According to the financial reports analyzed by the U.S. Energy Information Administration (EIA), global expenditures related to oil and natural gas exploration and development (E&D) increased $42 billion (13%) for 102 publicly traded oil companies in 2019, totaling $361 …
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
EIA
Oil & Gas 360 Publishers Note: Very interesting data provided by the EIA. If the U.S. energy production exceeded consumption in 2019 with no Covid 19 Virus, what in the world is going to happen this year?
In 2019, …
On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of …
An unprecedented collapse in U.S. oil prices has prompted energy market participants to reflect on the difficulty and costs of storing crude.
At a time when the coronavirus crisis continues to crush global demand, the world is awash with
LONDON – Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand …
360 News Wire
New, dismal supply and demand outlook could contain overlooked bright spots
Oil & Gas 360 Publishers Note: We had the opportunity to interview Bernadette Johnson, VP, Enverus, last month about trends they were seeing. Check out the …
China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average. China remains the world’s top crude oil importer, surpassing the United …
MIDLAND, Texas, March 09, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today provided an operational update given recent commodity price volatility. Diamondback is reducing activity immediately from nine completion crews …
EIA
Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels. The 2019 growth rate was down from a 17% growth rate in …
In the Annual Energy Outlook 2020 Reference case, EIA projects that the United States will remain a net exporter of total petroleum liquids; however, the United States will remain a net importer of crude oil through 2050.
United …
ESal Engineered Salinity corporate presentation was at 4:35 P.M The presentation live streamed, and the recorded presentation is below.
Salem Thyne talked about how the oil recovery process can save money while positively impact the environment. This is important to
In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the …
Following nearly 10 years of relative price stability, shipping rates for crude oil tankers have fluctuated widely since mid-2018 because of a combination of geopolitical events and changes to maritime fuel specifications. The U.S. Energy Information Administration (EIA) estimates …
U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average first full month of oil production from new wells …
Adds comments from Opec source and updates China imports total
Dubai, 27 January (Argus) — Concern about the potential impact of the Chinese coronavirus outbreak on oil demand is putting mounting pressure on crude prices, outweighing Libyan supply disruptions …
NEW YORK – Oil prices were flat on Thursday, supported by signs of improving Washington-Beijing trade relations and rising tensions in the Middle East but pressured by a strong U.S. dollar.
Brent crude futures LCOc1 were unchanged at $66.00 …
NEW YORK – Oil prices rose on Friday and were on track for weekly gains as a meeting of OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.
The additional cuts …
Source: Houston Chronicle
Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied.
Futures lost as much as 0.8% in New York after rising 5.6% over …
Source: Reuters
LONDON (Reuters) – Darkening clouds over the global economy have led two of the world’s top oil firms to warn investors that promised growth in returns could be at risk for the first time since the 2014 oil …
Source: Reuters
SEOUL (Reuters) – South Korea’s crude oil imports from the United States more than doubled in September, while its imports of Iranian oil remained zero for a fifth month in a row due to U.S. sanctions, customs data …
From World Oil
Repsol Sinopec Brazil, Ouro Negro and the Mechanical Engineering Department of PUC-Rio’s Technical and Scientific Center (CTC/PUC-Rio) are expanding their technological partnership, developing a through tubing logging profiling tool to assess cement quality in lined wells.
“The …
With a massive shift in the marine fuel market just months away from implementation, a Galveston fuel storage operator says it plans to operate a 50,000 barrel a day crude processing facility to meet new stricter …
From Reuters
Canadian Natural Resources Ltd, the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network.
Canadian Natural’s letter …
From Reuters
Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.
Brent crude LCOc1 settled …
Tamarack Valley Energy, Ltd. (TSX – TVE), is an oil and gas company whose return-focused growth strategy targets the drilling and acquisition of repeatable and predictable long-life resource plays in the Western Canadian Sedimentary Basin. The Company announced that it …
