The Latest

Crude Oil

Brent Rises to Highest Since March Following OPEC+ Oil Deal

OPEC+ had been expected to extend existing cuts until at least March, after backing down from earlier plans to boost oil output by 2 million bbl/d.

December 3, 2020

Crude Oil

Report: OPEC+ Agrees to Small Oil Output Hike from January

OPEC, Russia and allies, a group known as OPEC+, had previously been expected to extend existing oil cuts of 7.7 million bbl/d, or 8% of global supplies, until at least March.

December 3, 2020

Public Capital

Pioneer’s Sheffield: Few Independents Will Survive Oil Downturn

The consolidation trend among oil and gas producers will continue, Pioneer CEO Scott Sheffield says, before vaccines pave the way for recovery.

December 3, 2020

Petrochemicals

Magellan Midstream to Boost Fuel Loading Capacity in Cheyenne, Wyoming

Magellan Midstream Partners said on Dec. 2 it will invest about $4.65 million to increase truck loading capacity at its refined oil products Cheyenne terminal in Wyoming by more than 50%.

December 2, 2020

Natural Gas

Tellurian Withdraws FERC Application to Build Permian Basin Pipeline

U.S. LNG developer Tellurian Inc. told federal energy regulators on Dec. 1 it wants to withdraw its application to build the Permian Global Access natural gas pipeline.

December 2, 2020

Public Capital

Pioneer CEO Scott Sheffield Sees Oil Demand Recovery to Pre-pandemic Levels by 2022

Pioneer Natural Resources is putting drilling rigs back to work in the Permian Basin oil field, but plans for oil production growth of zero to 5% while demand recovers, CEO Scott Sheffield says.

December 1, 2020

Business

US Shale Firms Amp up Gas Output as Futures Signal More Gains

Shale producers are increasing spending on natural gas, a change from the past, amid forecasts for a 45% jump in gas prices next year compared to a 15% gain for Brent prices.

December 1, 2020

Exploration & Production

Norway Oil Output Curbs to Expire at Year-end

Following a sharp drop in crude prices in early 2020 as the coronavirus pandemic hit demand, Norway in April announced it would slash oil output for the final seven months of the year.

December 1, 2020

Crude Oil

Report: OPEC+ Postpones Oil Output Policy Talks Amid Disagreement

After consultations on Nov. 29 failed to reach agreement, sources said Russia suggested a possibility for OPEC+ to start increasing output by 500,000 bbl/d each month from January.

November 30, 2020

Master Limited Partnerships

MLP Investors’ Free Cash Flow Wish to Come True

MLPs and midstream companies are starting to show free cash flow operational results, experts say.

November 30, 2020