Articles by: Oil & Gas 360

Source: Reuters

Exclusive: Iraq cuts crude oil supplies for most Indian refiners in 2021 – sources

Reuters


NEW DELHI – Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20% for 2021, industry sources said, in a rare move by OPEC’s second-largest producer which is trying to meet its …

January 21, 2021 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Baker Hughes says energy downturn to bottom out this year

Reuters


Oilfield equipment and services provider Baker Hughes Co on Thursday joined larger rival Halliburton Co in saying the energy industry’s worst downturn in decades would turn a corner this year.

Oil and gas producers have been forced to cut …

Source: Reuters

TC Energy to cut 1,000 construction jobs, halt Keystone XL work

Reuters


WINNIPEG, Manitoba/WASHINGTON – TC Energy Corp will eliminate more than 1,000 construction jobs in coming weeks and halt work on the Keystone XL oil pipeline after U.S. President Joe Biden revoked the project’s presidential permit, the company said in …

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

Oil & Gas 360


DENVERJan. 12, 2021 /PRNewswire/ –January 12, 2021 – EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced today a preliminary …

January 20, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: Reuters

Morgan Stanley beats estimates on better-than-expected Wall Street and wealth management results

CNBC


Morgan Stanley on Wednesday posted fourth-quarter profit and revenue that exceeded analysts’ expectations on strong trading, investment banking and wealth management results.

The firm reported a 51% increase in profit to $3.39 billion, or $1.81 per share. When excluding …

January 20, 2021 - 3:30 pm Closing Bell Story‎, Finance
Source: Reuters

The U.S. remains important in the oil market, even if Biden is less vocal than Trump: UAE energy minister

CNBC


The U.S. will always play an important role in global energy markets, even though President-elect Joe Biden is likely to be less vocal than President Donald Trump about oil, the UAE’s energy minister told CNBC ahead of Inauguration Day.…

Source: Reuters

Saudi Arabia pips Russia to be China’s biggest oil supplier in 2020

Reuters


BEIJING/SINGAPORE – Saudi Arabia, the world’s biggest oil exporter, beat Russia to keep its ranking as China’s top crude supplier in 2020, Chinese government data showed on Wednesday.

Oil demand in China, the world’s top oil importer, remained strong …

Source: Reuters

Biden set to rejoin Paris climate accord, impose curbs on U.S. oil industry

Reuters


WASHINGTON  – Incoming U.S. president Joe Biden will announce America’s return to the international Paris Agreement to fight climate change on Wednesday, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global …

Source: Reuters

Biden to revoke KXL pipeline permit in blow to Canada’s oil sector

Reuters


CALGARY, Alberta – U.S. President-elect Joe Biden on Wednesday will revoke the permit needed to build the Keystone XL oil pipeline after being sworn into office, aides said, dashing Ottawa’s hopes of salvaging a project that the struggling Canadian …

Source: Reuters

Facing green push on farm, fertilizer makers look to sea for growth

Reuters


WINNIPEG, Manitoba/OSLO – Two of the world’s biggest fertilizer producers, CF Industries Holdings Inc and Yara International Asa, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the United States and Norway to …

Source: Reuters

Oil above $56 on U.S. stimulus hopes ahead of Biden inauguration

Reuters


LONDON  – Oil rose above $56 a barrel on Wednesday, supported by expectations that the new U.S. administration will deliver massive stimulus spending that would lift demand, as well as by OPEC curbs and forecasts for a drop in …

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

Oil & Gas 360


DENVERJan. 12, 2021 /PRNewswire/ –January 12, 2021 – EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced today a preliminary …

January 19, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: CNBC

SpaceX bought two former Valaris oil rigs to build floating launchpads for its Starship rocket

CNBC


Elon Musk’s SpaceX bought two deepwater oil rigs last year and is converting them into floating launchpads, to support the enormous Starship rockets that the company is developing.

The rigs are in the Port of Brownsville, near SpaceX’s Starship …

January 19, 2021 - 3:30 pm Closing Bell Story‎, Energy News
Source: Reuters

Column: Hedge fund positions in crude, gasoline start to look stretched

Reuters


LONDON  – Hedge funds boosted their bullish petroleum positions last week, focusing on crude and gasoline, betting on continued output restraint by OPEC+ and an early resumption in domestic business activity.

But they sold middle distillates, likely reflecting concerns …

Source: Reuters

Column: China drew on crude oil inventories in December, unlikely to become a trend

Reuters


LAUNCESTON, Australia – China appears to have drawn on its crude stockpiles in December, the second time in three months, as the world’s biggest oil importer uses some of the massive surplus it built up last year.

China processed …

January 19, 2021 - 1:30 pm China, Closing Bell Story‎, Crude Oil News, Energy News
Source: nasdaq

Oil billionaire Dan Wilks takes active stake in hard-hit ProPetro

Reuters


Prominent shale investor Dan Wilks on Tuesday reported a 7.5% active stake in troubled oilfield services firm ProPetro Holding Corp through an investment vehicle, saying he may choose to push the company for a sale or other alternatives.

Dan …

Source: Reuters

Halliburton points to oil industry recovery after profit beat

Reuters


Halliburton Co on Tuesday predicted a recovery in the global oil and gas industry from the second quarter after the oilfield services provider beat profit estimates on cost cuts and modest gains in activity following last year’s slump.

Crude …

Source: Reuters

OPEC “cautiously optimistic” oil market will recover in 2021

Reuters


LONDON – OPEC’s secretary general said on Tuesday he was cautiously optimistic the oil market would recover this year from the slump in demand brought about by the coronavirus pandemic.

Monthly meetings of the Organization of the Petroleum Exporting …

Source: Reuters

Oil gains on hopes for improving demand

Reuters


LONDON – Oil prices climbed on Tuesday as optimism that government stimulus will eventually lift global economic growth and oil demand trumped concerns that renewed COVID-19 lockdowns are cooling fuel consumption.

Brent crude futures for March rose 73 cents, …

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

Oil & Gas 360


DENVERJan. 12, 2021 /PRNewswire/ –January 12, 2021 – EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced today a preliminary …

January 18, 2021 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: Reuters

EU sees carbon border levy as ‘matter of survival’ for industry

Reuters


BRUSSELS  – The European Union’s proposed carbon border charge is essential to the survival of its own industries and the bloc will impose the levy on non-EU competitors unless they commit to lowering their emissions, the bloc’s climate policy …

Source: Reuters

Venezuela slams U.S. court approval of Citgo parent sale as ‘fraudulent’

Reuters


CARACAS – Venezuelan Foreign Minister Jorge Arreaza on Saturday criticized a U.S. court ruling authorizing a sale of the shares in the parent company of U.S. refiner Citgo Petroleum Corp, calling it the result of a “fraudulent judicial process.”…

Source: Reuters

IEA says oil, gas methane emissions down 10% in 2020 as output fell

Reuters


LONDON – Global emissions of the potent greenhouse gas methane from oil and gas production dropped 10% in 2020 mainly because of lower output as opposed to concerted climate action, a report by the International Energy Agency (IEA) found.…

Source: Reuters

Total speeds up renewables push with $2.5 billion investment in Indian solar power

Reuters


PARIS – Total is paying $2.5 billion for a share in Indian renewable energy firm Adani Green Energy Limited (AGEL) and a portfolio of solar power assets, marking the latest step in the French energy company’s drive to reduce …

Source: Reuters

Oil falls on coronavirus fears, strong dollar

Reuters


LONDON – Oil prices fell on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the virus outweighed a better-than-expected quarterly rebound for China’s economy.

Brent crude was …

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

EnerCom and Colorado School of Mines announce preliminary keynote presentations and participating companies at The Energy Venture Investment Summit, February 10 – 11, 2021

Oil & Gas 360


DENVERJan. 12, 2021 /PRNewswire/ –January 12, 2021 – EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced today a preliminary …

January 15, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: CNBC

Oil optimism could be derailed by coronavirus risks, Dan Yergin says

CNBC


SINGAPORE — Oil producer group OPEC left its 2021 forecast for crude demand growth unchanged on expectations of an economic recovery. But that could change, warns energy expert Dan Yergin.

Yergin, vice-chairman at IHS Markit, told CNBC on Friday …

Source: Reuters

Investors storm into alternative energy funds ahead of Biden presidency

Reuters


Investors are rushing to invest in alternative energy funds this year on hopes of more green reforms, with President-elect Joe Biden set to take office next week.

According to Lipper data, alternative energy funds that primarily invest in solar, …

Source: Reuters

SEC launches probe of Exxon on Permian Basin asset valuation: WSJ

Reuters


The U.S Securities and Exchange Commission has launched an investigation of Exxon Mobil Corp , following a whistleblower complaint that the oil major over-valued a key asset in the top U.S. shale field, the Wall street Journal reported on …

January 15, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Regulatory
U.S. rig count increased by 13 this week, at 373

U.S. rig count increased by 13 this week, at 373

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had an increase of 13 over last week, resulting in a total count of 373 rigs. Canada had an increase of 44 over last week, resulting in …