LONDON -OPEC on Thursday stuck to its prediction of a strong recovery in world oil demand in 2021 and further growth next year, despite concerns about the spread of the Delta coronavirus variant that has weighed on prices.
The …
HOUSTON, Aug. 11, 2021 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) today …
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DENVER – July 28, 2021 (PR Newswire)
CALGARY– Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demand in the country arrives via the United States, according to a new analysis by IHS Markit, a world …
LONDON – Moves to mitigate climate change are drawing peak oil demand closer, current and former OPEC officials told Reuters, potentially giving OPEC’s biggest players and their allies more power and leaving some smaller producers struggling.
Members of the …
Chesapeake Energy Corp said on Wednesday it would buy Haynesville basin-focused rival Vine Energy Inc for $615 million, betting on the shale field’s proximity to the U.S. Gulf Coast export hub.
Dealmaking in the oil and gas sector has …
U.S. President Joe Biden’s top aides are pressuring OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to global economic recovery.
Biden’s national security adviser Jake Sullivan criticized the …
CALGARY, Alberta, Aug. 10, 2021 (GLOBE NEWSWIRE) — Baytex Energy Corp. (TSX: BTE) is pleas…
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LONDON – Oil fell below $70 a barrel on Wednesday as the United States urged OPEC and its oil-producing partners to boost output, saying current production was not enough and could threaten the global economic recovery.
The price of …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 438.8 million barrels, U.S. crude oil …
DENVER – July 28, 2021 (PR Newswire)
HOUSTON (Bloomberg) –Shale drillers — some of them just emerging from bankruptcy — racked up a staggering $42 billion in new debt in the first half of the year.
It’s not what you think.
America’s oil explorers aren’t …
A Democrat in the U.S. House of Representatives introduced legislation on Tuesday extending tax credits to companies that domestically produce rare earth magnets, a sector currently dominated by China.
The bill is the latest in a string of U.S. …
HOUSTON – Oceaneering International has been awarded a contract from Esso Exploration and Production Guyana Limited to provide two surveys offshore Guyana.
The contract award covers a towed and autonomous underwater vehicle (AUV) geophysical survey and a shallow …
HOUSTON – Baker Hughes has been awarded a contract from Chevron Australia Pty Ltd to deliver subsea compression manifold technology for the Jansz-Io Compression (J-IC) Project.
Driven by Baker Hughes’ Subsea Connect early engagement approach, Baker Hughes will …
BENGALURU – Indian oil-to-telecoms conglomerate Reliance Industries Ltd RELI.NS said on Tuesday it would invest $144 million in U.S. energy storage company Ambri Inc, along with billionaire Bill Gates, investment management firm Paulson & Co and others.
The investment …
LONDON – Oil prices rose on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States outweighed concerns over an increase in COVID cases in Asian countries.
Brent crude was …
DENVER – July 28, 2021 (PR Newswire) Institutional investors, portfolio managers,
(Bloomberg) –The region at the heart of the once-booming U.S. shale industry is signaling confidence in a nascent recovery after the pandemic crushed demand and curtailed oil and gas drilling.
The Permian basin, which straddles West Texas and …
DUBAI – Saudi Aramco 2222.SE is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a $12.4 billion deal for its crude …
(Bloomberg) –The Biden administration faces the sobering reality that returning to the Iran nuclear deal may no longer be feasible, as the Islamic Republic finds ways to cope with U.S. sanctions and races toward the capacity to build …
Oil prices slid Monday, building on last week’s steep losses, as rising Covid cases prompted fears of a demand slowdown.
West Texas Intermediate crude futures declined 3.6% to trade at $65.85 per barrel. The contract traded as low as …
DUBAI – Saudi Arabian state oil producer Aramco (2222.SE) reported a near four-fold rise in second-quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand.
Aramco said its results were …
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) (“CorEnergy” or the “Company…
…DENVER – July 28, 2021 (PR Newswire) Institutional investors, portfolio managers,
Global miner BHP Group BHPB.L, BHP.AX said on Friday it would spend $544 million to develop its Shenzi North oil project in the Gulf of Mexico, and approved advancing its Trion oil project in Mexico into the design …
This week’s Baker Hughes rig count shows that U.S. had an increase of 3 over last week, resulting in a total count of 491 rigs. Canada had an increase of 3 over last week, resulting in …
SAO PAULO – Brazilian state-run oil firm Petroleo Brasileiro SA PETR4.SA has hired JPMorgan Chase & Co JPM.N as adviser to sell its stake in petrochemical company Braskem SA BRKM5.SA, three sources familiar with the matter said.
Earlier …
HOUSTON –With more consolidation brewing in the largest U.S. oil patch, the boss of one of the largest independent shale producers says he’s not interested, and warned that investors are still skittish about deals.
“There’s no more reason …
HOUSTON (Bloomberg) –Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch.
The Houston-based oil explorer agreed to buy closely held Primexx Energy Partners Ltd. …
