Post Tagged with: "Oil"

Source: Caliber Midstream

Caliber Midstream Makes North Dakota Acquisition

By Tyler Losier, Energy Reporter, Oil & Gas 360

Caliber Midstream acquires North Dakota assets from American Midstream Partners
Caliber Midstream Holdings L.P., headquartered in Denver, Colorado, has acquired crude oil gathering and transportation assets in McKenzie county, North Dakota

August 6, 2019 - 5:29 pm
Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

From Reuters


Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.

During the session, Brent traded …

August 6, 2019 - 6:04 am
Oil’s Post-Crash Bounce Fades as Buy-the-Dip Proves a Bust: Kemp

Oil’s Post-Crash Bounce Fades as Buy-the-Dip Proves a Bust: Kemp

From Reuters


Oil prices have continued to drift lower after plunging last week, highlighting the risk for traders trying to exploit mean-reversion strategies by buying futures contracts after a sharp fall in prices.

Front-month Brent futures prices tumbled by more …

August 6, 2019 - 6:02 am
Source: Salt Creek Midstream

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360

SCM Crude LLC to solicit binding commitments for interstate gathering and transportation
SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority

August 5, 2019 - 5:40 pm
Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

By Tyler Losier, Energy Reporter, Oil & Gas 360

Alliance Resource Partners Acquires $145 million worth of Permian mineral interests from Wing Resources
Alliance Resource Partners L.P. (stock ticker: ARLP), a diversified natural resource company based in Tulsa, Oklahoma, has

August 5, 2019 - 5:07 pm
Oil Falls 3% as Trade War Concerns Hit Demand Outlook

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

From Reuters


Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.…

August 5, 2019 - 6:02 am
Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

August 5, 2019 - 6:01 am
UK Joins United States for Maritime Security Mission in Gulf

UK Joins United States for Maritime Security Mission in Gulf

From Reuters


Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel.

British officials stressed that there was no …

August 5, 2019 - 6:00 am
Source: Enbridge Inc.

Enbridge Holds Open Season for Canadian Mainline Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360

Enbridge seeks up to 20-year contracts for transportation services on its Canadian Mainline pipeline system 
Enbridge Inc. (stock ticker: ENB), an energy infrastructure company headquartered in Calgary, will be holding an

August 2, 2019 - 2:08 pm
Source: Ithaca Energy Limited

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters


Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.

Exxon’s topped analysts’ reduced estimates for the quarter but net …

August 2, 2019 - 6:01 am
Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

From Reuters


Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports.

For the week, crude oil benchmarks recorded …

August 2, 2019 - 6:00 am
Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

August 1, 2019 - 5:04 pm
Source: Royal Dutch Shell

Shell Invests in New Deep-Water Gulf of Mexico Project, Sells Assets to Equinor and Noreco

By Tyler Losier, Energy Reporter, Oil & Gas 360

Shell Offshore Inc. makes final investment decision for PowerNap deep-water project in U.S. Gulf
Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc (stock ticker: RDS-A, RDS-B), has reached a

August 1, 2019 - 3:15 pm
Source: Citgo

Venezuela Faces the Loss of Citgo – and Desperately Needed Dollars

From The Houston Chronicle


Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.

A U.S. appeals court ruled on Monday that …

July 31, 2019 - 6:05 am
Source: Occidental Petroleum

Occidental Petroleum Profit Falls on Low Gas Prices, Derivative Contracts

From Reuters


Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to …

July 31, 2019 - 6:04 am
Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

From Reuters


Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.

The front-month Brent crude …

July 31, 2019 - 6:01 am
Anadarko Petroleum Beats Profit Estimates on Higher Output

Anadarko Petroleum Beats Profit Estimates on Higher Output

From Reuters


Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil.…

July 29, 2019 - 6:01 am
Flags of Inconvenience: Noose Tightens Around Iranian Shipping

Flags of Inconvenience: Noose Tightens Around Iranian Shipping

From Reuters


Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later …

July 26, 2019 - 6:00 am
Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

From CNBC


Many cynics have long contended that the real reason the U.S. entered a slew of recent wars was only to protect American oil interests. But now it’s beginning to look like oil may be a major reason why …

July 24, 2019 - 6:04 am
Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

From Bloomberg


Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude …

July 22, 2019 - 6:15 am
Iran’s Ability to Influence Oil Market is Limited: U.S.’s Perry

Iran’s Ability to Influence Oil Market is Limited: U.S.’s Perry

From Reuters


The rise in new suppliers of oil and gas has reduced the ability of Iran to influence global oil markets, U.S. Energy Secretary Rick Perry said on Monday.

The price of crude LCOc1 jumped on Monday following Iran’s …

July 22, 2019 - 6:00 am
Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360

Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel
Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming

July 18, 2019 - 6:21 pm
Bam! – It’s Earnings Season Again

Bam! – It’s Earnings Season Again

By Aaron Vandeford, Managing Director, EnerCom

EnerCom, Inc. has compiled Second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 95 E&P and 73 Oilfield Service companies in the EnerCom database.

Download EnerCom’s full

July 18, 2019 - 5:30 pm
The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

July 17, 2019 - 6:30 am
Oil Trims Loss as Key U.S. Midwest Pipeline Seen Nearing Restart

Oil Trims Loss as Key U.S. Midwest Pipeline Seen Nearing Restart

From Bloomberg


Ozark pipeline out of Cushing storage hub was shut last week, futures still down on talk of China rare-earths restrictions

Oil pared losses after hitting the lowest level since March as a pipeline that drains crude from the …

May 29, 2019 - 6:30 am
Holiday Weekend Road Trip:  Gasoline Prices Mirror Last Year

Holiday Weekend Road Trip: Gasoline Prices Mirror Last Year

EIA expects retail gasoline prices to rise over the coming months
As of this Memorial Day Weekend, the national average price for regular gasoline is hovering around $2.85 per gallon, just slightly below last year’s average price of $2.92.

The

May 24, 2019 - 3:49 pm
Oil Rallies as Mideast Tensions Flare Over Saudi Pipeline Attack

Oil Rallies as Mideast Tensions Flare Over Saudi Pipeline Attack

From Bloomberg

Oil soared to a two-week high as Saudi Arabia accused Iran of ordering this week’s attack on its key oil facilities, fueling tensions between two of the world’s oil-producing superpowers.

Futures in New York advanced 1.4% on Thursday. …

May 16, 2019 - 5:50 pm
Iran Abandons Parts of Nuke Deal

Iran Abandons Parts of Nuke Deal

Iran abandons parts of nuclear deal amid heightened Mideast tensions

May 15, 2019 - 7:15 am
Surge of New Permian Basin Oil to Feed Global Supply

Surge of New Permian Basin Oil to Feed Global Supply

From Bloomberg

Exports of the Permian Basin’s newest kind of oil are set to jump as production surges, exceeding the appetite of U.S. refiners.

Sales of the new grade, known as West Texas Light, began in September, as explorers sought …

May 14, 2019 - 5:32 pm
Oil Is Already Trade War’s Collateral Damage Even Without Duties

Oil Is Already Trade War’s Collateral Damage Even Without Duties

From Bloomberg

U.S. oil shipments are likely to be a casualty of the trade war with China, even though crude was spared from the latest list of American goods targeted with retaliatory tariffs.

While oil has never been subject to …

May 14, 2019 - 5:04 pm