Archives for September 2019
Top oil trader sees ‘unprecedented’ uncertainty
Oil prices might have been relatively calm over the last couple of months, but the levers pushing and pulling them have reached “in some cases unprecedented” levels of uncertainty, according to Vitol Group. Source: FuelFix
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Oil rises as new Saudi minister signals OPEC+ cuts to continue
Oil rose for a fourth day after Saudi Arabia’s new energy minister signaled that OPEC and its allies will continue with production cuts as the group prepared to gather in Abu Dhabi. Source: FuelFix
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Total rig count falls below 900 for first time since 2017
The total tally of U.S. rigs drilling for oil and gas fell below 900 this week for the first time since 2017 as oilfield activity continues to slow. Source: FuelFix
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Exxon Mobil reportedly selling Norwegian North Sea assets for $4B
Exxon Mobil is reportedly finalizing the sale of its Norwegian North Sea assets to a Norway firm backed by Italy’s Eni and private equity funding for about $4 billion, according to Reuters and Norwegian media....
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Venezuela’s oil woes deepen as Chinese contractor halts work
A Chinese oil contractor halted work on an expansion project in Venezuela because it hasn’t been paid, underscoring the difficulties for the Nicolas Maduro regime even at energy ventures backed by allies. Source: FuelFix
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