Auto Added by WPeMatico
It’s been almost 25 years since BP Plc attempted to rebrand itself as “Beyond Petroleum” and adopt a more environmentally friendly image. But with a recent swing away from green energy toward its fossil fuel roots, “Back to Petroleum” might be a more appropriate tag line. The shift comes as BP lags significantly behind its …
What Went Wrong for BP? Why the Oil Major Hit Reset Read More »
If Shell acquires BP, it would create a European oil major that could challenge industry leaders Exxon Mobil Corp. and Chevron Corp., with upstream oil and gas production of nearly 5 million barrels of oil equivalent a day. Summary by Bloomberg AI The deal would give Shell dominance in LNG sales, with combined sales jumping …
BP-Shell Megadeal Would Create European Rival to Exxon Mobil Read More »
Photographer: Anthony Prieto/Bloomberg Crescent Energy Co. is looking to sell its drilling portfolio in areas including the Denver-Julesburg Basin in Colorado to focus on its core acreage in the Eagle Ford and Uinta basins. Summary by Bloomberg AI The divestment could fetch more than $1 billion, but no final decision has been made and Crescent …
KKR-Backed Crescent Energy Weighs Asset Sales to Focus on Eagle Ford, Uinta Basins Read More »
(Reuters) – The U.S. Geological Survey (USGS) released an assessment on Wednesday detailing potential undiscovered oil and gas in two formations under much of the U.S. Gulf Coast from Texas to Florida. The assessment found that there are technically recoverable resources of 35.8 trillion cubic feet of natural gas and 28 million barrels of oil …
Potential For Undiscovered Oil and Gas Resources in US Gulf Coast, Agency Says Read More »
(Reuters) – U.S. crude stocks and distillate inventories fell last week, while jet fuel demand rose to a five-year high, the Energy Information Administration (EIA) said on Wednesday. Gasoline inventories rose, stoking concerns among analysts of weak demand ahead of a major driving holiday in the U.S. later this month. Crude inventories fell by 2 …
US Crude Inventories Decline, Jet Fuel Demand Jumps, EIA Says Read More »
(Reuters) – The oil market appears to be telling Saudi Arabia that its shift to pumping more oil after five years of cutting output was well timed. The kingdom has in recent weeks pushed fellow OPEC+ members to produce more oil despite fears about an economic slowdown, a marked change in policy that helped oil …
Oil Market ‘Smile’ Suggests Saudi Arabia’s Output Shift Was Well Timed Read More »
(Reuters) – The U.S. Energy Information Administration said on Wednesday that it estimates that the average number of oil wells completed simultaneously within 50 feet of each other in the Lower 48 states has more than doubled over the past decade. The agency said that simultaneous well completion per location had increased from 1-1/2 wells …
Oil Wells Per Location in Lower 48 US States More Than Double in Past Decade, EIA Says Read More »
Summary • U.S.-China to meet over the weekend • U.S. crude stocks seen falling 800,000 barrels in EIA report • API showed U.S. crude, gasoline stocks fell, sources say LONDON, May 7 (Reuters) – Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade …
Oil Rises as Market Eyes US-China Trade Talks, Lower US Output Read More »
(Reuters) – U.S. natural gas futures prices declined on Tuesday on market talk that U.S. liquefied natural gas company Freeport LNG’s export plant in Texas is shut. Officials at Freeport declined to comment. Freeport is one of the most closely watched LNG export plants in the world because the start and stop of its operations …
US Natgas Prices Fall on Market Talk That Freeport LNG Export Plant in Texas Shut Read More »
(Reuters) – Russia’s Vladimir Putin and China’s Xi Jinping will discuss the “most sensitive” issues, including energy cooperation and a proposed Power of Siberia 2 gas pipeline to China, Kremlin aide Yuri Ushakov said on Tuesday. Xi will start an official four-day visit to Moscow on Wednesday and will be among a number of the …
Putin and XI to Talk Energy, Discuss Power of Siberia 2 Gas Pipeline Read More »
