Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy conference said on Thursday. The price...
Read moreOil prices have struggled to rally above $64 a barrel since last quarter’s sharp pullback, but Goldman Sachs believes crude futures could break out in the coming months. The investment bank forecasts international benchmark Brent crudewill...
Read moreOil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela’s oil exports. U.S. West Texas Intermediate (WTI) crude oil futures were at $53.60 per barrel at 0219 GMT, up 50...
Read moreTop oil exporter Saudi Arabia would need oil priced at $80-$85 a barrel to balance its budget this year, an International Monetary Fund official said. Riyadh’s breakeven oil price depends on several factors, including the level of oil...
Read moreSchlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world’s largest oilfield services company. Le Peuch has previously served as the...
Read moreBP joined its competitors in posting a strong 2018 performance, with a doubling of profits driven by strong growth in oil and gas output following a large U.S. shale acquisition. Record utilization of its oil and gas fields and refining capacity...
Read moreExxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output. The stock price for the world’s largest publicly traded oil and gas...
Read moreU.S. crude oil surged this month to post its best January performance on record, breaking a three-month losing streak that saw futures lose nearly half of their value. Crude futures have powered through a steady flow of weak economic data from...
Read moreIndonesian oil and gas group Medco said on Wednesday it will buy Ophir Energy PLC for a sweetened bid of 390.6 million pounds (US$511.02 million) in cash, as it looks to strengthen its portfolio of assets in Southeast Asia. Ophir’s shares were...
Read moreChinese companies made USD15.6 billion in non-financial direct investment in 56 countries along the Belt and Road last year, up 8.9 percent annually, and significantly higher than the country’s overall outbound foreign investment growth of...
Read moreCNOOC Limited has made a new discovery on the Glengorm prospect, located in offshore UK Central North Sea. The Glengorm discovery is located in License P2215 with a water depth of approximately 86 meters. As reported by Offshore Energy Today in...
Read moreOil prices crept higher on Tuesday after the U.S. government slapped sanctions on Venezuela’s state-owned oil firm PdVSA in a move aimed at severely curbing the OPEC member’s crude exports to the United States. U.S. West Texas...
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