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June 8, 2021

Shale Oil / Shale Gas

Exxon Mobil signals better first-quarter earnings as oil prices climb

Reuters
FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young/File Photo (Reuters) – Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil......

China’s Sinopec raises 2021 capital expenditure by 23.8%

Reuters
BEIJING (Reuters) – China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and energy demand as the COVID-19 epidemic subsided. Sinopec expects to spend 66.8 billion yuan on upstream exploration focusing on......

Senators float a price on methane to curb U.S. oil, gas emissions

Reuters
WASHINGTON (Reuters) – Three Democratic U.S. senators on Tuesday floated a bill that would take a new approach to curbing emissions from methane from oil and gas production – putting a price on it. Senators Sheldon Whitehouse, Cory Booker and Brian Schatz introduced the Methane Emissions Reduction Act, which directs......

RPT-COLUMN-Oil risks overheating after OPEC+ leaves output unchanged: Kemp

Reuters
(Repeats March 5 story with no change to text. John Kemp is a Reuters market analyst. The views expressed are his own.) * Chartbook: tmsnrt.rs/3kMuhS1 * OPEC in its own words: tmsnrt.rs/3kLLhYD LONDON, March 5 (Reuters) – By deciding to leave production unchanged for another month at its meeting on......

Goldman hikes Brent forecast, says ‘shale discipline’ behind OPEC strategy

Reuters
FILE PHOTO: A drilling rig is seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo (Reuters) – Goldman Sachs Commodities Research raised its Brent forecast for second and third quarter by $5 a barrel after OPEC and......

Saudi Aramco, Chevron chiefs see global oil demand recovery

Reuters
(Reuters) – Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executive of Saudi Aramco told an oil and gas conference on Tuesday. Global demand for oil is likely to recover from the second half of the year and could reach 99 million......

Occidental Petroleum expects temporary impact from winter storms

Reuters
FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid (Reuters) – The impact of severe winter storms in Texas last week that shuttered oil production in the top......

Oil prices rise further on slow U.S. output restart

Reuters
SINGAPORE (Reuters) – Oil prices rose again on Tuesday after a jump in the previous session, holding near a more than 13-month high as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week. FILE PHOTO: An employee holds a sample of......

Occidental Petroleum posts larger quarterly loss on asset sale

Reuters
HOUSTON (Reuters) – Occidental Petroleum Corp on Monday posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results. FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New......

Oil gains as U.S. production slowly returns after freeze

Reuters
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo TOKYO (Reuters) – Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised......

Chesapeake Energy emerges from bankruptcy and shifts back to natural gas

Reuters
HOUSTON (Reuters) – U.S. shale producer Chesapeake Energy Corp on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil. FILE PHOTO: Chesapeake Energy Corporation’s 50 acre campus is seen in Oklahoma City, Oklahoma, on April......

Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

Reuters
By Maiya Keidan, Rod Nickel TORONTO (Reuters) – Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in......

OPEC crude output cuts should help U.S. shale profits in 2021

Reuters
HOUSTON (Reuters) – A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer. FILE PHOTO: A Marathon......

OPEC crude output cuts should help U.S. shale profits in 2021

Reuters
HOUSTON, Jan 10 (Reuters) – A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer. U.S. crude......

Column – Oil sees more fund buying, but risks shifting: Kemp

Reuters
LONDON (Reuters) – Hedge fund managers were substantial buyers of petroleum futures and options last week for the fourth week in a row, a sign of increasing confidence coronavirus vaccines will drive a recovery in oil consumption next year. FILE PHOTO: Oilfield equipment is parked at a Basic Energy Services......

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