Crude Oil News

U.S. rig count had an increase of 1 this week, at 764

U.S. rig count had an increase of 1 this week, at 764

Oil and Gas 360


This week’s Baker Hughes Rig Count shows that U.S. had an increase of 1 over last week, resulting in a total count of 764 rigs. Canada had an increase of 4 over last week, resulting in …

Source: World Oil

California to ban natural gas heaters by 2030

Oil Price


California has made yet another step on its way to complete reliance on renewable energy by banning the use of gas-powered water heaters and furnaces from 2030.

 

The proposal to ban these products was approved unilaterally by …

Source: Reuters

Oil prices edge down, recession fears back in focus

BOE Report


Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilization campaign in its war with Ukraine and an apparent deadlock in talks on reviving …

Exclusive: ESG Panel at EnerCom Denver-The Energy Investment Conference®

Exclusive: ESG Panel at EnerCom Denver-The Energy Investment Conference®

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PANELISTS WILL TALK ON THE INCREASING EMPHASIS OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) AND INVESTING IN THE ENERGY SECTOR.

MODERATED by: Petrie Partners, LLC is

Source: BOE Report

Canada not looking toward windfall taxes on fossil fuel companies, minister says

BOE Report


OTTAWA – Environment Minister Steven Guilbeault isn’t warming to the idea of combating climate change by imposing a windfall tax on the massive profits being posted by Canadian energy companies.

U.N. Secretary-General António Guterres this week said fossil …

Source: Reuters

Failing to invest in oil and gas would be the “Road to hell for America”

Oil Price


Cutting off investments in fossil fuels would be the road to hell for the United States. This is what JP Morgan’s chief executive Jamie Dimon said during a congressional hearing on a range of topics.

 

“Please answer …

Source: Reuters

Ban on gas fracking in England lifted in push for energy independence

Yahoo


Fracking can go ahead in England, the government said on Thursday, lifting a ban on the controversial process. A moratorium was put in place in 2019 following concerns over earth tremors. But with the energy crisis worsening globally and …

Source: Talos Energy

Talos Energy announces strategic acquisition of EnVen Energy, increasing operational scale and improving financial profile through the addition of oil-weighted, deepwater assets with significant infrastructure

Oil and Gas 360


HOUSTONSept. 22, 2022 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced the execution of definitive agreements to acquire EnVen Energy Corporation (“EnVen”), a private operator in the deepwater U.S. …

Exclusive: Donovan Ventures at EnerCom Denver-The Energy Investment Conference®

Exclusive: Donovan Ventures at EnerCom Denver-The Energy Investment Conference®

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Donovan Ventures established a structured credit platform in 2021 to help upstream producers raise capital through the securitization of producing oil and gas assets.

The

Source: Reuters

Exclusive-Cheniere to fix Louisiana LNG plant after failing pollution test

Investing


Top U.S. LNG exporter Cheniere Energy (NYSE:LNG) Inc said it will repair and replace equipment at its Louisiana terminal after tests showed it exceeded newly-imposed hazardous emissions limits on certain known carcinogens, but the work will have …

September 21, 2022 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, LNG, Regulatory
Source: Reuters

U.S. natgas jumps 4% on rising demand, renewed rail strike worries

BOE Report


U.S. natural gas futures jumped about 4% to a near one-week high on Wednesday, on forecasts for stronger U.S. gas demand this week than previously expected and renewed worries about a possible U.S. rail strike.

A rail strike …

Source: Reuters

Oil dips as U.S. dollar soars; gasoline demand declines

Reuters


NEW YORK – Oil prices slid about 1per cent to a near two-week low on Wednesday as the U.S. dollar soared, the country’s gasoline demand declined and investors worried about a possible global recession.

Trading was volatile, with prices …

Source: Fox Business

Energy CEO hits at ‘energy ignorance’ driving current policy: ‘Little hope of ending the crisis anytime soon’

Fox Business


The ongoing energy crisis was preceded by a decade of red flags that went mostly ignored and global plans to transition from conventional energy sources to renewable options failed to address key issues, according to a chief executive …

Source: Houston Business Journal

Magnolia Oil & Gas Corporation appoints Christopher Stavros as President and Chief Executive Officer and to the Board of Directors


HOUSTON–(BUSINESS WIRE)–Magnolia Oil & Gas Corporation (“Magnolia” or the “Company”) (NYSE: MGY) today announced that Christopher Stavros, the Company’s current Executive Vice President and Chief Financial Officer, has been named President and
U.S. crude oil inventories increase by 1.1 million barrels

U.S. crude oil inventories increase by 1.1 million barrels

Weekly Crude Oil Storage as of September 16, 2022

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.1 million barrels from the previous week.  At 430.8 million barrels, U.S. crude oil …

Exclusive: Bayswater at EnerCom Denver-The Energy Investment Conference®

Exclusive: Bayswater at EnerCom Denver-The Energy Investment Conference®

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Bayswater (and the Bayswater Companies) is a Denver based Oil and Gas development company that was founded in 2004.

The Companies have historically owned and

Source: World Oil

Biden to release 10 million reserve oil barrels ahead of EU’s Russian ban

World Oil


(Bloomberg) — The Department of Energy will offer additional U.S. reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December.

 

The agency will offer 10 million barrels of low-sulfur …

Exclusive: Evolution Petroleum at EnerCom Denver-The Energy Investment Conference®

Exclusive: Evolution Petroleum at EnerCom Denver-The Energy Investment Conference®

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Evolution Petroleum is an oil and natural gas company focused on delivering a sustainable dividend yield to its shareholders through the ownership of and investment

Source: Reuters

OPEC+ supply shortfall now stands at 3.5% of global oil demand

Nasdaq


LONDON – OPEC+ is now producing below its targets by a record 3.58 million barrels per day – about 3.5% of global demand – highlighting underlying tight supply in the oil market, even as recession fears drag oil prices …

Source: Reuters

U.S. refiners eye Canadian oil once strategic reserve turns off taps

Yahoo News


NEW YORK – U.S. refiners are expected to buy more Canadian oil after the Biden administration ends releases from the Strategic Petroleum Reserve (SPR) this fall, traders said, adding this should boost the price of Canadian barrels at …

Source: Reuters

Coal rush! Energy crisis fires global hunt for polluting fuel

US News


DAR ES SALAAM  – The sleepy Tanzanian port of Mtwara mainly dealt in cashew nuts until late last year. Now it bustles with vessels loading up with coal, as Russia’s invasion of Ukraine drives a worldwide race for …

Source: World Oil

Arabian Drilling Co. hires Goldman, HSBC, SNB Capital for IPO

World Oil


(Bloomberg) — Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs Group Inc, HSBC Holdings Plc and SNB Capital to manage its IPO in Riyadh, seeking to join a steady stream …

Source: Reuters

Global oil demand dropped by over 1 million bpd in July

Oil Price


Global oil demand fell by an estimated 1.1 million barrels per day (bpd) in July this year the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. Historically, global oil demand normally rises rather than …

Source: Reuters

U.S. natgas futures slip 1% to 6-week low on lower demand forecast

Nasdaq


U.S. natural gas futures slid about 1% to a six-week low on Monday on forecasts for lower demand over the next two weeks than previously expected and near record output.

 

Traders also noted prices were down on expectations …

Source: Oil Price

The unintended consequences of the EU energy emergency plan

Oil Price


This week saw the European Commission’s President Ursula von der Leyen do something that would have probably been considered the opposite of democracy just a few years ago.

 

 

She proposed that governments impose a ceiling on …

Source: Reuters

Oil falls over 2% on demand fears and strong dollar

Reuters


LONDON – Oil fell by more than 2% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline.

Central banks around …

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We give investment

Source: Oil Price

Oil exports from Iraq’s Basra Port stop—repair could take weeks

Oil Price


An oil spill has forced a shutdown of all crude oil exports from Iraq’s Basra Port, oil sector sources said on Friday, cited by Reuters.

 

With four tanker berths, the Basra oil terminal can process 3.3 million …

Source; Reuters

Analysis: Lower oil prices defy robust forecasts for global demand

Yahoo Finance


LONDON – Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is actually predicting one.

Two of the …

September 16, 2022 - 12:30 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
U.S. rig count had an increase of 4 this week, at 763

U.S. rig count had an increase of 4 this week, at 763

Oil and Gas 360


This week’s Baker Hughes Rig Count shows that U.S. had an increase of 4 over last week, resulting in a total count of 763 rigs. Canada had an increase of 6 over last week, resulting in …