Archives for 2017
Conoco’s oil sands, gas asset sales slash output back to 2002 levels
ConocoPhillips’ two recently announced multibillion-dollar asset sales in North America will reduce its oil and gas production to the lowest levels since 2002. The Houston oil company estimates its annual energy output will fall from...
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China looks away from OPEC for oil imports
China, the world’s largest oil importer, is getting more and more of its crude from outside its traditional suppliers in the Organization of Petroleum Exporting Countries. According to a new report from the U.S. Energy...
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Banks raise borrowing bases for some oil companies
Banks have given a handful of U.S. oil companies an extra financial boost this month, increasing the amount of money they can borrow for new drilling projects and other purposes. Lenders have recently lifted the...
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Harvest Natural Resources sells assets in Gabon, begins dissolution
The small Houston oil company Harvest Natural Resources has sold assets in Africa and started the process of liquidation and dissolution. Harvest has struggled financially for months. Last June, the firm said it was selling...
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Manufacturers worry exports will drive up natural gas prices
American manufacturing companies are worried that a boom in liquefied natural gas exports will reduce domestic supply and raise prices. The Industrial Energy Consumers of America sent a letter to Energy Secretary Rick Perry on...
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