More Curtailed US Oil Production Coming Back Online
Houston-based Noble Energy plans to bring back by the end of July most of the oil production it had curtailed in the second quarter in response to the plunge in Continue Reading
North American Oil And Gas Companies Continue To Go Bankrupt At $40 Oil
The rash of oil and gas bankruptcies in North America is set to continue for the remainder of 2020, a report by Haynes and Boone cited by Reuters shows. After Continue Reading
Demand Crash Led To Biggest Monthly Surge in US Oil Inventories Since 1920
The oil demand crash in April, when most of America was under stay-at-home orders, resulted in the biggest monthly inventory jump in U.S. commercial crude oil inventories in data going Continue Reading
US oil, gas rig counts fall by 6 to 279 on week, Permian loses more: Enverus
The US oil and natural gas rig count dropped by six rigs on the week to 279, rig data provider Enverus said, as domestic plays continued largely stabilizing without yet Continue Reading
Summary of Weekly Petroleum Data for the week ending July 3, 2020
U.S. crude oil refinery inputs averaged 14.3 million barrels per day during the week ending July 3, 2020 which was 315,000 barrels per day more than the previous week’s average. Continue Reading
Texas Oil, Gas Drilling Permits Fell By A Third
The number of oil and gas drilling permits in Texas fell by a third in June from a year earlier, the state’s oil and gas regulator body said on Tuesday. Continue Reading
Nearly 94,000 OFS Job Losses Tied to COVID-19
The U.S. OFS job count fell 12.3 percent from February to June of this year, based on BLS data. The tally of oilfield services and equipment (OFS) sector job losses Continue Reading
Researchers Look For Ways To Cut Norway’s Gargantuan $100 Billion Decommissionin
A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, Continue Reading
In The Physical Oil Market, Sour Barrels Trade at Sweet Prices
Leaving behind the waters of the Caribbean Sea, the 1,100-feet long oil tanker Maran Apollo is emblematic of the wider petroleum market. Steaming at 11.5 knots, she’s heading toward China, where Continue Reading
FUJAIRAH DATA: Stockpiles slump to two-month low, light distillates down 9%
Stockpiles of light, middle and heavy distillates at the oil trading and bunkering hub of Fujairah declined to a two-month low July 6, extending declines from the record set in Continue Reading