Forecast
News
April 15, 2015
Despite major cost reduction measures, first-quarter earnings for supermajors are expected to be the weakest in recent memory, according to Douglas-Westwood's DW Monday.
News
April 03, 2015
Iran’s accord with world powers brings the OPEC member a step closer to restoring oil production that was cut by sanctions while leaving unresolved when it will happen.
News
March 13, 2015
Mexico’s National Hydrocarbons Commission lowered the country’s estimates for proven oil reserves and state-run Petroleos Mexicanos cut its 2015 production forecast after crude prices collapsed and its budget was reduced.
News
March 10, 2015
Oil traded near $50/bbl after the U.S. government forecast that the nation’s supply growth will slow next month, prompting speculation a global glut will ease.
News
March 09, 2015
Oil fell in London for a fourth day after China reduced crude imports. Futures advanced in New York after an industry survey was said to report a slowdown in crude stockpile increases at Cushing, Oklahoma.
News
March 04, 2015
Exxon Mobil Corp. is sticking to production targets established when oil traded for more than $100/bbl, signaling confidence that demand for crude-based fuels will continue to expand.
News
February 19, 2015
U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources committee, and Sen. Heidi Heitkamp, D-N.D., have joined with 19 of their Senate colleagues on a bipartisan letter to U.S. Commerce Secretary Penny Pritzker encouraging the administration to authorize oil exports to Mexico under the same conditions established for exports to Canada.
News
February 19, 2015
The biggest, fastest-growing oil producer in the U.S. said it plans to halt output growth this year, delivering a signal that shale companies are beginning to do what it takes to reduce oversupplies.
News
February 16, 2015
Chevron has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador.
News
February 16, 2015
International accountant and shipping adviser Moore Stephens has said that companies in the offshore maritime sector need to keep a close watch on costs and manage their exposure to risk in the wake of the dramatic fall in oil prices.
News
February 13, 2015
WPX Energy has announced a 2015 capital investment plan of approximately $725 million (midpoint), in line with the company’s projected operating cash flow.
News
February 11, 2015
Apollo Global Management LLC’s head of energy investing said the worst is still to come for oil as OPEC may decide against cutting production for years.
News
February 11, 2015
Crude demand is improving amid signs prices are stabilizing, the state-run Saudi Press Agency reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi.
News
February 10, 2015
The U.S. will remain the biggest contributor to global growth in oil supplies to 2020 as OPEC’s attempts to defend its market share will hurt other suppliers including Russia more, according to the International Energy Agency.
News
February 06, 2015
Statoil deepened cost cuts and halted dividend growth as Norway’s biggest energy company struggles to withstand a plunge in oil prices.
News
February 02, 2015
HOUSTON -- The Texas Petro Index, a composite index based upon a comprehensive group of upstream economic indicators, declined for the second straight month in December to 309.5, according to the sponsor of the index, the Texas Alliance of Energy Producers.
News
January 30, 2015
HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.
Article
December 2014
The year 2014 has been a period of not only great profitability for the global upstream industry but also a time of considerable volatility.
Article
September 2014
After reaching a plateau last year, worldwide E&P activity is set to resume additional growth, led by a very strong drilling market.
Article
August 2014
Despite a variety of interfering factors, U.S. activity remains at a high level, aided by the industry’s technical and efficiency gains. Canada continues to slowly rebound on the strength of oil activity, while Mexico remains at a lower level.
Article
February 2014
Sustained high oil prices, the sanctioning of major projects and the delivery of a large number of offshore rigs, in both 2014 and 2015, are driving the projected increases in international E&P spending.
