Crude Oil/Natural Gas Upstream Operations

LONDON—U. K. billionaire Jim Ratcliffe has built one of the world’s most unconventional conglomerates, a sprawling collection of assets that includes a global chemicals business and baubles like a centuries-old London pub and a luxury British fashion brand.Now the 70-year-old tycoon, who was knighted in his home country but isn’t as well known outside of Europe, is making a deeper push into the U.S. market. Mr. Ratcliffe, majority owner of the privately held London-based chemicals giant…

Homeowners and businesses across the country have seen their gas bills go wild—and the turbulence isn’t going to calm down anytime soon.Last year was the most volatile on record for natural gas, boosting the cost to heat homes, generate electricity and manufacture economic building blocks such as fertilizer and steel. Prices in 2022 whipsawed from unseasonable lows to shale-era highs and back again. Benchmark gas futures, which determine what millions of Americans pay for heat and electricity, swung by at least 7% on 44…

Saudi Arabia’s national oil company reported record annual profit of $161 billion for 2022, the largest ever by an energy firm, continuing a dramatic turnaround for the global oil industry after the Ukraine war lifted crude prices and upended commodity flows.Saudi Arabian Oil Co., known as Aramco, said its yearly profit swelled by 46% in 2022, a period when Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries, continued to rebuff U.S. requests to pump more oil to help tame surging…

HOUSTON—The boom in oil production that over the last decade made the U.S. the world’s largest producer is waning, suggesting the era of shale growth is nearing its peak.Frackers are hitting fewer big gushers in the Permian Basin, America’s busiest oil patch, the latest sign they have drained their catalog of good wells. Shale companies’ biggest and best wells are producing less oil, according to data reviewed by The Wall Street Journal. The Journal reported last year companies would exhaust their best U.S. inventory in a…

For the first time, public companies are revealing how much compensation their CEOs are actually poised to get, by tabulating gains and losses in the stock awards that make up much of their pay packages.For Olivier Le Peuch, chief executive of oil-field-services company Schlumberger Ltd. SLB 1.25% , the new disclosure shows the value of his pay jumped nearly $24 million during the course of last year, driven by a sharp rise in the company’s…

When the U.S. has entered recession in the past, weakness has often started in one sector and then spread like brushfire, pulling down a widening array of industries and the people who work in them. Downturns in 2001 and 2007-09 were apt examples. The deflated internet and telecommunications bubble in the early 2000s and then the mortgage and housing crunch of the mid-2000s emanated outward, damaging financial companies, consumer spending and business investment. That ultimately led to economywide recessions and…

Following Russia’s invasion of Ukraine, Europe is importing U.S. natural gas like never before to heat homes, generate electricity and power factories. Following Russia’s invasion of Ukraine, Europe is importing U.S. natural gas like never before to heat homes, generate electricity and power factories. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is…

A year of war in Ukraine has highlighted the return of oil as a source of U.S. financial influence and geopolitical power. As the West has shunned most Russian energy, unleashing a pressure campaign against the Kremlin’s petroleum revenues, record U.S. crude exports have helped fill the gap in Europe with the oil needed to produce gasoline, diesel and jet fuel.…

Frackers are set to plow more cash into oil fields this year compared with last, but it isn’t expected to unleash the flood of crude that past spending binges in the shale patch have.  EOG Resources Inc. EOG -4.41% said it would spend about $1.4 billion more than last year, but that its oil production would rise by only about 3% in 2023. Pioneer Natural Resources Co. PXD -4.14% said it would augment its budget by nearly…

Chesapeake Energy Corp. is expected to announce the sale of oil assets to a division of U.K. chemical maker Ineos Group AG for $1.4 billion, according to people familiar with the matter.  The deal could be announced as soon as Tuesday, the people said, and involves oil assets in the northern part of the Eagle Ford shale basin in south Texas. The sale would mark the first foray of Ineos, one of the world’s largest chemical producers, into U.S. oil and gas production, according to the people.…