(Bloomberg) – Oil prices likely will trade at about $85-$90 a bbl in the third quarter even if OPEC+ producers and allies decide not to extend current supply cuts, said Gunvor Group Ltd.’s global head of research and …
(Bloomberg) – The chief of the largest U.S. producer of natural gas has warned that a lack of pipelines and storage facilities will trigger dramatic price swings in the years ahead, causing them to surge as much 350%.…
LONDON – Oil prices were broadly steady on Thursday, shored up by a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts for the year.
Brent crude futures for May
(Bloomberg) – Exxon Mobil Corp. won’t move forward with one of the world’s largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities, Chief Executive Officer Darren Woods said during an interview.
Under …
The EIA has released its natural gas inventory report, showing a net increase of 7 Bcf as of March 15, 2024.
Working gas in storage was 2,332 Bcf as of Friday, March …
(WO) – Following news that the Texas State Board of Education (SBOE) and Chairman Aaron Kinsey would terminate an $8.5 billion contract with BlackRock, Texas Railroad Commissioner Wayne Christian applauded the SBOE’s decision, which protects Texas’ Permanent School …
(WO) – During a discussion titled, “Energy security in a volatile world: The importance of markets” at CERAWeek by S&P Global in Houston, Texas, Hess Corp. CEO and namesake John Hess made an impassioned call to refill the …
A total of 70% of passive funds passed off as “sustainable” by five of the largest asset managers in the U.S. and Europe are exposed to companies developing new oil and gas projects, environmental organization Reclaim Finance said …
WO) – During CERAWeek by S&P Global’s second day, ConocoPhillips’ CEO Ryan Lance announced that his firm’s highly-anticipated Willow project in Alaska is making developmental headway.
Sitting down with S&P Global’s Dan Yergin, Lance also discussed Biden’s controversial …
Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day.
Brent crude futures for May were down $1.20 or 1.4% …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 445.0 million barrels, U.S. crude oil inventories …
U.S. oil and gas exploration and production companies spent as much as $234 billion on mergers and acquisitions (M&A) last year—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an …
(Bloomberg) – Chevron Corp.’s discussions with Exxon Mobil Corp. and China’s Cnooc Ltd. over a prolific oil field off the shores of Guyana ended “abruptly” a few weeks ago, Chief Executive Officer Mike Wirth said.
Chevron held constructive …
HOUSTON – The United States should not flip-flop on its gas export policy, Hess CEO John Hess said on Tuesday.
U.S. President Joe Biden’s administration has hit pause on permits for new liquefied natural gas (LNG) export plants …
(Bloomberg) – Exxon Mobil Corp. is open to talking to Chevron Corp. about its proposed takeover of Hess Corp. as the oil giants spar over the deal’s implications for a massive offshore oil project in Guyana, Chief Executive …
LONDON -Oil prices hit four-month highs on Tuesday after breaking above range-bound trading last week, but gains were capped by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity.
The …
ExxonMobil announced yet another discovery in its coveted Stabroek block in Guyana. The Bluefin well encountered 197 feet of hydrocarbon-bearing sandstone in 4,244 feet of water, adding to Exxon’s growing list of over 30 oil discoveries …
HOUSTON – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large scale move to clean fuels.
Global …
(Bloomberg) – The boss of Exxon Mobil Corp. said Monday that it has no interest in buying Hess Corp. outright, despite taking Chevron Corp. to arbitration over its proposed $52 billion merger with the other company.
“If we …
Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out the fossil fuels, Saudi Aramco CEO Amin …
(Bloomberg) – House Republicans have launched a second probe of the Biden administration’s move to pause liquefied natural gas (LNG) export approvals, questioning if election-year politics played a role in the decision.
The House Committee on Oversight and …
Brent crude briefly topped $86 per barrel on Monday for the first time since November, before pulling back, as Ukraine stepped up its attacks on Russian energy infrastructure.
Brent crude oil futures for May delivery were up 51 cents …
Lithium Americas Corp has received a conditional commitment for a $2.26-billion loan from the U.S. Department of Energy to help it build lithium processing facilities in Nevada, as the Biden Administration looks to support America-produced lithium and reduce …
WASHINGTON – The U.S. is seeking to buy 3 million barrels of oil for the Strategic Petroleum Reserve (SPR), as one storage site winds down maintenance that had tempered the pace of replenishing the stockpile, the U.S. Energy Department …
The U.S. Export-Import Bank approved a loan guarantee of $500 million for a Bahrain oil project despite opposition from Democrats noting the move would compromise the Biden administration’s hard line on climate change.
Last month, the Export-Import Bank …
This week’s Baker Hughes Rig Count shows that U.S. had an increase of 7 over last week, resulting in a total count of 629 rigs. Canada had a decrease of 18 over last week, resulting in …
BP and Venezuela are jointly discussing the development of a gas field in Trinidad and Tobago, which the island nation shares with Venezuela.
“BP can confirm that it is in discussions with the government of Trinidad and Tobago …
Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecast and an unexpected decline in U.S. stockpiles.
Brent crude …
Liberty Energy Inc. comments on stay of SEC climate rule and need for affordable, reliable energy to better human lives
Oil and Gas 360
Publisher’s Note: Liberty Energy Chief Executive Officer Chris Wright will be a keynote speaker at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024.
March 20, 2024