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Big Oil to Reap Billions From Iran War Windfall After a Month of Soaring Energy Prices

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By Sheila Dang, Stephanie Kelly and Amanda Stephenson Oil prices surge due to Iran conflict, boosting profits Analysts revise Chevron, Shell earnings estimates upwards Middle East disruptions may hurt oilfield-service companies HOUSTON, March 26 (Reuters) – As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the …

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With Hormuz Still Shut, Options Market Signals Rising Risk of $150 Oil

CDN and International News, Conventional Energy, Energy Topics & Technology, Finance, Forecasts, Latest, Oil / By

By Amanda Cooper and Robert Harvey Options market shows bets on $150 oil by end-April rising Open interest in $150 calls nearly 10 times larger than last month Oil is trapped in Gulf following U.S.-Israel conflict with Iran Brent crude set all-time high of $147 in 2008 LONDON, March 26 (Reuters) – Traders are ​piling …

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TotalEnergies to Honour All LNG Contracts Despite Qatar Outages

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG / By

By Forrest Crellin and Shadia Nasralla PARIS, March 26 (Reuters) – TotalEnergies’ (TTEF.PA) CEO Patrick ‌Pouyanne said on Thursday that the company made a decision not to declare force majeure to any of its liquefied ​natural gas customers, and that it would respect ​all the LNG contracts in terms of ⁠price and volume. Qatar, the …

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Trump Says He Will Pause Attacks on Iran’s Energy Plants

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By Bhargav Acharya and Kanishka Singh WASHINGTON, March 26 (Reuters) – U.S. ​President Donald Trump said on Thursday he was pausing attacks ‌on Iran’s energy plants for 10 days at what he cast as the Iranian government’s request, and said talks with Tehran were going “very well.” “As ​per Iranian Government request… I am pausing …

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Oil Settles Up Nearly 6% as Investors Fear Further Middle East Escalation

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By Siddharth Cavale Iran says it is reviewing US proposal, has no interest in talks Ukrainian attacks, tanker seizures halt 40% of Russia oil export capacity Houthi movement says it stands ready to strike Red Sea waterway NEW YORK, March 26 (Reuters) – Crude futures closed higher on Thursday, rebounding from the previous session’s losses, …

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Occidental’s Hollub, US Oil’s Most Powerful Woman, Prepares to Hand Over Reins, Sources Say

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(Reuters) – Vicki Hollub is preparing to retire as chief executive of Occidental Petroleum, after her decade-long stewardship of the U.S. oil and gas company that made her one of the most powerful women in a male-dominated industry, sources familiar with the matter told Reuters. Hollub, 66, plans to make a formal announcement later this …

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Trump Officials Tout US Energy Dominance as Global Oil Execs Warn of Supply Crisis

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

(Reuters) – U.S. officials this week said the historic spike in fuel prices during the war in Iran will be short-term and trumpeted record U.S. production at an industry conference where oil executives and government officials from Asia, the Middle East and Europe bemoaned the worst oil and gas supply disruption in decades. The contrasting …

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Private Firms Spearhead Global Shale Push as US Public Operators Stay Home

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Shale, US News / By

(Reuters) – Private energy companies and their backers are emerging as leaders in the next phase of global shale development, taking early positions in overseas basins while publicly listed U.S. producers focus on capital discipline and their core domestic acreage. The pattern echoes the early years of the U.S. shale revolution, when independent wildcatters took …

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Trump Says Iran’s ‘Present’ to US Was Allowing 10 Oil Tankers Through Hormuz

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(Reuters) – U.S. President Donald Trumpsaid on Thursday that Iran was letting10 oil tankers transit the Strait of Hormuz as an apparent goodwill gesture in negotiations. Trump made the comments at a Cabinet meeting in the White House, elaborating on what he had previously described as a “present” from Iran. “They said, to show you …

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War, Oil Shock, Uncertainty? Time to Raise US Equity Outlook: McGeever

Energy Commentary, Energy Topics & Technology, Finance, Latest, US News / By

(Reuters) – With visibility on the U.S. economic outlook greatly reduced by the fog of war and $100-a-barrel oil, it might seem an odd time to be getting more bullish on stocks. But from a valuation, earnings, and growth perspective, there’s a compelling case. Strategists at Barclays outlined it this week as they raised their …

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