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ESG Acquires Pandell, Broadening Reach Across Energy Value Chain

Company Continues to Extend Its Market-Leading Technology Platform to Support Energy Leaders Globally Through Energy Transition ESG, a global leader in energy SaaS solutions, today announced the acquisition of Pandell, a next-generation SaaS land and financial application for the energy sector. This acquisition is part of a broader strategic vision to be the end-to-end software provider …

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US crude inventories notch surprise drawdown on refinery runs

(Reuters) – U.S. crude oil stockpiles fell unexpectedly last week as refiners cranked out fuel to the highest level since 2019 during the Memorial Day holiday, the Energy Information Administration (EIA) said on Wednesday. Refinery crude runs (USOICR=ECI) rose by 482,000 barrels per day (bpd), while refinery utilization rates (USOIRU=ECI) increased by 2.7 percentage points in the week …

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US natgas climbs as hot weather outlook boosts power demand prospects

U.S. natural gas futures climbed more than 2% to a one-week high on Wednesday, as forecasts for warmer weather bolstered the demand outlook for the fuel to cool homes and businesses. Front-month gas futures for July delivery on the New York Mercantile Exchange traded 5.6 cents higher, or 2.5%, to $2.32 per million British thermal …

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Cenovus continues with restart of Ohio refinery, an Industrial Info news alert

SUGAR LAND, Texas–(BUSINESS WIRE)–Researched by Industrial Info Resources– Workers at Cenovus Energy Incorporated’s (NYSE:CVE) (Calgary, Alberta) Toledo refinery in Ohio hope to restart the facility’s 110,000-barrel-per-day (BBL/d) Crude 1 (Sour) Unit this week followed by the sequential startup of the rest of the facility in the upcoming week. The 160,000-BBL/d refinery has undergone extensive repairs following …

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Here’s What Refining Margins Say About the State of the Oil Market

With an uncertain picture on oil supply and demand, traders are searching for any clear clues on where the market is headed. On Sunday, Saudi Arabia announced unilateral cuts to crude production, on top of already pledged reductions in output that it is making alongside other producer nations. Oil futures initially rose, then fell again because the …

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Kazakhstan to go ahead with $16.5 bln claims against oil majors

Reuters Kazakh Energy Minister Almasadam Satkaliyev said on Tuesday that the government plans to go ahead with the $16.5 billion claims against international oil majors over costs and has no plans for a possible out-of-court settlement. In April, Kazakhstan started arbitration proceedings against companies developing its Kashagan and Karachaganak oilfields over $13 billion and $3.5 …

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Hourly Pay for US Shale Workers Tops $43, a Record in the Industry’s Hunt for Employees

(Bloomberg) — Wages for US oil workers climbed above $43 an hour for the first time ever as employment held steady in the shale patch and explorers push to maintain their slow production growth. Average hourly earnings for front-line oil-and-gas workers rose 0.7% in April from the previous month to $43.28, according to a Labor …

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