Oil & Gas Industry

U.S. shale oil and gas sector surges back to life: Kemp

| LONDON<p>The number of rigs drilling for oil and gas in the United States has recorded the largest one-week increase for over five years, confirming a rapid upturn is now underway.<p>The number of active oil and gas rigs jumped by 35 to 694 last week, according to oilfield services company Baker Hughes …

Shale Oil

U.S. Oil Companies Rush Back to Work

And here comes U.S. shale.<p>The Organization of the Petroleum Exporting Countries has only just begun the production cuts it promised to help balance the oil market, and U.S rivals are rushing to fill the gap. They put 29 oil rigs back to work last week, the largest one-week increase in nearly four …

OPEC

Russia beats Saudi Arabia as China's top crude oil supplier in 2016

BEIJING (Reuters) - Russia overtook Saudi Arabia in 2016 to became China's biggest crude oil supplier for the first year ever, customs data showed on Monday, boosted by robust demand from independent Chinese "teapot" refineries.<p>Russian shipments surged nearly a quarter over 2015 to about 1.05 …

Oil

Exclusive: Shell's exploration boss Powell to step down

LONDON (Reuters) - Royal Dutch Shell's (RDSa.L) head of exploration Ceri Powell will step down next month, capping seven years in the role marked by sharp cutbacks in the company's search for new oil and gas reserves amid the industry's deep downturn since mid-2014.<p>Powell, a geologist who joined …

Royal Dutch Shell

The Odd Secret of Iraan, Texas

Driving through West Texas will give you the feeling of endless nothingness. If you want to get rid of some bodies that would never be found, you …

Permian Basin

China And India Curb Enthusiasm For Oil Reserves -- Energy Journal

Here’s your morning jolt of news, insight and analysis on the global energy business. Send us tips, suggestions and complaints: EnergyJournal@wsj.com<p>Sign up for this newsletter: http://on.wsj.com/EnergyJournalSignup<p>AS OIL PRICE CLIMBS, CHINA AND INDIA CURB ENTHUSIASM FOR RESERVES<p>The Wall Street …

Oil

Iraq says most oil majors participating in its OPEC cuts

LONDON (Reuters) - Iraq's oil minister said on Monday that most oil majors working on its territory were participating in oil output reductions agreed as part of the deal between OPEC and non-OPEC producers to help to balance the market.<p>OPEC and several independent producers agreed last year to cut …

Oil

Freeing the U.S. From OPEC No Longer Just a Dream: Bloomberg Government Energy - Bloomberg

Donald Trump took the oath of office Friday amid an ominously darkened sky and hooded anarchists smashing windows in downtown Washington. His …

OPEC

Protesters, Oil Companies Gear Up for Next Round at Standing Rock

CHICAGO—Protesters opposed to the Dakota Access Pipeline are gearing up for a new round of clashes after the inauguration of President Donald Trump. So are oil companies—and the private security firms they have hired to police the protests.<p>Several hundred additional protesters arrived at the main …

Pipelines

Outlook grim for Dakota Access Pipeline activists as Trump pledges to sweep away hurdles in U.S. oil’s way

The Red Warrior Society has left the camp and only a few of the hardiest protesters are still braving the near-Arctic North Dakota weather after …

Press Digest from FN

A round-up of stories making the news this morning...<p>Inflows from European insurers expected to boost asset manager AuMs<br>European insurers are …

Royal Dutch Shell

China oil cut could help OPEC to prop up prices

OPEC's campaign to prop up oil prices is getting unlikely support from its biggest customer.China's production is forecast to fall by as much as 7 …

OPEC

Commodities Round-up: Trump's inauguration speech sees gold spike to two-month high

US President's 'America First' line at his inauguration extended gains in the precious metals market.<p>Precious metals extended gains on Monday (23 …

OPEC

Future of Energy as Seen From a Texas Point of View

The cold wind is blowing, the snow is piling up and the temperatures are plummeting in Wyoming as I write this . . . from Texas, where it is 74 …

OPEC

Oil ends lower as output cuts fail to ease worry about rising U.S. production

Oil futures finished lower Monday as concerns over the potential for a sizable increase in U.S. crude production outweighed support from Saudi Arabia’s energy minister.<p>On the New York Mercantile Exchange, March West Texas Intermediate crude CLH7, -0.73% fell by 47 cents, or 0.9%, to settle at …

OPEC

To Fight Coastal Damage, Louisiana Parishes Pushed To Sue Energy Industry

For a man with a mural of an oil refinery in his office, deciding to sue the oil and gas industry wasn't an easy choice.<p>But it was a necessary one for Guy McInnis, the president of Louisiana's St. Bernard Parish, just south of New Orleans.<p>On a recent day, McInnis stands overlooking Lake Borgne. Now …

Louisiana

Exxon’s Huge Permian Purchase Is Positive for Its Credit Rating - Income Investing

By Amey Stone<p>Last Monday, <b>ExxonMobil</b> (XOM) announced it is spending $5.6 billion this year to buy 250,000 acres of oil producing land in the Permian …

Permian Basin

KKR’s Joulon buys majority stake in Sara Sae

<b>Mumbai:</b> Private equity firm KKR-owned oil and gas asset management services platform Joulon has bought a majority stake in Sara Sae Pvt. Ltd, a …

Business (India)

Asia to open mixed after US stocks closed higher

Futures pointed to a mixed open for Asian equities, after a weekend dominated with Donald Trump inauguration headlines, including plans to possible …

OPEC

Peak Oil Demand Is Deja Vu All Over Again

The current fashionable theme in energy is ‘peak oil demand’ and the accompanying possible stranding of fossil fuel resources, with the resulting damage to the equity value of producing companies. This post will discuss reasons to be wary, at least of some of the arguments. A subsequent post will …

Peak Oil

OPEC Shrugs Off Threat of U.S. Cutting Oil Imports - Bloomberg

OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s …

OPEC

Oil slips as U.S. drilling recovery offsets OPEC-led cuts

NEW YORK (Reuters) - Oil prices fell 1 percent on Monday as signs of a strong recovery in U.S. drilling largely overshadowed news that OPEC and non-OPEC producers were on track to meet output reduction goals.<p>Ministers representing members of the Organization of the Petroleum Exporting Countries and …

OPEC

OPEC, allies says production cuts ahead of schedule

VIENNA (AP) — OPEC and key non-OPEC oil producers are near their target of taking 1.8 million barrels of crude a day off global markets less than two months after agreeing to do so in efforts to push up the price of crude, Russia's energy minister said Sunday.<p>Alexander Novak's upbeat comments to …

OPEC

Oil production, pipelines and tanker routes in 1940.

The world as 100 people over the last 200 years.<p>Europeans are divided along ideological lines in their views of the EU, but this division is not a …

Oil

Oil-Output Cuts Proceeding Faster Than Planned

VIENNA—The Organization of the Petroleum Exporting Countries and Russian officials said Sunday they were making good progress on their pledges to cut back crude-oil production and raise global prices.<p>Saudi Energy Minister Khalid al-Falih said OPEC’s 13 nations and 11 producers outside the cartel …

OPEC

Saudi's SABIC to acquire remaining 50 percent of Shell venture for $820 million

Saudi Basic Industries Corp (SABIC) 2010.SE has signed an agreement to acquire the 50 percent that it does not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell (RDSa.L), for $820 million, SABIC said on Sunday.<p>"As per the partnership agreement between the two …

Oil

Russia's Novak says sees oil price at $50-$60 in 2017: TASS

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak sees global oil prices at between $50 and $60 per barrel in 2017, TASS news agency quoted him as saying on Sunday.<p>According to Interfax news agency, Novak also said that countries involved in a deal between OPEC and non-OPEC oil producers …

Oil

Exxon Mobil Is Biggest Dow Loser Of 2017

The Dow (DJIA) has barely moved this year, up .33% to 18,927.25, undermining ambitions that it will reach 20,000. Among the Dow stocks, the largest …

Permian Basin

Buffett’s Berkshire Buys German Pipe Company, Handelsblatt Says - Bloomberg

One of Warren Buffett’s largest units at Berkshire Hathaway Inc. agreed to buy Wilhelm Schulz GmbH, a closely held German maker of piping components, …

Warren Buffett

The Oil Mafia Meets As 'Big Risk' Emerges In Crude Market

On Sunday, OPEC and non-OPEC producers met in Vienna to discuss compliance with the production cut deal(s).<p>Here are all the headlines from the …

Oil