U.S. oil output decelerates in response to lower prices: Kemp
The second U.S. shale oil drilling boom has started to cool as a decline in oil prices since the end of the third quarter of 2018 filters through to lower Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending April 26, 2019 U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending April 26, 2019, Continue Reading
Analysis: US crude stocks surge as record production, rising imports swamps Gulf Coast storage
Highlights Commercial crude stocks up 9.93 million barrels at 470.57 million barrels Imports notch 10-week high at 7.41 million b/d Refinery utilization falls below 90% on Midwest turnarounds New York Continue Reading
Infographic: Midland vs. Baghdad: Texas tops Iraqi oil output
Texas has pumped more oil than Iraq, OPEC’s No. 2 producer, for six months in a row, a lead the Lone Star State will keep for the foreseeable future — Continue Reading
Trump Admin Expected to Ease Post-Macondo Drilling Rules
The Trump administration is poised to relax offshore drilling requirements imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration is poised to relax offshore drilling Continue Reading
Transocean sees increase in offshore projects amid crude price rebound
Swiss driller Transocean’s customers are moving ahead with more offshore projects amid a rebound in crude oil prices and the continued improvement in offshore economics, company executives said Tuesday. Transocean Continue Reading
U.S. crude output declines in Feb for second month
U.S. crude oil production fell 187,000 barrels per day in February to 11.7 million bpd as output dropped in the Gulf of Mexico and key on-shore oil-producing states including Oklahoma Continue Reading
Berkshire to Invest $10 Billion in Occidental Petroleum to Finance Anadarko Bid
Warren Buffett’s Berkshire Hathaway Inc. agreed to inject $10 billion into Occidental Petroleum Corp.’s bid to acquire Anadarko Petroleum Corp. and fight off Chevron Corp. Last week, Houston-based Occidental offered Continue Reading
Buffett To Back Occidental With $10B In Bidding War For Anadarko
Warren Buffett’s Berkshire Hathaway has committed to invest US$10 billion in equity in Occidental Petroleum if Occidental completes its proposed acquisition of Anadarko, Occidental said on Tuesday, a day after Continue Reading
ConocoPhillips’ Lower 48 ‘Big Three’ production flat in Q1 but will grow later in 2019
Highlights Q1 output was 326,000 boe/d from the three plays First-half 2019 seen flat, but growing later in year Long-term capex plan under $7 billion/year: CEO Lance Houston — ConocoPhillips’ Continue Reading