April 28, 2021
Via: Transport TopicsOil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. Futures jumped as much as 2.2% […]
Energy, Industry Focus Areas, Regulations
April 19, 2021
Via: The Wall Street JournalWASHINGTON—Federal officials aren’t adequately monitoring the integrity of 8,600 miles of active oil-and-gas pipelines on the Gulf of Mexico’s seafloor, and for decades have allowed the industry to abandon old pipelines with little oversight, a new report to Congress shows. […]
Energy, Industry Focus Areas, News
February 12, 2021
Via: Transport TopicsExxon Mobil Corp., Chevron Corp. and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings. The oil and gas producers’ […]
February 11, 2021
Via: The Wall Street JournalLONDON— Royal Dutch Shell PLC said it would start reducing oil production, calling an end to a decades-old strategy centered on pumping more hydrocarbons as it and other energy giants seek to capitalize on a shift to low-carbon power. The […]
December 14, 2020
Via: Transport TopicsExxonMobil Corp. announced several new emissions targets and said it would begin publishing pollution information related to customers’ use of its products for the first time, just days after activist investors criticized the oil giant for its environmental record. Exxon […]
December 7, 2020
Via: Transport TopicsOil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets. Crude futures were down 0.9% in New York, with the dollar rising and European equities and U.S. stock futures declining. Oil rallied last […]
November 30, 2020
Via: Transport TopicsOPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market. The coalition that pumps half the world’s crude is debating […]
December 12, 2018
Via: Industry WeekThe U.S. government left its forecast for domestic crude production unchanged for 2019 even with prices averaging almost $11 a barrel lower than its previous estimate. Oil producers will pump an average 12.06 million barrels a day next year, up […]
Energy, Industry Focus Areas, Process, Production
June 25, 2018
Via: Penn EnergyOKLAHOMA CITY (AP) — An economist at the Oklahoma City branch of the Federal Reserve Bank of Kansas City says oil and gas production is increasing but with fewer employees. Chad Wilkerson writes in the Oklahoma Economist that increased production […]
Energy, Industry Focus Areas, Process, Production
February 2, 2018
Via: Penn EnergyU.S. crude oil production reached 10.038 million barrels per day (b/d) in November 2017, according to EIA’s latest Petroleum Supply Monthly. November’s production is the first time since 1970 that monthly U.S. production levels surpassed 10 million b/d and the […]
August 16, 2017
Via: Industry WeekOil traded at a three-week low after a forecast on U.S. shale growth added to mounting worries that the rebalancing process is stalling. Futures fell 0.8% in New York after 2.5% decline on Augus4 14, the biggest drop in more […]
June 5, 2017
Via: ReutersAmid the frenetic activity of American shale oilfields recovering from a two-year recession sit a handful of oil towns that seemed impervious as many producers went into bankruptcy and the economy around them sank. Occidental Petroleum Corp and a few […]
April 27, 2017
Via: Penn EnergyProduction for February 2017 as reported to the Railroad Commission of Texas (Commission) is 70,332,051 barrels of crude oil and 527,710,713 mcf (thousand cubic feet) of total gas from oil and gas wells. These preliminary figures are based on production […]
October 14, 2016
Via: Penn EnergyNorth Dakota’s oil production in August dropped below 1 million barrels per day. The Department of Mineral Resources says the state produced an average of 981,039 barrels of oil daily in August, down from 1.029 million barrels of oil daily […]
October 4, 2016
Via: Penn EnergyUS crude oil production during July fell just 0.2% vs. the June average to 8.685 million b/d, according to the US Energy Information Administration’s Monthly Crude Oil and Natural Gas Production Report. The July US average was down 7.8% year-over-year. […]
August 29, 2016
Via: ForbesFrom searching the globe in search of oil deals with intense geopolitical ramifications like Sudan, Niger, Iraq and Venezuela, to cutting a controversial multi-billion dollar oil deal in Canada’s oil sands play, China has become all things to all people […]
May 9, 2016
Via: Penn EnergyIn 2015, more than 70% of the crude oil produced in the Lower 48 states was light oil with an API gravity above 35 degrees. At the same time, 90% of imported crude oil was heavier, with a gravity below […]