Oil & Gas
Top stories summarized by our editors
12/12/2018

The first liquefied natural gas cargo originating from Cheniere Energy's LNG export terminal at the Port of Corpus Christi departed on Tuesday, although the destination remains unclear. "Exporting the first commissioning cargo of LNG from Texas demonstrates Cheniere's ability to deliver projects safely and ahead of schedule, including the first greenfield LNG export facility in the Lower 48 states," said Jack Fusco, Cheniere Energy's president and chief executive.

12/12/2018

The Energy Information Administration expects US oil output in 2018 to grow by 1.53 million barrels per day -- a slightly slower rate than previously forecast -- to a record 10.88 million bpd level that would make the US the top oil producer in the world at the end of the year. Meanwhile, US oil production in 2019 is seen climbing by 1.18 million bpd to average 12.06 million bpd, higher than earlier predictions.

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Reuters
12/12/2018

US crude stockpiles shed 10.2 million barrels last week and gasoline supplies were down by 2.5 million barrels, while distillate inventories increased by 712,000 barrels, the American Petroleum Institute reported.

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MarketWatch
12/12/2018

House Republicans have put forward legislation that would end the ethanol blending requirement in 2032 and replace it with a rule that vehicles built from 2023 forward use only gasoline with a minimum octane rating of 95. A hearing was held Tuesday to discuss the proposal, but the legislation failed to garner the support of representatives from the refining and ethanol industries.

12/12/2018

Environmental groups have filed a lawsuit against the Trump administration in a bid to prevent seismic testing for oil and natural gas exploration in the Atlantic Ocean. The plaintiffs say seismic surveys could have devastating effects on marine life, particularly the endangered North Atlantic right whale.

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The Hill
12/12/2018

Two earthquakes shook parts of Tennessee, North Carolina, Alabama and Georgia this morning, although no damage was reported. A magnitude 4.4 quake occurred about 23 kilometers southeast of Athens, Tenn., and a magnitude 3.3 temblor occurred close to the same location less than 15 minutes later, the US Geological Survey reported.

12/12/2018

Australia-based Australis Oil & Gas has found working hydrocarbon systems at two concessions in Portugal's onshore Lusitanian basin, CEO Ian Lusted says. Drilling in central Portugal's Batalha and Pombal could start in early 2020, pending environmental reviews, and Lusted says the sites could provide enough natural gas to serve Portugal for 30 months.

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Reuters
12/12/2018

Cuadrilla Resources has halted hydraulic fracturing operations at its Preston New Road site in Lancashire, England, for the third time after detecting tremors in Blackpool above the government-set threshold. The British shale gas company, which follows a government rule requiring that work be suspended after the detection of seismic activity registering magnitude 0.5 or higher, says the largest tremor in Blackpool had a magnitude of 1.5.

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Reuters
More Summaries:
Cuadrilla
12/12/2018

Scientists who studied almost 20 years of satellite images say glaciers in parts of Asia are slowing down as they get thinner. The trend could affect global sea levels and the amount of meltwater flowing to downstream populations, researchers say.

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BBC
12/11/2018

Global stock market turbulence due to geopolitical instability and economic growth concerns caused oil prices to wipe out gains they made after OPEC announced agreed-upon production cuts on Friday. West Texas Intermediate lost 3.1% to settle at $51 per barrel Monday, while Brent oil futures declined 2.7% to close at $59.99 per barrel.

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CNBC