Crude could return to $100/bbl because the two-year market downturn has curbed investment, according to Lukas Lundin, a member of Lundin Petroleum AB’s board and chairman of Lundin Mining Corp.
Petroleos Mexicanos’ deteriorating finances are poised to get much worse, signaling no end in sight to years of declining oil production.
Woodside Petroleum Ltd. expects lower LNG prices as it renegotiates short-term contracts and says buyers across Asia will increasingly resist deals that restrict the reselling of the super-cooled fuel.
The worst may be yet to come for some strained oil services companies as $110 billion in debt, most of it junk rated, creeps closer to maturity.
Oil dropped to a three-month low in New York amid speculation that U.S. fuel stockpiles increased, bolstering a glut in the world’s biggest crude-consuming nation.
Making strategic long-term investments, and pooling resources from within the oil and gas industry is central to energy sector progress, said senior officials at a recent gathering of the Middle East Petroleum Club (MEPC) in Abu Dhabi.
Oil closed at the lowest level in more than two months in New York as the dollar rose against its peers and global crude markets were deemed comfortably supplied despite threats to output.
Oil retreated after a government report showed U.S. crude stockpiles dropped by less than expected.
Natural gas exports from the U.S. Gulf Coast will reach buyers in Asia and South America faster and at lower costs thanks to an expanded Panama Canal that could see 550 tankers a year by 2021.
Commodity investors aren’t letting the shock of Brexit spoil their best three months since 2010.
U.S. natural gas futures surged to the highest level in 10 months amid forecasts for sweltering heat and on speculation that a series of pipeline disruptions will curb supplies in the market.
For the top 50 largest U.S. E&P companies, revenues and capital expenditures dropped 41% during 2015—the first year since 2004 that EIA-posted monthly WTI spot prices averaged below $60/bbl for the entire 12 months.
U.S. exports of shale gas stand to increase confidence in the fuel as a long-term energy source, while giving Europe the chance to diversify its natural gas supplies, Norway Petroleum and Energy Minister Tord Lien said Wednesday.
Donald Trump is poised to give his first substantive energy policy speech in North Dakota, a state eager to hear how he can help the industry recover from the worst downturn in a generation.
Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action.
After three years of spin-offs and asset sales from Brazil to California, Occidental Petroleum Corp. is ready to start growing again, said CEO Vicki Hollub.
Today the Petroleum Services Association of Canada (PSAC), in its second update to the 2016 Canadian Drilling Activity Forecast, announced it revised the forecasted number of wells drilled (rig releases) across Canada for 2016 to 3,315 wells.
API called on the administration to maintain and promote U.S. oil and natural gas development through the Bureau of Ocean Energy Management's (BOEM) 2017-2022 offshore program, API Group Director of upstream and industry operations Erik Milito said today in a briefing with journalists.
Major OPEC and other crude producers will meet in Russia, possibly next month, in a new push to agree on an output freeze to shore up oil prices, Iraq’s Deputy Oil Minister Fayyad Al-Nima said.
In response to continued low oil prices, onshore crude oil production in the Lower 48 states is expected to decline from an average of 7.41 MMbpd in 2015 to 6.46 MMbpd in 2016, and to 5.76 MMbpd in 2017. Increased production from the federal Gulf of Mexico (GOM) is not enough to offset those declines.