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. SourceContinue Reading
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. SourceContinue Reading
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. SourceContinue Reading
TotalEnergies SE is weighing taking a stake in what will be the world’s largest offshore wind farm, according to people familiar with the matter, as the French oil major continues to flex its green credentials. SourceContinue Reading
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. SourceContinue Reading
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market. SourceContinue Reading
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. SourceContinue Reading
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. SourceContinue Reading
The high-performing electric frac solution reduced emissions for Chesapeake by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network. SourceContinue Reading
West Texas Intermediate futures slumped 1.9%, after retreating 4.6% in the previous two sessions. The delta strain of Covid-19 has been detected in almost half of China’s 32 provinces in just two weeks, and at least 46 cities have advised residents not to travel unless strictly necessary. SourceContinue Reading
