Downstream

U.S. natgas up 4% as Ukraine war causes global oil and gas prices to soar

This post was originally published on this siteU.S. natural gas futures rose 4% to near a four-week high on Wednesday, gaining some rare support from surging global oil and gas prices as the Russia-Ukraine conflict stokes energy supply concerns. Since the start of the year, the U.S. gas market has mostly shrugged off what was […]

U.S. natgas up 4% as Ukraine war causes global oil and gas prices to soar Read More »

Exxon CFO puts cost of exiting Russia at 1% to 2% of output and earnings

This post was originally published on this siteMarch 2, 2022 Exxon Mobil Corp’s decision to leave Russia and discontinue oil and gas operations will hit earnings, oil production “any stat you chose” between 1% and 2%, its finance chief said on Wednesday Chief Financial Officer Kathryn Mikells provided the estimate to Wall Street analysts during

Exxon CFO puts cost of exiting Russia at 1% to 2% of output and earnings Read More »

IEA’s reserves release won’t stop oil prices rising, says Goldman

This post was originally published on this siteThe International Energy Agency (IEA)’s decision to release 60 million barrels from emergency oil reserves is not sufficient to meet the supply shortfall caused by Russia’s invasion of Ukraine or prevent prices from going higher, Goldman Sachs said. The IEA release represented a “one-month offset to a potential

IEA’s reserves release won’t stop oil prices rising, says Goldman Read More »

U.S. shale oil forecasts keep rising as smaller producers lead the way

This post was originally published on this siteMarch 2 (Reuters) – Publicly traded U.S. shale firms are not budging on production restraint vows as oil markets surge amid Russia’s invasion of Ukraine, leaving smaller producers to lead output gains during the highest prices in seven years. Oil futures on Tuesday traded up as much as

U.S. shale oil forecasts keep rising as smaller producers lead the way Read More »

Texas Oil Regulator Heads for Apparent Runoff in Republican Primary Vote

This post was originally published on this siteMar 2, 2022 (Bloomberg) A Texas oil regulator critical of renewable fuel and “woke” ESG investing appeared headed for a runoff vote after failing to win a clear majority in the Republican primary for a seat on the powerful panel that oversees oil production in the nation’s largest source

Texas Oil Regulator Heads for Apparent Runoff in Republican Primary Vote Read More »

OPEC+ Makes Modest Supply Hike as Russia Turmoil Lifts Price

This post was originally published on this siteMar 2, 2022 (Bloomberg) OPEC and its allies agreed another modest revival in supplies for April at a low-key meeting that was overshadowed by the market turmoil unleashed by Russia’s invasion of Ukraine.The 23-nation coalition led by Saudi Arabia ratified an increase of 400,000 barrels a day on Wednesday,

OPEC+ Makes Modest Supply Hike as Russia Turmoil Lifts Price Read More »

Shopping Cart