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(Reuters) – U.S. field production of crude oil rose to a record high for a second week in a row last week, the U.S. Energy Information Administration (EIA) said in its weekly Petroleum Status Report on Wednesday. EIA said output reached 13.651 million barrels per day (bpd) during the week ended October 31, topping the …
US Crude Production Hits Record High for Second Week in a Row, EIA Says Read More »
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.2 million barrels to 421.2 million barrels in the week ended October 31, the EIA said, compared with analysts’ expectations in a Reuters poll for a 603,000-barrel rise. Crude stocks …
US Crude Stocks Rose Last Week, Gasoline and Distillate Inventories Fell, EIA Says Read More »
By Anthony Di Paola and Joumanna Bercetche The United Arab Emirates, long one of OPEC’s key oil producers, is pivoting to US-tested fracking techniques to tap its “very promising” unconventional gas resources, with the intention of ramping up output amid forecasts for surging demand. Abu Dhabi National Oil Co. is tapping new sources of natural …
UAE Oil Giant Leans on US Expertise for ‘Promising’ Shale Pivot Read More »
Deal values in the global energy sector have fallen about 6% this year By David Carnevali and Fareed Sahloul Low energy On this Tuesday a year ago, as US voters were handing Donald Trump the keys to the White House for a second time, M&A bankers were looking forward to the boom times; few more …
Oil & Gas: The One Sector Missing Out of M&A’s Big Revival Read More »
Ovintiv said on Tuesday it would buy the rest of NuVista Energy in a cash-and-stock deal valued at $2.7 billion, including debt, strengthening the shale producer’s presence in Canada’s Montney basin. Last year, the North American company had acquired oil assets from Canadian firm Paramount Resources in the Montney shale for $2.38 billion in cash. “This acquisition, combined with the …
Ovintiv Expands in Canada’s Montney Shale with USD $2.7 Billion Deal for NuVista Read More »
By Alex Lawler LONDON, Nov 4 (Reuters) – OPEC’s oil output rose further in October after an OPEC+ agreement to raise production, a Reuters survey found on Tuesday, though the scale of the increase slowed sharply from September and the summer months. The Organization of the Petroleum Exporting Countries pumped 28.43 million barrels per day …
OPEC Oil Output Rises by 30,000 bpd in October, Survey Finds Read More »
(Reuters) – Oil major BP won its $1 billion-plus arbitration case against liquefied natural gas producer Venture Global with an argument of unfair behaviour by the U.S. company, said five sources close to the matter, shedding light on strategy that could be used by claimants in parallel cases. BP won its case in October, two …
How BP Won its $1 Billion-Plus Case Against Venture Global Read More »
*CEO says Paris Agreement climate goals out of reach*Oil demand expected at 98 million barrels per day in 2050 *Demand forecast has risen versus last year’s report *CEO cites concern over energy security, prices By America Hernandez PARIS, Nov 4 – French oil major TotalEnergies sees global oil demand rising through 2040 before gradually dropping off, as …
Activist investor Kimmeridge on Tuesday called on Coterra Energy to overhaul its leadership and strategy, saying the 2021 merger of Cabot Oil & Gas and Cimarex Energy has failed to deliver value and left it trading at a discount to its peers. In an open letter, the private investment firm urged the board to appoint …
Kimmeridge Calls for Overhaul at Coterra, Says 2021 Merger a Failure Read More »
By Anthony Di Paola Darren Woods Photographer: David Paul Morris/Bloomberg Abu Dhabi’s Upper Zakum offshore oil field is likely to reach its target for expanding production capacity ahead of schedule, said Exxon Mobil Corp. Chief Executive Officer Darren Woods. Upper Zakum, which Exxon has developed in partnership with Abu Dhabi’s government-owned producer and Japan’s Inpex …
Giant Abu Dhabi Oil Field Could Hit Target Early, Says Exxon CEO Read More »
