Tiny Texas oil driller hyped on Reddit surges 130% in a week
Tiny oil company Torchlight Energy Resources saw its shares more than double in a week after it became the latest stock touted on Reddit as a possible short squeeze.
texas
Trafigura, Braskem ship first carbon neutral naphtha cargo
Trafigura and Braskem have teamed up to deliver the world’s first cargo of carbon-offset naphtha.
Legendary trader sees ‘seismic shift’ in Houston’s oil patch
For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on.
Exxon floats $100bn government-backed carbon capture hub
Exxon Mobil Corp. proposed a giant, $100 billion hub to capture carbon dioxide emissions along the U.S. Gulf Coast in Texas but warned that government funding would be required to pay for and develop it.
BP welcomes huge platform for Mad Dog 2 project to Texas
The Argos platform for the BP-operated $9 billion Mad Dog 2 project has arrived in the US after completing its 16,000-mile journey from South Korea.
Exxon sees up to $800million earnings hit from Texas freeze
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month.
Brent near $64 with Goldman Sachs predicting more gains
Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in coming months.
Weak grids expose risks for the electrification of everything
Home heating systems shutting down. Hospitals facing water shortages. Oil refineries going offline.
Brent near $65 as US crisis provides global supply shock
Brent oil traded near $65 a barrel as a cold blast that’s taken out almost 40% of US crude production morphed into a global supply shock.
Texas oil group vows to limit flaring as state signals crackdown
A coalition of Texas oil industry groups is pledging to end routine flaring of natural gas from wells and other facilities by 2030 amid signs that state regulators may crack down on the controversial practice.
Exxon maintains dividend as oil rally expected to boost cash
Exxon Mobil Corp. kept the S&P 500 Index’s third-largest dividend after this year’s rally in commodity prices eased analysts’ fears that the payout was becoming unaffordable.
Chevron awards Subsea 7 contract for Angola Sanha Lean platform
Subsea 7 has won a contract worth up to $300million for construction of a platform for the Chevron Sanha Lean Gas Connection (SLGC) project off Angola.
Scots firm Sulmara Subsea makes Asia-Pacific expansion
Scottish firm Sulmara Subsea is making an expansion drive into the Asia-Pacific (APAC) with a new office in Singapore.
Diamondback Energy to acquire QEP Resources for $2.2 billion
Diamondback Energy is planning a pair of acquisitions worth more than $3 billion that would strengthen its position in the Midland Basin of West Texas.
North Face accused of ‘virtue signalling’ after refusing to sell jackets to oil company
The North Face has been accused of “counterproductive virtue signalling” after refusing to sell jackets to an oil services company.
Oil bankruptcies rise in the third quarter
The number of bankruptcies in the energy sector rose during the third quarter as the coronavirus pandemic continued to take its toll on the oil and gas industry.
Texas added 700 oil extraction jobs in September, first uptick since the pandemic started
Texas added 700 oil and gas extraction jobs in September, the first uptick since the coronavirus pandemic broke out nationally.
France says ‘non’ to Engie’s US LNG plans
The French government is delaying plans for Engie to secure a deal to import US LNG, citing concerns over emissions.
Rio Grande LNG aims for carbon neutrality with CCS
NextDecade plans to cut CO2 equivalent emissions at its planned Rio Grande LNG facility by around 90%.
Aramco shelves $20 billion petrochemical plan after oil’s crash
Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant’s determination to preserve its dividend despite a crash in energy prices forces it to cut back on major investments.
Most US shale companies to restore production by end of 3rd quarter
By the end of the third quarter, most U.S. oil producers plan to restore nearly all of the production shut down during the oil crash, according to a new report.
Occidental posts $6.6billion charge after oil price crash
Occidental Petroleum Corp. reported a $6.6 billion writedown in the second quarter, equivalent to more than 40% of its market value, as the collapse in energy prices took its toll on the debt-laden U.S. shale oil producer.
Aberdeen oil tourism plan could be ‘resurrected’ with new rig concept, says business leader
Plans for a major Aberdeen oil tourism site from over 30 years ago could be "resurrected" by a new rig idea for the harbour, according to a business leader.
Aberdeen should use decommissioned oil platform as ‘first class tourist attraction’
Aberdeen should use a giant decommissioned oil platform as a "first class tourist attraction", according to a long-standing city campaigner.
Halliburton loses £1.3billion in 2nd quarter
The coronavirus pandemic stung oilfield service company Halliburton with a $1.7 billion (£1.3bn) loss in the second quarter.