By: Reuters – Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S....
By: Business Insider – Aides to President Joe Biden were enraged when Saudi Arabia’s Crown Prince Mohammed bin Salman abandoned a secret...
From Business Insider: The US housing market isn’t just slowing down, it’s in the early stages of a major correction. With mortgage...
By: The New York Times – The war in Ukraine is raging, Russian natural gas exports to Europe are dwindling and the...
Relations between the U.S. and Saudi Arabia may have plunged to a new low after the kingdom cut oil production in defiance...
By: Reuters – Saad al-Kaabi, the head of Qatar’s state-run energy company, said on Monday all oil and gas trade should be...
Deutsche Bank on Oct. 21 said it aimed to reduce the emissions tied to its upstream corporate oil and gas sector loans...
By: Reuters – U.S. natural gas futures fell to their lowest since March on Thursday, after a federal report showed a larger-than-expected...
By: NGI – An unprecedented number of LNG vessels are floating offshore Europe as regasification terminal congestion and whipsawing prices further complicate...
Rick Newman –Yahoo Finance. Thank god for the elections! With the 2022 midterms imminent, President Biden has decided to release more oil...
"I've been talking about this being a bear market since February," says @downtown. "Here we are in the middle of May, the damage is way worse than anything we saw in 2018...until everyone can agree, 'hey this is the real thing,' I don't see how we bottom." pic.twitter.com/TGJ2JqPtZ7
— CNBCOvertime (@CNBCOvertime) May 11, 2022
Oil companies worldwide have been trying to increase production, but are struggling to balance increases without undercutting shareholder returns, Occidental Petroleum CEO Vicki Hollub said on May 11.
The U.S. oil producer, which plans to resume repurchasing its shares this quarter to reward investors, could boost output by as much as 5% next year if returns stay high. But rising service and material costs have limited what companies can do to quickly address the oil supply.
The company increased its CAPEX by $250 million mostly to cover inflation costs, she said. It also gave up on a multi-rig program for its Colorado operations after having its drilling permits restricted to one unit by regulators for the remainder of 2022, she said.
Occidental will resume its share repurchase program this quarter after reaching its $20 billion net debt target, CFO Robert Peterson said during the call. The producer had previously disclosed plans to use $3 billion for buybacks.
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
Trying to catch up in oil and gas production is difficult enough. It becomes...
By Adam Smeltz | UNIVERSITY PARK, Pa. – Oil produced from shale reservoirs drove...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
Key Highlights Global oil inventories are expected to grow more than 2 million b/d...
The race to lower costs and accelerate production timelines in the Permian Basin has...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
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