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Only 10% of Shale Firms Reports Positive Cash Flow
Only four, out of the financial performance of 40 dedicated US shale oil firms under study, reported a positive cash flow balance in the first quarter of 2019, bringing down the share of companies with a positive cash flow balance from the recent norm of around 20% to just 10%.Nine in ten US shale oil companies are burning cash…
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Tainted Oil Set for Russian Refineries, Ports After Dilution
More than a million tonnes of contaminated oil from Russia's Druzhba ("Friendship") pipeline, expected to be shipped back from Belarus, will end up at Russian refineries and export ports after being diluted to usable levels, sources have told Reuters.The pipeline was halted in April…
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Cheniere to build LA Sabine LNG Export Train
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said on Monday it will build the sixth liquefaction train at its Sabine Pass LNG export terminal in Louisiana.Cheniere also said it expects to make a positive final investment decision as early as 2020 to add about 9.5 million…
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Oilfield Services Firms Keane, C&J Merge
Oilfield services company Keane Group Inc said on Monday it will merge with rival C&J Energy Services in a $745.7 million all-stock deal, as it looks for scale amid spending cuts by crude producers.The oil service sector has been battling lower demand and pricing pressure as U.S.
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US Rig Count Climbs
U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week.Big energy price declines over the prior couple of months, however, prompted one analyst to cut rig count forecasts for 2019 and 2020.Companies added one oil rig in the week to June 21…
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Dutch Court Orders Shell to Pay $2.8 mln Fine for 2014 Plant Blast
A Dutch court on Monday ordered Royal Dutch Shell to pay a 2.5 million euro ($2.8 million) fine for failing to prevent an…
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BP Boosts Saudi, U.S. Oil Reserves Estimates
BP raised its estimates of Saudi and U.S.
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Frac Sand Prices to Remain Flat
Demand for sand to be used by the oil and gas industry in hydraulic fracturing operations in the US is set to grow by 10% in 2019 and 17% in 2020…
Latest news
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U.S. Crude Stocks Rise Unexpectedly - EIA
U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output…
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U.S. Shale Oil Production to Grow 16%
United States shale operators are on track to increase oil production by 16 percent in 2019, according to analysis by energy…
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U.S. Shale: World’s 2nd Cheapest Source of Supply in Oil
North American tight oil is emerging as the second cheapest source of new oil volumes globally, just shy of the Middle East onshore market…
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U.S. Crude Stocks Fall as Imports Fall
U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said on Wednesday, and strong…
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Oil Falls Near 2% as U.S.-China Trade War Intensifies
Oil prices slipped nearly 2 percent on Tuesday, on track to fall to their lowest levels in over a month as renewed doubts…
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Kinder Morgan's $1.75 bln Gas Pipeline Hit with Steel Tariff
U.S. pipeline operator Kinder Morgan Inc will pay a tariff on imported steel used in a $1.75 billion natural gas pipeline project, the U.S.
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Oil Prices Fall After Trump's Tariff Threat Against China
Oil prices fell on Monday after U.S. President Donald Trump said he would sharply raise tariffs on Chinese goods this week…
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Noble Energy Posts Bigger-than-expected Loss
Noble Energy Inc reported a bigger-than-expected quarterly loss on Friday, as the U.S. oil and gas producer was hit by weak crude prices.U.S.
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Weir Oil & Gas Intros ULR Wellhead
Weir Oil & Gas, a upstream provider of pressure pumping and pressure control equipment and services, today announced an updated…
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Vitol Builds Refinery for New Ship's Fuel
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia…
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Masela Development Approval Nears
The Indonesian government is set to approve Japanese Inpex Corp's revised plan of development for the Masela natural gas block next week, the chairman
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Cyprus Issues Arrest Warrants for Turkey Drill Ship Crew
Cyprus has issued arrest warrants for the crew of a Turkish drill ship anchored close to its coast for allegedly infringing…
Exploration
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Pemex Steering Clear of Deepwater
Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now…
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Poland Employs New Seismic Tech
The Polish state-controlled oil and gas company PGNiG said that its geophysical services provider Geofizyka Toruń SA became…
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Total Cuts 200 Jobs in Denmark
French oil major Total SA said on Thursday it would cut 200 jobs in Denmark as part of the redevelopment of the Tyra gas…
Drilling
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Total Launches New Supercomputer
Energy major Total said its new supercomputer - which has propelled it to a world ranking as the most powerful computer in…
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Greek PM May Seek Sanctions Against Turkey in Gas Row
Greece and Cyprus will push their EU partners to penalize Turkey, including the possible option of sanctions, if Ankara is…
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US Leads World Oil Reserves
The United States has a world-leading 293 billion barrels of recoverable oil resources, which is 20Bbbl more than Saudi Arabia…
Production
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Vitol Builds Refinery for New Ship's Fuel
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia…
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Gazprom Neft, Zyfra to Develop Digital Products
Oil company Gazprom Neft and tech firm Zyfra agreed to set up a joint venture to work on developing digital products for…
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Masela Development Approval Nears
The Indonesian government is set to approve Japanese Inpex Corp's revised plan of development for the Masela natural gas block next week, the chairman
