LINN Energy Sells Assets in California for $100 Million, Announces Exit from California
Texas-based oil and natural gas company LINN Energy (OTCQB:$LNGG) just announced that it has sold its ownership of the properties located in the Los Angeles Basin after signing a definitive agreement with an undisclosed buyer. …
EIA Reports Unexpected Inventory Build Strengthens Downward Trend of Oil Prices
Last week, oil prices saw some hope as the American Petroleum Institute reported a draw of 4.62 billion barrels from the U.S commercial stockpile. The number was unexpected as analysts were expecting a draw of …
OPEC Crude Oil Production Continues to Increase
According to a survey conducted by S&P Global Platts, OPEC’s crude oil output increased by 270,000 barrels per day in May over April, which allows it to stand at 32.12 million barrels per day. This …
The Reason Behind the Qatar Crisis is Not Terrorism
According to official narratives, the reason why countries like Egypt, the United Arab Emirates (UAE), and Bahrain followed Saudi Arabia in cutting off diplomatic and economic ties with Qatar was because Qatar was funding terrorists. …
Schlumberger Says This Is Why Oil Prices Will Rebound
Currently, 30% of all oil exports in the market come from the Middle East and Gulf States. However, with recent tension in these regions, bull investors are surprised to see that the price per barrel …
Crude Oil Loadings Affected as Saudi Arabia, UAE, and Bahrain Refuse to Dock Qatar Vessels
Just recently, Saudi Arabia, Bahrain, the UAE, Egypt, Yemen, and Libya had accused Qatar of supporting terrorism and destabilizing the region, leading the 5 Arab nations to sever diplomatic ties with the small country.
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Is it Still Possible to Purchase Oil for $75?
According to Societe Generale (EPA:$GLE) and RBC Capital Markets (TSE:$RY), the rebalancing of the oil market is an ongoing process, despite it is happening at a slower than expected pace.
In November, OPEC …
BP Enters Deal with Rosneft, Prioritizing Natural Gas Production
On Friday, June 2nd, London-based world-renowned oil company BP (NYSE:$BP) and Russian oil giant Rosneft (LON:$ROSN) signed a Memorandum of Understanding (MoU) in St. Petersburg. The MoU served as a contract for Russia to bring …
Oil prices decline after four Middle Eastern countries severe ties with Qatar
If you are interested in energy investing, it is crucial that you brush up on what has been happening in the Middle East as of late. On Monday, Saudi Arabia, Bahrain, the United Arab Emirates …
ExxonMobil Asked to Provide Climate Change Reports by Shareholders
The majority of ExxonMobil’s (NYSE:$XOM) shareholders have agreed to have ExxonMobil produce a report regarding how its oil and gas reserves have been impacted by technological advances and/or climate change policies. The decision was made …