China reported stronger than expected trade data on Wednesday, the latest sign of a tentative revival in fortunes that paves the way for Friday’s release of first-quarter economic growth. Exports Continue Reading
Southeast Asian upstream company KrisEnergy Limited, which has set a record low capital expenditure target for 2016, expects turbulent times for the oil industry to continue this year, while it Continue Reading
Americans driving on their summer vacations will enjoy the cheapest gasoline in 12 years as prices stall just above $2 a gallon. Drivers will pay 59 cents a gallon less Continue Reading
A high level of supplies on the U.S. market helped push retail gasoline prices lower despite a rally in crude oil prices, motor club AAA reported. AAA reports a national Continue Reading
Marathon Oil said it was unloading more than $1 billion in assets in the United States as it streamlines its portfolio during the market downturn. File Photo by ekina/UPI HOUSTON, Continue Reading
CSX earnings have been hurt by the drop in coal shipments. CSX Corp. CSX 1.88 % on Tuesday reported revenue fell in the first quarter, as the volume of coal Continue Reading
The $147 billion question for banks: Will energy companies max out their credit lines? When big banks announce earnings starting on Wednesday, the spotlight will be on massive energy loans Continue Reading
Environmentally minded Exxon investors have sought for decades to use the company’s annual meeting as… Investors holding more than $5 billion in Exxon Mobil Corp. XOM 1.24 % shares are Continue Reading
The first Alaska wildfire of 2016 broke out in late February, followed by a second there just eight days later. New Mexico has had 140 fires this year, double the Continue Reading
During the 2016 April-through-September summer driving season, U.S. regular gasoline retail prices are forecast to average $2.04/gallon (gal), compared with $2.63/gal last summer (see EIASummer Fuels Outlook presentation). For all Continue Reading
We are entering the critical spring borrowing base redetermination season, which as we previewed previously is the biggest threat to near-insolvent energy companies whose banks may, and in many cases Continue Reading
Many analysts had anticipated that a dramatic drop in oil prices such as we’ve seen since the summer of 2014 could provide a big stimulus to the economy of a Continue Reading
There’s not much money in new well drilling these days. In fact, the latest figures from the American Petroleum Institute (API) reveal a 70 percent annual decline in new natural Continue Reading
Stockpile data for oil via API’s weekly survey Crude build of 6.223 mln barrels Cushing draw of 1.93 million barrels Gasoline draw 1.58mln barrels Distillate draw 530K bbls The crude Continue Reading
BP is facing a revolt from its shareholders over the salary of its CEO Bob Dudley. Dudley’s salary jumped 20 percent in 2015 to $19.6 million, the same year in Continue Reading
Alberta’s leading oil sands producers are currently working on ways to reduce the sustaining capital for their projects in order to maintain global competitiveness and also attract investment, executives said Continue Reading
The latest EIA drilling productivity report (11th April 2016) https://www.eia.gov/petroleum/drilling/ shows US shale oil production continuing to decline in Bakken, Eagle Ford and Niobrara while the Permian has flattened out. Continue Reading
Taking a long view on the global market, Russian energy company Gazprom said it selected St. Petersburg as the 2022 host of a liquefied natural gas summit. Billed as the Continue Reading
Russia sees a deal on freezing oil output as possible regardless of Iran’s stance. “There is hope,” Dmitry Peskov, the Kremlin’s press secretary, said following the latest conversation between Russian Continue Reading
Two years ago, BP Plc said international sanctions against Russia could hurt its business there. Didn’t happen. Instead, London-based BP has found a haven in Russia, buttressed by a falling Continue Reading
Oil climbed to a four-month high in London as forecasts for lower U.S. shale production signaled the global oversupply will slowly diminish. Brent advanced 1.6 percent to the highest since Continue Reading
Thirty-three years after REM released their debut album, and the crude complex today is being driven by murmurs again. As the producer meeting in Doha approaches (but not fast enough…), Continue Reading
The U.S. oil benchmark settled above $40 a barrel for the first time in nearly three weeks and the global Brent contract touched a four-month high Monday, as the dollar Continue Reading
Aside from the price of their main output, there is one thing that matters for the biggest oil and gas producers: Are the cuts enough? The answer from Moody’s, which Continue Reading
Oil halted gains after the biggest jump in almost two months as Iraq said it raised output to a record ahead of talks between the world’s largest producers about freezing Continue Reading
Following Largest Jump in Two Months A meeting of oil producers in Doha this month to discuss freezing crude production will do little to boost prices, and may even cause Continue Reading
Oil prices slipped on Monday over worries that the result of next Sunday’s meeting of producers in Qatar aimed at freezing current output levels would fail to improve the current Continue Reading
Crude oil markets are coming back into “better balance” as supplies are cut back in response to lower prices, Chevron Chief Executive Officer and Chairman John Watson said Tuesday. The Continue Reading
U.S. shale oil production is expected to fall by a record amount in May in the seventh straight month of declines, a U.S. government forecast showed on Monday, as fallout Continue Reading
Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to Continue Reading
Work is done on a 787 Dreamliner for Air India at Boeing’s North Charleston, S.C.,… Boeing Co. BA 0.02 % has opened talks to sell airliners to Iran in what Continue Reading
For the first time, international companies will be paid for oil production stemming from Iraq’s new generation of exploration contracts. Ahmed Haider Ahmed, business development manager of Kuwait Energy, drops Continue Reading
In Africa’s top economy, the oil bust is beginning to hit the streets. With 187 million people, and trillions of dollars in untapped crude oil, Nigeria was meant to power Continue Reading
Scottish company Cairn Energy said it was maintaining a string of success with the latest discovery of natural gas at an evaluation program offshore Senegal. The Scottish company and its Continue Reading
Mexico will use $13.6 billion from a central bank surplus to pay down debt and boost its rainy day fund, shoring up finances as it prepares a support plan for Continue Reading
BEIJING — More than 80 percent of the water from underground wells used by farms, factories and households across heavily populated plains of China is unfit for drinking or bathing Continue Reading
Gasoline drips off a nozzle during refueling at a gas station in Altadena, California March 24, 2012. Strong growth in U.S. gasoline consumption has been one of the most important Continue Reading
TransCanada Corp’s ( TRP.TO ) 590,000-barrel-per-day Keystone crude oil pipeline continued operating at reduced rates, the company said in an e-mail on Monday, as an investigation into a leak earlier Continue Reading
National Oilwell Varco Inc., the biggest U.S. maker of oilfield equipment, slashed its quarterly dividend by 89 percent as the global crude price crash cuts demand from customers to record Continue Reading
A Chesapeake Energy natural gas well pad rests on the hill in Litchfield Township, Penn. Chesapeake Energy Corp. said it has reached an amended agreement with its lenders that affirmed Continue Reading
New-well oil production per rig barrels/day New-well gas production per rig thousand cubic feet/day Region April 2016 May 2016 change April 2016 May 2016 change Bakken 757 767 10 957 Continue Reading
The long wait is finally over; the U.S. Justice Department has announced it will sue to block the merger of Halliburton and Baker Hughes. This makes the merger much less Continue Reading
Saying it’s a danger to the air and water supply, Vermont Sen. Bernie Sanders upped his rhetoric on hydraulic fracturing Monday by calling for a nationwide ban on fracking. In Continue Reading
Summary As one of the seven largest natural gas producing regions in the U.S., the Eagle Ford is a significant area to understand for natural gas-oriented investors. In this article, Continue Reading
At its annual investor conference in San Francisco in May 2014, with oil trading at $102 a barrel, Wells Fargo & Co. boasted that in just two years it had Continue Reading
J.P. Morgan Chase Chairman and CEO James Dimon in February called the unfunded loans are… The $147 billion question for banks: Will energy companies max out their credit lines? When Continue Reading
Dozens of investors are backing the call for ExxonMobil, the US oil group, to “stress test” the potential impact on its business of policies to address the threat of climate Continue Reading
Oil halted gains after the biggest jump in almost two months as Iraq said it raised output to a record ahead of talks between the world’s largest producers about freezing Continue Reading
Oil prices slipped on Monday over worries that the result of next Sunday’s meeting of producers in Qatar aimed at freezing current output levels would fail to improve the current Continue Reading
Hedge funds betting that oil’s rally was over missed an 11 percent gain after U.S. crude inventories unexpectedly fell. Short positions in West Texas Intermediate crude jumped 35 percent in Continue Reading
