(World Oil) – Ukraine overnight targeted three drilling platforms in the Caspian Sea owned by Russian oil major Lukoil in the latest move to weaken Russia’s economic capacity to fund its war effort. The platforms, V. Filanovsky, Yuri Korchagin, and Valery Grayfe, sustained direct hits, the General Staff of the Armed Forces of Ukraine said on its Telegram channel. The
(Investing) – LONDON – Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela. Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was
(Investing) – HOUSTON – U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes them to boost output in Venezuela – a move that would weaken the oil market, cut revenues and hurt industry at home. Trump has enacted policies that he says would unleash American energy and lower prices at the pump
(World Oil) – The Trump administration is unlikely to provide financial support to help U.S. oil companies revitalize Venezuela’s oil sector, Interior Secretary Doug Burgum said Friday, throwing cold water on hopes the multibillion-dollar effort would be subsidized by the U.S. government. “The capital is going to come from the capital markets and come from the energy companies,” Burgum, who
(BOE Report) – U.S. oil executives being summoned to the White House on Friday to discuss potential investment plans in Venezuela will be carefully weighing the country’s business potential and enthusiasm from President Donald Trump with a more cautious sentiment being expressed by some of their investors. Secretary of Energy Chris Wright, speaking at a Goldman Sachs energy conference in
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 2 last week, resulting in a total count of 544 rigs. Canada had a decrease of 96 over last week, resulting in a total Canadian count of 197 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash region experienced an increase this week.
(Oil Price) – Russia’s crude oil production dipped to 9.326 million barrels (bpd) in December, down by over 100,000 bpd from November and nearly 250,000 bpd lower than Moscow’s OPEC+ quota, sources familiar with classified government data told Bloomberg on Friday. The fresh U.S. sanctions on Russia’s top producers Rosneft and Lukoil drove the lower crude output at the end of last year.
(Oil Price) – Oil prices rose early on Friday as protests in Iran continued to escalate, unnerving market participants that one of the biggest oil producers in the Middle East could see supply threatened. Both the WTI and Brent benchmarks traded about 0.7% higher as of 8:05 a.m. ET, as the market assessed potential risks to supply from the ongoing unrest
(Investing) – WASHINGTON/SINGAPORE – The U.S. has seized the Olina tanker in the Caribbean, the fifth vessel targeted in recent weeks as Washington steps up efforts to curb Venezuelan oil exports, U.S. officials said on Friday. The Olina, which according to public shipping database Equasis was falsely flying the flag of Timor Leste, previously sailed from Venezuela and had returned
(World Oil) – Vickery Energy Partners has closed the acquisition of natural gas assets in the Appalachian basin from Tribune Resources, adding approximately 38,000 net acres and more than 200 MMcfe/d of net production across Wetzel, Tyler, Harrison and Doddridge counties in West Virginia. The assets include development inventory in both the wet and dry windows of the Marcellus Shale, providing
(World Oil) – ConocoPhillips, ExxonMobil and other U.S. oil companies are examining what role they can play in helping revitalize Venezuela’s energy industry, US Energy Secretary Chris Wright said following talks with executives. “Maybe we’ll get to a framework where they’ll go in in a large way again, but in the meantime, they’re not going to sit on their hands,”
(Oil Price) – Chinese energy companies with operations in Venezuela have asked the government for guidance in how to protect their investments in the South American country now that the United States has effectively taken control of its oil industry. The information comes from Bloomberg, which cited unnamed sources as saying CNPC had been the leader of the group to broach
