Will U.S. Crude Oil Exports Smash Records Again This Year?
Crude oil and refined petroleum product exports from the United States hit a record high last year, turning the country into a net exporter. This year, as more economies are Continue Reading
Oil Investment Lags Jump In Crude Prices
Investment in new oil and gas projects last year sank to the lowest in 15 years at $350 billion. As the world continues its battle against Covid-19 and as the Continue Reading
Russia Hikes Oil Output in April as Its OPEC+ Quota Rises
Russia increased its oil production in April thanks to a more generous OPEC+ quota. The nation pumped 42.81 million tons of crude and condensate last month, according to preliminary data from Continue Reading
Texas Freeze Exacted Even Worse Toll Than Estimated on U.S. Oil
An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, Continue Reading
U.S. Rig Count Increases To 440 Rigs
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 440. In Continue Reading
M&A Activity In Oil And Gas Drops In March
Mergers and acquisitions in U.S. oil and gas fell by 1.49 percent below the 12-month average last month, according to GlobalData . The biggest deal by far for the month Continue Reading
Oil Trading Giant Looks To Enter The Permian Through Major Asset Sale
Commodity trading major Vitol is reportedly negotiating a deal to acquire the oil wells of Hunt Oil Co. in the Permian Basin. According to Bloomberg , which cited unnamed sources, Continue Reading
Commodity trader Vitol acquires Midland Basin shale acreage in US from Hunt Oil
Upstream assets producing around 40,000 boe/d Associated gas ties in to North American interests Vitol, the world’s largest independent oil trader, has agreed to acquire producing acreage in the Permian’s Continue Reading
Shale CEO Sees Producers Staying Disciplined at $70 Crude Oil
America’s shale producers will keep output in check even as global crude oil prices near $70 a barrel, Ovintiv Inc. Chief Executive Officer Doug Suttles said in an interview with Bloomberg Continue Reading
US land drillers see improving activity in 2021 as E&Ps expand operating spheres
US land drillers’ rig counts are continuing to inch forward, and exploration and production companies are enjoying lower costs as they reap the benefits of efficiency improvements, with increasing activity Continue Reading