Oil & Gas News

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Oil Holds Gains Near 5-Month High

Industry Headlines

Oil Holds Gains Near 5-Month High Share your comments
Thursday, August 13, 2020Oil held gains near $42 a barrel after closing at a five-month high.

Oil Prices Post Gains on Recovery Signal Share your comments
Wednesday, August 12, 2020Oil closed above a key technical level buoyed by US energy data that suggest a much-awaited recovery in demand is underway.

Biden VP Pick Has Record of Fighting Oil Industry Share your comments
Wednesday, August 12, 2020As California attorney general, Harris filed lawsuits against Phillips 66, ConocoPhillips and others.

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Trump Abandons Obama-Era Methane Leak Curbs Share your comments
Wednesday, August 12, 2020The Trump administration is abandoning Obama administration curbs on methane leaks from oil and gas wells.

Oil Rises Toward 5-Month High Share your comments
Wednesday, August 12, 2020Oil climbed to near a five-month high after an industry report pointed to a third straight weekly drop in American crude stockpiles.

EIA Raises 2020 Oil Price Forecasts Share your comments
Wednesday, August 12, 2020The U.S. Energy Information Administration has raised its 2020 average spot price forecasts for both Brent and West Texas Intermediate oil.

Oil Prices Balk at Key Technical Level Share your comments
Tuesday, August 11, 2020Crude closed lower after failing to hold above a key technical level as a still-raging pandemic threatens to depress demand into the fall.

Job Losses Climb in Oilfield Services Share your comments
Tuesday, August 11, 2020Texas has shed more OFS jobs this year than six other states combined.

Libya NOC Gives Dire Warning Share your comments
Tuesday, August 11, 2020NOC warns the militarization of oil facilities, presence of mercenaries and military escalation increase the risks that hydrocarbons and chemicals stored at oil ports pose to people.


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Exploration

Drilling Permit Trend Suggests No Strong 2020 Rebound Share your comments
Wednesday, August 12, 2020US permits for new horizontal drilling in oil basins fell to a 10-year monthly low in July, Rystad Energy reported Tuesday.

North Sea Prospect Gets Mark Up Share your comments
Wednesday, August 12, 2020Deltic Energy has announced an increase in the estimated volume of gas and in the chance of success at the Selene prospect in license P2437 in the southern North Sea.

New Onshore Survey Announced in Wyoming Share your comments
Wednesday, August 12, 2020TGS has announced a new multi-client U.S. onshore 3D seismic survey, dubbed Voyager 3D.

Turkey Resumes Offshore Exploration Share your comments
Friday, August 07, 2020Turkey resumed oil and gas exploration in the Mediterranean Sea days after the government said it would delay offshore surveys to seek a diplomatic resolution with Greece.

Offshore Scarecrow Could Make Helidecks Safer Share your comments
Thursday, August 06, 2020Say hello to Scaretech. PHOTO SOURCE: Scaretech

Borr Drilling Ups Backlog by $21MM Share your comments
Tuesday, August 04, 2020Borr Drilling has entered into a new contract and letters of intent for three of its currently warm-stacked rigs.


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Production

Petronas to Test New Subsea Pump Share your comments
Wednesday, August 12, 2020PETRONAS and FASTsubsea have signed a contract to develop and test a low-cost, topside-less subsea multiphase pump. IMAGE SOURCE: Aker Solutions

US Shale Producers at a Crossroads Share your comments
Tuesday, August 11, 2020U.S. shale producers are at a crossroads as they find themselves more efficient than ever.

Civil Unrest Shuts Down Peru Oil Field Share your comments
Tuesday, August 11, 2020PetroTal Corp. has shut down the Bretana oil field in Peru due to 'civil unrest'.

Norway Plans Deep Cuts to Oil Loadings Share your comments
Monday, August 10, 2020It looks like Norway will do its bit next month toward helping OPEC+ avert a global glut of crude.

Oil and Gas Drilling Collapse Deepens in July Share your comments
Friday, August 07, 2020The number of rigs drilling for oil and gas set a fresh record low in July.

Iraq Commits to Deep Oil Cuts Share your comments
Friday, August 07, 2020Iraq made its strongest commitment yet to implement deep cuts in crude production after the country's oil minister and his Saudi counterpart held a phone call Thursday.


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Finance and Investing

Profit Warnings Soar for UK Oil Cos Share your comments
Friday, August 07, 2020UK listed oil and gas companies issued more profit warnings in the second quarter of this year than the whole of 2019.

BP Cuts Dividend for First Time Since 2010 Share your comments
Tuesday, August 04, 2020BP cut its dividend for the first time in a decade, removing a cornerstone of its investment case.

Deutsche Bank Drops Some Oil Financing Share your comments
Tuesday, July 28, 2020Deutsche Bank has adopted a new fossil fuels policy.

Equinor In Surprise Profit Share your comments
Friday, July 24, 2020Equinor reported a surprise profit in the second quarter.

Woodside Warns of $4.3B Post Tax Hit Share your comments
Wednesday, July 15, 2020Woodside Petroleum has warned that it expects to take a post-tax hit of $4.37 billion in its financial results for the first half of the year.

BP Investing $70MM in GGEF Share your comments
Wednesday, July 08, 2020BP is investing $70 million in India's Green Growth Equity Fund.


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Company Operations

Iran Wants the Public to Invest in Oil Share your comments
Wednesday, August 12, 2020Iran plans to enable members of the public to invest in oil on its capital markets for the first time.

Halliburton to Auction Off Sites from Alberta to Louisiana Share your comments
Wednesday, August 12, 2020The firm plans to sell 13 North American sites through a mix of online and in-person bidding.

$5B Chevron Deal Wins Support from Israeli Official Share your comments
Wednesday, August 12, 2020Israel's energy minister is "confident" the country's regulators will allow Chevron Corp. to operate the local natural gas assets of Noble Energy Inc.

Petrofac Sets Net Zero and Diversity Targets Share your comments
Wednesday, August 12, 2020Petrofac revealed Tuesday that it has set two new targets to reach by 2030.

Hollub Says Algeria Assets Are Off the Market Share your comments
Tuesday, August 11, 2020Occidental Petroleum CEO Vicki Hollub told analysts the Algerian oil and gas assets are a core holding.

New South Harbour Expansion Contracts Awarded Share your comments
Tuesday, August 11, 2020Aberdeen Harbour Board has issued further contract awards in support of the South Harbour expansion project.

Petrofac-SOCAR JV Gets $100MM BP Deal Share your comments
Tuesday, August 11, 2020A Petrofac-SOCAR joint venture has secured a services contract with BP Azerbaijan.


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