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About 29% of crude production and 17% of natural gas output in the U.S. Gulf of Mexico were shut in response to Hurricane Helene, the U.S. Bureau of Safety and Environmental Enforcement said on Wednesday. Energy producers had shut-in 511,000 barrels per day of oil production and nearly 313 million cubic feet of natural gas …
About 29% of Crude Production Shut in Gulf of Mexico Due to Hurricane Helene Read More »
The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron’s purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil’s challenge to the $53 billion deal as its final hurdle. The proposed merger was first …
FTC Set to Greenlight Chevron’s $53 Bln Buy of Oil Rival Hess, Sources Say Read More »
Summary US avg. gasoline price set to dip to $2.99/gal by late Oct. Lower fuel prices could help Democrats in election Pump prices down sharply in competitive ‘swing states’ Wild Card: Hurricane Francine churns through oil patch (Reuters) – U.S. motorists should see gasoline prices fall below $3 a gallon for the first time in …
U.S. Gasoline Prices Set to Fall Under $3/gallon as Election Nears Read More »
HOUSTON, (Reuters) – An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. …
New Drilling Technology to Put Billions of Barrels of Oil in Reach Read More »
Oil prices rose for a fifth consecutive session on Monday, holding on to last week’s more than 3% gains, as U.S. recession fears eased while geopolitical tensions in the Middle East supported prices. Brent crude futures climbed 22 cents, or 0.3%, to $79.88 a barrel by 0458 GMT, while U.S. West Texas Intermediate crude futures …
Oil Extends Gains for Fifth Session Supported by Mideast Tensions Read More »
By Robert Cyran NEW YORK, Aug 2 (Reuters Breakingviews) – Exxon Mobil is barging ahead of rival Chevron. Second-quarter figures reported on Friday showed the $520 billion oil giant churned out $9.2 billion of profit, thanks to the benefits of its $60 billion deal for Pioneer Natural Resources and record production in oil fields in Texas and offshore South …
By Gary Mcwilliams Big dollar deals like Conoco-Marathon Oil driving activity Average price paid per undeveloped property up 68% this year Exxon’s deal for Pioneer kicked off latest wave of mergers HOUSTON, July 30 (Reuters) – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big …
U.S. Oil and Gas Mergers Continue at Furious Pace in Q2 Read More »
Harris supported ban on extraction method as candidate in 2019 Reversal shows focus on vice president after Biden dropped out Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracking, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. Harris’ previous anti-fracking position …
Harris Backs Off Fracking Ban as GOP Campaigns on Past Position Read More »
By Reuters (Reuters) – Baker Hughes cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. …
Baker Hughes Sees Lower North America Activity; Bets on Foreign Demand Read More »
July 25 (Reuters) – Goldman Sachs said on Thursday that whoever wins the U.S. presidential election in November will have limited tools to significantly boost domestic oil supply next year. Strategic petroleum reserve stocks are low and regulatory easing may only significantly boost U.S. long-run supply, the bank said in a client note. Oil prices rose …
