Oil and Gas
U.S. crude oil tops $130 a barrel, a 13-year high on possible Western ban of Russian oil
The oil and gas terminal at the Port of Odessa in Odessa, Ukraine, on Saturday, Jan. 22, 2022. Christopher Occhicone | Bloomberg | Getty Images U.S. crude oil surged more than 8% in early trading on Sunday evening as the market continued to react to supply disruptions stemming from Russia’s ongoing invasion of Ukraine and …
Saudi Aramco profit drops after Covid-battered year, upholds dividend
A worker at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. Stanislav Krasilnikov | TASS | Getty Images Oil giant Saudi Aramco reported a 44% slump in full-year 2020 results, but maintained its $75 billion dollar dividend payout, with CEO Amin Nasser describing …
End of Qatar blockade is ‘a win for the region’: Saudi foreign minister
The end of the Gulf dispute is a win for the region, Saudi Arabia’s foreign minister told CNBC after announcing that relations between Qatar and four Arab countries have been fully restored. Leaders of the Gulf Cooperation Council and Egypt on Tuesday signed an agreement that aims to strengthen unity and cohesion. The deal came …
Energy Industry Adoption Of AI
The energy sector is a highly technology-driven industry. With needs to handle natural resource data among large pieces of equipment in harsh conditions, the oil and gas industry has long used data methods and various technologies to make processes more efficient. More recently companies in the energy industry have begun to ramp up their adoption …
Oil Giants In Permian Will Use New Technology To Track Methane Emissions – Houston Public Media
Gas is burned off from an oil well in West Texas. Oil producers in the Permian Basin are implementing new technology to better measure methane emissions. The computer program will help oil and gas companies track how much methane they’re emitting, and what methods are best reducing methane leaks. It was created by the nonprofit …
Shell’s second-quarter profit slumps 82% on coronavirus hit to oil prices, energy demand
Carl Court | AFP | Getty Images Oil giant Royal Dutch Shell on Thursday reported a sharp drop in net profit for the three months through to the end of June, following an unprecedented period of energy market turmoil and significantly weaker oil and gas prices. The Anglo-Dutch company reported adjusted earnings of $638 million …
This oil price crash isn’t as bad as it seems — here’s why
Something that’s never happened in the oil market is happening today: negative prices on an oil contract. While many people may see this and think the overall price of oil is negative, there’s nuance. The short answer is that no, not all oil is free. The picture in the market is not as bleak as …
Crude oil gives up 12% gain, turns negative as traders await OPEC cut details
U.S. oil dropped more than 9% on Thursday, giving back an earlier gain of more than 12%, as the Street awaited details on production cuts from OPEC and its allies, known as OPEC+. An extraordinary meeting between the oil-producing nations, which kicked off around 10:45 a.m. ET, remains ongoing. Producers were reportedly amenable to scaling …
OPEC meeting to decide on historic output cuts
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russian Energy Minister Alexander Novak at the start of an OPEC and NON-OPEC meeting in Vienna, Austria, December 6, 2019. Leonhard Foeger | Reuters Some of the world’s largest oil producers will hold an emergency meeting on Thursday to try to agree on historic …
Brent crude could plunge to ‘single-digit lows’ if no OPEC+ deal: Fitch
Red Cross medics measure the temperature of participants of the 178th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on March 5, 2020. Alex Halada | Getty Images Brent crude futures could plunge to “single-digit lows” if major oil producers fail to reach a deal to cut output at a time when demand …
