Crude Oil News

Source: Oil Price

This large U.S. Driller just made a big move into LNG

Oil Price


Devon Energy, (NYSE: DVN), announced a deal with Delfin Midstream (privately held) on Monday September, 5th, to buy into a Floating Liquefied Natural Gas-FLNG vessel, yet to be FID’d and constructed. The financial terms were not released, but …

Source: Reuters

Investors with $39 trillion urge governments to plan fossil fuel phase out

Nasdaq


BOSTON/LONDON – Investors managing $39 trillion have called on governments to raise their climate ambition, including setting plans to phase out fossil fuel use and forcing companies to set out science-based transition plans.

 

The move by some – …

Source: Reuters

OPEC sticks to oil demand growth view, sees pre-pandemic demand in 2023

Reuters


LONDON : OPEC cut its forecast for growth in world oil demand in 2022 for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and ongoing efforts to contain the coronavirus pandemic.…

Source: Reuters

Oil eases after bearish U.S. economic data

US News


LONDON – Oil prices eased on Tuesday, reversing earlier gains, as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.

Brent crude was down

Source: World Oil

Canadian Overseas Petroleum increases reserves, values after Cuda Energy acquisition

World Oil


Canadian Overseas Petroleum Limited, an international oil and gas exploration, production and development company with operations focused in Wyoming, United States, announced a material increase to its oil and gas reserves and net revenue resulting from the acquisition …

Exclusive: Tamarack Valley Energy at EnerCom Denver-The Energy Investment Conference®

Exclusive: Tamarack Valley Energy at EnerCom Denver-The Energy Investment Conference®

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Tamarack Valley Energy is an oil and gas company whose rate-of-return focused growth strategy targets the drilling and acquisition of repeatable and predictable long-life resource

Source: Reuters

U.S. natgas futures rebound in choppy trade despite bearish outlook

BOE Report


U.S. natural gas futures rose in choppy trading on Monday, buoyed by technicals and slightly lower production estimates for the week, although elevated overall output and lower consumption forecasts clouded the outlook.

Front-month gas futures NGc1 for October …

Source: Oil Price

Record U.S. LNG exports to Europe may not last

Oil Price


The United States and its natural gas have been vital for Europe’s attempt to fill its gas storage ahead of this winter season. Yet record U.S. LNG exports have led to a surge in domestic gas prices. The …

September 12, 2022 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, International, LNG
Oil prices rise as supply uncertainty mounts

Oil prices rise as supply uncertainty mounts

CNBC


Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand.

 

Brent crude futures rose $1.42, or 1.5%, to …

September 12, 2022 - 11:30 am Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

The G7’s price cap on Russian oil begins to take shape

Nasdaq


WASHINGTON – The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term …

Source: Reuters

Chesapeake reports ‘tremendous interest’ in its Eagle Ford assets

World Oil


(Bloomberg) — Chesapeake Energy Corp. said its assets in the Eagle Ford Shale have drawn a “tremendous amount of interest” as the U.S. company pursues a sale in order to become a pure-play natural gas producer.

The company …

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

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

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COMPANIES FROM THE E&P, MID-STREAM, AND OILFIELD SERVICE SECTORS COME TOGETHER TO DISCUSS OPPORTUNITIES AND CHALLENGES THEY ARE PRESENTLY FACING. MODERATED BY MOSS ADAMS.

Source: Reuters

The European Central Bank won’t provide financing for energy firms

Oil Price


The European Central Bank will not give short-term financing to European energy firms struggling through the energy crisis, sky-high prices, and margin calls on the derivatives markets, ECB President Christine Lagarde said on Friday.

 

 

“As far …

September 9, 2022 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Bloomberg

Oil rebounds from 8-month low after hitting oversold territory

World Oil


(Bloomberg) — Oil rebounded from an eight-month low as the market shrugged off a U.S. report showing swelling crude stockpiles and slumping demand.

 

West Texas Intermediate advanced 2% in a move traders characterized as a technical correction …

U.S. rig count had a decrease of 1 this week, at 759

U.S. rig count had a decrease of 1 this week, at 759

Oil and Gas 360


This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 759 rigs. Canada had a decrease of 3e over last week, resulting in …

Source: Oil Price

LNG could be “really, really tight” this winter: Cheniere

Oil Price


Limited global LNG supplies could be “really, really tight this winter, Cheniere Energy’s executive vice president for worldwide trading told Reuters on Thursday.

 

Cheniere, the largest LNG exporter in the United States, believes that current prices indicate …

September 9, 2022 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, International, LNG
Source: Reuters

Russia warns the West: energy price cap will be your undoing

Reuters


LONDON – Russia warned the West on Friday that plans to try to cap the price of Russia’s oil and gas exports in retaliation for the war in Ukraine would fail and ultimately lead to the instability of the …

Source: Reuters

EU to claw back energy firms’ profits rather than cap Russian gas price

Yahoo News


BRUSSELS – EU energy ministers on Friday tasked the European Commission to press ahead with a cap on the revenues of non-gas power producers benefiting from soaring energy prices, while backing away from capping Russian gas prices.

 …

Exclusive: SilverBow Resources at EnerCom Denver-The Energy Investment Conference®

Exclusive: SilverBow Resources at EnerCom Denver-The Energy Investment Conference®

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SilverBow Resources is an independent exploration and production company with assets in the Eagle Ford Shale located in South Texas. We leverage our 30 years

Source: Reuters

EOG Resources adds to glum U.S. oil outlook on cost, supply chain snags

Nasdaq


Shale oil producer EOG Resources EOG.N on Thursday said U.S. production gains next year will slow amid persistent supply chain constraints and inflationary pressures, echoing a rival’s sentiment.

 

EOG forecasts overall U.S. oil output to increase by between …

Source: Reuters

What recession? The U.S. oil industry won’t stop growing

Oil Price


In Europe, fears of a potentially deep recession continue to take hold. Meanwhile, these fears seem to have subsided in North America—at least in the oil industry. Instead, it’s back to growth mode for the shale patch and …

Source: Reuters

Oil prices firm but economic slowdown worries weigh

Investing


LONDON -Oil prices rose on Thursday after Russia threatened to halt oil and gas exports to some buyers, although weighing on the market were concerns that China’s extension of COVID-19 lockdown measures would slow global economic activity and hit …

Source: World Oil

UK lifts shale gas fracing ban in hopes of boosting fuel supply

World Oil


(Bloomberg) — New British Prime Minister Liz Truss removed a ban on drilling for shale gas, an effort to boost domestic energy supply that will have to overcome the same obstacles that stymied the industry for the past …

U.S. crude oil inventories increase by 8.8 million barrels

U.S. crude oil inventories increase by 8.8 million barrels

Weekly Crude Oil Storage as of September 2, 2022

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.8 million barrels from the previous week.  At 427.2 million barrels, U.S. crude oil …

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

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

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SM Energy is a premier operator of top tier assets. We strongly believe our values, commitment to excellence, flexibility and experience give us the edge

Source: Reuters

Oil falls to 7-month low on renewed demand fears, rate hike expectations

BOE Report


Oil prices fell on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes spurred worries of a global economic recession and lower fuel …

Source: Reuters

EU plans to cap Russian gas price as Putin warns west of winter freeze

US News


BRUSSELS/VLADIVOSTOK Russia -The European Union proposed a price cap on Russian gas on Wednesday after President Vladimir Putin threatened to cut off all energy supplies if it took such a step, raising the risk of rationing in some

Strive Asset Management sends open letter to Chevron to deliver a post-ESG mandate

Strive Asset Management sends open letter to Chevron to deliver a post-ESG mandate

Strive Asset Management


Strive Asset Management (Strive) sent a shareholder letter to Chevron, Inc. – marking the company’s first shareholder engagement letter on behalf of its clients. Strive calls on Chevron to liberate itself from constraints imposed by its ESG-promoting …

Source: Bloomberg

Oil boom falls flat in Latin America, despite having a fifth of the world’s reserves

World Oil


(Bloomberg) — From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out.…

SM Energy announces program to return capital to stockholders

SM Energy announces program to return capital to stockholders

Oil and Gas 360


DENVERSept. 7, 2022 /PRNewswire/ — SM Energy Company (the “Company”) (NYSE: SM) today announced that its Board of Directors has approved a return of capital strategy that includes:

 

SM Energy announces program to return capital to stockholders- oil and gas 360

  • Share repurchase authorization of up