Petroleum

Domestic Petroleum Demand Declines as Travel Wanes Amid Coronavirus Outbreaks, EIA Says

Domestic Petroleum Demand Declines as Travel Wanes Amid Coronavirus Outbreaks, EIA Says

U.S. petroleum use decreased for a third-consecutive week, with gasoline and jet fuel demand both declining during a period that, in typical years, is marked by heavy travel around the Thanksgiving holiday. In its latest Weekly Petroleum Status Report covering the period ended Nov. 27, the Energy Information Administration (EIA) said Wednesday that overall petroleum…

December 2, 2020
EIA Records Uptick in Jet Fuel Demand Ahead of Holiday, but Overall Petroleum Demand Falls

EIA Records Uptick in Jet Fuel Demand Ahead of Holiday, but Overall Petroleum Demand Falls

Petroleum demand in the United States declined around 2% last week as motor gasoline use fell, while demand for jet fuel saw an uptick for the period leading up to the Thanksgiving holiday, according to the latest data from the Energy Information Administration (EIA). In its updated Weekly Petroleum Status Report, EIA recorded roughly 19.2…

November 25, 2020
Petroleum Demand Declines Along with Coronavirus Spikes, EIA Says

Petroleum Demand Declines Along with Coronavirus Spikes, EIA Says

U.S. petroleum demand decreased last week, with gasoline and jet fuel demand both down from the prior week and well below 2019 levels. In its latest Weekly Petroleum Status Report, EIA said Wednesday that overall petroleum demand fell 3% week/week and was 8% below levels for the comparable week a year earlier. On a year/year…

November 18, 2020
U.S. Oil, Natural Gas Rig Count at Record Low as Demand Recovery Sputters

U.S. Oil, Natural Gas Rig Count at Record Low as Demand Recovery Sputters

U.S. oil and natural gas drilling activity has hit its lowest point since Baker Hughes Co. began publishing rig count data in 1987, the Energy Information Administration (EIA) said Wednesday.

May 20, 2020
Canada Oil, Natural Gas Drilling Seen Plunging to 49-year Low Amid Pandemic, Demand Rout

Canada Oil, Natural Gas Drilling Seen Plunging to 49-year Low Amid Pandemic, Demand Rout

Canadian oil and natural gas drilling is plummeting to the slowest pace in half a century, report the industry’s field contractors.

May 4, 2020
U.S. Petroleum Consumption to Lowest Level Since Early 1990s on Covid-19 Mitigation

U.S. Petroleum Consumption to Lowest Level Since Early 1990s on Covid-19 Mitigation

Consumption of petroleum products in the United States fell to 13.8 million b/d in the week ending April 10, according to the Energy Information Administration (EIA), the lowest level since at least the early 1990s, when the agency began publishing such data.

April 23, 2020
Qatar Starts Drilling Wells to Feed Planned LNG Mega Trains

Qatar Starts Drilling Wells to Feed Planned LNG Mega Trains

State-owned Qatar Petroleum said Wednesday that it has spud the first of 80 wells as part of its ambitious North Field East (NFE) Project aimed at significantly expanding its liquefied natural gas (LNG) output in the coming years.

April 15, 2020
Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s Energy Information Administration (EIA) to publish data on oil storage capacity as a warning indicator of potential shut-in oil production.

April 1, 2020
Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s Energy Information Administration (EIA) to publish data on oil storage capacity as a warning indicator of potential shut-in oil production.

April 1, 2020

Oxy Floats ‘Poison Pill’ in Bid to Dilute Icahn Stake

The Occidental Petroleum Corp. (Oxy) board on Friday adopted a limited duration stockholders rights plan, known commonly as a “poison pill,” in an effort to dilute activist billionaire shareholder Carl Icahn’s growing stake in the Houston-based independent.

March 16, 2020
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