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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 spending to about $7 billion and return $50 billion to shareholders over the next decade.The announcement comes as investors, frustrated by weak commodity prices for 5 years…
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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 Energy Agency (IEA) are overly optimistic in their November projections of US crude oil production in 2020, according to the company’s latest North America Watch.ESAI Energy sees a deceleration in growth to about 650…
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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 for a sixth consecutive week as producers slash spending on new drilling.Drillers cut three oil rigs in the week to Nov. 27, bringing the total count down to 668…
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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 briefly following comments from U.S. President Donald Trump that a trade deal with China may be delayed.Brent crude futures rose 5 cents to $60.97 a barrel by 11:18 a.m. EST (1618 GMT). U.S.
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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. government data showed a large drop in domestic crude stockpiles.Brent crude futures were up $2.44, or 4%, at $63.26 a barrel by 11:09 ET (1609 GMT). U.S. West Texas Intermediate (WTI) crude futures were up $2.38…
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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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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…
Latest news
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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…
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Oil Prices Creep Higher on U.S.-China Hopes and OPEC Talks
Oil prices crept upwards on Monday, with Brent reaching its highest in more than a month after the previous day's boost from…
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Drilling Ban Proposals Divide Democrats
In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling…
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U.S. NatGas Prices Near 25-year Low as Glut Weighs
In the shale field that helped launch the U.S. natural gas boom a decade ago, Chesapeake Energy Corp this month set aside its last drilling rig.
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TC Energy: North Dakota Spill Shutters Keystone pipeline
Oct 30 (Reuters) - TC Energy Corp said on Wednesday it is shutting its Keystone crude pipeline after a late Tuesday oil spill…
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ConocoPhillips Profit Beats Estimates
US oil and gas company ConocoPhillips' quarterly profit shot ahead of analysts' estimates on Tuesday, as higher shale production…
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ExxonMobil Seeks to Sell Montana Refinery
Exxon Mobil Corp is seeking a potential buyer for its roughly 60,000 barrel per day Billings, Montana refinery, according…
Exploration
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Offshore: OSV Market Report
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic…
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Majors Press Mexico to Resume Oil Auctions
Big oil companies operating in Mexico have launched a drive to convince leftist President Andres Manuel Lopez Obrador to…
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China to Launch State Pipeline Group
China plans to launch its long-awaited national oil and gas pipeline company on Monday, part of a sector-wide reform aimed at providing fair market ac
Drilling
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Providence to Operate Avalon as Total Exits
As Total E&P Ireland, a subsidiary of the French multinational oil giant, has withdrawn, Providence Resources has taken over…
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Oil Edges Lower on U.S. Crude, Gasoline Build
Oil eased on Wednesday after a report showing U.S. crude inventories grew unexpectedly last week and gasoline stocks surged…
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Solveig buys oilfield operator Capricorn from Cairn
Norwegian pipeline firm Solveig Gas has agreed to buy oil firm Capricorn Norge from Cairn Energy for $100 million, completing…
Production
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Timeline: Saudi Aramco's Winding Road to IPO
State-run oil giant Saudi Aramco has priced its initial public offering (IPO) at the top of its indicative range, making…
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Russia Expecting Oil Output Bump
Russia still expects an increase in 2019 oil output to a record 556-560 million tonnes from 555.8 million tonnes produced in 2018, Energy Minister Ale
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Oil Companies Swap Stakes in Mexico
With Mexico's government insisting that energy companies increase oil and gas output before it auctions off more of the country's…
