Harbour Energy averaged a record 501,000 boed over the first nine months of the year, up 6 percent from a year earlier, and lifted full-year production guidance to 500,000-505,000 boed from 490,000-500,000 boed on strong operational performance and the integration of LLOG in the U.S. and Waldorf in the UK. Third-quarter production was 484,000 boed, […]
Iraq’s Minister of Oil Basim Mohammed Khudair Al-Abadi has confirmed that agreements have been reached with Chevron on a contract for the West Qurna-2 oil field, according to a ministry statement carried by the state Iraqi News Agency (INA). Under the agreement, the West Qurna-2 contract is to be signed before the end of the […]
The Trump administration started the process of a mammoth drawdown of the U.S. emergency oil reserve, issuing a request to exchange 86 MMbbl of crude oil.
The U.S. government is preparing to issue a general license allowing companies to pump oil in Venezuela, part of the Trump administration’s plan to ease sanctions and rebuild the nation’s moribund energy industry.
Shale driller CrownRock is selling a stake in Occidental Petroleum it hopes to generate some $1.7 billion, Bloomberg has reported, citing unnamed sources.
Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark crude futures.
Nearly two years ago, British oil and gas supermajor BP Plc (NYS:BP) announced that the North Sea crude price Dated Brent, the company’s most important pricing benchmark, was experiencing “regular dislocations.”
The Department of Energy has canceled its offer for the purchase of 6 million barrels for the strategic petroleum reserve amid the latest surge in oil prices.
US energy firms last week cut the number of oil and natural gas rigs operating for the 10th time in 11 weeks, Baker Hughes said in its latest report.
The rig count, an early indicator of future output, fell by five to 675 in the week ended July 14.
The energy services firm said that puts the total count down by 81 rigs, or 11 percent, below this time last year.
The total number of total active drilling rigs in the United States fell by 5 this week, after a 6-rig increase last week, according to new data from Baker Hughes published Friday.