Energy News

Source: Reuters

Column: Recovering oil demand could drive market into deficit by July – Kemp

Reuters


LONDON  – U.S. petroleum consumption has started to rise as the economy emerges from lockdowns imposed to control the spread of the new coronavirus, giving the oil industry hope it has come through the lowest point in the cycle.…

Source: CNBC

Oil market is re-balancing, but path to ‘next normal’ not a straight line, says energy CEO

CNBC


Oil markets are re-balancing after a collapse in demand following the coronavirus outbreak but the pathway to “the next normal” is still very uncertain, the CEO of Abu Dhabi’s National Oil Company (ADNOC) said Thursday.

“There are good signs

Source: Reuters

Oil back at early April highs as demand shows signs of picking up

Reuters


LONDON  – Oil prices touched a one and a half month high on Friday amid signs demand for crude was picking up, with China reporting increased refinery runs and rounding out a week of bullish news on the supply …

IEA Executive Director Fatih Birol on What is Starting to Bring Oil Markets Back to Balance; Early Signs of Recovery in Global Energy Demand; and Why Predictions for the Demise of U.S. Shale are “Premature”

IEA Executive Director Fatih Birol on What is Starting to Bring Oil Markets Back to Balance; Early Signs of Recovery in Global Energy Demand; and Why Predictions for the Demise of U.S. Shale are “Premature”

In a conversation with Daniel Yergin, vice chairman, IHS Markit (NYSE: INFO), Birol talks about why the previous month could become known to history as the oil industry’s “Black April,” the importance of including energy investments as part of COVID-19 …

May 15, 2020 - 8:00 am Crude Oil News, Economy, Energy News, People, Press Releases
Source: Reuters

U.S. commodities regulator warns of more volatility, possible negative prices

Reuters


The top U.S. commodities markets regulator warned exchanges and brokerages on Thursday that they should be prepared for volatility and possible negative pricing for certain contracts, nearly one month after U.S. oil futures plunged into negative territory for the …

360 Digital Closing Bell 5-14-2020

360 Digital Closing Bell 5-14-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 5 min summary of the energy markets. There is a down day in the market, but we have a draw down on crude

Source: Reuters

Hit by coronavirus and Trump, Iran’s oil exports dwindle to record low

Reuters


LONDON  – Iran’s oil exports have sunk to a record low as the coronavirus crisis compounds the impact of U.S. sanctions already limiting shipments, underlining the diminishing oil clout of what was OPEC’s second-largest producer.

Exports averaged 70,000 barrels …

Source: Reuters

Sharp oil price pullback unlikely as demand improves: Goldman

Reuters


The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output.

The Wall-Street …

Source: CNBC

A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns

CNBC


The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power” on the supply side of the oil market in recent weeks, but concerns remain over the potential for a second wave of Covid-19 infections.

Shell invests in new Nigeria LNG processing unit

Shell invests in new Nigeria LNG processing unit

BIC


Oil & Gas Publishers Note: On a side note, there appears to be a trend to energy investors; invest in companies with ESG plans, diversify into natural gas, and move investing to outside the U.S.

Shell Gas B.V., a …

360 Digital Closing Bell 5-13-2020

360 Digital Closing Bell 5-13-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 5 min summary of the energy markets. There is a down day in the market, but we have a draw down on crude

Comstock Resources Announces Common Stock Offering

Comstock Resources Announces Common Stock Offering

Oil and Gas 360


Frisco, TX, May 13, 2020 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (NYSE: CRK) (“Comstock” or the “Company”) announced today that it has commenced an underwritten public offering of 40 million shares of its common stock (the

EIA raises crude oil price outlook slightly as announced supply cuts lead to high inventory draws in 2021

EIA raises crude oil price outlook slightly as announced supply cuts lead to high inventory draws in 2021

EIA


In its May Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects Brent crude oil prices will average $34 per barrel (b) in 2020 and $48/b in 2021. Although market outlooks are subject to many risks, the …

Source: Reuters

Saudi Arabia, Russia committed to oil market stability: statement

Reuters


DUBAI – Saudi Arabia and Russia are firmly committed to achieving oil market stability and expediting a rebalancing of the market, the energy ministers of the two countries said in a joint statement on Wednesday.

Saudi energy minister Prince …

Source: CNBC

An archipelago in the Atlantic wants to add tidal power to its energy mix by using kite-like tech

CNBC


Situated in the wilds of the northeast Atlantic between Iceland and Scotland, the Faroe Islands are peaceful, remote and beautiful.

The archipelago is also the site of a trial that, using tidal “kite” technology, could radically alter its energy …

May 13, 2020 - 12:30 pm Closing Bell Story‎, Energy News, Sustainability
Source: Reuters

OMV sees hope for oil price recovery in second half

Reuters


VIENNA  – Austrian energy group OMV sees hope for a recovery in oil prices in the second half of 2020 helped by increased fuel demand and output cuts by producers such as Saudi Arabia, its chief executive said.

The …

SM Energy Company announces early results and extension of early tender time of the exchange offers and consent solicitations

SM Energy Company announces early results and extension of early tender time of the exchange offers and consent solicitations

Oil and Gas 360


DENVER, May 13, 2020 /PRNewswire/ — SM Energy Company (“SM Energy” or the “Company”) (NYSE: SM) today announced that it has extended the date by which early tenders must be received for its previously announced …

Source: Reuters

Oil holds near $30, caught between demand loss and supply cuts

Reuters


LONDON – Oil prices edged higher on Wednesday, reversing earlier losses, and Brent held near $30 a barrel as potential OPEC+ plans to deepen supply cuts were tempered by demand concerns exacerbated by a possible second wave of coronavirus …

Tamarack Valley Energy Ltd. Announces 2020 First Quarter Results and Ongoing Value Preservation and Cost Cutting Focus

Tamarack Valley Energy Ltd. Announces 2020 First Quarter Results and Ongoing Value Preservation and Cost Cutting Focus

Calgary, Alberta–(Newsfile Corp. – May 12, 2020) – Tamarack Valley Energy Ltd. (TSX: TVE) (“Tamarack” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020.

EarthRenew Announces Upgrades to the Power Production Capabilities of its On-Site 4.0 MW Turbine

EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce that it has upgraded components of its on-site power generation unit and is now capable of producing power 24/7, in time for peak summer demand. The upgrades to the …

Haynes and Boone Replay: Weekly Energy Tracker Call  05-12-2020

Haynes and Boone Replay: Weekly Energy Tracker Call 05-12-2020

Oil and Gas 360


Weekly Energy Tracker Call (05/12/20)

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 …

360 Energy Expert Network Preview: Sproule

360 Energy Expert Network Preview: Sproule

Oil and Gas 360


Publisher’s Note: Please join us Wednesday, May 13, 2020 on The 360 Energy Expert Network  for our exclusive Sproule Interview.

360 Energy Expert Network Preview: Locus Bio-Energy Solutions- oil and gas 360

 

Oil and gas 360 for video

 

 

About Sproule:

From hydrocarbon visionaries to reservoir virtuosos, Sproule has a 65-year

Source: Forbes

Key Indicators On The Oil Price Path ‘After’ Covid-19

Forbes


Undoubtedly, the dominant factor in the oil market for the next twelve to twenty-four months will be the progress of the pandemic, which will reduce economic activity and thus oil demand to an uncertain degree and with unpredictable timing. …

EIA: Short-Term Energy Outlook

EIA: Short-Term Energy Outlook

EIA


Forecast Highlights

 

Global liquid fuels

  • Although all market outlooks are subject to many risks, the May edition of EIA’s Short-Term Energy Outlook remains subject to heightened levels of uncertainty because the effects on energy markets of mitigation efforts
Focused on Difficult Decisions in Challenging Markets, OpenInsights Helps Cut Costs, Not People

Focused on Difficult Decisions in Challenging Markets, OpenInsights Helps Cut Costs, Not People

360 Feed Wire


Next chapter in shale’s evolution will focus on software, virtualization, business automation, and machine learning.

Oil & Gas 360 Publishers Note: We will be interviewing Enverus this Friday for a release to our 360 Energy Expert Network

Source: Reuters

Petrobras again delays Garoupa oilfield offer as faces new setbacks: sources

Reuters


RIO DE JANEIRO – Petrobras has delayed the submission of binding offers for an oilfield cluster known as Polo Garoupa for a fourth time, two sources with knowledge of the matter told Reuters, as investor appetite in Brazil’s offshore …

Source: Reuters

Column: Oil traders see market starting road to recovery: Kemp

Reuters


LONDON – Crude oil traders expect the market to be closer to balance in the next few months as production cuts are implemented and the global transport system emerges from a coronavirus lockdown.

Futures prices and swaps linked to …

Source: CNBC

Saudi Arabia’s latest oil production cuts show it is back in ‘whatever it takes’ mode, strategist says

CNBC


Voluntary production cuts by OPEC members show that oil producing countries are doing what they can to stabilize the market during the ongoing coronavirus outbreak, one strategist told CNBC this week.

Saudi Arabia on Monday said it will reduce

Saudi Aramco’s profit plunges 25% on coronavirus pandemic

Saudi Aramco’s profit plunges 25% on coronavirus pandemic

Oil & Gas


The company’s income dipped to $16.6 billion for Q1 2020

Saudi Aramco saw a 25% plunge in profit in the first quarter of 2020 to $16.6 billion (62.48 billion Saudi riyals), but was able to retain its …

May 12, 2020 - 7:30 am Crude Oil News, Earnings, Energy News, Finance, International, OPEC
Source: Keystone-XL

Judge mostly upholds ruling against pipeline permit

A federal judge on Monday ruled largely in favor of upholding an earlier court’s decision to prevent the U.S. Army Corps of Engineers from using a fast-track approval permit to construct the Keystone XL tar sands pipeline without conducting new …