The shock attack by Hamas and Israel’s response risk a wider destabilization of the region — and the global oil market is watching. There are sprawling questions about the geopolitical consequences of the conflict, which erupted 50 years after the Yom Kippur war that foreshadowed the 1970s oil crisis. There is no suggestion that the fallout from …
What Does the Israel-Hamas War Mean for Oil Prices? Read More »
(Reuters) – The global coal industry may have to shed nearly 1 million jobs by 2050, even without any further pledges to phase out fossil fuels, with China and India facing the biggest losses, research showed on Tuesday. Hundreds of labour-intensive mines are expected to close in the coming decades as they reach the end …
Coal Industry Faces 1 Million Job Losses from Global Energy Transition Read More »
(Reuters) – Prior to the outbreak of fighting between Hamas and Israel, investors had become less bullish about the outlook for crude oil and fuel prices, amid concerns about whether the strong rally of the previous three months was sustainable. Some of the froth that accumulated in the market seems to have been blown off as …
Oil Bulls turned cautious Before Middle East Conflict – John Kemp Read More »
Goldman Sachs does not see any immediate major effect on near-term oil market inventories from the attacks in Israel over the weekend, it said in a note. It added, however, that the attacks reduce the likelihood of normalization of the country’s relations with Saudi Arabia, and the associated boost to Saudi production over time. Hamas’ …
Goldman Sachs Sees No Immediate Impact on Oil Inventories From Israel Attacks Read More »
Oct 6 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator …
U.S. Drillers Cut Oil and Gas Rigs for Third Week in a Row -Baker Hughes Read More »
Exxon Mobil Corp. boss Darren Woods is poised to emulate his two predecessors with a career-defining mega deal that — for better or worse — would likely transform the oil giant. Exxon’s talks to buy Pioneer Natural Resources Co., a US rival with a market value of $55 billion, represent a strategic bet underpinned by …
Exxon CEO’s Quest for Mega Deal Is a Bet on Oil’s Staying Power Read More »
(Reuters) – The head of Exxon Mobil’s shale oil and gas business, a unit involved in merger talks with rival Pioneer Natural Resources, was arrested at a Texas hotel last week on a sexual assault charge, police said. David Scott, an Exxon senior vice president who oversees all its shale oil and gas production business, …
Head of Exxon’s U.S. Shale Oil Business Faces Sexual Assault Charge in Texas Read More »
On October 2, 2023, the Railroad Commission of Texas (the “RRC”) made an announcement on changes to Statewide Rule 8, which regulates how oil and gas waste is managed within the state. The vast majority of oil and gas waste is disposed of in drilling pits. Drilling pits (shown in the image below) are large …
RRC Proposes Major Overhaul for Water Protection and Oil & Gas Waste Management Rules Read More »
The White House may have blamed Exxon Mobil for high energy prices taking their toll on consumers, but would struggle to thwart the top U.S. oil producer’s contemplated $60 billion acquisition of Pioneer Natural Resources, five antitrust lawyers and experts said on Friday. Deal negotiations between Exxon and Pioneer are advanced but have not yet led …
U.S. Would Struggle to Block Exxon’s Politically Unpopular Megadeal Read More »
US job growth sizzles; wage inflation cooling Russia lifts ban on most diesel exports US oil rig count at lowest since Feb 2022 -Baker Hughes NEW YORK, Oct 6 (Reuters) – Oil prices rose on Friday but remained posted their steepest weekly losses since March, after another partial lifting of Russia’s fuel export ban compounded …
Oil Prices Rise, but Post Biggest Weekly Decline Since March Read More »
