Permian Basin light sweet crude WTI Midland fell to its lowest level in more than three and a half years Tuesday, with rising production and limited takeaway capacity pushing down Continue Reading
The Permian shale play is all about setting records. Now, the region will probably become the world’s largest oil patch over the next decade. Output in the basin is forecast Continue Reading
The U.S. shale industry is widely expected to become cash flow positive for the first time. For years, even when oil prices were high prior to the 2014 meltdown, shale Continue Reading
Shell, Statoil to proceed with eight-well subsea project southeast of New Orleans. Shell Offshore, Inc. will proceed with the Vito deep-water development in the U.S. Gulf of Mexico. The Royal Continue Reading
Oilfield services provider Halliburton Co ( HAL.N ) reported a 34 percent jump in first-quarter revenue on Monday as North American companies boosted oil and gas production amid rising oil Continue Reading
Europe’s largest bank has joined the list of global investors retreating from new financial commitments in the fossil fuel industry, including investments in oil-rich Alberta. HSBC, whose global assets total Continue Reading
The US shale oil revolution has reached a landmark moment, with the sector’s top companies for the first time earning enough cash to cover the cost of new wells. Since Continue Reading
Oil has rallied sharply in recent days to see West Texas Intermediate (WTI) trading at just under $70 per barrel and Brent breaking through the $70 per barrel mark, with Continue Reading
U.S. President Donald Trump’s assertion that OPEC is propping up oil prices amid oversupply and an excess of floating storage has a problem: it’s only half true. While OPEC has Continue Reading
Oil is created from the decomposition of organic materials , which are under extreme heat and pressure over a period of millions of years. Oil is more common than you Continue Reading
