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U.S. energy giant ExxonMobil Corp is weighing offers for its oil and gas assets in Argentina’s Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward. The comments come after Bloomberg earlier reported that ExxonMobil was …
ExxonMobil Weighs Offers for Argentina Shale Assets – Source Read More »
(The authors are Reuters Breakingviews columnists. The opinions expressed are their own.) By George Hay and Yawen Chen (Reuters Breakingviews) – U.S. and European oil giants sell the same product in the same global market. But they are on diverging paths. While American groups like Exxon Mobil and Chevron are buying up smaller drillers, their European rivals such …
Strategic Clarity Fuels U.S. Oil Giants’ M&A Spree Read More »
Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …
Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages Read More »
Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …
Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages Read More »
Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. Already some 4,680 oilfield jobs have been lost since December, according to data from trade group Energy Workforce & Technology …
U.S. Oilfield Job Losses Could Swell as Natural Gas Prices Plunge Read More »
U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories rose by 3.5 million barrels to 442.9 million barrels in the week ending Feb. 16, the EIA said, compared with analysts’ expectations in a Reuters poll for a 3.9 million-barrel rise. Crude stocks …
U.S. Crude Stockpiles Rise, Gasoline and Distillate Draw Down – EIA Read More »
Suncor Energy, Canada’s second-largest oil producer, will focus this year on cutting operating costs in its oil sands mining business, CEO Rich Kruger said on Thursday, as the company continues efforts to fix long-running underperformance. Calgary-based Suncor is trying to improve safety and efficiency after a string of fatalities at oil sands sites in recent …
Canada’s Suncor Looks to Cut High Oil Sands Mine Operating Costs Read More »
Reuters (Reuters) – U.S. liquefied natural gas (LNG) company Cheniere Energy posted a 38.5% fall in its full-year LNG revenue on Thursday, hurt by a fall in natgas prices. Average U.S. natural gas prices fell nearly 40% in 2023, dragged by record production, ample inventories in storage and relatively mild weather conditions, pressuring prices for LNG …
Cheniere Energy’s Annual LNG Revenue Falls on Lower Natgas Prices Read More »
BP Plc plans to return its 435,000 barrel-per-day Whiting, Indiana refinery, the largest in the U.S. Midwest, to full production in March, said people familiar with plant operations on Wednesday. BP plans to begin restarting the refinery in the last week of February and bring refinery production to full in March, the sources said. A …
BP Plans Return of Whiting, Indiana Refinery in March, Sources Say Read More »
Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics While Preserving Low Leverage; …
