Crude Oil News

Source: Reuters

Column: Fund buying in oil stalls after prices top $60

Reuters


LONDON – Hedge funds added to their bullish positions in petroleum last week, but for the second week running, purchases were restricted to U.S. crude, with no buying elsewhere in the complex.

Traders anticipated ultra-low low temperatures would cause …

Source: Bloomberg

Petrobras’s $18 Billion Rout Deepens on Series of Downgrades

Bloomberg


A sell-off in Brazil’s state-controlled oil firm Petroleo Brasileiro SA picked up on Monday after a group of analysts downgraded the stock within 24 hours, following the government’s decision to replace the company’s chief executive officer.

Bradesco BBI, BTG …

February 22, 2021 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Share of Canada, U.S. in India’s January oil imports surges to record high: trade

Reuters


NEW DELHI – The share of Canada and the United States of America in India’s January oil imports surged to a record 11% while that of the Middle East and South America declined, data obtained from sources showed.

Asia’s …

Source: Reuters

Oil producers eye long road to recovery as Texas begins to thaw

Reuters


NEW YORK – Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as …

FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford/File Photo

OPEC, U.S. oil firms expect subdued shale rebound even as crude prices rise

Reuters


LONDON/HOUSTON  – OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC and its allies.

OPEC this month cut …

Source: Reuters

Oil prices rise with storm-hit U.S. output set for slow return

Reuters


LONDON – Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic.…

In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

Oil and Gas 360


Private and Publicly traded energy companies, industry leaders and capital providers talk 2021 plans in Dallas and online. In 2021, EnerCom is launching its Environmental, Social and Governance Summit as a part of the EnerCom Dallas

February 19, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News
Enerplus announces fourth quarter and full year 2020 financial and operating results and 2020 year end reserves

Enerplus announces fourth quarter and full year 2020 financial and operating results and 2020 year end reserves

Enerplus Announces Fourth Quarter and Full Year 2020 Financial and Operating Results and …

Source: Reuters

Italy’s Eni vows to become carbon neutral by 2050 in latest green push

Reuters


MILAN – Italy’s Eni on Friday became the latest energy group to increase its climate ambition with a promise to be carbon neutral by 2050, as it seeks to keep pace in an industry under mounting investor pressure to …

February 19, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
U.S. rig count had no change this week, stays at 397

U.S. rig count had no change this week, stays at 397

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had n0 increase over last week, resulting in a total count of 397 rigs. Canada had a decrease of 4 over last week, resulting in a total …

Source: Reuters

As power returns, Texas energy firms slowly emerge from deep freeze

Reuters


HOUSTON – Texas energy companies on Friday began preparing to resume oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries.

It will take several days for …

Source: Reuters

Oil extends losses as Texas prepares to ramp up output

Reuters


LONDON – Oil prices fell from recent highs for a second day on Friday as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather.

Brent crude futures were down 16 cents, or 0.3%, …

February 19, 2021 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News
In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

Oil and Gas 360


Private and Publicly traded energy companies, industry leaders and capital providers talk 2021 plans in Dallas and online. In 2021, EnerCom is launching its Environmental, Social and Governance Summit as a part of the EnerCom Dallas

February 18, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News
Source Reuters

Real-time oil appetite catches up with futures rally

Reuters


LONDON/SINGAPORE/MOSCOW – Sales of physical crude oil are gaining pace at higher prices following a rally in the futures market, traders and analysts said, as expectations mount of near-term increases in demand.

Global benchmark Brent futures are trading above …

Source: Reuters

TC Energy profit rises 13% on higher earnings from U.S. gas pipelines

Reuters


TC Energy Corp reported a 13.4% rise in fourth-quarter comparable profit on Thursday, partly helped by lower operating costs for its U.S. natural gas pipelines.

The company behind the Keystone XL oil pipeline, work on which was halted after …

U.S. crude oil inventories decrease by 7.3 million barrels

U.S. crude oil inventories decrease by 7.3 million barrels

Weekly Crude Oil Storage as of February 12, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.3 million barrels from the previous week. At 461.8 million barrels, U.S. crude oil …

Source: Reuters

Texas energy freeze stretches to sixth day, raises Mexico’s ire

Reuters


HOUSTON – Texas’s freeze entered a sixth day on Thursday, as the largest energy-producing state in the United States grappled with massive refining outages and oil and gas shutins that rippled beyond its borders into neighboring Mexico.

The cold …

Source: Houston Chronicle

Baker Hughes signs agreement to acquire ARMS Reliability to strengthen asset performance management portfolio

Baker Hughes


  • ARMS Reliability brings a broad range of industrial asset management solutions and expertise to build on Baker Hughes’ portfolio and service capabilities
  • Acquisition reinforces Baker Hughes’ commitment to accelerate the digital transformation of industrial assets, expanding reach in
In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

Oil and Gas 360


Private and Publicly traded energy companies, industry leaders and capital providers talk 2021 plans in Dallas and online. In 2021, EnerCom is launching its Environmental, Social and Governance Summit as a part of the EnerCom Dallas

February 17, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

U.S. shale could face weeks of depressed oil production due to cold

Reuters


HOUSTON – The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations.

Texas …

Source: Reuters

Texas power prices spike as deadly cold wave overwhelms grid

Reuters


Electricity prices in Texas soared this week as utilities scrambled for supplies to meet surging heating demand in the middle of a historic winter storm, prompting regulators to order a cap on prices.

Millions of Texans are without power …

February 17, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Exclusive: Kuwait plans to shorten oil supply deals for some Asian buyers – sources

Reuters


NEW DELHI – Oil producer Kuwait Petroleum Corp (KPC) is in talks to shorten its annual supply deals with some customers in India and Japan to nine months this year to meet demand from its new refinery, sources close …

February 17, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Saudi minister: Oil producers must remain extremely cautious

Reuters


DUBAI – Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Wednesday that it was too early to declare victory against the COVID-19 virus and that oil producers must remain “extremely cautious”.

“We are in a much better …

February 17, 2021 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, International, OPEC
Source: Reuters

Oil mixed on U.S. production fall, possible Saudi output rise

Reuters


LONDON – Oil prices were mixed on Wednesday, underpinned by a major supply disruption in the southern United States this week where a winter storm hit Texas, but pressured by reports that Saudi Arabia plans to increase output in …

In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

In person and virtual registration is Open for EnerCom Dallas The Energy Investment and ESG Conference, April 6-7, 2021

Oil and Gas 360


Private and Publicly traded energy companies, industry leaders and capital providers talk 2021 plans in Dallas and online. In 2021, EnerCom is launching its Environmental, Social and Governance Summit as a part of the EnerCom Dallas

February 16, 2021 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: CNBC

Energy prices jump as millions left without power in Texas

CNBC


Energy prices jumped Tuesday as a deep freeze in the South boosted demand for fuel and hampered production.

More than 4 million people were without power across Texas on Tuesday morning, according to poweroutage.us, as the electric grid couldn’t …

Source: Reuters

Resurgent Canadian natgas producers look to horn in on U.S. market

Reuters


CALGARY, Alberta – Canadian natural gas producers are bouncing back faster from the COVID-19 pandemic than battered U.S. shale firms, putting them in position to boost net gas exports to the United States for the first time in five …

Source: Reuters

EU to seek fossil fuel phase-out in energy charter treaty talks: document

Reuters


BRUSSELS – The European Union’s executive will push for a 10-year phase-out of the protection for fossil fuels under an international energy treaty, following calls from some countries to quit the accord unless it can be aligned with Europe’s …

Source: Reuters

Deep freeze shuts Houston ship channel as energy closures mount

Reuters


A deep freeze continued to wreak havoc on the U.S. energy sector, bringing operations to a halt at the Houston Ship channel, while several of the biggest oil refineries remained offline in the nation’s largest crude-producing state.

Overall, around …

Source: Reuters

Oil prices close to 13-month highs, supported by Texas cold snap

Reuters


LONDON- Oil prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in the oil-producing state of Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe.…