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Oil Prices Rise Alongside High Demand, Red Sea Shipping Attacks, and Lower US Production
Oil prices rose on Wednesday as investors weighed strong U.S. gasoline demand data, attacks on shipping in the Red Sea, and a forecast for lower U.S. oil production.Brent crude futures were up 38 cents, or 0.54%, to $70.53 a barrel by 1:25 p.m. EDT. U.S. West Texas Intermediate crude was up 43 cents, or 0.63%, to $68.76 a barrel.U.S.
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BP will sell its US onshore wind business for an undisclosed amount to LS Power
BP announced on Friday that it had agreed to divest its U.S. Onshore Wind business to U.S. based power grid operator LS Power as part of its ongoing strategy to divest. The energy giant did not disclose the deal's value. Investors have criticized BP for its poor performance in recent months.
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Halliburton profits slump on weak drilling demand in North America and the Middle East
Halliburton announced a 33% drop in profits for the second quarter Tuesday due to weak demand in North America, Saudi Arabia, and Kuwait. The company warned of a negative impact on earnings in the second quarter due to President Donald Trump’s tariffs, and lower oilfield activities in North America.
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Mellitah Oil and Gas, Hill International to Collaborate on Libya Gas Project
Mellitah Oil and Gas will work with U.S. construction consulting firm Hill International to manage a project which aims to boost Libya's gas output, the country's National Oil Company (NOC) said in a statement on Wednesday.NOC said a cooperation agreement was signed during a visit by U.S.
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Nippon Steel to Supply Material for Vestas Wind Towers
Nippon Steel signed a cooperation memorandum with Denmark's wind turbine maker Vestas Wind Systems on Wednesday to supply steel for Vestas' wind towers for European, Asian and Japanese markets, Japan's industry ministry said.The agreement was part of a broader push by Japan's Ministry of Economy…
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Due to disagreements, informal miners in Peru have suspended talks with the government.
One of the leaders of the protest said that informal miners in Peru may resume their protests if they cannot reach an agreement with the government.
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Fitch raises Pemex’s credit rating from 'BB' to 'BB+' citing a stronger government's support
Fitch Ratings upgraded Petroleos Mexicanos (Pemex), the Mexican state energy company, to a 'BB' credit rating from a 'B+,' on Tuesday.
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Construction costs at Canada's Woodfibre Liquefied Gas project are rising
Enbridge, a Canadian pipeline company, reported that the construction costs of Canada's Woodfibre Liquefied Gas project have increased…
Latest news
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Construction costs at Canada's Woodfibre Liquefied Gas project are rising
Enbridge, a Canadian pipeline company, reported that the construction costs of Canada's Woodfibre Liquefied Gas project have increased…
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
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NextDecade has set September as the final date for investment decisions on Rio Grande LNG Train 5.
NextDecade Corp, a U.S. developer of liquefied gas in Texas, said it would make a final decision about its Rio Grande LNG Train 5 by mid-September.
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Chevron surpasses Wall Street profit expectations with record output
Chevron surpassed analyst expectations for the second quarter profit on Friday, as record oil production and lower capital…
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Chevron surpasses Wall Street profit expectations with record output
Chevron surpassed analyst expectations for the second quarter profit on Friday, as record oil production and lower capital…
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Exxon exceeds profit expectations with higher production despite low oil prices
Exxon Mobil - the United States’ largest oil producer - beat Wall Street expectations for the second quarter profit on Friday…
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Exxon exceeds profit expectations with higher production despite low oil prices
Exxon Mobil - the United States’ largest oil producer - beat Wall Street expectations for the second quarter profit on Friday…
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Prices for gas in Europe remain stable as global demand and outages support prices
Dutch and British wholesale prices for gas were mostly flat on Friday morning. Outages and worries about a tighter market…
Exploration
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New Zealand lifts the ban on oil and Gas Exploration imposed by Ardern
The New Zealand parliament passed legislation on Thursday to reopen New Zealand for offshore oil exploration. This lifted…
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China certifies 147,000,000 barrels of oil in Sinopec's shale fields
Sinopec Corp., a Chinese company, announced on Thursday that the Chinese government had certified geological reserves of…
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Watchdog: Former CNOOC executive is expelled from Chinese Communist Party
The Central Commission for Discipline Inspection announced on Wednesday that a former senior executive of state-owned oil…
Drilling
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US crude, distillate inventories rise, gasoline draw down, EIA says
Updates include the price reaction and background data on refineries. The Energy Information Administration reported on Wednesday that U.S.
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Sinopec, a Chinese company, signs a contract with Algeria to explore saline gas blocks
Sinopec Group, China's oil and gas state major, announced that it had signed a contract for the exploration of a natural…
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BP will sell its US onshore wind business for an undisclosed amount to LS Power
BP announced on Friday that it had agreed to divest its U.S. Onshore Wind business to U.S. based power grid operator LS Power…
Production
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Equinor extends Norway LNG Outage until August 3
Equinor, a Norwegian company, has extended a maintenance outage to its Hammerfest LNG Terminal, Europe's biggest liquefied…
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Mellitah Oil and Gas, Hill International to Collaborate on Libya Gas Project
Mellitah Oil and Gas will work with U.S. construction consulting firm Hill International to manage a project which aims to boost Libya's gas output…
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Oil Prices Rise Alongside High Demand, Red Sea Shipping Attacks, and Lower US Production
Oil prices rose on Wednesday as investors weighed strong U.S. gasoline demand data, attacks on shipping in the Red Sea, and a forecast for lower U.S.
