Anadarko Petroleum Slashes Dividend by 81%
The move will save the company about $450 million a year, Anadarko Chief Executive Al Walker said. The company’s stock, down more than half over the past 12 months, fell Continue Reading
Natural Gas Falls With Stockpiles Still High
Natural gas prices gave up some of its recent rebound as heavy stockpiles continue to keep a lid on any rally. Futures for March delivery settled down 4.2 cents, or Continue Reading
Short-Term Energy Outlook
Highlights North Sea Brent crude oil prices averaged $31/barrel (b) in January, a $7/b decrease from December and the lowest monthly average price since December 2003. Brent crude oil prices Continue Reading
The Availability and Price of Petroleum and Petroleum Products Produced in Countries Other Than Iran
December 2015 – January 2016 Update The U.S. Energy Information Administration (EIA) estimates that global oil inventories grew by an average of 1.7 million barrels per day (b/d) in December Continue Reading
U.S. shale oil output to peak in 2020: Russia’s Sechin
Shale oil production in the United States will decline in the long-term and reach its peak by 2020, the head of Russian state-run oil company Rosneft said on Wednesday. “Shale Continue Reading
Obama Administration to Tweak Proposed Offshore Drilling Rule
The Obama administration is preparing to make a major offshore drilling regulation somewhat more favorable to the oil and natural gas industry, compared to a preliminary proposal issued last year, Continue Reading
East Coast blizzard raised gas inventory withdrawals, spot prices: EIA
The massive blizzard that hit the East Coast in late January prompted the largest withdrawal of natural gas inventories from storage this winter but had little impact on electricity demand, Continue Reading
Europe Banks May Face $27 Billion Energy-Loan Losses, BofA Says
European banks face potential loan losses from energy firms of $27 billion, or about 6 percent of their pretax profit over three years, according to analysts at Bank of America Continue Reading
Concerns About Supply Persist As Conventional Crude Slides
Predictions that oil production would soon top out flooded the airwaves, stoking fears of a global oil shortfall and fueling speculation of prices at hundreds of dollars a barrel. “People Continue Reading
Oil Prices Rise on Output Uncertainty
Oil prices rose in Asia on Tuesday, despite receding hopes of a coordinated production cut between major oil producers. A Sunday meeting between Saudi Arabia and Venezuela ended without any Continue Reading