Exploration and Production (E&P)
Oil heads for weekly gain on US growth and Middle East concerns
LONDON -Oil eased on Friday but was heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand sentiment, while Middle East supply concerns added further support.
The United States, the
Tullow Oil on track to deliver $600 million free cash flow over next 2 years
West Africa-focused Tullow Oil TLW.L said on Wednesday it was on track to deliver about $600 million free cash flow over the next two years to achieve its stated target of $800 million from 2023 to 2025, sending its …
Traders turn bearish on U.S. oil
Traders are selling West Texas Intermediate futures in anticipation of further strong production growth. As a result, prices are weakening further despite the uncertainty of such an outlook.
In fact, expectations from the industry and the EIA are …
Rystad Energy expects strong demand to drive oil prices higher
Global oil demand remains pretty solid and could surprise to the upside this year, tightening market balances and potentially leading to higher prices, Claudio Galimberti, head of global oil macro research at Rystad Energy, told Bloomberg in an …
Oil prices little changed as fundamentals weigh on geopolitical risk premium
Oil prices were little changed in Asian trading on Wednesday as weak demand and a recovery in supply limited the market’s reaction to mounting geopolitical risk.
The front-month March contract for Brent crude inched up 5 cents to …
Russia’s fossil fuel revenues continue to fall
Russia’s fossil fuel export revenues continued to fall in December from November, as income from oil and gas exports has been dropping since September, a new analysis by the Centre for Research on Energy and Clean Air (CREA) …
Oil prices edge up with signals mixed on crude supply outlook
NEW YORK – Oil prices inched up Tuesday, as traders weighed production outages in the U.S. and tensions in the Middle East and Europe against rising crude supply in Libya and Norway.
Brent crude futures were up 30
Interest jumps in US auction of shares in parent of Venezuela-owned Citgo
Dozens of companies have rushed in recent weeks to obtain data and join a U.S. court-ordered auction of shares in a parent of Houston-based oil refiner Citgo Petroleum, Venezuela’s foreign crown jewel, according to people familiar with the matter, …
Oil rises as geopolitics counter demand concerns
LONDON-Oil prices rose on Monday as traders weighed the impact of wars in the Middle East and Ukraine on oil supply against economic headwinds dampening global oil demand.
Brent crude rose 90 cents to $79.46 a barrel by 1450 …
Europe, Africa crude market tightens on Red Sea disruptions, China demand
The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts.
The …
Oil prices rise on strong IEA and OPEC demand estimates
Oil prices rose on Thursday as the IEA joined producer group OPEC in forecasting relatively strong growth in global oil demand this year, with price impetus also coming from disruption to U.S. output and geopolitical risks in the Middle …
ExxonMobil, Mexico Pacific to bring Permian gas to global markets with third LNG deal
(WO) – Mexico Pacific has signed a third long-term Sales and Purchase Agreement (“SPA”) with ExxonMobil LNG Asia Pacific (“EMLAP”) for an additional 1.2 MMtpa of liquefied natural gas (“LNG”) from Train 3 of Mexico Pacific’s Saguaro Energia …
Saudi oil price cut driven by weak market, not policy shift
LONDON – Saudi Arabia’s cut in official crude oil selling prices to Asia reflects weaker fundamentals of supply and demand, and does not imply a looming shift in OPEC+ policy or a fight for market share, analysts and industry …
Freezing temperatures in U.S. shut in over half of North Dakota’s oil production
(Bloomberg) – Freezing temperatures sweeping the U.S. shut in more than half of North Dakota’s oil production and curbed refinery operations in Texas.
The outage in the second-largest U.S. shale basin briefly lifted West Texas Intermediate futures. Physical …
Oil falls as China’s economic recovery disappoints, dollar strengthens
Oil fell more than $1 on Wednesday as economic growth in China, the world’s second-largest crude user, slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite.
Brent crude futures fell $1.23, or …
Market to be short oil from 2025 onwards, Occidental CEO at Davos
DAVOS, Switzerland – The oil market could be heading for a supply crunch from 2025 onwards as oil exploration fails to keep pace with demand, Occidental Petroleum Chief Executive Vicki Hollub said on Tuesday.
Hollub, who spoke on the …
Oil lobby warns Biden about anti-oil policies
“American voters are watching.” This is what the president of the American Petroleum Institute had to tell the federal government at an API event this week. Voters are watching, and they are less than thrilled with the current …
Oil slips about 1% despite Middle East conflict
Oil prices slipped on Monday with traders watching out for supply disruption risk in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea.
How fracking helped the U.S. become the world’s top LNG exporter
In 2003, the late author and investment banker Matther Simmons predicted that with “certainty,” by 2005 the U.S. would enter a long-term natural gas crisis for which the only solution was “to pray.” T. Boone Pickens and a …