Tag Archive

‘’Lower Your Costs, Or Die’’

‘’Lower Your Costs, Or Die’’

February 18, 2019 No Comments

Fracking and the booming short-cycle shale production in the Permian have revolutionized not only U.S. crude oil production. The prolific shale basin in West Texas and New Mexico has also shown U.S. supermajor Chevron that it needs to become more efficient in all of its other upstream operations, according to chairman and chief executive Mike […]

Shell, ExxonMobil, and Chevron Post Best Results In Years

Shell, ExxonMobil, and Chevron Post Best Results In Years

February 5, 2019 No Comments

Despite the nearly 40-percent oil price slide in the fourth quarter, supermajors booked solid sets of Q4 and 2018 results, suggesting that they have learned to raise profits even when oil prices are well below $100 a barrel and may never return to the triple-digit mark. Three of Big Oil’s five—Shell, ExxonMobil, and Chevron—reported strong […]

Crude Oil Price Movement to 22/01/19

Crude Oil Price Movement to 22/01/19

January 22, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.49 a barrel on Monday, 21 January 2019, compared with $60.90 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

Crude Oil Price Movement to 07/01/19

Crude Oil Price Movement to 07/01/19

January 7, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $55.14 a barrel on Friday, 4 January 2019, compared with $52.95 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

UK supermarkets cuts Petrol prices

UK supermarkets cuts Petrol prices

December 3, 2018 No Comments

Three major UK supermarkets have announced cuts to fuel prices today as the wholesale cost continues to decrease. Customers at Asda, Sainsbury’s and Morrisons will benefit from 2p per litre discount on unleaded and diesel. Drivers will now pay no more than 116.7p per litre on unleaded and 127.7p per litre on diesel at Asda […]

Saudis Scramble To Stop Oil Price Slide

Saudis Scramble To Stop Oil Price Slide

November 13, 2018 No Comments

Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that would go a long way to reversing […]

Outlook for Africa’s oil & gas industry improves – PwC report

Outlook for Africa’s oil & gas industry improves – PwC report

November 6, 2018 No Comments

The outlook for Africa’s oil & gas industry is positive amid difficult operating and economic headwinds. Tough economic and external conditions have placed pressure on oil & gas companies to be more cost-effective and efficient. Companies have adopted to a low-cost environment, which promises to be even more beneficial given the current recovering oil price. […]

Anadarko Announces 2018 Third-Quarter Results

Anadarko Announces 2018 Third-Quarter Results

October 30, 2018 No Comments

Anadarko Petroleum Corporation (NYSE: APC) today announced 2018 third‑quarter results, reporting net income attributable to common stockholders of $363 million, or $0.72 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by $48 million, or $0.10 per share (diluted), on […]

ENERGY NEWSTRACK TO 12/09/18

ENERGY NEWSTRACK TO 12/09/18

September 12, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $76.02 a barrel on Tuesday, 11 September 2018, compared with $75.20 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

Iran And Saudi Arabia Reignite The Oil Price War

Iran And Saudi Arabia Reignite The Oil Price War

August 14, 2018 No Comments

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to […]

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