Posted on

The Top O&G News Stories – Monday Nov 21 2016

(Source: Oilpro Daily)

It is 8am in Houston, 2pm in London, 6pm in Dubai and 10pm in Singapore. And here are the top O&G news stories for today, Monday, Nov. 21, 2016.

Oil Prices Trending Back Up. Hopes continue to mount with a boost from a weaker dollar and a looming production cut.

Rowan And Saudi Aramco Join Forces. Rowan will be provide three jack-up rigs and Saudi Aramco two, and both companies will contribute $25 million in working capital with more to come through 2018.

Iraq to Raise Hand At OPEC Meeting. Iraq’s oil minister announced that it will have suggestions — and they probably don’t include a contribution to an output cut — at the next OPEC meeting on Nov. 30.

Bets Are Big In Oil. Between the U.S. elections and oil volatility, higher bets are being placed on U.S. West Texas Intermediate.

Papua New Guinea Still Feeling Heat Over LNG Project. Landowners are still unhappy over government officials allegedly not keeping up with their end of the bargain for the country’s LNG project.

ConocoPhillips Moves On From Nikiski. The world’s largest E&P company continues to pull away from the Alaska LNG Project, but says the local economy won’t be affected, for now, at least.

North Sea Decommissioning Bill On Taxpayers Plates? The removal of rigs in the North Sea could mean taxpayers would pay between 50 and 75 percent of a £100 billion bill.

More Pipelines in Canada? Kyle Bakx with CBC asks: “Do we really need more oil pipelines in Canada?

Putin Feels Good Vibes On OPEC Deal? The Russian president said there is “no difficulty” for his country to freeze production and that there is a strong likelihood the OPEC agreement will be achieved.

Aramco Looks To Petrocehmicals. Saudi Aramco is getting “an unprecedented makeover” as the oil giant makes moves on petrochemicals for its future.