Petroleum Industry News

Video: Oil companies to cut back spending on Alaska drilling

Sat, 21 Nov 2009 00:00:00 +0000

Video: Oil Prices Close Week On The Downside On Stronger Dollar

Fri, 20 Nov 2009 22:02:01 +0000

11/20/09 Front month crude prices fell this past trading session as the US dollar continued to strengthen.

Video: Will Houston See Economy Boost Soon?

Thu, 19 Nov 2009 23:48:48 +0000

$70 plus a barrel. In the oil patch you could call it the "comfort zone."

Video: Oil Prices Slide On Strong Dollar

Thu, 19 Nov 2009 21:35:49 +0000

11/19/09 Front month crude prices dropped this session following a stronger US dollar and a drop in US equities

Video: Oil Prices Steady

Wed, 18 Nov 2009 22:29:04 +0000

11/18/09 Front month crude prices remained steady this session as a decline in inventories clashed with a decline in energy demand.

Video: 11/17 Oil Prices Flat On Mixed Data

Tue, 17 Nov 2009 21:54:27 +0000

11/17/09 Front month crude prices traded mostly flat this session on mixed signals.

Video: Carlsbad Company Says It Can Produce Oil From Algae

Tue, 17 Nov 2009 06:04:36 +0000

Video: 11/16 Crude Rallies to Begin Week

Mon, 16 Nov 2009 22:11:48 +0000

11/16/09 Fropnt month crude prices rallied to start a new trading week as a weaker dollar and gain in equities kept investors flocking towards commodities.

Video: 11/13 Crude Prices Fall On Lower Demand

Fri, 13 Nov 2009 22:26:15 +0000

11/13/09 Front month crude prices fell this past trading session on rising concerns over falling energy demand.

Video: Sieminski Says Oil Demand `Weak' Despite U.S. Recovery: Video

Fri, 13 Nov 2009 22:00:49 +0000

Nov. 1 (Bloomberg) -- Adam Sieminski, chief energy economist at Deutsche Bank AG, talks with Bloomberg's Julie Hyman and Mark Crumpton about crude oil demand. Sieminski also discusses the impact of the dollar's fall on oil markets, the outlook for oil prices and oil companies' investment in expanding oil production capacity. (Source: Bloomberg)

Video: U.S. Stocks Fall as Energy Shares Slump on Supply Data: Video

Fri, 13 Nov 2009 01:14:00 +0000

Nov. 12 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. equity benchmark indexes fell from 13-month highs as energy shares slumped following bigger-than-estimated growth in oil stockpiles, erasing an earlier advance spurred by Hewlett-Packard Co.’s takeover of 3Com Corp. The dollar rose the most versus the euro since August. (Source: Bloomberg)

Video: 11/12 Oil Prices Decline On Stockpile Rise

Thu, 12 Nov 2009 21:56:21 +0000

11/12/09 Oil prices declined this session as crude stockpiles rose more-than-expected last week.

Video: 11/11 Oil Rises On Rebound In Chinese Economy

Wed, 11 Nov 2009 22:07:41 +0000

11/11/09 Front month crude prices rose this session despite a jump in crude stockpiles due to a rebound in the Chinese economy.

Video: Gazprom's Medvedev Expects Natural Gas Demand to Recover: Video

Tue, 10 Nov 2009 16:08:09 +0000

Nov. 10 (Bloomberg) -- Alexander Medvedev, deputy chief executive officer of OAO Gazprom, talks with Bloomberg's Hans Nichols about the outlook for natural gas demand. Medvedev also discusses off-shore drilling in the Arctic region and the National Hockey League. Medvedev is president of Russia's Kontinental Hockey League. (Source: Bloomberg)

Video: 11/09 Crude Rises Above $80

Mon, 09 Nov 2009 21:49:00 +0000

11/09/09 Front month crude prices rose to open the trading week on a weaker dollar and weather concerns.

Video: 11/06 Crude Dips To Close Week

Fri, 06 Nov 2009 21:51:09 +0000

11/06/09 Front month crude prices took a dive this session as a rise in the US unemployment rate paved the way for concerns over a future lack of demand for energy.

Video: 11/05 Crude Slides On Doubt Over Pace Of Economic Recovery

Thu, 05 Nov 2009 21:28:49 +0000

11/05/09 Front month crude prices fell below $80 a barrel this session on concerns over the pace of the economic recovery.

Video: Oil & Gas Earnings Gainers: WG, PDC

Thu, 05 Nov 2009 19:48:14 +0000

Willbros Group (WG), an independent contractor serving the oil and gas industry, announced two new key agreements and a profitable third quarter. The company earned 4 cents per share, down from 49 cents in the same quarter last year.

Video: Garza Says Mexico Must Change Oil Investment Regulation: Video

Thu, 05 Nov 2009 14:44:53 +0000

Nov. 5 (Bloomberg) -- Former U.S. Ambassador to Mexico Antonio Garza says that Mexico should repeal regulation that prohibits private investment in the country's state-run oil industry. Bloomberg's Cris Valerio reports from the Bloomberg Mexico Economic Forum in Mexico City. (Source: Bloomberg)

Video: 11/04 Oil Prices Rally On Weak Dollar, Stockpile Slide

Wed, 04 Nov 2009 21:51:22 +0000

11/04/09 Oil prices rallied this session on a weaker dollar and a decline in stockpiles for last week.

Video: 11/03 Oil Prices Rally

Tue, 03 Nov 2009 21:42:53 +0000

11/03/09 Oil prices rallied this session on hopes that the ongoing Fed meeting will favor higher-yielding currencies.

Video: North Dakota oil

Wed, 28 Oct 2009 17:06:00 +0000

North Dakota's oil patch has gotten a lot of attention over the last couple years... The discovery of the Bakken formation and it's potential has increased the drilling going on in western North Dakota. And that's put our state in a great spot. Donnell Preskey reports... Scattered around North Dakota's quiet countryside these wells are making some noise when comes to our nations' oil production. North Dakota is now the fourth largest oil producing state in the nation... (Ron Ness) ND is 4th right now which is a huge ackomplishment you're passing states like Louisana, Oklahoma, Wyoming on way to 4th. Now get into Alaska, Texas, California is the 3rd largest oil producing state and they're producing 3 times what ND is. Of course we've doubled our production so who knows but that would be a big leap. It's where our oil is coming from that has put the state in the number four spot... (Ness) The bakken is an incredible resource and the technology is improving every day, we're starting to see the increased oil production. 231,000 barells a day in August is a very big number - considering that's more than double what we were three years ago.... At that time North Dakota was ninth on the list of top oil producing states... (Ness) Right now we're getting 1-2% of oil out. Future is very bright because as technology improves we'll get more and more oil production. Ness says the number four ranking builds an even stronger reputation for North Dakota... (Ness) So we are seeing a lot of interest in these companies moving operations here, workers from other areas starting to look at ND. being 4th does show these companies this is a major oil producing area should we set up shop there... should we move people there.. Currently there are around 57 rigs drilling in North Dakota... A year and a half ago there were 98... While oil production has slowed down this year Ness says he expects the rig count to make a rebound in 2010. Ness says being fourth in the nation means more money and jobs for North Dakota... There are 69 oil related companies trying to fill over one hundred positions. Plus Ness says state oil tax revenues for August and September are 149% above what was projected.

Video: 11/02 Oil Prices Rally To Kick Of New Week

Mon, 02 Nov 2009 21:21:22 +0000

11/02/09 A weaker US dollar and a jump in Chinese equities sparking optimism over a rise in energy demand for the nation pushed crude prices into the green to start off the week.

Video: 11/02 The Week Ahead

Sat, 31 Oct 2009 04:00:00 +0000

11/02/09 The stories,data, and stocks that may have the greatest impact during the next trading session.

Video: 10/29 Oil Prices Rise Above $80

Thu, 29 Oct 2009 22:48:54 +0000

10/29/09 Front month crude prices posted a rebound this session after a rise in US equities led investors to believe energy demand will increase.

Video: Oppenheimer's Gheit Discusses Exxon, Shell Earnings: Video

Thu, 29 Oct 2009 22:06:11 +0000

Oct. 29 (Bloomberg) -- Fadel Gheit, director of oil and gas research at Oppenheimer & Co., talks with Bloomberg Television about the performance of Royal Dutch Shell Plc and Exxon Mobil Corp. The world’s two biggest oil companies posted their lowest third-quarter profits in six years after the recession eroded energy demand, pulling down fuel prices. (Source: Bloomberg)

Video: Weiss Says Exxon Had a `Decent' Quarter: Video

Thu, 29 Oct 2009 12:57:01 +0000

Oct. 29 (Bloomberg) -- Philip Weiss, an analyst at Argus Research, talks with Bloomberg's Erik Schatzker about Exxon Mobil Corp.'s third-quarter earnings reported today and outlook for the oil refining market. Exxon said net income fell 68 percent to $4.73 billion, or 98 cents a share. The profit drop was the largest U.S. company's fourth straight after demand slumped for fuels to run cars, factories and airplanes. (Source: Bloomberg)

Video: 10/28 Oil Declines On Strong Dollar

Wed, 28 Oct 2009 21:05:35 +0000

10/28/09 Front month crude prices slipped again this session on a rise in the US dollar and gasoline inventories for last week.

Video: Gasoline Prices Set to Rise as Refining Margins Decline: Video

Wed, 28 Oct 2009 11:46:45 +0000

Oct. 28 (Bloomberg) -- Bloomberg's Adam Johnson and Erik Schatzker report on the outlook for gasoline prices as refining margins at companies like ConocoPhillips decline. ConocoPhillips is scheduled to report third-quarter earnings today. (Source: Bloomberg)

Video: Big Oil Giant Shrinks Profits

Wed, 28 Oct 2009 09:32:06 +0000

CococoPhillips reports profits fall 75% not just compared to last year but several past years. (Bloomberg News)

Video: Blanch Says Price of Oil May Rise 25% on Market Recovery: Video

Tue, 27 Oct 2009 12:24:42 +0000

Oct. 27 (Bloomberg) -- Francisco Blanch, head of global commodities research at Bank of America-Merrill Lynch, talks with Bloomberg's Deirdre Bolton about the outlook for an increase in oil demand and prices. Blanch also discusses production capacity of the Organization of Petroleum Exporting Countries, the correlation of the global economic recovery to the oil market and investor sentiment. (Source: Bloomberg)

Video: In-Depth Look - Oil A Laggard

Tue, 27 Oct 2009 10:47:55 +0000

Analysis and discussion with Head of Global Commodities Research at Bank of America-Merrill Lynch Francisco Blanch; OPEC may increase production. (Bloomberg News)

Video: Oil Prices Sends Stocks Lower

Sat, 24 Oct 2009 01:01:02 +0000

The weekly numbers are not that bad at all and major averages are unchanged for the week after lots of ups and downs from earnings. (Taking Stocks)

Video: 10/23 Crude Falters As Dollar Strengthens

Fri, 23 Oct 2009 20:38:28 +0000

10/23/09 A rise in the greenback paved the way for front month crude prices to post a slight loss at the end of the trading session.

Video: CNOOC May Outperform Rivals

Fri, 23 Oct 2009 01:06:04 +0000

CNOOC may outperform rivals as oil prices continue to rally according to Morgan Stanley. (The Trade)

Video: 10/22 Oil Prices Retreat On Dollar Rebound

Thu, 22 Oct 2009 20:59:54 +0000

10/22/09 Front month crude prices posted a slight decline this session as the US dollar slightly steadied this session.

Video: Land office says oil revenue shrinking

Thu, 22 Oct 2009 00:01:56 +0000

a key component of the state's budget -- oil and gas revenue -- is still minute thumbnail 06:02 pm providing only a trickle of new money. the state's land office announced first quarter revenues for the current fiscal year. 90-million dollars came into the state -- that's 104-million dollars less than last year's earnings during the first quarter. the land office says rising prices for oil and natural gas will hopefully generate more business activity

Video: 10/21 Oil Prices Rise After Dollar Drops

Wed, 21 Oct 2009 21:18:24 +0000

10/21/09 Front month crude prices surged this session after the US dollar fell to trade at a 14-month low against the euro.

Video: Oil Falls From One-Year High

Wed, 21 Oct 2009 01:07:16 +0000

Report and analysis with Christian Schmollinger of Bloomberg News. (The Trade)

Video: Bespoke: Oil Cheap Relative To S&P

Wed, 21 Oct 2009 01:04:38 +0000

Oil plays such a fundamental role in the economy; The S&P needs to gain 55% to keep in line with historical data. (The Trade)

Video: Oil Rises To 2009 High

Tue, 20 Oct 2009 09:22:17 +0000

Oil tops $80 a barrel and the recent rise on oil prices is on the agenda. (Bloomberg News)

Video: 10/19 Oil Prices Rise To Another 2009 High Above $79

Mon, 19 Oct 2009 21:15:52 +0000

10/19/09 Oil prices rose again this session as a weaker US dollar paved the way for crude prices to reach a new high for 2009.

Video: U.S. Energy Strikes Oil, Gas

Fri, 16 Oct 2009 21:37:45 +0000

US Energy Corp. (USEG) had a pleasant surprise for investors Friday: the initial production rate from a key well was 2,112 barrels of oil equivalent per day.

Video: Energy Stocks: Biggest Gainers This Week

Sat, 17 Oct 2009 01:01:06 +0000

Energy stocks are the biggest gainers this week after crude oil climbs to a one-year high. (Taking Stocks)

Video: 10/12 Oil Prices Rise On Weak Dollar

Mon, 12 Oct 2009 21:13:27 +0000

10/12/09 Oil prices were on the rise to start off the week as a weak greenback paved the way for investors to continue to flock towards commodities.

Video: Exxon Reportedly Gets Stake in Ghana Field

Mon, 12 Oct 2009 19:53:52 +0000

Exxon Mobil is reportedly the winner of a stake in an oil field in offshore Ghana. According to the Wall Street Journal, privately held Dallas-based company Kosmos agreed to sell a stake in the Jubilee field for $4 billion to Exxon, making it one of the first major oil companies involved there.

Video: Oil Giants Slash Output

Mon, 12 Oct 2009 12:14:30 +0000

Oil refiners slash their production capacity. (Bloomberg News)

Video: 10/09 Oil Prices Remain Unchanged To Close Week

Fri, 09 Oct 2009 20:36:32 +0000

10/09/09 Front month crude prices remained mostly unchanged this session after the dollar rose and bond prices fell.

Video: Daily Dividend Report: MVO, OXY, GLW, WY, KBR

Thu, 08 Oct 2009 20:19:20 +0000

Yesterday, MV Oil Trust (MVO) declared its quarterly dividend of 59.5 cents per share. This amounts to an increase of twenty nine percent over the July dividend of 46.1 cents and based on the current dividend, investors can expect a yield of about thirteen percent.

Video: 10/08 Oil Prices Rose On Weak Dollar

Thu, 08 Oct 2009 20:19:01 +0000

10/08/09 A weak US dollar paved the way for oil prices to rise above $72 a barrel this session.