Oil & Gas

The U.S. and China remain locked in a wrestle for power, and it’s worrying that they’re not working to engage and collaborate with each other, energy expert Dan Yergin told CNBC. He was weighing in on a Reuters report that cited sources saying U.S. President Donald Trump is planning to add China’s national offshore oil

Santos Ltd (OTCMKTS: SSLZY) revealed Tuesday that it is targeting net zero emissions from its scope one and two activities by 2040. The company also announced that it aims to reduce these emissions by 26 to 30 percent, from its 2020 baseline, by 2030 and that it will actively work with customers to reduce their

It is “striking” that Iraq has made strong negative comments about OPEC+ production quotas ahead of the alliance’s meeting this week, one oil watcher said. The group is expected to consider delaying its output increase, scheduled for January 2021, at its two-day meeting starting Monday. “A couple of weeks ago, we were all thinking this

(Bloomberg) — China’s third-biggest oil company faces a U.S. blacklist, which could spur major outflows from its Hong Kong-listed unit, after years of involvement in offshore drilling in disputed South China Sea waters. China National Offshore Oil Corp., the nation’s main deepwater explorer, is among four companies to be added to a list of firms

Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them… Seadrill Wins GOM Contracts Seadrill revealed that Walter Oil & Gas awarded the company one firm, plus one optional, well contract for the Sevan Louisiana semi-submersible rig in the U.S. Gulf of Mexico (GOM) and that Kosmos

(Bloomberg) — The indigenous group seeking to buy a stake in TC Energy Corp.’s Keystone XL oil pipeline expects to secure financing by the first quarter of next year. Natural Law Energy, which represents five indigenous communities in Alberta and Saskatchewan, is confident the funding will allow it to acquire as much as 12% of

A Surgutneftegas worker near pumpjacks in Surgut Region of the Khanty-Mansi Autonomous Area – Yugra, in the West Siberian petroleum basin. Alexei Andronov | TASS via Getty Images Denmark’s Saxo Bank believes the long-term outlook for oil and gas companies appears bleak, but that’s not to say there isn’t a strategy for investors to consider

(Bloomberg) — Saudi Arabia and Russia summoned OPEC+ ministers who oversee their oil production cuts for last-minute talks on Saturday, as the cartel prepares for a decision on whether to delay January’s output increase. A clear majority of OPEC+ watchers expect the group to maintain their supply curbs at current levels for a few months longer due

Barclays has backed European equities to hit new highs in 2021, with 13% potential upside for the Stoxx 600 and two stocks offering more than 50% potential returns. In their 2021 outlook, equity analysts at the bank said a stock market rally would mostly be driven by earnings-per-share growth, with high-efficacy vaccines bringing the Covid-19

The American Petroleum Institute (API) and North America’s Building Trades Unions (NABTU) have urged the U.S. Senate to act on the National Apprenticeship Act (H.R. 8294), which was passed by the U.S. House of Representatives on November 20. “This legislation is important to ensure the continued vitality of our national apprenticeship system, which provides a

Saudi Minister of Energy Abdulaziz bin Salman speaks during a media briefing at the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh for a press conference, on November 18, 2020. FAYEZ NURELDINE | AFP | Getty Images LONDON — The future of oil producer group OPEC+ has been called into question by analysts

(Bloomberg) — Oil reclaimed heights not seen since the pandemic pummeled prices in the spring, with the start of the U.S. presidential transition and improved vaccine prospects infusing optimism across markets. Prices rose 4.3% in New York to the highest since early March. The forward curves for both West Texas Intermediate and Brent have strengthened

(Bloomberg) — Global oil prices hit the highest level since March as hopes for a vaccine rollout within weeks brightened the outlook for fuel consumption. Brent crude futures rose 2.5% in London, following a broader market rally after AstraZeneca Plc became the latest company to report a vaccine that protects most people. Vaccinations will “hopefully” start by Dec. 12,

The overall U.S. rotary rig count dipped by two over the past week, falling to 310 units, Baker Hughes Co. (NYSE: BKR) reported Friday. In its weekly count of operating rigs Baker Hughes noted that 231 of the U.S. drilling units were oil rigs – down five from last week. The number of U.S. gas rigs

Rigzone’s downstream readers paid considerable attention to articles this past week focusing on signs of improving fortunes of players within the global crude oil and LNG markets. However, readers also showed interest in another recent piece detailing one place that appears to want less of an important energy commodity. Keep reading for details. The Great

(Bloomberg) — Oil rose to the highest in nearly three months with positive Covid-19 vaccine developments paving the way for a more sustained recovery in oil demand. Futures rose 5% in New York this week for a third straight weekly gain as Pfizer Inc. and BioNTech SE requested emergency authorization of their Covid vaccine Friday. Moderna Inc.

(Bloomberg) — Oil edged lower with growing virus restrictions and signs the labor-market recovery may be slowing in the U.S. dampens the near-term demand outlook. Futures fell as much as 1.8% in New York before closing little changed as the dollar erased gains late in the trading session, boosting the appeal for commodities priced in

(Bloomberg) — Oil rose to its highest since early September following further progress on a coronavirus vaccine, with investors shrugging off a smaller-than-expected build in U.S. stockpiles. Futures in New York jumped as much as 2.5% on Wednesday, but gave up some of those gains in the wake of news that New York City will shut down

(Bloomberg) — Oil closed higher as a weaker dollar offset an OPEC+ committee’s decision to hold off on offering a recommendation on whether a planned production hike should move forward. Futures rose 0.2% in rose in New York in an afternoon rally after falling as much as 1.9% earlier in Tuesday’s session. The Bloomberg Dollar

(Bloomberg) — Oil gained the most in a week amid signals a Covid-19 vaccine is highly effective against the coronavirus, boosting optimism that an uptick in demand may be nearing. Futures climbed 3% and the Dow Jones Industrial Average briefly touched an intraday record after Moderna Inc. said its vaccine had 94.5% efficacy in a preliminary analysis