Articles by: Oil & Gas 360

Source: CNBC

Oil drops on India’s COVID-19 crisis, pipeline resumption

CNBC


Oil prices fell more than 2% on Thursday as India’s coronavirus crisis deepened and a key U.S. pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound …

Source: Reuters

Exclusive: Biofuels processor POET in talks to acquire Flint Hills’ ethanol assets – companies

Reuters


NEW YORK – POET, the largest biofuels producer in the United States, is in discussions with Flint Hills Resources to acquire the entirety of Flint Hills’ ethanol assets, both companies told Reuters on Thursday.

The deal would increase POET’s …

Source: Reuters

Renewables evolution or revolution? Pace of tech investments will decide

Reuters


Global investment in energy transition technologies needs to more than double over the next few decades to significantly reduce the cost of renewables, which are set to provide around 60% of the world’s energy needs by 2050, industry officials …

Source: Reuters

Colonial Pipeline paid hackers nearly $5 million in ransom – Bloomberg News

Reuters


Colonial Pipeline paid nearly $5 million to Eastern European hackers on Friday after a crippling cyberattack that shut the largest fuel pipeline network in the United States, Bloomberg News reported, citing two people familiar with the transaction.

The company

Weekly Gas Storage: Inventories increase by 71 Bcf

Weekly Gas Storage: Inventories increase by 71 Bcf

Natural Gas Inventories as of May 7, 2021

The EIA has released its natural gas inventory report, showing a net increase of 71 Bcf as of May 7, 2021.

Working gas in storage was 2,029 Bcf as of Friday, May …

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

Institutional investors, portfolio managers, financial analysts, CIOs and other investment community …

Exclusive 360 Energy Expert Network Video Discussion: Renewable Natural Gas Creates Path for Net-Zero Carbon

Exclusive 360 Energy Expert Network Video Discussion: Renewable Natural Gas Creates Path for Net-Zero Carbon

Publisher's Note:

Renewable Natural Gas (RNG) is rapidly gaining momentum as a key strategy for energy, technology, manufacturing and utility companies to achieve their net-zero carbon emissions goals. On April 7th Rice Acquisition Corp. (NYSE: RICE), a Special Acquisition

Source: Reuters

IEA sees oil demand recovery outpacing growth in supply

Reuters


LONDON -Oil demand is already outstripping supply and the shortfall is expected to widen even if Iran boosts exports as vaccinations against COVID-19 bolster the global economy, the International Energy Agency (IEA) said on Wednesday.

“The anticipated supply growth …

Big Oil won’t become major investors in renewable technology even as investment soars, IEA analyst says

Big Oil won’t become major investors in renewable technology even as investment soars, IEA analyst says

CNBC


Oil companies will increase their investment in renewables over the coming years but won’t become major investors in the technology that underpins the sector, according to a lead author of the International Energy Agency’s Renewable Energy Market Update.

Speaking …

Source: Reuters

Analysis-Cyberattack exposes lack of required defenses on U.S. pipelines

Reuters


WASHINGTON -The shutdown of the biggest U.S. fuel pipeline by a ransomware attack highlights a systemic vulnerability: Pipeline operators have no requirement to implement cyber defenses.

 

The U.S. government has had robust, compulsory cybersecurity protocols for most of …

Source: Reuters

U.S. Chesapeake Energy says no board members interviewing to take up CEO post

Reuters


Chesapeake Energy Corp CHK.O said on Wednesday no members of its board of directors were interviewing to take over from former chief executive Doug Lawler, who resigned last month after leading the company through its Chapter 11 bankruptcy.

Interim-CEO …

Source: Reuters

Oil climbs on drop in U.S. oil stockpiles, solid demand outlook

Nasdaq


MELBOURNE- (Reuters) – Oil prices rose on Wednesday, extending overnight gains, after industry data showed a drop in U.S. crude inventories, which reinforced OPEC’s robust demand outlook, and as the shutdown of the biggest U.S. fuel pipeline headed into …

U.S. crude oil inventories decrease by 0.4 million barrels

U.S. crude oil inventories decrease by 0.4 million barrels

Weekly Crude Oil Storage as of May 7, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 484.7 million barrels, U.S. crude oil …

Exclusive 360 Energy Expert Network Video Discussion: Renewable Natural Gas Creates Path for Net-Zero Carbon

Exclusive 360 Energy Expert Network Video Discussion: Renewable Natural Gas Creates Path for Net-Zero Carbon

Publishers Note:

Renewable Natural Gas (RNG) is rapidly gaining momentum as a key strategy for energy, technology, manufacturing and utility companies to achieve their net-zero carbon emissions goals. On April 7th Rice Acquisition Corp. (NYSE: RICE), a Special Acquisition

Haynes and Boone: Monthly Energy Tracker Call – The current energy issues involving capital markets, finance and restructuring in the oil patch

Haynes and Boone: Monthly Energy Tracker Call – The current energy issues involving capital markets, finance and restructuring in the oil patch

Current Business and legal issues in the oil and Gas Market

Publisher's Note: In case you missed it! Click below to hear the Monthly Energy Tracker Replay Call (05/11/2021). Sign up below to register for future events and our daily

Source: CNBC

Big Oil and its green ambitions could be about to get a serious reality check

CNBC


LONDON — The month of May promises to be a ground-breaking one for Big Oil.

Oil and gas majors on both sides of the Atlantic are preparing to hold their annual shareholder meetings in the coming weeks. It comes …

Source: Reuters

OPEC pins oil demand hopes on second-half recovery as India dents Q2

Reuters


LONDON – OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the United States counters the coronavirus crisis in India, an outlook that bolsters the group’s …

Source: Reuters

U.S. fuel supplies tighten as pipeline outage drags on

Reuters


Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps heading into the …

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

DENVER – May 4, 2021 (PR Newswire) Institutional investors, portfolio managers, …

Source: Reuters

Low carbon world needs $1.7 trillion in mining investment

Reuters


LONDON – Mining companies need to invest nearly $1.7 trillion in the next 15 years to help supply enough copper, cobalt, nickel and other metals needed for the shift to a low carbon world, according to consultancy Wood Mackenzie.…

May 10, 2021 - 3:30 pm Renewable/Green/Eco Energy, Uncategorized
Source: Reuters

Traders book tankers in Europe to ship gasoline across Atlantic after Colonial shutdown

Reuters


LONDON – Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States’ top fuel pipeline network, Refinitiv Eikon data showed on Monday.

The attack forced

Source: CNBC

Oil gains after cyberattack forces shutdown of U.S. fuel pipelines

CNBC


Oil rose on Monday after major U.S. fuel pipeline operator Colonial Pipeline had to shut fuel pipelines due to a cyberattack, raising concerns about supply disruption and pump price increases.

 

Colonial Pipeline said on Sunday its main fuel …

Source: Reuters

Top U.S. fuel pipeline down for fourth day as hackers issue statement

Reuters


NEW YORK  – The U.S. government and the top fuel pipeline operator in the United States on Monday worked to secure the network that transports nearly half of the East Coast’s fuel supplies, as the group suspected of a …

Source: Reuters

BP says it will stick with top U.S. oil lobby after climate shift

Reuters


LONDON – BP said on Monday it will remain a member of the American Petroleum Institute (API) after the largest U.S. oil and gas trade lobby group addressed some differences with the British energy company over climate change.

BP, …

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – An new Colorado Energy Leader and the State’s First Net-Zero Oil & Gas Producer

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – An new Colorado Energy Leader and the State’s First Net-Zero Oil & Gas Producer

DENVER, May 10, 2021 /PRNewswire/ — Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek”) and Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”), today announced that they have entered into a definitive agreement to combine in an all-stock merger of …

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

DENVER – May 4, 2021 (PR Newswire) Institutional investors, portfolio managers, …

Source: Reuters

Texas governor backs Exxon Mobil petition in climate case

Reuters


The governor of Texas in an unusual move on Thursday asked the state’s Supreme Court to accept an Exxon Mobil Corp (NYSE:XOM) petition seeking to reverse a state court decision in a climate change case.

California municipal …

EOG Resources beats profit estimate as crude prices rebound

EOG Resources beats profit estimate as crude prices rebound

Reuters


US oil and gas producer EOG Resources Inc (EOG.N) surpassed analysts’ first-quarter profit forecast and announced a special dividend of $ 1 per share on Thursday due to the launch of COVID-19 vaccines and increased travel demand driving crude …

Source: BOE Report

Canada’s Alberta temporarily tweaks environmental liability for oil sands mines

BOE Report


The province of Alberta said on Thursday it will allow oil sands mining companies to change how they calculate environmental liabilities this year, to take into account the wild swings of 2020, when oil prices turned negative.

Producers …

Source: Reuters

Oil prices set for weekly gain despite India virus surge

Reuters


LONDON – Oil prices steadied on Friday and were set for a weekly gain against the backdrop of optimism over a global economic recovery, though the COVID-19 crisis in India capped prices.

Brent crude futures were up 1 cent