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Stronger Oil Curve Points to Cushing Glut Relief

Industry Headlines

Mexico Oil Executive Asked to Resign Share your comments
Thursday, November 26, 2020A director at the trading arm of Mexico's state oil company was asked to resign after authorizing payments under a profit-sharing plan, according to a person familiar with the matter.

Saipem Supports Women Empowerment Principles Share your comments
Thursday, November 26, 2020Saipem (BIT: SPM) revealed Thursday that it has signed a declaration of support for the Women Empowerment Principles (WEP) and the Manifesto for female employment of the Valore D association.

API and NABTU Urge Senate Action on NAC Share your comments
Thursday, November 26, 2020The American Petroleum Institute (API) and North America's Building Trades Unions (NABTU) have urged the U.S. Senate to act on the National Apprenticeship Act.

Eni Pitches Supercomputer Against Virus Share your comments
Thursday, November 26, 2020Eni (NYSE: E) has announced that its HPC5 supercomputer has run the most complex molecular computation test ever conducted in the world in order to identify new treatments against the virus.

Oil Prices Surge Amid Weaker Dollar and Surprise Draw Share your comments
Wednesday, November 25, 2020Oil closed at an eight-month high.

Oil Price Comeback Seems Unstoppable Share your comments
Wednesday, November 25, 2020The oil price comeback seems unstoppable since news of positive vaccine trials arrived.


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Exploration

Baker Hughes Reports US Rig Rebound Share your comments
Thursday, November 26, 2020The number of rotary drilling rigs operating in the United States rebounded this past week, according to Baker Hughes.

Total Awards Suriname Drilling Contract Share your comments
Tuesday, November 24, 2020Maersk Drilling anticipates a firm total of $100 million from the two-rig contract. PHOTO SOURCE: Maersk Drilling

Odfjell Drilling Signs Equinor Contracts for At Least 27 Wells Share your comments
Tuesday, November 24, 2020Odfjell Drilling has signed final rig contracts for a pair of previously announced Equinor drilling campaigns.

Seadrill Wins GOM Contracts Share your comments
Monday, November 23, 2020Seadrill Ltd has added approximately $52 million of backlog following the end of the third quarter of 2020.

Baker Hughes Rig Counts Show US Decline Share your comments
Saturday, November 21, 2020The overall US rotary rig count fell slightly this week.

Norway Opens More Arctic Areas to Oil Sector Share your comments
Friday, November 20, 2020Norway is offering fresh exploration licenses in the far north less than a week after the Supreme Court finished hearing an appeal over earlier Arctic permits.


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Production

MODEC Selects Asset Management Firm for Brazil FPSO Project Share your comments
Thursday, November 26, 2020ARMS Reliability will assist with developing the Bacalhau FPSO Asset Maintenance Management Philosophy. PHOTO SOURCE: ARMS Reliability

OPEC Watchers Expect 3 Month Supply Boost Delay Share your comments
Thursday, November 26, 2020OPEC and its allies will likely delay a supply increase planned for January by three months, according to a survey of oil analysts, traders and refiners.

Repsol to Rein in Oil Output and Boost Renewables Share your comments
Thursday, November 26, 2020Repsol SA outlined its plans for a greener future, saying it intends to wind down the search for oil and expand its renewable capacity fivefold during the next decade.

Advance Toward $50 Oil Could Be Tricky for OPEC+ Share your comments
Wednesday, November 25, 2020With OPEC+ just days from meeting, countries favoring ratcheting up oil production may be finding some support for their arguments.

OGA Launches Centralized Decom Data Location Share your comments
Wednesday, November 25, 2020The UK Oil and Gas Authority has launched one centralized location for well data related to decommissioning.

Abu Dhabi Okays $122B Oil and Gas Spending Plan Share your comments
Monday, November 23, 2020The UAE is boosting investment to make good on pledges to increase output capacity, even as it struggles against OPEC+ restrictions on supply.


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Finance and Investing

McDermott Secures $560MM in New Capital Share your comments
Thursday, November 19, 2020McDermott International has announced that it has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.

Aramco Kicks Off Bond Sale Share your comments
Tuesday, November 17, 2020Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year.

Aramco Keeps Dividend Share your comments
Tuesday, November 03, 2020Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt continued to rise.

XOM Warns of $30B Shale Writedown Share your comments
Friday, October 30, 2020Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields after posting a historic loss despite sweeping budget and job cuts.

Shell Raises Dividend Share your comments
Thursday, October 29, 2020Royal Dutch Shell set out to woo disgruntled investors by raising its dividend and pledging to grow it steadily, just six months after slashing the payout.

North America Oil Bankruptcy Debt Hits All Time High Share your comments
Friday, October 23, 2020The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high, according to Rystad Energy.


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Company Operations

BP to Invest More in Middle East Oil Fields Share your comments
Thursday, November 26, 2020BP Plc said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions.

Keppel Bags $Multimillion FPSO Deal Share your comments
Thursday, November 26, 2020Keppel has secured a contract from a repeat customer worth around $75 million.

Texas Upstream Job Count Rises Again Share your comments
Wednesday, November 25, 2020Texas' upstream oil and gas sector added jobs for the second month in a row in October, TXOGA reported Tuesday.

Angola to Sell Stake in National Oil Company Share your comments
Tuesday, November 24, 2020The sale is part of a push by Africa's second-biggest oil producer to raise cash and jump-start a moribund economy.

Neptune Appoints New Egypt MD Share your comments
Tuesday, November 24, 2020Neptune Energy announced Tuesday that Mohamed Mounes Shahat will join the company in December as its new Egypt Managing Director, based in Cairo.

TXRRC Commissioner Becomes IOGCC Vice Chairman Share your comments
Tuesday, November 24, 2020Texas Railroad Commissioner Wayne Christian has been selected to be the Vice Chairman of the Interstate Oil and Gas Compact Commission.

Noble Shares Reorganization Update Share your comments
Tuesday, November 24, 2020Noble Holding Corporation plc (OTC-PINK: NEBLQ) announced Monday that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company's joint plan of reorganization.


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