Activist investor Kimmeridge on Tuesday called on Coterra Energy to overhaul its leadership and strategy, saying the 2021 merger of Cabot Oil & Gas and Cimarex Energy has failed to deliver value and left it trading at a discount to its peers. In an open letter, the private investment firm urged the board to appoint … Read more

Top Western oil companies are enjoying a windfall from the expanding attacks on Russia’s oil industry – both literal and economic – that have boosted global refining profit margins and mitigated concerns over a looming supply glut.Waves of Ukrainian drone strikes on Russia’s vast network of refineries and export terminals since July have hammered the … Read more

Summary OPEC+ agrees to small output increase in December Plans to pause production increases in the new year Russia’s Tuapse port hit by Ukraine drone attack Supply outlook and Asian factory data weigh on prices (Reuters) – Oil prices were little changed despite news that OPEC+ plans to end its supply increases, with the market … Read more

By Erwin Seba Trump issues denial on social media that U.S. plans to attack Venezuela News media reports say U.S. plans air strikes on Venezuela Brent, WTI set to fall about 2.6% and 2% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say HOUSTON, Oct 31 (Reuters) – Oil prices … Read more

Summary Exxon raises dividend by 4% to $1.03 per share Company on track to complete $20 billion share buyback this year Exxon incurs $510 million in restructuring costs in Q3 (Reuters) – Exxon Mobil  beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin, … Read more

Summary Brent, WTI set to fall about 3.5% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say Saudi prices for Asian buyers might fall in Dec. -sources China factory activity shrinks for seventh month, PMI shows (Reuters) – Oil prices were heading for a third consecutive monthly decline, slipping on … Read more

U.S. President Donald Trump said on Thursday that China has agreed to begin the process of purchasing U.S. energy. “In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to … Read more

Summary Trump to reduce China tariffs after meeting with Xi OPEC+ likely to add another 137,000 bpd supply in December US crude and fuel inventories register large declines LONDON, Oct 30 (Reuters) – Oil prices eased on Thursday as investors assessed a potential trade truce between the United States and China, as President Donald Trump lowered tariffs on China … Read more

Summary China confirms Xi, Trump meeting US crude stocks fell last week, market sources citing API OPEC+ considering modest output increase in December (Reuters) – Oil prices steadied on Wednesday as investors weighed optimism over a meeting between the leaders of top consumers the U.S. and China against an expected increase in production quotas from … Read more

Summary Investors question effect of U.S. sanctions on Russia’s oil firms OPEC+ considers modest output increase in December Indian refiners halt new Russian oil orders amid sanctions (Reuters) – Oil prices fell pver 1% on Tuesday, marking their third day of declines as investors assessed the effect of U.S. sanctions on Russia’s two biggest oil companies along … Read more

Summary Oil prices fall on scepticism over US-China trade deal boosting oil demand Iraq’s oil exports unaffected by Zubair oilfield fire OPEC reverses production cuts to regain market share (Reuters) – Oil prices recovered from early losses on Monday as optimism over a trade deal framework between the U.S. and China countered concerns about weak demand for … Read more

By Erwin Seba Benchmarks pare early-day gains spurred by Thursday’s sanctions Brent, US crude both gain over 7% in the week Chinese state oil majors to suspend Russian oil purchases Indian refiners set to cut their Russian crude imports HOUSTON, Oct 24 (Reuters) – Oil prices fell on Friday as skepticism crept into the market … Read more

(Reuters) – Baker Hughes CEO Lorenzo Simonelli said on Friday the global macro environment remains resilient through 2025, despite geopolitical and policy headwinds, supported by the rapid deployment of generative artificial intelligence driving power demand and industrial activity. Simonelli said the company remains confident of reaching $1.5 billion in data center orders ahead of its … Read more

By Georgina McCartney (Reuters) – HOUSTON, Oct 24 – North Dakota oil production is expected to have climbed slightly in September but is on track to fall in the longer term as wells undergo a natural decline, the state regulator said on Friday. North Dakota is home to the Bakken oilfield, a massive shale field … Read more

(Reuters) – Oil production in North Dakota fell 10,000 barrels-per-day (bpd) to 1,153,000 bpd in August, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,124,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to … Read more

(Reuters) -Spot premiums in crude markets jumped on Thursday on expectations that U.S. sanctions on top Russian producers will spur China and India’s demand for supplies from the Middle East, Africa and South America, trade sources and analysts said. Washington hit major suppliers Rosneft and Lukoil with sanctions over the Ukraine war, sparking concerns over … Read more

(Reuters) – HOUSTON, OCT 24 – There are currently 28 active rigs in North Dakota, up from 27 in September, according to the state’s Department of Mineral Resources on Friday. There are currently 13 frac crews operating in the state, up from 12 in September. North Dakota is the third largest oil-producing state in the … Read more

(Reuters) – The prompt Brent crude futures contract on Thursday returned to trading at a premium to the six-month contract after new U.S. sanctions on Russia revived concern of a tight market in the near term, erasing earlier signs of a fear of a glut. The first-month Brent contract is now trading at near $2 … Read more

Summary U.S. imposes sanctions on Russian producers Rosneft, Lukoil India is biggest buyer of seaborne Russian oil since Ukraine war Russian oil purchases a key Trump irritant in India trade talks Reliance plans to halt imports under Rosneft deal – sources (Reuters) – Indian refiners are poised to sharply curtail imports of Russian oil to … Read more

U.S. President Donald Trump imposed sanctions on Russia’s two largest oil companies, marking a significant escalation in his efforts to starve Moscow of vital revenue to fund its war in Ukraine. The effectiveness of these measures – which target Russia’s Lukoil and Rosneft – will, however, hinge on Trump’s willingness to enforce secondary sanctions and … Read more

Summary US slaps sanctions on Rosneft, Lukoil over Ukraine war Indian refiners reviewing their Russian oil purchases US crude, fuel stocks down on strong refining and demand (Reuters) – Oil prices rose nearly 5% on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil  over the Ukraine war, extending gains from the … Read more

(Reuters) – Ananym Capital would like to see energy and technolgy company Baker Hughes spin out its oil field services and equipment business, arguing such a step could help push up the stock price by at least 60%. “That’s our preferred path based on our analysis,” Ananym co-founder Charlie Penner said on Tuesday at the … Read more

Summary Trump says India to limit Russian oil purchases Trump-Putin summit put on hold US-China trade talks in doubt (Reuters) – Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India. Brent crude futures rose 96 cents, … Read more