PARAMARIBO – Suriname’s state firm Staatsolie and a unit of Chevron Corp CVX.Nhave signed a production sharing contract for exploring and producing oil at an offshore block, the companies said on Wednesday, expanding their cooperation in the South …
An analyst at Evercore ISI, which tracks many market and regulatory factors affecting oil and gas, says he has been getting questions this morning about the Monday/Tuesday overnight news that Senator Joe Manchin (D-W.V.) convened a bipartisan group, …
(Bloomberg) — Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting.
The invasion of Ukraine forced the global supermajors to sever most of their ties with …
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast.
“We must …
Exxon Mobil Corp said on Wednesday that its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations, where it has become increasingly difficult to ship crude out of due to sanctions on Russia.
The …
Haynes and Boone, LLP and EnerCom, Inc. have released the third edition of their Oil & Gas ESG Tracker, which reflects the growing impact the environmental, social and governance (ESG) movement has had on …
(Bloomberg) — The global oil industry is on pace to repeat or even surpass the heady days of 2008 when crude ascended to dizzying heights and drilling profits soared, according to the world’s biggest oilfield contractor.
In the …
The Biden administration on Monday reversed a Trump administration plan that would have allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling.
The Bureau of Land Management’s …
(Bloomberg) — Asia is still snapping up cheap Russian oil that European buyers don’t want.
Seaborne exports of the nation’s crude rebounded in the seven days to April 22. One-fifth of the volume shipped from ports on …
Publisher’s Note: Exum Instruments was a presenting company at the 2022 The Energy Venture Investment Summit presented by EnerCom and Colorado School of Mines. You can view a replay of Exum’s presentation at The Energy Venture …
Oil prices opened slightly higher on Tuesday, after falling sharply the prior session on worries that continued Covid-19 lockdowns in China would eat into demand and as the U.S. dollar rose to a two-year high.
Brent crude futures were …
Haynes and Boone, LLP and EnerCom, Inc. have released the third edition of their Oil & Gas ESG Tracker, which reflects the growing impact the environmental, social and governance (ESG) movement has had on …
New York City pension leaders said the $262 billion system will mostly favor calls for sharp limits on fossil fuel lending at top banks this week, giving a late boost to activists who have gained little backing from proxy …
(Bloomberg) — More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region.
The blast at …
BRUSSELS – European Union countries will this week debate a possible deal to share out the costs of buying gas to fill storage and build a supply buffer ahead of next winter, according to a draft document seen by …
LONDON – Portfolio investors purchased petroleum last week for the first time in four weeks, but overall positioning remained subdued by the high cost of margin and large uncertainties surrounding both crude supply and demand.
Hedge funds and other …
U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep dropoff in refining capacity and crude oil supplies tightened because of Russia’s war with Ukraine.
Refining capacity worldwide has dropped …
(Bloomberg) — Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production.
Oil Minister Mohamed Oun met tribal leaders on Sunday to discuss the …
LONDON – Oil slumped almost 6% to its lowest in almost two weeks on Monday, extending last week’s decline as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases in U.S. interest rates would hurt global …
LONDON – Britain has granted Russia’s Gazprombank and its subsidiaries a licence for payments until the end of May despite sanctions in order to ensure gas supplies to the European Union, a Treasury document showed on Friday.
The licence …
Global mining companies must overcome COVID-related labour shortages and soaring production costs if they are to meet annual production targets, analysts said after downbeat quarterly reports.
London-listed Anglo American AAL.L and Antofagasta ANTO.L are among those to have either …
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 695 rigs. Canada had a decrease of 2 over last week, resulting in …
Goals build upon CRC’s commitment to sustainability, 2045 Full-Scope Net Zero …
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(Bloomberg) — Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing.
The second-biggest provider of frac work in …
(Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of …
Refiners are planning to spend the summer increasing jet fuel and diesel production instead of gasoline, traders and analysts said, favoring what have historically been the least profitable parts of the barrel instead of the most profitable.
That is …
