Crude Oil News

Source: Reuters

EQT’s CEO calls for more American shale investment to end energy crisis

World Oil


(Bloomberg) –The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages.

U.S. gas …

Source: CNBC

After the gas crisis, the Arctic could be Russia and Europe’s next flashpoint

CNBC


A new cold front could open up in the political tension between the European Union and Russia over energy. This time in the Arctic.

 

On Wednesday, the EU put forward proposals that could see it pushing to ban

Source: Bloomberg

Bolsonaro wants to privatize Brazil’s state-owned Petrobras

World Oil


(Bloomberg) –Brazilian President Jair Bolsonaro said Thursday that he wants to privatize Petrobras, the state-controlled oil company that is under political pressure to lower fuel prices.

Shares of Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is …

U.S. rig count increased by 10 this week, at 543

U.S. rig count increased by 10 this week, at 543

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had an increase of 10 over last week, resulting in a total count of 543 rigs. Canada had an increase of 1 over last week, resulting in …

Source: Reuters

U.S. natural gas futures climb on winter inventory concerns

World Oil


HOUSTON (Bloomberg) –U.S. natural gas futures climbed after winter stockpiles of the furnace and power-plant fuel expanded less than expected, heightening concerns about adequate supplies going into the peak-demand season.

 

Gas prices have already more than doubled …

Source: Reuters

Brent’s ‘scarcity premium’ widens to most since 2013 in oil rally

Reuters


LONDON – The structure of Brent crude oil futures is showing a “scarcity premium” that has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally amid a wider energy crunch as …

Source: CNBC

Goldman Sachs says oil prices could be higher for much longer

CNBC


Oil prices could stay at higher levels in the years to come as demand rebounds while supply remains tight, according to Goldman Sachs’ head of energy research.

Damien Courvalin, who is also a senior commodity strategist, said the market

Source: World Oil

OPEC credits its oversight with preventing oil price chaos

World Oil


While crude has jumped to a three-year high …

Source: CNBC

Coal is ‘king’ as gas prices soar, Total CEO says — and it’s backfiring on cleaner energy goals

CNBC


Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grapples with worsening gas shortages.

TotalEnergies CEO Patrick Pouyanne on Wednesday stressed …

Source: Reuters

Putin’s pledge for more supply can’t stop Europe’s gas price surge

World Oil


(Bloomberg) –European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs.

Europe’s largest gas supplier is ramping up deliveries in line with requests from customers and …

Source: Reuters

Energy crisis could threaten global economic recovery, says IEA

Reuters


LONDON – A global energy crunch is expected to boost oil demand by 500,000 barrels per day (bpd) and could stoke inflation and slow the world’s recovery from the COVID-19 pandemic, the International Energy Agency (IEA) said on Thursday.…

U.S. crude oil inventories increase by 6.1 million barrels

U.S. crude oil inventories increase by 6.1 million barrels

Weekly Crude Oil Storage as of October 8, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.1 million barrels from the previous week. At 427.0 million barrels, U.S. crude oil …

Source: Reuters

Oil prices rally as IEA sees gas shortages boosting crude demand

World Oil

WTI crude futures rose 1.5% to near the highest level …

Source: World Oil

Halliburton introduces iStar Intelligent Drilling and Logging Platform

World Oil


HOUSTON – Halliburton Company released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations.

The platform’s digital architecture supports automation, machine learning, and artificial intelligence …

Source: Reuters

Volatile energy markets are here to stay, global watchdog warns

CNBC


Energy prices around the world are at record highs as a power crunch hits Europe and Asia — and the International Energy Agency warned Wednesday that volatility is here to stay.

In its annual report, the Paris-based agency said …

Source: World Oil

Putin ready to send more Russian gas to Europe, blames flawed policies for shortage

World Oil


MOSCOW (Bloomberg) – Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply.

Europe’s largest gas …

Source: Reuters

PetroTal announces Q3 2021 operations and liquidity update

Calgary, Alberta and Houston, Texas–(Newsfile Corp. – October 13, 2021) – PetroTal Corp. (TSX…

Source: Reuters

OPEC trims 2021 demand forecast but says gas price surge could help

Reuters


LONDON -OPEC has trimmed its world oil demand growth forecast for 2021 while maintaining its 2022 view, its monthly report showed on Wednesday, but it said surging natural gas prices could boost demand for oil products as end users …

Source: Reuters

Blackrock CEO says the world is on track to lose climate change fight

World Oil


(Bloomberg) –BlackRock Inc. Chief Executive Officer Larry Fink said emerging economies need about $1 trillion a year over the next three decades for the world to achieve carbon neutrality.

“Right now the emerging world is getting about $150 …

Source: CNBC

Europe’s green transition has been ‘management by chaos,’ energy expert says

CNBC


Europe’s handling of the transition to a green economy has been “management by chaos” and high energy prices could persist until 2025, according to Johannes Benigni, chairman of analysis firm JBC Energy.

Natural gas futures soared to 13-year highs …

Source: Reuters

Locked-out Texas refinery workers to vote on Exxon contract proposal -union

Reuters


HOUSTON – Workers locked out of their jobs at a Beaumont, Texas, refinery for nearly six months by Exxon Mobil Corp will vote on the company’s latest contract proposal, a United Steelworkers’ union official said on Monday night.

The …

October 12, 2021 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Jobs, People
Source: Businesswire

TotalEnergies and Qnergy work to reduce methane emissions on the Barnett field

World Oil


PARIS – As part of its effort for continuous progress and sustainable development, TotalEnergies announces deployment of an innovative technology developed by Qnergy, to significantly reduce methane emissions related to its operations on the Barnett gas field in …

Source: Yahoo Finance

Biden’s options to tame gas prices clash with his climate agenda

Bloomberg


President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions.

But he has little power to control global energy markets.

“The toolbox …

Source: Reuters

Oil whipsaws in volatile session on energy crunch fears

Reuters


Oil prices steadied after whipsawing in a volatile session on Tuesday, as traders weighed the effect that higher energy costs could have on the global economic recovery.

 

Brent crude fell 4 cents to $83.61 a barrel by 10:46 …

Source Reuters

Energy crunch stokes inflation, economic recovery concerns

Reuters


BEIJING, Oct 12  – Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic …

Source: Reuters

Chesapeake Energy names new President and CEO

World Oil


OKLAHOMA CITY – Chesapeake Energy Corporation announced that its Board of Directors has unanimously voted to appoint Domenic “Nick” Dell’Osso as President and Chief Executive Officer and a member of the company’s Board of Directors, effective immediately.

Mike …

Source: New Mexico Oil and Gas Association

First New Mexico-focused Permian Basin Operator, Chisholm Energy, enters Certified Responsibly Sourced gas partnership

New Mexico Oil and Gas Association


Chisholm Energy Holdings, LLC (“Chisholm Energy” or the “Company”) announced a partnership to install real-time air emissions monitoring devices on select production facilities in southeastern New Mexico with the goal to receive independent operational …

Source: World Oil

Apache eliminates routine gas flaring onshore U.S., completing ESG goal early

World Oil


HOUSTON – Apache Corporation has ended routine flaring in its U.S. onshore operations, achieving one of its 2021 ESG goals three months ahead of schedule.

 

“In early 2021, we set out to eliminate routine flaring in U.S. …

Source: Reuters

Oil above $80 spurs a Permian shale drilling revival

World Oil


HOUSTON (Bloomberg) –Oil prices around $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks.

Only this time, the surge …

Source: Reuters

Chevron commits to net zero operational emissions by 2050

Reuters


Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint.

The move to cut upstream emissions from its own operations …

October 11, 2021 - 12:30 pm Carbon Capture, Closing Bell Story‎, Crude Oil News, Energy News