• Saudi Arabia Presents ‘Evidence’ Linking Iran To Oil Plant Attacks Link
    EIN Oil & Gas News Wed 18 Sep 2019 18:01

    Share to facebook Share to twitter Share to linkedin Saudi military spokesman Col. Turki al-Malki displays what he describes as an Iranian cruise missile and drones used in an attack this weekend that targeted the heart of Saudi Arabia's oil industry ASSOCIATED PRESSTopline: Saudi Arabia has presented what it says is evidence that rival Iran was behind crippling missile attacks …

  • Oil price drops for 2nd day as Saudi crude output recovers Link
    EIN Oil & Gas News Wed 18 Sep 2019 16:00

    Updated 10:32 am CDT, Wednesday, September 18, 2019 Workers refuel the tank at a gas station in Jiddah, Saudi Arabia, Tuesday, Sept. 17, 2019. U.S. President Donald Trump declared Monday that it "looks" like Iran was behind the explosive attack on Saudi Arabian oil facilities. He stressed that military retaliation was not yet on the table in response to the strike against …

  • Chesapeake Energy: Currently More Revenue From Oil Than Natural Gas Link
    EIN Oil & Gas News Wed 18 Sep 2019 14:00

    Chesapeake Energy (CHK) is in the process of transforming itself from a natural gas company into a balanced exploration and production company with an emphasis on oil. The stock price of Chesapeake Energy has tracked the decline in natural gas prices over the last few months and has ignored the progress the company has made in advancing its oil production. As Chesapeake continues …

  • Saudi attacks to have 'short-term' impact, affect oil prices - Iran oil minister Link
    EIN Oil & Gas News Wed 18 Sep 2019 12:00

    DUBAI — Iran’s oil minister said on Wednesday attacks on Saudi oil installations at the weekend will have a “short-term” impact, but they will affect crude prices, the semi-official news agency ISNA reported. “The effects of this event will be short-term, but it will affect the price of oil in all countries,” Bijan Zanganeh said, according to ISNA. (Reporting by Dubai newsroom; …

  • StockBeat: Oil Majors' Dividends Stand out as Crude Settles Above $60 Link
    EIN Oil & Gas News Wed 18 Sep 2019 10:05

    By Geoffrey Smith Investing.com -- Europe’s stock markets were modestly higher after early trading on Wednesday, content to mark time ahead of the U.S. Federal Reserve’s interest rate decision, which won’t come until after the European close. Sentiment was helped by the partial pull-back in crude prices after Saudi Arabia said it would be pumping oil at full capacity again by the …

  • "Stop blocking the oil and gas industry" Link
    EIN Oil & Gas News Wed 18 Sep 2019 08:05

    Canada's oil and gas industry is at a crossroads. “Do we choose as a nation to support and grow this industry?” asked Darren Gee, CEO of Peyto Exploration and Development, at a Kelowna Chamber of Commerce lunch on Friday. “Or do we shut it down and see someone else benefit from the investment, revenues, economic and social development?” It’s Energy Week in Canada and the …

  • Recent oil facility bombings overseas cause local market speculation, gas price hike Link
    EIN Oil & Gas News Wed 18 Sep 2019 06:05

    One YSU economics professor said political uncertainty tends to make the markets nervous by: Gerry Ricciutti Posted: Sep 17, 2019 / 05:25 PM EDT / Updated: Sep 17, 2019 / 06:21 PM EDT YOUNGSTOWN, Ohio (WKBN) – At least one local fuel supplier thinks the recent hike in gas prices was more of a knee-jerk reaction to problems in the Middle East, and not necessarily a sign …

  • Refining The Oil And Gas Industry With IoT Link
    EIN Oil & Gas News Wed 18 Sep 2019 04:05

    The oil and gas industry is making headway in realizing the potential of IoT by making things much easier for companies to carry out their daily operations. Benefits of using IoT in oil and gas operations Here's how the use of IoT in oil and gas operations is transforming the industry: Drilling management Drilling is a major part of oil and gas industry procedures. The Internet …

  • Oil CEOs Are Taking a Wait-and-See Approach After Attack Sends Crude Prices Soaring Link
    EIN Oil & Gas News Wed 18 Sep 2019 02:05

    Monday was an unprecedented day in the oil market. Over the weekend, enemies of Saudi Arabia conducted a drone attack on key parts of the kingdom's oil infrastructure, halving its production output. The damage to its crude-oil processing facilities cut the global supply by about 5%, making it the most significant disruption in the market's history. Unsurprisingly, crude …

  • What will the Middle East oil tension mean for gas prices in Alberta? Link
    EIN Oil & Gas News Wed 18 Sep 2019 00:05

    Expect to see a jump at the pump in Calgary after an oil attack in Saudi Arabia. Senior Petroleum Analyst Dan McTeague explains just how high gas prices will go and why this incident will push Canada’s pipeline debate back into the spotlight.

  • Senate incidents involving pro-oil and gas shirts highlight lack of clarity in legislatures’ rules Link
    EIN Oil & Gas News Tue 17 Sep 2019 22:05

    Two recent incidents that saw visitors wearing pro-oil and gas shirts banned from touring the Senate have industry watchers questioning the clarity of rules at legislatures across Canada. Twice this month, visitors to parliament buildings were asked to remove items of clothing sporting the slogan “I love Canadian Oil and Gas.” In both cases, the men involved said security personnel …

  • Saudi Arabia says oil output will return to pre-attack levels in weeks; crude prices plunge 6% Link
    EIN Oil & Gas News Tue 17 Sep 2019 20:04

    Saudi Arabia has recovered half of the oil production that was lost due to the attacks on its oil infrastructure over the weekend, and the kingdom said production will be fully restored by the end of this month. The news came during a news conference Tuesday afternoon in Jiddah by Saudi energy minister Prince Abdulaziz bin Salman. Saudi Aramco’s critical Abqaiq processing plant has …

  • Oil prices plunge on report Saudi oil output will be restored sooner than expected Link
    EIN Oil & Gas News Tue 17 Sep 2019 18:04

    Crude prices abruptly fell nearly 6 percent Tuesday, retreating on a report that Saudi Arabia would recover from a devastating attack on its oil industry sooner than expected. Weekend drone strikes took out an oil processing plant and nearby oil field operated by state-owned Aramco, forcing the company to cut its output in half. That took 5.7 million barrels of crude out of daily …

  • Oil, gas reserves discovered in Kohat: OGDCL Link
    EIN Oil & Gas News Tue 17 Sep 2019 16:04

    ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) claimed on Tuesday to have discovered oil and gas reserves at its Chanda Well-05 in Khyber-Pakhtunkhwa’s (K-P) Kohat district. According to a preliminary test, the well could produce 76 Barrel per Day (BPD) of crude oil, and 0.512 Million Standard Cubic Feet per Day of (MMSCFD) gas. “This is the first discovery of crude …

  • Dangerous oil and gas industry exemption slipped into highway bill Link
    EIN Oil & Gas News Tue 17 Sep 2019 14:04

    A landmark five-year, $287 billion highway bill moving in the Senate contains a poison pill provision that must be eliminated. The measure — which would be the largest highway legislation in history — is noteworthy for its inclusion of the first climate title in a surface transportation bill. The climate provisions are an important step toward addressing the urgent need to reduce …

  • Bahrain to become hub for health and safety global benchmark in oil, gas sectors Link
    EIN Oil & Gas News Tue 17 Sep 2019 12:04

    MANAMA: As the countdown for the 7th Global HSE Conference and Exhibition 2019 kicks start, the Kingdom of Bahrain plans to become global hub for creating health and safety benchmarks for multi-billion-dollar Oil and Gas industry. The 7th edition of the Global Health, Safety and Environment Conference and Exhibition will be held under the patronage of H.E. Shaikh Mohammed bin …

  • What the Attack on Saudi Arabia's Oil Infrastructure Means for the Oil Market Link
    EIN Oil & Gas News Tue 17 Sep 2019 10:04

    Drone attacks on Saudi Arabia's oil infrastructure over the weekend shook the oil market to its core. The hit caused the leading oil producer to take half of its production offline. At more than 5 million barrels per day, that equated to 5% of global supplies disappearing from the market. It's the largest disruption ever to hit the oil market. Oil prices responded in kind. …

  • Iran’s involvement in attack on Saudi Arabia’s oil facilities raises gas prices? Link
    EIN Oil & Gas News Tue 17 Sep 2019 08:04

    Lars brings on Tom Pyle, the president at the Institute for Energy Research to discuss the recent attack on oil facilities in Saudi Arabia.  Many American’s should be concerned about the disruption in global oil production as it increased prices by 13% over the weekend in the United States.  Listen below for more. The post Iran’s involvement in attack on Saudi Arabia’s oil …

  • Oil and gas awareness… Region’s readiness to safeguard environment being discussed at high-level confab Link
    EIN Oil & Gas News Tue 17 Sep 2019 06:04

    Sep 17, 2019 News 0 As Guyana prepares for oil production in early 2020, systems must be in place to ensure there are operational practices are carried out to safeguard the environment. Participants at the Enhancing Offshore E&P Regional Capacity; Operational and Environmental Safeguards Conference at the Marriott Hotel in Kingston, Georgetown (DPI photo) Yesterday, at the …

  • Tokyo shares touch 4-mth highs, oil & gas sector up on soaring crude Link
    EIN Oil & Gas News Tue 17 Sep 2019 04:03

    TOKYO, Sept 17 (Reuters) - Japan’s Nikkei share average edged up to a four-month high on Tuesday, as soaring oil prices triggered by attacks on Saudi oil facilities boosted oil and gas-related companies. The benchmark Nikkei average added 0.2% to 22,021.86 in mid-morning trade to mark its highest level since May 7, while the broader Topix rose 0.5% to 1,617.80, also its highest in …

  • AAA reports Crude Oil Prices Spike Following Attacks on Saudi Arabian Oil Facilities Link
    EIN Oil & Gas News Tue 17 Sep 2019 02:03

      Tampa, FL – On the week, the national gas price average held steady at $2.56, but motorists can expect some volatility at the pump in the coming days and weeks. Over the weekend, Saudi Arabia experienced drone attacks on two major oil facilities – including the world’s largest, Abqaiq. The attacks have taken 5.7 million (crude) barrels per day off the market, accounting for about …

  • Attacks on Saudi oil could cause U?S? gas prices to rise by 10 to 25 cents a gallon, experts say Link
    EIN Oil & Gas News Tue 17 Sep 2019 00:03

    Should the recovery take weeks or months, though, the impact could be far-reaching. Higher fuel prices can not only motivate consumers to cut spending elsewhere but also ultimately reach into virtually every corner of the economy. Airlines, cruise ships, trucking, railroads and retailers all will feel the pinch of higher fuel prices. State-run Saudi Aramco churned out 9.85 million …

  • Crude oil prices spike following attacks on Saudi oil facilities Link
    EIN Oil & Gas News Mon 16 Sep 2019 22:03

    Kansas motorists can expect pump price jumps coming to stations as soon as this week AAA Prior to the attacks, global crude oil supply was very healthy, in fact sitting on a global glut of stocks. Regardless, initial market reaction to the attacks spiked crude oil prices.  At the start of the work week, crude oil (West Texas Intermediate, WTI) is trading for $5/bbl more than on …

  • Saudi oil attacks could cause U?S? gas prices to rise by 10 to 25 cents a gallon, experts say Link
    EIN Oil & Gas News Mon 16 Sep 2019 20:03

    Attacks on state-owned Saudi oil installations over the weekend crippled the world’s second-largest oil producer and sparked new geopolitical tensions — but whether consumers feel the pain hinges on how quickly normal production is restored, experts say. The strikes mark the biggest disruption to the global oil market in decades. Saudi Aramco churned out 9.85 million barrels per …

  • Oil prices up 12% after attack on key Saudi oil facilities Link
    EIN Oil & Gas News Mon 16 Sep 2019 18:03

    NEW YORK (Reuters) - Oil prices jumped roughly 12% on Monday after an attack on Saudi Arabian crude oil facilities over the weekend sliced the kingdom’s production in half and intensified concerns of retaliatory actions in the Middle East. FILE PHOTO: Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum industry at the Drake Well …

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