Prices
2015, March, 31, 20:25:00
OIL MARKETS: TRAITORS
Oil markets remained volatile Mar. 24 while analysts anticipated a weekly government inventory report showing another climb in US oil and product supplies. US light, sweet crude prices edged up on Mar. 24 to remain under $48/bbl while Brent prices fell modestly to settle at above $55/bbl.
2015, March, 31, 20:05:00
STRATEGIC OIL FOR INDIA
India has bought the first oil for its strategic petroleum reserve (SPR), trade sources said on Monday, marking the start of a round of purchases by the world's fourth-biggest oil consumer to build up emergency stockpiles.
2015, March, 29, 15:30:00
OIL DOWNTURN IS BETTER
Investment bankers and analysts entrenched in the oil and gas industry say companies have so far staved off the major negative impacts of the current industry downturn better than previous downturns by acting more proactively and aggressively.
2015, March, 29, 15:25:00
THE NEW RUSSIAN EMPIRE - 4
Russian oligarch Mikhail Fridman's battle to salvage his North Sea gas fields purchase will take weeks if not months to resolve as the British cabinet has left it for the next government to take the decision, sources said.
2015, March, 29, 15:15:00
2015: GLOBAL INVESTMENTS WILL DOWN 15%
Schlumberger CEO Paal Kibsgaard said Monday he expects global exploration and production capital expenditures to drop between 10 to 15 percent in 2015.
2015, March, 29, 15:10:00
U.S. RIGS DOWN
The US drilling rig count dropped just 21 units to settle at 1,048 rigs working during the week ended Mar. 27, representing the smallest decline in 15 weeks.
2015, March, 29, 15:05:00
SHELL CUTTING 250 JOBS
Royal Dutch Shell will reportedly cut at least 250 more jobs this year at its UK North Sea operations.
2015, March, 25, 20:40:00
U.S. SHALE DOWN
In the boom years of the US shale oil industry, profitability was something of an optional extra. Companies were focused on growth, it was easy to raise capital, and making a decent return on investment could be put off for another day.
2015, March, 25, 20:35:00
BUYING U.S. ASSETS
Houston-based Linn Energy has teamed up with private equity firm Quantum Energy for a $1 billion asset purchase plan.
2015, March, 25, 20:30:00
U.S.: LAYING OFF
OPEC and lower global oil prices delivered a one-two punch to the drillers in North Dakota and Texas who brought the U.S. one of the biggest booms in the history of the global oil industry.
2015, March, 25, 20:25:00
U.S.: 75,000 JOBS CUTTING
At this point in the oil slump, dreaded jobs cuts hardly come as a surprise anymore; this week, Talisman Energy let go of 200 employees while Neven energy cut 400. But how many total American jobs have low oil prices cost? A recent Forbes article estimates at least 75,000—about 12 percent of the nation’s oil and gas workforce—so far.
2015, March, 25, 20:20:00
SINOPEC WOULD CUT
China’s Sinopec has become the latest oil major to cut its capital expenditure, after the slide in crude prices knocked nearly one-third from its 2014 profit.
2015, March, 25, 20:15:00
WOODSIDE CUTTING 300 JOBS
Australia-based Woodside Petroleum is reportedly cutting 300 jobs and freezing pay in response to low oil prices.
2015, March, 25, 20:10:00
UNDEFINITE PIPELINE
TAPI faces an uncertain future with the recent oil price fall, ambiguity regarding transit via Afghanistan and an increase in the estimated project cost.
2015, March, 25, 20:05:00
EU ENERGY MARKET
Before Donald Tusk became president of the European Council, the former Polish prime minister had already begun campaigning for a European energy union.