Juxtaposed with the 45th birthday of comedian Sarah Silverman, the crude complex is looking rather surly and serious today. While the OPEC meeting and Nonfarm Friday lurks (like an 800-pound gorilla) at the end of the week, a new month brings an onslaught of economic data to weigh up, kicked off overnight by Chinese manufacturing. The […]
Norway’s oil companies reduced their exploration-spending forecast for next year by 35 percent from the previous quarter’s estimate, and foresee a “sharp decline” in the number of offshore wells, Statistics Norway said.
Europe will be the battleground between producers of sour crude grades, including Russia, Iraq, Saudi Arabia and Iran, as the Asian market becomes more “crowded,” the Paris-based IEA said in its monthly report.
A carbon tax or cap-and-trade system in the U.S. — and globally — would serve the energy industry better than the current slate of piecemeal state and federal regulations, Shell Oil Co. President Marvin Odum said Tuesday at a University of Houston energy symposium on “Carbon Tax: Is It the Right Time?”
Offshores drillers such as Transocean Ltd., Seadrill Ltd. and Fred Olsen Energy ASA have been caught in a double whammy of falling demand for their services and a glut of new rigs coming into the market.
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