NEWS

  • France’s Total Looks To Sell Its Stake In Kurdistan Oilfield
    on December 4, 2020

    France’s supermajor Total is in talks to sell its 18-percent stake in an oilfield in Iraq’s semi-autonomous region of Kurdistan, with which it could raise around $500 million, Bloomberg reported on Friday, quoting sources with knowledge of the plans.   Total is working with Jefferies Group on the potential sale of its stake in the Sarsang exploration block in northern Iraqi Kurdistan, which is operated by HKN Energy, a subsidiary of Dallas-based Hillwood International Energy. Total is looking to divest assets as it weathering this…

  • Fitch Sees Brent At $45 Next Year
    on December 4, 2020

    Fitch Ratings said it expected Brent crude to average $45 a barrel next year, following OPEC+’s decision to start raising production by 500,000 bpd monthly from January 2021. “We expect prices to be, on average, at $45 next year for Brent,” Fitch senior director Dmitry Marinchenko told CNBC today. “This assumes that the demand will remain weak until at least the second half of the year, because the progress with mass vaccination probably will not be very quick,” he added. Vaccine news sent oil prices higher at the…

  • Gasoline, Distillate Inventories Surge Amidst Sluggish Thanksgiving Demand: EIA
    on December 2, 2020

    Gasoline and distillate inventories both surge due to depressed demand during the Thanksgiving travel week, according to the latest EIA report. The post Gasoline, Distillate Inventories Surge Amidst Sluggish Thanksgiving Demand: EIA appeared first on GasBuddy for Business.

  • Gas Prices Pick Up Steam As Oil Rallies
    on November 30, 2020

    As Americans hit the road for Thanksgiving, the nation’s average gas price climbed after falling last week, rising 1.8 cents per gallon to $2.11 today according to GasBuddy data. The post Gas Prices Pick Up Steam As Oil Rallies appeared first on GasBuddy for Business.

  • MOL Norge AS received a permit from the Norwegian Petroleum Directorate to drill well 2/9-6 S in production license 617 in the North Sea. The area in this license consists of part of Block 2/9.
  • The US drilling rig count increased 3 units to reach 323 rigs working for the week ended Dec. 4, according to Baker Hughes data. The count is down 476 units from the 799 rigs working this time a year ago.