Post Tagged with: "360 News Desk"

Source: Reuters

U.S. investors rebuff big oil climate shareholder resolutions

US News


LONDON – Big U.S. investors at the top five western oil firms’ shareholder meetings this year rebuffed an activist group’s resolutions to align their emission targets with the Paris climate pact, in contrast to some European peers, voting

Source: Oil Price

How the U.S. is pumping more oil with fewer rigs

Oil Price


Despite the falling and flatlining rig count, U.S. crude oil production managed to hit a monthly record-high in August 2023, boosted by productivity gains and more efficient operations. U.S. exploration and production companies are drilling longer laterals and …

Source: Reuters

Oil up as Saudi Arabia and Russia stick to supply cuts

Yahoo Finance


(Bloomberg) — Oil gained after Saudi Arabia and Russia reaffirmed they will stick with oil supply curbs of more than 1 million barrels a day through the end of the year. West Texas Intermediate crude increased more than …

Source: Reuters

Energy Workforce & Technology Council: Interior’s abuse of Endangered Species Act will curtail U.S. energy production

World Oil


(WO) – The Energy Workforce and Technology Council issued a statement applauding the passage of H.R. 4821, the Department of the Interior, Environment, and Related Agencies Appropriations Act for Fiscal Year 2024. This bill passed in a bipartisan …

Bayswater deploys innovative nitrogen technology in DJ Basin to eliminate consistent source of methane emissions

Bayswater deploys innovative nitrogen technology in DJ Basin to eliminate consistent source of methane emissions

Oil and Gas 360


DENVERNov. 2, 2023 /PRNewswire/ — Bayswater Exploration & Production (Bayswater) is proud to be the first operator in the DenverJulesburg (DJ) Basin to deploy a new innovative technology from Kathairos Solutions that …

Source: Reuters

Energy giants’ LNG trading results reveal diverging regional bets

Nasdaq


LONDON – Energy giants offered a rare glimpse into their liquefied natural gas (LNG) trading strategies in recent days, with Shell’s and TotalEnergies’ bets on rising Asian demand paying off while BP’s bet on a European deficit turned sour.…

Source: Reuters

Chevron to promote Venezuelan oil chief to run Latin American operations following sanctions relief

World Oil


(Bloomberg) – Chevron Corp. will promote Javier La Rosa to run its operations in Latin America as it builds its presence in the region. La Rosa, who joined the oil giant in 2000, will be based in Buenos …

U.S. rig count had an increase of 2 this week, at 618

U.S. rig count had an increase of 2 this week, at 618

Oil and Gas 360


This week’s Baker Hughes Rig Count shows that U.S. had an increase of 2 over last week, resulting in a total count of 618 rigs. Canada had a decrease  of  3 over last week, resulting in …

Source: World Oil

Oil worker wages hit U.S record amidst slowing shale activity

World Oil


(Bloomberg) –Wages for U.S. oil workers climbed for a third straight month, setting a fresh record as paychecks prove resilient amid slowing shale activity. Average hourly earnings for front-line oil-and-gas workers rose 0.9% in September from the previous …

Source: CNBC

Oil heads for weekly loss as geopolitical risk premium wanes

CNBC


Oil rose on Friday, as the U.S. jobs market slowed more than expected last month, bolstering expectations of a pause in interest rate hikes in the world’s biggest consumer, but they remained on track for a weekly loss as …

Source: World Oil

API: EPA’s proposed NAAQS revisions “jeopardize” American jobs, risk “substantial” economic harm

World Oil


(WO) — The American Petroleum Institute (API) joined with over 70 other trade groups representing diverse businesses across the economy in urging the Biden administration to maintain the existing National Ambient Air Quality Standards (NAAQS) for fine particulate …

November 2, 2023 - 3:30 pm Closing Bell Story‎, Crude Oil News, Economy, Jobs, People, Regulatory
Cureton Midstream announces sale to Williams

Cureton Midstream announces sale to Williams

Oil and Gas 360


November 2, 2023 —Tailwater Capital LLC (“Tailwater”), an energy and growth infrastructure private equity firm, and a fund managed by the Private Equity Group of Ares Management (“Ares”), a leading global alternative investment manager, today announced …

Source: World Oil

U.S. oil groups urge Biden administration to support energy security by removing offshore production barriers

World Oil


(WO) – The American Petroleum Institute (API) called on the Biden administration to help meet growing energy demand by allowing for consistent and predictable access to America’s vast energy resources offshore.

In comments submitted to the Bureau of …

Source: Reuters

Exxon completes $4.9 billion Denbury acquisition

Oil Price


ExxonMobil said on Thursday it had completed the acquisition of carbon solutions provider Denbury in an all-stock transaction valued at $4.9 billion, which makes the U.S. supermajor the holder of the largest owned and operated CO2 pipeline network …

Source: Reuters

U.S. offshore wind sector ‘fundamentally broken’ – BP exec

Oil Price


The U.S. offshore wind industry is “fundamentally broken” and needs a reset, a clean energy executive at supermajor BP said at the FT Energy Transition summit on Wednesday.  But the regulatory and permitting environment for the industry can …

Source: Reuters

US Senator Schumer, other senators urge FTC to probe Exxon, Chevron mega-deals

Nasdaq


Rewrites throughout to add discussion of higher prices, adds quote and other signatories in paragraphs 3-4, Exxon comment in paragraphs 8-9.  U.S. Senate Majority Leader Charles Schumer and 22 other Democratic senators wrote to the U.S. Federal Trade Commission …

Source: Reuters

U.S. gasoline refining profits tumble as demand weakens

Oil Price


The U.S. gasoline crack spread – a leading refining profitability indicator – slumped in October to the lowest level in nearly three years amid seasonally weaker American gasoline demand and the switch to the cheaper winter-grade gasoline, the …

Zephyr Energy brings Williston basin wells online, boosting production

Zephyr Energy brings Williston basin wells online, boosting production

World Oil


(WO) – Zephyr Energy plc provided updates on its non-operated asset portfolio in the Williston basin, North Dakota, U.S. In December 2022, the company announced that it had acquired a working-interest in six recently spudded wells operated by …

Source: Reuters

Oil up 2% as war rages in Middle East and investors await Fed statement

Yahoo Finance


NEW YORK – Oil prices climbed about 2% on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected U.S. Federal Reserve announcement that could provide clues about future interest …

U.S. crude oil inventories increase by 0.8 million barrels

U.S. crude oil inventories increase by 0.8 million barrels

Weekly Crude Oil Storage as of October 27, 2023

 

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.8 million barrels from the previous week.  At 421.9 million barrels, U.S. crude …

Pine Cliff Energy Ltd. announces strategic acquisition, new term debt facility and monthly dividend

Pine Cliff Energy Ltd. announces strategic acquisition, new term debt facility and monthly dividend

Oil and Gas 360


Calgary, Alberta–(Newsfile Corp. – October 31, 2023) – Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) (“Pine Cliff” or the “Company“) is pleased to announce that it has entered into a definitive …

Source: Reuters

Marathon Petroleum tops profit estimates on strong fuel demand

Oil Price


Strong U.S. fuel demand helped Marathon Petroleum (NYSE: MPC) easily beat analyst estimates after reporting on Tuesday an adjusted net income of $3.2 billion for the third quarter of 2023. Adjusted earnings per share came in …

Source: Reuters

U.S. crude production breaks records

Oil Price


U.S. crude oil production hit an all-time high in August, according to new data published by the Energy Information Administration on Tuesday, with production surpassing pre-covid levels. U.S. field production of crude oil reached 404.6 million barrels during …

Source: Reuters

OPEC oil output rises for third month, Reuters survey finds

Nasdaq


LONDON – OPEC oil output has risen for a third straight month in October, a Reuters survey found on Tuesday, led by increases in Nigeria and Angola and despite ongoing cuts by Saudi Arabia and other members of the …

Source: Reuters

POLL-Growth risks to restrain oil in 2024, but Mideast risks loom large

Nasdaq


Slow global economic growth will keep crude prices anchored below $90 a barrel this year and next, unless the Israel-Hamas conflict draws in more countries in the Middle East and exacerbates supply tightness, a Reuters poll showed on Tuesday.…

Source: World Oil

bp interim CEO denies U.S. shale acquisition claims, defends focus on energy transition

World Oil


(Bloomberg) – bp Plc’s temporary boss gave a robust defense of the company’s strategy, batting away suggestions that he needs to follow the big oil deals done by U.S. competitors Exxon Mobil Corp. and Chevron Corp.

“We’re focused …

Source: Oil Price

Venezuelan court suspends opposition party’s presidential primary results

Oil Price


Venezuela’s Supreme Justice Tribunal has suspended the results of a primary that took place earlier this month in the opposition segment of the country’s political spectrum. Bloomberg’s Javier Blas commented on X that the move was not surprising …

Source: World Oil

Biden’s Alaskan oil plan is “major threat” to future drilling, ConocoPhillips executive warns

World Oil


(Bloomberg) – A century after the U.S. set aside a broad swath of northwest Alaska to be used as an emergency oil supply, the Biden administration is pursuing changes that could make it impossible to harvest crude from …

Source: Reuters

Chevron expected to revitalize Bakken shale with Hess acquisition

Oil Price


Oil production in the Bakken shale play is set to increase after Chevron’s acquisition of Hess, although volumes are unlikely to hit the records seen before 2020, analysts have told Reuters. Last week, Chevron said it would buy …

Source: Reuters

bp’s quarterly results bring “quiet” Canadian interim CEO into spotlight after Looney’s suprise resignation

World Oil


(Bloomberg) – Less than two months since Bernard Looney’s shock resignation, BP Plc is going into its first set of quarterly results without a permanent chief executive officer. In his place will stand Murray Auchincloss, the 53-year …