BPX employs a strategy that’s “a little bit country, a little bit rock and roll” to maximize assets across the portfolio, especially in the Eagle Ford, says Shawn Holzhauser, vice president for development.
Black Stone Minerals entered into a development agreement in the Shelby Trough with Revenant Energy and amended an agreement to have 50,000 acres returned by Aethon Energy in exchange for reducing annual well commitments.
Goldman Sachs said on Sunday it is retaining a cautious outlook on oil prices, as pressure from likely elevated Iranian supply and higher OECD commercial inventories will offset support from stronger global GDP growth. “We are maintaining our Brent/WTI oil price forecasts of $60/56 ($4 below the forwards) for the remainder of 2025 and $56/52 …
Goldman Remains Cautious on Oil Prices as Higher Iranian Supply Prospects Weigh Read More »
The European Union will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said. “This is something which we flagged from the Commission’s side in the context of the 18th …
EU Likely to Propose to G7 to Lower Price Cap on Russian Oil to $50 Per Barrel Read More »
By Ron Bousso Summary Chinese independent refineries accounted for 77% of Iran 2024 exports Iranian imports are discounted, offering profits uplift Removal of sanctions will undermine teapots’ business model LONDON, May 19 – The possible lifting of U.S. sanctions on Iran’s oil exports could deal a fatal blow to independent Chinese refineries that have thrived by …
Lifting US Sanctions on Iran Could Crush China’s ‘Teapot’ Oil Refineries Read More »
Oil prices continue to move upwards, but the outlook is murky with the fate of tariffs still undecided and potential OPEC+ production increases.
May 19 (Reuters Breakingviews) – Elliott Investment Management’s next big move at BP is installing board leadership it likes. The U.S. activist, which now holds 5% of the struggling $78 billion oil major, understandably wants a swift replacement for departing Chair Helge Lund. While suitable candidates aren’t exactly abundant, some exist. The sooner a new …
How BP Top Brass Can Get an Elliott-Backed Revamp Read More »
(Reuters) – A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG …
First LNG Ship Bunkering Hub in US Gulf Coast Secures Permits to Start Work Read More »
Oil producers in the state, home to the Bakken play, have started to slow output and dropped rigs as prices have fallen below $65, the price required to break even.
Keyera Corp. announced the election of two new directors to its board following the retirement of Michael Norris and Douglas Haughey.
