Oil prices decline as coronavirus expands #OilmanNEWS Alex Mills Contributors Oil and Gas News 

Oil Prices Decline as Coronavirus Expands

Worldwide crude oil prices have been soft during the past five years because of weak demand and an oversupply. Recent news of the coronavirus in China, the world’s largest oil importer, has reduced demand further as its economy struggles to counter the downturn. The U.S. Energy Information Administration (EIA) on Thursday revised its forecast for global liquid fuels down 378,000… Read More
Petroleum companies’ financial performance down #OilmanNEWS Alex Mills Business Contributors Exploration & Production Oil and Gas News Upstream 

Petroleum Companies’ Financial Performance Down

As many oil and gas companies began releasing their 2019 financial reports this week, it became apparent that last year was a stinker financially even though there was record production in the U.S. Exxon Mobil, the nation’s largest energy company, reported a 31 percent decline in earnings compared to 2018. Chevron reported an 80 percent decline. Two other international, integrated… Read More
Oil, gas producers’ success brings a new set of issues #OilmanNEWS Alex Mills Contributors Exploration & Production Oil and Gas News Upstream 

Oil, Gas Producers’ Success Brings a New Set of Issues

The exploration-and-production (E&P) sector of the U.S. oil and gas industry faces many financial hurdles this year as forecasts of stagnant demand with increasing supplies give the appearance that prices for crude oil and natural gas will be flat. The Energy Information Administration (EIA) at the Department of Energy reported last week it expects West Texas Intermediate (WTI) crude oil… Read More
Energy wins in U.S.-China trade agreement #OilmanNEWS Alex Mills Business Contributors Oil and Gas News 

Energy Wins in U.S.-China Trade Agreement

President Trump signed an agreement with China this week that will increase trade between the two countries in many sectors of the economy, especially for agriculture, manufacturing and energy. During the signing ceremony at the White House on Wednesday, Trump said the deal will mean some $200 billion dollars to the U.S. economy. U.S. energy exports will increase $18.5 in… Read More
Texas Petro Index Declines 8 Percent in 2019 #OilmanNEWS Alex Mills Contributors Exploration & Production Oil and Gas News Texas 

Texas Petro Index Declines 8 Percent in 2019

The oil and natural gas industry in Texas and the United States established record levels of production in 2019 and even became a net petroleum exporter for the first time since records have been kept. Crude oil production nationwide peaked at 12.5 barrels per day, and net petroleum exports were 89,000 barrels per day in September. Texas led all states… Read More
Few changes expected for oil supply, demand #OilmanNEWS Alex Mills Contributors Downstream Oil and Gas News 

Few Changes Expected for Oil Supply, Demand

Crude oil markets were cautious following the meeting of OPEC last week, and the announcement by the International Energy Agency (IEA) it expects a modest increase in worldwide supply and demand. Crude oil was trading in the $63-$64 range on the international market from Brent crude oil and in the $58-$59 range for West Texas Intermediate on the New York… Read More
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