Petroleum
In a bid to boost its global reputation, Russia's ambassador to Canada, Alexander Belonogov, has promised to address the grievances of Western companies working in the country's oil industry. Belonogov acknowledged that Russia is perceived as a high-risk destination for business, but stressed that the country
Petroleum industry
Prices for West Texas Intermediate (WTI) and other crude oils rose sharply on June 8, 1994, as trading indicated a significant strength in the value of crude oil compared to gasoline, further cutting refining margins. In this environment, the squeeze on refining margins intensified as domestic crude oils rose in
Petroleum industry
Market forces continue to sway crude oil prices as the oversupply from the oil cargo market tempers the rise. However, strong demand for gasoline during the summer season has driven up wholesale prices. West Texas Intermediate futures for July delivery plunged 11 cents to $18.12 on June 3, 1994,
Petroleum industry
Gasoline prices picked up slightly on Wednesday as crude oil prices declined, despite lower-than-expected gains due to stock and refinery run data. Meanwhile, natural gas prices continued to drop in both futures and spot markets. Unleaded regular gasoline futures for June delivery to New York Harbor rose 0.09* to
Petroleum industry
Russian officials have informed their U.S. counterparts that two forthcoming decrees will significantly reduce the country's petroleum export tariff and excise tax, a move that could lower the tax burden for foreign companies exporting Russian oil and natural gas. According to Deputy Energy Secretary William H. White,
Gas industry
A surge in West Texas Intermediate (WTI) crude oil futures for June delivery has left traders questioning whether the U.S. benchmark is overvalued in relation to North Sea oil, domestic gasoline, and forward WTI contracts. The June WTI futures contract rose 46 cents to $18.45 per barrel on
Gas industry
Crude oil prices dropped dramatically on Tuesday as refiners on both sides of the Atlantic cut back on production due to low margins on gasoline. The decline in prices was led by West Texas Intermediate (WTI) crude oil futures, which plummeted 47 cents to $17.59 cents/bbl on the
Petroleum industry
Representatives from various Canadian energy and mining companies gathered for a series of meetings in Calgary and Toronto, as listed in a publicly available document dated [undisclosed]. The meetings, which took place between April 12 and 15, were attended by prominent companies such as Cogas Energy Ltd., Canadian Occidental Petroleum,
Petroleum industry
Low crude oil prices battered major US oil companies in the first quarter, driving earnings from exploration and production (E&P) operations down 23% from last year's level. Only three of 18 companies in The Oil Daily's survey of upstream operations emerged unscathed from a
Petroleum industry
Thursday's market saw a significant surge in oil prices, led by a bullish report from the International Energy Agency (IEA) and news of escalating conflict in Yemen. West Texas Intermediate (WTI) crude oil futures for June delivery recorded a 43-cent gain to close at $17.29 per barrel,
Petroleum industry
The oil futures markets witnessed an unexpected and significant upward swing in late trading on Friday, defying the downward trend that had been observed in recent days. According to market reports, the West Texas Intermediate (WTI) crude oil futures for June delivery rose by 33 cents to $16.90/bbl
Petroleum
As the global oil market grappled with plummeting crude prices, many independent producers showed surprising resilience, thanks largely to their strategic acquisitions of gas-producing properties and increasing gas production. Notably, Anadarko Petroleum Corp. and Louisiana Land & Exploration Co. (LL&E) reported impressive first-quarter earnings, while Maxus Energy Corp.
