Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi…
U.S. oil and gas producer Occidental Petroleum Corp said on Monday it expects to spend $4.4 billion to $5.3 billion this year, depending on the price of crude oil.Houston-based Oxy spent around $5 billion in 2018. The company is one of the largest producers in the Permian Basin…
Suncor Energy Inc said on Monday it expects total upstream production to rise by about 13 percent in the fourth quarter of 2018, helped by higher output from its majority-owned Syncrude oil project in northern Alberta.The company expects total upstream production of 831…
Highlands Natural Resources said six new wells on the East Denver shale oil and gas project in Colorado have been completed, with flowback starting on three of the six.The London-listed natural resources company said in a stock exchange annoucement…
U.S. energy firms added oil rigs for the first time in the past three weeks despite sharp declines in crude futures prices to their lowest since the summer of 2017.Drillers added 10 oil rigs in the week to Dec. 21, bringing the total count to 883…
U.S. shale producers are slamming the brakes on next year's drilling with crude prices off 40 percent and mounting fears of oversupply, paring budgets that in some cases were set only weeks earlier.The reversal is alarming because blistering growth in shale fields has propelled U…
Britain's BP has launched the sale of U.S. oil and gas onshore assets that could raise more than $3 billion to help pay for other fields in the United States it bought in October from BHP, industry and banking sources said.The sale proceeds will partly fund the $10…
Canadian oil and gas producer Husky Energy Inc said on Tuesday it has received regulatory approvals to buy rival MEG Energy Corp, but MEG has yet to agree on the deal.In October, Husky made an unsolicited formal offer to buy MEG Energy in a deal valued at C$6…
U.S. energy firms cut oil rigs for a second week in a row this week, prolonging a move by drillers over the past month to reduce the number of active rigs after crude prices collapsed in October and November.Drillers cut four oil rigs in the week to Dec…
Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks Jefferies and BMO…
Mexico's energy secretary Rocio Nahle said on Saturday that President Andres Manuel Lopez Obrador's newly installed administration would cancel two bidding rounds for oil and gas areas scheduled for February.They were slated to include auctions…
U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter for the first time in history.Energy companies cut 10 oil rigs in the week to Dec. 7, the biggest weekly decline since May 2016…
Chevron Corp plans to spend $20 billion next year on oil and natural gas projects, the second-largest U.S. oil producer said on Thursday in a statement, its first increase in four years.Its 2019 capital spending budget is at the high end of…
Crude inventory build has reared its head again. And fears of an oil glut returning have sent oil prices south.According to the International Energy Agency (IEA), OECD oil stocks increased by 58.1 million barrels in Q3 2018, the largest gain since 2015…
Russian energy giant Gazprom revealed that there is still a high level of uncertainty in the long-term forecasts for U.S. shale gas production. It also said that the number of LNG-consuming countries would grow in the long term.Gazprom's Board…
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