The Market, Energy, And Political Page, T+81 -- November 2, 2018

Keystone XL: oilprice.com breaking news.

• TransCanada will sell some assets and bring in joint venture partners
• TransCanada says it is willing to sell assets to raise cash to partly fund the Keystone XL  

NOVA Gas: over at Rigzone.

• TransCanada, Calgary-based
• $1.5 billion NOVA Gas Transmission (NGTL) expansion
• will move gas from Alberta to British Columbia
• 122 miles of large diameter pipeline
• brings the capacity expansion programs underway on the NGTL System to more than $9 billion

COP departs Barnett: over at Rigzone.

• sold 114,000 net acres in the Barnett to Lime Rock Resources
• $230 million 
• $2,000 / acre
• Montague, Wise, Denton, and Cooke counties
• according to ConocoPhillips, its Barnett production for the first half of 2018 averaged 9,000 barrels of oil equivalent per day. Roughly 55 percent of that production volume comprised natural gas and the remaining 45 percent natural gas liquids

US, OPEC flood oil market: midterms? Sustainable? As if 150 US shale companies are colluding with Saudi Arabia to keep prices down prior to the midterms. LOL.

• OPEC: 33.31 million bpd in October, the highest since December, 2016 (the Saudi Surge)
• understatement of the year: "oil producers appear to be successfully offsetting the supply outages form Iran and Venezuela" ... well, duh. And, oh, by the way, the Iranian sanctions have not yet begun; 
• there were earlier stories that Iran maxed production in anticipation of the sanctions
• Russia: continues to produce at post-Soviet record highs
• at 11.346 million bopd in August, the US is outproducing Russia -- just slightly

Red Sea Project: remember the name -- Yanbu. Link here.

• Saudi Arabia and SABIC
• an integrated industrial complex to convert crude oil to chemicals (COTC)
• Saudi Arabia's west coast
• will process 400,000 bopd
• produce 9 million tons of chemicals
• Wood and KBR to perform the front-end engineering
• will generate 30,000 direct and indirect job
• will contribute 1.5% to Saudi Arabia's GDP by 2030
• Saudi Vision 2030
• to be operational by 2035
• Saudi Arabia/SABIC: 50/50

Iran sanctions, over at Rigzone. Story here.

Shell, re-posting. Shell produces one of it s strongest quarters ever. Rigzone. Link here.