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Energy / Crude Oil

Oil Prices Spike On Lower Than Expected Inventory Build

Mar 29, 2017 at 10:11 | Irina Slav

Amid supply disruptions in Libya and strengthening expectations of an OPEC production cut extension, the Energy Information Administration reported commercial oil inventories in the U.S. had gone up by…

Dakota Access Pipeline Loaded And Ready For Business

Mar 28, 2017 at 11:57 | Irina Slav

The Dakota Access pipeline is ready to start shipping crude oil from North Dakota’s Bakken play south to Illinois, project operator Energy Transfer Partners said in a regulatory filing…

Oil Companies Bet Big On This Mature Oil Play

Mar 28, 2017 at 11:05 | Dave Forest

Historic week in the oil and gas industry. With one of the world’s most well-known exploration destinations unveiling a slate of next-generation projects. The U.K. offshore. Late last week, the…

Will The Oil Price Slide Lead To A Credit Crunch For U.S. Drillers?

Mar 27, 2017 at 15:09 | Tsvetana Paraskova

The recent drop in oil prices, which has almost wiped out the price gains since OPEC announced its supply-cut deal, is coming just ahead of the spring season when banks…

Shell’s New Permian Play Profitable At $20 A Barrel

Mar 24, 2017 at 17:11 | Rakesh Upadhyay

OPEC’s worries about the booming U.S. oil production have increased significantly with the big three oil companies’ interest in shale. Exxon Mobil Corp., Royal Dutch Shell Plc, and Chevron Corp.,…

Mexico Sees Its First International Offshore Drilling Success

Mar 24, 2017 at 17:05 | Nick Cunningham

Italian oil company Eni drilled the first well by an international oil company in Mexican waters, and on March 23 they said the well indicated a “meaningful” volume of oil.…

Are The Survivors Of The Offshore Bust A Buy?

Mar 24, 2017 at 15:26 | Dan Dicker

I know that many of the oil analysts out there have gone weak on me. Unable to believe in the inevitable re-balancing of the oil market, they continue to see…

OPEC In Trouble As Saudis Becoming Weary Of “Free Riders”

Mar 23, 2017 at 16:16 | Gregory Brew

From casual observation, one might be forgiven for referring to the OPEC production cut in place since November 2016 as the “Saudi production cut.” That’s because Saudi Arabia, OPEC’s leading…

PetroChina Mulls $85 Billion Spinoff

Mar 23, 2017 at 11:09 | Irina Slav

PetroChina may be considering a spinoff for its oil and gas pipeline business, which could be worth as much as $85 billion, according to investment analysts. The suggestion has…

Crude Inventory Build Sends Oil Prices Into A Nosedive

Mar 22, 2017 at 10:01 | Irina Slav

Amid growing worry about the direction that oil prices are heading into, the Energy Information Administration reported a 5-million-barrel build in U.S. commercial oil inventories for last week, bringing…

A Sign Of Slowing Demand? Chinese Refiners Reach Crude Import Quota

Mar 21, 2017 at 12:12 | Irina Slav

China’s independent refiners known as teapots have used up the amount of imported crude that the government allocated to them in January, which means imports are likely to slow down…

Iran Continues To Ignore The OPEC Deal

Mar 14, 2017 at 15:27 | Ron Patterson

All data below is in thousand barrels per day and is through February 2017. (Click to enlarge)OPEC crude oil production…

U.S. Shale Faces A Workforce Shortage

Mar 13, 2017 at 15:43 | Irina Slav

A problem for the U.S. shale oil and gas industry that analysts and observers have warned about for a long time has materialized: there is a shortage of workers. According…

Huge Oil Find Could Save Alaska’s Oil Sector

Mar 10, 2017 at 13:30 | Nick Cunningham

Spanish oil firm Repsol SA just announced the largest onshore oil discovery in the U.S. in three decades, a 1.2 billion barrel find on Alaska’s North Slope. Repsol has…

What’s In Store For U.S. Shale Oil?

Mar 10, 2017 at 13:25 | Ron Patterson

(Click to enlarge)The future output from the light tight oil (LTO) sector of the U.S. oil industry is the subject of much…

The Bakken Gets A Second Wind

Mar 10, 2017 at 11:45 | Ron Patterson

North Dakota has published January production data for the Bakken and for all North Dakota. (Click to enlarge)Bakken…

Iran And Iraq To Ramp Up Oil Production Despite OPEC Cuts

Mar 09, 2017 at 17:54 | Rakesh Upadhyay

Though OPEC has managed to achieve a high standard of compliance, it has mostly been due to the oversized cut by the largest member of the group—Saudi Arabia. Meanwhile,…

U.S. Refiners Look Abroad As Domestic Competition Increases

Mar 09, 2017 at 15:01 | Irina Slav

U.S. oil refiners are going global. That’s the message that has been coming from the industry over the past year when a lot of refining capacity abroad was shut down…

Harold Hamm: U.S. Shale Spending Binge Could Destroy Oil Market

Mar 09, 2017 at 10:35 | Tsvetana Paraskova

In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market.…

Shell Sells Almost All Canadian Oil Sands Assets

Mar 09, 2017 at 09:30 | Irina Slav

Shell has struck a deal to sell all its oil sands production assets in Canada, except for a 10-percent stake in the Athabasca Oil Sands Project, as part of…

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