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After Thursday’s 724-point drubbing, the Dow Jones Industrial Average is now down 4.3% this month. The S&P 500 Index is up slightly so far in March. (170-0)
2017 was the highest producing year for oil in the GoM and included the record month in March. Gas, which has tended to come from shallow water wells, had accelerated decline. The production would have been higher but for some disruptions from Hurricanes, in particular Nate, though that had the least impact onshore, and some unplanned outages in November and December due to equipment failures. The failure to Delta House subsea manifold affected Rigel, Otis and Son of Bluto 2 fields, and the first two still appear to be off-line while Son of Bluto 2 resumed production in December (LLOG, the operator, I think calls the Rigel field Neidermeyer, which is much better for the Animal House theme). (87-0)
Following the release of EIA crude inventory numbers, renewed geopolitical tensions in the Middle East and Fed announcement on interest rates, oil prices jumped above the psychologically important $65 per barrel level on Wednesday. West Texas Intermediate crude for May delivery gained $1.63, or 2.6%, to settle at $65.17 a barrel in electronic trading yesterday - the highest since early February. (30-0)
SAN FRANCISCO, March 21 (Reuters) - A Chevron attorney said in court on Wednesday that the company supports scientific conclusions that humans are causing climate change, a response to a lawsuit that accuses five major energy producers of misleading the public for years about their role in global warming. (63-0)
130 new crude and natural gas projects will start operations in Asia between 2018 and 2025. By 2025, the projects will contribute around 518 thousand barrels per day (mbd) to global oil production and close to 11.5 billion cubic feet per day (bcfd) to global gas production, according to GlobalData, a leading data and analytics company.
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March 21 (Reuters) - Oil and gas drillers bid on only a tiny fraction of Gulf of Mexico acreage offered on Wednesday in the largest lease sale in American history, a setback to the Trump administration's efforts to rapidly pump up investment in the region. (57-0)
March 21, 2018: Markets opened mixed Wednesday but all three major indexes climbed out of a shallow hole to post decent gains throughout most of the day. The Fed FOMC did, in fact, raise its policy rate by a quarter-point, as expected, and may have left the door open for four, not three, rate hikes this year. (20-0)
Are you ready to find the holy grail of dividend investing? The ideal dividends are stocks in strong companies which pay out a high dividend yield. Savvy investors can reinvest payments and, over time, create a veritable treasure trove of double-digit annual gains. (112-0)
The U.S. Department of Interior’s Bureau of Ocean Energy Management (BOEM) had more than 77 million acres — the most ever in a single offering — of U.S. Gulf of Mexico offshore leases for sale Wednesday. That’s 14,431 blocks of which just 148 were bought. (63-0)
Founded in 1909 and headquartered in London, UK, British Petroleum (NYSE:BP) is a private integrated oil and gas company that has operations in more than 80 countries. Being an integral part of the 'Big Oil' group, British Petroleum provides its customers with lubricants, fuel and petrochemical products. BP's stock was trading at $39.04 at the time of writing this article, with a change of 0.75 % over its last trading day. (56-0)
Chevron Corp. (CVX) has upside potential in a rising oil environment and offers investors a high-quality, sustainable dividend. The energy company's shares slumped in February as part of a broader market sell-off, and shares have yet to recover from the drop. I think the correction is a good opportunity to gobble up shares for a DGI portfolio. Chevron Corp. has an attractive risk-reward ratio and will continue to raise its dividend long-term.
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning, showing that U.S. commercial crude inventories decreased by 2.6 million barrels last week, maintaining a total U.S. commercial crude inventory of 428.3 million barrels. The commercial crude inventory remains in the lower half of the average range for this time of year. (6-0)
(Reuters) - The U.S. Interior Department will hold the largest lease sale in American history in the offshore Gulf of Mexico on Wednesday, in a major test of the oil industry’s appetite for federal acreage being offered by the Trump administration. (21-0)
SAN FRANCISCO (Reuters) - Five of the world’s biggest energy producers will be questioned by a federal judge on Wednesday about climate change science, part of a lawsuit that accuses the companies of misleading the public for years about their role in global warming. (63-0)