US crude futures prices have risen by around two-thirds since Jan. and Feb. 2016 By John Kemp LONDON (Reuters) – U.S. petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion. Domestic oil and gas production hit […]
US oil and gas industry has turned the corner – Kemp Read More »
$1.235 billion MEG Energy deal to refinance debt, part of capital restructuring By Jonathan Schwarzberg NEW YORK, Jan 19 (Reuters) – Canadian oil and gas company MEG Energy is testing the capacity for oil-related loans with a US$1.235 billion deal that will be used to refinance debt and is part of an overall capital restructuring. The
MEG Energy seeks leveraged loan as market reopens to oil and gas Read More »
Rick Perry Trump’s choice to head up US Energy Department By Timothy Gardner and Valerie Volcovici WASHINGTON, Jan 19 (Reuters) – Rick Perry, President-elect Donald Trump’s pick to run the U.S. Energy Department, said during a Senate confirmation hearing on Thursday that global warming caused by humans is real, but that efforts to combat it
Rick Perry softens stance on climate change Read More »
Peabody Energy looking to transfer funds from bankruptcy estate before plan approved By Tracy Rucinski CHICAGO, Jan 18 (Reuters) – The U.S. government’s bankruptcy watchdog objected on Wednesday to certain parts of Peabody Energy Corp’s plan to slash $5 billion of debt and exit Chapter 11, calling a proposed $240 million in transaction fees “exorbitant,” court
U.S. watchdog calls Peabody Energy bankruptcy plan fees ‘exorbitant’ Read More »
Demonstrators renew opposition to Dakota Access pipeline this week By Timothy Mclaughlin Jan 18 (Reuters) – On Wednesday, the U.S. Army began the process of launching an environmental study of the Dakota Access pipeline crossing in North Dakota, a move that has been challenged by the company constructing the controversial project. The Army said on Wednesday
U.S Army to begin environmental study of Dakota Access pipeline Read More »
Kinder Morgan revenue falls from $3.64 billion to $3.39 billion Jan 18 (Reuters) – Kinder Morgan Inc reported lower-than-expected quarterly revenue for the ninth straight quarter as its pipelines transported lower volumes of oil and gas. Pipeline companies, once seen as insulated from commodity price swings due to fixed-fee contracts, were hit hard by a
Kinder Morgan Q4 revenue falls 6.8 per cent Read More »
CSX CEO expects Q1 earnings to grow in “low-to mid-teens” in percentage terms By Nick Carey DETROIT, Jan 18 (Reuters) – The head of No. 3 U.S. railroad CSX Corp said on Wednesday he sees room for optimism that the U.S. economy could continue to gain momentum in 2017, especially if President-elect Donald Trump follows
CSX CEO hopeful for U.S. economy in 2017 and that Trump can help Read More »
Gas, oil discoveries drop reinforces supply shortage forecast By Ron Bousso LONDON, Jan 18 (Reuters) – Gas and oil discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil prices. The decline in discoveries means companies such as Exxon Mobil
Global gas, oil discoveries drop to 70-year low: Rystad Energy Read More »
PDVSA not releasing size of Venezuela oil spill CARACAS, Jan 18 (Reuters) – Shipping operations at one of three docks of Venezuela’s main crude exporting port have “recovered” after a “minor” oil spill occurred over the weekend, state oil company PDVSA said on Wednesday, without saying how big the spill was. A spill occurred while loading a
Venezuela oil spill: Operations at terminal ‘recovered’ Read More »
Oil prices down to lowest level in a week By Scott DiSavino NEW YORK, Jan 18 (Reuters) – Oil prices fell to the lowest in a week on Wednesday on a strong dollar and expectations that U.S. producers would boost output, while OPEC signalled a drop in the global oil supply surplus this year as the
Oil prices fall with U.S. production expected to rise Read More »
