WASHINGTON -U.S. President Joe Biden’s global energy security adviser said on Monday that Russian President Vladimir Putin is getting close to using natural gas as a political tool if Russia is holding back fuel exports to Europe as it
(Bloomberg) –China aims to have non-fossil energy consumption exceed 80% of its total mix by 2060, when the world’s second-biggest economy plans to be carbon neutral, according to guidelines published by the official Xinhua News Agency.
The measures …
CALGARY (Bloomberg) –Canada’s oil sands are known for yielding some of the heaviest, most carbon-intensive oil in the world but it’s the light crude that the country produces that is most in demand at the moment.
Refiners across …
By Tim Rezvan-EnerCom, Inc.
3Q earnings season is about to begin for the E&Ps, with large cap diversified operator Hess (NYSE: HES) and mid cap Permian pure play Matador (NYSE: MTDR) both on the docket for …
(Bloomberg) –Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub.
Front-month futures in New York traded below $83, paring an earlier …
(Bloomberg) –Royal Dutch Shell is hoping to restart its Ursa oil and gas platform in the U.S. Gulf of Mexico as early as the first half of November, according to a person familiar with the matter who asked …
WINNIPEG, Manitoba (Reuters) – Canada’s oil producers face new pressure from Prime Minister Justin Trudeau to reduce emissions in just three years, a sudden acceleration of their plans that at least one major company said looks unrealistic.
Suncor Energy, …
HOUSTON (Bloomberg) –An oil-data startup backed by Palantir Technologies Inc. co-founder Joe Lonsdale plans to help energy explorers, bankers and investors figure out how much crude and natural gas reserves trapped underground are really worth.
Zeno Technologies wants …
WASHINGTON – Top executives from Exxon Mobil Corp, BP America, Chevron Corp and Shell Oil will testify on Oct. 28 at a congressional hearing examining whether the fossil fuel industry led an effort to mislead the public and prevent …
This week’s Baker Hughes rig count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 542 rigs. Canada had a decrease of 4 over last week, resulting in …
Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on Friday as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment.
Energy services firms are
(Bloomberg) –Soaring energy prices are exacerbating divisions in the European Union as national leaders brace for heated talks about how to protect the most vulnerable and avoid a backlash against the bloc’s ambitious climate change plan.
The unprecedented …
NEW YORK/WASHINGTON – U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden’s administration scrutinizes deals in a bid to tackle soaring …
Saudi Arabia’s finance minister has told CNBC that an “even worse” energy crisis could be triggered if the world is not careful with its climate policies.
“If we are not careful about what we are doing to achieve our
Oilfield firm Baker Hughes Co reported quarterly profit that fell short of analyst expectations on Wednesday, in part due to global supply chain issues, sending its shares down sharply in early trading.
Oil service firms are expected to be …
NEW DELHI/LONDON, Oct 20 – The current energy crisis is a wake-up call for the need to invest more in the sector to avoid another energy supply crunch, Abu Dhabi National Oil Company (ADNOC) Chief Executive Sultan al-Jaber told …
LONDON — As world leaders prepare for one of the most important climate summits ever held, U.N.-backed research shows governments are collectively planning to extract far more fossil fuels than would be consistent with global climate targets.
The …
HOUSTON (Bloomberg) –Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy.
Work will begin on …
NEW YORK – Oil prices edged higher on Wednesday, rebounding from early losses after U.S. crude stockpiles unexpectedly fell and inventories at the nation’s largest storage site hit their lowest level in three years.
Brent crude futures rose 26 …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 426.5 million barrels, U.S. crude oil …
More oil and gas companies, including those headquartered in North Texas, are turning an eye to environmental and social governance as investors and regulators continue applying pressure.
In direct response to investor demand, more companies are incorporating …
(Bloomberg) –Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge.
While total production in the U.S. is still lagging, the Permian Basin of West …
Energy crisis makes multi-year energy contracts fashionable again.
(Bloomberg) –U.S. manufacturers and other large energy users are starting to lock in natural gas and power costs for at least three years or longer to buffer against price surges …
U.S. oilfield firm Halliburton Co on Tuesday posted its third consecutive quarterly profit and said customer spending in the United States could jump 20% next year, as stronger oil prices and drilling activity boost demand for services and equipment.…
NEW YORK, Oct 18 – A surge in oil prices is drawing fund managers back into shares of oil and gas companies, even as some remain unsure that the price gains will stick.
Energy stocks in the S&P 500 …
(Bloomberg) –Banks are gradually offering more credit to U.S. shale oil and natural gas producers as the industry recovers from last year’s contraction and energy prices rally.
So-called borrowing bases will increase as much as 20% during the …
(Bloomberg) –Oil continued its advance from the highest close in seven years as the U.S. dollar fell and investors assessed the energy crunch roiling global markets.
Futures in New York surpassed $83 a barrel Tuesday, gaining as much …
WASHINGTON – In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will average $5.67 per million British thermal units (MMBtu) between October and March, …
As energy sector demand roars back and commodities market pundits talk about the return of $100 oil, there are new factors in the energy sector pushing producers to extract less — from greater fiscal discipline in the U.S.
