Post Tagged with: "International"

OPEC shift to maintain market share will cause global inventory increases and lower prices

OPEC shift to maintain market share will cause global inventory increases and lower prices

EIA


Markets for oil, as well as other commodities and equities, have experienced significant volatility and price declines since the final week in February amid concerns over the economic effects of the 2019 novel coronavirus disease (COVID-19). More …

EIA revises global liquid fuels demand growth down because of the coronavirus

EIA revises global liquid fuels demand growth down because of the coronavirus

EIA


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 …

EIA expects U.S. net natural gas exports to almost double by 2021

EIA expects U.S. net natural gas exports to almost double by 2021

EIA


EIA forecasts these deliveries to account for an increasingly larger share through 2021 as new LNG facilities are placed in service and new pipelines in Mexico that connect to U.S. export pipelines begin operations.

 

EIA expects U.S. net natural gas exports to almost double by 2021 - oilandgas360

In its Short-Term Energy

EIA projects less than a quarter of the world’s electricity generated from coal by 2050

EIA projects less than a quarter of the world’s electricity generated from coal by 2050

EIA


By 2050, coal-fired generation comprises only 5% of the region’s generation mix.

EIA World net electricity by fuel, IEO 2019 Reference case - oilandgas360

According to the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2019 (IEO2019), global electric power generation from renewable sources will increase more than 20% throughout the …

International Rig Count: Inclusion of Ukrainian Rigs Juices the Total

International Rig Count: Inclusion of Ukrainian Rigs Juices the Total

Baker Hughes (stock ticker: BHGE) released its monthly international rig count today, revealing an increase of 64 compared to April, bringing the total number of rigs to 1,126. The number of offshore rigs, however, fell 11 compared to last month, …

Pacific Bora drilling rig arrives at Oyo-9 field in
deepwater offshore Nigeria

International Drilling Continues Near Post-Downturn Highs

Overall rig count falls by two

By Richard Rostad, analyst, Oil & Gas 360

International drilling activity declined slightly in January, but remains near post-downturn highs, according to Baker Hughes.

A net two rigs came offline in January, bringing the …

Raymond James: International Rig Count to Reach 1,100 by 2020

Raymond James: International Rig Count to Reach 1,100 by 2020

From the Midland Reporter Telegram

A new report says the international rig count could rebound and break 1,100 by 2020, according to Raymond James. Analysts from Raymond James said increased spending by international oil and gas companies and a rebound …

U.S. Oil Exports: ICE to Launch Houston Oil Contract

U.S. Oil Exports: ICE to Launch Houston Oil Contract

From Reuters

Intercontinental Exchange on Tuesday said it would launch a crude oil futures contract deliverable in Houston later this quarter, capitalizing on the growth in U.S. exports of crude oil that have risen to about 2 million barrels a …

World’s Oil Supply “Might be Stretched to the Limit” Due to Production Losses: IEA

World’s Oil Supply “Might be Stretched to the Limit” Due to Production Losses: IEA

From Reuters

Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world’s oil supply cushion “might be stretched to the limit” due to production losses.

Benchmark Brent crude oil LCOc1 …

Source: Servcorp

Global Trade War Weighs on Businesses

From Reuters

A developing trade war between the world’s biggest economies is weighing on business confidence and could force central banks to downgrade their outlook, the world’s most powerful policymakers argued on Wednesday.

After imposing punitive tariffs on a number …

June 20, 2018 - 12:27 pm Closing Bell Story‎, Energy News, International
Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Inc. (ticker: VET) closed the acquisition of Spartan Energy Corp. for a total consideration of $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt.

Vermilion acquired all of the …

U.S. Rig Count Heads Up to 1,059

U.S. Rig Count Heads Up to 1,059

Baker Hughes released its weekly rig count today. The total U.S. number of rigs went up 13, ending the week of May 25, 2018 at 1,059. A year ago at this time there were 881 U.S. rigs at work.

Texas …

Courtesy of RSP Permian

OECD Inventories Lowest in Three Years: IEA

Inventory declines have brought prices to three-year highs

The International Energy Agency (IEA) released its monthly Oil Market Report today, outlining the group’s analysis of the overall oil market.

In March 2018, OECD stocks declined by 27 million barrels to …

We Can Ramp Production Back Up to Pre-Cut Levels in 60 Days: Rosneft

We Can Ramp Production Back Up to Pre-Cut Levels in 60 Days: Rosneft

Russian giant Rosneft Oil Company (ticker: ROSN) reported a Q1 2018 net income of USD$1.5 billion (RUB$81 billion) with a spending budget of $3.9 billion (RUB$223 billion).

More multistage fracs, horizontal wells

The company produced 5.71 MMBOE in Q1 2018. …

National Oilwell Varco: Six-Quarter Streak Snapped

National Oilwell Varco: Six-Quarter Streak Snapped

National Oilwell Varco (ticker: NOV) reported a first quarter 2018 net loss of $68 million, or $(0.18) per share.

Revenues for the first quarter were $1.8 billion, a decrease of 9% compared to the fourth quarter of 2017 and an …

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Company (ticker: COP) reported first quarter 2018 earnings of $0.9 billion, or $0.75 per share. This compares to first quarter 2017 earnings of $0.6 billion, or $0.47 per share.

First quarter production, excluding Libya, was 1,224 MBOEPD. Production from …

Halliburton

Halliburton Writes Down All Remaining Venezuela Investments

Market is 1 million to 1.5 million horsepower undersupplied

Halliburton Company (ticker: HAL) reported an income of $46 million, or $0.05 per diluted share for the first quarter of 2018. This is an improvement over Q1 2017’s net loss of …

Halliburton Nisku, Alberta Canada
Victor Gribansiciy
November 2006

American Energy Imports Lowest Since 1982

U.S. continues to import less while exporting more

Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and …

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Calgary’s Canacol Energy Ltd. (ticker: CNE) recorded a net loss of USD$148 million for the year ended December 31, 2017, or $(0.48) per share – this compares to a net income of $23.6 million for the same period in 2016. …

Illustrative Map of Turkey

TransAtlantic Petroleum Drilling Turkey

TransAtlantic Petroleum Ltd. (ticker: TAT) recorded a net loss in 2017 of $23.9 million, or $(0.50) per share. For Q4 2017, the company had a net loss of $4 million, or $(0.09) per share.

The company’s wellhead production from continuing …

Eco-Stim Energy Pushes Further Into STACK

Eco-Stim Energy Pushes Further Into STACK

Eco-Stim Energy Solutions, Inc. (ticker: ESES) reported a net loss of $26.9 million, or $(0.41) per basic and diluted share for the full year of 2017. For Q4 2017, EcoStim reported a net loss of $9.1 million, or $(0.12) per …

VAALCO Energy Earns $0.17 Per Share in 2017

VAALCO Energy Earns $0.17 Per Share in 2017

VAALCO Energy, Inc. (ticker: EGY) reported an income of $10.3 million, or $0.17 per diluted share for 2017. In Q4 2017, the company reported an income of $3.5 million, or $0.06 per diluted share.

The company produced an average of …

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

In this update to our 2016 rankings, the top two slots in the list still belong to the Russian giants, Exxon is still third, and PetroChina held onto fourth place – but Shell and BP flipped positions, changing the makeup

Vermilion Energy Increases Dividend, Reduces Debt

Vermilion Energy Increases Dividend, Reduces Debt

International producer Vermilion Energy Inc. (ticker: VET) increased production by 8% from Q3 2017, reaching an average of 72,821 BOEPD in Q4 2017.

For Q4 2017, Vermilion Energy reported net earnings of $8.645 million, or $0.07 per share. This compares …

Nabors Industries Cuts Loss in Half

Nabors Industries Cuts Loss in Half

Drill rigs, equipment and software provider Nabors Industries Ltd. (ticker: NBR) reported full-year 2017 operating revenue of $2.6 billion, compared to operating revenue of $2.2 billion in the prior year. Net income from continuing operations attributable to Nabors for the …

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be …

IEA World Oil Demand (mb/d = Millions of Barrels per Day), Feb. 2018

World Hungers for Oil: IEA

The International Energy Agency (IEA) released a new Oil Market Report (OMR) today.

In its OMR, the IEA said countries across the globe have been steadily consuming more and more oil over the past few years.

The IEA said that …

GeoPark Produced 10.2 MMBOE in 2017, Receives Reserve Report

GeoPark Produced 10.2 MMBOE in 2017, Receives Reserve Report

‘For every barrel produced, we replaced it with almost three proven barrels’ – GeoPark CEO James Park

EnerCom Dallas presenter GeoPark Limited (ticker: GPRK) recently received an independent appraisal of reserves covering 100% of the company’s assets in Colombia, Chile, …

Weatherford: Net Loss of $1.94 Billion

Weatherford: Net Loss of $1.94 Billion

Weatherford International plc (ticker: WFT) reported a net loss of $1.94 billion, or a loss of ($1.95) per share for the fourth quarter of 2017. Non-GAAP net loss for the fourth quarter of 2017, excluding charges and credits, was $329 …

ExxonMobil Plans to Ramp Up Drilling in Permian and Bakken

ExxonMobil Plans to Ramp Up Drilling in Permian and Bakken

Exxon Mobil Corporation (ticker: XOM) reported 2017 earnings of $19.7 billion, compared to $7.8 billion in 2016 – this represents a 151% increase. Non-cash asset impairments of $1.5 billion were recorded during the year, mainly due to upstream assets.

Q4 …