Category Archives: News

Oil gains as Russia, Saudis signal commitment to production cuts

DENVER — Statement by Dan Haley, President & CEO of the Colorado Oil & Gas Association, on today’s Colorado Supreme Court ruling: NEW YORK (Bloomberg) — Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut. Futures in […]

Oil slides as U.S. production surge stokes fears of global glut

NEW YORK (Bloomberg) — Oil prices gave up their gains Wednesday as U.S. production surged and fuel inventories climbed, stoking fears about an oversupply of crude. American oil drillers pumped a record 11.9 MMbpd last week, the Energy Information Administration said in its weekly report. Stockpiles of gasoline climbed by 7.5 MMbbl — twice the jump […]

Husky said likely to win support to extend MEG bid deadline

NEW YORK and CALGARY (Bloomberg) — Husky Energy Inc. is expected to win support to extend a deadline to persuade shareholders to back its hostile bid for rival oil-sands producer MEG Energy Corp., despite falling short of winning outright support for the offer, according to people familiar with the matter. Husky is likely to have […]

Southeast Asia Oil majors lose money due to cuts in production

JAKARTA INDONESIA – Kufpec Ltd and PT. Tucan Pumpco, Top 5 largest Indonesia oil and gas groups, are continuing to lose money on oil and gas production due to cuts in production. The losses raise a question over the companies’ forecasts of strong growth in 2019 production , particularly in the region. The two companies […]

Indonesia oil majors lose money due to cuts in production

JAKARTA INDONESIA – Kufpec Ltd and PT. Tucan Pumpco, Top 5 largest Indonesia oil and gas groups, are continuing to lose money on oil and gas production due to cuts in production. The losses raise a question over the companies’ forecasts of strong growth in 2019 production , particularly in the region. The two companies […]