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Oil Majors' Carbon, Portfolio Changes Offer Long-Term Positives

Industry Headlines

EIA Raises Oil Price Forecast
Thursday, November 14, 2019 The U.S. Energy Information Administration has raised its Brent oil price forecast.

Oil Up After Report Points to US Inventory Drop
Thursday, November 14, 2019 Oil rose for a second day after an industry report pointed to a drop in U.S. inventories.

Hacker Wants Near $5MM Ransom from Pemex
Wednesday, November 13, 2019 The hacker behind a cyberattack that has crippled Petroleos Mexicanos's computer systems since the weekend is hoping to squeeze almost $5 million out of the company.

Oil Prices Finish Higher at Midweek
Wednesday, November 13, 2019 The WTI and Brent crude oil benchmarks traded higher Wednesday.

Oilfield Hired Hands Seek CFO Heft to Sustain Downturn
Wednesday, November 13, 2019 The hired hands of the oil patch are demanding a tighter rein from the CFO suite in order to survive lower oil prices.

Oil Demand to Hit Plateau Around 2030
Wednesday, November 13, 2019 Global oil demand will hit a plateau around 2030, the International Energy Agency predicts.

Oil Down After Trump Damps Trade-Deal Optimism
Wednesday, November 13, 2019 Oil fell for a third day as President Donald Trump failed to provide any fresh details on trade negotiations with China.


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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

US Boosts Oil Output Forecast
Thursday, November 14, 2019 The pioneers of the U.S. shale boom are warning of a slowdown in oil production growth, but it appears the U.S. government doesn't agree.

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.


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Finance and Investing

Tullow Falls Most in 21 Years
Wednesday, November 13, 2019 Tullow Oil Plc fell the most in two decades in London trading after saying it's reassessing the commercial viability of discoveries in Guyana.

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.


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Company Operations

ADNOC Drilling Announces Major Rig Fleet Expansion
Thursday, November 14, 2019 ADNOC Drilling announces a 'major' rig fleet expansion program 'to support ADNOC's upstream growth plans'.

Range Resources Closes Houston Office, Lays Off Staff
Wednesday, November 13, 2019 U.S. natural gas producer Range Resources Corporation will be closing its Houston office, resulting in the layoffs of 50 Houston employees.

Oil, Gas Boys Club of CEOs Sees Woman Join Its Ranks
Wednesday, November 13, 2019 The male-dominated club of oil and gas chief executives just received a new female member.

Halcon Posts Net Loss in 3Q Earnings
Wednesday, November 13, 2019 Houston-based Halcon Resources Corporation reported a net loss of $63.3 million (40 cents per share) in the third quarter.

Oxy Forms Permian JV with Ecopetrol
Wednesday, November 13, 2019 Occidental has closed its previously announced Permian Basin joint venture with Colombia-based Ecopetrol S.A.

TechnipFMC Announces Intent to Sell Vessel
Wednesday, November 13, 2019 TechnipFMC has announced its intent to sell the G1201 vessel.

Schlumberger Wants to Increase Emirati Workforce
Wednesday, November 13, 2019 Schlumberger plans to recruit, and invest in the training of, UAE nationals through participation in ADNOC's In-Country Value Program.

Oil Majors' Carbon, Portfolio Changes Offer Long-Term Positives
Wednesday, November 13, 2019 Both BP and Royal Dutch Shell recently shared downbeat financials but their long-term objectives are a silver lining.


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