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US Petroleum Demand Strongest Since 2007

Industry Headlines

Oil Prices End Volatile Week on Mild Note
Friday, August 16, 2019 WTI and Brent crude oil futures concluded a volatile week of trading with modest gains Friday.

US Adds Six Oil Rigs
Friday, August 16, 2019 After several weeks of declines, the U.S. tacked on an additional six oil rigs.

OPEC Sees Somewhat Bearish Oil Outlook
Friday, August 16, 2019 Global oil markets face a 'somewhat bearish' outlook for the rest of the year, according to OPEC.

US Petroleum Demand Strongest Since 2007
Friday, August 16, 2019 In the year-to-date through July, total U.S. petroleum demand averaged its strongest level since 2007.

Trump Sanctions Leave Russian Exporters $1B Richer
Friday, August 16, 2019 U.S. President Donald Trump's sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil.

Oil Set for Gain as Trade War Whipsaws Market
Friday, August 16, 2019 Oil headed for its first weekly gain this month.

Oil Prices Slide Again
Thursday, August 15, 2019 WTI and Brent crude oil finished lower for the second straight trading day.

US Seeks to Block Release of Oil Ship
Thursday, August 15, 2019 The U.S. is seeking to block authorities in Gibraltar from releasing the supertanker Grace 1.


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Exploration

High-Impact Discoveries Already Greater than 2018
Thursday, August 15, 2019 Sixteen discoveries estimated to be larger than 100 million barrels of oil equivalent were made in the first half of the year.

Pacific Drilling Rig Lands US Gulf Work
Tuesday, August 13, 2019 Pacific Drilling on Tuesday released its updated fleet status report, which includes a bit of work in the U.S. Gulf of Mexico. PHOTO SOURCE: Pacific Drilling

Discovery Offshore Guyana Better Than Expected
Monday, August 12, 2019 Tullow reported a better-than-expected start to its offshore Guyana drilling campaign.

Permian Fracking Continues to Break Records
Wednesday, August 07, 2019 Hydraulic fracturing in the Permian broke old records in June, according to energy research firm Rystad Energy, who estimates there were as many as 18 wells fracked per day in June.

IOG Spuds Harvey Appraisal Well in North Sea
Wednesday, August 07, 2019 Independent Oil and Gas has spudded the Harvey appraisal well in the UK Southern North Sea.

Qatar Petroleum Expands Reach into Guyana
Monday, July 29, 2019 QP will obtain a share of exploration and production rights in two offshore Guyana blocks.


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Production

Canada's Oil Industry Needs More Outlets
Friday, August 16, 2019 Canada needs new outlets for its oil production, particularly with such stagnant domestic consumption.

Who Leads the World's E&Ps in Production Growth?
Thursday, August 15, 2019 Rystad Energy ranks the world's E&Ps according to their production growth over the last five years.

$7.7B UKCS Project Achieves First Oil
Thursday, August 15, 2019 The Mariner field in the U.K. North Sea. PHOTO: Jamie Baikie and Michal Wachucik, Equinor ASA.

Utgard Start-Up Gets NPD Consent
Wednesday, August 14, 2019 The Norwegian Petroleum Directorate grants its consent for the start-up of the Utgard field in the North Sea.

Norwegian Field Gets New Life
Tuesday, August 13, 2019 Petroleum Safety Authority Norway has given Repsol consent to extend the life of the Rev field until April 2021.

Alberta's Oil Limits Seem to be Working
Thursday, August 08, 2019 Alberta's oil production curbs finally appear to be draining inventories, at least for now.


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Finance and Investing

Hedge Funds Bet on Oil Rally
Monday, August 12, 2019 Hedge Funds were right on the money for a second straight week as oil gets pulled in opposite directions by Donald Trump and Saudi Arabia.

Oxy Begins Bond Sale to Fund Anadarko Deal
Tuesday, August 06, 2019 Occidental is selling $13 billion of debt to help finance its acquisition of Anadarko after receiving over $75 billion in orders for the deal at the peak, according to people familiar with the matter.

Wealth Fund's Bid to Dump Big Oil Now a Whimper
Tuesday, August 06, 2019 After revealing it wants to dump all oil stocks in a market-shattering bang in 2017, Norway's $1.1 trillion wealth fund's actual divestment could now be so small it hardly matters.

BP Bucks Trend of Big Oil Earnings Misses
Tuesday, July 30, 2019 BP bucked the trend of disappointing oil and gas earnings.

US Firms Want Nigeria Reforms Before Investing
Friday, July 26, 2019 Nigeria, Africa's biggest oil producer, could attract more U.S. investment if the oil and gas sector becomes less opaque and a fuel-price peg is removed, according to a U.S. official.

Aramco IPO Bankers Question If Deal Is Worthwhile
Friday, July 19, 2019 When Saudi Arabia announced plans to sell shares in its crown jewel Aramco, international bankers scrambled to get a piece of the action.


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Company Operations

Seadrill Gains Foothold in Key Jackup Market
Friday, August 16, 2019 Seadrill and GDI have formed a 50:50 joint venture.

TGS Completes Spectrum Acquisition
Friday, August 16, 2019 TGS-NOPEC Geophysical Company ASA has completed its acquisition of Spectrum ASA.

GE Sinks Most in Four Years Amid Madoff Accusations
Thursday, August 15, 2019 General Electric Co. fell the most since 2015 after a prominent whistle-blower working with a short-seller accused the company of masking financial problems.

Kreuz Subsea CEO Resigns
Thursday, August 15, 2019 Kreuz Subsea's board members have accepted the resignation of group CEO Ashit Jain.

Halliburton Wins Nine Contracts for Work Offshore Senegal
Monday, August 12, 2019 Woodside Energy has awarded Halliburton nine conditional contracts for drilling and completions services offshore Senegal.

Saudi Aramco's First Results Call Yields No Surprises
Monday, August 12, 2019 Saudi Aramco's senior executives can breathe a collective sigh of relief after the company's first-ever earnings call with investors.


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