Crude Oil News

PetroTal Announces 2019 Year-End Oil Reserves and Operational Update

PetroTal Announces 2019 Year-End Oil Reserves and Operational Update

PetroTal Announces 2019 Year-End Oil Reserves and Operational Update

February 18, 2020 - 2:00 am
Source: Houston Chronicle

Oilman, former Texas governor candidate Williams dies at 88

Houston Chronicle


DALLAS (AP) — Clayton Williams, a colorful Texas oilman and philanthropist whose 1990 run for governor was derailed after joking about rape and acknowledging he went a year without paying income taxes, has died. He was 88.

Williams …

February 17, 2020 - 3:30 pm
Source: Houston Chronicle

Schlumberger moves technology chief to head of ‘new energy’ division

Houston Chronicle


Oilfield service giant Schlumberger is moving one of its top executives to lead a newly created division for “new energy” initiatives.

In a Friday morning filing with the Securities and Exchange Commission, Schlumberger reported that Executive Vice President …

February 17, 2020 - 2:30 pm
Source: Houston Chronicle

Seized oil cargo is latest twist in Venezuela’s political fight

Houston Chronicle


A crude tanker stuck at sea for over a year has become the latest front in the battle over Venezuela’s oil riches after being seized last week.

Citgo Petroleum Corp., led by appointees of Venezuelan opposition leader Juan …

February 17, 2020 - 1:30 pm
Source: Reuters

Tullow Oil shares slip as empty offshore Peru well adds to woes

Reuters


Tullow Oil said it will plug and abandon its Marina-1 well in offshore Peru after drilling reached maximum depth without finding oil, in another sign of trouble for the British oil and gas explorer that sent its shares 8% …

February 17, 2020 - 1:00 pm
Source: Houston Chronicle

Oil steady as Asian states seek to offset virus hit to economies

Houston Chronicle


Oil steadied near $57 a barrel in London as China and other Asian states promised economic stimulus to offset the impact of the coronavirus, buoying the outlook for fuel demand.

Prices recovered more than 5% last week, the …

February 17, 2020 - 10:00 am
FILE - In this Jan. 12, 2017 file photo, a worker operates valves in Nihran Bin Omar field north of Basra, Iraq. The U.S. has signaled to Iraq it's willingness to extend sanctions waivers enabling the country to continue importing vital Iranian gas and electricity imports, three Iraqi officials said this week. The decision comes amid strained U.S.-Iraqi ties following last month's Washington-directed airstrike that killed a high-profile Iranian general on Iraqi soil. (AP Photo/Nabil al-Jurani, File)

US gives Iraq sanctions waiver for Iranian gas and electricity imports

Arab News 

 


The new waiver gives Iraq just 45 days to show Americans that it is making good on conditions to boost domestic gas supply

Oil & Gas Publishers Note: Please note the flaring in the background. The United

February 15, 2020 - 6:48 am
Source: Reuters

Exclusive: Venezuela’s PDVSA steps up fuel shipments to Cuba as shortages bite

Reuters


MEXICO CITY/HAVANA – Venezuela’s state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources and internal company documents seen …

February 14, 2020 - 12:00 pm
U.S. rig count has no change this week, stays at 790

U.S. rig count has no change this week, stays at 790

This week’s Baker Hughes rig count shows that U.S. had no change over last week, resulting in a total count of 790 rigs. Canada had a decrease of 2 over last week, resulting in a total Canadian count of 255 …

February 14, 2020 - 11:33 am
Source: Reuters

Total considers stopping fuel oil sales for power: CEO

Reuters


ABERDEEN, Scotland – France’s Total (TOTF.PA) is considering stopping sales of fuel oil to power markets as the energy giant seeks to reduce its carbon footprint and grow its renewable power business, its chief executive told Reuters.…

February 14, 2020 - 11:07 am
Source: Houston Chronicle

Oil rally continues as virus fears show signs of easing

Houston Chronicle


Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be easing.

Chinese refiners have used oil’s earlier drop to snap up cheap cargoes, taking …

February 14, 2020 - 9:00 am
Pan Orient Energy Corp Thailand Operations Update

Pan Orient Energy Corp Thailand Operations Update

Pan Orient Energy Corp Thailand Operations Update

February 14, 2020 - 8:30 am
Source: Houston Chronicle

All eyes on Exxon, Chevron after BP vows carbon neutrality

Houston Chronicle


BP Plc’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.…

February 13, 2020 - 3:30 pm
Source: Reuters

Coronavirus unlikely to have big impact on oil prices: U.S. energy secretary

Reuters


LISBON (Reuters) – The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically push up oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan …

February 13, 2020 - 3:00 pm
Source: Houston Chronicle

Marathon Oil cuts drilling budget amid 56 percent drop in profit

Houston Chronicle


Houston exploration and production company Marathon Oil has cut its drilling budget by about 10 percent amid an ongoing shale slump that caused revenue and profits to decline in 2019.

In a Wednesday afternoon statement, Marathon said the …

February 13, 2020 - 2:00 pm
Source: CNBC

Global oil demand set to see first quarterly decline in over 10 years, IEA says

CNBC


Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.

Demand is …

February 13, 2020 - 1:00 pm
Source: Reuters

Oil prices climb on prospects for deeper OPEC+ output cuts

Reuters


NEW YORK – Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.…

February 13, 2020 - 12:00 pm
Source: Houston Chronicle

America’s oil boom feels more like bust in the shale patch

Houston Chronicle


Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of his bleak utterings: “End of the …

February 13, 2020 - 11:00 am
EIA revises global liquid fuels demand growth down because of the coronavirus

EIA revises global liquid fuels demand growth down because of the coronavirus

EIA


In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the …

February 13, 2020 - 1:00 am
Oil giant BP is latest to pledge net zero emissions by 2050

Oil giant BP is latest to pledge net zero emissions by 2050

Oil giant BP is latest to pledge net zero emissions by 2050

February 12, 2020 - 2:39 pm
Mexco Energy Corporation Reports Financial Results for the Third Quarter and New Properties

Mexco Energy Corporation Reports Financial Results for the Third Quarter and New Properties

Mexco Energy Corporation Reports Financial Results for the Third Quarter and New Properties

February 12, 2020 - 2:30 pm
Source: Reuters

U.S. crude oil inventories increase by 7.5 million barrels

Weekly Crude Oil Storage as of February 7, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.5 million barrels from the previous week. At 442.5 million barrels, U.S. crude oil inventories …

February 12, 2020 - 12:00 pm
Touchstone Exploration discovers oil and gas deposit onshore Trinidad

Touchstone Exploration discovers oil and gas deposit onshore Trinidad

Offshore Technology


Canada-based Touchstone Exploration has announced results from the first tests on a liquids-rich gas deposit in Trinidad and Tobago.

Touchstone Exploration discovers oil and gas deposit onshore Trinidad-oilandgas360

Tests on the Cascadura-1ST1 well gave an average flow of 5,180 barrels of oil equivalent per day (boe/d).…

February 11, 2020 - 1:46 pm
Oil prices edge down as traders assess China’s oil demand, await OPEC+ cuts

Oil prices edge down as traders assess China’s oil demand, await OPEC+ cuts

BOE Report


Oil is off more

February 10, 2020 - 1:50 pm
Trump proposes selling oil from strategic reserve to fund budget plan

Trump proposes selling oil from strategic reserve to fund budget plan

World Oil 


Oil & Gas 360 Publishers Note: Interesting thought process on selling reserves to pay down the dept. Not a bad idea: but how will the country supplement the oil companies should drilling be necessitated in case of a

February 10, 2020 - 1:46 pm
There’s more oil and gas than ever — and the industry is tanking

There’s more oil and gas than ever — and the industry is tanking

AXIOS


The world’s oil and natural gas companies are drilling their way into financial and social hell.

Oil & Gas 360 Publishers Note: Amy Harder has some excellent points backed up with facts and data. This is a good read

February 10, 2020 - 1:29 pm
Hunt Oil seeks latest fortune in Permian Basin

Hunt Oil seeks latest fortune in Permian Basin

Chron


A storied oil company that got its start in East Texas is seeking its latest fortune in the Permian Basin of West Texas.

Hunt Oil seeks latest fortune in Permian Basin-oilandgas360Founded in in 1934, Hunt Oil Co. drilled its first oil wells in the Piney Woods …

February 10, 2020 - 1:00 pm
GEOPARK announces record 2019 certified 2P reserves of 197 MMBOE valued at NPV10 of $2.8 billion

GEOPARK announces record 2019 certified 2P reserves of 197 MMBOE valued at NPV10 of $2.8 billion

GeoPark


Oil & Gas 360 Publishers Note: GeoPark will be presenting at EnerCom Dallas at 10:05 Tuesday Febuary 11th. The presentation will be live streamed at enercomdallas.com

IN COLOMBIA: 1P, 2P AND 3P RESERVE REPLACEMENT RATIOS OF 200+%
AND

February 10, 2020 - 12:09 pm
Chevron prepared for current energy challenge: CEO

Chevron prepared for current energy challenge: CEO

KallanishEnergy


Oil and natural gas stocks are under intense scrutiny/criticism, particularly by younger generations, as the sustainable investing movement gains momentum, but it’s unfair to compare the oil sector to other much-maligned areas of the market given the role oil …

February 10, 2020 - 9:22 am
EIA projects total U.S. energy-related CO2 emissions to be relatively flat through 2050

EIA projects total U.S. energy-related CO2 emissions to be relatively flat through 2050

EIA


Oil & Gas 360 Publishers Note: Flat is better than increase. Transforming the current energy structure is a momentous task, and needs to be implemented while keeping the economy going. People need to remember – The United States is

February 10, 2020 - 8:58 am