Top officials from 75 U.S. companies descended on the U.S. Capitol Thursday to try and convince lawmakers to support the creation of a carbon price to reduce greenhouse gas emissions.
Oil started the week strongly after Saudi Arabia and other OPEC+ members signaled intentions to keep supplies constrained for the rest of the year, while U.S. tensions with Iran ratcheted up as President Donald Trump threatened the country in a tweet.
As the global industry assembles in Houston for the Offshore Technology Conference, it will be in the midst of a quiet American revolution.
Moss Creek Resources recently set a new record for drilling a well in the Permian Basin, the onshore resource that has dramatically transformed the fortunes of the US oil and gas industry.
The US said on Monday that it won’t extend the sanctions waivers for eight countries importing crude oil from Iran. The move could remove around 1.1 million barrels per day from the market.
Oil pulled back from a six-month high as an industry report signaling a gain in U.S. crude inventories partly offset concerns over America’s campaign to halt Iranian exports.
Oil extended gains after leaping to a six-month high on Monday as the U.S. said it’ll no longer give any buyer of Iranian crude a waiver from sanctions aimed at cutting the OPEC producer’s exports to zero.
Lower prices for hydraulic fracturing services in North America continue to sting Houston-based Halliburton, the second largest oilfield service company in the world.
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Six months after the U.S. rocked oil markets by letting Iranian exports continue, its decision to end sanctions waivers that allowed shipments is also set to reverberate across the globe.
Shell has announced it will sell its interest in an offshore field in the US Gulf of Mexico for £738million.
Higher crude prices should encourage North Sea oil companies to dial down the caution and bring forward more new projects, a prominent petro-economist said yesterday.
The complex web of U.S. pipelines, tanks and export terminals that’s helped make America the world’s top oil producer is causing a headache for some crude buyers.
The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico.
The world’s biggest oilfield service companies are feeling the U.S. fracking slowdown as shale producers slash spending forecasts. But Halliburton Co. may be bearing the brunt of the pain while arch-rival Schlumberger Ltd. benefits from its bigger internationally footprint.
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency.
North American oil and gas bankruptcies fell to just 43 filings in 2018, down from 70 a year prior, according to the law firm Haynes and Boone.
Oil’s taking a breather after bursting into a bull market on growing optimism over OPEC cuts, U.S.-China trade talks and the Federal Reserve’s interest rate policy.
This promises to be a weird year, one where massive uncertainties abound; any one of which could derail current efforts to sustain substantial oil and gas output from the UK Continental Shelf.
Brent crude oil averaged $72 per barrel (b) in 2018, and West Texas Intermediate (WTI) averaged $65/b in 2018.
Kevin McIntyre, a commissioner and former chairman of the top U.S. energy regulator, has died.
The growth of the Gulf Coast’s liquefied natural gas industry is set to accelerate in 2019 as at least three major projects are expected to get the go-ahead from developers.
Oil prices rallied on the first trading day of 2019 as U.S. equities recovered from early losses and amid signs that Middle Eastern producers were fulfilling a pledge to cut exports.
Oil prices will stabilise over the coming weeks as cuts agreed by OPEC kick in, an analyst has said.
A former lobbyist who has played a leading, behind-the-scenes role at the Interior Department driving Trump administration policies to expand drilling and strip wildlife protections is poised to take over the agency at least temporarily.