Oil & Gas News

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Analysts Look at OPEC+ Deal

Industry Headlines

Analysts Look at OPEC+ Deal Share your comments
Friday, December 04, 2020Analysts from Wood Mackenzie and Rystad Energy take a look at the latest OPEC+ agreement.

Oil Rises Towards $50 After OPEC+ Deal Share your comments
Friday, December 04, 2020Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty.

Oil Prices Climb After OPEC+ Makes Deal Share your comments
Thursday, December 03, 2020Global crude surged to the highest since early March.

Brent Could Soon Incorporate American Crude Share your comments
Thursday, December 03, 2020S&P Global Platts is considering adding a key U.S. crude grade to its North Sea benchmark.

World Gas Conference Delayed to 2022 Share your comments
Thursday, December 03, 2020The 28th World Gas Conference has been rescheduled to 2022 following a risk assessment on the impact of the Covid-19 pandemic by the International Gas Union.

Fitch Solutions Raises Oil Price Forecasts Share your comments
Thursday, December 03, 2020Fitch Solutions Country Risk & Industry Research has increased its Brent oil price forecasts to 2024, the company's latest oil price outlook has revealed.

OPEC+ Making Headway Share your comments
Thursday, December 03, 2020OPEC+ is making headway in its negotiations on oil-output cuts, raising the odds that Thursday's meeting can salvage a deal after failed talks earlier in the week.


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Exploration

Report Pegs Delaware Basin Drilling Cost at $33 Share your comments
Thursday, December 03, 2020The oil price needed to profitably drill a shale well has fallen by almost a fifth since last year, but that may not be enough to revive production, according to a new report.

EMGS to Mobilize Ship for New GOM Survey Share your comments
Thursday, December 03, 2020Electromagnetic Geoservices (EMGS) has received a letter of award for a 3D CSEM and MT multi-client survey in the Gulf of Mexico.

OGDCL Discovers Gas at Lakhirud X-1 Share your comments
Wednesday, December 02, 2020Oil and Gas Development Company Limited has discovered gas at exploration well Lakhirud X-1, which is located in the Musa Khel district in the Balochistan Province.

CGG Wins Oman Contract Extension Share your comments
Tuesday, December 01, 2020Petroleum Development Oman (PDO) has awarded the geoscience technology firm CGG a three-year contract extension.

ADNOC Dishes Out Deal Worth Up To $519MM Share your comments
Friday, November 27, 2020ADNOC has announced the award of a contract worth up to $519 million to BGP Inc, a subsidiary of China National Petroleum Company.

Baker Hughes Reports US Rig Rebound Share your comments
Thursday, November 26, 2020The number of rotary drilling rigs operating in the United States rebounded this past week, according to Baker Hughes.


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Production

Mexico Cashes In Amid OPEC+ Discord Share your comments
Wednesday, December 02, 2020Mexico reportedly will cash in its oil price insurance policy this year for the fourth time only in the last two decades.

Schlumberger Unit and ABB Finish Pioneering Test Share your comments
Wednesday, December 02, 2020ABB and OneSubsea team members monitor progress on the VSD and compressor submerged string test. PHOTO SOURCE: ABB

Oil Sands Link to US Midwest Gets Final Approval Share your comments
Tuesday, December 01, 2020An Enbridge Inc. pipeline that will help ship more Canadian crude to the US Midwest has received final approval.

Venezuela Oil Exports to China Surge Share your comments
Tuesday, December 01, 2020Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime.

OPEC+ Kicks Off Meeting with Plea for Caution Share your comments
Monday, November 30, 2020OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year.

Libya Oil Comeback Has Legs Share your comments
Friday, November 27, 2020Libya's oil industry, trampled by civil war and chaos, is roaring back.


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Finance and Investing

Seadrill Partners Files Chapter 11 Share your comments
Wednesday, December 02, 2020Seadrill Partners LLC announced Tuesday that it has filed voluntary petitions under chapter 11 of the Bankruptcy Code.

Exxon Faces Historic Writedown Share your comments
Tuesday, December 01, 2020Exxon Mobil Corp. is about to incur the biggest writedown in its modern history.

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.


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Company Operations

Chevron Earmarks $2B for Permian in 2021 Share your comments
Thursday, December 03, 2020Chevron announced a $14 billion capital and exploratory budget for next year.

Halliburton to Deploy New Supply Chain Model Share your comments
Thursday, December 03, 2020Accenture will help Halliburton to accelerate its digital supply chain transformation.

Eni and Enel Partner on Green Hydrogen Share your comments
Thursday, December 03, 2020Eni (NYSE: E) revealed Wednesday that it is working together with Enel to develop green hydrogen projects.

Well Intervention Firm Expands into Saudi Market Share your comments
Wednesday, December 02, 2020Wellpro Group reported Tuesday that it is expanding into the Saudi Arabian oil and gas market.

Petrobras Chief Likens Net Zero to Fad Share your comments
Wednesday, December 02, 2020His stance more or less echoes ExxonMobil and Chevron's.

Conoco Warns of 500 Houston Job Cuts Share your comments
Wednesday, December 02, 2020ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc.


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