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(Reuters) – Oil production in North Dakota rose 4,000 barrels-per-day (bpd) to 1,130,000 bpd in February, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,101,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to …
By Shadia Nasralla, Stephanie Kelly and Dmitry Zhdannikov Europe’s top-three majors made billions trading in Q1, sources say BP flags ‘exceptional’ trading results Shell, TotalEnergies also report strong trading results Chevron, Exxon fail to capitalise on crisis, shares trail LONDON, April 17 (Reuters) – The trading desks of Europe’s top three oil majors have reaped …
European Oil Majors Outshine US Rivals With Iran War Trading Bonanza Read More »
(Reuters) – EagleRock, a company that collects royalties and fees from oil and gas production on the land it controls in the Permian Basin, is exploring a U.S. initial public offering that could value it at up to $2 billion, people familiar with the matter said. The Houston-based firm has hired Goldman Sachs on the …
Permian-Focused EagleRock Plans Rare US Oil and Gas IPO, Sources Say Read More »
By Javier Blas It feels like an eternity, but it was only a decade ago when the political center-left was still for “all of the above” energy sources: fossil fuels and renewables alike. It was the not-so-distant days of Barack Obama, when the US president defended fracking as a force for good, saying there wasn’t …
By Shadia Nasralla BP had upstream/downstream structure before 2020 transition push No clear timeline set yet for reorganisation Meg O’Neill became CEO on April 1 LONDON, April 14 (Reuters) – BP (BP.L) will reorganise into two main business units – upstream and downstream – under new CEO Meg O’Neill, who took the helm on April …
BP’s New CEO to Simplify Company Structure into Upstream, Downstream Units Read More »
(Reuters) – Shale producer Occidental Petroleum said on Friday its worldwide average realized oil prices fell about 1.6% year-on-year in the first quarter, despite higher benchmark crude rates amid Middle East-related energy market disruption. The U.S.-Israel war on Iran has caused a massive disruption of energy supplies as the Strait of Hormuz, a conduit for …
Occidental Reports Lower Realized Oil Prices Even as Iran Conflict Drives Up Crude Rates Read More »
By Kevin Crowley The surge in oil and natural gas prices from the Iran war might seem like good news for the world’s biggest energy companies, but disruptions to production in the region, shipping blockades and hedging losses make the reality far more complicated. Exxon Mobil Corp. and Chevron Corp. lost about 6% of their …
Iran War Erodes Exxon, Chevron Profits Even as Oil Prices Soar Read More »
(Reuters) – Chevron said on Thursday it expected a $1.6 billion boost to $2.2 billion to its first-quarter upstream earnings versus the fourth quarter of 2025, driven by surging oil and gas prices from volatility linked to the Iran war. The conflict, which began on February 28, sent oil prices skyrocketing as much as 65%, …
Chevron Forecasts up to $2.2 Billion Rise in Upstream Earnings From Higher Q1 Prices Read More »
Summary Upstream earnings could gain from higher oil and gas prices Exxon to release full Q1 results on May 1 Downstream earnings hit by timing effects, but Exxon expects profits to rebound in later quarters CFO Hansen says negative impacts from trading program are temporary and will unwind over time (Reuters) – Higher oil and …
Exxon Signals Q1 Upstream Profit Bump From Iran War, Downstream Boost in Later Quarters Read More »
It may take months to begin to see the uptick in production from shale fields in places like the Permian Basin By David Wethe and Kevin Crowley United States shale drillers are expected to follow President Donald Trump’s call for higher oil production — but not just because he said so. The 68 per cent …
U.S. Shale Drillers Seen Lifting Crude Output on Hormuz-Driven Price Rally Read More »
