Statoil projects big returns from massive North Sea oil field
The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day. More »
Exxon sees profit rise on refining strength
Exxon CEO Rex Tillerson said that the earnings growth was “driven by higher margins and improved operations in the downstream and chemical businesses.” More »
U.S. crude output rises to highest since 1980s on shale boom
U.S. crude production climbed to the highest level in at least three decades last week as the shale boom moved the country closer to energy independence. More »
Cabot’s profits soar 44 percent on climbing production
The Houston energy producer posted record high production thanks largely to its footprint in the Marcellus Shale and Eagle Ford Shale. More »
Shale boom tested as plummeting prices threaten U.S. drillers
More supply from hydraulic fracturing and horizontal drilling, and less demand, are contributing to the tumble in West Texas Intermediate crude. More »
Exxon, Pemex sign cooperation agreement
The companies agreed to analyze exploration, drilling and refining opportunities. More »
Eagle Ford continues to gush despite rapid well declines
Although Eagle Ford wells tend to drop in production by 60 to 70 percent in the first year, the shale has seen significant surges in crude oil production, the U.S. Energy Information Administration said in a report released Monday. More »
Rigs targeting gas in U.S. gain on rise in Texas drilling
The rebound in gas rigs threatens to come at the expense of oil drilling, as U.S. crude has dropped by more than $10 a barrel over the past three months. More »
Surging Middle East oil increases tanker rates
The oil-refining wave in the Middle East is filling tankers to export the region’s processed fuels and driving freight rates to the highest for the time of year since 2008. More »
Report: U.S. crude could fall $30 below international prices without exports
The going rate for a barrel of oil in the U.S. could tumble $30 below international benchmarks in the coming decades if U.S. policymakers don’t reverse a ban on exporting crude oil, according to a report by analyst group Wood Mackenzie. More »
NRG may expand carbon capture plans
NRG is installing technology at the W.A. Parish plant to capture carbon dioxide before it is emitted into the atmosphere. More »
Marathon Oil earnings up on U.S. oil output
Rising shale oil production pushed Marathon Oil Corp.’s profits up 27 percent in the second quarter as the firm worked to improve its hydraulic fracturing in North America. More »
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