October 26, 2021 – Oil & Gas 360

Oil billionaire schools Biden on gas prices: ‘It’s all about economics 101’

October 26, 2021

Fox Business Continental Resources Chairman and founder Harold Hamm criticized Biden’s energy plan as the administration’s efforts to tackle climate change conjures up more challenges for the country. “You know it’s all about economics 101 and it doesn’t have to be this way,” the oil billionaire said during an interview on FOX Business’ “Mornings with Maria.” Last year, Hamm warned the price of gasoline would surge under

Democrats scramble to give Biden a climate win ahead of COP26 summit

October 26, 2021

World Oil WASHINGTON (Bloomberg) – Negotiations over the climate provisions in the Democrats’ spending bill have accelerated and are focused on a package of measures that could replicate the emissions reductions of a clean energy plan dropped from the draft legislation. The new proposals would expand grants and loans in the agriculture and industrial sectors to help them shift to

COLUMN-OPEC+ comfortable with rising price trend: Kemp

October 26, 2021

Nasdaq LONDON, Oct 26 – Rejecting calls from consuming countries for faster output increases, OPEC+ has warned about continuing risks posed by the coronavirus pandemic and a forecast rise in oil inventories next year. OPEC+ is currently raising its production target by 0.4 million barrels per day (bpd) each month, but has pushed back against calls to increase output faster

1 Cheap TSX Stock to Buy Ahead of Q3 2021 Earnings

October 26, 2021

Earnings season is underway, and investors are searching for top TSX stocks that look und…

Energy crisis divides European nations before emergency meeting

October 26, 2021

World Oil BRUSSELS (Bloomberg) –European Union energy ministers are set for another spat over how to cushion consumers and companies from soaring power and natural gas prices, with political and legal constraints leaving little room for immediate action. At an emergency meeting in Luxembourg on Tuesday, the ministers will discuss how the EU could complement measures already taken by member

Brent oil ‘scarcity premium’ widens as $100 a barrel forecast

October 26, 2021

Nasdaq LONDON, Oct 26 – The scarcity premium embedded in the structure of Brent crude oil futures has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally that pundits increasingly predict will push the market to $100 a barrel. The premium of the immediate Brent crude contract to the December 2022 price LCOc1-LCOc13 stood

Exxon CEO weighs higher pay to combat employee exodus

October 26, 2021

World Oil HOUSTON (Bloomberg) –Exxon Mobil Corp. is weighing salary increases as it tries to halt employee attrition across its business divisions after sweeping job and benefit cuts. Chief Executive Officer Darren Woods told employees at a town hall-style meeting that they should be “encouraged” by the ongoing salary-review process, according to a recording of the event. “The policies we’re

Crestwood Equity to boost U.S. shale footprint with $1.8 bln deal

October 26, 2021

Reuters Oil and gas pipeline operator Crestwood Equity (NYSE:) Partners LP will buy Oasis Petroleum (NASDAQ:) Inc’s midstream unit in a $1.8 billion deal to expand its footprint in U.S. shale basins. The cash-and-stock deal comes as oil and gas prices have touched multi-year highs, boosting shareholders’ confidence in the sector and encouraging mergers. “As the commodity price outlook remains favorable

Third-quarter profits to sparkle for shale producers without hedges

October 26, 2021

Reuters With oil and gas prices at multi-year highs, U.S. shale producers are poised to deliver the strongest earnings since the onset of the coronavirus pandemic, so long as they didn’t lock in sales tied to much lower prices. Sky-high oil and gas prices will fill energy companies’ bottom line, rewarding investors who hung on through the pandemic. U.S. crude

Is Kinder Morgan a Winner in the Oil and Gas Industry?

October 26, 2021

The energy sector has attracted much investor attention so far this year on rallying oil and …

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