Reuters
LONDON/LAGOS – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer.
The consequences could be grave …
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Oil up at 33.56 and market up.
LONDON – A month after U.S. crude oil prices collapsed into negative territory, European gas markets are facing the prospect of also slipping into the red after a slump in demand and surging inventories pushed prices into low single …
MEXICO CITY/NEW YORK – Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.…
DeWITT COUNTY, Texas – Royalties from oil pumped on Paul Ruckman’s land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s …
LONDON – Oil fell over 4% on Friday to below $35 a barrel on rising U.S.-China tensions and doubts about the pace of demand recovery from the coronavirus crisis, although it remained on course for a weekly gain.
China …
This weekend’s Memorial Day holiday could be a test for the gasoline market, depending on whether drivers in reopening states hit the road and then keep on driving.
Gasoline demand is about 30% below where it was before states
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 6 min summary of the energy markets.
Oil up at 33.99 and market down.
HOUSTON, May 21, 2020 (GLOBE NEWSWIRE) — Superior Energy Services, Inc. (NYSE: SPN) (the “Company”) today announced a net loss from continuing operations for the first quarter of 2020 of $32.3 million, or $2.18 per share, …
Excess inventories are clearing from the crude side first in response to output cuts, while a reduction in refined fuel stocks will take longer as consumption is slower to return.
Total inventories of crude and products, excluding the strategic …
The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.
The move shows drillers …
Oil prices rose on Thursday to their highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people’s movements imposed due to the coronavirus crisis.
Crude prices have slumped …
The Great Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 7 min summary of the energy markets. This is an up day in the market.
Rystad Energy posting that there
Oilfield services provider Halliburton Co slashed its quarterly dividend by 75% on Wednesday, the latest move by the company to shore up cash to cope with a dramatic plunge in oil prices that began in March.
U.S. oil prices …
Continental Resources, one of the largest U.S. shale oil producers, on Wednesday urged North Dakota energy regulators to intervene to help stabilize the state’s oil market through steps such as limiting output or restricting flaring of unwanted natural gas.…
Reuters
The Trump administration abruptly postponed an auction of oil and gas leases in New Mexico that had been scheduled to begin on Wednesday morning, according to a government website about the sale.
No further information about the delay was …
Google has pledged to stop building customized artificial intelligence (AI) tools that help oil and gas firms to extract fossil fuels worldwide.
The pledge came after a Greenpeace report on Tuesday highlighted how Google, Microsoft, and Amazon use …
LONDON – Oil prices firmed on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but worries over the economic fallout from the coronavirus pandemic and weak refining margins capped gains.
Brent crude futures LCoc1 …
Weekly Energy Tracker Call (05/19/20)
Haynes and Boone, AEGIS and EnerCom welcome you to a weekly series of webex meetings to discuss business and legal issues erupting in the oil and gas world, including bankruptcy …
The Great Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 7 min summary of the energy markets. This is an up day in the market.
OPEC+ and Saudi Arabia have
Publisher’s Note: Please join us Wednesday, May 20, 2020 on The 360 Energy Expert Network for our exclusive WolfePak Software Interview.
Siemens Gamesa Renewable Energy (SGRE) has released details of a 14-megawatt (MW) offshore wind turbine, in the latest example of how technology in the sector is increasing in scale.
With 108-meter-long blades and a rotor diameter of 222 meters, …
LONDON – Saudi Arabia and its allies in the expanded OPEC+ group of oil-exporting nations have successfully engineered a prospective deficit in the oil market, boosting spot prices and calendar spreads over the last four weeks.
Front-month Brent futures …
Oil prices moves lower on Tuesday, despite signs that producers are cutting output as promised and on signs of increasing demand as more countries ease out of curbs imposed to counter the coronavirus pandemic.
The front-month contract for …
MOSCOW/LAGOS/LONDON – The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say.
Lockdowns to …
LONDON – Oil prices were steady on Tuesday amid signs that producers are cutting output as promised while traders awaited more clarity on the demand picture as some countries ease out of lockdowns.
Benchmark Brent crude was up 4 …
Exide Technologies (“Exide” or the “Company”), a global provider of stored energy solutions, today announced a comprehensive strategy to best position its businesses in North America, EMEA, and Asia-Pacific to benefit its employees, customers, suppliers, and other stakeholders across …
