Crude Oil News

Source: Reuters

Shale bankruptcies pile on, Lonestar latest to succumb to weak demand

Reuters


Lonestar Resources US Inc LONE.O filed for Chapter 11 bankruptcy protection on Thursday, joining a clutch of shale companies that have succumbed to weak crude prices as COVID-19 pandemic crimps fuel demand.

Lonestar, which operates in Texas’ Eagle Ford …

October 1, 2020 - 12:50 pm Bankruptcy, Closing Bell Story‎, Crude Oil News, Energy News
Libya to export at least 240,000 b/d of crude in Oct

Libya to export at least 240,000 b/d of crude in Oct

Argus


London, 1 October  — Libya is set to export at least 240,000 b/d of crude this month, according to data compiled by Argus from shipping and trading sources.

October export schedules show that the recently reopened Zueitina terminal in …

October 1, 2020 - 12:28 pm Crude Oil News
Source: CNBC

How Biden’s $1.7 trillion climate plan would change America after Trump’s Big Oil presidency

CNBC


Looking for policy differences between President Donald Trump and his Democratic challenger former Vice President Joe Biden? The most stark may be on climate change, the issue that more than any other will shape America’s energy future.

Biden

Source: Reuters

Oil drops 5% on weak demand outlook and higher OPEC supplies

Reuters


NEW YORK  – Oil prices fell more than 5% on Thursday as rising coronavirus cases around the world dampened the demand outlook, and a rise in OPEC output last month also pressured prices.

Brent crude LCOc1 futures fell $2.22, …

Source: Reuters

Big Oil’s $110 billion asset sale target could prove big ask

Reuters


LONDON – Leading energy companies are hoping to sell dozens of oil and gas fields and refineries worth more than $110 billion to curb both their ballooning debt and their carbon footprints.

But with the outlook for oil and …

U.S. crude oil producers increased the amount and share of production covered by financial hedges in Q2 2020

U.S. crude oil producers increased the amount and share of production covered by financial hedges in Q2 2020

EIA


According to the U.S. Energy Information Administration’s (EIA) analysis of financial disclosures from 77 publicly traded U.S. crude oil producers, financial hedging activity in the second quarter (Q2) of 2020 increased year on year from the second quarter of …

September 30, 2020 - 9:01 pm Commodity Pricing, Crude Oil News, EIA News That Matters
Hess Sanctions Payara Development, Offshore Guyana

Hess Sanctions Payara Development, Offshore Guyana

Development of the Payara Field receives government approval Payara on trac…

Daily Energy Market Summary: 360 DCB – 9/30/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/30/2020 – Hosted by Michael Tanner

All major indices up as optimism over a new stimulus package help prop up what has been a choppy September to say the least. The Dow Jones last traded up 260 points, or 0.9%, after rising 550 points at its

Source: Reuters

The market’s worst-performing sector is due for some upside, two traders say. Here’s how they’d play it

CNBC


There could be upside in store for the market’s worst-performing sector.

S&P 500 energy stocks have underperformed the index’s 10 other sectors over a range of time frames including in Tuesday’s trading session, this week, this month, this year

Source: Reuters

OPEC September oil output rises for third month on Libya restart, Iran

Reuters


LONDON  – OPEC oil output has risen for a third month in September, a Reuters survey found, as a restart of some Libyan installations and higher Iranian exports offset strong adherence by other members to an OPEC-led supply cut …

Source: Reuters

Second tanker carrying Iranian fuel reaches Venezuelan waters -data

Reuters


The second of a group of three Iranian tankers entered Venezuelan waters on Wednesday, carrying fuel for the gasoline-starved nation, which is struggling under a collapsing oil industry and U.S. sanctions that have crippled imports and exports.

The Iran-flagged …

September 30, 2020 - 11:40 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

ConocoPhillips forecasts smaller-than-expected loss, to resume buybacks

Reuters


ConocoPhillips COP.N on Wednesday forecast a smaller-than-expected quarterly adjusted loss and said it would resume buying back its shares after a historic collapse in crude prices forced the U.S. oil and gas producer to halt the program in April.…

Source: Reuters

U.S. crude oil inventories decrease by 2.0 million barrels

Weekly Crude Oil Storage as of September 25, 2020

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 492.4 million barrels, U.S. crude oil …

Libyan oil output hits 300,000 barrels per day as fields, ports reopen

Libyan oil output hits 300,000 barrels per day as fields, ports reopen

Bloomberg


Oil & Gas 360 Publishers Note: We have been covering this story with the involvement of Turkey. This has also spilled over to the Mediterranean offshore disputes in territorial waters over drilling. Turkey and Libya have claimed an extensive

PetroTal Recommences Oil Production at the Bretana Field

PetroTal Recommences Oil Production at the Bretana Field

The Peruvian government and communities agree to funding plan Calgary, Alberta and Houston, T…

ConocoPhillips says Eagle Ford, for now, is chief focus in US unconventional arena

ConocoPhillips says Eagle Ford, for now, is chief focus in US unconventional arena

S&P Global


Houston — ConocoPhillips sees the US’ Eagle Ford Shale as its current main domestic activity focus, at a time when most large US upstream players are tapped out in the South Texas play, a top company executive said …

September 29, 2020 - 9:38 pm Crude Oil News, Exploration and Production (E&P)
Source: Reuters

Top U.S. oil refiner, Marathon Petroleum, begins widespread job cuts -sources

 


HOUSTON, Sept 29 (Reuters) – Marathon Petroleum Corp MPC.N, the largest U.S. oil refiner, on Tuesday began cutting employees at its U.S. operations as the COVID-19 pandemic further narrowed global demand for motor fuels, people familiar with plant …

September 29, 2020 - 9:20 pm Crude Oil News, Downstream, Economy, Jobs
OPEC Unlikely To Increase Output As Planned Starting January

OPEC Unlikely To Increase Output As Planned Starting January

Image source: Elise Aldram / Pixabay By Dmitry Zhdannikov, Julia Payne LONDON (…

September 29, 2020 - 3:54 pm Crude Oil News, Energy News, International, OPEC, Press Releases
Husky Completes Commissioning At Liuhua 29-1

Husky Completes Commissioning At Liuhua 29-1

CALGARY, Alberta, Sept. 29, 2020 (GLOBE NEWSWIRE) — Husky Energy (TSX:HSE) today anno…

Daily Energy Market Summary: 360 DCB – 9/29/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/29/2020 – Hosted by Michael Tanner

COVID-19 concerns hit the east coast hard, driving markets to its first loss in 4 trading days. The Dow Jones Industrial Average traded 130 points lower, or 0.5%. The S&P 500 fell 0.4% while the Nasdaq Composite dived 0.1%. New

Total joins BP in projecting an oil demand peak around 2030

Total joins BP in projecting an oil demand peak around 2030

Bloomberg


Total SE joined the ranks of oil companies anticipating a peak for the industry in the coming decade, saying demand growth will end around 2030.

While the French energy giant’s analysis is more conservative than that of BP, which …

September 29, 2020 - 12:56 pm Crude Oil News, International
Source: Reuters

Energy transitions and zero-carbon targets: Kemp

Reuters


LONDON  – Policymakers in many countries have outlined plans for an ambitious transition from a system dominated by oil, gas and coal in the 2010s to one centred around renewables, nuclear and carbon capture by the 2050s.

Experience suggests …

Source: Reuters

Top traders see tepid oil demand recovery, flat prices

Reuters


LONDON – The heads of the world’s largest trading houses on Tuesday predicted a tepid recovery in oil demand and flat prices over the coming months or years due to the coronavirus pandemic but said peak oil demand would …

September 29, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil falls as virus cases mount and U.S. debate looms

Reuters


LONDON – Oil prices dropped on Tuesday as Europe and the United States grappled with a surge in new coronavirus infections and investors remained cautious ahead of the first U.S. presidential debate.

Brent’s November contract LCOc1, which expires …

September 29, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Devon-WPX deal offers a playbook for future shale consolidation

Reuters


The latest business combination in the U.S. shale patch is signaling a path forward for the troubled sector.

In contrast to the bankruptcies of the past three months, Devon Energy DVN.N‘s $2.56 billion all-stock, low premium deal for

Daily Energy Market Summary: 360 DCB – 9/28/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/28/2020 – Hosted by Michael Tanner

New week means new bullish trends as the markets rip higher today, off the back of improved stimulus talks. House Speak Pelosi is set to speak to Treasury Secretary Mnuchin today with talks ongoing today.   

Oil and Gas News

Source: Reuters

Brazil’s Petrobras pays off $2 billion revolving credit line

Reuters


BRASILIA  – Brazilian state-controlled oil producer Petroleo Brasileiro S.A. PETR4.SA said on Monday that it has fully repaid the remaining $2 billion balance on its dollar-denominated revolving credit line, which will now allow it to access new facilities.

Petrobras …

September 28, 2020 - 1:30 pm Crude Oil News, Energy News, Finance
Source: CNBC

Oil steady as surge in virus cases clouds demand recovery

CNBC


Oil prices were slightly higher on Monday despite rising coronavirus cases that upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls in multiple months after last week’s …

September 28, 2020 - 12:30 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

Hedge funds race to cover crude short positions: Kemp

Reuters


LONDON – Hedge funds trimmed bearish positions in crude oil last week after Saudi Arabia threatened to punish short sellers and on signs that prices had found a floor after recent weakness.

Hedge funds and other money managers purchased

September 28, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: CNBC

Deadly Armenia-Azerbaijan clashes unlikely to cause an oil spike, analyst says

CNBC


Deadly clashes between Armenia and Azerbaijan are unlikely to result in major disruptions to energy production and supplies, analysts say, despite the region being a critical corridor for pipelines transporting oil and gas to the global markets.

“There is …

September 28, 2020 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, International