Crude Oil News

Ministry of Petroleum Releases Annual Report

Ministry of Petroleum Releases Annual Report

Republic of South Sudan


PETROLEUM REPORT PROVIDES DETAILED FINANCIAL INFORMATION AND STATISTICS FROM THE SOUTH SUDAN OIL SECTOR

Juba, South Sudan, February 20, 2020 – The seventh Petroleum Report issued by the Ministry of Petroleum, Republic of South Sudan, provides …

February 22, 2020 - 6:04 pm
Pembina: Emissions 70% Above Global Average Put Tar Sands/Oil Sands on ‘Collision Course’

Pembina: Emissions 70% Above Global Average Put Tar Sands/Oil Sands on ‘Collision Course’

Energy Central


While head-to-head comparisons get complicated, Pembina estimates a barrel of Canadian oil still produces 70% more emissions than the global average.

Carbon emissions per barrel that are still 70% above the global average, and still on the rise, …

February 22, 2020 - 3:49 pm
Source: Houston Chronicle

Studies: Water reuse key to the future of shale

Houston Chronicle


Reusing oil field wastewater for hydraulic fracturing operations will be critical to maintaining productivity in U.S. shale plays, a pair of studies reveals.

In a pair of studies releases earlier this month, scientists with the University of Texas …

February 21, 2020 - 3:00 pm
Source: Reuters

U.S. shale oil outlook darkens as by-product prices slide

Reuters


DENVER/NEW YORK – U.S. shale oil drillers could scale back investment in production more quickly than previously expected this year after prices slid for what had been a lucrative by-product of their operations.

Oil producers have already taken a …

February 21, 2020 - 2:00 pm
Source: Houston Chronicle

Maduro shakes up PDVSA as Venezuela faces oil emergency

Houston Chronicle


Venezuela’s President Nicolas Maduro declared an “energy emergency” as he announced a commission to revamp state oil company Petroleos de Venezuela SA, redoubling efforts to shore up the nation’s crumbling oil industry.

Economy Vice President Tareck El Aissami …

February 21, 2020 - 1:00 pm
U.S. rig count increased by 1 this week, at 791

U.S. rig count increased by 1 this week, at 791

This week’s Baker Hughes rig count shows that U.S. had an increase of 1 over last week, resulting in a total count of 791 rigs. Canada had a decrease of 11 over last week, resulting in a total Canadian count …

February 21, 2020 - 11:45 am
Source: Reuters

Oil retreats in face of renewed coronavirus uncertainties

Reuters


LONDON – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.

Brent …

February 21, 2020 - 10:00 am
Sen. Bernie Sanders, seen in May 2019, has one of the most ambitious climate change plans among 2020 Democratic presidential contenders, but his opponents say it’s unrealistic. Alex Wong/Getty Images

5 things to know about Bernie Sanders’s aggressive climate strategy

Vox 


Sen. Bernie Sanders is now the frontrunner for the Democratic nomination in the 2020 presidential election, according to recent nationwide polls.

Since climate change is likely to come up at Wednesday night’s debate in Nevada (where he also

February 20, 2020 - 9:37 pm
Noble Paul Romano; Source: Noble Corp.

Noble Corporation posts higher quarterly revenues

Offshore Energy Today


Offshore drilling contractor Noble Corporation has managed to keep its net loss flat in the last quarter of 2019 while its revenues increased during the period. Noble Corp. CEO is getting ready to transition to the role

February 20, 2020 - 7:34 pm
Source: CNBC

Oil prices rise as US crude stocks build less than expected

CNBC


Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.

Data from the U.S. Energy Information Administration (EIA) showed …

February 20, 2020 - 3:00 pm
Source: Reuters

Russia: oil producers agree no need to hold early OPEC+ meeting

Reuters


MOSCOW – Russian Energy Minister Alexander Novak said on Thursday there was a common understanding among global oil producers that it would now no longer make sense for OPEC and non-OPEC producers to meet before their planned gathering in …

February 20, 2020 - 2:00 pm
Source: Houston Chronicle

Halliburton to pay down debt by issuing $1 billion of lower-interest notes

Houston Chronicle


Houston oilfield service company Halliburton plans to pay down its long-term debt by issuing $1 billion in lower-interest notes.

Halliburton on Wednesday said it plans to issue a type of debt known as senior notes. Due in March …

February 20, 2020 - 1:00 pm
Source: Reuters

U.S. crude oil inventories increase by 400 thousand barrels

Weekly Crude Oil Storage as of February 14, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 400 thousand barrels from the previous week. At 442.9 million barrels, U.S. crude oil inventories …

February 20, 2020 - 11:45 am
Falcon Oil & Gas Ltd. – Successful Drilling of Kyalla 117 N2-1H ST2 Horizontal Well

Falcon Oil & Gas Ltd. – Successful Drilling of Kyalla 117 N2-1H ST2 Horizontal Well

20 February 2020 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that drilling operations, including casing and cementing, on the Kyalla 117 N2-1H ST2 well have been successfully completed.

February 20, 2020 - 2:00 am
Cimarex Announces 2020 Capital Investment Plans and Production and Expense Guidance

Cimarex Announces 2020 Capital Investment Plans and Production and Expense Guidance

DENVERFeb. 19, 2020 /PRNewswire/ —

  • Total capital investment estimated to be $1.25 – 1.35 billion
    • Includes drilling and completion capital of $0.95 – 1.05 billion
  • Generates nine percent oil growth at the midpoint
  • Free cash flow positive in
February 19, 2020 - 4:02 pm
Cimarex Reports Fourth Quarter and Full Year 2019 Results

Cimarex Reports Fourth Quarter and Full Year 2019 Results

DENVERFeb. 19, 2020 /PRNewswire/ —

  • Fourth quarter oil production averaged 92.0 MBbls per day
    • Full year oil production averaged 86.2 MBbls per day
  • 2019 capital investment (including midstream) totaled $1.32 billion; below guidance range
    • Lower D&C costs
February 19, 2020 - 4:01 pm
EnerCom Dallas – ESG for the oil and gas industry

EnerCom Dallas – ESG for the oil and gas industry

Oil and Gas 360


The EnerCom Dallas Energy Conference featured an outstanding panel on ESG (Environmental, Social and Governance) featuring Matthew Todd, Director of The Environmental Partnership; Chris Hughen, Associate Professor of Finance at the University of Denver; and Ken …

February 19, 2020 - 3:30 pm
Source: Reuters

More parties pulled at London oil week due to coronavirus

Reuters


LONDON  – The list of parties at London’s International Petroleum Week, one of the world’s biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan’s SOCAR cancel events due to the coronavirus outbreak, trading sources …

February 19, 2020 - 2:30 pm
As the World Watches the Permian, Enverus Brings the Rockies & Bakken In Focus

As the World Watches the Permian, Enverus Brings the Rockies & Bakken In Focus

Oil & Gas 360 Feed Wire

Austin, TX (February 19, 2020) – Enverus, the leading oil & gas SaaS and data analytics company, has released its latest FundamentalEdge report focused on oil, gas, and natural gas liquids production, pipelines and …

February 19, 2020 - 1:05 pm
Source: Houston Chronicle

Sanctions on Rosneft unit threaten Venezuela’s vital oil trade

Houston Chronicle


U.S. sanctions on Rosneft Trading SA threaten Venezuela’s ability to export oil, but pose only a limited threat to the Russian energy giant’s wider business.

The Geneva-based trading arm of Rosneft PJSC, was targeted by the U.S. for …

February 19, 2020 - 1:00 pm
Source: CNBC

US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

CNBC


The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020.

Rob Kaplan, president of the Fed district, said in an

February 19, 2020 - 12:30 pm
Source: Reuters

Argentina’s energy bust spawns ‘ghost town’ in prized Vaca Muerta

Reuters


AÑELO, Argentina  – Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth …

February 19, 2020 - 12:00 pm
Source: Reuters

Oil up on slowing pace of coronavirus, Venezuela sanctions

Reuters


LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from …

February 19, 2020 - 10:00 am
Enable Midstream Announces Fourth Quarter and Full-Year 2019 Financial and Operating Results

Enable Midstream Announces Fourth Quarter and Full-Year 2019 Financial and Operating Results

Enable Midstream Announces Fourth Quarter and Full-Year 2019 Financial and Operating Results. Achieved record high annual natural gas gathered, natural gas processed, natural gas transported, and crude oil and condensate gathered volumes. Enable Mississippi River Transmission, LLC (MRT) has agreed …

February 19, 2020 - 6:00 am
Source: Houston Chronicle

Texas oil production expected to rise, but at a slower pace

Houston Chronicle


Texas oil production is expected to rise each month this year but the growth rate is expected to slow, Norwegian energy research firm Rystad Energy said Tuesday in a report.

Oil production from Texas wells increased to an …

February 18, 2020 - 1:00 pm
Source: Reuters

Iran oil projects reined in because of lack of funds: minister

Reuters


DUBAI (Reuters) – Iran has had to reduce oil production projects because of a lack of funds and a drop in income from oil exports, Oil Minister Bijan Zanganeh said on Tuesday, according to the official IRNA news agency.…

February 18, 2020 - 12:00 pm
Source: Houston Chronicle

Chevron invests in carbon capture technology company

Houston Chronicle


Through its startup technology arm, Chevron is joining two other firms in investing in Carbon Clean Solutions, which provides portable carbon capture technology for the oil field and other industrial facilities.

Chevron Technology Ventures, Tokyo industrial conglomerate Marubeni …

February 18, 2020 - 11:00 am
Source: Reuters

Italy’s Eni says offshore Mexico find could make block commercial

Reuters


MEXICO CITY – Italy’s state-controlled oil company Eni said on Monday it notched an offshore discovery just off Mexico’s southern Gulf Coast, marking “a potential commercial outcome” in its area because of other nearby prospects.

The new find is …

February 18, 2020 - 10:00 am
Source: Houston Chronicle

Oil snaps 5-day rally as virus continues to weigh on demand

Houston Chronicle


A five-day rally in oil prices ended as investors found new reasons to worry about how fuel demand will be affected by the impact of Asia’s deadly coronavirus.

Brent futures fell 1.8% to trade below $57 a barrel …

February 18, 2020 - 9:00 am
Asia Markets: Asia stocks fall in early Tuesday trading as economic impact of coronavirus weighs on markets

Asia Markets: Asia stocks fall in early Tuesday trading as economic impact of coronavirus weighs on markets

Asia Markets: Asia stocks fall in early Tuesday trading as economic impact of coronavirus weighs on markets

February 18, 2020 - 4:36 am