Saudi Arabia formally started its long-anticipated initial public offering of its state-run oil giant Saudi Aramco on Sunday, which will see a sliver of the firm offered on a local stock exchange in hopes of raising billions of dollars for …
This week’s Baker Hughes rig count shows that U.S. numbers declined by 8, resulting in the total count falling to 822. Canada decreased by 5 last week as well, resulting in a total Canadian count of 142.
Source: Reuters
NEW YORK (Reuters) – Oil prices rose 2% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers.
Brent crude was up $1.16, …
The Keystone crude pipeline was shut Wednesday after leaking thousands of barrels of crude in North Dakota, the third spill along the pipeline’s route in less than three years.
TC Energy Corp.’s 590,000 barrel-a-day pipeline that carries crude …
Source: Reuters
NEW YORK (Reuters) – U.S. crude production soared nearly 600,000 barrels per day in August to record of 12.4 million, buoyed by a 30% increase in Gulf of Mexico output, according to government data released on Thursday.
The …
Source: Reuters
LONDON (Reuters) – Darkening clouds over the global economy have led two of the world’s top oil firms to warn investors that promised growth in returns could be at risk for the first time since the 2014 oil …
Source: Houston Chronicle
Oil slid the most in two weeks after Saudi Arabia boosted crude output by more than a million barrels a day against the backdrop of renewed worldwide trade woes.
Futures fell as much as 2.5% in New …
Source: Reuters
LONDON (Reuters) – Royal Dutch Shell warned on Thursday that uncertain economic conditions could slow its $25 billion share buyback program, the world’s largest, after its third-quarter profits easily beat expectations on strong oil and gas trading.
The …
Source: Houston Chronicle
The nation’s supplies of commercial crude oil spiked by 5.7 million barrels last week, but declines in refined products caused overall petroleum supplies to fall for an unprecedented fourth consecutive week.
Crude oil prices dipped a bit …
Source: Reuters
NEW YORK (Reuters) – U.S. crude oil stockpiles soared last week amid higher imports and a release from national reserves, while gasoline and distillate inventories extended their declines even as refiners ramped up production, the Energy Information Administration …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.7 million barrels from the previous week. At 438.9 million barrels, U.S. crude oil inventories …
Source: Reuters
LAGOS/LONDON (Reuters) – Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said.
Chevron joins rivals …
Source: Houston Chronicle
Oil declined for a second day on expectations of rising inventories at a key pricing point in Oklahoma.
Futures in New York fell as much as 1.4% after dropping 1.5% Monday. Genscape Inc. said oil stored at …
Source: Reuters
NEW YORK (Reuters) – Enterprise Products Partners LP said on Monday it expects its Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions will add about 450,000 barrels per day (bpd) each of additional capacity.
Midland-to-ECHO 4 is …
Source: Reuters
RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks …
Source: Reuters
NEW YORK (Reuters) – Oil prices eased on Monday after four days of gains as worries about weak Chinese industrial data offset hopes oil demand will rise as talks progress on a Sino-American trade deal.
Brent futures were …
Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg TV interview.
U.S. shale production has turned the …
At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources.…
This week’s Baker Hughes rig count shows that U.S. numbers declined by 21, resulting in the total count falling to 830. Canada increased over last week as well by 4 rigs, resulting in a total Canadian count of 147.
Source: Reuters
LONDON (Reuters) – Oil prices eased on Friday but were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible action from OPEC and its allies to extend output cuts outweighed …
Source: Houston Chronicle
Oil traded near $56 a barrel in New York as weak economic data from Germany added to concerns over slowing global fuel demand, tempering the boost from a surprise pullback in U.S. crude stockpiles.
Futures recouped earlier …
A Columbian energy company was approved by the U.S. federal government to form a joint venture with one of the Permian Basin’s top oil and gas producers.…
Source: Reuters
HOUSTON (Reuters) – Oil rose nearly 2% on Wednesday after government data showed a surprise draw in U.S. crude stocks and as the prospect of deeper output cuts by OPEC and its allies offered support.
U.S. crude stocks …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.7 million barrels from the previous week. At 433.2 million barrels, U.S. crude oil inventories are at …
Source: Houston Chronicle
The Trump administration has given five energy companies with headquarters or major operations in Houston permission to stay in Venezuela another three months despite harsh economic sanctions designed to unseat strongman Nicolas Maduro.
In a Monday afternoon …
Source: EIA
As U.S. crude oil export volumes have increased to an average of 2.8 million barrels per day (b/d) in the first seven months of 2019, the number of destinations (which includes countries, territories, autonomous regions, and other …
Source: Reuters
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon, prompting renewed concern that a slowing global economy would …
Source: Reuters
HOUSTON (Reuters) – Carlyle Group has exited its equity position in Lone Star Ports LLC, which proposed a $1 billion crude oil export terminal near Corpus Christi, Texas, a port official said on Friday.
Sean Strawbridge, chief executive …
This week’s Baker Hughes rig count shows that U.S. numbers declined by 5, resulting in the total count falling to 851. Canada decreased over last week as well by 3 rigs, resulting in a total Canadian count of 143.
