

Global Energy Advisory July 20th 2018
by Editorial Dept
20 Jul 2018 at 4:00pm
Trump wanted lower oil prices prior to Iran sanctions and US midterm elections. He?s got them. It?s been a rough ride for oil prices this week?culminating in the third-straight decline. And we can get back to the real fundamentals here: The trade war is causing demand to slow in both the US and China. Now, OPEC is saying that exports next month will be slowed a bit. The Saudis say exports will drop by 100,000 bpd next month to hedge against oversupply?a factor that slightly stabilized oil prices on Friday. The one-week picture?

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