November 29, 2022 – Oil & Gas 360

Apache reports rare disappointment in Suriname

November 29, 2022

Oil Price Joint venture partners APA Corporation and TotalEnergies have declared the Awari exploration well offshore Suriname “noncommercial” in a rare disappointment for investors in a block that has seen five discoveries since 2020. TotalEnergies completed drilling the Awari well, failing to find commercial hydrocarbon volumes, APA said in a press release. “Drilling operations have concluded at the Awari exploration

Goldman Sachs sees ‘high probability’ of OPEC cut — and expects oil prices to hit $110 next year

November 29, 2022

CNBC A group of some of the world’s most powerful oil producers is highly likely to take further measures to stem a price decline and try to balance the market, according to Goldman Sachs. OPEC and non-OPEC producers, an influential energy alliance known as OPEC+, will convene in Vienna, Austria on Dec. 4 to decide on the next phase of

Biden administration proposes new rules to curb gas flaring

November 29, 2022

Oil Price The Biden administration has proposed a set of new rules aimed at curbing gas flaring on public lands, with the Bureau of Land Management saying these measures would result in $39.8 million in additional royalties for the United States. Per the proposal, every company applying for an oil and gas drilling permit must submit with it a plan for

US to auction nearly 1 million acres off Alaska for oil drilling

November 29, 2022

World Oil (Bloomberg) — The Biden administration plans to offer hundreds of thousands of acres off the coast of Alaska for new oil and gas drilling next month, a sale mandated in Democrats’ Inflation Reduction Act to win the support of holdout West Virginia Senator Joe Manchin. The auction of more than 958,000 acres in Alaska’s Cook Inlet next

Oil prices jump as market eyes another possible OPEC+ cut

November 29, 2022

Oil Price Crude oil prices jumped on Tuesday ahead of the next OPEC+ meeting as the group dispelled earlier rumors that it could agree to increase crude oil production at its next meeting. The cost of Brent crude rose $2.07 by 9:45 am ET, to $85.26 per barrel. WTI rose $1.66 per barrel to $78.90—although both benchmarks are still considerably lower than this

U.S. natgas futures rise on forecasts for cooler December weather

November 29, 2022

BOE Report U.S. natural gas futures edged up about 1% to near a one-week high on Tuesday on forecasts for cooler weather through mid-December than previously expected. That price increase, however, was limited by forecasts for less gas demand over the next two weeks than previously expected. In addition to colder weather, which will boost the amount of gas

Suncor Energy Announces 2023 Production Outlook and Capital Program

November 29, 2022

Calgary, Alberta–(Newsfile Corp. – November 29, 2022) – Suncor Energy (TSX: SU) (NYSE: SU) relea…

Suncor Energy to Retain and Optimize its Petro-CanadaTM Retail Business

November 29, 2022

Calgary, Alberta–(Newsfile Corp. – November 29, 2022) – Suncor Energy’s (TSX: SU) (NYSE: SU) Boa…

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