Oil prices fell in early trade on Friday as a massive hurricane raced inland past the heart of the U.S. oil industry in Louisiana and Texas, with a storm surge weaker than predicted.U.S. West Texas Intermediate (WTI) crude futures fell 16 cents…
Oil companies in the U.S. Gulf of Mexico had, by Wednesday 11:30 CDT, evacuated workers from 299 oil companies due to a threat from the hurricane Laura, the U.S. offshore safety body BSEE said. According to the BSEE report Wednesday, oil firms…
Oil rose towards $46 a barrel on Wednesday, near the highest since March, lifted by U.S. producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in U.S. crude inventories.Renewed worries over the COVID-19 pandemic…
The U.S. energy industry began preparing for a major hurricane strike by Tuesday, cutting crude production at a rate approaching the level of 2005's Hurricane Katrina and halting oil refining at plants along the Texas/Louisiana coast.The storm…
Crude oil prices rose on Tuesday, supported by production cuts in the U.S. Gulf Coast as Tropical Storm Laura was forecast to become a major hurricane while rising coronavirus cases in Asia and Europe capped gains.Brent crude oil futures added 37 cents…
U.S. Gulf of Mexico oil companies shut around 82 percent of oil production on Monday and evacuated personnel bracing for the impact of two tropical storms Marco and Laura.From operator reports, the U.S. Bureau of Safety and Environmental Enforcement said Monday that approximately 82…
The Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, on Sunday shut its Marine Terminal operations due to the threat of Tropical Storms Marco and Laura in the Gulf of Mexico.Clovelly Hub deliveries remain normal…
Crude oil prices remained steady on Monday as storms closed in on the Gulf of Mexico, shutting more than half the region's oil production, although prices were capped by ongoing concerns about fuel demand being sapped by coronavirus lockdowns…
U.S. President Donald Trump on Tuesday signed into law a rare bipartisan bill that will use royalties from offshore oil and gas drilling operations to fund long-overdue maintenance of public lands, national parks, and Native American schools…
U.S. offshore oil and gas producer Fieldwood Energy said Tuesday it had filed for chapter 11 bankruptcy to restructure the company.The company filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas…
Offshore drilling contractor Pacific Drilling has lost a two-well contract for its Pacific Sharav drillship with Murphy Oil, but has managed to secure a ten-well deal with the same client, only at a later date.The drillship recently completed…
Israel's Navitas Petroleum said on Tuesday the Blackstone Group signed a preliminary deal to raise its stake in a drilling project in the Gulf of Mexico to 47% from 16%.Navitas had partnered with U.S. oil firm LLOG and Blackstone's portfolio…
U.S. Gulf of Mexico-focused oil and gas company has informed that the Enterprise 264 jack-up rig has moved to a location near its SM58G platform offshore Louisiana.The drilling rig was last week moved to its recently installed South Marsh Island 58 G location…
Global oil and gas project sanctioning is set for a monstrous 75% plus drop in 2020 from 2019 levels, as the Covid-19 pandemic has led to massive E&P spending cuts, the energy intelligence company Rystad Energy has estimated.According to Rystad Energy…
As part of its 2017-2022 offshore oil and gas leasing program, the U.S. administration plans to hold a 'region-wide' Gulf of Mexico lease sale in November 2020. The lease sale was originally expected to be held in August but due to the oil and gas market downturn…