Author Archive: Jordan Gleason

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Cheniere Energy turns first quarterly profit with LNG exports

Cheniere Energy turns first quarterly profit with LNG exports

Exporting liquefied natural gas is officially profitable for the first time, Houston’s Cheniere Energy reported Tuesday. After becoming the first U.S. company to begin exporting LNG early last year, Cheniere on Tuesday reported its first quarterly profit now that revenue is streaming in regularly. Cheniere posted a $110 million fourth-quarter profit, compared with a $291 million […]

By February 28, 2017 0 Comments Read More →

Oil price, Premier, Roxi, Union Jack, And finally…

Still stuck in a narrow trading range, both WTI and Brent rose by 21 cents last week. Friday might have been a lot better if London traders hadnt been suffering from the after effects of the IP dinner, but the boys in long trousers go and and do the Scottish Oil Clubs event on Friday […]

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Iran describes OPEC compliance with oil cuts as ‘acceptable’

OPEC’s level of compliance with production cuts in January has been acceptable, Iran’s oil minister said on Monday, expressing hope for further cooperation from non-OPEC members in the near future. The Organization of the Petroleum Exporting Countries agreed on Nov. 30 to cut output by 1.2 million bpd to 32.5 million bpd for the first […]

By February 28, 2017 0 Comments Read More →

Oil prices fall as rising US output offsets OPEC cuts

Global oil prices dipped on Tuesday but continued to trade in a tight range, with OPEC-led output cuts offset by increasing crude production from the United States. The Organization of the Petroleum Exporting Countries has so far surprised the market by showing record compliance with oil-output curbs, and could improve in coming months as the biggest laggards […]

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Exclusive: Saudi Arabia wants oil prices to rise to around $60 in 2017 – sources

Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies – the United Arab Emirates, Kuwait and Qatar – believe would encourage investment in new fields but not lead […]

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Global oil prices broadly flat, in tight range

Global oil prices were broadly flat on Tuesday, continuing to trade in a tight range with OPEC’s bullish production cuts offset by increasing crude production from the United States. The Organization of the Petroleum Exporting Countries has so far surprised the market by showing record compliance with oil-output curbs, and could improve in coming months […]

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Aramco’s Malaysia deal gives Saudis upper hand in fight for Asia oil share

Top global oil exporter Saudi Arabia broke from the pack in the race to lock up Asian market share after agreeing on Tuesday to pump $7 billion into a refinery-petrochemical complex in Malaysia, analysts said. State oil giant Saudi Aramco’s investment into Malaysia’s RAPID project will secure an outlet for its crude oil for at […]

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Crude Oil Is Firming: Are Traders Looking for a Breakout?

US crude oil (USO) (USL) (OIIL) (DBO) April futures rose 0.4% in the week ending on February 24, 2017. WTI (West Texas Intermediate) crude oil April futures closed at $53.99 per barrel on February 24—an 0.8% fall from the previous trading session. The fall in oil prices could be attributed to profit-booking. On February 23, […]

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Lawmakers: Tax exemptions to be examined in upcoming session

Lawmakers just closed a $304 million mid-year budget deficit and are already looking ahead to April, when the Legislature will look for revenue sources to help remedy the state’s consistently dire financial picture. After pulling $99 million from the state’s rainy day fund and filling the remaining gap with cuts, including $40 million cut primarily from […]

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The Biggest Winner Of The New U.S. Shale Boom

As Saudi Arabia cuts even more oil than promised, U.S. shale production is up by 176,000 barrels per day—but it’s the frac sand industry that will feel the real revolution, and micro-cap sand producers who have flown under the radar until now are about to come up for some very lucrative air. But the U.S. shale rebound […]

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