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Oil Rises After Saudi Pledge, Declining U.S. Inventories
Oil prices rose on Wednesday after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, and after an industry group reported a surprise decline in U.S. oil inventories.Brent crude, the global benchmark, was up $1.07, or 1.7 percent, at $63.49 a barrel at 9:55 a.m. EST (14:55 GMT), while U.S.
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Partial Shutdown of Keystone Oil Pipeline
A shutdown of a portion of TransCanada Corp's Keystone oil pipeline will last a further "days not weeks," following a leak in Missouri last week, crude producer Cenovus Energy said on Wednesday.Citing a conversation with TransCanada, Cenovus executive vice-president of downstream…
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As Renewables Soar, BP sees China Hitting Brakes
Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China's energy growth is seen sharply decelerating as its economic expansion slows.Still, China is set to remain the largest energy consumer…
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US Oil Rallies as Exporters Trim Production
U.S. oil prices rose on Friday, gaining for a fourth day on hopes of further supply cuts by major exporters, despite uncertainty about U.S.-China trade talks.U.S. West Texas Intermediate (WTI) crude futures were at $54.79 per barrel at 0038 GMT, up 40 cents, or 0.7 percent, from their last settlement.
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US Rig Count Climbs
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels.Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857…
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Occidental Petroleum Profit Jumps
Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts' estimates, helped by a surge in Permian…
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Oil Up On Saudi and OPEC Cuts
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass…
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US Crude Inventory Remains High
U.S. crude inventory has been hovering between 430 and 450 million barrels since early December — and remains around 6% above…
Latest news
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Phillips 66, Kinder Announce Gray Oak Pipeline Deliveries to Houston
Phillips 66 and Kinder Morgan Inc began on Monday soliciting shipper commitments for crude deliveries on the 900,000 barrel…
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Size Matters in Shale Industry
Having taken a closer look at the detailed economics of the most recent 1,000 wells drilled in the most popular shale hotspot…
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Schlumberger Names Le Peuch as Chief Operating Officer
Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal…
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Anadarko Profit Misses as Costs Rise
Oil and gas producer Anadarko Petroleum Corp on Tuesday reported a fourth-quarter profit that missed analysts' estimates by a wide margin…
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Oil Falls on U.S. Factory Data
Oil prices fell on Tuesday, a day after data showing a decline in U.S. factory orders dragged both benchmarks down from 2019 highs.Despite the slide…
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US Shale Lifts Exxon, Chevron Profits
Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings…
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Storms, Snow Disrupt Exports from Russian Baltic
Storms, snow and freezing temperatures in Russia's northwest to the south have delayed some oil product exports but the fall…
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Sonatrach Shortlists 4 Firms for Trading Joint Venture
Algeria's Sonatrach has shortlisted four firms, with only one to be selected, to set up a trading joint venture, the company's…
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Part of Keystone Pipeline Still Shut After Missouri Leak -TransCanada
TransCanada Corp said on Monday a part of its Keystone crude pipeline from Steele City, Nebraska, to Patoka, Illinois, remained…
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BP to Invest $1.8 bln in Egypt
BP Chief Executive Bob Dudley on Monday said the company will invest about $1.8 billion in Egypt this year and he expects a crude oil price of $50-65
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Groningen Gas Production Falling Faster Than Planned
Gas production at the Groningen field in the north of the Netherlands is falling faster than planned, the Dutch government said on Friday.Output at th
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Sunoco Pipeline to Pay $5.4 mln for Oil Spills
Pipeline operator Sunoco Pipeline LP has agreed to pay roughly $5.4 million to settle claims over crude oil spills from 2013 to 2015 in three U.S.
Exploration
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South Africa: Has Up to 60 tcf of Offshore Gas Potential
South Africa, where oil major Total recently made a big offshore discovery, said on Friday it had potential gas resources…
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Anadarko Nearing FID for Mozambique LNG
U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural…
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India, China to Lead Rapid Growth in Energy
The major chunk of global energy supply growth is expected to come from renewables and natural gas over the next two decades…
Drilling
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Tullow Oil Returns to Net Profit
Africa-focused Tullow Oil reported its first annual net profit in five years on Wednesday and said it would resume dividends…
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Velesto Gets Contract Extension from Hess
Malaysian drilling contactor Velesto Drilling said that the oil company Hess Exploration and Production Malaysia has extended…
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Equinor Drills Dry Well in the Barents Sea
Norwegian energy company Equinor has come up dry in the drilling of its first wildcat well in production licence 857 in the…
Production
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Polaris Bunkered in Finland
The world’s first LNG-fueled icebreaker, Polaris, received liquefied natural gas (LNG) fuel in January from the Pori LNG…
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Groningen Seaports, Vopak Push Solar Power
The Dutch tank storage company Royal Vopak, Groningen Seaports and Whitehelm Capital announce their intention to jointly…
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Eni Quarterly Profit Jumps 55%
Italian oil company Eni beat expectations with a 55 percent jump in fourth quarter profit as higher prices, mainly gas, offset…
