By Emma Sanchez The world’s largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in US shale. That’s one of the big takeaways from comments this week made by executives at Helmerich & Payne Inc. and Patterson-UTI Energy Inc., who pointed to opportunities in countries such as Saudi Arabia to help …
Oil Servicers Look to Middle East for Growth on Shale Slowdown Read More »
By Kevin Crowley and Veena Ali-Khan Exxon Mobil Corp. and Chevron Corp. are setting their sights on expanding production in nations tied to OPEC, including some of the world’s riskiest geopolitical hotspots, as President Donald Trump’s assertive foreign policy helps them strike deals. Venezuela, home to the world’s largest reserves, is the most high-profile opening …
Trump Is Remaking the Global Oil Market, and Exxon and Chevron Want In Read More »
By David Wethe ConocoPhillips Chief Executive Officer Ryan Lance’s priority in Venezuela is recouping billions his company is owed almost two decades after its oil projects were nationalized, rather than drilling new wells. Despite roughly $10 billion in favorable judgments from international arbitrators holding Venezuela liable for the seizures, the Houston oil giant’s efforts to …
ConocoPhillips Wants Venezuelan Payback Before Drilling for Oil Read More »
(Reuters) – Global electricity demand growth is expected to ramp up by more than 3.5% per year on average over the rest of the decade while renewable energy and nuclear power are expected to make up nearly half of all power production, the International Energy Agency said in a report on Friday. Here are some …
WASHINGTON, Feb 6 (Reuters) – U.S. Energy Secretary Chris Wright said on Friday he will before long visit Venezuela to meet with “all the leadership” and to get a better understanding of on-the-ground oil and gas production operations there. Wright did not say when the trip will take place. The Trump administration has said it …
US Energy Secretary to Visit Venezuela to See Leaders “Before Long” Read More »
(Reuters) – Mexican officials are evaluating how to send fuel to Cuba to help meet basic needs such as electricity and transportation without triggering reprisals from Washington, which has threatened tariffs against countries supplying fuel to the Caribbean island, four sources familiar with the matter said. The sources said high-level Mexican officials have been talking …
Mexico Seeking Way to Send Fuel to Cuba Without Being Hit by US Tariffs, Sources Say Read More »
(Reuters) – United Steelworkers is asking workers at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, to prepare for a strike or lockout, the union said on Thursday after weeks of negotiations with the British oil major that did not yield results. The comments come after 98% of members at the refinery voted to authorize a strike. …
(Reuters) – Shell hopes to produce gas from Venezuela’s Dragon field in three years and have it processed in Trinidad and Tobago for export, CEO Wael Sawan told Bloomberg TV in an interview on Thursday. Shell and Trinidad have been trying to increase the supply of natural gas to Trinidad’s Atlantic LNG export facility and …
Shell Wants to Export Venezuelan Gas Through Trinidad, CEO Says Read More »
(Reuters) – The Trump administration on Thursday said it would hold a sale of oil and gas drilling rights across 5.5 million acres of Alaska’s National Petroleum Reserve on March 9. WHY IT’S IMPORTANT The sale is the first of at least five mandated by President Donald Trump’s One Big Beautiful Bill Act, which he …
US to Auction Drilling Rights For Alaska Reserve on March 9 Read More »
(Reuters) – Shell is weighing investments in certain offshore natural gas opportunities in Venezuela involving investments worth a few billion dollars with production expected in the next couple of years, CEO Wael Sawan said in an interview with CNBC on Thursday. “These are opportunities that could potentially be activated within months,” he told CNBC, adding …
Shell Weighing Venezuela Offshore Investments Worth Billions of Dollars, CEO Tells CNBC Read More »
