The odds of oil prices remaining below $55 for the foreseeable future has put a big dent in enthusiasm for shale gas plays.
The Governor's Energy Office says the price of heating oil in Maine has nosed up slight over the past few weeks. The statewide average cash price for No. 2 heating … Click to Continue »
By David Wethe and Joe Carroll (Bloomberg) — Transocean Ltd. dropped to the lowest in more than two decades as investors panned its deal to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. Show More Summary
Crude oil prices declined on the EIA's weekly report showing a rise in production.
Will Saudi Arabiaâ??s commanding position as a hub for highly-paid expat professionals end due to oil price falls and wars? As with the rest of the Gulf States, expat workers at all levels make up the majority of Saudi Arabiaâ??s total population. Increasing financial pressures and restrictive laws are expected to eventually cause the... Expats Blog -
By Liz Hampton HOUSTON (Reuters) - Mergers among offshore oil drillers are raising hopes that consolidation could bring relief to a sector struggling to emerge from an industry downturn triggered by low crude prices. Transocean Ltd,Show More Summary
Following last night's mixed mesage from API (crude draw, gasoline build), WTI prices have gone nowhere as all eyes focus on DOE data this morning. Confirming API's trend, crude saw its biggest draw since Sept 2016 but Gasoline, Distillates, and Cushing (most since March) saw builds which upset the machines and sent prices lower. Show More Summary
By Mikael Holter and David Wethe (Bloomberg) — Transocean Ltd. agreed to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. The enterprise value is about $3.4 billion, half of which is Songa debt assumed by the combined entity, the companies said. Show More Summary
Authored by Irina Slav via OilPrice.com, Two analyst firms have revised upwards their production growth forecasts for the Permian, expecting oil output there to be 300,000 bpd higher by the end of this year. The firms are none otherShow More Summary
FRACKERS ARE HEROES: Are OPEC’s Cuts Working? The oil cartel OPEC and a coalition of non-member petrostates agreed nine months ago to reduce their collective production in an attempt to inflate oil prices. It’s been almost eight months since that group has put that plan into action, and there’s seven more months of output cuts […]
More money is expected to flow into New Mexico's coffers thanks to positive investment returns stemming from a bullish stock market and recovery in the oil and natural gas sector, … Click to Continue »
A surprise discovery coming out of Utah and Colorado's Paradox Basin oil field has captured the attention of the petroleum sector today. Over 9 billion barrels equivalent, to be exact -- which if fully realized in today's oil price structure comes at a value of $450 billion. Show More Summary
Slowly but surely, what we have claimed for the past year - that it is the demand side of the oil equation, not the supply, and especially the "Chinese wildcard" that is the critical factor in setting prices - is starting to emerge and be factored in by markets. Show More Summary
Authored by Michael Kern via Crypto Insider, Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional gold in...Show More Summary
CARACAS ( Reuters) - Venezuelan state oil company PDVSA's revenue from oil and fuel sales in 2016 dropped 34 percent from the previous year to $48.0 billion, the company said in its annual financial results published Friday night, hurt by lower production and oil prices.
With oil prices at a sustained low, you might wonder why do my award tickets incur so many fees? Carriers got wise to the fact that they could no longer tack on exorbitant “fuel surcharges” and avoid the scrutiny of regulators when the price of oil dropped by more than 50%. Show More Summary
FOREVER’S A MIGHTY LONG TIME: Big Oil Is Planning to Produce at $50 Forever. The Middle East still produces a huge amount of oil, and a war or other disruption there could still send prices soaring — temporarily. But, yes, with North America’s proven reserves and lower-cost fracking technologies, the days of $100 oil aren’t […]
Authored by Nick Cunningham via OilPrice.com, Oil investors have grown more optimistic as of late, as oil prices have moved back to $50 per barrel. The market appears to be on sounder footing, suggesting that things will gradually tighten for the rest of the year. Show More Summary
This is how to make your own "ferripaste" at home. All it takes is black iron oxide to motor oil mixed in a 1 to 1 ratio. Iron oxide has some of the most magnetic properties that can be found in nature and when mixed with the motor oil,...Show More Summary