Crude Oil News

Source: Reuters

Barclays says oil demand ‘healing’ even as COVID rages across Asia

Nasdaq


A gradual oil demand recovery is largely on track as economies re-open, British bank Barclays said on Friday, adding that it remained constructive on oil prices despite rising coronavirus cases across Asia and potential return of Iranian supplies.

It …

Oasis Petroleum Inc. announces strategic sale of its Permian assets and updates 2021 outlook

Oasis Petroleum Inc. announces strategic sale of its Permian assets and updates 2021 outlook

Oasis Petroleum Inc. Announces Strategic Sale of Its Permian Assets and Updates 2021 Outl…

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

Institutional investors, portfolio managers, financial analysts, CIOs and other investment community …

Source: CNBC

Energy expert Dan Yergin says the U.S. is looking for a way to ‘peel Russia back’ from China

CNBC


The U.S. wants Russia to pivot away from China, and may be showing flexibility on sanctions as an “olive branch,” according to Daniel Yergin, vice chairman of IHS Markit.

Washington on Wednesday imposed sanctions on some vessels and entities …

Source: CNBC

Tensions will likely grow as China seeks bigger role in the Arctic

CNBC


China’s ambitions to take a more significant role in the Arctic will likely lead to growing tensions, according to risk consultancy firm Control Risks.

China has developed a “prominent presence” in the region since joining the Arctic Council as …

Source: CNBC

Dubai launches region’s ‘first industrial scale’ green hydrogen plant

CNBC


A Dubai-based project described as the “first industrial scale, solar-driven green hydrogen facility in the Middle East and North Africa” has been inaugurated, with those behind the development hoping it will help catalyze the region’s renewable energy sector.

In …

Source: Reuters

U.S. lawmakers to propose tax credit for sustainable aviation fuel

Nasdaq


NEW YORK- U.S. lawmakers plan to introduce a bill on Thursday that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry.

The legislation, seen by …

Source: Reuters

Oil falls with possible return of Iranian supply

Reuters


LONDON -Oil prices were on course for a third day of losses on Thursday after diplomats said progress was made towards a deal to lift sanctions on Iran, which could boost crude supply.

Retracing some earlier losses, Brent crude …

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

Institutional investors, portfolio managers, financial analysts, CIOs and other investment community …

Source: CNBC

Out of tech, into energy: Trader predicts further market rotation after this chart signal

CNBC


The rotation out of technology may be facing yet another catalyst.

 

If energy’s outperformance persists, it could force more investors to rebalance their portfolio, leaving tech behind in favor of the former laggard, Miller Tabak’s Matt Maley told

Source: Reuters

Colonial Pipeline paid hackers nearly $5 million in ransom

Bloomberg


(Bloomberg) — Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, …

Source: Reuters

Iran’s oil exports, on rising trend, drop in May as China buying ebbs

Reuters


LONDON – Iranian oil exports, which have been on a rising trend while talks make progress on reviving the 2015 nuclear deal, have dropped so far in May, according to three assessments, reflecting a lull in demand from China.…

Source: BOE Report

Oil prices fall on rising COVID-19 infections in Asia, inflation fears

BOE Report


Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit …

Canacol Energy Ltd. provides operations update

Canacol Energy Ltd. provides operations update

CALGARY, Alberta, May 19, 2021 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “C…

Marathon Petroleum Corp. announces redemption of outstanding 5.125% senior notes due 2024

Marathon Petroleum Corp. announces redemption of outstanding 5.125% senior notes due 2024

Marathon Petroleum Corp. announces redemption of outstanding 5.125% senior notes due 2024…

U.S. crude oil inventories increase by 1.3 million barrels

U.S. crude oil inventories increase by 1.3 million barrels

Weekly Crude Oil Storage as of May 14, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.3 million barrels from the previous week. At 486.0 million barrels, U.S. crude oil …

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

Institutional investors, portfolio managers, financial analysts, CIOs and other investment community …

Source: CNBC

Yellen pushes higher taxes, stronger unions, more global competition to U.S. Chamber

CNBC


Treasury Secretary Janet Yellen called on Tuesday for business leaders to pay higher taxes to support government stimulus spending, and backed stronger labor unions and lowering barriers to foreign competition.

In a speech to the U.S. Chamber of Commerce, …

Source: Reuters

Cenovus sells Marten Hills royalty interest for more than $100 million

 

Calgary, Alberta (May 18, 2021) – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. The …

GeoPark reports on the ongoing situation in Colombia

GeoPark reports on the ongoing situation in Colombia

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), …

Source: Reuters

Colonial Pipeline’s shipping communications system is down

Fox Business


The communications system used by shippers on the Colonial Pipeline, which transports more than 100 million gallons of fuel per day, nearly half of the East Coast’s supply, has been knocked offline.

“Our internal server that runs our …

HighPeak Energy, Inc. announces first quarter 2021 results

HighPeak Energy, Inc. announces first quarter 2021 results

FORT WORTH, Texas, May 17, 2021 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak…

Source: Reuters

Gazprom shrugs off renewables with prediction of rising gas demand

Nasdaq


MOSCOW, May 18 (Reuters) – Russian gas giant Gazprom GAZP.MM expects demand for natural gas to grow in the coming decades and for it to play a bigger role in energy consumption than renewable sources and hydrogen, a company …

Source: Reuters

Column: Bearish signal for crude as China again draws on inventories

Reuters


LAUNCESTON, Australia  – China is likely to have dipped into its crude oil stockpiles in April, the third time in the past seven months it has done so, a sign that the era of massive inventory builds may be …

Source: Reuters

Shell shareholders increase pressure for further climate action

Reuters


LONDON – Royal Dutch Shell shareholders overwhelmingly backed the company’s energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change.

A non-binding resolution …

Source: CNBC

Oil hits two-month high as Europe and U.S. reopen economies

CNBC


Oil rose on Tuesday to hit $70 a barrel for the first time since March, as expectations of demand recovery following reopenings of the European and U.S. economies offset concern over spreading coronavirus cases in Asia.

The British economy …

Source: Reuters

Ditch new fossil fuel spending to reach net zero emissions – IEA

Reuters


LONDON – Investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, calling instead for a large expansion of …

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

Registration is open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021.

Institutional investors, portfolio managers, financial analysts, CIOs and other investment community …

Source: Reuters

Column: Global crude oil bulls are running past China, India bears

Reuters


LAUNCESTON – Asia may be a late arrival to the impending crude oil party.

The oil market is largely convinced that a strong recovery in demand is imminent, based on the view that the world is recovering from the …

Source: Reuters

BP’s lobbying for gas shows rifts over path to net-zero emissions

Reuters


LONDON/BRUSSELS – Oil major BP BP.L has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role of the fossil fuel in the transition …