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Exxon, Chevron Top Q3 Profit Expectations as US Oil Output Hits Record High

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. oil producers Exxon Mobil and Chevron posted better-than-expected third-quarter profits on Friday, outperforming their European rivals, as record U.S. oil production cushioned the blow from a plunge in fuel margins. The two focused on expanding oil and gas production as rivals BP and Shell spent heavily on wind, solar and renewables that …

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Venezuela’s Oil Exports Hit a 4-Year Peak on Higher Output, Sales to US, India

CDN and International News, Conventional Energy, Latest, Oil / By

HOUSTON/MARACAY, Nov 1 (Reuters) – Venezuela’s oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA. The increase happened despite a large storage terminal fire last month, …

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Iran Braces for Trump Victory, Fearing More Israeli Strikes, Western Sanctions

CDN and International News, Latest, Natural Gas, Oil / By

 Iran’s leadership and allies are bracing for what they would regard as a dreadful outcome of the imminent U.S. presidential election: A return to power of Donald Trump. Opinion polls suggest the Republican Trump and Democratic Vice President Kamala Harris remain locked in a close contest. But Iranian leaders and their regional allies in Lebanon, …

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Pipeline Operator Enbridge’s Q3 Profit More Than Doubles on Steady Oil demand

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

(Reuters) – Enbridge posted a more than twofold jump in its third-quarter profit on Friday, as the Canadian pipeline operator benefited from steady oil demand. Data from the U.S. Energy Information Administration showed that total U.S. oil consumption rose in July to the highest seasonal level since 2019. Demand for gasoline was also at the highest seasonal levels …

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Oil Climbs 2% on Reports of Iran Preparing Strike on Israel

Latest, Oil, Tri-Pinned, US News / By

Summary Iran prepares strike on Israel from Iraq, Axios reports Investors also focused on US election and China’s NPC meeting next week (Reuters) – Oil prices rose more than 2% on Friday after reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days, though benchmarks were still set for …

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Oil Was Written Off. Now It’s the Most Productive U.S. Industry

Latest, Oil, Pinned Primary, US News / By

Oil and gas extraction has seen the fastest labor productivity gains of any sector in the past decade. In a dusty swath of sagebrush country near the Texas-New Mexico border, engineers at oil producer Matador Resources Co. encountered a problem. Conventional wisdom called for drilling four wells into the ground and then horizontally to access layers of …

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Exxon Agrees to Sell Argentina Shale Oil Assets to Pluspetrol

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

Deal still needs the approval of Neuquen Province, person says Exxon is exiting Vaca Muerta shale patch to focus elsewhere Exxon Mobil Corp. has agreed to sell most of its assets in Argentina’s Vaca Muerta shale patch to Pluspetrol SA, according to people familiar with the matter. The province of Neuquen, where the assets are located, has …

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As America Votes, These Big Energy Projects Hang in the Balance

Conventional Energy, Latest, LNG, Natural Gas, Nuclear, Oil, US News / By

Harris and Trump have both touted the promise of lower energy bills while campaigning for president — but they’ve laid out starkly different visions for how to get them.   The outcome of next week’s US presidential election is poised to have profound implications for a handful of multi-billion-dollar energy projects. Republican Donald Trump, who has …

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US Oil Output Hits Monthly Record High in August, EIA Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. oil production rose 1.5% in August to a monthly record high of 13.4 million barrels per day (bpd), the U.S. Energy Information Administration (EIA) said in its monthly oil and natural gas production report. That tops the prior record high of 13.31 million bpd in December 2023, the data showed. In top …

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