Saturday, January 11, 2025

Saudi Arabia May Target U.S. Refiners with 40% Oil Export Cut

From Bloomberg After flooding the U.S. market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks, in an effort to dampen visible build-ups in crude inventories. U.S. refineries given notice to expect lower shipments from Saudi in January; cut could test 30-year low American-based oil refiners have been told to

Pennsylvania Well Permits Drop 42% as Producers Seek Higher Output from Fewer Wells

From Argus Media Pennsylvania issued 146 drilling permits in November, down by 42pc from a year earlier as producers pursued higher output from fewer wells. The number of permits issued in November was also down from the 210 issued in October, signaling a shift to less drilling as the weather in Appalachia turns colder. Pennsylvania had below-freezing temperatures on the

Alberta’s Mandatory Curtailments Manufacture Some Problems — Suncor Sets 2019 Spend in $5 Billion Range

Suncor said its 2019 upstream capital program is going to be $4.9 billion to $5.6 billion to achieve average upstream production of 780,000 to 820,000 barrels of oil equivalent per day (BOEPD) for 2019. The midpoints of these ranges represent a flat capital spend compared to 2018 and a year over year production increase of approximately 10%, including estimated mandatory