Moody’s lowers its outlook for global sector from ‘positive’ to ‘stable’ as spending cuts, reduced production cloud outlook for industry.
Midstream MLP distribution growth should remain strong through 2016 as midstream development catches up with U.S. production, analyst says.
Maynard Holt, the head of investment banking for Tudor, Pickering Holt & Co., sees reasons to be optimistic about future oil prices.
The likelihood that Brent will return to the mid-$70 per-barrel (bbl) range by 2016 looks increasingly imperiled, and with it, the prognosis for the most cash-strapped OPEC members is deteriorating.
Bearish sentiments in the commodities market were further increased as stock markets ride volatile wave.
After a surprise price resurgence earlier this season, crude and liquids have been dropping in value.
As the industry anxiously awaits demand to arrive, hydrocarbon storage is filling up.
Commodity prices remain challenged as markets await various demand factors to start to kick in.
Alberta’s energy minister, Marg McCuaig-Boyd, said royalty rates paid by oil and gas companies will not change until 2017, helping companies budget for the important winter drilling season, Reuters reported.
"Spreads in U.S. crude yesterday were weaker across the board, even though the spot contract was up 10%," Tariq Zahir at Tyche Capital Advisors in Laurel Hollow, N.Y., said, Reuters reported.
Average yield on U.S. junk-rated energy companies rose to more than 12% Aug. 24, Bank of America Merrill Lynch data said- the highest level since the financial crisis, Reuters said.
ExxonMobil Corp and BHP Billiton will replace a 187 kilometer (116 mile) pipeline that transports crude oil and condensate between two of their sites in Australia's Victoria state, Reuters said.
Statoil’s Polarled gas pipeline will open a new gas highway from the Norwegian Sea to Europe by crossing the Arctic Circle. The 482-kilometer pipeline is being transported by Allseas’ Solitaire vessel.
Alliance declared force majeure on its 2,400-mile pipeline taking gas and NGL from western Canada and North Dakota to Chicago market after finding poisonous hydrogen sulfide, Reuters said.
Commodity prices continue their summer slump, but fall and winter should provide modest upticks.
Producers and operators are adjusting to new market dynamics as export demand replaces heating demand as the largest mover for propane prices.
The acquisition of private company RKI Exploration & Production adds 3,600 locations in the Permian Basin and continues WPX’s climb up in the oil producing ranks.
The largest distillation unit’s full capacity is 250,000 barrels per day, and BP did not specify when full capacity will be reached after the restart.
Natural resources contamination resulted from refineries in Bayonne and Linden, N.J., and elsewhere. Some surface water damages claims can still be pursued, said John Hoffman, acting attorney general, Reuters said.
An open season for the pipeline was completed, and the transportation services agreements allow engineering and construction to move forward. The project is scheduled to be completed in second-half 2016.
Isobutanol burns with less corrosion, holds more of gasoline's energy content allowing longer travel, is cheaper to blend with gas, and is compatible with the current petroleum infrastructure.