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.
The Tulsa, Okla.-based company is working to quickly reduce debt just two weeks after closing its $2.75 billion acquisition of privately held RKI Exploration & Production LLC.
At 1340 GMT, Brent was down $1.28 at $48.77 a barrel and U.S. crude, which had rallied 12% last week, dropped $1to $44.22, Reuters said.
Fire started hours after province's energy regulator said it would shut in 95 pipelines operated by Nexen, because of safety issues identified after large oil-related spill in July, Reuters said.
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.
The new and upgraded facilities could create up to 800,000 dekatherms per day of additional natural gas takeaway capacity from the Appalachian Basin to Midwestern and other gas markets.
"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.
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.