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Oil declines as OPEC members boost output, U.S. rig count gains

NEW YORK (Bloomberg) -- Oil declined as OPEC members added supply and U.S. producers increased drilling, threatening to compound a global surplus. Futures fell by as much as 1.8 percent. Libyan output expanded to 560,000 bopd, according to......【More】

2016-10-18

Newfield CEO sees cautious approach on ‘huge’ Oklahoma oil find

OKLAHOMA CITY (Bloomberg) -- Dont expect a major ramp-up of oil production in Oklahomas hot new shale plays any time soon, even as companies invest billions of dollars in the region, said Newfield Exploration Co.s CEO. Producers need more e......【More】

2016-10-17

RSP to pay $2.4 billion for Permian oil driller Silver Hill

CHICAGO (Bloomberg) -- RSP Permian Inc. agreed to pay $2.4 billion in cash and stock for Silver Hill Energy Partners amid increasing competition for drilling rights in the biggest U.S. oil field. RSP plans to finance the transaction with $1......【More】

2016-10-14

Shell North Sea sale said to draw Ineos, Siccar Point bids

LONDON (Bloomberg) -- Royal Dutch Shell has invited binding bids from parties including Ineos AG and Blackstone Group LP-backed Siccar Point Energy for the sale of some of its UK North Sea assets worth about $2 billion, according to people......【More】

2016-10-13

Weekly Fund Flows:Oil lubricates EM pipe flows

A week dominated by taper and OPEC talk saw fund investors desert DMequities, moving into oil-sensitive EM mandates and HY funds. DM equityredemptions were the highest since end-July as DM ETF inflows (whichbenefitted from positive risk sen......【More】

2016-10-12

Four scenarios for oil producers as they seek to boost prices

LONDON (Bloomberg) -- A meeting in Algiers at the end of September between OPEC and Russiawhich together pump more than half the worlds oilhas raised expectations that a deal could be struck to boost prices. Oil is still trading at half its......【More】

2016-09-09

GE Oil & Gas inks FPSO agreement with MODEC

LONDON -- GE Oil Gas has signed a major agreement with MODEC, an owner/operator and EPCI general contractor of floating production systems, to supply and service gas turbines for FPSOs in Brazil. MODEC ordered GE gas turbines for eight FPSO......【More】

2016-09-08

Oil-market rescue seen no nearer amid Saudi-Russia ‘lip service’

LONDON (Bloomberg) -- An international agreement to cap crude-oil output in a way that would restrict actual supply and support prices looks no nearer after the two largest producers pledged to cooperate. Most members of the Organization of......【More】

2016-09-07

Iran’s ready to pump more as OPEC faces ‘prisoner’s dilemma’

SINGAPORE (Bloomberg) -- As speculation swirls over whether oil producers will reach a deal to coordinate output and aid a recovery in prices, Iran says its ready to pump more. The OPEC member can raise production to 4 MMbpd in two to three......【More】

2016-09-06

Stable oil price requires Saudi, Russian cooperation, prince says

HANGZHOU, China (Bloomberg) -- Global oil-market stability is impossible without the cooperation of Russia and Saudi Arabia, the worlds biggest crude producers, the kingdoms influential deputy crown prince said, speaking with Vladimir Putin......【More】

2016-09-05