Oil prices up two per cent By Devika Krishna Kumar NEW YORK, Feb 21 (Reuters) – Oil prices rose about 2 per cent to near three-week highs on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher as it expects other producers […]
Oil prices up as OPEC chief sees higher compliance with cuts Read More »
Aramco IPO brings in investment, diversify economy Feb 20 (Reuters) – Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday. Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo
Saudi favors New York for Aramco IPO, also considers Toronto, London -WSJ Read More »
Essar Oil deal valued at $12.9 billion By Vladimir Soldatkin, Alexander Winning and Kira Zavyalova MOSCOW, Feb 20 (Reuters) – A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India’s Essar Oil next month, two Russian sources close to the deal told Reuters. Acquiring the refiner will
Rosneft-led consortium plans to complete Essar Oil acquisition next month Read More »
Hedge funds’ bullish position in crude futures have not had much impact on oil prices By John Kemp LONDON, Feb 20 (Reuters) – Hedge funds and other money managers have amassed a very large bullish position in crude oil futures and options without so far having much impact on oil prices. Hedge funds raised their combined
Opinion: Hedge funds bet big on oil as OPEC gives them a free put option Read More »
Acquisition of portfolio creates leading UK Independent E&P company focused on North Sea Harbour Energy, Ltd., the energy investment vehicle managed by EIG Global Energy Partners, announced it agreed to lead the acquisition by Chrysaor Holdings Limited of a well-diversified portfolio of oil and natural gas assets from Shell U.K. Limited and its affiliates to
Harbour Energy acquisition of Shell UK North Sea assets for $3 Billion Read More »
Pioneer Energy oil field services unit expects 30 per cent bump in Q1 Feb 17 (Reuters) – Pioneer Energy Services Corp said it expected revenue from its biggest unit, which provides oil field services, to rise by as much as 30 per cent in the first quarter, with more oil companies drilling and completing wells.
Pioneer Energy service revenue rises as demand recovers Read More »
Oil prices, demand in India and China fall By Devika Krishna Kumar NEW YORK, Feb 17 (Reuters) – Oil prices ended largely steady on Friday but lower on the week, with U.S. crude notching its first weekly decline in five weeks, as rising U.S. drilling and record stockpiles faced efforts by major producers to cut
Oil prices steady but down for the week as glut worries face OPEC cuts Read More »
Enbridge to invest $1.3 billion in EnBW’s Hohe See By Nia Williams CALGARY, Alberta, Feb 17 (Reuters) – Enbridge Inc, Canada’s largest pipeline company, reported a smaller than expected quarterly profit on Friday, and also announced a C$1.7 billion ($1.3 billion) investment in a North Sea windfarm. The 50 per cent ownership in EnBW’s Hohe
Enbridge reports quarterly profit, North Sea windfarm stake Read More »
Institutional investors return to oil markets By Jessica Resnick-Ault NEW YORK, Feb 16 (Reuters) – Oil traders for the last two weeks have shrugged off reports that U.S. stockpiles are brimming at their largest levels ever recorded, as the market continues to bet that crude prices will climb higher. Oil has maintained its buoyancy because
Big bets on oil remain stalwart, despite bearish signals Read More »
Marathon Oil ramping up Oklahoma, Bakken activity Feb 15 (Reuters) – Marathon Oil Corp, a U.S. shale exploration company, on Wednesday doubled its projected capital spending for the full year, as crude prices stabilize following a two-year rout. The company, which reported a smaller-than-expected wider fourth-quarter loss on Wednesday, expects to spend more as it
Marathon Oil beats estimates, doubles 2017 capital budget Read More »
