Archives for January 2017
Saudis say output cuts unlikely to last beyond June
Oil traded near $52 a barrel as Saudi Arabia’s energy minister said it was unlikely OPEC would extend its supply cuts beyond June and the U.S. drilling expansion paused. Futures were little changed in New...
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ConocoPhillips found what could be 300 million barrels of oil in Alaska
ConocoPhillips has found a new Alaskan oil vein 90 miles west of the prolific Prudhoe Bay field, one that may hold 300 million barrels of oil. The discovery could become a multibillion-dollar project that takes...
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Drilling rig count falls for first time since September
Activity in the oil patch took its biggest step backward since June with seven drilling rigs removed from oil fields throughout the U.S. The overall rig count fell this past week for the first time...
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Transco pipeline network funneling record volume to heat the Northeast
The nation’s largest natural gas pipeline system is funneling more gas than ever from Texas to help warm the Eastern Seaboard. Oklahoma-based Williams said its crown jewel Transco interstate pipeline network is delivered record-setting natural...
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Will Exxon’s new Guyana discoveries fly without more infrastructure?
Analysts are beginning to worry that Exxon Mobil’s large Guyana discovery could be hamstrung by a lack of pipelines and infrastructure. Exxon announced on Thursday its second oil discovery on Guyana’s Stabroek Block. The Payara-1...
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