Oil

Oil Edges Up Amid Pipeline Outage

Oil prices firmed Friday, supported by a pipeline outage in the North Sea and ongoing cuts by major producers, but higher forecasts for U.S. output in 2018 from major energy groups this week limited gains.<p>Brent crude, the global oil benchmark, rose 0.1% to $63.40 a barrel on London's ICE Futures …

OECD

Oil Prices Edge Up Amid Pipeline Outage

Oil prices firmed Friday, supported by a pipeline outage in the North Sea and ongoing cuts by major producers, but higher forecasts for U.S. output in 2018 from major energy groups this week limited gains.<p>U.S. crude futures recently rose 31 cents, or 0.54%, to $57.35 a barrel on the New York …

OECD

Crude Oil Steadies Amid Sustained U.S. Output Worries

Investing.com - Crude oil prices steadied on Friday, as traders grew more cautious ahead of the weekend, while concerns over rising U.S. shale …

Commodities

U.S. rig count slips by 1 after five straight weekly gains

The total U.S. rig count fell by 1 to 930 following five consecutive weeks of increases, according to the latest survey from Baker Hughes.<p>The oil rig …

Business

Oil Traders Snap Up Bullish Options for $80 Brent Next Year

Oil traders are increasingly betting that Brent crude will climb to $80 a barrel from the middle of next year, as OPEC and its allies prepare for a …

Business

Exclusive: China's CNPC weighs taking over Iran project if Total leaves - sources

BEIJING/LONDON (Reuters) - China's top oil and gas company CNPC is considering taking over Total's (PA:TOTF) stake in a giant Iranian gas project if …

Oil sands price discounts expected to rise as output exceeds pipeline capacity

An RBC report warns that Canadian oil sands producers face rising price discounts as growing production "materially exceeds" export pipeline capacity to the United States in the first quarter of 2018.<p>RBC Dominion Securities says production from the oil sands of northern Alberta is set to climb by …

South Dakota

Panhandle Oil and Gas declares $0.04 dividend

Panhandle Oil and Gas (NYSE:PHX) declares $0.04/share quarterly dividend, in line with previous.<p>Forward yield 0.76%<p>Payable March 8; for shareholders …

Business

US rig count falls by 1 this week to 930, Pennsylvania up 3

The number of rigs exploring for oil and natural gas in the U.S. slipped by one this week to 930.<p>That's well above the 637 rigs that were active this …

Business

Icahn steps up fight against SandRidge's plan to buy Bonanza Creek

(Reuters) - Activist investor Carl Icahn on Friday urged SandRidge Energy Inc’s (SD.N) stockholders to vote against the oil and gas company’s plan to issue shares for its proposed acquisition of Bonanza Creek Energy (BCEI.N).<p>Icahn, SandRidge's biggest shareholder with a 13.5 percent stake, has …

Carl Icahn

3 Top Oil Stocks to Buy in December

Oil prices are up, but oil stocks aren't. That's why investors should take a look at Diamondback Energy, ExxonMobil, and Transocean.<p>Here's something …

Stocks

Oil Bulls, Don't Panic

WTI suffered last week, after larger than expected US refined stocks.<p>Though, net speculative positioning have reached an all-me high, given macro …

Business

Nigeria: Oil Firms Given Two Weeks to Remit U.S.250 Million to Govt

The House of Representatives Committee on Oil and Gas on Thursday gave 10 indigenous oil companies in the country two weeks to remit 250 million …

Indigenous Peoples

News Highlights: Top Energy News of the Day

Oil Edges Up Amid Pipeline Outage<p>Oil prices firmed, supported by a pipeline outage in the North Sea and ongoing cuts by major producers, but higher forecasts for U.S. output in 2018 from major energy groups this week limited gains.<p>Elliott Preps for Potential Fight With Hess, Seeking CEO …

EPA

North Dakota oil production up slightly in October

North Dakota's oil production rose slightly in October and remained above 1 million barrels per day for the ninth consecutive month.<p>The Department of …

Business

Canadian crude oil inventories touch record last week: Genscape

NEW YORK (Reuters) - Crude oil inventories at monitored storage locations in western Canada rose to record levels last week, information provider Genscape said on Thursday.<p>** Inventories rose 941,000 barrels to 31.82 million barrels during the week to Dec. 8, Genscape said<p>** It is the highest level …

U.S. oil drillers cut rigs for first week in six -Baker Hughes

Dec 15 (Reuters) - U.S. energy companies this week cut oil rigs for the first time in six weeks in spite of prices rising close to their highest in …

Oil Heads for Weekly Loss as OPEC Cuts Seen Challenged by Supply

Oil is heading for a third weekly drop as the International Energy Agency and OPEC forecast a boost in supply from outside the producer group next …

West Texas Intermediate

NBC’s Mitchell Paints Iran Threat as Just a Political Ploy By Trump

In a shocking press conference on Thursday, U.N. Ambassador Nikki Haley presented the press an Iran constructed missile that was fired at the Riyadh …

Conservative View

India Petronet signs revised LNG buy deal with Exxon

NEW DELHI, Dec 15 (Reuters) -<p>* India's Petronet LNG PLNG.NS signs revised 1.44 million tonnes a year long-term liquefied natural gas (LNG) purchase …

Exxon Mobil

US industrial production growth hits the brakes in November

December 15, 2017<p>US industrial production growth slowed dramatically in November from the previous month’s advance, as gains in the mining sector …

Economy

‘Both cannot be right’: The biggest voices in oil disagree on the outlook for 2018

The two most critical forecasts of global oil markets offer contrasting visions for 2018: one in which OPEC finally succeeds in clearing a supply …

OPEC

Keane to buy three new hydraulic fracturing fleets

Keane Group (FRAC +0.9%) says it will spend $115M to order three new fracking fleets to prepare for a busy 2018, especially in the Permian Basin.<p>FRAC …

Business

U.S. Oil-Rig Count Fell by Four in Latest Week

The number of rigs drilling for oil in the U.S. fell by four this week to 747, Baker Hughes, a GE company, reported.<p>The U.S. oil-rig count is typically viewed as a proxy for activity in the sector. After peaking at 1,609 in October 2014, low oil prices put downward pressure on production and the …

Markets

Alberta expands monitoring of oilsands gas emissions

EDMONTON - Alberta has begun monitoring oilsands emissions from the sky.<p>The province's environmental monitoring agency is using airborne sensing …

Edmonton

Ineos shuts 110,000 bpd crude unit at Grangemouth refinery: source

LONDON (Reuters) - Ineos has shut the 110,000 barrels-per-day crude distillation unit(CDU) at its Grangemouth oil refinery in Scotland due to a lack …

Commodities

Lebanon: Oil and gas drilling to begin in 2019

Lebanon's energy and water minister says the country will start exploratory offshore drilling for oil and gas in 2019.<p>Cesar Abi Khalil, speaking to …

Business

Quick Take: Foxconn to Buy Stake in Small Oil Producer

Apple Inc.’s major supplier Foxconn Technology Co. Ltd. has agreed to acquire a 24.37% stake in a Hong Kong-listed crude oil producer for HK$1.49 …

News (China)

Gasoline prices heading up in time for the holidays

Roger McKnight, chief petroleum analyst at En-Pro International, joins BNN for a closer look at what Canadian consumers can expect to pay at the gas …

UK Forties oil cargoes delayed for weeks by pipeline shutdown

LONDON (Reuters) - The loading dates of Forties oil cargoes, which help set the global Brent benchmark, have been delayed by at least two weeks and …

North Sea