Exploration and Production (E&P)

Source: Reuters

Saudi Arabia may raise Sept crude prices for 2nd month

Reuters


SINGAPORE – Top oil exporter Saudi Arabia is expected to raise prices across various grades of crude oil it sells to Asia in September for a second straight month, tracking the strength in Middle East benchmarks, trade sources said.…

Source: Reuters

ExxonMobil earns $4.7 billion in second quarter 2021

Earnings increased $5.8 billion over the second quarter of 2020, driven by oil and na…

Source: World Oil

Equinor and TotalEnergies exit key Venezuelan JV project

World Oil


French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered.

The companies transferred to state-owned

Source: Reuters

Oil edges higher on tighter U.S. supplies, Brent tops $75 a barrel

Nasdaq


SINGAPORE – Oil prices rose on Thursday as crude stockpiles in the United States, the world’s top oil consumer, fell to their lowest since January 2020, with Brent crude oil prices pushing back past $75 a barrel.

Brent crude …

Source: Reuters

Big Oil back to boom after pandemic bust, aiding climate push

Reuters


LONDON – Europe’s top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies.

 

After swiftly …

Source: Reuters

Mexico’s Pemex posts quarterly net profit; debt swells to $115 bln

Nasdaq


MEXICO CITY – Mexico’s state oil company Petroleos Mexicanos (Pemex) on Wednesday reported net profit of 14.4 billion pesos ($722.5 million) in the second quarter, reversing course after a loss in the same period last year thanks to higher …

Source: Reuters

Oil nears $75 as U.S. inventory drop counters virus concerns

Reuters


LONDON – Oil rose towards $75 a barrel on Wednesday ahead of an industry report expected to show U.S. crude inventories fell, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections.

Official …

Source: bizjournals.com

Pioneer Natural Resources warns of $832 mln derivatives loss

Nasdaq


Independent shale producer Pioneer Natural Resources PXD.N on Tuesday warned it would be hit by an $832 million second-quarter loss on oil and gas derivatives.

 

Many producers locked in sales when oil prices rose above $40 a barrel …

Range announces second quarter 2021 financial results

Range announces second quarter 2021 financial results

FORT WORTH, Texas, July 26, 2021 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: R…

Source: Reuters

What to expect as Big Oil reports second-quarter earnings

CNBC


LONDON — Oil and gas majors are likely to report bumper second-quarter earnings in the coming days, energy analysts have told CNBC, following a brutal 12 months by virtually every measure.

The expected upswing would build on a …

Source: Reuters

Oil slips but set to end week steady on tight supply

Reuters


LONDON – Oil slipped further below $74 a barrel on Friday but was on track to end the week little changed after a surprising recovery from Monday’s slide, underpinned by expectations that supply will remain tight as demand recovers.…

Source: CNBC

Just a speed bump? Oil has taken a dive, but Goldman is still bullish

CNBC


A panic-induced sell-off in the oil market triggered by virus concerns has thrown the commodity’s upward march into question — but energy experts at Goldman Sachs don’t appear to be rattled.

Fears over the surging delta coronavirus variant and

Source: Reuters

Oil prices extend losses on expected supply increase

Reuters


LONDON -Oil prices fell on Thursday, extending losses as investors braced for increased supplies after a compromise deal between leading OPEC producers and as U.S. fuel stocks rose, raising concerns over demand in the world’s largest consumer.

Brent crude …

Source: CNBC

OPEC reportedly reaches compromise on oil production after dispute with UAE

CNBC


DUBAI, United Arab Emirates — The Organization of Petroleum Exporting Countries on Wednesday arrived at a deal after a nearly two-week standoff over its future oil production levels, according to reports by the Wall Street Journal and Reuters.…

Source: Reuters

OPEC+ impasse means tight oil market now, volatility ahead, says IEA

Reuters


LONDON – The oil market will see tighter supply for now amid a dispute inside OPEC+ about how to ease production curbs but it still faces the risk of a dash for market share if disagreement persists, the International …

Source: Reuters

Analysis: Big Oil keeps brakes on spending even with crude rally windfall

Reuters


LONDON – Leading international energy companies are resisting the temptation to rush and spend an unexpected windfall from rallying oil and natural gas prices as they focus on longer-term energy transition challenges, executives and analysts said.

Benchmark crude oil …

Source: Reuters

Oil prices fall as economic worries offset tightening supplies

Reuters


LONDON  -Oil prices slipped on Monday as concerns about slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled.

Brent crude for September fell 89 cents, or 1.2%, …

Source: CNBC

Is this the end of OPEC? How Saudi Arabia and UAE infighting threatens the future of the oil alliance

CNBC


LONDON — Oil producer group OPEC has been plunged into crisis, with bitter infighting between Saudi Arabia and the United Arab Emirates raising questions about the future of the energy alliance.

OPEC and non-OPEC partners, a group of some …

Source: Bloomberg

Oil slips after reaching multi-year highs on OPEC+ dispute

Bloomberg


OPEC+ infighting has deprived the oil market of extra supply and sent crude surging to a six-year high in New York.

It’s too early to tell whether the breakdown of the cartel’s meeting on Monday could escalate into a

Source: Reuters

Oil surges as traders await OPEC+ decision on easing production cuts

Market Watch


Oil futures jumped Thursday, with the U.S. benchmark topping $75 a barrel for the first time since October 2018, as traders await a decision by the Organization of the Petroleum Exporting Countries and its allies on further easing …

Source: Reuters

How the next decision from OPEC+ could impact oil prices, according to KPMG energy expert

CNBC


Oil prices have made a huge comeback in just over a year.

U.S. oil prices turned negative in April 2020, a never-before-seen move. But, this month, West Texas Intermediate crude hit levels not seen in more than two …

Source: Reuters

Goldman says more OPEC+ supply needed to balance oil market

Reuters


Goldman Sachs Commodities Research said more oil production is needed from the Organization of the Petroleum Exporting Countries and allies (OPEC+) to balance the market by 2022 as supply risk looms elsewhere.

The U.S. bank forecast oil demand to …

Source: Reuters

Norway’s energy firms plan $1.7 bln oil, gas developments

Gulf Today


Equinor and Aker BP set out plans to develop four oil and gas discoveries with a total price tag of 14.5 billion Norwegian crowns ($1.69 billion) as part of Norway’s efforts to maximise output from its existing fields.…

Source: Reuters

Oil rises on lower U.S. stockpiles, demand recovery

Reuters


NEW YORK – Oil prices rose on Wednesday, heading for monthly and quarterly gains, after data showed U.S. crude stockpiles were shrinking and an OPEC report foresaw an undersupplied market this year.

The Brent crude contract for August, due …

Source: Reuters

Column: Rising oil price will draw response from consumers

Todayonline


LONDON – Oil prices have risen above the long-term average, once adjusted for inflation, and are likely to encounter increasing resistance from consumers if they continue to climb.

Front-month Brent futures are trading around $75 per barrel compared with …

Source: Reuters

OPEC bullish on oil market recovery but virus variants pose risk

Reuters


LONDON – OPEC sees a strong rebound in oil demand in the second half of 2021 with oil inventories shrinking but the producer group also sees coronavirus variants posing a risk to the recovery.

Demand in 2021 was expected …

Source: Reuters

Russia struggles to raise oil output despite price rally – sources

Reuters


MOSCOW – Russian oil production has declined so far in June from average levels in May despite a price rally in oil market and OPEC+ output cuts easing, two sources familiar with the data told Reuters on Monday.

Russia’s …

Source: Reuters

U.S. shale industry tempers output even as oil price jumps

Reuters


Even with oil prices surging toward $75 a barrel, U.S. shale producers are keeping their pledges to hold the line on spending and keep output flat, a departure from previous boom cycles.

This year’s run up in crude prices, …

Source: Reuters

Ahead of talks, OPEC forecasts point to oil supply deficit in August

Reuters


LONDON – OPEC’s forecasts point to an oil supply deficit in August and in the rest of 2021 as economies recover from the pandemic, suggesting the group and its allies have room to raise output at a meeting this …

Source: Reuters

Column: Oil prices soar even as consumption remains below trend

Reuters


LONDON – Global oil consumption is set to return to pre-pandemic levels by the first quarter of 2022, driven by a strong expansion in global manufacturing and freight transport as well as the gradual re-opening of major economies.

Booming …