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December 13, 2017
Major North Sea pipeline system down for weeks
Washington (UPI) Dec 12, 2017
It's too soon to say how quickly repairs to a major oil pipeline system in the North Sea are made, but it may be a matter of weeks, the operator said. Brent crude oil prices went up 2 percent during Monday's session after pipeline operator Ineos shut down the Forties crude network in the North Sea after discovering a "hairline crack" on a pipe near Aberdeen, Scotland, last week. The system carries about 40 percent of the oil produced in the British waters of the North Sea, or about 450,000 barr ... read more

Big Australian oil prospect draws interest from majors
Australian energy company Santos and French supermajor Total may be on board with funding for one of Australia's biggest oil and gas prospects, a partner said. ... more
Eni: More oil offshore Mexico than originally estimated
Italian energy company Eni said Tuesday the results of a well off the coast of Mexico meant it could raise its oil reserve estimate by more than 40 percent. ... more
Exxon to disclose climate policy impact on business
ExxonMobil, the world's largest publicly-traded oil company, bowed to investor pressure and will soon begin disclosing how policies to combat climate change could impact its business, according to a document filed with US regulators. ... more
Gas prices even for now, but British pipeline problem could change that
Retail U.S. gasoline prices are holding steady, but it remains to be seen how much of a spike to expect from a British pipeline outage, an analyst said. ... more
Investors turn against fossil fuels at Paris climate summit
Major investors vowed Tuesday to move away from Earth-warming fossil fuels as world leaders met in Paris seeking to unlock new cash to save humanity from climate "doom". ... more
World Bank to stop financing oil, gas projects from 2019
The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to clean energy. ... more
Oil prices settle down, but still higher on North Sea outage
The perfect storm of a healthy appetite from China, a decline in global inventories and a major North Sea pipeline outage sent oil prices higher on Tuesday. ... more
One dead after explosion at Austrian gas facility
Austrian energy company OMV confirmed Tuesday there was an explosion on the grounds of a gas storage facility in Austria that left one person dead. ... more

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OPEC in June to consider way out of production deal
A decision to start reviewing the way out of an OPEC-led agreement on oil production cuts doesn't mean the deal is over, an analyst said Monday. ... more
Chinese thirst, U.S. labor sends oil prices higher early Friday
An oil-thirsty China and short-term improvements in U.S. labor figures helped put crude oil prices in solid rally territory early Friday. ... more
After Wintershall merger, Russia says Nord Stream ready to go
There are enough contracts in place to start construction on expansions to the twin Nord Stream gas pipeline through the Baltic Sea, Russia's Gazprom said. ... more
China reaffirms Venezuela ties after Sinopec lawsuit
China said Friday that it "attaches great importance to the development of China-Venezuela relations" after a US subsidiary of the Chinese state-owned oil giant Sinopec sued its Venezuelan counterpart. ... more
Saudi Arabia hails Iraq victory over IS
Saudi Arabia on Sunday hailed Iraq's defeat of the Islamic State group, calling it a "grand victory on terrorism" amid warming ties between the Arab neighbours. ... more
Shale-rich Oklahoma to try again on closing a budget gap
State leaders are called to a special session starting Dec. 18 to address the shortfall in the budget for the current fiscal year, Oklahoma's governor said. ... more
One dead in North Sea oil rig accident
One person is dead and another is injured following an accident at a drilling rig on an oil field in Norway's waters of the North Sea, Aker BP said Friday. ... more
Iran's Rouhani sees major economic growth next year
Iran's President Hassan Rouhani promised high economic growth as he laid out next year's budget on Sunday, despite uncertainty over whether the United States will pull out of the nuclear deal. ... more

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Military Space News, Nuclear Weapons, Missile Defense
Kim vows to 'win victory in the showdown' with US

US urges talks with North Korea 'without preconditions'

Don't sleepwalk into war over N. Korea, warns UN boss

Jet-powered drone tested by BAE Systems

Dutch police ground drone-fighting eagles

Lockheed Martin tapped to provide cyber security support

US to send cyber soldiers to the battlefield; 3 plead guilty in botnet attack

Oil prices rise on extended market optimism
Crude oil prices continued to show modest gains in early Monday trading, even after sentiment and data show a potential for more U.S. oil on the market. ... more
North Sea field still down after Friday fatality
There's no date set for the resumption of production from the Tambar field in the North Sea following a fatal accident last week, the operator said. ... more
Oil price increase spikes PPI for Norway
An increase in crude oil prices in November and a declining currency value against the U.S. dollar led to some inflationary pressures, Norway's government said. ... more
First LNG cargo ready to leave the Russian Arctic
French supermajor Total said Friday the first cargo of liquefied natural gas is leaving an Arctic facility in Russia, one of the largest in the world. ... more
More oil expected from Kurdish territory in Iraq
The completion of testing at a third production well in the Kurdish north of Iraq means oil production is expected to triple, Norwegian oil company DNO said. ... more
Eni gets okay to bring Barents Sea oil field back into service
Italian energy company Eni can bring its Goliat field in the Barents Sea back online now that it has addressed safety concerns, a regulator said. ... more
ruler names son defence minister in new cabinet
The Kuwaiti ruler swore in a new government on Monday, handing the defence ministry to his eldest son and appointing new oil and finance ministers. ... more
Canadian oil closer to getting out of North America
A Canadian city at the center of the debate over the overhaul of the Trans Mountain oil pipeline said a construction permit was an example of federal overreach. ... more
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