Industry Trends
News
April 21, 2022
Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine.
News
April 21, 2022
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing.
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April 20, 2022
Baker Hughes Co. tumbled by the most in two years after warning that sales in Russia would continue to erode amid sanctions on the warring nation.
News
April 20, 2022
The combined entities will offer advanced milling and swarf handling services to deliver permanent, verifiable, emission-free well barriers and highly predictable alternative zonal isolation solutions to the plugging and abandonment industry.
News
April 20, 2022
The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment.
News
April 19, 2022
Spears & Associates Managing Director Richard Spears’ talk, titled, How extreme financial discipline impacts drilling activity in 2022 and 2023, outlined what has caused oil companies to display uncharacteristic financial restraint, despite surging oil prices.
News
April 19, 2022
Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast.
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April 13, 2022
Russia will find new buyers for its oil, natural gas and coal both at home and abroad as some traditional customers reject its deliveries, said President Vladimir Putin.
News
April 13, 2022
As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022. The $6 billion transacted in January was the strongest M&A market launch in five years.
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April 12, 2022
Some of the largest firms are already voluntarily divulging their greenhouse-gas emissions, but the lack of government regulation and unified reporting underscores the challenges investors face when comparing inconsistent data across companies.
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April 08, 2022
DTEK CEO Maxim Timchenko said the Ukrainian people and armed forces of Ukraine have demonstrated persistent and strong resistance in facing the Russians, while DTEK Group has made its contribution to a Ukrainian victory.
News
April 07, 2022
Exxon Mobil Corp. and Chevron Corp. investors will vote on shareholder demands to curb pollution amid growing pressure on the oil industry to reduce emissions.
News
April 07, 2022
Shell Plc said its withdrawal from Russia will result in $4 billion to $5 billion of impairments, while also warning investors that extreme energy price volatility in the first quarter could hit cash flow.
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April 04, 2022
Employment in the U.S. oilfield services and equipment sector rose by an estimated 2,698 jobs to 608,702 in March, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council.
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April 04, 2022
Exxon Mobil Corp. expects to take a writedown of as much as $4 billion on the Sakhalin-1 oil development in Russia as the company attempts to exit the operation following the invasion of Ukraine.
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April 01, 2022
A new market update report shows the U.S. oil and gas (O& G) industry can expect to see continued demand recovery and positive effects from the passage of the Infrastructure Investment and Jobs Act, but regulatory environments tightened last year.
News
March 30, 2022
Cnooc Ltd. is considering a sale of its U.K. North Sea portfolio, in what could be one of the biggest disposals in the aging basin by a foreign firm in recent years, people familiar with the matter said.
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March 29, 2022
Saudi Arabia and the United Arab Emirates said the U.S. must trust OPEC+’s strategy, as Washington and other major importers call on the group to hike oil production following Russia’s invasion of Ukraine.
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March 25, 2022
The U.S. and other major economies discussed oil supply and the potential for another round of releases, raising the prospect of new government intervention to ease supply strains.
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March 24, 2022
Activity in the oil and gas sector accelerated during first-quarter 2022, according to oil and gas executives responding to the Dallas Fed Energy Survey, which is punctuated with a number of record highs.
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March 23, 2022
Occidental Petroleum Corp., the shale giant backed by Warren Buffett, plans to build 70 carbon capture facilities around the world by 2035 that will each remove as much as 1 million tons per year of the greenhouse gas directly from the atmosphere.
