RT @exxonmobil: Today we announced our plans to join the Oil and Gas Climate Initiative, a voluntary initiative representing 13 of the worl…
Oil & Gas Journal Archive
- US House Democrats express NPR-A oil development concerns to BLM
- US Coast Guard withdraws 1999 offshore oil and gas proposed rule
- ExxonMobil to join oil and gas climate initiative
- Verus Petroleum to acquire Cieco E&P (UK)
- Total buys provider of EV-charging systems
- MARKET WATCH: NYMEX oil prices jump more than $1/bbl on lower crude inventory
- Polish president seeks more US help in fighting Russian energy moves
- CERI: Canadian LNG export economics not globally competitive
- Linn, Roan Holdings to combine to form pure-play firm
- Sorrells promoted at Texas Railroad Commission
- BLM issues final oil, gas waste prevention rule with reforms
- EIA: US crude inventories decrease 2.1 million bbl
- MARKET WATCH: NYMEX oil, gas prices rise on US-China trade tensions
- ESAI: Refinery expansions overwhelms rising gasoline, diesel demand
- MARKET WATCH: NYMEX, Brent oil prices fall slightly pending full US sanctions on Iran
Light, sweet crude oil and Brent crude oil prices jumped by more than $1.60/bbl on Sept. 11 while market participants monitored tropical weather systems headed toward the US East Coast and possibly the Gulf of Mexico. Tropical Storm Isaac could aim at Texas later this week although that system appeared to be fading as of early Sept. 12, forecasters said.
OMV AG would acquire 50% of Sapura Upstream Sdn. Bhd. under a heads of agreement it has entered with parent Sapura Energy Bhd., Seri Kembangan, Malaysia, to form a strategic partnership. The proposed transaction has an enterprise value of $1.6 billion, according to Sapura Energy, an integrated oil and gas services provider and sole owner of Sapura Upstream.
US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.3 million bbl for the week ended Sept. 7, according to data from the US Energy Information Administration. At 396.2 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the report indicated.
In its September Short-Term Energy Outlook the US Energy Information Administration forecasts Brent crude oil prices to average $74/bbl and West Texas Intermediate crude oil prices to average more than $67/bbl in 2019. Both forecasts are $3/bbl higher than the forecast from the August STEO.