Benchmark Brent oil climbed above $100 a barrel on Wednesday after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic
(Bloomberg) — Saudi Arabia’s oil exports reached $31 billion in June, the highest in at least six years, driven by a rally in prices and rising production.
Monthly crude exports topped more than $1 billion a day …
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LONDON: Oil prices fell on Monday in volatile trading, ending three days of gains, on fears aggressive US interest rate hikes may lead to a global economic slowdown and dent fuel demand.
Brent crude futures for October settlement …
MINNEAPOLIS–(BUSINESS WIRE)– Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced that it has entered into an agreement to acquire properties in the Midland Basin.
HIGHLIGHTS
(Bloomberg) — Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region.
The producer and joint venture partner Repsol SA took a final investment decision
Permex Petroleum Corporation, a junior oil and gas company based in Dallas, was approved for a permit to drill on its property in Martin County, Texas.
“The approval of our permit to drill within the highly sought-after …
(Bloomberg) — It’s been a blockbuster summer for major oil companies. Exxon Mobil Corp. and Chevron Corp. posted record profits thanks to surging energy prices. The new U.S. climate bill includes concessions to oil and gas companies.
…
(Bloomberg) — Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector.
A $1.28 billion …
Oil prices fell by more than $5 a barrel on Monday after disappointing Chinese economic data renewed concerns of a global recession that would be expected to reduce fuel demand.
Brent crude futures fell $3.88, or 4%, …
LONDON – OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus
Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil.
gained …
U.S. shale oil producer EOG Resources on Friday said it expects to deliver roughly 4% oil and gas volume growth this year, and hold a similar trajectory in 2023, as inflation and supply chain problems continue to snarl
LONDON/DUBAI – OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the …
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Publisher’s Note: BPX Energy will be the lunch keynote on Monday, August 8, 2022 at EnerCom Denver- The Energy Investment Conference. Please register and schedule your one-on-one meetings with presenters at EnerCom Denver.
LONDON — U.K. oil giant …
LONDON – Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight
(Bloomberg) — Shale explorers are searching for oil at rates not seen since the early weeks of the pandemic as high crude prices incentivize drilling.
Oil rigs operating in US fields increased by 6 this week …
HOUSTON – Exxon Mobil Corp on Friday posted its biggest quarterly profit ever on the back of soaring energy prices and as it kept a tight rein on spending.
The top U.S. oil producer reported second-quarter net …
HOUSTON – Oil prices rose over 1% on Monday, bolstered by supply fears, a dip in the U.S. dollar and stronger equity markets, but prices seesawed as some worried rising U.S. interest rates would weaken fuel demand.
Brent
(Bloomberg) — Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April.
The OPEC member, home to Africa’s largest crude …
(Bloomberg) — Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers.
Citing the biggest jump in demand for its services in more …
(Bloomberg) — A U.S. energy envoy said he is confident Persian Gulf producers will increase oil output after President Joe Biden’s visit to Saudi Arabia, where he met with regional leaders.
“Based on what we heard on …
(Bloomberg) — Mewbourne Oil Co., the largest private oil producer in the U.S., said it will remain in the hands of its controlling family after the recent death of its eponymous founder.
Curtis Mewbourne, who started the company …
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(Bloomberg) — More U.S. shale producers should aim for net-zero emissions, while drillers that have already made climate …
(Bloomberg) — President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers.
Biden’s trip didn’t result in an immediate …
When French President Emmanuel Macron whispered in Joe Biden’s ear last month that top global oil exporter Saudi Arabia has very little additional capacity to increase output, the U.S. President looked surprised.
Biden is due to land in Riyadh …
NEWCASTLE & HOUSTON, July 5, 2022 — TechnipFMC (NYSE: FTI) has signed a Letter of Intent with Equinor Energy do Brazil Ltda., a subsidiary of Equinor ASA (Equinor), for an integrated Front End Engineering and Design …
