Despite pressure from OPEC to cap its oil production, the Iraqi government can neither afford a production cut nor enforce it upon the Kurdistan Regional Government. Under tremendous fiscal pressure, OPEC members may cut a deal in Vienna this week that would cap oil production in order to raise global prices. The deal is being… Keep reading →
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We will never sell or share your information without your consent. See our privacy policy.The success of Riyadh’s new economic policy will partly depend on changes in social and political attitudes, as well as greater transparency on legal and other issues. In 1984, a British ambassador departing Saudi Arabia at the end of his tour wrote a “valedictory telegram” defining the kingdom in terms of three “I’s” — Islam,… Keep reading →
Oil Price Turbulence Benefits The Opportunistic
By Simon Tysoe | Latham & Watkins LLPHouston: We Have Another Problem
By Environmental Defense Fund Energy Exchange BlogAs oil and gas leaders converge on Houston for the year’s largest industry conference, CERA Week, falling oil and gas prices are understandably top of mind and a cause for concern for the industry. But there is another decline story underway in industry, one that poses a risk to the future of hydrocarbons in a… Keep reading →
Energy News Roundup: UAE Minister Denies Production Cap, NATO Energy Summit & Devon Announce Layoffs
By Conor O'SullivanThe UAE energy minister refused Wednesday to discuss a proposed cap to crude oil production agreed to by four oil-producing countries the day before, raising new questions about the proposal aimed at stabilizing global prices. [ABC] In a meeting with external experts, NATO ministers discussed global energy developments and their security implications. [NATO Press Release]… Keep reading →
The Oil Bust…Bankruptcy Boom?
By Edward Arnold, Jan Hayden | Baker DonelsonEnergy News Roundup: Shell Complete BG Deal, Senate Begin Energy Debate & Russian OPEC Claims
By Conor O'SullivanBG Group PLC’s shareholders on Thursday signed off on Royal Dutch Shell PLC’s roughly $50 billion takeover bid for the company. [WSJ] The Senate has started debating its first comprehensive energy legislation since the George W. Bush administration, a bipartisan measure meant to update the nation’s power grid and oil and gas transportation systems. [The… Keep reading →
Oil and Gas Companies Utilize Restructuring Strategies To Navigate Industry In Flux
By Frank Bayouth, K. Kristine Dunn, Michelle Gasaway, Jessica Kumar, Ron E. Meisler, George Panagakis | Skadden, Arps, Slate, Meagher & Flom LLPEnergy News Roundup: E.ON Drop Prices, Iran Bemoans Sanctions & OPEC Crisis Summit
By Conor O'SullivanEnergy firm E.On has announced a 5.1% reduction in its standard gas price for residential customers. [BBC News] In an AP interview, Iran’s foreign minister is decrying what he calls the United States’ “addiction to coercion” with its new sanctions against Iran over ballistic missile tests. [ABC/AP] The oil price slump below $30 barrel is… Keep reading →
Energy News Roundup: Saudis Isolated, AEP Withdraws Funding & El Nino Adding To Oil Woes
By Conor O'SullivanSaudi Arabia stood accused on Tuesday of trying to wreck the Paris climate summit in order to protect its future as one of the world’s largest oil producers. [The Guardian] The American Legislative Exchange Council has suffered the loss of another major corporate sponsor with American Electric Power announcing it will no longer provide the… Keep reading →