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
Neptune Energy announced the safe and successful installation and testing of the world’s longest trace-heated subsea production pipeline at its operated Fenja field in the Norwegian sea. SourceContinue Reading
Oceaneering International’s Integrity Management and Digital Solutions segment has won a new multi-year contract in Papua New Guinea with a major operator. SourceContinue Reading
Petroleos Mexicanos is measuring crude production at a warmer temperature than government regulators, inadvertently inflating the oil giant’s output figures, according to people familiar with the practice. SourceContinue Reading
“One of the negatives of this quarter has been some horrible hedging; guys locked in at $42 a barrel,” Paul Sankey, the veteran oil-industry analyst and founder of Sankey Research LLC. SourceContinue Reading
