Sentences with phrase «u.s. oil producer»

NEW ORLEANS U.S. oil producer Devon Energy Corp said on Monday it was looking to sell even more assets than previously announced in order to focus its portfolio on three shale regions.

HOUSTON, April 26 (Reuters)- U.S. oil producer ConocoPhillips said on Thursday its first - quarter profit jumped 52 percent due to rising crude prices and cost cuts.

HOUSTON, April 26 U.S. oil producer ConocoPhillips said on Thursday its first - quarter profit jumped 52 percent due to rising crude prices and cost cuts.

CARACAS Venezuela on Thursday scorned a $ 2.04 billion award to ConocoPhillips over a decade - old nationalization as the U.S. oil producer filed suit in a federal court to enforce the decision.

April 30 (Reuters)- Whiting Petroleum Corp reported first - quarter profit on Monday compared with a year - ago loss as the U.S. oil producer benefited from higher oil prices and lower costs.

April 30 (Reuters)- Whiting Petroleum Corp reported first - quarter profit that beat Wall Street estimates on Monday as the U.S. oil producer benefited from higher oil prices and production.

April 30 - Whiting Petroleum Corp reported first - quarter profit on Monday compared with a year - ago loss as the U.S. oil producer benefited from higher oil prices and lower costs.

April 30 - Whiting Petroleum Corp reported first - quarter profit that beat Wall Street estimates on Monday as the U.S. oil producer benefited from higher oil prices and production.

Domestic exports have not dipped below 1 million barrels a day since late November, as U.S. oil producers fill the void left by reduced capacity from Mexico and Venezuela.

Some analysts and U.S. oil producers fear Keystone XL will depress crude prices by adding to an already oversupplied global market.

However, that configuration is ill - suited to an era when the fastest - growing crude oil supply is coming from the middle of the bowl, from U.S. oil producers using new extraction techniques and the Canadian oilsands.

This factor took a back seat during the oil price rally in recent months, but with production growth of nearly 850,000 barrels per day since late in the summer, U.S. oil producers have demonstrated how aggressive they can be in a rising price environment.

U.S. oil producers, especially in shale plays across the region, are likely crossing their fingers t...

Not exact matches

The quest to regain the top producer spot in one of the most - prolific U.S. shale basins had eluded Hamm's Continental since at least 2014, when Whiting bought smaller rival Kodiak Oil and Gas.

Cenovus, one of the biggest of Canada's oil sands producers, said in March that it was operating at lower capacity due to the maxing out of pipelines and other routes through which it sends heavy oil south to U.S. markets.

For the second consecutive quarter, Continental bested rival Whiting Petroleum Corp to be the largest oil producer in the Bakken, solidifying that crown and its place as one of the most - prolific U.S. shale companies.

With oil, which is traded internationally, prices collapsed (mainly) because the Saudis have flooded the market with supply in an attempt to retake lost market share from U.S. producers — whom also drilled too many successful wells.

The teaser for the panel on energy markets that I am speaking on at the Milken Institute Global Conference, highlights relentless U.S. production offsetting OPEC reductions, renewables disrupting traditional energy markets, and the geopolitical implications of U.S. production growth displacing Russia as the world's largest oil producer.

And with supplies from Iraq threatened with disruption — in recent years, Iraq was the only major producer increasing its output faster than the U.S. and Canada — that American oil is only going to get more competitive in the marketplace.

But growing oil prices has had the unintended side effect of allowing U.S. shale producers to restart operations.

U.S. shale producers have pioneered new techniques to drill oil more efficiently but also in places that were once seen as impossible.

In 2014 he argued lower oil prices are unambiguously good — versus the Fed's and most economists» view that there are winners and losers to lower oil prices as the U.S. has become a bigger producer.

OPEC said Monday it expects demand for oil to grow faster than it originally expected in 2018, but the organization also sees supplies from beyond the producer group surging this year, driven by rising U.S. output.

OPEC also said Thursday that the world's total oil supply rose by 180,000 barrels a day last month, mainly because of non-OPEC producers such as the U.S., Norway and the U.K.

Analysts estimate that a sanction - free Iran could add another 1 million barrels per day of oil to global supply by 2016, providing a supply cushion if U.S. shale producers end up running out of financing.

Other analysts, like economist Nouriel Roubini, argued that cheap oil would last just a year or 18 months before producers like Saudi Arabia had successfully flushed out higher - cost competitors like shale producers here in the U.S.

It has imperiled multibillion - dollar deals and could ravage business relationships for years to come, as well as pummel the earnings of countless U.S. businesses, from oil producers to investment banks.

Since the 1970s, the oil trade has almost entirely been conducted in U.S. dollars, even when buyers and producers are not American.

HOUSTON, April 16 - Billionaire activist investor Carl Icahn on Monday nominated a five - person slate of his employees and business associates to replace the SandRidge Energy Inc board of directors, escalating his fight for control of the U.S. shale oil producer.

HOUSTON, April 16 (Reuters)- Billionaire activist investor Carl Icahn on Monday nominated a five - person slate of his employees and business associates to replace the SandRidge Energy Inc board of directors, escalating his fight for control of the U.S. shale oil producer.

«U.S. shale growth is very strong, the pace is very strong... The United States will become the No. 1 oil producer sometime very soon,» he told Reuters separately.

Everyone from medical equipment suppliers to software producers to food services companies — all of these sectors service the oil and gas industry, and many of the largest happen to be based in the U.S.

Analysts interpreted this move as an attempt to squeeze higher - cost producers, including U.S. shale oil, out of the market.

The relentless rise of U.S. shale growth could soon spark another dramatic change of policy from leading oil producers, according to the latest monthly report from the International Energy Agency (IEA).

Ahead of the deal, however, Nigeria's oil minister had insisted the group was «aligned» and was in agreement about extending the cuts, despite the risk of a strong comeback by U.S. shale oil producers.

HOUSTON, April 10 - U.S. shale oil producer Devon Energy Corp said on Tuesday it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline its operations.

U.S. shale producers are churning out crude oil at such a relentless pace that the country will soon become the most influential player in the energy market, according to an analyst.

The agreement does not include U.S. shale oil producers, and there are concerns that rising oil prices, largely thanks to the oil output cut, has allowed U.S. producers to come back online.

To be sure, U.S. shale oil producers have played the part of the spoiler this year.

Meanwhile, the generally elevated oil prices have sparked a spat between U.S. President Donald Trump and producer cartel OPEC.

What's more, any uptick in oil prices will likely incentivize non-OPEC countries, for instance, U.S. shale producers, to pump up supplies.

The push by the U.S. energy industry into hydraulic fracking and horizontal drilling unleashed an energy boom, making the United States the world's biggest producer of natural gas and just recently the second - largest producer of oil, surpassing Saudi Arabia.

In November, the International Energy Agency, a Paris - based think - tank supported by energy - consuming developed nations, predicted the U.S. would surpass Saudi Arabia as the world's largest oil producer before 2020, and be self - sufficient in energy by 2035.

Chevron Corp, the second - largest U.S. - based oil producer, slashed its 2016 capital budget by 25 percent and said it would lay off roughly 10 percent of its workforce, one of the most - drastic reactions to date to the plunge in crude prices CLc1.

O'Loughlin said that relatively high oil prices, supported by healthy demand and production cuts by the Organization of the Petroleum Exporting Countries (OPEC) to tighten markets, «are encouraging U.S. shale producers to continue ramping up production.»

SINGAPORE, May 3 (Reuters)- Oil prices fell early on Thursday, pulled down by a rise in U.S. crude inventories and record weekly U.S. production, which is countering efforts by producer cartel OPEC to cut supplies and prop up prices.

The bottlenecks are frustrating for Canadian oil producers because heavy crude is in great demand from U.S. Gulf of Mexico refineries, which are designed to process it, and have faced shortages of Venezuelan and Mexican heavy crude.

SINGAPORE, May 3 - Oil prices dipped on Thursday, weighed down by swelling U.S. crude inventories and record weekly U.S. production that is countering efforts by producer group OPEC to cut supplies and prop up prices.

Even if the U.S. starts to charge for every barrel of Canadian bitumen that crosses the border, the fee is so small that oilsand producers, who shoulder a price discount of around $ 60 - a-barrel on headline oil prices, might not even notice.

Recent studies have shown that if Canadian oil were able to reach the U.S. Gulf Coast and Asia, the impact of higher revenues to Canadian producers over a 15 year period would amount to an additional $ 132 billion in Canadian GDP.