(Oil Price) – Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you’d be forgiven for assuming the shale patch was in full panic mode. But U.S. Energy Secretary Chris Wright—former CEO of Liberty
(Investing) – bp today announced an oil discovery at the Far South prospect in the deepwater U.S. Gulf of America/Gulf of Mexico. bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. The well was drilled to a total depth of
(Oil Price) – Last week’s price crash, which saw Brent Crude prices dip below $60 per barre, was an excessive market reaction to the U.S. tariffs, with speculators assuming there would be no growth in oil demand due to recession fears, Gunvor’s head of research Frederic Lasserre told Bloomberg. “I think the market overreacted,” Lasserre told Bloomberg in an interview, commenting on last week’s
(BOE Report) – CALGARY – Hundreds of kilometres up the Pacific coast from where Canada’s first liquefied natural gas export terminal is set to start up this summer, a monster lays dormant. Alaska has long had ambitions to ship its natural gas to international markets, but the cost and scale of such an undertaking has held it back for decades. But
(World Oil) – Nabors Drilling Technologies and Corva AI announce the expansion of their strategic alliance, reinforcing the shared vision to accelerate digital transformation in the drilling industry. Building on the strategic alliance, Nabors and Corva are extending their collaboration into the RigCLOUD® platform to advance drilling intelligence and broaden industry impact. “RigCLOUD® Powered by Corva” is a fully integrated drilling intelligence solution that
(Investing) – HOUSTON – Oil prices held steady on Monday as exemptions for some electronics goods from U.S. tariffs and data showing a sharp rebound in China’s crude imports in March, were outweighed by concerns that the trade war could weaken global economic growth and dent fuel demand. Brent crude futures were flat at $64.76 at 11:19 a.m. ET (1519 GMT). U.S.
