Energy News

Source: Reuters

Energy Transfer reports Louisiana natgas pipeline ruptured in July

Nasdaq


Energy pipeline operator Energy Transfer LP ET.N has disclosed a pipeline rupture in Louisiana last month that released 8.2 million cubic feet of natural gas, according to a report filed with the U.S. National Response Center.

The July 22 …

Source: Reuters

U.S. shale producer EOG sticks to 4% annual output growth

US News


U.S. shale oil producer EOG Resources on Friday said it expects to deliver roughly 4% oil and gas volume growth this year, and hold a similar trajectory in 2023, as inflation and supply chain problems continue to snarl

Source: Reuters

Suncor Energy interim CEO sees mandate for change after safety problems

Nasdaq


The interim chief executive of Canada’s Suncor Energy SU.TO said on Friday that he has a mandate to make changes to improve the oil-producing company’s poor safety and operating performance, even as its board looks for a permanent CEO.…

Source: Reuters

Oil prices set to end week near multi-month lows on recession fears

US News


Oil prices rose on Friday, recouping some of this week’s losses on strong U.S. job growth data but remained on course to close the week near their lowest levels since February, rattled by worries a recession could hit

EnerCom Denver – The Energy Investment Conference August 7-10, 2022 is three days away!

EnerCom Denver – The Energy Investment Conference August 7-10, 2022 is three days away!

Publisher’s Note: EnerCom Denver is three days away; you can still register to attend. Lunch Keynote Presentations Feature BPX Energy, Vivek Ramaswamy with Strive Asset Management and Petrie Partners. Panels include discussions on Capital Allocation, Responsibly Sourced Gas, Private Capital,

Source: Reuters

Conoco sweetens shareholder returns by $5 billion as profit jumps

Finance Yahoo


ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street’s earnings estimates on surging energy prices.

 

Oil and gas prices have jumped with Western sanctions on Russia …

SM Energy reports second quarter 2022 results; leverage ratio target achieved

SM Energy reports second quarter 2022 results; leverage ratio target achieved

Oil and Gas 360


Publisher’s Note: SM Energy will be presenting on Monday, August 8, 2022 at the EnerCom Denver-The Energy Investment Conference next week from August 8-10, 2022. You can still register to attend. 

 

 

 

SM Energy reports second quarter 2022 results; leverage ratio target achieved- oil and gas 360

DENVER, …

DNV, ExxonMobil partner to tackle billion-dollar microbial corrosion issue

DNV, ExxonMobil partner to tackle billion-dollar microbial corrosion issue

World Oil


DNV, an independent energy expert and assurance provider, has joined ExxonMobil Upstream Research Company and Microbial Insights, Inc. in a Joint Industry Project (JIP) to develop the next generation of microbiologically influenced corrosion (MIC) detection, monitoring and mitigation …

Source: Reuters

Exclusive: Saudi, UAE save oil firepower in case of winter supply crisis

Yahoo Finance


LONDON/DUBAI – OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the …

Source: Bloomberg

WTI oil falls below $90 for first time since Ukraine invasion

World Oil


(Bloomberg) — U.S. crude futures fell below $90 a barrel for the first time since February, the month Russia invaded Ukraine.

 

Futures dropped as much as 1% to $89.80 a barrel. Prices have given up all of …

EnerCom Denver – The Energy Investment Conference August 7-10, 2022 puts spotlight on oil and gas companies from US, Canada, South America and Africa

EnerCom Denver – The Energy Investment Conference August 7-10, 2022 puts spotlight on oil and gas companies from US, Canada, South America and Africa

Publisher’s Note: EnerCom Denver is a week away; you can still register to attend. Lunch Keynote Presentations Feature BPX Energy, Vivek Ramaswamy with Strive Asset Management and Petrie Partners. Panels include discussions on Capital Allocation, Responsibly Sourced Gas, Private Capital,

PDC Energy, Inc. announces 2022 second quarter financial and operating results and announces receiving completeness determination on the Guanella Comprehensive Area Plan application

PDC Energy, Inc. announces 2022 second quarter financial and operating results and announces receiving completeness determination on the Guanella Comprehensive Area Plan application

Oil and Gas 360


Publisher’s Note: PDC Energy, Inc. will be presenting next week at EnerCom Denver-The Energy Investment Conference from August 8-10, 2022. You can still register to attend. 
August 3, 2022 at 4:25 PM EDT – DENVER, Aug.
Source: Reuters

Russia says Gazprom needs documents to enable return of gas turbine

Reuters


MUELHEIM AN DER RUHR, Germany (Reuters) -German Chancellor Olaf Scholz on Wednesday said Russia had no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that had been serviced in Canada but …

Source: Reuters

Oil rises amidst demand worries and ahead of OPEC+ meeting

BOE Report


Oil prices rose in early trade on Wednesday ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar.

 

West Texas Intermediate (WTI) crude futures rose $2.26, …

Source: Returns

Big Oil offers big returns but keeps spending tight

Yahoo Finance


LONDON – The West’s energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in energy prices.

 

But the top five …

Source: Reuters

OPEC+ approves tiny oil output rise in rebuff to Biden

CNBC


OPEC+ is set to raise oil output by a tiny 100,000 barrels per day in what analysts described as an insult to U.S. President Joe Biden after his trip to Saudi Arabia last month to persuade OPEC’s leader to …

Source: Northern Oil and Gas

NOG declares $0.25 quarterly cash dividend, 32% increase over prior quarter, and provides share repurchase update

Oil and Gas 360


Publishe’s Note: Northern Oil and Gas will be presenting on Monday, August 8, 2022 at 11:20 a.m. (MST) at  EnerCom Denver- The Energy Investment Conference next week on August 8-10, 2022. You can still register to

Source: Reuters

Chevron announces leadership changes

Oil and Gas 360


SAN RAMON, Calif. – Chevron Corporation (NYSE: CVX) today announced the appointment of Alana K. Knowles as vice president and controller, effective March 1, 2023. Knowles will succeed David A. Inchausti, who will resign …

Source: CNBC

Russia faces ‘economic oblivion’ despite claims of short-term resilience, economists say

CNBC


Russia is facing “economic oblivion” in the long term because of international sanctions and the flight of businesses, several economists have said.

 

The International Monetary Fund last week upgraded Russia’s gross domestic product estimate for 2022 by 2.5 …

Source: World Oil

Eni plans second LNG platform offshore Mozambique as Europe seeks gas

World Oil


(Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive.

The …

Source: Reuters

OPEC+ sees slightly smaller oil market surplus this year, sources say

Nasdaq


LONDON – OPEC+ sees this year’s oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month.

 

New …

Source: CNBC

Oil major BP boosts dividend as quarterly profits jump on high commodity prices

CNBC


Publisher’s Note: BPX Energy will be the lunch keynote on Monday, August 8, 2022 at EnerCom Denver- The Energy Investment Conference. Please register and schedule your one-on-one meetings with presenters at  EnerCom Denver.

LONDON — U.K. oil giant …

Source: World Oil

Democrats’ oil import tax would violate Biden pledge, group says

World Oil


(Bloomberg) — Democrats’ plan to reinstate a 27-year-old fee on oil imports represents a violation of a pledge by President Joe Biden not to raise taxes on anyone making less than $400,000 per year, according to the conservative …

Source: Bloomberg

Shale turning record profits after decade of steep losses

World Oil


(Bloomberg) — U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses.

 

The top 28 publicly traded U.S. independent oil producers generated $25.5 billion in free cash …

Source: World Oil

Manchin and Schumer’s ‘Inflation Reduction Act’ a mixed bag for energy industry

World Oil


Energy Workforce continues to digest the potential reconciliation deal — the “Inflation Reduction Act” — in the Senate. Initial thoughts are mixed; some provisions may be beneficial to our sector while others will be negative.

The below summary …

August 1, 2022 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: Reuters

Oil sinks after weak factory data sparks demand concerns

Yahoo Finance


NEW YORK – Oil prices dropped sharply on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply.

Brent crude …

Source: Reuters

Oil outshines stocks and dollar in 2022

US News


LONDON – Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight

Source: Reuters

Shale drilling climbs to levels not seen since early pandemic

World Oil


(Bloomberg) — Shale explorers are searching for oil at rates not seen since the early weeks of the pandemic as high crude prices incentivize drilling.

 

 

Oil rigs operating in US fields increased by 6 this week …

Source: Reuters

Big oil’s Q2 profits hit record $50 billion – with BP yet to come

Yahoo


The world’s largest energy companies, including TotalEnergies, Exxon Mobil and Chevron are ramping up buyback programmes despite criticism that they are not moving swiftly enough to increase oil and gas output as high fuel prices pinch consumers worldwide.

Exxon …

Source: Reuters

Exxon posts record-breaking second-quarter profit

Yahoo Finance


HOUSTON – Exxon Mobil Corp on Friday posted its biggest quarterly profit ever on the back of soaring energy prices and as it kept a tight rein on spending.

 

The top U.S. oil producer reported second-quarter net …