Daily News

India’s falling oil, gas production a concern – minister

India’s falling oil and gas production is a matter of concern, Oil Minister Dharmendra Pradhan said, adding the government will soon set up a gas trading hub. India’s crude oil production in October dropped 5 percent from a year earlier to about 2.89 million tonnes, while natural gas output was down 0.4 percent at 2.80 […]

By December 11, 2018 0 Comments Read More →

Chevron’s Giant Expansion Of A Super-Massive Oil Field

On April 3, 1993, the Republic of Kazakhstan and Chevron Corporation (NYSE:CVX) formed the Tengizchevroil venture to develop the super-massive Tengiz oil field and the smaller Korolev oil field in Western Kazakhstan. Combined, both fields are expected to hold 9 billion barrels of recoverable crude oil, with room for upside as the fields are home to 27.1 […]

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Why OPEC’s Output Cuts Haven’t Got Oil Bulls Excited Yet

OPEC and its allies defied market expectations last week and agreed 1.2 million barrels a day of production cuts for 2019, but crude prices are yet to rally. Unlike when a deal was reached to cut supply in 2016, the market is more skeptical this time around about exactly how the Organization of Petroleum Exporting […]

By December 11, 2018 0 Comments Read More →

Gas in some states falls to $2 a gallon

Gas prices in the Harrisburg have continued to drop. Prices in the past week dropped 6 cents a gallon to an average of $2.58 a gallon, according to GasBuddy.com. That average price is 25 cents lower than a month ago and higher than the national average of $2.42 a gallon…   Click Here for Remainder of […]

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Report: U.S. LNG export capacity to more than double by end of 2019

The United States will be able to export more than double the amount of liquefied natural gas by the end of next year, a new report from the Energy Information Administration shows. LNG producers currently have the ability to export 3.6 billion cubic feet of natural gas per day. But with at least 18 LNG […]

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Premium Pricing For Gulf Coast Oil Revives Interest In Eagle Ford Dealmaking

Several big deals involving the Eagle Ford shale play have been announced this year. That includes BP plc’s (NYSE:BP) $10.5 billion all-cash deal to buy BHP Billiton Limited’s (NYSE:BHP) onshore oil & gas assets in America, and Chesapeake Energy Corporation’s (NYSE:CHK) $4 billion almost all-stock purchase of WildHorse Resource Development Corporation (NYSE:WRD). Premium pricing for oil produced in South […]

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OPEC-Russia deal boosts oil prices

The big energy market news over the weekend was OPEC and Russia agreeing in Vienna Friday to curb output by 1.2 million barrels per day compared to October levels. Why it matters: The decision to curb output starting in January quickly boosted prices a bit, though they remain far below where they were 2 months ago. The global […]

By December 10, 2018 0 Comments Read More →

Oklahoma’s future rests in the hands of two very different oil billionaires

George Kaiser, a 76-year-old Oklahoma banker and oilman giving away almost his entire $10.5 billion fortune, wants higher taxes on his own industry. He’s bankrolling trendy neighborhoods in Tulsa, an early-childhood education program and a movement toward criminal-justice reform. Kaiser says his priority is to wean the state’s economy from “cyclical, commodity-based industry.” Harold Hamm, founder […]

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OPEC delays oil output decision pending Russia talks

OPEC countries hoping to support the price of oil put off their decision Thursday on how much to reduce oil production until they negotiate with ally Russia on Friday on how much it will contribute to the cut. Some saw it as a sign that the group of oil-producing nations may not have the political […]

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Australia grabs world’s biggest LNG exporter crown from Qatar in Nov

Australia overtook Qatar as the world’s largest exporter of liquefied natural gas (LNG) for the first time in November, data from Refinitiv Eikon showed on Monday. The surge in Australian exports follows the start up of a number of export projects in the country over the past three years, most recently the Ichthys project offshore […]

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