Crude Oil News

Source: Reuters

Column: Hedge funds sell oil as doubts about economy resurface

Reuters


LONDON – Hedge funds turned heavy sellers of petroleum last week as the threat of conflict in the Middle East receded and was replaced by renewed concerns about the health of the global economy.

Hedge funds and other money …

Source: Houston Chronicle

Oil and gas firms must invest in clean energy solutions to survive: IEA

Houston Chronicle


Oil and gas companies put their own survival at risk if they fail to adapt to providing clean-energy solutions to the world, the International Energy Agency said in a report Monday.

The Paris-based IEA said the largest oil and …

Source: Reuters

Vessel carrying Guyana’s first-ever oil cargo sets sail for the U.S.: Tanker Trackers

Reuters


A vessel carrying about 1 million barrels crude oil from Guyana set sail on Monday for the United States, according to vessel tracking service TankerTrackers.com, ushering the tiny South American nation into ranks of the world’s oil exporters.

The …

Source: Reuters

U.S. grants Chevron another three months for Venezuela operations

Reuters


CARACAS – The U.S. Treasury Department on Saturday granted permission for Chevron Corp, the last major U.S. oil company operating in Venezuela, to continue working in the country until April 22.

The United States last year imposed sanctions that …

Source: Reuters

Oil rises as Libya declares force majeure in oilfields

Reuters


LONDON – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a …

Evolution Well Services Announces 24-Month Agreement for 100% Electric Fracturing Fleet

Evolution Well Services Announces 24-Month Agreement for 100% Electric Fracturing Fleet

Evolution Well Services Announces 24-Month Agreement for 100% Electric Fracturing Fleet

January 20, 2020 - 8:15 am Crude Oil News, Fracing, Press Releases
Frontera Announces an Operational Update

Frontera Announces an Operational Update

Frontera Announces an Operational Update

International Maritime Industries Signs Two “New Build Rig Orders” With ARO Drilling

International Maritime Industries Signs Two “New Build Rig Orders” With ARO Drilling

International Maritime Industries Signs Two “New Build Rig Orders” With ARO Drilling

Petroteq Announces Closing of Financing

Petroteq Announces Closing of Financing

Petroteq Announces Closing of Financing

January 17, 2020 - 5:00 pm Crude Oil News, Finance, Oil Sands, Press Releases, Sustainability
Source: Houston Chronicle

Oil has nearly made back week’s losses

Houston Chronicle


Oil erased most of its loss for the week, as the price gain after the signing of the U.S.-China trade agreement offset signs that supplies remain plentiful.

 

The phase-one deal committed Beijing to $52.4 billion in additional …

U.S. rig count up 15 this week, at 796

U.S. rig count up 15 this week, at 796

This week’s Baker Hughes rig count shows that U.S. numbers increased by 15, resulting in the total count increasing to 796 rigs.

Canada increased over last week by 41 rigs, resulting in a total Canadian count of 244 rigs.

U.S. rig count up 15 this week, at 796- oil and gas 360

Breakdown

Schlumberger posts $10.1 billion loss in 2019

Schlumberger posts $10.1 billion loss in 2019

Houston Chronicle


Schlumberger, the largest oil-field service company in the world, lost $10.1 billion in 2019 as a result of hefty write-downs on two past acquisitions and weakening demand for hydraulic fracturing services in the United States and Canada.

The …

January 17, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Finance, Oilfield Services
EIA forecasts slower growth in natural gas-fired generation while renewable energy rises

EIA forecasts slower growth in natural gas-fired generation while renewable energy rises

EIA


This increase in renewables, along with forecast increases in natural gas fuel costs, contributes to EIA’s forecast of a 2.3% decline in natural gas-fired generation in 2021. U.S. coal generation in 2021 is forecast to fall by 3.2%.

EIA forecasts slower growth in natural gas-fired generation while renewable energy rises - oilandgas360

In …

Obsidian Energy Provides Operational and Hedging Update

Obsidian Energy Provides Operational and Hedging Update

Obsidian Energy Provides Operational and Hedging Update

GeoPark Announces Closing of Amerisur Acquisition

GeoPark Announces Closing of Amerisur Acquisition

GeoPark Announces Closing of Amerisur Acquisition

Source: Reuters

China’s U.S. crude buying binge to set off global sweet oil shake-up

Reuters


SINGAPORE – Sharply higher Chinese purchases of U.S. energy products as part of the China-U.S. trade deal will shake up global crude oil trade flows if American supplies squeeze rival crudes out of the top oil import market, trade …

Source: Houston Chronicle

Iraq Oil Supplies Vulnerable as Mideast Tensions Flare, IEA Says

Houston Chronicle


Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned.

Crude prices briefly soared to a three-month high above $70 …

Source: CNBC

Citi explains why there’s an ‘ultimate cap’ on oil prices

CNBC


The cost of producing electricity from solar energy has in the last two years been lower than that of fossil fuels — and that “permanent change” will limit how high oil prices can climb, according to Citi.

That shift is …

Northern Oil and Gas, Inc. announces further debt reduction

Northern Oil and Gas, Inc. announces further debt reduction

Oil and Gas 360


MINNEAPOLIS – Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) today announced that it has entered into an agreement with an institutional holder of its 8.5% Senior Secured Second Lien Notes due 2023 (the “Notes”) …

Source: Reuters

Oil gains on U.S.-China deal, but IEA forecast pressures prices

Reuters


LONDON/TOKYO – Oil rose on Thursday as the long-awaited Phase 1 trade deal between the United States and China brought some relief to markets, but the gains were capped after the International Energy Agency said it expected oil production …

January 16, 2020 - 11:00 am Crude Oil News, Energy News, International, Natural Gas News
Source: Houston Chronicle

A sector in disarray’: Oil majors live beyond their means on investor payouts, study finds

Houston Chronicle


The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.

The study from the Cleveland-based Institute for Energy Economics …

Indonesia Energy Corporation Announces 2020 Development Plans

Indonesia Energy Corporation Announces 2020 Development Plans

Indonesia Energy Corporation Announces 2020 Development Plans

Ring Energy, Inc. Releases Fourth Quarter and Twelve Month 2019 Operations Update

Ring Energy, Inc. Releases Fourth Quarter and Twelve Month 2019 Operations Update

Ring Energy, Inc. Releases Fourth Quarter and Twelve Month 2019 Operations Update

Noble Energy Provides Update on Successful Leviathan Startup

Noble Energy Provides Update on Successful Leviathan Startup

Noble Energy Provides Update on Successful Leviathan Startup

As Aramco hails record IPO, Abu Dhabi’s ADNOC whips up $19 billion

As Aramco hails record IPO, Abu Dhabi’s ADNOC whips up $19 billion

Reuters


Dubai – The talk’s all been about Saudi Aramco, and the suspense of its historic drive to whip up international cash. But, more quietly, its Gulf oil peer ADNOC has also been courting foreign funds – and its efforts …

January 15, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Houston Chronicle

Peak Permian oil output is closer than you think, investor says

Houston Chronicle


Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor.

Adam Waterous, who runs Waterous Energy Fund, regards …

Source: Reuters

OPEC expects lower demand for its oil as U.S. hits new milestone

Reuters


LONDON – OPEC expects lower demand for its crude oil in 2020 even as global demand rises, it said on Wednesday, as rival producers grab market share and the United States looks set for another output record.

The United …

January 15, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

U.S. crude oil inventories decrease by 2.5 million barrels

Weekly Crude Oil Storage as of January 10, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.5 million barrels from the previous week. At 428.5 million barrels, U.S. crude oil inventories …

Source: CNBC

Europeans trigger dispute mechanism in urgent bid to save Iran nuclear deal

CNBC


DUBAI, United Arab Emirates — After more than 18 months of sticking up for the Iran nuclear deal after the U.S. administration left it in May 2018, European Union signatories have triggered a dispute mechanism in the accord over 

PDC Energy, Inc. Completes Merger with SRC Energy Inc.

PDC Energy, Inc. Completes Merger with SRC Energy Inc.

PDC Energy, Inc. Completes Merger with SRC Energy Inc.