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Oil Prices Start Week on a Positive Note

Industry Headlines

Oil Futures Curve Signals Tighter Market Share your comments
Tuesday, November 24, 2020The oil futures curve, an important gauge of trader bullishness, has strengthened to levels last seen in the early days of the pandemic.

Aramco Says No One Hurt in Blast Share your comments
Tuesday, November 24, 2020Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike on a fuel depot in the Red Sea city of Jeddah.

Oil Prices Start Week on a Positive Note Share your comments
Tuesday, November 24, 2020Oil prices started the week on a positive note, capitalizing on recent Covid-19 vaccine news.

Oil Highest Since March on Vaccine and Biden News Share your comments
Tuesday, November 24, 2020Oil traded at its highest level since March as markets broadly rallied on the start of the U.S. presidential transition process and with the demand outlook strengthening after a string of positive vaccine breakthroughs.

WTI Settles Above $43 a Barrel Share your comments
Monday, November 23, 2020Global oil prices hit the highest level since March.

Oil Up on US Vaccination Optimism Share your comments
Monday, November 23, 2020Oil pushed higher after closing at the strongest level since early September as signs that Covid-19 vaccinations in the U.S. could be underway within three weeks improved the demand outlook.

OGUK Explores Decom in a Low Carbon Future Share your comments
Sunday, November 22, 2020Industry body Oil & Gas UK is exploring decommissioning in a low carbon future in its first virtual conference on November 24-25.


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Exploration

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.

Transocean Wins Petrobras Contract Extensions Share your comments
Thursday, November 19, 2020Petrobras has extended contracts for a pair of Transocean ultra-deepwater drillships.

NOV and NexTier to Test Electric Frac Prototype Share your comments
Thursday, November 19, 2020The companies will jointly field-test a prototype of NOV's electric fracturing system.


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Production

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.

Wintershall Dea Sets Net Zero Target Share your comments
Monday, November 23, 2020Wintershall Dea aims to achieve net zero emissions on its upstream activities by 2030.

Saudi Arabia Seeks to Become Top Hydrogen Exporter Share your comments
Wednesday, November 18, 2020The world's biggest oil exporter has set its sights on also becoming the largest supplier of hydrogen.

$2B Pacific LNG Export Project Advances Share your comments
Wednesday, November 18, 2020The project site in Ensenada, Baja California, Mexico, which includes an LNG regasification terminal. PHOTO SOURCE: Sempra Energy/Cision

Johan Sverdrup Increasing Production Capacity Share your comments
Wednesday, November 18, 2020The Johan Sverdrup field is increasing its daily production capacity to around 500,000 barrels of oil by the end of the year.

Offshore Ireland Decom Campaign Starts for Petronas Unit Share your comments
Wednesday, November 18, 2020AGR has begun decommissioning operations of Ireland's first indigenous gas wells for PETRONAS subsidiary PSE Kinsale Energy.


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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

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.

Oilfield Services Players Seek Electric Fracturing Supremacy Share your comments
Monday, November 23, 2020Rigzone prognosticators identify trends to watch this week in the oil and gas markets.

AqualisBraemar to Buy LOC Group Share your comments
Monday, November 23, 2020AqualisBraemar ASA revealed Monday that it has entered into an agreement to acquire 100 percent of the shares in LOC Group.

Aker Bags Equinor Deal Share your comments
Monday, November 23, 2020Aker Solutions has won a framework agreement with Equinor (NYSE: EQNR) to provide maintenance and modifications services at the Peregrino field, offshore Brazil.


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