Oil and Gas Prices
News
August 25, 2022
U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP.
News
August 24, 2022
New figures show domestic gas production in the first half of 2022 was 26% higher than the same period in 2021, which is enough to heat almost 3.5 million UK homes for a year.
News
August 24, 2022
Saudi Arabia’s oil exports reached $31 billion in June, the highest in at least six years, driven by a rally in prices and rising production.
News
August 23, 2022
At a time when global oil markets are experiencing significant volatility, member countries of OPEC+ have the means to address these challenges, and Equatorial Guinea will continue to support efforts to improve market stability.
News
August 23, 2022
On July 30, ENTSO-E allowed a 2.5-fold increase in the export of Ukrainian electricity to Europe, only up to 250 MW. This gives Ukraine a revenue stream for supporting its energy sector.
News
August 19, 2022
Warren Buffett’s Berkshire Hathaway Inc. won approval from U.S. regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months acquiring its shares. Occidental’s shares surged on news of the authorization.
News
August 17, 2022
U.S. oil and gas producers recovered and reset in 2021, posting increased profits of $73.7 billion and $211.9 billion in revenues, according to the EY U.S. oil and gas reserves, production and ESG benchmarking study.
News
August 17, 2022
Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said.
News
August 15, 2022
Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production.
News
August 12, 2022
Oil & Natural Gas Corp.’s profit beat estimates to rise more than three times after oil prices surged in the wake of Russia’s invasion of Ukraine and an increase in local gas prices.
News
August 12, 2022
Shale drillers saw their debt burden fall further in the second quarter, signaling extra room for them to pay dividends, buy back shares or make acquisitions.
News
August 11, 2022
OPEC+ is unlikely to increase output in the coming months because of limited spare capacity, according to the International Energy Agency.
News
August 09, 2022
With $4 a gallon gas, inflation at 40-year highs, and two straight quarters of economic recession, D.C. Democrats fast-tracked partisan legislation that will stifle the economy, kill jobs, hike taxes, and increase energy costs.
News
August 08, 2022
While oil companies could benefit from the bill, which could mandate more federal oil and gas lease sales and boosts an existing tax credit for carbon capture, API President and CEO Mike Sommers said the package falls short in addressing America’s energy needs.
News
August 05, 2022
Few ideas are more economically disastrous than debt spending in an inflationary environment and raising taxes during a recession. And Democrats are planning on doing just that.
News
August 04, 2022
U.S. crude futures fell below $90 a barrel for the first time since February, the month Russia invaded Ukraine.
News
August 03, 2022
OPEC+ responded to months of diplomatic efforts from US President Joe Biden with one of the smallest oil production increases in its history.
News
August 02, 2022
Oil-watchers are skeptical that OPEC+ will answer President Joe Biden’s call for more oil supplies when it meets on Wednesday, expecting the coalition to preserve its remaining capacity for another time.
News
August 02, 2022
Out of $8.45 billion in profits BP posted for the second quarter, $3.5 billion will be used to buy back the company’s own shares, and the dividend will rise by 10%.
News
August 02, 2022
Quarterly and annual results only give you a snapshot showing what has been happening in recent months, so they do not tell you much about longer-term trends, said Will Webster, energy policy manager at Offshore Energies UK.
News
August 01, 2022
Joe Biden took a political gamble with his visit to Saudi Arabia last month, courting a kingdom he once vowed to punish in a quest for more oil supplies. This week will reveal whether it paid off.
