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July 1, 2022

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Column: Oil market confronts U.S. and EU policymakers with unpalatable choices: Kemp

Reuters
LONDON, June 29 (Reuters) – With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a......

Macron tells Biden that UAE, Saudi can barely raise oil output

Reuters
GARMISCH-PARTENKIRCHEN, Germany, June 27 (Reuters) – Two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production, French President Emmanuel Macron on Monday said he had been told by the UAE’s president. Saudi Arabia and the UAE have been perceived as the only two......

A shale booster shot: ‘Re-fracs’ rise as cheap way to lift U.S. oil output

Reuters
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well. These “re-fracs” are taking hold as shale oil producers look to take advantage of $100......

Nigerian Senate to probe Shell over alleged illegal oil lease renewals

Reuters
Shell logo and stock graph are seen in this illustration taken May 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register ABUJA, June 22 (Reuters) – Nigeria’s Senate said on Wednesday it will investigate oil company Shell Plc (SHEL.L) over alleged illegal extensions of oil......

Ukraine hits oil Crimean drilling platforms, pro-Russian regional head says

Reuters
June 20 (Reuters) – Ukrainian forces attacked drilling platforms in the Black Sea owned by a Crimean oil and gas company, the pro-Russian head of the annexed peninsula said on Monday, giving no details of what weapons were used. Three people were wounded and a search was under way for......

U.S. energy developer Double Eagle raises $1.7 billion for new venture

Reuters
June 19 (Reuters) – Double Eagle, a team of prolific oil and gas developers focused on the Permian basin, have raised more than $1.7 billion from a group of investors to fund their latest venture, according to a statement to Reuters on Sunday. The sum is one of the largest......

Venezuelan oil exports to Europe set to resume after two years

Reuters
The logo of Italian energy company Eni is seen at a gas station in Rome, Italy September 30, 2018. REUTERS/Alessandro Bianchi Register now for FREE unlimited access to Reuters.com Register June 17 (Reuters) – A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni (ENI.MI) is about to set sail carrying......

U.S. energy chief to discuss record pump prices with refiners next week

Reuters
WASHINGTON, June 16 (Reuters) – U.S. Energy Secretary Jennifer Granholm called an emergency meeting with refining executives for next week, a department spokesperson said on Thursday, as tensions between the Biden administration and Big Oil mount over soaring gasoline prices. The planned talks come as President Joe Biden, under pressure......

Biden blasts oil refiners for record high gasoline prices, profits

Reuters
Gas prices over the $6.00 mark are advertised at a 76 Station in Santa Monica, California, U.S., May 26, 2022. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register WASHINGTON, June 15 (Reuters) – U.S. President Joe Biden on Wednesday demanded oil refining companies explain why they are......

Founder Harold Hamm offers to take Continental private at $25-bln value

Reuters
June 14 (Reuters) – Continental Resources Inc (CLR.N) said on Tuesday it received an all-cash offer from billionaire-founder Harold Hamm’s family trust, a deal which could take the U.S. shale producer private at a valuation of $25.41 billion. If both sides reach an agreement, it would result in the most......

Shareholder LGIM says has ‘strong reservations’ about Capricorn, Tullow merger

Reuters
Workers are seen at an oil exploration site in Bulisa district approximately 244km (152 miles) North-West of Kampala January 20, 2012. REUTERS/Stringer Register now for FREE unlimited access to Reuters.com Register LONDON, June 13 (Reuters) – Legal & General Investment Management, a significant shareholder in Capricorn Energy (CNE.L) and Tullow......

Norway oil firms, workers agree wage deal in principle, avert strike for now

Reuters
The West Hercules drilling rig leaves Skipavika, Norway April 1, 2018. REUTERS/Gwladys Fouche/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, June 12 (Reuters) – Norwegian oil firms and employees have agreed in principle a new wage deal, avoiding for now a strike at nine fields that......

Norway negotiators work overtime to avert oil strike

Reuters
A general view of Equinor’s Johan Sverdrup oilfield platforms in the North Sea, Norway, December 3, 2019. REUTERS/Ints Kalnins/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, June 12 (Reuters) – Norwegian oil workers and their employers have extended wage negotiations past a midnight deadline in a......

EXCLUSIVE CVC explores $2 billion sale of software firm VelocityEHS -sources

Reuters
June 10 (Reuters) – Private equity firm CVC Capital Partners is exploring a sale of VelocityEHS for as much as $2 billion, seeking to capitalize on a boom in demand for compliance software in the corporate world, three people familiar with the matter said. CVC is working with U.S. investment......

Freeport LNG plant blast adds to strain on global supplies

Reuters
HOUSTON, June 9 (Reuters) – Freeport LNG, operator of one of the largest U.S. export plants producing liquefied natural gas (LNG), will shut for at least three weeks following an explosion at its Texas Gulf Coast facility, raising the risk of shortages especially in Europe. Freeport LNG, which provides around......

EXCLUSIVE Spain’s Repsol in talks to sell 25% of oil and gas unit to EIG, sources say

Reuters
A Repsol logo at a petrol station in Bormujos near the Andalusian capital of Seville, southern Spain March 3, 2016. REUTERS/Marcelo del Pozo Register now for FREE unlimited access to Reuters.com Register LONDON, June 7 (Reuters) – EIG is in early discussions with Repsol (REP.MC) to buy a slice of......

Texas power use to hit record as temperatures soar

Reuters
Overhead power lines are seen during record-breaking temperatures in Houston, Texas, U.S., February 17, 2021. REUTERS/Adrees Latif Register now for FREE unlimited access to Reuters.com Register June 6 (Reuters) – Power demand in Texas is set to break its all-time record this week, testing the resilience of the grid after......

Beirut to invite U.S. envoy for maritime talks after spat with Israel

Reuters
Lebanon, Israel at odds over offshore field Israel says Lebanese claims ‘very far from reality’ BEIRUT/JERUSALEM, June 6 (Reuters) – Lebanon said on Monday it would invite a U.S. mediator to Beirut to continue negotiations over a disputed maritime boundary with Israel to prevent any escalation after accusing Israel of......

Exclusive: U.S. will allow two companies to ship Venezuelan oil to Europe

Reuters
HOUSTON/WASHINGTON, June 5 (Reuters) – Italian oil company Eni SpA and Spain’s Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up......

Argentina announces tender to build new Vaca Muerta gas pipeline

Reuters
BUENOS AIRES, June 4 (Reuters) – Argentina has launched a tender process to build a new gas pipeline out of its huge Vaca Muerta shale formation that is expected to increase current transport capacity by 25%, the government said late on Friday. Companies have until July 8 to submit bids,......

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