Crude Oil News

Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

February 10, 2020 - 8:30 am
Diamond secures over $50 million backlog with new North Sea extension

Diamond secures over $50 million backlog with new North Sea extension

Off Shore Energy


During 2019, the company secured $620 million of backlog, including over $50 million secured in the fourth quarter related to a 12-month extension for the Ocean Patriot in the North Sea.

Diamond secures over $50 million backlog with new North Sea extension - oilandgas360

Namely, the 1982-built Ocean Patriot semi-submersible …

February 10, 2020 - 7:44 am
Whiting Oil and Gas seeks to expand crude oil conditioning in Mountrail County

Whiting Oil and Gas seeks to expand crude oil conditioning in Mountrail County

Williston Harold


Whiting Oil and Gas is seeking permission to expand its Lake Robinson Oil Conditioning Facility from 45,000 barrels per day to 65,000 barrels of crude per day.

The $6 million facility is located 7.9 miles northeast of New

February 8, 2020 - 8:25 am
Sen. Elizabeth Warren, Joe Biden, and Sen. Bernie Sanders participate in the Democratic debate in Manchester, New Hampshire, on February 7, 2020. Joe Raedle/Getty Images

Democratic candidates want to use trade to make other countries act on climate change

VOX


Oil & Gas 360 Publisher’s Note: We as a combined community of humans need to work together to provide a path to lower emissions with the right balance of natural gas, oil, nuclear, wind, solar, and geothermal. It also

February 8, 2020 - 7:26 am
Geopolitical developments continue to drive maritime crude oil tanker rates

Geopolitical developments continue to drive maritime crude oil tanker rates

EIA


Following nearly 10 years of relative price stability, shipping rates for crude oil tankers have fluctuated widely since mid-2018 because of a combination of geopolitical events and changes to maritime fuel specifications. The U.S. Energy Information Administration (EIA) estimates …

February 8, 2020 - 6:55 am
The Latest Energy Innovations and Best Oil and Gas Stories

The Latest Energy Innovations and Best Oil and Gas Stories

Oil and Gas 360


EnerCom Dallas 2020 Preview-REGISTRATION STILL OPEN

The Latest Energy Innovations and Best Oil and Gas Stories

It’s less than a week until the EnerCom Dallas The Energy Investment Conference on February 11-12, 2020- and this

February 7, 2020 - 3:30 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 an increase of 10 over last week, resulting in a total Canadian count of 257 …

February 7, 2020 - 1:42 pm
Source: Reuters

Russia says it needs more time to decide on any OPEC oil output cut

Reuters


MINERALNYE VODY, Russia – Russia said on Friday it needed more time to decide whether to join any additional oil output cut by OPEC, saying U.S. crude production growth would slow and global demand remained solid.

Energy Minister Alexander …

February 7, 2020 - 1:00 pm
Source: Houston Chronicle

Trump administration moves ahead on shrinking Utah monuments

Houston Chronicle


SALT LAKE CITY (AP) — The U.S. government implemented final management plans Thursday for two national monuments in Utah that President Donald Trump downsized more than two years ago that ensure lands previously off-limits to energy development will …

February 7, 2020 - 12:00 pm
Source: Houston Chronicle

NOV finishes year of losses $6.1 billion in the red

Houston Chronicle


Houston oilfield service company National Oilwell Varco finished up a year of losses $6.1 billion in the red.

In a statement released on Thursday evening, the company reported closing 2019 with a $6.1 billion loss, a dramatic drop …

February 7, 2020 - 10:00 am
Source: CNBC

Global oil demand to peak around 2040 or ‘much sooner,’ IMF says

CNBC


Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said in a new report on the future of oil.

The IMF said that this could have a “significant” impact on oil-exporting

February 6, 2020 - 3:45 pm
Source: Reuters

India’s Reliance says purchases of Venezuelan oil have been approved by the U.S.

Reuters


NEW DELHI – India’s refining firm Reliance Industries (RELI.NS) on Thursday said its purchases of Venezuelan crude have been reported and approved by the U.S. government after American officials warned oil firms about their activity in Venezuela …

February 6, 2020 - 2:30 pm
Source: Houston Chronicle

Saudis slash oil prices in Asia as virus causes demand shock

Houston Chronicle


Saudi Arabia’s state oil company made deep cuts to the price of crude it sells to Asia, where an outbreak of the coronavirus has caused a slump in demand.

Saudi Aramco lowered most of its official selling price …

February 6, 2020 - 2:00 pm
Source: Houston Chronicle

Guyana backs Exxon deal, slams ‘malicious’ NGO study

Houston Chronicle


Guyana vigorously defended its oil contract with Exxon Mobil Corp. after the deal was criticized by human-rights group Global Witness just a month before the country holds a general election.

The report faulted “inexperienced” government officials for failing …

February 6, 2020 - 1:00 pm
Source: CNBC

Russia’s reluctance for a production cut exposes possible crack in three-year-old OPEC alliance

CNBC


Russia’s reluctance to jump on board a bigger OPEC production cut may signal a potential fissure within the oil producer alliance, known as OPEC plus.

Led by Saudi Arabia, other OPEC producers and Russia were considering an emergency meeting …

February 6, 2020 - 12:00 pm
Total beats quarterly forecasts despite low oil price, raises payout

Total beats quarterly forecasts despite low oil price, raises payout

Reuters


ABERDEEN, Scotland – Total (TOTF.PA) beat forecasts on Thursday by keeping net adjusted fourth-quarter profit steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy firm’s shares.

The …

February 6, 2020 - 11:00 am
Source: Houston Chronicle

Canadian court rejects challenge to pipeline, tankers

Houston Chronicle


VANCOUVER, British Columbia (AP) — An estimated 400 oil tankers a year are likely coming to inland waters of the Salish Sea, and the Strait of Juan de Fuca, shared by Washington and British Columbia.

The Seattle Post-Intelligencer …

February 5, 2020 - 2:00 pm
Source: Reuters

Coronavirus paralyses short-term oil, gas sales into China

Reuters


SINGAPORE – Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor …

February 5, 2020 - 1:00 pm
Source: Reuters

Oil prices leap after reports on coronavirus drug

Reuters


LONDON – Oil prices jumped by more than 4% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.

The World Health Organization played down …

February 5, 2020 - 11:00 am
Source: Houston Chronicle

OPEC+ in second day of talks as Saudis push for emergency cut

Houston Chronicle


OPEC+ officials gathered in Vienna for a second day of debate on the impact of the coronavirus, a process that could result in an emergency ministerial meeting where Saudi Arabia would push for an oil-production cut.

The price …

February 5, 2020 - 10:00 am
Source: Reuters

U.S. crude oil inventories increase by 3.4 million barrels

Weekly Crude Oil Storage as of January 31, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.4 million barrels from the previous week. At 435.0 million barrels, U.S. crude oil inventories …

February 5, 2020 - 9:55 am
Ring Energy, Inc. releases its preliminary 2020 capital expenditure budget of approximately $85 – $90 Million

Ring Energy, Inc. releases its preliminary 2020 capital expenditure budget of approximately $85 – $90 Million

Oil and Gas 360


Ring Energy, Inc. Releases Its Preliminary 2020 Capital Expenditure Budget of Approximately $85 – $90 Million

Company Budgets Drilling 18 New Horizontal Wells on Northwest Shelf in 2020

Tuesday, February 4, 2020 3:05 pm CST

Dateline:

February 4, 2020 - 3:37 pm
Source: Houston Chronicle

BJ Services develops natural gas-fired turbine for frac crews

Houston Chronicle


Tomball oilfield service company BJ Services has developed a new turbine that can use natural gas from a drilling site to provide power to hydraulic fracturing crews.

BJ Services said Tuesday that its natural gas-fired Titan turbine is …

February 4, 2020 - 3:00 pm
Source: Reuters

Enbridge Line 3 oil pipeline clears hurdles with Minnesota regulator

Reuters


WINNIPEG, Manitoba – Enbridge Inc’s Line 3 pipeline replacement cleared important hurdles on Monday when a Minnesota regulator endorsed a revised environmental impact statement for the project.

The Minnesota Public Utilities Commission’s decision, followed by its approval of a …

February 4, 2020 - 2:00 pm
Source: Reuters

BP full-year net profit falls 21% on weak oil and gas prices

CNBC


Energy giant BP reported better-than-expected full-year net profit on Tuesday, outperforming analyst expectations despite lower oil and gas prices.

The U.K.-based oil and gas company posted full-year underlying replacement cost profit, used as a proxy for net profit, of …

February 4, 2020 - 12:00 pm
Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.

Brent crude was up 93 cents, or 1.7%, …

February 4, 2020 - 11:00 am
Source: Houston Chronicle

ConocoPhillips’ fourth-quarter profit plunges by 60%

Houston Chronicle


ConocoPhillips’ fourth-quarter profit declined by more than 60 percent, to $720 million from $1.9 billion in the same period last year, amid weaker oil prices and production outputs.

Revenue during the quarter dropped by more than 20 percent …

February 4, 2020 - 10:00 am
Source: CNBC

Oil falls more than 2%, sinking to lowest level in more than 1 year

CNBC


Oil prices fell more than 2% on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.

U.S. West

February 3, 2020 - 2:30 pm
Source: Reuters/Rodrigo Garrido

U.S. lifts Iran sanctions on one unit of Chinese shipping giant COSCO

Reuters


WASHINGTON – The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about …

February 3, 2020 - 12:30 pm
Source: Houston Chronicle

2 giants with 2 strategies that aren’t working

Houston Chronicle


Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.

The problem is, neither strategy …

February 3, 2020 - 11:30 am