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Oil Falls as Coronavirus Hits Demand
Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.Brent crude was down $1 at $55.62 a barrel by 1434 GMT, its lowest since January last year.U.S.
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Iran Oil Minister says China's Virus Impacted Oil Demand
Iranian Oil Minister Bijan Zanganeh said on Monday that the spread of China's new coronavirus had hit oil demand and called for an effort to stabilise oil prices, Iran's official news agency IRNA reported.The minister also said Iran would agree to an earlier OPEC meeting if the rest of the group's members agreed to oil production cuts.
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BP More than Doubles US Shale Oil Putput in 2019
BP's U.S.
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Shale Pioneer Hess Says Key U.S. Fields Starting to Plateau
Shale pioneer John Hess said Tuesday that key U.S. shale fields are starting to plateau, calling shale "important but not the next Saudi Arabia."Production in the Eagle Ford Shale in South Texas is starting to plateau, while the Bakken field in North Dakota where Hess is a major producer…
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Oil Prices Climb on Hopes of Deeper OPEC+ Production Cuts
Oil prices edged higher on Thursday as investors focused on the possibility of deeper supply cuts from the world's biggest producers, whilst largely shrugging off reports which cut demand forecasts after the coronavirus outbreak in China, the biggest oil importer.Brent crude was up 32 cents, or 0.6%, at $56.11 a barrel by 10:52 a.m.
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Canadian Energy Sector to Boost Spending
Capital spending by Canada's oil and gas industry will rise by 6%, or C$1.9 billion, in 2020 from the previous year, halting…
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Cheniere Drops Lawsuit Against Tellurian Board Members
Tellurian Inc on Thursday said Cheniere Energy Inc has dismissed all claims against its Chairman Charif Souki and Vice Chairman…
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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…
Latest news
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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…
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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…
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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…
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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…
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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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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.
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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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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…
Exploration
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USA Ups BOEM Offshore Wind Budget
The Trump Administration has proposed a $189m fiscal year 2021 budget for the Bureau of Ocean Energy Management (BOEM), designating…
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Are OSVs Fit for Refit for Offshore Wind?
While it is generally agreed that the nascent offshore wind energy market in the U.S. will be a newbuild market, there is…
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Tullow to Axe a Third of Its Workforce
Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source…
Drilling
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NOV Warns Virus Fallout Could Hit Supply Chain
U.S. oilfield equipment supplier National Oilwell Varco on Friday called the coronavirus a "wildcard" in the oil industry's outlook…
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PGNiG Acquires Duva Field in Norway
PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to…
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CaribX Ups Stake in Cape Licence Off Honduras
The Central American and Caribbean specialist exploration company CaribX said that it is increasing its share of the Main…
Production
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Gazprom Neft, Mubadala Sign Tech Pact
Gazprom Neft, is the third largest oil producer in Russia, and Mubadala Petroleum (Abu Dhabi, UAE) have entered into a memorandum…
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Total CEO: Governments Not Oil Firms Must Drive Carbon Curbs
It is up to governments to drive decarbonisation and consumers will have to pay more to achieve carbon neutrality, Total's chief executive said…
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Offshore Wind: Half Empty or Half Full?
As a new decade starts, offshore wind development continues to progress. Actually, it’s probably more accurate to write that…
