Editor's Choice

MARKET WATCH: Crude benchmark prices drop pending likely OPEC production increase

06/20/2018 Light, sweet crude oil prices fell on the New York market June 19 as did Brent crude prices in London while oil ministers gather in Vienna for a June 22 meeting of the Organization of Petroleum Exporting Countries. OPEC and other major produc...

Oil giants' goals require $30B Permian investment

06/20/2018 Oil giants Exxon Mobil, Chevron and Royal Dutch Shell must ramp up spending to hit growth targets in the booming Permian Basin, spurring more consolidation and inflated oilfield services costs in the area, according to a new report released t...

Icahn gains control ofSandRidge Energy board in proxy fight

06/20/2018 OKLAHOMA CITY (Reuters) - Activist investor Carl Icahn on Tuesday won at least four seats on the board of SandRidge Energy (), winning a battle for control of the U.S. shale producer that he wants to sell to others or buy himself.

Growth of Global Petrochemicals Capacity Remains Robust with Increased Demand for Ethane Feedstock

06/20/2018

ExxonMobil, Hess make another offshore Guyana discovery

06/20/2018 Published 8:39 am, Wednesday, June 20, 2018 Exxon Mobil and Hess Corp. said Wednesday they've made their eighth oil discovery in the developing offshore fields of Guyana in northeastern South America.

Stakes high for Houston, Texas as OPEC considers lifting output caps

06/20/2018 The Texas oil boom and the higher crude prices that have driven it could take hits after OPEC meets in Vienna Friday, as the strengthening alliance between Saudi Arabia and Russia pushes the cartel to lift production caps and increase output.

Permian oil faces shut ins on pipe shortage: Interview from OPEC

06/20/2018 The biggest U.S. shale region will have to shut wells within four months because there aren't enough pipelines to get the oil to customers, the head of one of the industry's largest producers said.

Shell dumps interest in two Norwegian fields

06/20/2018 June 20 (UPI) -- Supermajor Royal Dutch Shell said Wednesday it sold off its entire stake in two fields in production off the Norwegian coast for $556 million. Shell's subsidiary in Norway sold its entire 44.56 percent interest in the Dra...

Luxembourg tax laws benefited ENGIE

06/20/2018 June 20 (UPI) -- Luxembourg needs to recover unpaid taxes from French energy company ENGIE because tax rulings gave it an unfair market advantage, the European Commission said. Margrethe Vestager, the European commissioner in charge of compet...

Expect moderate action from OPEC

06/20/2018 June 20 (UPI) -- Expect some sort of Goldilocks scenario from OPEC on future supplies, though talks under way in Vienna are increasingly contentious, a consultant group said. Ministers from the Organization of Petroleum Exporting Countries ar...

Trump erases Obama-era offshore rules

06/20/2018 June 20 (UPI) -- Executive action from the U.S. president eases offshore energy planning burdens, an industry group said, though critics said it was a war on oceans. President Donald Trump signed an executive order Tuesday that supports acces...

US crude inventories plummet

06/20/2018 By Markets/commodities reporter The American Petroleum Institute reported Tuesday that U.S. crude supplies fell by 3 million barrels for the week ended June 15, according to sources. The API data, however, showed a climb of 2.1 million barrel...

Canada's Baytex to buy oil producer Raging River for C$2.8 billion

06/19/2018 (Reuters) - Baytex Energy Corp will buy rival Raging River Exploration Inc for C$2.8 billion ($2.13 billion), the Canadian oil and gas producer said on Monday, becoming the latest company to bet big on Canada's vast shale reserves.

FERC upholds approval of Mountain Valley Pipeline project

06/19/2018 A federal agency that green-lighted construction of the Mountain Valley Pipeline with a key approval last year has voted 3-2 to uphold its decision. The Federal Energy Regulatory Commission denied a request for a rehearing filed by pipeline o...

North Dakota OKs refinery construction near national park

06/19/2018 BISMARCK, N.D. (AP) - North Dakota's Health Department issued a permit Wednesday allowing construction of an oil refinery about 3 miles (5 kilometers) from Theodore Roosevelt National Park, a project opposed by several national and regional c...

U.S. energy companies, producers seek relief from steel tariffs

06/19/2018 HOUSTON (Reuters) - Major U.S. energy companies including Plains All American Pipeline (), Hess Corp () and Kinder Morgan Inc () are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with ...

Russia, Saudi push for big oil output hike despite Iran opposition

06/19/2018 VIENNA (Reuters) - Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.

Is focus on pipeline cyber security ruse to prop up coal?

06/19/2018 WASHINGTON - More than 300,000 miles of natural gas transmission lines crisscross the United States, fueling electricity and industrial plants and heating homes, while also providing an alluring target for hackers looking to disrupt the Ameri...

OPEC faces a bigger problem in Washington than Trump tweets

06/19/2018 American politicians are at it again: punching OPEC. The cartel has often been a bogeyman for U.S. politicians since the first oil crisis in 1973. Now OPEC is facing a renewed political assault in Washington, directly from President Trump'...

Struggling Energy XXI sold for $322 million

06/19/2018 Updated 10:18 am, Monday, June 18, 2018 Houston offshore driller Energy XXI Gulf Coast agreed Monday to be bought by a privately held Dallas company, Cox Oil, for $322 million. Energy XXI emerged from bankruptcy more than a year ago, but cont...

Alaska's governor to issue plea to avert trade war

06/19/2018 June 19 (UPI) -- With energy resources on the line, Alaska Gov. Bill Walker said he was heading to Washington next week to discuss trade tensions with U.S. and Chinese officials. "Next week, I will meet in Washington with leaders from both go...

Trump's tweets 'seemingly' switched Saudi Arabia's production policy

06/19/2018 OPEC kingpin Saudi Arabia appears to have altered its approach to oil production in the wake of repeated Twitter attacks from President Donald Trump, RBC's Helima Croft told CNBC's "Squawk Box Europe." The U.S. president accused OPEC of being...

Iran may have to wait for OPEC considerations

06/19/2018 June 19 (UPI) -- Considerations at OPEC for the loss of Iranian barrels to unilateral U.S. sanctions might have to wait until the fourth quarter, an Oxford analysis read. The Oxford Institute for Energy Studies published its case study on the...

Equinor awards drilling, well service contracts worth NOK 30 billion

06/19/2018 The Grane platform in the North Sea. (Photo: Harald Pettersen / Equinor ASA) Equinor is awarding new service contracts to Baker Hughes Norge, Halliburton AS and Schlumberger Norge AS for integrated drilling and well services on most of the Eq...

From Forbes: Is Saudi Spare Oil Production Capacity Real Or Truthful Hyperbole?

06/18/2018 The near-certainty that Venezuelan production will collapse, along with ongoing problems in Libya and possible Iranian difficulties selling oil after the U.S. denounced the nuclear agreement, have raised worries about the ability of Saudi Ara...