Industry Trends ///
Oil traded near $54/bbl after the U.S. boosted drilling rigs to the most since October 2015, keeping prices in a tight range amid speculation the country’s output may rise and counteract OPEC production cuts.
Well Control School (WCS) is announcing an alliance with Drilbert Engineering to provide advanced technical drilling operational training for the oil and gas industry.
Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves.
Oil will stabilize around $55 to $65/bbl as OPEC fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, the Middle East head of Lukoil PJSC said.
The chairmen of the Texas House and Senate energy committees filed two concurrent resolutions this week calling on the federal government to work with Texas in unraveling the harmful, overreaching regulations that have been implemented over the past eight years, which were largely aimed at negatively impacting the oil and gas industry.
Saudi Arabia is seeking ways to boost foreign investment in its bourse, almost two years after easing access to the one of the world’s most restricted exchanges.
Total has signed an agreement for the sale of stakes and the transfer of operatorship in various mature assets in Gabon to Perenco. The transaction is subject to approval by the authorities.
Oil has been bound to the tightest price range in more than a decade, and yet hedge funds have never been so confident it will eventually rally.
The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets.
The United States is expected to become a net exporter of natural gas on an average annual basis by 2018, according to the recently released Annual Energy Outlook 2017 (AEO2017) Reference case. The transition to net exporter is driven by declining pipeline imports, growing pipeline exports, and increasing exports of liquefied natural gas (LNG).
Colorado Petroleum Council Executive Director Tracee Bentley urged the U.S. Senate to follow the House and support a disapproval resolution on the Bureau of Land Management’s (BLM) Methane and Waste Prevention rule because the flawed rule doesn’t improve upon U.S. successes in methane emissions reductions and could negatively impact American consumers, local revenues and energy security.
Another week, another record for U.S. crude exports.
OPEC pumped at will the past two years to defend its turf against rivals. Its recent volte-face has left it contending with additional threats in the world’s biggest oil market.
Offshore wind companies have spent years struggling to convince skeptics that the future of U.S. energy should include giant windmills at sea.
Oil traded near the highest level since July 2015 as a drop in U.S. crude imports signaled that OPEC’s output cuts are taking effect.
Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple Inc. twice, and still have room for Google parent Alphabet Inc.
Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers.
European oil majors given a taste of Brazil may soon be ready for more.
Exxon Mobil Corp. disclosed the deepest reserves cut in its modern history as prolonged routs in oil and natural gas markets erased the value of a $16-billion oil-sands investment and other North American assets.
The companies that own the rights to Leviathan, Israel’s largest natural gas reservoir, approved a plan to allocate $3.75 billion to develop the offshore site. Israel’s main gas equity index rose the most in almost five months.