Category: Crude oil

U.S. crude output rises to highest since 1980s on shale boom

U.S. crude production climbed to the highest level in at least three decades last week as the shale boom moved the country closer to energy independence.  More »

Statoil suffers first loss on oil-sands project, crude drop

Statoil ASA, Norway’s biggest energy company, reported its first quarterly loss since listing in 2001 after writing down the value of an oil-sands project in Canada and struggling with plunging crude prices.  More »

Anadarko CEO: Lower oil prices could bring more acquisitions

A decline in oil prices may offer up discounts for key acquisitions in Colorado and elsewhere, Anadarko CEO Al Walker said.  More »

OPEC head tells oil market to stop panicking about prices

Crude collapsed into a bear market this month as Saudi Arabia and other producers deepened price discounts for their oil.  More »

Calls for $100-a-barrel oil show many betting on rebound

Higher prices will be back soon enough because the current slowdown in demand growth will prove fleeting, many in the market are saying.  More »

Oil & gas industry standards could be beneficial, but obstacles abound

Standards sound great, but I see obstacles to their adoption. I’ll outline those this week, and, since no one likes people who complain about problems but never offer any solutions, I’ll share some thoughts on how to overcome these issues.  More »

Hess announces plans to proceed with $6 billion Gulf project

The announcement comes at a time when many observers have questioned what sliding oil prices will mean for the future of the oil industry.  More »

Commentary: Lower crude prices aren’t all bad for the industry

Lower crude prices bring benefits to the industry.  More »

Anadarko profits jump on U.S. oil production

Anadarko Petroleum Corp.’s net income surged fivefold in the third quarter.  More »

Oil futures rise with consumer confidence report

Oil for December delivery rose 42 cents, or 0.5 percent, to settle at $81.42 a barrel on the New York Mercantile Exchange.  More »

BP CFO: $70 oil would threaten Big Oil projects

The Big Oil industry’s prized projects won’t face major cuts unless oil prices fall below $70 a barrel, BP’s chief financial officer told investors on Tuesday.  More »

Barclays cuts oil-price forecasts on world supply surplus

Barclays Plc cut its oil-price forecasts for the second time this month, citing expectations that OPEC won’t cut supplies sufficiently to remove a global surplus.  More »

Goldman Sachs: Expect U.S. crude to fall to $70 next year

The decline is due to oil production growing at a faster pace than demand, leading to global oil market that’s oversupplied.  More »

PE firm Warburg Pincus raises $4B for energy investments

A private equity shop that lured the former U.S. Treasury Department chief to the firm last year has collected $4 billion for its first energy fund to pour cash into U.S. oil explorers and other companies.  More »

Carrizo snaps up Eagle Ford acreage for $250M

The debt-funded deal closed late last week, but Carrizo said it is scheduled pay the bulk of the purchase price by February.  More »