Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States slowing growth and hitting fuel demand.
U.S. …
(Bloomberg) – U.S. Energy Secretary Jennifer Granholm praised oil executives for boosting output and lauded the industry’s “creative visionaries” in an attempt to ease tensions between the Biden administration and fossil-fuel producers.
“The U.S. has become, in this …
Oil steadied on Thursday after a two-day decline as strike-disrupted fuel supply in France, a drop in U.S. crude inventories and a weaker dollar offset fears over the economic impact of rising interest rates.
TotalEnergies was unable to …
Crude oil prices started this week with a loss. The reason for that initial weekly loss came down to overall global economic growth pessimism and expectations that the U.S. Federal Reserve will continue raising interest rates, making the …
Warren Buffett’s Berkshire Hathaway added to its already large Occidental Petroleum stake over the past trading sessions, a regulatory filing revealed Tuesday evening.
The Omaha, Nebraska-based conglomerate bought nearly 5.8 million shares of the oil company in …
(Bloomberg) – Booming oil production out of shale patch Vaca Muerta will create surpluses in energy trade for Argentina to the tune of $8 billion within a few years, Energy Undersecretary Flavia Royon said in an interview.
Drilling …
Barclays cut its 2023 oil price forecasts on Wednesday, due in part to more resilient output from Russia than expected, and said the market could flip into a deficit in the second half of the year due to …
U.S. natural gas futures declined about 2% on Wednesday after data showed the amount of gas flowing to Freeport LNG’s export plant in Texas had dropped and forecasts indicated the weather in the near term would be warmer than …
(Bloomberg) – OPEC Chief Haitham Al-Ghais broke bread with U.S. shale leaders Monday night in his first meeting with the producers since he took the helm of the oil group in July.
At the table, which included Occidental …
(WO) – The latest analysis from McKinsey & Company (McKinsey) reveals that oil and gas industry costs could increase between 6 to 10% in 2023 due to labor uncertainties and raw-materials inflation.
The analysis uncovers that primary operation …
Oil prices edged lower on Tuesday as a stronger U.S. dollar and weak oil data from top crude importer China shifted momentum after five days of gains.
U.S. West Texas Intermediate crude was down 41 cents, or 0.51%, …
(WO) — Chevron Corporation reported on its progress to leverage its strengths to safely deliver lower carbon energy to a growing world at its annual investor meeting.
“Chevron intends to be a leader in both traditional and …
Crude oil inventories in the United States saw another significant increase, with a 6.203 million barrel increase last week, the American Petroleum Institute (API) data showed on Tuesday, bringing the total number of barrels gained so far this …
CALGARY – The Canadian Association of Petroleum Producers says it expects investment in oil and natural gas production in this country to hit $40 billion this year.
The industry group says that’s 11 per cent higher than …
(Bloomberg) — In a windswept desert southwest of Buenos Aires, black steel tubes the length of school buses extend in a line toward the horizon. The scene is the clearest sign yet that one of the world’s biggest …
Oil prices edged lower on Monday as a stronger dollar discouraged buying though losses were limited by supply concerns after Russia halted exports to Poland via a key pipeline.
West Texas Intermediate U.S. crude futures (WTI) traded at …
A proposed bill in California to introduce penalties on the excess profits of oil companies is not making advances in the state legislature and even some Democrats are questioning its implementation and the possible benefits for consumers.
Saudi Arabia received as much as $326 billion in oil revenues for 2022, its biggest oil sales haul in the era of Crown Prince Mohammed bin Salman, although monthly revenues have been lower in recent months after oil …
Oil prices fell on Tuesday, reversing the previous day’s gain, as fears that a global economic slowdown, and drop in fuel demand, amid aggressive interest rate hikes by the U.S. central bank prompted investors to take profits.
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With the success of the energy transition closely tied to the ability to store solar and wind power, battery manufacturers are zeroing in on Latin America’s so-called lithium triangle of Argentina, Bolivia and Chile.
These three countries alone …
Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp said today on the sidelines of the Argus Americas Crude summit.
“A key change in flow is U.S. crude going to …
(Bloomberg) — Saudi Arabia’s energy minister said oil production cuts announced last year by OPEC+ show the group’s readiness to be flexible.
The kingdom and other members of the OPEC+ coalition have already signaled the group will …
(Bloomberg) – The United Arab Emirates’ national oil company plans to raise $2 billion or more by listing its natural gas business in what could the largest initial public offering so far this year.
Abu Dhabi National …
Bloomberg) — The OPEC+ alliance plans to stick with an oil deal agreed in late 2022 for the rest of the year, Saudi Arabia’s energy minister said, reinforcing earlier signals from the group.
In October, OPEC …
Oil fell about 2% on Friday and was heading for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply.
Two Fed officials …
DENVER, Feb. 16, 2023 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) announced today that its Board of Directors declared an increase to its quarterly cash dividend from $0.35 to $0.40 per share …
Oil prices fluctuated in a narrow range on Thursday as the market weighed mixed U.S. economic signals and prospects for a Chinese demand recovery with a build in U.S. crude stocks and stronger dollar.
Brent crude futures rose …
Cenovus Energy Inc posted a net profit for the fourth quarter on Thursday, compared with a loss last year, and said Chief Operating Officer Jon McKenzie would become its president and chief executive officer.
McKenzie, who was …
