Brazil’s President says Petrobras privatization is ‘on our radar’

Brazilian President Jair Bolsonaro repeated on Monday that he is considering the privatization of state-run oil company Petrobras, remarks that lifted the...

Guyana To Build 135-Mile Subsea Gas Pipeline

Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly...

Ecuadorean indigenous communities sue to halt oil development

Indigenous communities from Ecuador’s Amazon has sued the government of the country to halt plans by President Guillermo Lasso to increase oil...

U.S. refiners set for higher earnings on fuel demand strength

U.S refiners
 U.S. refiners are expected to show higher earnings for the third quarter as margins to sell gasoline and diesel have improved despite...

Petrobras Selling Another Field Offshore Brazil

brazil
Brazilian energy company Petrobras has started the sale process for its whole interest in the Catuá field located in the Campos Basin...

U.S. Coast Guard boards vessel suspected of damaging subsea pipeline

coast
The U.S. Coast Guard boarded a container ship that dragged its anchor near to a Southern California subsea pipeline that was the...

Oil rises on bigger-than-expected draw in U.S. fuel stocks

Oil prices climbed on Thursday, reversing previous losses, as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying.

Chevron Shipping Joins NAMEPA To Save Our Seas.

CHEVRON
The Chevron Shipping has joined the North American Marine Environment Protection Association, NAMEPA as its newest corporate member. Carleen...

US LNG GROUP URGES GOVERNMENT TO KEEP HANDS OFF EXPORTS

The US Center for LNG has urged (CLNG) Energy Secretary Jennifer Granholm to maintain her hands-off approach to exports as US gas...

Oil prices rise on falling U.S. crude inventories

Crude has fared strongly in September after extreme weather disrupted U.S. supplies and as a rally in natural gas spurred expectations oil demand may benefit from switching. In Asia, China’s central bank injected more short-term cash into the financial system, alleviating some concern over the crisis at China Evergrande Group and aiding industrial commodities while the Federal Reserve’s latest interest rate decision will be released later.

Oil Prices Uptick As U.S Crude Stock Shrinks

Oil Prices
Oil prices rose around 1 per cent on Wednesday, extending overnight gains, after industry data showed U.S. crude stocks fell more than...

U.S. hurricane damage to cut Shell oil output through year-end

shell
Shell was the hardest-hit producer from Ida, which tore through the U.S. Gulf of Mexico last month and removed 27 million barrels overall from the market. About 40% of Shell’s production from the offshore region remains offline, and the slow restart has hampered export activity in general.

Shell exits top U.S oil field in $9.5bn deal

energy
Royal Dutch Shell is about to exit U.S biggest oilfield in a $9.5 billion deal as the industry faces pressure to lower...

Oil Prices Sustain Upward Trajectory In A Second Straight Session

Oil
Beyond the impact of Ida, market attention will focus this week on potential revisions to the oil demand outlook for 2022 from the Organization of the Petroleum Operating Countries (OPEC) and the International Energy Agency (IEA). OPEC will likely revise its forecast lower on Monday, two people familiar with the matter said.

Enbridge to expand U.S. oil export capacity with $3B Moda Midstream...

export
“Our strategy is driven by the important role that low cost, sustainable North America energy supply will play in meeting growing global demand,”

California Oil Spill: Amplify Comments

“Amplify Energy is a fully engaged member of, and working cooperatively with, the unified command, consisting of the Coast Guard, California Department of Fish and Wildlife’s Office of Spill Prevention and Response (CDFW-OSPR),” the company said in a statement posted on its website.

Petrobras To Earn Over $4B For Brazilian Offshore Field Duo

The company added that such offers could exceed $4 billion for both fields. The company is analyzing them according to the evaluation criteria of this project, considering all value components and other conditions reflected in the offers, including firm and contingent payments and other relevant contractual conditions.

Shell Returning Workers To GOM Oil Platform

Shell Returning Workers To GOM oil platform levacuated due to Hurricane Ida to the Enchilada/Salsa asset but...

ExxonMobil no longer the biggest U.S. energy company

ExxonMobil Debt Profile Hit $68.8Bn, Requires $8Bn Of Debt Financing
ExxonMobil Corp was once the largest publicly traded company in the United States. Now, the oil major is also no longer even...

MARKET VALUE: CHEVRON EXCEEDS EXXONMOBIL

Chevron’s market value overtook that of Exxon Mobil for the first time on Wednesday during a week in which it closed a $4.1 billion, all-stock deal for Noble Energy, a smaller oil and gas producer. Chevron’s market cap ended the day around $142 billion, topping Exxon Mobil’s $141.65 billion market value at the end of trade, according to Refinitiv data and Chevron SEC filings pertaining to the Noble deal. Shares in Chevron closed up 2.047 per cent on Wednesday and Exxon Mobile rose just 0.3 per cent. Chevron’s finances are stronger and its shares have performed better than its larger rival. It has shifted away from costly megaprojects favored by oil majors, and moved sooner this year to cut costs amid the coronavirus-induced sharp drop in oil and gas prices. Investors have shunned fossil fuel companies and the energy sector is the worst-performing on the S&P 500 year to date. Chevron’s stock is down a lesser 38 per cent year to date compared to a 52 per cent decline at Exxon, which this year was removed from the Dow Jones Industrial Average, a position it held since the index was created. Exxon’s weak earnings have forced it to borrow to finance its nearly $15 billion a year shareholder dividend and cover spending on new projects. In part, Chevron’s finances have benefited from its faster divesting of unwanted assets. Exxon has struggled to unload unwanted oilfields despite promising to accelerate the sales in early 2019. Exxon officials have said they are reviewing all its operations for cuts, but have signaled that major savings will not come this year.
Chevron’s market value overtook that of Exxon Mobil for the first time on Wednesday during a week in which it closed...
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