OPEC And The Upcoming Oil Crash: U.S. Producers Are Ready
As warned one month ago after the farcical OPEC meeting in Algiers, the cartel’s latest jawboning ploy to keep prices artificially higher – if only for one more month – Continue Reading
Expert Commentary: The OPEC Oil Rally Is Over
• Oil moved in a narrow $49-$51 range early this week before settling near $49.70 Thursday afternoon. On the bearish side, Russia and Iraq offered uncooperative sound bites regarding production Continue Reading
Nigerian oil company working with security forces
With an eye on the national budget, Nigeria’s state oil company said it would work closely with police in an effort to tackle militant threats. The Nigerian National Petroleum Corp. Continue Reading
Choking on oil fires, Qayarah strains to recover
At noon, the sky is so dark with smoke that cars drive down Qayarah’s main road with their headlights on. People walk with their heads down, masks or scraps of Continue Reading
Nigeria: ExxonMobil Discovers Another 1 Billion Barrels of Oil in Bayelsa
American oil giant, ExxonMobil, has announced the discovery of about 1 billion barrels of crude oil in a Nigerian offshore oilfield. In an emailed statement on Thursday, the firm described Continue Reading
New York set for offshore wind after environmental review
Areas off the New York coast will be open for offshore wind energy bidders, but some area is reserved because of ecological concerns, the U.S. government said. The U.S. Interior Continue Reading
U.S. oil drillers cut rigs for first week since June: Baker Hughes
U.S. oil drillers cut rigs this week for the first time since June, ending a 17-week recovery in the rig count, even as crude prices mostly held over $50 a Continue Reading
Exxon warns low oil prices may dent reserves nearly 20 percent
Exxon Mobil Corp, whose oil field assets are being investigated by the U.S. government, warned on Friday it may need to slash proved reserves on its books by nearly 20 Continue Reading
Chevron Posts First Profit Since ’15 as Oil Inches Higher
Production of crude and natural gas misses analysts’ estimates Company’s U.S. wells lost $212 million during the quarter Chevron Corp. posted its first profit in a year as a recovery Continue Reading
Exxon Facing Historic Reserves Reduction as Slump Persists
Energy giant says 4.6 billion barrels of reserves at risk Company produces least oil, natural gas in seven years Exxon Mobil Corp. warned it may be facing the biggest reserves Continue Reading