Analysis & Trends News

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Exxon Plans Below Inflation USA Pay Raises
Friday, December 03, 2021Exxon's salary raises come after a difficult two-year period for the company and its employees.

Oil Traders Stampede to Exit
Friday, December 03, 2021Oil traders and investors are shutting down their books at a rapid pace.

Ex-BP Rep Becomes Chesapeake EVP and CFO
Friday, December 03, 2021For the last six years, Singh has served on the executive leadership team of BPX Energy, the United States onshore subsidiary of BP.

Bears Out in Full Force This Week
Friday, December 03, 2021Rigzone's regular market watchers look at the emergence of a bear market, the Omicron Covid variant, OPEC+'s recent decision and more.

Winter May Spark Gas Storage Crisis in Europe
Friday, December 03, 2021European gas inventory is unusually low for this time of year, and it's being drawn down more quickly than usual too.

What Could Omicron Cost Global Oil Market?
Friday, December 03, 2021What could the new Covid variant mean for the global oil market?

Turkey Vows to Stop Exxon Venture Drilling Off Cyprus
Friday, December 03, 2021Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone.

Shell Pulls Out of Cambo
Friday, December 03, 2021Siccar Point is now in discussions with its contractors, supply chain and wider stakeholders to review options for the development.

OPEC+ Sticks to Planned Supply Hike
Thursday, December 02, 2021The group agreed to add 400,000 barrels a day of crude to global markets in January.

BofA Still Bullish on Oil Despite Omicron
Thursday, December 02, 2021Bank of America is sticking to its $85-a-barrel forecast.

South Africans Get Respite After Fuel Price Flub
Thursday, December 02, 2021South Africans finally got a sliver of good news.

Ex-ExxonMobil Leader Appointed Lundin Energy Norway MD
Thursday, December 02, 2021Kristin Faerovik will retire from her position on December 31.

ConocoPhillips Completes $9.5B Shell Deal
Thursday, December 02, 2021The assets include around 225,000 net acres and producing properties located entirely in Texas.

Cenovus in $500MM+ Deal
Thursday, December 02, 2021The agreements allow Cenovus to further focus its portfolio, accelerate deleveraging and support increasing shareholder returns.

Shale Drillers to Lift USA Spending 19 Percent
Thursday, December 02, 2021Expenditures will rise to $83.4 billion in 2022, the highest since the Covid-19 pandemic emerged.

Ex-FIFA Ref Gets Aberdeen Uni ET Director Role
Thursday, December 02, 2021Underhill used to be a professional football referee on the FIFA circuit.

Petrobras Sees More Oil Field Sales
Wednesday, December 01, 2021Brazil's state-controlled oil company plans to continue selling off its least profitable oil fields.

OPEC+ Meets to Debate Output Boost
Wednesday, December 01, 2021Ministers have been tight lipped about their intentions.

RRC Adopts New Critical Designation Rules
Wednesday, December 01, 2021The new rules implement provisions in House Bill 3648 and Senate Bill 3.

CNOOC Deregisters With SEC
Wednesday, December 01, 2021CNOOC Limited (TSX: CNU) announced Tuesday that it intended to deregister with the United States Securities and Exchange Commission.

TotalEnergies Launches Texas Biomethane Unit
Wednesday, December 01, 2021The biomethane will be used as an alternative fuel for mobility.

Newfoundland Refinery Gets New Life
Wednesday, December 01, 2021The idled Come By Chance refinery in Newfoundland and Labrador will be transformed into a green diesel plant.

Shale Output Discipline Begins to Pay Off
Wednesday, December 01, 2021Publicly listed oil producers have drastically changed their business model since Covid-19.

Aramco Awards Deals Worth $10B
Wednesday, December 01, 2021The deals comprise 16 subsurface and engineering, procurement and construction contracts.

Shell Won't Abandon Green Transition in Face of High Oil Prices
Tuesday, November 30, 2021Shell is adhering to its energy transition strategy.

Gazprom Reports Record 3Q Profit
Tuesday, November 30, 2021Net income rose to 581.8 billion rubles ($7.8 billion) compared with a net loss a year ago.

Flooded BC Extends Fuel Rationing Ahead of Storm
Tuesday, November 30, 2021Parts of British Columbia are still struggling with damage from floods and landslides that closed highways and railways two weeks ago.

Saipem Signs New Deal Worth Around $750MM
Tuesday, November 30, 2021Saipem's latest deal is one of multiple several hundred million dollar contracts announced in November.

New Gas Discovery Offshore Malaysia
Tuesday, November 30, 2021PTTEP commenced the drilling of Nangka-1 in June.

What Can We Expect From OPEC+?
Tuesday, November 30, 2021OPEC+ is scheduled to meet in the coming days.

USA Proceeds with SPR Release Despite Price Drop
Tuesday, November 30, 2021"We are not reconsidering," White House Press Secretary Jen Psaki told reporters.

Trader Super-Cycle Belief Has Been Dented
Tuesday, November 30, 2021Without that belief, the likelihood of prices regaining $85 per barrel quickly appears limited.

Biden Says USA Gas Prices Will Drop Soon
Monday, November 29, 2021Americans will see prices at the pump fall "before long".

OPEC+ to Discuss Omicron Response This Week
Monday, November 29, 2021Crude futures sank more than 10 percent in both London and New York on Friday amid fears that Omicron could hit demand.

North America Rig Count Rises
Monday, November 29, 2021Six of the weekly additions came from the U.S. in the form of land rigs.

CMA Refers CHC Deal for In-Depth Investigation
Monday, November 29, 2021In September, CHC Helicopter Group announced the completion of its acquisition of Babcock International's offshore oil and gas aviation business.

Trans Mountain Gives Pipeline Update
Monday, November 29, 2021Trans Mountain Corporation has made 'considerable progress'.

Saudi Energy Minister Not Concerned About Omicron
Monday, November 29, 2021OPEC+ meets Thursday to decide on January output.

Continued Oil Price Reduction Commentary Expected
Monday, November 29, 2021Rigzone's regular energy prognosticators look at expected U.S. Government moves, OPEC+ reactions and more.

Oil Rebounds as Traders Size Up Covid Threat
Monday, November 29, 2021Brent rallied, climbing along with West Texas Intermediate, after the global benchmark posted the seventh largest ever dive in last week's final session.

Top Headlines: BP Goes on Hydrogen Hiring Spree and More
Saturday, November 27, 2021Check out some of Rigzone's top stories this week.

Oil Crashes as New Covid Variant Roils Markets
Friday, November 26, 2021Both benchmarks tumbled on Friday with the emergence of the new variant.

Wood Bags Deal for Largest Turkey Gas Reserve
Friday, November 26, 2021The Sakarya Gas Field has a confirmed capacity of 405 billion cubic meters, or 14 trillion cubic feet, of natural gas.

Energy Aspects Says Oil Overreacting to Covid News
Friday, November 26, 2021The material hit to demand is likely about 15,000 barrels a day, chief oil analyst Amrita Sen said.

Parkland Pausing Burnaby Refinery Processing Ops
Friday, November 26, 2021The decision was made in response to the "ongoing crisis" in British Columbia.

SPR Release Symbolic and Political
Friday, November 26, 2021Rigzone's regular market watchers look at the effects of the U.S. Strategic Petroleum Reserve release, rig count trends, potential price spikes and more.

Shell Sees Major Potential for SAF in Asia
Friday, November 26, 2021Alternative aviation fuel, which can be made from feedstocks including algae and cooking oil, is still a lot more expensive than traditional jet fuel.

China On Board With Oil Release
Friday, November 26, 2021China's ambiguity on whether it will join the U.S.-led coordinated release of oil reserves is aimed at a domestic audience.

VIDEO: Neptune Completes Seagull Manifold Installation
Friday, November 26, 2021Working under the Neptune Energy Alliance Agreement, TechnipFMC undertook the construction activities on the development.

Halliburton Unit Hired to Plug Delta Spill
Thursday, November 25, 2021Halliburton's Boots & Coots unit has been called in by independent producer Aiteo Eastern E&P Co. to contain a leak.