Archives for 2017
Statoil to boost drilling; Other co’s will cut, report says
The Norwegian multinational oil and gas company Statoil is boosting its exploration budget this year. Statoil announced on Wednesday it plans to drill about 30 exploration wells in 2017, an increase of roughly one-third compared...
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Tillerson meeting with Congress ahead of confirmation hearing
WASHINGTON – Rex Tillerson, the former Exxon Mobil CEO and President-elect Donald Trump’s pick for Secretary of State, is meeting with members of Congress Wednesday ahead of an expected nomination hearing next week. Among those...
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Natural gas prices surged in 2016
Energy prices rose more than prices for any other commodity in 2016, with natural gas experiencing the largest percentage increase, according to a year end analysis by the U.S. Department of Energy. Energy prices rose...
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U.S. gasoline spending could spike by $50 billion in 2017
U.S. motorists are expected to spend $50 billion more to fill their tanks this year as rising oil prices put an end to sub-$2 a gallon gasoline, squeezing consumer finances just as wages begin to...
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OPEC’s push to normalize oil market may be working
When it comes to OPEC production cuts, “We tend to cheat,” said former Saudi Arabia Oil Minister Ali al-Naimi after the group reached an agreement to curb output late last year. But the extent of...
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