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Texas Deepwater Oil Export Projects Stall

Texas Deepwater Oil Export Projects Stall

Four projects were planned offshore…

Energy / Crude Oil

Exxon And Chevron Post Blockbuster Earnings Amid Oil Price Rally

Oct 29, 2021 at 14:04 | Tom Kool

It was supposed to be a blockbuster quarter for energy names thanks to the ongoing surge in oil prices and it did not disappoint: earlier today Chevron reported…

Oil To Close Month With 10% Gain Amid Energy Crunch

Oct 29, 2021 at 10:06 | Tsvetana Paraskova

Oil prices were set early on Friday to end the month of October with a 10-percent gain as the global energy crunch and rebounding demand have reduced inventories and tightened…

OPEC+ Now Sees Smaller Oil Market Deficit In Q4

Oct 29, 2021 at 09:06 | Tsvetana Paraskova

The OPEC+ group now expects the oil market to show a deficit of just 300,000 barrels per day (bpd) in the fourth quarter, down from initial expectations of a 1.1-million-bpd…

California Is Aggressively Pursuing A Future Without Oil

Oct 28, 2021 at 16:01 | Felicity Bradstock

Last week, California’s Democrat Governor Gavin Newsom proposed a 3,200-foot buffer zone between oil and gas wells and homes, schools, hospitals, and other populated areas across the whole…

Why U.S. Gulf Coast Crude Inventories Are Suddenly Jumping

Oct 28, 2021 at 10:05 | Charles Kennedy

Oil inventories on the U.S. Gulf Coast have grown to the highest in about ten years, adding 20 million barrels since the beginning of the month. The increase is due…

Oil Retreats On Rising U.S. Crude Stockpiles, Iranian Nuclear Talks

Oct 28, 2021 at 08:59 | Tsvetana Paraskova

Oil prices fell early on Thursday to their lowest level of the past two weeks, after U.S. commercial crude stocks rose more than expected and Iran said the nuclear talks…

Exxon Is By Far The Best Bet On Guyana’s Offshore Oil Boom

Oct 27, 2021 at 12:12 | Matthew Smith

Global energy supermajor ExxonMobil is one of the few Western energy companies to invest in developing Guyana’s burgeoning oil industry. Since making the first high quality oil discovery…

Alaska’s Oil Renaissance Stumbles Despite Rise In Crude Prices

Oct 27, 2021 at 11:48 | Haley Zaremba

As the United States slowly begins to recover from the economic low-point of the pandemic, some states are getting left behind. Jobs numbers…

Pipeline Leak Disrupts Libya’s Oil Exports

Oct 27, 2021 at 10:51 | Julianne Geiger

Libya’s Es Sider pipeline has a major leak that will require a 7- 10-day shutdown for maintenance, NOC reported on Wednesday. The news comes on the back of Tuesday’s report…

Crude Build Puts The Brakes On The Oil Price Rally

Oct 27, 2021 at 09:38 | Irina Slav

Crude oil prices retreated today after the Energy Information Administration reported an inventory build of 4.3 million barrels for the week to October 22. This compared with a…

OPEC+ Ready To Risk Higher Prices

Oct 27, 2021 at 09:05 | Charles Kennedy

OPEC+ is ready to risk prices going higher and affecting demand rather than add more supply to curb the upward potential of benchmarks, Reuters’ John Kemp wrote in a…

A Global Oil Shortage Is Inevitable

Oct 26, 2021 at 16:53 | Tsvetana Paraskova

Chronic underinvestment in new oil supply since the 2015 crisis and the pressure on oil and gas companies to curb emissions and even “keep it in the ground”…

Money Managers Are Throwing Their Weight Behind The Oil Price Rally

Oct 26, 2021 at 11:24 | Irina Slav

The prospect of Brent crude reaching $90 per barrel is becoming increasingly realistic, and West Texas Intermediate yesterday…

Aramco CEO: Underinvestment In Oil Is A ‘’Huge Concern’’

Oct 26, 2021 at 10:03 | Charles Kennedy

Crude oil production capacity is dwindling globally, and more investments in new production are needed urgently, Aramco's chief executive told Bloomberg. "It's a huge concern," Amin Nasser said, adding that…

Saudi Oil Minister: OPEC+ Shouldn't Rush To Boost Production

Oct 25, 2021 at 09:36 | Irina Slav

OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices, Saudi Arabia’s oil minister Abdulaziz bin Salman told Bloomberg in an interview. Bin Salman…

Oilfield Service Companies Can’t Catch A Break

Oct 22, 2021 at 13:59 | Haley Zaremba

Unless you’ve been living under a rock, you’re probably well aware that oil and gas prices are skyrocketing around the United States and around the world. As the…

Putin: Not All OPEC+ Producers Can Ramp Up Output Quickly

Oct 22, 2021 at 09:08 | Tsvetana Paraskova

Although the OPEC+ alliance is currently ramping up its collective crude oil production slightly above what they had agreed on, not all members of the group can quickly raise their…

Canada’s Oil Industry Is Facing Resistance On All Fronts

Oct 21, 2021 at 11:39 | Felicity Bradstock

According to the International Energy Agency (IEA), Canadian oil is set to decline within the next decade. That has not stopped funding from flooring into new projects however…

Venezuela’s Crumbling Oil Industry Is An Environmental Time Bomb

Oct 21, 2021 at 11:35 | Matthew Smith

Venezuela’s profound economic and humanitarian crisis fails to attract the headlines it once did, particularly after the U.S. recognized interim president Juan Gauido’s May 2019 uprising failed. While…

Oil Rebounds On Surprise Crude Inventory Draw

Oct 20, 2021 at 09:38 | Irina Slav

A week after it reported a sizeable oil inventory build that pushed prices lower for a while, the EIA today said crude oil had last week shed 400,000…

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