Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP.
The oil and …
FRISCO, TX, Feb. 14, 2023 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) today reported financial and operating results for the quarter and year ended December 31, 2022.
Highlights
Oil prices extends losses on Wednesday as a much bigger-than-expected surge in the U.S. crude inventories and expectations of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession.
U.S. West …
LONDON – OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year’s figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and …
U.S. electricity generators are expected to use more natural gas at the expense of coal in the coming months due to the falling prices of domestic natural gas futures.
The benchmark U.S. natural gas prices have slumped …
Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, defying expectations from some traders that the release could be cancelled or delayed.…
Goldman Sachs still expects Brent Crude prices to hit $100 per barrel this year, but only in December compared to earlier expectations of $100 oil as soon as mid-2023, the bank said in a new note in which …
MOSCOW (AP) — Russia announced Friday that will cut oil production by 500,000 barrels per day next month after Western countries capped the price of its crude over its action in Ukraine.
“As of today, we fully sell …
TOKYO – Oil prices advanced on Friday and were heading for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide.
Brent crude …
When the energy crisis hit a nadir two years ago, highly indebted E&P companies quickly changed their operational playbook, adopting stricter cost discipline, cutting back on expensive drilling programs and vowing to return more cash to shareholders in …
A 46% drop in natural gas prices this year is rippling across the U.S. shale patch, threatening to slow drilling and chill deal-making in a move unthinkable six months ago as global demand soared.
Analysts are chopping their outlook …
LONDON – Big Oil more than doubled its profits in 2022 to $219 billion, smashing previous records in a year of volatile energy prices where Russia’s invasion of Ukraine reshaped global energy markets and, in some cases, the industry’s …
LONDON – Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.
Most of the winners from the sanctions are based in China, …
Oil prices rose early on Wednesday, extending gains from the previous two days, as the dollar fell after Federal Reserve Chair Jerome Powell sounded less hawkish on interest rates than markets had expected and as U.S. crude stocks …
(Bloomberg) — OPEC’s top official said he sees a “more upbeat” economic outlook as China reopens after several years of virus restrictions.
“There’s a positive mood and optimism, which I must always say is cautious optimism,” Secretary-General …
California’s Governor Gavin Newsom has called on the federal authorities to launch an investigation into the soaring natural gas prices in California and the rest of the Western U.S., as customers have been warned they would receive high …
LONDON – BP reported on Tuesday a record profit of $28 billion for 2022 and hiked its dividend, but infuriated climate activists by rowing back on plans to slash oil and gas output and reduce carbon emissions by …
LONDON- Goldman Sachs Asset Management said on Monday it had launched a biomethane business called Verdalia Bioenergy and aimed to invest more than 1 billion euros ($1.08 billion) in Europe over the next four years.
Biomethane, a lower carbon …
On Monday, Saudi Arabia raised the official selling price of its flagship crude going to Asia in March. The hike, which was the first in six months, was due to expectations of a rebound in Chinese demand.
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BAGHDAD – Iraq will discuss with Washington this week how to pay dues owed to Russian oil companies despite sanctions, Foreign Minister Fuad Hussein said on Monday.
“We will discuss this problem with the American side. There
Oil prices slightly inched up on Monday after falling 8% last week to more than three-week lows as concerns that slower growth in major economies may limit fuel consumption outweighed signs of a demand recovery in China, the …
Following record utilization last year, U.S. refiners expect to have lower capacity operating in the first quarter of this year, due to a heavy maintenance season.
After operating at over 90% for most of 2022, the largest …
(Bloomberg) — U.S. shale companies are set to post yet another strong set of earnings, off the back of robust oil and gas prices in the fourth quarter. But the biggest question for analysts and investors remains whether …
Oil prices made modest gains in early trade on Friday but were heading for a second straight week of losses, as the market looked for more signs of a strong recovery in fuel demand in China to offset …
ConocoPhillips said on Thursday profit more than doubled to $18.7 billion in 2022, the highest since the company spun off its refining business in 2012, as the oil producer benefited from stronger prices on tight supplies and robust …
