Oil & Gas Industry

OPEC, non-OPEC committee recommends extending output cut by six months

KUWAIT (Reuters) - A joint committee of ministers from OPEC and non-OPEC oil producers recommended extending by six months a global deal to reduce oil output, a draft press release from their meeting on Sunday showed.<p>OPEC and rival oil producers are meeting in Kuwait to review progress with their …

OPEC

Libya's Biggest Port Loading First Oil Tanker Since Clashes - Bloomberg

Libya’s biggest oil terminal is loading its first tanker since fighting between armed groups earlier this month halted shipments from two ports in …

Oil

Oil rebound pushes drilling rigs deeper into Colorado neighborhoods

Oil and gas producers in the Denver-Julesburg Basin were forced to take two steps back after oil prices cratered in late 2014. But they are preparing …

Oil

Transocean Battens Down The Hatches

RIG sold $1.4B in rig assets to Borr.<p>It protects liquidity and unloads newbuilds that it might not need.<p>With oil sub-$50, capex might not return to …

Offshore Drilling

OPEC Be Warned: Russia Battens Down the Hatches for Oil at $40 - Bloomberg

Perhaps the Bank of Russia knows something the world doesn’t.<p>As the Organization of Petroleum Exporting Countries and its allies prepare to meet for …

Oil

Which US States Produce the Most Shale Oil?

While fracking unlocked an unimaginable supply of shale gas and oil, the boom in oil wells is heavily concentrated in just four U.S. states.<p>Believe …

Permian Basin

OPEC Out Of Moves As Goldman Sachs Expects Another Oil Glut In 2018

Oil prices are heading down again on swelling U.S. crude oil inventories, with Brent dropping below $50 per barrel for the first time this year.<p>The …

Oil

US oil rig count jumps for 10th straight week, Baker Hughes says

The US oil-rig count spiked by 21 to 652 this week, according to oilfield-services giant Baker Hughes.<p>That's the highest total count since the week of September 11, 2015.<p>The gas-rig count fell by two to 155. One miscellaneous rig was added to the only other one in use, taking the combined count of …

Oil

California just put serious limits on methane leaks

Things aren’t good at the federal level, but progress on methane leaks march forward.<p>The California Air Resources Board voted unanimously on Thursday …

Environment

Where Is Oil Found In The US? Drilling And Exploration On Federal Lands Opposed By Most Americans

The proportion of Americans who believe federal lands, such as national parks and forest reserves, should be protected from oil drilling and …

OPEC

Where We Drill, We Spill: Commemorating Exxon Valdez

By Franz MatznerTwenty eight years ago today the world experienced a massive wake-up call on the hazards and harms of oil spills when the Exxon …

Offshore Drilling

Colorado Youth Score Decisive Legal Victory Against Fracking Industry

A group of Colorado teenagers scored a "huge" victory against the state's fracking industry on Thursday when a three-judge panel ruled that the …

Environment

Iraqi oil minister: market is decisive factor in possible cut extension

KUWAIT (Reuters) - Iraqi Oil Minister Jabar Ali al-Luaibi said on Saturday the market is a decisive factor in deciding whether to extend an agreement …

Oil

New Schlumberger Venture Takes Aim at Toppling King of Fracking - Bloomberg

Schlumberger Ltd. and Weatherford International Plc are forming a joint venture aimed at taking on the king of fracking, Halliburton Co.<p>Schlumberger, …

Oil

My Advice To Oil & Gas Young Professionals, Fresh Grads, And Students

Yesterday, I received a message from one of my followers on LinkedIn -a Brazilian student taking a petroleum engineering course- asking about my …

Oil

Report: Sale of Shell Martinez refinery progressing

MARTINEZ — The owners of the Shell Martinez Refinery are in talks with at least two potential buyers of the 102-year-old facility, several months …

Oil Refineries

Oil futures up as Donald Trump approves Keystone XL pipeline

US president greenlight's controversial 4th phase of pipeline, rejected by President Barack Obama in 2015.<p>Oil benchmarks registered modest gains on …

Oil

Geologist for Shell says company hid Nigeria spill dangers

JOHANNESBURG (AP) — Royal Dutch Shell's Nigeria subsidiary "fiercely opposed" environmental testing and is concealing data showing thousands of Nigerians are exposed to health hazards from a stalled cleanup of the worst oil spills in the West African nation's history, according to a German …

Royal Dutch Shell

All Drill, No Pump: Oil Producers Are Leaving Thousands of U.S. Wells Unfinished

U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the …

Permian Basin

This Is How Many Barrels of Oil the 13 OPEC Countries Produced Last Month

OPEC continues to control a huge portion of global oil. Here's a look at just how much.<p>The Organization of the Petroleum Exporting Countries, or …

Oil

OPEC, Allies Meet as Oil Market Warns Them: Job's Not Done - Bloomberg

OPEC and allies reviewing the impact of their oil cuts this weekend face a market with an unambiguous message: their work is far from done.<p>As …

Oil

OPEC's Oil-Production Cut Faring Worse than 2008-09 Effort

Here’s how badly OPEC’s production cut is doing: So far, it appears to be less effective at raising oil prices than even the cartel's widely panned action in 2008 during the financial crisis.<p>In the first 79 days of trading since the Organization of the Petroleum Exporting countries struck a deal to …

Oil

Oil recovery trouble spot: Laid-off workers and hiring managers aren't on the same page

Oil and gas professionals and the managers who hire them have very different expectations about how a recovery in the hard-hit industry will play …

BP

Shell Oil Spill Led To Lingering Pollution In Nigeria---Energy Journal

Here’s your morning jolt of news, insight and analysis on the global energy business.<p>Send us tips, suggestions and complaints: EnergyJournal@wsj.com<p>Sign up for this newsletter: http://on.wsj.com/EnergyJournalSignup<p>SHELL OIL SPILL LED TO HIGH POLLUTION IN NIGERIA<p>Royal Dutch Shell PLC oil spills that …

Oil

Premarket: Vote on Trump health-care plan worries world stocks, U.S. dollar

All eyes in global financial markets were fixed on stuttering Republican efforts to pass a replacement for Obamacare on Friday, with failure likely to undermine faith in Donald Trump’s promise to deliver a “phenomenal” U.S. tax reform.<p>Tuesday’s first 1 per cent daily fall on Wall Street since …

OPEC

Peak Oil? Sooner Than You Think

<i>Will the Oculus bite into oil demand?</i><p><i>The London-based investment advisory firm Redburn thinks that global demand for oil could peak around 2026,</i> …

Oil

Oil gains for the day, but suffers 3rd weekly loss in a month

Oil prices finished slightly higher Friday, but logged their third weekly loss in a month.<p>Traders continued to weigh signs of OPEC-led cutbacks in global crude production ahead of a meeting of oil producers this weekend, against data pointing to the likelihood of further gains in U.S. output.<p>May …

Oil

Gordon MacIntyre-Kemp: Why is Norway still getting much more tax from oil?

The oil sector and their representative bodies make overreaching claims about the difference in one part of the north sea verses another and will …

BP

Oil Stocks: A Good Time To Buy

The total crude oil and refined product inventory cycle is near peak buildup.<p>ExxonMobil and other oil-major share prices are influenced by this …

Oil

U.S. health care; OPEC meeting; Electronics ban

<b>London (CNN) —</b> <b>1. Health care vote:</b> President Trump wants a deal.<p>House Republicans have so far failed to secure the votes needed to pass a health care bill that would repeal major portions of Obamacare.<p>Now, Trump has issued an ultimatum: If they don't vote yes on Friday, he will move on and saddle …

OPEC