LONDON – Royal Dutch Shell is in talks to charter at least three supertankers to store crude oil at sea as traders brace for a sharp rise in global stocks after OPEC and its allies abandoned a production cut …
LONDON – Oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity and OPEC and the U.S. Energy Information Administration (EIA) slashed oil demand forecasts because of the coronavirus outbreak.…
A Department of Energy spokeswoman called out OPEC’s decision not to cut oil production as an attempt to “manipulate and shock oil markets,” after oil prices dropped close to $30 a barrel Monday.
“These attempts by state actors …
DUBAI/MOSCOW – Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new …
The agreements include the construction of a 1,500MW Combined Cycle Gas-Turbine power plant and a 500-1000MW wind farm
On Sunday, Saudi Arabia’s utility developer ACWA Power revealed that it had signed three agreements, potentially worth up to $2.5bn, …
LONDON – Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday.
The downward revision …
A group of oil-producing nations known as OPEC failed to reach a deal with its allies over oil output cuts following a meeting in Vienna on Friday. This led OPEC kingpin Saudi Arabia to slash its official selling prices
LONDON – Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they would hike output in a market already …
SYDNEY (Reuters)
Asian shares were set for a pounding on Monday as investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price.
The world’s …
The Union government plans to set up a regional grid that will be leveraged to create a common electricity market for nations in India’s neighborhood, said power and new and renewable energy minister Raj Kumar Singh.
The proposed market,
NEW YORK/LONDON – Exxon and Chevron boasted to investors this week about booming U.S. oil production, illustrating how the gap has widened – at least in words – between top American oil and gas companies and their European rivals …
Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.
The companies accused the Nigerian National …
Oil & Gas Publishers Note: While this is happening in Australia, it may be a new trend in the United States. Will be interesting to follow.
Five executives who were in charge of Linc Energy’s experimental coal gasification …
The International Energy Agency plans to revise down its oil-demand forecasts next week because of the spreading coronavirus.
“I am going to announce it Monday morning in Paris,” IEA chief Fatih Birol told a Congressional hearing in Washington …
Organizers of OTC, the largest oil and gas trade show in the world, say they plan to continue with an annual conference planned in Houston despite the global coronavirus outbreak canceling similar events. The Offshore Technology Conference takes …
Oil & Gas 360 Publishers Note: This is a huge conference being cancelled due to the virus. I do not have the answers on the virus, but we do need to continue to work and wash our hands. Staying …
TransAlta Renewables Inc. (“TransAlta Renewables” or the “Company”) (TSX: RNW) announced today solid financial results which were at the upper-end of its guidance for the three months and year ended December 31, 2019, along with its 2020 outlook.
…
LONDON – Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in four years as the global spread of the coronavirus stokes demand fears.
Investors are increasingly …
BOGOTA – Colombia’s state-run oil company Ecopetrol ECO.CN will look to increase the number of exploratory wells it has planned through 2022 to up to 45 in a bid to further bolster reserves, company executives said on Wednesday.
Ecopetrol …
NEW YORK – Oil prices plunged more than 4% on Thursday, down for a fifth day to their lowest since January 2019 as more new coronavirus cases outside China fed fears of a pandemic that could slow the global …
Guyana’s government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December.
The government is entitled to a …
Oil markets will begin to recover in the second quarter as the virus that has inflicted a “big hit” on Chinese demand abates, the head of Saudi Aramco’s trading unit said.
“By the end of April, we will …
NEW YORK – Oil prices edged up on Wednesday after U.S. crude in storage grew less than expected and gasoline inventories dropped, but hundreds of new coronavirus cases reported in Asia, Europe and oil-producing countries in the Middle East …
Exxon Mobil Corp. fell to a 15-year low on Monday amid a broad selloff in equity and commodity markets and just over a week before Chief Executive Officer Darren Woods is scheduled to present the oil explorer’s long-term …
RIYADH – The growth in U.S. shale oil production will slow to 600,000 to 700,000 barrels per day in 2020 and to 200,000 bpd in 2021, the chief executive of U.S. oilfield services giant Schlumberger said on Tuesday.
U.S. …
LONDON – Oil slipped towards $56 a barrel on Tuesday, falling for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.
Crude fell …
Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today announced unaudited preliminary revenue for the year ended December 31, 2019, was $19.0 million, up 4% from the prior year. …
JCA Companies
Cody, WY., February 24, 2020. JCA Companies (“JCA”) announced today that its subsidiary C-MOR Energy Services has safely installed its first Crown Jewel Rig Mounted Lighting Package for Parex Resources on a Top Drilling Rig in the …
Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today the financial and operating results for the fourth quarter of 2019. For the quarter, the Company generated a net loss of $36 million, or $0.09 per diluted share. When adjusted for certain …
