Oil ends week mixed on geopolitical uncertainty, supply hopes
Oil prices ended the week mixed on Friday as investors weighed a potential supply disruption...
Oil prices ended the week mixed on Friday as investors weighed a potential supply disruption resulting from the Russia-Ukraine crisis against the prospect of increased Iranian oil exports.
Brent crude futures settled 57 cents, or 0.6%, higher at $93.54 a barrel, while U.S. West Texas Intermediate (WTI) crude ended down 69 cents, or 0.5%, at $91.07 a barrel. U.S. markets will be closed on Monday for the Presidents Day holiday.
Both benchmarks hit their highest levels since September 2014 on Monday, but growing prospects of easing oil sanctions against Iran have weighed on the market. ~(Reuters)~
Cyberattacks on oil surge as hackers target commodities
Oil assets and infrastructure emerged as the biggest targets for hackers and cyber attacks since 2017,...
Oil assets and infrastructure emerged as the biggest targets for hackers and cyber attacks since 2017, accounting for a third of all incidents over the period. Electricity networks were the next most vulnerable, making up a quarter of all incidents, data collected by Platts showed.
Last year, incidents included a ransomware attack by hackers on Saudi Aramco, the world's largest single exporter of crude, which involved a data leak and an attempt to extort $50 million from the state-controlled oil producer.
Pioneer CEO Scott Sheffield Calls for Private Oil Firms to ‘Rein In’ Flaring
Scott Sheffield, CEO of U.S. public shale firm Pioneer Natural Resources Co., on Feb....
Scott Sheffield, CEO of U.S. public shale firm Pioneer Natural Resources Co., on Feb. 17 said private oil and gas companies needed to be “reined in” for excessive methane flaring.
Sheffield said in an earnings call that methane flaring in the Permian Basin, the largest U.S. shale field, has fallen to less than 200 MMcf/d from a peak of 750 MMcf/d over the last two years.
Pioneer and many others, primarily other publics have driven flaring under 1% and aim eventually to lower it to 0.2%, while primarily private operators continue to vent and flare much greater than 1%, he said.
Facing Texas Pushback, BlackRock Says it Backs Fossil Fuels
At the risk of being dropped from Texas pension funds, BlackRock Inc. has ramped...
At the risk of being dropped from Texas pension funds, BlackRock Inc. has ramped up its message that the world's largest asset manager is a friend of the oil and gas industries.
As a large and long-term investor in fossil fuel companies, "we want to see these companies succeed and prosper," BlackRock executives wrote in a letter that a spokesman confirmed was sent at the start of the year to officials, trade groups and others in energy-rich Texas.
Labor shortages a major barrier to oil production growth
A shrinking oil and natural gas workforce in the Permian Basin, the engine of US oil production growth,...
A shrinking oil and natural gas workforce in the Permian Basin, the engine of US oil production growth, could make it difficult for operators to scale up activity and match the anticipated production growth for 2022 in the coming years, Evercore ISI warned. Endeavor Energy Resources, for example, has already turned to out-of-basin workers for 60% of its field activities, the advisory firm said.
