CNBC Oil prices edged lower on Friday, and were on course for their steepest weekly loss in three months, as investors weighed weaker-than-expected U.S. jobs data and the timing of a Federal Reserve interest rate cut. Brent crude futures for July were down 71 cents, or 0.85%, to settle at $82.96 a barrel. U.S. West Texas Intermediate crude for June
World Oil (WO) — ExxonMobil has finalized its acquisition of Pioneer Natural Resources Company, marking a significant transformation in its upstream portfolio. The acquisition, completed on May 3, sees ExxonMobil more than doubling its footprint in the Permian basin, combining Pioneer’s substantial acreage and industry expertise with ExxonMobil’s technological prowess and financial strength. This merger creates an unconventional business with
World Oil (Bloomberg) — The Federal Trade Commission’s allegations that shale trailblazer Scott Sheffield tried to collude with OPEC to prop up crude prices is unnerving U.S. oil executives pursuing more than $100 billion in deals. While Thursday’s green light from the FTC for Exxon Mobil Corp.’s $60 billion takeover of Pioneer Natural Resources Co. provided some relief to an
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 8 over last week, resulting in a total count of 605 rigs. Canada had a decrease of 2 over last week, resulting in a total Canadian count of 120 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford,
US News LONDON/HOUSTON – Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and Russia had already
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