Russia Cuts Oil Output, Per Agreement with OPEC

Russia cut its oil production in early January by around 100,000 barrels per day (bpd) from December, after a signed deal with Organization of the Petroleum Exporting Countries (OPEC). The production cut is a third of what Russia has pledged. In December, non-OPEC producers agreed to ax production by 600,000 with half of the contribution […]

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Non-U.S. Shales Prove Difficult to Crack

Wall Street Journal By JUSTIN SCHECK and SELINA WILLIAMS After spending more than five years and billions of dollars trying to re-create the U.S. shale boom overseas, some of the world’s biggest oil companies are starting to give up amid a world-wide collapse in crude prices. Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell […]

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CEO Says Exxon Mobil Can Be “Successful” With $40 Oil

Fuel Fix By Joshua Cain Exxon Mobil CEO Rex Tillerson said in an interview with CNBC Wednesday that the oil and gas giant could remain “successful” even if oil prices continued to plummet. Tillerson said that because many of the company’s biggest projects take years to complete, Exxon Mobil tests its investment across a range […]

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U.S. shale boom not exportable, says former Chesapeake CEO

By James Osborne Aubrey McClendon, former CEO of natural gas giant Chesapeake Energy, argued in a speech Wednesday that the U.S. shale drilling boom is unlikely to be replicated in other countries. McClendon, who now has a new shale venture, American Energy Partners, said the combination of entrepreneurial spirit, expansive infrastructure and the private ownership […]

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Southwestern Celebrates Marcellus Growth

Independent Weekender By Robert L. Baker, Times-Shamrock Writer The top guns from Southwestern Energy’s Houston, Texas, office were in Wyoming County Tuesday afternoon (Sept. 30) to celebrate its 5-year investment in the Marcellus Shale. SWN senior vice president Jack Bergeron, who oversees the company’s Marcellus operations in its Appalachia Division, said of the activity at […]

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