Crude Oil News

Wolf Carbon Solutions, ADM announce partnership to advance decarbonization of ethanol production

Wolf Carbon Solutions, ADM announce partnership to advance decarbonization of ethanol production

Oil and Gas 360


DENVER and CHICAGOJan. 11, 2022 /CNW/ – Wolf Carbon Solutions US LLC (Wolf Carbon Solutions) and ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, today announced that they have …

Canadian Overseas Petroleum Ltd announces significant U.S. discovery

Canadian Overseas Petroleum Ltd announces significant U.S. discovery

World Oil


Canadian Overseas Petroleum Limited, an international oil and gas exploration, production and development company with operations focused in Wyoming, USA, announced a significant conventional light oil discovery at its Wyoming asset. In addition, COPL provides an operational update …

Source: Oil Now

Operator spend in oil and gas sector to surpass US$400 billion this year – WoodMac

Oil Now


Consultancy group Wood Mackenzie says the oil and gas sector will continue to rebound this year, with operator spend expected to surpass US$400 billion and higher prices driving another year of record cash flow. Global supply chain disruption, …

Source: World Oil

Enterprise buys into Permian natural gas market with $3.3B acquisition

World Oil


(Bloomberg) –Enterprise Products Partners LP agreed to buy Navitas Midstream Partners LLC from Warburg Pincus LLC for $3.25 billion in cash to add natural gas pipeline and processing assets in the Permian Basin, the world’s most prolific shale …

Source: Oil Now

Low-carbon operations will become key asset, Exxon out front with tech

Oil Now


Carbon capture and storage, (CCS) clean hydrogen and floating offshore wind are all low-carbon technologies that are on the cusp of mass commercialisation and where the oil and gas sector could achieve leadership and massive scale. Keen to …

EnerCom and Colorado School of Mines announce preliminary presenting companies and keynote presentations at The Energy Venture Investment Summit, February 16 – 17, 2022

EnerCom and Colorado School of Mines announce preliminary presenting companies and keynote presentations at The Energy Venture Investment Summit, February 16 – 17, 2022

Oil and Gas 360


Publisher’s Note: Investment event to bring energy technology, investment professionals and industry together to share ideas and provide capital to innovations that will shape the future of energy. Investors can register now to attend The Energy

January 10, 2022 - 3:30 pm Closing Bell Story‎, Crude Oil News, EnerCom Inc, Energy News
Source: World Oil

Oilfield employment climbed in December despite cooling U.S. job market

World Oil


HOUSTON – Employment in the U.S. oilfield services and equipment sector rose by an estimated 7,450 jobs in December, despite the slow hiring in overall U.S. jobs, according to preliminary data from the Bureau of Labor Statistics (BLS) …

Source: Oil Now

Brazil looking to tap oil at same geologic trend delivering big discoveries in Guyana

Oil Now


Brazil’s state-run oil company Petrobras will begin exploration this year at a resource-rich region along the country’s northern coast that falls in the same geologic trend containing the massive offshore discoveries made in neighboring Guyana.

According to Petrobras …

January 10, 2022 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Source: World Oil

Shale drillers delaying emissions cuts from operations, says Federal Reserve

World Oil


HOUSTON (Bloomberg) –Less than half of oil and natural gas drillers in the U.S. Great Plains and Rocky Mountains plan to curb emissions of carbon dioxide and methane this year, according to the Federal Reserve Bank of Kansas …

Source: Reuters

U.S. greenhouse gas emissions jumped 6.2% in 2021-report

Reuters


WASHINGTON – U.S. greenhouse gas emissions rose by 6.2% from 2020 levels last year as the use of coal-fired electricity jumped 17% and drivers returned to the roads after the first year of the coronavirus pandemic, according to a

Source: Bloomberg

Canadian oil exports to Asia reach record with new U.S. link

World Oil


LONDON (Bloomberg) –Canada’s oil sands producers were able to export a record amount of crude to overseas markets thanks to a new link to the U.S. Gulf Coast.

The recent reversal of Marathon Pipe Line Inc.’s Capline pipeline …

Source: Oil Now

U.S. responding to soaring natural gas prices with major supply ramp up

Oil Now


“We have furnished the British great material support and we will furnish far more in the future. There will be no ‘bottlenecks’ in our determination to aid Great Britain.” President Franklin D. Roosevelt’s resounding commitment in 1940 to …

Source: Reuters

Oil prices prep for third weekly advance as supply lines fray

World Oil


SINGAPORE (Bloomberg) –Oil was poised for a third weekly gain as demand remained resilient while supplies are frayed across the OPEC+ coalition and beyond.

Futures increased again on Friday to trade near $80 a barrel in New York, …

Source: Reuters

Brazil’s Petrobras to sell Braskem stake by February

Nasdaq


SAO PAULO, Jan 7  – Brazilian state-run oil company Petrobras PETR4.SA said on Friday it expects to sell 100% of its preferred stake in petrochemical producer Braskem SA BRKM5.SA by February.

The detailed timeframe came after Petrobras announced earlier …

Canada’s Cenovus reaches share price highs not seen since 2017

Canada’s Cenovus reaches share price highs not seen since 2017

World Oil


(Bloomberg) –For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half …

Source: CNBC

Shell pursues $7 billion buyback ‘at pace’ despite LNG troubles

CNBC


Royal Dutch Shell said it will pursue its $7 billion share buyback program after selling its U.S. shale business “at pace” as its liquefied natural gas (LNG) production was hit once again by unplanned outages.

Fuel sales were also …

Source: Reuters

U.S. oil majors’ stock prices return to pre-pandemic levels

World Oil


HOUSTON (Bloomberg) –A rally in oil prices lifted U.S. energy stocks to the highest since the pandemic emerged more than two years ago.

The S&P 500 Energy Index rose 2.3% Thursday to the highest close since Jan. 7, …

Source: Reuters

Argentina moving forward with offshore drilling despite protests

Oil Now


(S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and …

January 7, 2022 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, Offshore
EnerCom and Colorado School of Mines announce preliminary presenting companies and keynote presentations at The Energy Venture Investment Summit, February 16 – 17, 2022

EnerCom and Colorado School of Mines announce preliminary presenting companies and keynote presentations at The Energy Venture Investment Summit, February 16 – 17, 2022

Oil and Gas 360


Publisher’s Note: Investment event to bring energy technology, investment professionals and industry together to share ideas and provide capital to innovations that will shape the future of energy. Investors can register now to attend The Energy

January 6, 2022 - 3:30 pm Closing Bell Story‎, Crude Oil News, EnerCom Inc, Energy News
Source: Reuters

Shell-backed U.S. solar developer raises $775 million in equity

Nasdaq


Jan 6 – Silicon Ranch Corp, the U.S. solar project developer backed by Royal Dutch Shell RDSa.L, on Thursday said it raised $775 million in equity capital from new and existing investors.

The announcement comes as renewable energy, …

Source: Oil Now

Exxon says technology, global experience delivering unprecedented success in Guyana

Oil Now


“This is not normal.” This is how the unprecedented success ExxonMobil has been having offshore Guyana is being described by head of its operations in the South American country, Alistair Routledge.

“We reached the huge milestone of declaring …

January 6, 2022 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Technology
Source: Reuters

Permian’s biggest oil producer closes 2022 hedges in bullish outlook

World Oil


HOUSTON (Bloomberg) –Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices.

The move will cost $328 million spread over …

Source: CNBC

‘Absolutely unprecedented’: Massive protests in Kazakhstan are making international shockwaves

CNBC


Over the span of just two days, what began as protests over spiking fuel prices have snowballed into the most serious unrest the Central Asian nation of Kazakhstan, a major energy producer and long a symbol of stability among …

Source: World Oil

Freezing weather hampers crude oil flow in northern U.S., Canada

World Oil


(Bloomberg) –A deep-freeze in Canada and Northern U.S. is disrupting oil flows, causing a surge in crude prices just as American stockpiles are declining.

With temperatures from North Dakota to Northern Alberta below zero Fahrenheit (-18 Celsius), TC …

January 6, 2022 - 10:30 am Canada, Canada News, Crude Oil News, Energy News
Source: Oil Now

Busy year ahead for Ecuador oil sector as gov’t moves to ramp up investments

Oil Now


(S&P Global Platts) Ecuador’s oil and gas industry is on track for a busy year of privatization and E&P contract overhauls in 2022 as President Guillermo Lasso seeks to open up the heavily indebted Andean country to foreign …

January 5, 2022 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: World Oil

Shell sends seismic vessel home after South African court loss

World Oil


(Bloomberg) – The vessel hired by Royal Dutch Shell Plc to look for potential oil and gas fields is on course to leave South African waters after community groups won a court case to temporarily halt the activity.…

January 5, 2022 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Oil Now

BREAKING: Guyana scores big again as Exxon hits two more discoveries

Oil Now


ExxonMobil and the Government of Guyana today announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.

 

The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The …

Source: CNBC

Nord Stream 2 could be major leverage against Russia — but using it is complicated

CNBC


Russia will lose tens of billions of dollars if a pipeline project to transport gas to Germany is abandoned — and that threat is something that Europe can use to pressure Moscow, according to a former German ambassador to …

Source: World Oil

NexTier stock jumps as frac demand swells revenue

World Oil


HOUSTON (Bloomberg) –NexTier Oilfield Solutions Inc. soared more than 20% after the frac provider disclosed higher-than-expected quarterly sales, signaling an acceleration in U.S. shale drilling.

The Houston-based provider of pumps that blast water, sand and chemicals underground to …

U.S. crude oil inventories decrease by 2.1 million barrels

U.S. crude oil inventories decrease by 2.1 million barrels

Weekly Crude Oil Storage as of December 31, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.1million barrels from the previous week.  At 417.9 million barrels, U.S. crude oil inventories …