NEW YORK/LONDON – Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration in Guyana, the world’s newest oil and gas hot spot, two people familiar with …
JEDDAH – Saudi Aramco said on Tuesday its domestic fuel supplies had not been affected by an attack the previous day by Yemen’s Houthi group on a petroleum products distribution plant in Jeddah, with operations resuming three hours after …
One of the commissioners of the U.S. Commodity Futures Trading Commission on Tuesday criticized as “incomplete and inadequate” the federal agency’s report on April’s plunge in oil futures deep into negative territory.
Dan Berkovitz, a Democrat who holds one …
LONDON/BRUSSELS – Can you put a price on pollution? Some of the world’s biggest economies are doing just that as they wrestle with how to make good on grand pledges to tame planet-warming emissions.
Matters are coming to a …
LONDON – Oil hit its highest since in March on Tuesday, rising above $47 a barrel as a third promising coronavirus vaccine raised demand recovery hopes and U.S. President-elect Joe Biden received the go-ahead to begin his transition.
AstraZeneca …
Barclays kept its “above consensus” 2021 oil price forecasts on Monday, predicting Brent at $53 a barrel based on output discipline by OPEC and its allies, and based on a potential COVID-19 vaccine boosting demand in the second half.…
LONDON – Hedge funds started to become more bullish on the outlook for oil last week amid rising hopes a successful coronavirus vaccination programme will enable the early resumption of business activity and air travel.
Hedge funds and other …
ZoneVu Recognized as Breakthrough Cloud Product for Horizontal Drilling
Denver, Colorado – November 23, 2020 – Ubiterra announced today that it was awarded a Colorado Advanced Industry Grant as a part of a competitive selection …
RIYADH/DUBAI – Yemeni Houthi forces fired a missile that struck a Saudi Aramco oil company distribution station in Saudi Arabia’s Red Sea city of Jeddah, a Houthi military spokesman said on Monday.
There was no immediate Saudi confirmation of
LONDON – Oil prices rose on Monday, extending last week’s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand.
Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia
JPMorgan economists now see an economic contraction in the first quarter due to the spreading coronavirus and related restrictions being imposed by states and cities.
The new forecast is a departure from Wall Street’s widely held view that the …
SINGAPORE – Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil …
LONDON – Arrivals of diesel and gasoil from Europe and the Baltics regions to the United States northeast coast have surged to a record high so far in November, according to data analytics firm Vortexa.
Preliminary November arrivals to …
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 310 rigs. Canada had an increase of 12 over last week, resulting in …
The Colorado Oil and Gas Conservation Commission is apologizing after sending an inappropriate email ridiculing the very companies it regulates. CBS4 has learned that staff members at COGCC were testing a new e-filing system when they inadvertently sent an …
The U.S. Fourth Circuit Court of Appeals rejected a motion to stay a permit for the $5.8-$6.0 billion Mountain Valley natural gas pipeline from West Virginia to Virginia.
Analysts said that court decision on Wednesday – not to stay …
NEW YORK – Oil prices edged higher on Friday, on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains.
Brent …
Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.
The announcement comes as …
NEW YORK – Oil prices slipped on Thursday as hopes for a vaccine were overshadowed by a surge in new cases of the coronavirus around the world, which raised concerns about the outlook for crude demand.
Brent crude was …
The EIA has released its natural gas inventory report, showing a net increase of 31 Bcf as of November 13, 2020.
Working gas in storage was 3,958 Bcf as of Friday, November …
SINGAPORE – Global container shipping rates have surged to records on a spike in restocking demand in the United States and Europe, container scarcity at export hubs, and changes in freight flows because of the coronavirus pandemic, shipping sources …
Oil prices firmed on Wednesday as hopes that producer group OPEC and its allies will delay a planned increase in oil output to offset a bigger than expected build in U.S. crude inventories.
Brent crude futures rose 50 cents, …
PORT HARCOURT/LAGOS – Oil companies have asked security services to tighten surveillance as violent anti-police brutality protests and the expected sacking of hundreds of workers worsen desperation in the region, industry sources told Reuters.
Already unemployment is above 40% …
S&P Global Ratings warned that banks could face their toughest year since the aftermath of the global financial crisis, with four key risks hanging over the sector.
The ratings agency currently has a “negative” outlook for about one third …
Alex Epstein, who most know from his book “The Moral Case for Fossil Fuels” has been busy.
Since founding the energy think tank Center for Industrial Progress in 2011 he received the “Most Original Thinker of 2014” award …
WASHINGTON – The U.S. Treasury Department on Tuesday issued a new license to Chevron Corp, the last major U.S. oil company still operating in Venezuela, giving it until June 3 to wind down its joint ventures in the OPEC …
DUBAI/LONDON/MOSCOW – OPEC and its allies see oil inventories declining further in 2021 should producers extend supply curbs for three months or more, a confidential document seen by Reuters shows, supporting the case for a tighter policy on crude …
DUBAI/MOSCOW/LONDON – Saudi Arabia called on fellow OPEC+ members on Tuesday to be flexible in responding to oil market needs as it builds the case for a tighter oil production policy in 2021 to tackle weaker demand amid a …
Natural gas explorer and producer Gulfport Energy Corp filed for Chapter 11 bankruptcy on Friday, becoming the latest company in the U.S. energy sector to succumb to weak crude prices as the COVID-19 pandemic crimps fuel demand.
In a …
