Conventional Energy

(Reuters) – U.S. shale producer Diamondback Energy on Monday flagged lower prices for its oil production in the fourth quarter, compared to the preceding three months. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. The company said the average realized prices, or the …

Diamondback Energy Flags Lower Prices for Oil Production in Fourth Quarter Read More »

(Reuters) – U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state’s coast should be moved out of the Bayou State’s courthouses and into federal court. The justices during a little more than an hour …

US Supreme Court Wrestles With Louisiana Communities’ Lawsuits Against Oil Companies Read More »

(Reuters) – Workforce security and policy reform including contract sanctity are among the prerequisites that have to be in place in Venezuela for the U.S. oil industry to move in, American Petroleum Institute President Mike Sommers said on Monday during a telephone conference with journalists. He said the move to remove Nicolas Maduro from power …

Venezuela Security, Policy Reform Needed for US Oil Industry to Move In, API Chief Says Read More »

U.S. President Donald Trump said on Sunday that he might block Exxon Mobil from investing in Venezuela after the oil major’s CEO called the country “uninvestable” during a White House meeting last week. Exxon CEO Darren Woods told Trump that the Venezuelan market is “uninvestable” in its current state. Venezuela seized Exxon’s and Conoco’s assets in …

PAYBACK: Trump Says He Might Keep Exxon Out of Venezuelan Over “Uninvestable” Comment Read More »

Summary Vitol, Trafigura have global sales, shipping, logistics U.S. oil majors wary of legal, credit, physical risks Venezuelan oil stored on old ships, was heading to China (Reuters) – Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit …

Trading Houses Beat US Majors to First Deals for Venezuelan Oil Read More »

(Reuters) – U.S. President Donald Trump signed an executive order aimed at blocking courts or creditors from impounding revenue tied to the sale of Venezuelan oil held in U.S. Treasury accounts, the White House said on Saturday. The emergency order said the revenue, held in foreign government deposit funds, should be used in Venezuela to help create …

Trump Moves to Block Courts From Seizing Venezuelan Oil Revenue in US Accounts Read More »