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U.S. Drillers Add Most Rigs Since Feb 2018
U.S. energy firms added the most oil rigs this week since February 2018 - primarily in the Permian shale - even though producers have been reducing spending on new drilling for much of this year.Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the most since early November…
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US Crude Stocks Fall Far More Than Expected
U.S. crude stocks fell much more than anticipated as refineries boosted output near the end of the year, the Energy Information Administration said on Friday.Crude inventories fell by 5.5 million barrels in the week to Dec. 20 to 441.4 million barrels, far exceeding the 1.7-million…
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Oil on Track for Biggest Yearly Rise Since 2016
Oil fell on the last trading day of the decade on Tuesday but was still on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was down 74 cents at $65.93 a barrel by 1434 GMT. U.S. West Texas Intermediate…
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Castleton Closes Shell Shale Deal
Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc. Pro forma for the acquisition…
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Fire-Damaged Philadelphia Oil Refinery Heads for Auction
The fate of the largest East Coast oil refinery is set to be decided on Friday in an auction that could determine whether the Philadelphia plant is restarted or used for a different purpose for the first time in over a century.The refinery's owner, Philadelphia Energy Solutions, is…
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U.S. Drillers Add Rigs for first Week in Eight
U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending…
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Croatia Awards Licence to INA for Gas and Oil Exploration
The Croatian government said on Thursday it had awarded a licence to energy group INA for gas and oil exploration and exploitation…
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Oil Jumps 4% on U.S. Stockpiles Drop
Oil prices surged 4% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S.
Latest news
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Oil Steadies After Brief Slide
Oil steadied on Tuesday, as expections of output cuts from OPEC and allied producers brought prices back up after they slid…
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U.S. Drillers Cut Rigs for 12th straight Month
U.S. energy firms reduced the number of oil rigs operating for a record 12th month in a row after this week cutting rigs…
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EIA, IEA Grossly Overestimating US Shale: ESAI
ESAI Energy, an oil & energy data provider, believes both the US Energy Information Administration (EIA) and the International…
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ConocoPhillips targets $50 bln free cash flow over next decade
ConocoPhillips unveiled a long-term plan on Tuesday to boost oil and gas production by about 3% per year, restrain annual…
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Sinopec Gets Weirong Green Light
China's Sinopec has received approval from the ministry of natural resources to develop shale gas at the Weirong gas field…
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US Shale Sector Performs Well
U.S. shale operators are on track to grow 2019 oil production by around 16% over 2018 thanks to impressive operational execution…
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Oil Rises on U.S. Crude Stocks Fall
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from OPEC about lower-than-expected U.S.
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Equinor Sells Eagle Ford Asset for $325 Mln
Norwegan energy company Equinor said it has signed an agreement to divest to Repsol its 63% interest in, and operatorship of…
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Top Shale CEO Says OPEC Shouldn't Worry About U.S. Oil Growth
Pioneer Natural Resources Chief Executive Scott Sheffield said on Tuesday that he expects the Permian Basin, the top U.S.
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Asia's Oil Demand to Rebound in 2020 -FGE
Asia's oil demand growth is expected to more than double to 815,000 barrels per day (bpd) in 2020 from 380,000 bpd this year led by China and India, t
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U.S. Ingenuity Will Solve Climate Challenge: US DOE
The United States can tackle threats to the climate through technological advances as fossil fuels will remain a priority for the U.S.
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MOL Purchases Azerbaijan ACG, BTC Pipeline Stakes
MOL has signed an agreement with Chevron Global Ventures Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated…
Exploration
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Exxon to Load First Crude from Guyana This Weekend
The first-ever cargo of Guyana's crude for export is scheduled to begin loading this weekend so the oil can be processed…
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Gassco Urges to Boost Barents Sea Gas Export
Norwegian state-owned natural gas pipelines operator Gassco published a study saying that it could be profitable to increase…
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Oil And Gas Discoveries Hit 4-Year High
The global oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest…
Drilling
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Oilfield Services Giants Start Year with Asset Sales
Schlumberger, Halliburton Co, and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three…
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Wood Group Sees Higher Annual Earnings
Oilfield services provider John Wood Group Plc expects higher core earnings in 2019, with strong performance in its engineering…
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Indonesia Plans New Gas Pricing for Industrial Users
Indonesia plans to unveil a new gas pricing policy for industrial customers in March in a bid to lower energy costs for manufacturers…
Production
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Asia LNG Spot Prices Drop to Multi-year Low
Asian liquefied natural gas (LNG) spot prices dropped to multi-year lows on Tuesday with at least one cargo being sold into…
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Vattenfall, TuuliWatti to Balance Finnish Wind
European energy company Vattenfall has signed a five-year energy services agreement with the largest Finnish wind power producer…
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CNPC Finds Reserves From Pre-salt Field at Tarim
China National Petroleum Corp (CNPC) said it has found oil and gas reserves from a pre-salt area, where the resources are trapped under a layer of sal
