U.S. crude stocks rise for a sixth week, fuel draws down -EIA

oil price.jpeg01 November 2018, News Wires — U.S. crude oil inventories climbed for a sixth straight week, but grew less than forecast last week, amid a drop in net imports and the government’s sale of barrels from its reserve, while gasoline and distillate stocks drew down. The Energy Information Administration said on Wednesday that crude inventories … More »

Spain’s Repsol gets oil price lift, Venezuela breakthrough

01 November 2018, News Wires — Higher oil prices boosted third quarter profit at Spanish oil major Repsol, which also managed to recoup some of the money it had been unable to access due to a crisis in Venezuela. A more than 40 percent rise in the price of crude helped Repsol’s exploration and production business, … More »

U.S. crude output jumps to record 11.35 mln bpd in Aug – EIA

01 November 2018, News Wires — U.S. crude oil production surged by 416,000 barrels per day (bpd) to a record 11.346 million bpd in August the U.S. Energy Information Administration said in a monthly report on Wednesday. The rise came as production climbed in Texas and North Dakota to fresh peaks of 4.58 million bpd and … More »

Anadarko Petroleum posts profit miss

01 November 2018, News Wires — Oil producer Anadarko Petroleum Corp on Tuesday fell short of third-quarter profit expectations but said its onshore oil sales hit a record and per-barrel margins had improved. Total volumes for the quarter rose to 682,000 barrels of oil equivalent per day, an increase of 9 percent from the same quarter … More »

Hess posts first profit since 2014 on cost cuts, higher oil prices

01 November 2018, News Wires — U.S. oil and gas producer Hess Corp posted its first profit in about four years in the third quarter and also easily beat analysts’ estimates, as the company sold oil at higher prices and managed to slash costs by 62 percent. New York-based Hess has been under intense pressure to … More »

Billing issues: PHED begins customers account reconciliation

Mkpoikana Udoma 01 November 2018, Sweetcrude, Port Harcourt — The Port Harcourt Electricity Distribution Company, PHED, has set aside two days in a month across all its Integrated Business Centres in Akwa Ibom, Bayelsa, Cross River and Rivers states for a special reconciliation of customers’ accounts with billing related issues. The Port Harcourt Disco explained … More »

Equinor seeks oil, gas, renewable investments in India -CEO 1

01 November 2018, News Wires — Norwegian energy firm Equinor is exploring investment opportunities in India, its chief executive told Reuters on Wednesday. “We are looking at India both from oil and gas, but also from the renewables. It’s a very early (stage), but we need to be on the ground,” Eldar Saetre said on the … More »