29 C
Lagos, South Africa and New York
Saturday, June 6, 2020

As shale wells grow longer, buyouts attract hemmed in oil producers

BEIJING/SINGAPORE (Reuters) - Shanghai crude oil futures fell further on Thursday and were at parity with the U.S. market, as state oil majors and local traders piled on more bearish bets amid concerns about domestic refinery demand. The latest drop takes the fall since...

Brent Near Two-Year Highs

Energy Wednesday, November 1,2017 O il prices steadied on Tuesday after a week of gains, as the prospect of increasing US exports dampened bullish sentiment that has driven Brent to more than two-year highs of over $60 per barrel. Benchmark Brent was down 10 cents at $60.80...

Investors push U.S. shale firms to separate executive pay from drilling

by Ernest Scheyder HOUSTON  - Activist investors are taking aim at U.S. shale producers, the companies most responsible for turning the nation into a global energy powerhouse, pushing them to stop rewarding executives for spending billions of dollars on new wells when crude prices are...

Oil needs to stay $50 a barrel for US drillers to make money says Moody’s

Drillers need prices to stay above $50 a barrel for oil and $3 per mmBtu for natural gas in order to make a significant return on capital, Moody's says. Producers have driven down costs, but capital efficiency now depends on higher oil and...

Libya Oil Output Gains as Country Faces Calls to Join OPEC Cuts

By Salma El Wardany Producer is said to pump 950,000 b/d on Sharara field re-start Rising Libyan supply complicates OPEC effort to drain oil glut Libya’s oil output is rising again after disruptions ended at its biggest field,...

BHP Billiton hires Barclays and Citi for US shale gas sale

BHP Billiton (LON:BLT) has hired Barclays and Citigroup to help it exit its underperforming US shale oil and gas business, Reuters has reported. The move comes after the Anglo-Australian miner recently revealed that it was planning to exit its US shale business, amid pressure...

Citi: U.S. Shale Beats OPEC At $40 Oil

Citigroup has said that U.S. shale will prevail over OPEC because of its higher resilience to low prices and OPEC’s losing strategy of cutting output and losing revenues and market share. Citigroup’s head of commodity research, Ed Morse, told Bloomberg in an interview that OPEC...

Why rising US shale production keeps pressure on crude prices – Opec

US shale oil output is growing at a faster than expected rate, keeping pressure on prices despite steep supply curbs from some of the world’s biggest producers, Opec said in its monthly market report on Thursday. Despite countries inside the cartel and outside, such as...

Oil surplus or scarcity? Shale makes it even harder to predict

By Amanda Cooper | LONDON The shale oil boom has transformed the U.S. and global energy sector to such an extent that it has upended traditional supply dynamics and made forecasts far more polarized. Investment banks, many of which finance new projects, along with oil majors...

Yuval Noah Harari on the future according to Facebook

Can Facebook really create a new global community? Historian Yuval Noah Harari challenges Mark Zuckerberg’s vision Mark Zuckerberg last month published an audacious manifesto on the need to build a global community, and on Facebook’s role in that project. His 5,700-word letter — on his...