Archive for the ‘Oil Prices’ Category
OGUK: Lower offshore costs face low drilling activity at North Sea crossroads
September 17th, 2018 by Latest News
Oil & Gas UK describes the UK’s offshore industry as at a crossroads in its Economic Report 2018. The report contrasts reduced costs, competitive fiscal terms, improved operational performance, and greater stability in oil and gas prices, with the impa…
Barclays: Revised North American upstream spending to increase 15% in 2018
September 17th, 2018 by Latest News
In Barclay’s midyear global spending survey of more than 200 companies, global upstream spending for 2018 is on pace to rise 8%, essentially in line with its December spending report.
Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit.
US olefins industry enters new era
September 4th, 2018 by Latest News
First-half 2018 was simultaneously the best of times and the worst of times for the US petrochemical industry: the best of times for those chemical companies who successfully and smoothly started up new ethylene capacity that had been under constructio…
The OGJ150 group of oil and gas producers recorded dramatically improved 2017 financial results compared with results from a year earlier, buoyed by stronger crude oil and gas prices.
The region-wide Gulf of Mexico lease sale, held Aug. 15 in New Orleans by the US Bureau of Ocean Energy Management, generated $178.1 in apparent high bids for 144 tracts. There were 14,622 tracts on offer in the gulf’s federal waters.
Brent crude oil prices on London’s International Commodity Exchange fell in July on higher global output, while West Texas Intermediate crude prices on the New York Mercantile Exchange rose on strong US refining and exports. Both benchmarks are up 50% …
Six oil and gas majors will report second-quarter financials this week, with earnings expected to trend higher on the back of higher crude prices and robust refining margins, said Wood Mackenzie Ltd.
Reimposing sanctions aimed at Iran’s crude oil exports could prove harder than some members of the Trump administration apparently believe, speakers suggested at a July 18 Atlantic Council discussion.
The Organization of Petroleum Exporting Countries, Russia, and several other producers recently agreed to increase their production and achieve 100% compliance with the Vienna Agreement. Such determination to ensure the steady supply of oil to world ma…