Economics/Statistics
News
August 06, 2021
Shale drillers are showing so much financial self-discipline that next year’s oil-production forecasts may be in peril, according to Tudor, Pickering, Holt & Co.
News
August 06, 2021
The reopening of major economies has triggered a surge in commodity prices, with crude up around 40% this year. In the past two weeks, oil companies such as BP Chevron and Royal Dutch Shell have said they will increase share buybacks and payouts, confident the worst of the pandemic is over.
News
August 06, 2021
Saudi Arabia’s move to push up the cost of its oil in Asia may backfire as an outbreak of the delta virus variant in China damps demand, while the U.S. and Russia offer more competitively priced alternatives.
News
August 05, 2021
Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand.
News
August 05, 2021
Brazil’s state-controlled oil company saw its earnings surge to a record for the second quarter, providing relief to investors who were rattled by a messy management change earlier this year.
News
August 05, 2021
Delta’s spread is challenging the global recovery, which had driven prices of commodities to multiyear highs late last month. The impact of the latest Chinese outbreaks can already be seen, with traffic thinning on some of the country’s typically busy city roads and raising concerns about near-term fuel demand.
News
August 05, 2021
From 2019 to 2020, petroleum consumption decreased in every energy-consuming sector in the United States, including a record 15% decrease in the transportation sector.
News
August 04, 2021
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market.
News
August 04, 2021
Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch.
News
August 04, 2021
With more consolidation brewing in the largest U.S. oil patch, the boss of one of the largest independent shale producers says he’s not interested, and warned that investors are still skittish about deals.
News
August 04, 2021
West Texas Intermediate futures tumbled 3.4% to close at the lowest in more than two weeks. The delta variant of Covid-19 has been detected in almost half of China’s 32 provinces in two weeks, and at least 46 cities have advised residents against non-essential travel.
News
August 03, 2021
“One of the negatives of this quarter has been some horrible hedging; guys locked in at $42 a barrel,” Paul Sankey, the veteran oil-industry analyst and founder of Sankey Research LLC.
News
August 03, 2021
Benchmark U.S. oil futures have advanced 45% this year and at that pace are on track for the biggest annual increase since 2016. In returning so much cash to shareholders, shale drillers are showing they will pass on gains from higher crude prices rather than use them to increase production.
News
August 03, 2021
ConocoPhillips beat estimates as rising commodity prices led America’s biggest independent oil producer to the highest profit in nearly three years.
News
August 02, 2021
The nation estimates it will need as much as $1.3 billion to buy a 37% stake in the Deep Water Tano/Cape Three Points asset operated by Aker Energy AS and 70% stake of the South Deep Water Tano field operated by AGM Petroleum Ghana Ltd., according to a parliamentary proceeding on Monday.
News
August 02, 2021
The virus is clouding the outlook for consumption as China faces a fresh outbreak, Thailand expands its quasi-lockdown measures and infections in Sydney matched a record. Meanwhile, data indicated China’s economic activity eased in July and U.S. manufacturing data also showed some weakness.
News
July 30, 2021
Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell's portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people said.
News
July 30, 2021
Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah.
News
July 30, 2021
Exxon Mobil’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders.
News
July 29, 2021
Europe’s largest oil and gas companies are showing confidence that the era of big profits is back by significantly boosting returns to shareholders.
News
July 29, 2021
Royal Dutch Shell raised its dividend by almost 40% and said it will buy back $2 billion of shares, continuing an effort to win back investors as stronger oil prices and a buoyant chemicals market lifted earnings.
