Shadow Lenders Take Over In The U.S. Shale Patch
Banks have started to cut their exposure to the U.S. shale patch, seeing more than 100 producers and oilfield services firms go bust last year and feeling the environmental, social, Continue Reading
Oil Prices Spike On Large Crude Inventory Draw
Crude oil prices jumped higher today after the Energy Information Administration reported an inventory decline of 6.7 million barrels for the week to June 25. This compares with a draw Continue Reading
Goldman Sachs: Oil Markets To See Deficit Of 5 Million Bpd By End 2021
The oil market will end 2021 in a deficit of 5 million bpd as demand grows by another 2.2 million bpd in the second half of the year, Goldman Sachs Continue Reading
Big Oil’s Digital Pivot Marks The Beginning Of A New Era For The Industry
The oil and gas industry is embracing new technologies to save time and costs and, most recently, to reduce the carbon footprint of its supply chain as the energy sector Continue Reading
Chevron to sell some Permian assets valued at more than $1 bln -sources
Chevron Corp (CVX.N) is looking to sell two collections of conventional oil and gas fields in the Permian Basin valued at more than $1 billion combined, three sources told Reuters. Continue Reading
Goldman says more OPEC+ supply needed to balance oil market
Goldman Sachs Commodities Research said more oil production is needed from the Organization of the Petroleum Exporting Countries and allies (OPEC+) to balance the market by 2022 as supply risk Continue Reading
U.S. Oil Inventories Fall For Sixth Straight Week
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.153-million barrels for the week ending June 25. Analysts had predicted a draw of 4.686 Continue Reading
How Last Century’s Oil Wells Are Messing With Texas Right Now
Ranchers and regulators are contending with uncontrolled leaks from thousands of abandoned oil and gas sites that could render some land “functionally uninhabitable.” Water testing crews looking for contaminants collect Continue Reading
Old, small and CO2-intense: why Canada’s highest-carbon oil sands sites keep pumping
In the shadow of Canada’s mega oil sands projects, smaller, technologically outdated facilities produce up to three times more emissions per barrel than the already high sector average- and rising Continue Reading
U.S. shale industry tempers output even as oil price jumps
A pump jack operates in the Permian Basin oil and natural gas production area near Odessa, Texas, U.S., February 10, 2019. Picture taken February 10, 2019. REUTERS/Nick Oxford/Files Oil price Continue Reading