By Erwin Seba Brent and WTI register steepest weekly losses since April US-Iran ceasefire deal not finalised US crude, gasoline and distillate stockpiles fell last week -EIA HOUSTON, May 29 (Reuters) – Oil futures fell more than 2% on Friday, closing out their steepest weekly decline since early April as traders awaited word that the …
Oil Falls on Hopes for US-Iran Ceasefire Agreement Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a sixth straight week, for the first time since May 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by four to 562 …
US Drillers Add Oil, Natural Gas Rigs for Sixth Straight Week, Baker Hughes Says Read More »
(Reuters) – Canada’s South Bow will decide whether to proceed with its proposed partial revival of the Keystone XL oil pipeline by mid-2027, the company said on Friday, as it announced it has secured the shipper commitments it was seeking to advance the project. The proposed 550,000-barrel-per-day Alberta-to-Wyoming pipeline, dubbed Prairie Connector, could increase Canada’s …
South Bow Targets 2027 Decision on Canada-US Oil Pipeline Revival Read More »
(Reuters) – U.S. shale producers have the lowest stock of drilled-but-uncompleted wells on record, limiting their ability to move quickly to boost crude output and replace rapidly depleted oil inventories after exports and refinery processing jumped to plug the shortfall in supply caused by the U.S.-Israeli war on Iran. Producers in the United States have …
Record-Low U.S. Shale Well Backlog Curbs Fast Output Gains Amid Export Surge Read More »
(Reuters) – A political understanding has been reached between Iran and the United States over the Iran war, but it has not yet been finalised, a senior Iranian source told Reuters on Friday. The source said U.S. Donald Trump’s claim that uranium would be unearthed by the U.S. was not true, adding that the possible …
Political Understanding Between Iran and US Not Yet Finalised, Iranian Source Says Read More »
(Reuters) – U.S. oil and gas major Chevron will not consider paying a toll to move ships through the Strait of Hormuz, CEO Mike Wirth told Bloomberg TV on Friday. Wirth also said several vessels that transit through the Strait of Hormuz have been attacked in recent days. Perhaps not every day, but there have …
Chevron Won’t Pay Toll to Move Ships Through Hormuz, CEO Tells Bloomberg TV Read More »
(Reuters) – U.S. crude production was largely steady in March at 13.7 million barrels per day, according to the Energy Information Administration on Friday. Crude production in Texas fell to 5.78 million bpd, marking a four-month low, while output in neighboring New Mexico was steady on the month at 2.31 million bpd. Texas and New …
US Crude Production Largely Steady on the Month in March, EIA Says Read More »
By Heidi Taksdal Skjeseth Norway is putting pressure on the European Union to remove a moratorium on new oil and gas drilling in the Arctic where almost two thirds of its petroleum resources lie. Norwegian politicians, civil servants, and environmental and industry lobbyists are increasingly visiting Brussels to influence EU institutions as the bloc gears …
Norway Presses EU to Drop Ban on Arctic Drilling of Oil and Gas Read More »
By Kevin Crowley, Annmarie Hordern, and Jonathan Ferro Several vessels transiting through the Strait of Hormuz have been attacked in recent days, underscoring the “very real” risks that remain for shipowners in the Persian Gulf whether or not a peace accord is signed, Chevron Corp. Chief Executive Officer Mike Wirth said. “There still has been …
Ships Attacked in Strait of Hormuz This Week, Chevron CEO Says Read More »
NEW YORK, May 28 (Reuters) – A U.S. District Court on Thursday denied the California Department of Parks and Recreation’s bid to stop oil producer Sable Offshore Corp (SOC.N) from moving oil on a long-disputed pipeline linked to the Santa Ynez offshore platform. The denial marks a setback for California’s efforts to stop the Santa …
District Court Denies California Parks Department Bid to Stop Sable Offshore Pipeline Read More »
