Oil & Gas News

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Whispers of $100 Oil Return

Industry Headlines

BOEM Issues First Wave Energy Lease Off West Coast Share your comments
Wednesday, February 24, 2021The Bureau of Ocean Energy Management has issued a lease for the first wave energy research project in federal waters off the U.S. West Coast.

Oil Up as Traders Eye Further Gains Share your comments
Wednesday, February 24, 2021Oil climbed again, with mixed news on global inventories offset by expectations of a prolonged market rally into the summer.

Whispers of $100 Oil Return Share your comments
Wednesday, February 24, 2021Rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel.

Total Concerned with Myanmar Situation Share your comments
Wednesday, February 24, 2021Total (NYSE: TOT) has noted that it is concerned with the current situation in Myanmar.

Oil Prices Show Slight Changes Share your comments
Tuesday, February 23, 2021The market is pricing in a strong short-term deficit, according to oil trader Vitol Group.

Biden Interior Nominee Downplays Fracing Opposition Share your comments
Tuesday, February 23, 2021"The earth is here to provide for us," Haaland told the Senate Energy and Natural Resources Committee.


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Exploration

Petronas Makes Oil and Gas Discoveries Share your comments
Wednesday, February 24, 2021Petronas announced two separate discoveries on Wednesday; Hidayah-1, an oil discovery offshore Indonesia, and Dokong-1, a gas discovery offshore Malaysia.

Aker BP Awards Norwegian Sea 4D Survey Share your comments
Wednesday, February 24, 2021Shearwater will use its SW Tasman and SW Cook multi-purpose vessels for the project. PHOTO SOURCE: Shearwater GeoServices

Morocco Subsea Project Gets on Fast Track Share your comments
Wednesday, February 24, 2021The deal will facilitate front-end design, engineering, procurement, construction, installation, and operations of the Anchois project.

Petronas Taps TechnipFMC Unit for Deepwater Project Share your comments
Tuesday, February 23, 2021PETRONAS Carigali has awarded a deepwater development contract to FMC Wellhead Equipment.

CNOOC Makes Large Oil and Gas Find Share your comments
Monday, February 22, 2021CNOOC Limited (NYSE: CEO, TSX: CNU) has made a 'large sized' oil and gas discovery at the Bozhong 13-2 asset in Bohai Bay.

Baker Hughes US Rig Count Holds Steady Share your comments
Saturday, February 20, 2021The number of rotary drilling rigs operating in the US remained flat this week, Baker Hughes reported Friday.


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Production

Biden Keystone XL Snub Props Up Crude-by-Rail Share your comments
Wednesday, February 24, 2021Oil exports by rail from Canada have more than tripled since July.

Oxy Expects 40% Unused Pipeline Capacity from Permian Share your comments
Wednesday, February 24, 2021The company's expected 485,000 bpd of Permian oil equivalent production represents just 60% of its committed pipeline capacity.

Well Plugging Starts in Pioneering North Sea Field Share your comments
Tuesday, February 23, 2021Plugging operations began last month in conjunction with the planned shutdown of the Veslefrikk field. PHOTO SOURCE: Øyvind Hagen/Equinor

Neptune Starts Gjoa P1 Production Share your comments
Tuesday, February 23, 2021Neptune Energy announced Tuesday that production has started from the Gjoa P1 development in the Norwegian sector of the North Sea.

Saipem Bags $1.7B Contract with Qatargas Share your comments
Tuesday, February 23, 2021Saipem has received a letter of award for the development of the North Field Production Sustainability Offshore Project.

Total Awards North Sea Services Contract Share your comments
Tuesday, February 23, 2021Total's Alwyn platform in the UK North Sea. PHOTO SOURCE: Total E&P UK Limited


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Finance and Investing

Big Oil Posts Record Loss in 2020 Share your comments
Tuesday, February 23, 2021The five integrated supermajors – ExxonMobil (NYSE: XOM), BP (NYSE: BP), Shell (NYSE: RDS.A), Chevron (NYSE: CVX), and Total (NYSE: TOT) – posted a combined record loss of $76 billion in 2020.

Eni Reports Surprise Quarterly Profit Share your comments
Friday, February 19, 2021Eni SpA posted a surprise fourth-quarter profit as crude prices began to recover and the contribution of low-carbon businesses helped offset the impact of the coronavirus pandemic.

Chesapeake Energy Emerges from Chapter 11 Share your comments
Thursday, February 11, 2021Chesapeake Energy Corporation (NASDAQ: CHK) has announced that it has successfully concluded its restructuring process and emerged from Chapter 11.

Total Beats Earnings Estimates Share your comments
Tuesday, February 09, 2021Total SE bucked the trend of a disappointing fourth quarter for Big Oil, reporting earnings that exceeded expectations and pledging more cash for cleaner energy.

Shell Deepens Big Oil Disappointment Share your comments
Thursday, February 04, 2021Royal Dutch Shell Plc deepened the disappointment of Big Oil's fourth quarter, reporting net income that fell short of expectations and weak cash flow.

Big Oil Has Barely Begun Covid Recovery Share your comments
Tuesday, February 02, 2021BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year's historic slump.


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Company Operations

Lamprell Wins Large Aramco Deal Share your comments
Wednesday, February 24, 2021Lamprell revealed Wednesday that it has been awarded a 'large' Engineering, Procurement, Construction and Installation contract by Saudi Aramco.

RIL to Spin Off Oil-to-Chemicals With $25B Loan Share your comments
Tuesday, February 23, 2021Reliance Industries Ltd. has started carving out its new oil-to-chemicals operation into an independent unit with a $25 billion loan from the parent.

Petrobras Market Value Plummets After Bolsonaro Fires CEO Share your comments
Monday, February 22, 2021A sell-off in Petroleo Brasileiro SA picked up on Monday after a group of analysts downgraded the stock within 24 hours.

Gonce Takes Onshore Helm at Danos Share your comments
Monday, February 22, 2021Danos has promoted Justin Gonce to onshore general manager.

Petrofac Sells UK In-Person Training Business Share your comments
Monday, February 22, 2021Petrofac has revealed that it has divested its in-person training business in Scotland to 3t Energy Group.

Aker Wins Contract for Equinor-BP US Wind Project Share your comments
Sunday, February 21, 2021Aker Solutions (FRA: 1AKA) has revealed that it has won a front-end engineering and design contract for the Empire Wind project in the U.S.


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