Oil Markets Baffled As The IEA Calls For More Production
In its latest Monthly Oil Report, the IEA called on OPEC+ to increase production in order to counter higher demand in 2022. The agency claimed that, based on current global Continue Reading
Remote Work Is The Newest Trend In Oil And Gas
Remote work was one of the changes bestowed upon us by the pandemic—and it may turn into a long-term trend. This trend was most visible in office jobs, but it Continue Reading
Shell considering sale of holdings in largest U.S. oil field, worth up to $10 billion
Oil giant Royal Dutch Shell is reviewing its holdings in the largest oil field in the United States for a possible sale as the company looks to focus on its Continue Reading
U.S. Oil Rig Count Rises As Crude Prices Climb Higher
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 461 as U.S. drillers Continue Reading
Peak Internal Combustion Engine May Already Be Years Behind Us
The world hit a transport milestone in 2017, though most people wouldn’t have noticed it at the time. That year, consumers bought more than 85 million automobiles, a sales volume that Continue Reading
Occidental to sell some Permian basin assets for $508 mln
Occidental Petroleum Corp (OXY.N) said on Thursday it would sell some of its acreage in Texas’ Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for Continue Reading
US oil, gas rig count climbs 8 to 560 on strong Permian activity
The US oil and gas rig count climbed eight to 560 in the week ended June 9, rig data provider Enverus said June 10, as the number of oil-focused rigs Continue Reading
Earthquakes on Record-Breaking Pace in U.S. Shale, Study Finds
The number of earthquakes rattling the U.S. shale patch is growing exponentially as producers pump massive amounts of dirty water from their oil and gas wells back underground. Tremors registering at Continue Reading
Dealmaking In U.S. Shale Patch Heats Up As Oil Prices Rise
Rising oil prices are encouraging U.S. shale producers to put up for sale non-core assets to streamline operations and reduce debt. Property sales have accelerated this year as exploration and Continue Reading
US refined product stocks climb on stronger refinery runs, weaker demand
Highlights Gasoline stocks climb 7.05 million barrels Implied gasoline demand hits 12-week low Crude stocks fall 5.24 million barrels US refined product inventories were sharply higher in the week ended Continue Reading