EIA: US heating costs expected to be lower this winter

US average home heating expenditures during the upcoming winter heating season (Oct. 1 through Mar. 31) will be lower than last winter, according to the US Energy Information Administration’s Winter Fuels Outlook. Source: News


Petrobras cuts capital budget for 2015-16

Petroleo Brasileiro SA (Petrobras) reported further cuts to its capital budget, reducing planned spending for 2015 by $3 billion to $25 billion and by $8 billion to $19 billion for 2016. The company cited low crude oil prices and unfavorable exchange rates. Source: News


Canadian Oil Sands board to review Suncor’s unsolicited takeover offer

The board of Canadian Oil Sand Ltd. (COS) reported it will review the unsolicited takeover offer made Oct. 5 by Suncor Energy Inc., Calgary. Suncor’s offer to acquire all the outstanding shares of COS is valued at $4.3 billion (Can.). Source: News


Freeport-McMoRan considers spinning off oil, gas business

Freeport-McMoRan Inc., Phoenix, is reviewing “strategic alternatives” for its oil and gas business, including its possible spinoff to shareholders, joint venture arrangements, and further spending reductions. Source: News


MARKET WATCH: NYMEX, Brent oil prices rise on lower US rig count

Light, sweet crude oil prices for November delivery rose on the New York market Oct. 5 as did Brent crude oil prices on the London market, which analysts largely attributed to cuts in US production capacity as indicated by a falling rig count. Source: News


Ghana block study: 500 million bbl in place

A block with three legacy oil fields in shallow water offshore Ghana holds 500 million bbl of oil and 282 bcf of natural gas in place, according to an independent assessment reported by Erin Energy Corp., Houston. Source: News


New Hampshire Supreme Court rules against ExxonMobil in MTBE appeal

The New Hampshire Supreme Court denied ExxonMobil Corp.’s appeal of a lower court’s $236 million award to the state in a lawsuit charging groundwater contamination from the company’s use of methyl tertiary butyl ether as a gasoline oxygenate additive in the 1980s. Source: News


Targa, Sanchez Energy form Eagle Ford gas JV

Targa Resources Partners LP and Sanchez Energy Corp. have agreed to form joint ventures that will construct a 200-MMcfd cryogenic natural gas processing plant in La Salle County, Tex., and 45 miles of high-pressure gathering pipelines that will connect Sanchez Energy’s Catarina gathering system to the plant. Source: News


Federal, state governments settle Macondo spill civil claims with BP

The US government as well as the governments of five states reached a proposed $20.8-billion settlement with BP PLC to resolve civil claims arising from the 2010 Macondo deepwater well blowout and subsequent crude oil spill into the Gulf of Mexico. It was the largest such settlement with a single entity in US history, the […]


5 Oct 2015 16:00:00 EDT – The latest stock information is now available for your stocks

XOM    Last 76.81  Change +0.93   % Change 1.23%   Volume 18,318,950   As of: 5 Oct 2015 16:00:00 EDT   View: Stock Quote |  News   CVX    Last 84.03  Change +2.48   % Change 3.04%   Volume 14,131,795   As of: 5 Oct 2015 16:00:00 EDT   View: Stock Quote |  News   COP    Last 52.98  Change +1.79   % […]