Archives for February 2020
Total profit beats estimates on rising oil and gas output
Total SA’s fourth-quarter profit beat even the highest estimate as record production offset the impact of slumping natural gas prices and strikes at its French oil refineries. Source: FuelFix
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Oil snaps 5-day losing streak on potential OPEC+ production cuts
(Bloomberg) — Oil reversed five days of losses as the potential for an OPEC+ production cut overshadowed an uptick in U.S. crude inventories. Futures climbed 2.3% in New York on Wednesday, gaining the most in...
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Guyana backs Exxon deal, slams ‘malicious’ NGO study
(Bloomberg) — Guyana vigorously defended its oil contract with Exxon Mobil Corp. after the deal was criticized by human-rights group Global Witness just a month before the country holds a general election. The report faulted...
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Southcross Energy exits bankruptcy, moving headquarters to Houston
Dallas pipeline operator Southcross Energy is moving to Houston and is emerging from Chapter 11 bankruptcy focused on the Eagle Ford Shale of South Texas. Source: FuelFix
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Crude oil stockpiles rise as global demand dips
Stockpiles of commercial crude oil began rising in the U.S. last week as the spread of the coronavirus in China began hitting global oil demand. Source: FuelFix
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