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API Shows Weekly US Crude, Fuel Stockpiles Fall, Market Sources Say

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

(Reuters) – U.S. crude oil and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures on Wednesday. The API figures showed crude stocks fell by 7.431 million barrels in the week ended Aug. 30, the sources said, speaking on condition of anonymity. Gasoline inventories fell by 336,000 barrels, and distillates …

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Citi Says 2025 Oil Prices Could Average $60/bbl Without Deeper OPEC+ Cuts

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC, US News / By

Sept 4 (Reuters) – If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose …

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Targa Resources Rebuffed Takeover Interest From Larger Rival Williams

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines, US News / By

Targa viewed Williams’s overture as undervaluing company Targa’s market value now $33 billion after shares gain Targa Resources Corp. rebuffed informal takeover interest from larger rival Williams Cos. in recent months, people with knowledge of the matter said, in another signal of sustained appetite for consolidation in the pipeline industry. The Houston-based natural gas pipeline operator viewed the …

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Argus Launches Three Price Quotes for Trans Mountain Oil Pipeline Exports

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines / By

Oil pricing agency Argus launched on Wednesday three daily price quotes for crude exported from western Canada’s newly expanded Trans Mountain (TMX) pipeline amid rising demand for the oil from Asia.   The agency will assess prices of crude loaded from the TMX pipeline onto Aframax-sized tankers capable of carrying 80,000 metric tons (584,000 barrels) …

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OPEC+ Discussing Delay to Planned Oil Output Hike in October

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

(Reuters) – OPEC+ is discussing a delay in a planned output increase next month as oil prices hit their lowest in 9 months, three sources from the producer group told Reuters on Wednesday. Oil prices have been falling together with other asset classes on concerns about a weak global economy and particularly soft data from …

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EOG to Ramp Up Activity in Utica Shale Play in Ohio

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Shale, US News / By

Houston-based shale producer EOG Resources expects to ramp up operations in the Utica shale play in Ohio, Chief Operating Officer Jeff Leitzell told attendees at the Barclays CEO Energy-Power Conference in New York on Tuesday. EOG Resources has doubled its activity in the Utica year-on-year, operating on 445,000 acres with an average entry cost of around …

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US Gasoline Slumps to Near 3-Year Low on End of Driving Season, Oil Slump

Energy Topics & Technology, Gasoline, Latest, US News / By

(Reuters) – U.S. gasoline futures fell nearly 6% on Tuesday to their lowest since December 2021, as the end of the driving season weighed on demand for the motor fuel amid a sell-off in the broader oil market. Gasoline futures for October deliveries settled 5.5% lower at $1.98 per gallon, their biggest losses in a …

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Chevron Kicks Off Efforts to Boost Output at Two Gulf of Mexico Fields

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, US News / By

(Reuters) – Chevron (CVX.N) said on Tuesday it had started water injection operations at the company’s projects, Jack/St. Malo and Tahiti off the U.S. Gulf of Mexico, to boost oil and natural gas recovery. Since the fields started production in 2014, Jack/St. Malo have cumulatively produced almost 400 million gross barrels of oil equivalent (boe), the …

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Baker Hughes Announces Leadership Changes to Continue Strategic Growth and Customer Success  

Company Announcements, Energy Topics & Technology, Latest, OFS-Oilfield Services, Press Releases, US News / By

Amerino Gatti appointed as executive vice president of Oilfield Services & Equipment (OFSE) business segment Maria Claudia Borras appointed as chief growth & experience officer Muzzamil Khider Ahmed appointed as chief people & culture officer HOUSTON and LONDON, Sept. 03, 2024 (GLOBE NEWSWIRE) — Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or the “Company”) announced …

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Halliburton Says Expenses Incurred in Response to August Cyber Attack

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By

U.S. oilfield services firm Halliburton said on Tuesday it has incurred and is likely to continue to incur expenses related to its response to a cyber attack in August. The incident, in which an unauthorised third party accessed and removed information from Halliburton’s systems, caused disruptions and limited access to portions of its business applications, …

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