Economics/Statistics

Article
October 2022
Much is at stake in these elections that could help or hurt the health of the U.S. upstream sector. This will be the first election affected by the redistricting that followed the 2020 census. The Republicans are favored to retake a majority in the House, but control of the Senate remains a “tossup.”
News
November 14, 2022
Due to a weaker economic backdrop and China’s strict anti-Covid measures, OPEC lowered estimates for the amount of crude it will need to pump this quarter by 520,000 bpd, following a similar-sized downgrade a month ago.
News
November 13, 2022
UK Chancellor Jeremy Hunt is expected to delay much of the £55 billion ($65 billion) of savings to fill the hole in the public finances until after the next election, including an increase in the oil and gas windfall tax.
News
November 13, 2022
Oil and gas investments could be driven out of UK waters if Chancellor Jeremy Hunt carries out threats to raise the windfall tax to 35%, Offshore Energies UK (OEUK) has warned.
News
November 08, 2022
The United States cut its forecast for the nation’s oil production growth next year, predicting that output will fall short of an all-time high.
News
November 07, 2022
Global oil demand in 2023 will grow a million barrels per day lower than organizations such as the International Energy Agency and OPEC have forecast, according to a new report from Enverus Intelligence Research.
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November 04, 2022
Employment in the U.S. oilfield services and equipment sector rose by an estimated 124 jobs in October to 640,282 — the highest since September 2021 — according to preliminary data from the Bureau of Labor Statistics
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November 04, 2022
Unemployment in the U.S. oil industry plummeted to one of the lowest levels on record at 0.8% for October as shale explorers scramble for workers to keep production flowing.
News
November 03, 2022
Natural gas use is surging in Spain, offering an insight into the possible unintended consequences of capping fuel prices to shield the country’s households and businesses from the energy crisis.
News
November 01, 2022
A new analysis of the American Petroleum Institute's (API) "10 in 2022" policy plan found that it could spur nearly $200 billion in direct investment, 225,000 jobs and production growth in natural gas, oil, carbon capture and hydrogen.
News
October 28, 2022
As big banks pull back on lending to oil and gas drillers, some U.S. energy companies are relying on a novel kind of bond to get the financing they need.
News
October 20, 2022
Saudi Aramco is pushing ahead with plans for an initial public offering of its energy-trading business, which would rank as one of the largest share sales this year, according to people familiar with the matter.
News
October 18, 2022
Rice, 41, is one of the self-described “shalennial” brothers who took the reins of EQT Corp., the largest driller of natural gas in the US, after a proxy fight in 2019. In
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October 17, 2022
Billionaire wildcatter Harold Hamm boosted his offer for the Continental Resources Inc. stock his family doesn’t already own to $4.3 billion as he seeks “freedom to invest” and buck the disciplined-spending mantra adopted by rival shale drillers.
News
October 10, 2022
The U.S. has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation. The world’s largest oil exporter insists the decision was about economics, not politics.
News
October 05, 2022
The American Petroleum Institute President and CEO Mike Sommers and American Fuel and Petrochemical Manufacturers President and CEO Chet Thompson sent a letter to U.S. Secretary of Energy Jennifer Granholm raising significant concerns that the administration could pursue a ban or limits on refined petroleum products.
News
October 04, 2022
The world’s biggest oil company reiterated its warning that producers’ spare capacity is running low and said there wouldn’t be any left once China ends its Covid Zero strategy.
News
September 28, 2022
Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas.
News
September 19, 2022
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs Group Inc, HSBC Holdings Plc and SNB Capital to manage its IPO in Riyadh, seeking to join a steady stream of Gulf firms tapping equity markets.
Article
September 2022
No matter what oil prices are, our industry will continue to need newly trained talent. With proper education and training at university level, graduates will be better prepared to make cost-effective decisions regarding seismic data, drilling and completion of wells.
News
September 05, 2022
OPEC+ agreed to make a token oil supply cut for October, a surprise move that shows the alliance is seeking to stabilize global markets after a faltering economic backdrop triggered the longest price rout in two years.
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