Source: CNBC Oil and natural gas prices have leaped globally in the last three months. Former U.S. Secretary of Energy Rick Perry said $100 oil within next six months is possible. “The potential for disaster […]
Source: U.S. Energy Information Administration and Bloomberg The price of U.S. benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020. Because of the economic […]
Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain and inadequate investment crippled the nation’s energy infrastructure. PDVSA cut its daily production target to 1 million barrels from a […]
Italian oil major, Eni, announced this week that it has made three new oil and gas discoveries in the Meleiha region of western Egypt. The new discovery further adds to Egypt’s recent announcement that it […]
ENB Publishers Note: Note that when Saudi Arabia announced several months ago that they are planning on having a budget surplus at the end of 2022, those numbers are banking on oil over $90. Saudi […]
Oil gained as investors turned their attention to a key OPEC+ meeting, with the group facing calls from consumers to pump more crude. Futures in New York rose back above $81 a barrel, with the […]
Harold Hamm, one of the richest and most prominent shale wildcatters, is finally taking a stake in North America’s biggest oil field. Continental Resources Inc., the shale driller created and controlled by Hamm, agreed to […]
Global oil demand has already exceeded the threshold of 100 million barrels per day (bpd) last seen before the pandemic, supermajor BP estimates. Demand will continue to increase and reach pre-COVID levels at some point […]
It was supposed to be a blockbuster quarter for energy names thanks to the ongoing surge in oil prices and it did not disappoint: earlier today Chevron reported stellar Q3 earnings, beating on the top […]
Exxon Mobil Corporation and Chevron Corporation on Friday disclosed plans to expand drilling in the top US shale basin after posting their biggest quarterly profits in years. Latecomers to the west Texas shale fields, both […]
Copyright © 2025 | Sandstone Group