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Home2022June

Month: June 2022

Pioneer
Crude Oil News

Pioneer CEO: Oil will likely stay above $100/bbl for 5-plus years

June 28, 2022 Mariel Alumit

Pioneer Natural Resources Corp. chief executive officer Scott Sheffield got to the point within 40 seconds of starting his formal remarks at an investor conference hosted by JPMorgan. “We’re [Pioneer] only going to grow 5% […]

France’s
Crude Oil News

France’s Macron tells Biden that UAE, Saudi pumping near oil limits

June 28, 2022 Mariel Alumit

(Bloomberg) — French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can. The UAE is […]

U.S. crude
Energy Policy

U.S. emergency oil reserve draws by 6.9 mln barrels to lowest since 1986

June 28, 2022 Mariel Alumit

HOUSTON, June 27 (Reuters) – U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy. Stockpiles in […]

OPEC+
Crude Oil News

OPEC+ running out of oil production capacity, Nigeria says

June 28, 2022 Mariel Alumit

(Bloomberg) — The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister. “Some people believe the prices to be […]

Fracking
Crude Oil News

U.S. Shale Drillers Begin Re-Fracking Existing Wells

June 28, 2022 Mariel Alumit

Oil well re-fracking is on the rise in the United States. Re-fracking of existing shale wells can cost up to 40 percent less than drilling a new well. Re-fracking could also help U.S. shale drillers […]

Permian Basin
Finance

Sitio Royalties Announces Highly Accretive Permian Basin Acquisitions

June 27, 2022 Mariel Alumit

DENVER–(BUSINESS WIRE)–Sitio Royalties Corp. (NYSE: STR) (“Sitio” or the “Company”) today announced it has (i) completed the acquisition of over 19,700 net royalty acres (“NRAs”) in the Permian Basin from Foundation Minerals, a Midland-based portfolio […]

Ecuador
International News

Ecuador Could Completely Stop Pumping Oil Within 48 Hours

June 27, 2022 Mariel Alumit

Ecuador could be forced to suspend all oil production within 48 hours as anti-government protests in the country intensify, the Ecuadorian energy ministry warned. The production suspension was to be “due to the acts of […]

wind farm
International News

2 GW Irish floating wind farm planned to power green hydrogen, ammonia production

June 27, 2022 Mariel Alumit

The Killybegs Fishermen’s Organisation and Sinbad Marine Services have proposed a floating wind farm to be built more than 50 kilometres offshore Donegal, Ireland, and have signed a Memorandum of Understanding with Swedish floating wind […]

U.S.
Crude Oil News

U.S. drillers add oil and gas rigs for a record 23 months -Baker Hughes

June 27, 2022 Mariel Alumit

U.S. energy firms this week added oil and natural gas rigs for a second week in a row, in a record 23-month streak of increases, as high crude prices and prodding by the government prompted […]

Philippine
Finance

Philippine tycoon Razon eyes $515 mln Prime Infrastructure IPO

June 27, 2022 Mariel Alumit

MANILA, June 21 (Reuters) – Philippine ports and gaming tycoon Enrique Razon on Tuesday launched an up to 28 billion pesos ($515 million) initial public offering (IPO) for his infrastructure and energy holding firm, according […]

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