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OPEC+ Risks Oil Slump Below $50

Industry Headlines

Offshore Oil to Peak in 2020, Then Slow Down
Tuesday, November 12, 2019 Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slowdown that could dramatically rewrite market supply predictions.

2019 Marks Nadir of Oil Demand Growth
Tuesday, November 12, 2019 This year will mark the nadir of oil demand growth over the next five years, according to a new report from Fitch Solutions Macro Research.

OPEC+ Risks Oil Slump Below $50
Tuesday, November 12, 2019 With their next meeting just weeks away, OPEC and its partners are showing no impetus for stronger action to support oil prices.

Oil Prices Falter and Gas Futures Tumble
Monday, November 11, 2019 WTI and Brent crude oil futures edged downward Monday.

Mexico Votes in New CNH President
Monday, November 11, 2019 Rogelio Hernandez Cazares has been voted in as the new president of the National Hydrocarbons Commission.

Oil Down on Mixed Trade-War Signals
Monday, November 11, 2019 Oil retreated from a 7-week high as investors weighed mixed signals on the progress of U.S.-China trade talks.

Oil Bulls Make Shy Comeback
Monday, November 11, 2019 Hedge funds are showing cautious optimism that oil has room to rally.


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Exploration

Bolivia Crisis Thwarts Shell Gas Exploration
Tuesday, November 12, 2019 Natural gas exploration by global oil companies in Bolivia has stopped amid an escalating political crisis that has left the Andean nation rudderless.

Argentina's Shale Trove Risks Staying Buried
Monday, November 11, 2019 Drillers in Argentina are scared that interventionist economic policies will foil the world's next big shale hope.

Iran Finds New 53 Billion Barrel Field
Monday, November 11, 2019 Hassan Rouhani, the president of the Islamic Republic of Iran, revealed Sunday that Iran has discovered a new oil field with 53 billion barrels of reserves.

Helix to Deploy New Rig Offshore Nigeria
Friday, November 08, 2019 Pictured is Helix Energy Solutions' new Q7000 well intervention semi-submersible rig. PHOTO SOURCE: Sembcorp Marine

New North Sea Oil and Gas Discovery Made
Wednesday, November 06, 2019 Equinor has discovered oil and gas in exploration well Echino South.

Giant Offshore Brazil Oil Discovery May Be Expensive for Exxon
Friday, November 01, 2019 Exxon Mobil Corp. could take a pass on what it considers the world's top deepwater oil discovery when Brazil puts the giant Buzios field up for auction next week.


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Production

Tunisia's Big Gas Field About to Start Pumping
Tuesday, November 12, 2019 Tunisia's biggest energy project -- a long-delayed, $1.2B joint venture with Vienna-based OMV AG -- will start producing natural gas by the end of the year.

US Daily Oil Output Growth Could Fall from 440K to Nil
Wednesday, November 06, 2019 Welcome to the new era of moderation for shale producers.

UAE Advances in Global Reserves Lists
Monday, November 04, 2019 Abu Dhabi's Supreme Petroleum Council announced significant increases in the UAE's oil and natural gas reserves as well as new discoveries.

OPEC Output Bounces Back Amid Saudi Arabia Recovery
Friday, November 01, 2019 OPEC's oil production rebounded in October from an eight-year low as Saudi Arabia swiftly recovered from an attack on its biggest crude-processing plant.

Apache Progresses High Volume North Sea Wells
Friday, November 01, 2019 Apache Corporation is nearing first production from two new 'high-volume' North Sea wells.

Trump Says He's Secured the Oil in Syria
Thursday, October 24, 2019 President Donald Trump says he's secured 'the Oil' in Syria.


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Finance and Investing

Offshore OFS Could Get Major Boost in SE Asia
Monday, November 11, 2019 Offshore project sanctions in Southeast Asia could lift greenfield investments in the oilfield services market by nearly 70 percent in 2020, according to Rystad Energy.

EU Majors Take Stakes in Abu Dhabi Oil Bourse
Monday, November 11, 2019 BP, Shell and Total are among partners in a new exchange to trade Abu Dhabi's flagship oil grade in what could become a new price benchmark for a fifth of the world's crude.

Chesapeake Stock Nosedives to 20-Year Low
Wednesday, November 06, 2019 Shares fell as much as 24 percent intraday on Wednesday to their lowest since 1999.

ENH to Woo Investors for $1.5B Gas Financing
Wednesday, November 06, 2019 Mozambique will court investors for $1.5 billion of financing for a giant natural-gas project run by Total SA.

Mitsubishi to Shut Singapore Based Oil Unit
Wednesday, November 06, 2019 Mitsubishi Corp. will shut its Singapore-based oil unit after saying a rogue trader lost about $314 million in unauthorized transactions.

Aramco to Trade on Saudi Exchange in Dec
Tuesday, October 29, 2019 Shares in Aramco will start trading on Saudi Arabia's stock exchange on Dec. 11, television news channel Al Arabiya reported.


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Company Operations

Former Chevron CEO Gets Highest API Honor
Tuesday, November 12, 2019 The American Petroleum Institute has awarded its highest honor to John S. Watson.

Pemex Workers Barred from Computers
Tuesday, November 12, 2019 Some Pemex employees were told not to access the company's computer system on Monday after it was unexpectedly shut down over the weekend, according to people familiar with the situation.

Oxy to Sell Permian Campus After Anadarko Acquisition
Monday, November 11, 2019 Occidental plans to sell a four-story office building in the heart of the Permian Basin and move employees into a nearby one owned by Anadarko.

Ithaca Completes $2B Chevron North Sea Deal
Monday, November 11, 2019 Ithaca Energy Limited announced Monday that it has completed its $2 billion acquisition of Chevron North Sea Limited.

Equinor Inks $325MM Deal to Sell Eagle Ford Assets to Repsol
Friday, November 08, 2019 Equinor has signed an agreement to divest its position in the Eagle Ford to Repsol for $325 million.

Honeywell on Constant Lookout for Tech Savvy Oil, Gas Talent
Friday, November 08, 2019 Jason Urso, CTO of Honeywell's global software industrial automation unit, says the company wants energy enthusiasts who appreciate software-based tech.


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