Category: Crude oil

Openness, honesty needed from the oil & gas industry to address climate change

I love working in this industry: the people are great and I really like working with and around all the technology it implements. That said, I do care about the environment, so I hope the industry will join me in furthering efforts to produce energy in a safe, ethical, and environmentally conscious way.  More »

U.A.E. concerned that oil glut may curb exploration, production

“What worries us is that some investors will not continue to invest,” United Arab Emirates’ Energy Minister Suhail Al Mazrouei said.  More »

OPEC’s choice in Vienna meeting will determine role in new oil order

The Organization of Petroleum Exporting Countries could reassert control by cutting output, ceding more market share to U.S. shale oil producers.  More »

Brent oil falls to 4-year low as WTI slides on stockpiles

Crude is extending losses in a bear market amid signs that global demand isn’t keeping pace with supply.  More »

Transocean to retire more rigs, execs say

Transocean lost billions of dollars in the third quarter as it faced sinking demand for offshore rigs and as it wrote down the value of its drilling business.  More »

No OPEC output cut this month, Kuwait oil minister says

OPEC members Saudi Arabia and Kuwait have resisted calls to cut output while Libya, Venezuela and Ecuador have asked for action to prevent even lower prices.  More »

Russia, China add to $400 billion gas deal with accord

Russian oil firm OAO Gazprom is negotiating the supply of as much as 30 billion cubic meters of gas annually from developments in West Siberia to China over 30 years.  More »

U.S. jobs report helps send oil prices higher

Oil for December delivery rose 74 cents to settle at $78.65 a barrel on the New York Mercantile Exchange.  More »

Output cut talk builds ahead of OPEC Vienna meeting

Here’s how four analysts across Europe and the U.S. see the Nov. 27 meeting playing out.  More »

Apache optimistic about U.S. shale as profits slip

Apache Corp. reiterated plans to double down on its positions in prolific U.S. shale plays even as crude prices continued to fall and the company’s profits slipped from last year.  More »

Plains to buy half of BridgeTex in $1.1 billion deal

The pipeline is a major artery for the basin with a capacity of 300,000 barrels per day of crude.  More »

OPEC’s weak links feeling pain

While the Saudi Arabia is as flush with cash as ever, the finances of some fellow OPEC members are deteriorating quickly.  More »

Libya’s biggest oilfield to resume output soon, official says

Sharara was shut as a precaution after gunmen stormed the on-site production compound.  More »

Plains All American profits up 40 percent

Plains All American set its course forward into a more uncertain energy market with a flurry of deals and third-quarter results propelled higher by the flood of crude flowing from shale plays.  More »

Oil rises after inventory report

Oil for December delivery rose $1.49 to settle at $78.68 a barrel on the New York Mercantile Exchange.  More »