Crude Oil News

Source: Reuters

US crude exports fell in June, China top buyer – India second, and Canada rounds out 3rd

Argus


Houston, 5 August (Argus) — US crude exports in June fell for the fourth straight month as efforts to combat the Covid-19 pandemic slashed global demand. China was the top buyer.

Total US crude exports averaged 2.75mn b/d in …

August 5, 2020 - 1:30 pm China, Crude Oil News, Energy News, International, US News
Source: CNBC

BP CEO says dividend cut ‘deeply rooted in strategy’ as energy giant ramps up renewable investment

CNBC


The CEO of oil and gas giant BP told CNBC on Wednesday that its decision to “reset” its dividend to 5.25 cents a share was “deeply rooted in strategy.”

The newly announced dividend represents a 50% reduction compared to

Matterhorn Spirit - Built in 2005

US crude cargo to Saudi Arabia – That’s something you don’t see everyday.

Argus


Houston, 5 August (Argus) — The US has sent what appears to be its first ever crude cargo to key Opec producer Saudi Arabia, according to the US Census Bureau.

A 550,000 bl cargo left the US Gulf coast …

Source: Reuters

U.S. Energy Department recommends granting partial retroactive waivers to refiners: sources

Reuters


NEW YORK  – The U.S. Department of Energy has recommended that some of the oil refiners that applied for retroactive exemptions from the nation’s biofuel blending law be granted partial relief, two sources familiar with the matter said on …

August 5, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Regulatory
Source: Reuters

Exxon to suspend company match to employee retirement plans in October: sources

Reuters


HOUSTON – Exxon Mobil Corp (XOM.N) told employees it would begin suspending the employer match to retirement savings plans beginning in early October, said sources who received a message from the company on Tuesday.

“Given the current …

Source: Reuters

ProPetro to run more hydraulic fracturing fleets in coming months

Reuters


DENVER  – U.S. hydraulic fracturing firm ProPetro Holding Corp plans to run between seven to eight fleets this quarter, up from an average of four fleets in the second quarter, executives told investors on an earnings call on Wednesday.…

August 5, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, Fracing
Source: Reuters

U.S. crude oil inventories decrease by 7.4 million barrels

Weekly Crude Oil Storage as of July 31, 2020

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.4 million barrels from the previous week. At 518.6 million barrels, U.S. crude oil …

Source: Reuters

Oil prices at five-month high on big drop in U.S. crude stocks

Reuters


LONDON – Oil prices rose to their highest since early March on Wednesday on a drop in U.S. crude inventories and the weak dollar, but mounting coronavirus infections weighed on the demand outlook.

Brent crude was up $1.50, or …

EnerCom’s The Oil & Gas Conference: SM Energy presenting

EnerCom’s The Oil & Gas Conference: SM Energy presenting

The Oil & Gas Conference


Publisher’s Note:  1 x 1 investor meeting requests OPEN. SM Energy presenting.

Please register to join us this August 17-19, 2020 on our 25th Anniversary of The Oil & Gas Conference.

Unprecedented times call …

August 4, 2020 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: Reuters

China only fulfils 5% of Sino-U.S. energy trade deal in first half of 2020

Reuters


BEIJING/SINGAPORE – China bought only 5% of the targeted $25.3 billion in energy products from the United States in the first half of 2020, falling well short of its trade deal commitments at a time when relations between the …

August 4, 2020 - 3:00 pm China, Closing Bell Story‎, Crude Oil News, Energy News
360 Digital Closing Bell 8-4-2020

360 Digital Closing Bell 8-4-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

U.S. EPA receives recommendations on retroactive biofuel waivers: senator

Reuters


The U.S. Department of Energy has finished reviewing retroactive requests from refiners for exemptions from the nation’s biofuel blending laws and has sent recommendations on how to address those requests to the Environmental Protection Agency, Senator Chuck Grassley said …

August 4, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: CNBC

Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup

CNBC


Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.

U.S. West Texas

August 4, 2020 - 11:00 am Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

Calfrac investor Wilks Brothers launches rival restructuring deal

Reuters


Calfrac Well Services (CFW.TO) investor Wilks Brothers said on Tuesday it submitted a restructuring plan to reduce the company’s debt, and that its terms were better than those proposed by Canadian oilfield service provider’s management.

Wilks Brothers’ …

Source: CNBC

BP reports second-quarter loss after major write downs, halves dividend

CNBC


Energy giant BP reported a significant loss for the second quarter on Tuesday, after downgrading the value of some of its assets on expectations of lower commodity prices.

Second-quarter underlying replacement cost profit, used as a proxy for net

EnerCom’s The Oil & Gas Conference: Cimarex Energy presenting

EnerCom’s The Oil & Gas Conference: Cimarex Energy presenting

The Oil & Gas Conference


Publisher’s Note:  1 x 1 investor meeting requests OPEN. Cimarex Energy presenting.

Please register to join us this August 17-19, 2020 on our 25th Anniversary of The Oil & Gas Conference.

Unprecedented times call …

August 3, 2020 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
360 Digital Closing Bell 8-3-2020

360 Digital Closing Bell 8-3-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: CNBC

The UAE becomes the first Arab country to launch its own nuclear energy program

CNBC


DUBAI, United Arab Emirates — The United Arab Emirates announced Saturday the successful start up of its Barakah nuclear energy plant, the first in the Arab world and a significant step towards the country’s goal of emissions-free electricity.

With …

August 3, 2020 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Nuclear
Source: Reuters

Column: Hedge funds pull bullish bets on petroleum – Kemp

Reuters


LONDON – Hedge funds turned less bullish on petroleum at the end of July amid anticipated rises in OPEC+ production and growing concerns about the impact of resurgent coronavirus infections on the global economic outlook.

Money managers sold the …

August 3, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: CNBC

OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says

CNBC


OPEC  and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts.

The alliance’s historic …

Source: Reuters

GeoPark Announces The Appointment of Somit Varma to its Board of Directors

Oil and Gas 360


Publisher’s Note:  GeoPark will be presenting at The Oil & Gas Conference this coming August 17-19, 2020. 1 x 1 investor meetings are open, register to attend.

Bogota, Colombia – August 3, 2020 – GeoPark Limited …

Source: CNBC

Oil steady as virus fears counter positive factory data

CNBC


Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe …

Weatherford remotely installs liner hanger on russian offshore platform during COVID-19 lockdown – Tech that can save lives

Weatherford remotely installs liner hanger on russian offshore platform during COVID-19 lockdown – Tech that can save lives

Oil&Gas


Remote training and monitoring procedures enable successful installation using a restricted crew

Weatherford International plc (OTC Pink: WFTLF) announced it successfully and remotely used a restricted crew to install a 16-inch liner hanger on an offshore platform in Sakhalin …

August 3, 2020 - 6:00 am Crude Oil News, International, Offshore, Tech Corner, Technology
Noble Energy Announces Second Quarter Results
Featured Thumbnail

Noble Energy Announces Second Quarter Results

Noble Energy, Inc. (NASDAQ: NBL ) (“Noble Energy” or the “Companyȁ…

Egypt’s Giant Oil Pipeline Toward Europe Slows to a Trickle

Egypt’s Giant Oil Pipeline Toward Europe Slows to a Trickle

Bloomberg

Egypt’s Sumed pipeline was designed to pump 2.5 million barrels of Persian Gulf crude from the Red Sea to the Mediterranean every day. Since May, a slump in oil demand and OPEC+ oil production cuts seem to have combined …

August 2, 2020 - 7:57 pm Crude Oil News, International, Pipeline News
Source: Reuters/Rodrigo Garrido

Inside Texas Politics: U.S. Energy Secretary expects ‘strong economic recovery’ for oil and gas

The price of oil continues to be depressed & rig counts are down dramatically in the Permian Basin. But the second half of 2020 is looking up, Dan Brouillette said.

 


August 2, 2020 - 1:08 pm Crude Oil News, Economy, Jobs
FILE PHOTO: A well head and drilling rig in the Yarakta oilfield, owned by Irkutsk Oil Company (INK), in the Irkutsk region, Russia, March 11, 2019. REUTERS/Vasily Fedosenko/File Photo

Russia says July oil output in line with OPEC+ deal

Reuters


MOSCOW (Reuters) – Russia’s Energy Ministry said on Sunday that the country’s oil output in July was unchanged from levels seen in June, in line with an OPEC+ agreement.

The ministry added that its level of compliance with the …

August 2, 2020 - 12:59 pm Commodity Pricing, Crude Oil News, International
Oasis Midstream Partners Schedules Second Quarter 2020 Conference Call for August 5, 2020

Oasis Midstream Partners Schedules Second Quarter 2020 Conference Call for August 5, 2020

HOUSTON , July 31, 2020 /PRNewswire/ — Oasis Midstream Partners LP (Nasdaq: OMP) (“…

EnerCom’s The Oil & Gas Conference 1 x 1 investor meeting requests OPEN! Comstock Resources presenting

EnerCom’s The Oil & Gas Conference 1 x 1 investor meeting requests OPEN! Comstock Resources presenting

The Oil & Gas Conference


Publisher’s Note:  1 x 1 investor meeting requests OPEN! Comstock Resources presenting.

Please register to join us this August 17-19, 2020 on our 25th Anniversary of The Oil & Gas Conference.

Unprecedented times call …

July 31, 2020 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: Reuters

Oil set for fragile recovery as economies limp towards normal: Reuters poll

Reuters


Oil prices are set for a slow crawl upwards this year as the gradual easing of coronavirus-led restrictions buoy demand, although a second COVID-19 wave could slow the pace of recovery, a Reuters poll showed on Friday.

The survey …

July 31, 2020 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance