Category: Crude oil

Cabot’s profits slip 62 percent amid lower oil prices

The Houston-based company said it offset plunging prices by ramping up output in the first quarter.  More »

Saudi Arabia’s solution to global oil glut: Pump even more crude

The world’s biggest oil exporter now has incentive to maximize output and undermine rival producers by using its reserve capacity.  More »

Oil at $65 seen freeing 500,000 barrels from shale fracklog

Producers in oil and gas fields from Texas to Pennsylvania have 4,731 idled wells at their disposal.  More »

Quotable CERAWeek: Memorable lines from energy industry leaders

The new reality of oil, was the biggest topic, and the executives who took the stage focused on detailing how their companies would survive.  More »

Report: Man-made earthquakes shake over a dozen areas in US

The man-made quakes jolted once stable regions in eight states, including parts of Alabama, Arkansas, Colorado, Kansas, New Mexico, Ohio, Oklahoma and Texas, according to researchers at the U.S. Geological Survey.  More »

CERAWeek Commentary: American oil CEOs avoid climate change talk, while Euro counterparts take it head on

No fewer than three U.S. oil executives attending IHS Energy CERAWeek have said government regulations need to be based on science, not public sentiment. Yet not one of them talked about the scientific consensus acknowledging global climate change.  More »

Richard Kinder at CERAWeek: Industry hides from public “like we’re selling cigarettes”

Kinder said in an interview that oil and gas leaders hadn’t done enough to show how important the industry is  More »

CERAWeek: Refiners need more infrastructure to process the surge of U.S. crude

Revitalized North American crude production has created abundant sources of oil for refineries to process, but has raised the challenge of how to move it from the field to refineries.  More »

Transocean names new CEO

Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.  More »

CERAWeek: Pemex CEO Lozoya says company will halt production decline by 2016

An infusion of talent and capital from private companies will breathe new life into the company’s ailing production, CEO Emilio Lozoya said.  More »

CERAWeek: The Strategic Petroleum Reserve needs a makeover

The nations’ strategic oil stockpile may need to be brought into the modern era, experts told CERAWeek attendees.  More »

CERAWeek: OPEC’s not dead, just different

OPEC no longer has the same stranglehold over oil markets it once had, but it’s wrong to declare the cartel dead, a panel of Middle East experts and analysts said Tuesday.  More »

Rex Tillerson at CERAWeek: Oil industry will survive, but government should step aside

Government regulators need to get out of the way and give oil companies the freedom to innovate to enable “safer, more secure and more efficient production”, Rex Tillerson said at CERA Week.  More »

CERAWeek: Total CEO not eyeing U.S. unconventionals

The factory drilling that marks unconventional oil and gas development requires a totally different business model and skill set than traditional plays, Total’s CEO said.  More »

CERAWeek: Oil tool makers say upstream discounts unlikely to climb high

Though the industry expects operational and construction costs for oil-production projects to fall up to 40 percent this year, prices for tools and services probably won’t crumple that much, a panel of energy experts said Tuesday.  More »
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