Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts' estimates, helped by a surge in Permian basin production and higher realized prices for its crude.Production from its Permian resources unit rose 57 percent to 250…
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela.Brent crude futures were up $1…
U.S. crude inventory has been hovering between 430 and 450 million barrels since early December — and remains around 6% above the five year average for this time of year.But there are indications that crude supply is beginning to decrease. U…
BP Chief Executive Bob Dudley on Monday said the company will invest about $1.8 billion in Egypt this year and he expects a crude oil price of $50-65 a barrel over the next year.Dudley added that the current oil price is healthy and fair and that the market feels balanced…
Algeria's Sonatrach has shortlisted four firms, with only one to be selected, to set up a trading joint venture, the company's chief executive Abdelmoumene Ould Kaddour told reporters.'Of the 14 international firms interested in a trade JV with Sonatrach…
TransCanada Corp said on Monday a part of its Keystone crude pipeline from Steele City, Nebraska, to Patoka, Illinois, remained shut after a leak was discovered in the St. Louis, Missouri, area last week.The cause and source of the spill have…
Phillips 66 and Kinder Morgan Inc began on Monday soliciting shipper commitments for crude deliveries on the 900,000 barrel per day (bpd) Gray Oak Pipeline from the Permian Basin to delivery points at or near the Houston Ship Channel, the companies said…
Having taken a closer look at the detailed economics of the most recent 1,000 wells drilled in the most popular shale hotspot – the Wolfcamp A zone of the Permian Delaware basin – Rystad Energy can see a clear pattern emerging that favors large players…
Schlumberger 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 president…
Gas production at the Groningen field in the north of the Netherlands is falling faster than planned, the Dutch government said on Friday.Output at the field will fall to 15.9 billion cubic metres (bcm) in the year ending October 2020, the government said…
Oil and gas producer Anadarko Petroleum Corp on Tuesday reported a fourth-quarter profit that missed analysts' estimates by a wide margin, as it spent more on its projects in West Texas and northeast Colorado.Oil producers, betting on a recovery in oil prices since their slump in 2014…
Oil prices fell on Tuesday, a day after data showing a decline in U.S. factory orders dragged both benchmarks down from 2019 highs.Despite the slide, investors expect U.S. sanctions on Venezuela and production cuts led by OPEC to head off a glut this year…
Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top U.S. shale field.Shares of both companies rose about 3 percent…
Storms, snow and freezing temperatures in Russia's northwest to the south have delayed some oil product exports but the fall in volumes so far has not been exceptional for the time of year, industry sources said on Thursday.Products are mainly shipped from ports on the Baltic coast…
Pipeline operator Sunoco Pipeline LP has agreed to pay roughly $5.4 million to settle claims over crude oil spills from 2013 to 2015 in three U.S. states, the U.S. Department of Justice said in a statement late on Wednesday.* Sunoco, an Energy Transfer LP unit…
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