From Bloomberg America’s journey to preeminence in the global oil trade is about to hit another milestone. Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By mid-year America will go one better. At the moment, Saudi Arabia could raise production all the
Seems like just yesterday it was Q3 reporting season. But time between quarterly earnings reports accelerates within the public company universe. Stay up to date with earnings calls here. EnerCom, Inc. has compiled first quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 104 E&P and 77 Oilfield Service companies in the EnerCom database. Download
From The Wall Street Journal China’s state-run energy giant is making a new approach to strike a $3 billion Iranian oil field, seeking to take advantage of waivers allowed under U.S. sanctions even as two European nations have ended crude purchases, according to people familiar with the matter. The moves highlight the divergent ways nations are reacting to temporary exemptionsfrom U.S. sanctions
From Bloomberg The Trans Mountain crude pipeline that Prime Minister Justin Trudeau’s government bought from Kinder Morgan Inc. last year is getting interest from some indigenous groups hurt by Canada’s oil price crunch. Five or six First Nation communities have approached the federal government with a view to potentially acquiring the line, Stephen Buffalo, chief executive officer of Canada’s Indian Resource Council,
From Bloomberg A wide margin of Canadians support an oil pipeline that Prime Minister Justin Trudeau’s government is pushing to build — though it remains unpopular among some voting blocs key to his reelection, a poll has found. In a poll published Wednesday by the Angus Reid Institute, 53 percent of Canadians said they support both the Trans Mountain pipeline, bought last year by
From The Wall Street Journal The U.S. is evaluating whether to impose tougher sanctions against Venezuela’s military and vital oil industry, a senior Trump administration official said Monday, as it seeks to ratchet up pressure on authoritarian leader Nicolás Maduro to hold free and fair elections. The Trump administration is considering a range of measures including curtailing the flow of
2018 oil growth of 1.58 MMBOPD is all-time high The shale revolution will propel U.S. energy to unprecedented heights in the next two years, according to the EIA’s most recent Short-Term Energy Outlook (STEO). This month’s STEO is the first to include forecasts for 2020, giving the EIA’s view on U.S. oil and gas prospects over the next two years.
From Reuters The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments. After Alberta cut 325,000 barrels per day (bpd) starting this month, the discount on Canadian heavy oil compared to benchmark U.S. crude oil shrank to less
From Reuters Mexican President Andres Manuel Lopez Obrador said on Tuesday that widespread fuel theft extended to oil drilling platforms and he pledged to take actions to alleviate shortages sparked by his crackdown on gasoline thieves. Lopez Obrador said there had been “acts of sabotage at crude oil drilling platforms,” without providing further details. “We have identified the problem and
The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 2,683 MBBL last week to 437,055 MBBL from 439,738 MBBL. This is 6% above the 412,654 MBBL that was in storage at this point last year, and is 8% above the five-year
Pin Oak Acquires Expansion Land In Corpus Christi
Drilling activity was flat this week as rigs shuffled around the country, according to the latest edition of Baker Hughes’ rig count. The total number of rigs operating in the country was unchanged this week, meaning there are 1,075 rigs active in the U.S. Two land-based rigs came online in the week, while inland waters and offshore saw rig counts
