(Reuters) – U.S. energy firms this week added rigs for a sixth time in seven weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The total oil and gas rig count, an early indicator of future output, rose by one to 588 in the week to July 31. Baker Hughes …
US Energy Firms Add Rigs for Sixth Time in Seven Weeks, Says Baker Hughes Read More »
(Reuters) – U.S. crude oil output fell about 2% in May from a record in April, while exports hit a record high for the second-consecutive month, according to data published by the U.S. Energy Information Administration on Friday. Crude oil production in May averaged 13.71 million barrels per day, whereas exports rose to 5.73 million …
US Crude Oil Output Fell in May, While Exports Hit Record, EIA Says Read More »
(Reuters) – ExxonMobil said on Friday its pipeline of liquefied natural gas (LNG) projects would diversify its production away from the Middle East, but the company said it remains committed to pursuing opportunities in the region because of its long-term importance to global energy markets. “We won’t shy away from the region,” CEO Darren Woods …
ExxonMobil Says LNG Projects Diversify Portfolio, Won’t ‘Shy Away’ From Middle East Read More »
By Nojoud Al Mallees The Canadian economy is on track to post a stronger-than-expected rebound in the second quarter, partly because of surging energy production. A preliminary estimate suggests real gross domestic product expanded at an annualized rate of 3.4% between April and June, according to Statistics Canada’s industry-based output data. The oil industry had …
Canada Economy Tracking 3.4% Growth as Energy Sector Booms Read More »
Fuel prices are rising but the Strategic Petroleum Reserve may not play a role in this phase of the Hormuz crisis. By Ari Natter and Lucia Kassai The cost of fuel is climbing again as the US-Iran war widens, but this time there’s little indication that Washington will tap its crude stockpiles to bring prices …
US Doesn’t Plan to Tap Oil Stockpiles Again as Iran War Escalates Read More »
By Jonathan Gilbert and Ignacio Olivera Doll US shale pioneer Harold Hamm is moving to expand his footprint in Argentina’s Vaca Muerta oil basin, home to the world’s fastest-growing shale boom, according to people familiar with the matter. Hamm’s Continental Resources Inc. is set to compete for shale blocks in an auction managed by Neuquen …
Oil Billionaire Hamm Seeks to Expand in Argentina’s Shale Patch Read More »
Canadian pipeline operator Enbridge said on Friday it was postponing the 250,000-barrel-per-day second phase of its Mainline crude pipeline network, partly due to Canadian oil producers not committing to significant output increases. The project would have increased exports of Canadian crude to U.S. refineries. But Enbridge CEO Greg Ebel said the company will focus first …
Canada’s Enbridge to Postpone Plans for Second Phase of Mainline Oil Pipeline Expansion Read More »
Advantaged portfolio, integration, and structural savings support earnings and cash flow in volatile market Reported EPS of $3.48, or $3.52 adjusted EPS1 Highest Upstream production in more than two decades, excluding the Middle East disruptions2 Record Permian production, consistent with planned 9% CAGR through 2030, exceeding all competitors3 Fifth Guyana FPSO set sail with …
ExxonMobil Announces Second-Quarter 2026 Results Read More »
Summary Adjusted earnings reach $12 billion, or $6.06 per share Chevron will maintain dividend and buyback range, CFO says Hess acquisition delivers $1.5 billion in deal synergies ahead of schedule HOUSTON, July 31 (Reuters) – Chevron surpassed analyst estimates for second-quarter earnings on Friday, reporting its highest quarterly profit in at least six years as the …
Chevron Records Highest Quarterly Profit in Six Years, Beating Analyst Estimates Read More »
Summary Brent and WTI on track for monthly rises Two VLCCs exit Strait of Hormuz, Bab el-Mandeb sees 29 commodity vessels transit ADNOC buys tankers as Red Sea, Hormuz crisis reshape oil trade Ukraine’s military says it hit Russia’s Volgograd oil refinery July 31 (Reuters) – Oil prices were steady on Friday and on track …
Oil Steady as Traders Assess Shipping Flows; Monthly Gains in Sight Read More »
