Category: Crude oil

The oil industry’s $26 billion life raft

The swift decline in U.S. oil prices — $107.26 on June 20, $46.39 seven months later — caught market participants by surprise.  More »

Apache Corp. is exiting Australia with a $2.1 billion asset sale

The assets produced the equivalent of about 49,000 barrels of oil a day in March.  More »

Will an M&A wave follow Shell-BG? Investors hope, dealmakers doubt

Corporate dealmakers and analysts say they doubt it’s a sign that a new wave of oil and gas deals like the spending spree of the late-1990s is just around the corner, especially among financially healthy U.S. oil producers.  More »

ConocoPhillips stresses shale through 2017

Flexible spending and disciplined growth will help ConocoPhillips meet its 2017 goals, executives said Wednesday.  More »

The CEO of BG just arrived in February, and could walk with $43 million

Lund, who joined BG on Feb. 9 after heading Norway’s Statoil ASA, is entitled to liquidated damages equal to a year’s gross salary and 30 percent of base pay, the Reading, England-based company’s annual report showed.  More »

Shell’s BG deal adds to North Sea job concern after oil collapse

Shell, employing about 2,400 across the North Sea, targets $2.5 billion of pretax “synergies” a year across the globe from the deal, including staff cuts.  More »

Cheniere cleared to expand Sabine Pass LNG

Federal regulators approved plans to expand Sabine Pass LNG amid growing skepticism about the viability of such projects.  More »

Saudi Arabia sees crude price rising as it boosts oil production

OPEC kept output targets steady at its meeting in November, focusing on maintaining market share rather than supporting prices. The group meets next in June.  More »

Buying BG will ease Shell’s struggles with scandle-plagued Petrobras

With Petrobras engulfed in Brazil’s largest ever corruption scandal, BG and other partners are struggling to communicate with the state-controlled producer’s management to address delays to development plans.  More »

Shell sets $70 billion deal to buy BG Group

Shell said that bringing the two companies together would produce financial gains of about $2.5 billion a year.  More »

The U.S. is still the world’s biggest hydrocarbon producer

The gap between the U.S. and its next two closest rivals has expanded in dramatic fashion since 2011.  More »

EIA: Lifting Iran sanctions could send oil prices down as much as $15

The high end of the Energy Information Administration’s prediction would bring 2016 Brent crude from $75 per barrel to about $60 per barrel, or just a few dollars above Tuesday’s ending price of $59.10.  More »

Royal Dutch Shell in talks to acquire BG Group

Buying BG would be Shell’s largest acquisition since the $60.3 billion merger of its Dutch and U.K. parent companies in 2005.  More »

Noble Energy cuts 220 jobs

Noble Energy has slashed 220 jobs, the company announced Tuesday, joining a growing list of oil firms trimming their rolls as they struggle to rein in spending amid falling oil prices.  More »

Plains boosts distribution for first quarter 2015

Pipeline company Plains All American said it would pay its unitholders $0.685 in May.  More »