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[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. natural gas tumbled about 18% in the first week of January, the biggest slide on record to start a year, according to Refinitiv Eikon data. The 12% drop in distillate futures , was the biggest dive to start a year since 1991. In natural gas, U.S. futures fell further on Friday, dropping 5% to $3.52 per million British thermal units during the session, its lowest since July 2021. This week, it forecast U.S. natural gas prices would drop to $4.00-$4.20 per million British thermal units in the second quarter through third quarter.

☆ Fangtooth oil discovery may justify Guyana's 7th platform, Hess CEO
▼ + stars: | 2023-01-05 | by ( Sabrina Valle | ) www.reuters.com time to read: +1 min

HOUSTON, Jan 5 (Reuters) - The Fangtooth oil discovery in Guyana's waters is big enough to potentially require a platform for itself, which would be the seventh in the country, Hess Corp (HES.N) Chief Executive Office John Hess said in a conference on Thursday. The six units will lead to an estimated output of 1.2 million barrels of oil and gas per day by 2027, Hess said. "Fangtooth itself could potentially be the seventh boat," Hess said at a Goldman Sachs energy conference. Hess' operations in Guyana and the Bakken basin in the United States, will take up 80% of the $3.7 billion the company plans to invest this year, the CEO said. The United States can lift total oil production to 13 million to 13.5 million bpd before output plateaus, Hess said.

☆ U.S. embassy in Cuba resumes full immigrant visa processing for first time since 2017
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +3 min

[1/4] People wait in line to enter the U.S. embassy in Havana, Cuba, January 4, 2023. REUTERS/Alexandre MeneghiniHAVANA, Jan 4 (Reuters) - The U.S. embassy in Havana resumed full immigrant visa processing and consular services for the first time since 2017 on Wednesday in a bid to stem the record-breaking flow of illegal migrants from Cuba north to the United States. Cubans were instead required to travel to Guyana for visa processing, a costly trip well out of reach for most on the island. The U.S. embassy in Havana began limited visa processing last year and in September announced the 2023 full reopening, to "ensure safe, legal, and orderly migration of Cubans," it said. Cuba and the United States have also resumed once-regular talks on migration in a bid to tamp down the flow.

☆ U.S. Embassy in Cuba reopening visa and consular services
▼ + stars: | 2023-01-04 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

HAVANA — The United States Embassy in Cuba is reopening visa and consular services Wednesday, the first time it has done so since a spate of unexplained health incidents among diplomatic staff in 2017 slashed the American presence in Havana. Cubans are now the second-largest nationality after Mexicans appearing on the border, U.S. Customs and Border Protection data shows. Visa and consular services were closed on the island in 2017 after embassy staff were affflicted in a series of health incidents, alleged sonic attacks that remain largely unexplained. While relations have always been tense between Cuba and the U.S., they were heightened following the embassy closure and the Trump administration’s tightening of sanctions on Cuba. Cuban officials have repeatedly expressed optimism about talks with the U.S. and steps to reopen visa services.

☆ Exxon, Chevron Focus on Oil Projects in the Americas
▼ + stars: | 2023-01-03 | by ( Collin Eaton | ) www.wsj.com time to read: 1 min

The globe is shrinking for Exxon Mobil Corp. and Chevron Corp. as the two largest U.S. oil companies pull back on big international oil projects and concentrate on a handful of more lucrative assets closer to home. The two fossil-fuel giants plan to spend most of their annual budgets in the Americas this year, with Chevron saying it will pour 70% of the capital allocated for production into oil fields in the U.S., Argentina and Canada, and Exxon saying it will spend a similar portion of its budget in the Permian Basin of New Mexico and West Texas, Guyana, Brazil and liquefied natural-gas projects.

☆ Oil expected to stay volatile in 2023, but the price could depend on China reopening
▼ + stars: | 2022-12-28 | by ( Patti Domm | In | ) www.cnbc.com time to read: +10 min

Keeping a lid on prices Oil futures fell Wednesday amid signs that China is moving ahead to normalize its economy, with the removal of border and travel restrictions. Russia's invasion of Ukraine was the biggest shock to the oil market in the past year, sending prices spiking in the first quarter. Under some scenarios, a strong reopening in China could drive oil close to about $120 if supply is short. The latest efforts to penalize Russia were Europe's ban on seaborne oil, as of Dec. 5, as well as a G-7 price cap on the price Russia can receive for its oil. Morse said more oil supply is coming on line from the U.S. and other Western Hemisphere producers in 2023.

☆ Exxon plans to raise spending in 2023, boost share buybacks
▼ + stars: | 2022-12-08 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

Dec 8 (Reuters) - Exxon Mobil Corp (XOM.N) on Thursday said it will lift capital spending next year by about 10%, to between $23 billion and $25 billion, and boost share buybacks. Exxon is distributing more cash to shareholders than it is investing in new production - $30 billion between share buybacks and dividends this year. Exxon aims to raise oil and gas production to a record 4.2 million barrels of oil equivalent per day (boepd) by end-2027. Most of the 500,000 boepd increase is expected to come from Guyana, the United States and Brazil. This year's target is down from the 3.8 million boepd Exxon set a year ago.

☆ Exxon plans to raise spending in 2023 closer to $25 billion
▼ + stars: | 2022-12-08 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

The largest U.S. oil producer also said it will raise to $17 billion its spending in lower carbon projects through 2027, up from $15 billion. Exxon has one of the most ambitious plans in the industry to increase crude production over the next five years. Exxon stuck to its target to raise oil and gas production to a record 4.2 million barrels of oil equivalent per day (boepd) by end-2027. But short-term production was reduced and will stay flat in this year and 2023 at 3.7 million boepd - assuming a $60 per barrel Brent price. By year-end 2022, Exxon expects to distribute about $30 billion to shareholders, including $15 billion in dividends and $15 billion in buybacks.

☆ A market mystery: Energy stocks are still riding high even as crude oil tumbles
▼ + stars: | 2022-11-30 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Traders are watching oil vs. oil stocks and thinking something has to give. Energy bulls insist supplies will remain tight and oil prices will likely be higher in 2023. Variable dividends Lower oil prices are not just a threat to profits: many oil companies have instituted variable dividends, where the variable portion of the payouts are dependent on cash flow. Companies with a variable dividend include Pioneer (PXD), ConocoPhillips (COP), Devon Energy (DVN), Diamondback Energy (FANG), and Coterra Energy (CTRA). The downside: No one is sure what the total payout (the fixed dividend plus the "variable" dividend) will be from quarter to quarter.

☆ Exclusive: Exxon to exit Equatorial Guinea amid wider Africa crude phaseout
▼ + stars: | 2022-11-28 | by ( Sabrina Valle | ) www.reuters.com time to read: +5 min

The company last year pumped about 45,000 bpd in Equatorial Guinea, out of the country's total production of 93,000 bpd. For Middle East and African oil producers, cash has dwindled to 30% of global flows in the last two years, from 50% between 2010 and 2020. Much of the increase comes from the United States, Canada, Guyana and Brazil, some of the places where Exxon has increased spending on oil output. NAMIBIA AND NATURAL GASWhile crude oil production wanes in West Africa, the continent's liquefied natural gas (LNG) future is on the rise and fossil fuel output could grow elsewhere in Africa. Rising demand globally could result in a 30% rise in gas production in Africa by the end of the decade, Deloitte said.

☆ APA ends drilling at Awari oil well off Suriname coast
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - U.S. oil producer APA Corp (APA.O) has wound up drilling operations at the Awari well in Suriname's Block 58 as it was "deemed noncommercial", the company said on Monday. APA did not provide details on the Awari project. The company in August had abandoned the Dikkop well in Block 58 after striking water-bearing sandstones there. French energy major TotalEnergies SE (TTEF.PA) is the operator of Block 58 with a 50% working interest, while APA holds the other half. Shares of APA were down 4% at $44.70 amid broader weakness in the U.S. energy sector.

☆ BP wins contract to market Guyana's share of oil production
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lee SmithNov 25 (Reuters) - BP Plc (BP.L) will market Guyana's share of crude oil produced over the next year from two offshore production platforms, the South American country's Ministry of Natural Resources said. The London-based oil company agreed to market the state's share produced from the Liza Destiny and Liza Unity platforms at no charge per barrel, according to a ministry statement on Thursday. Through mid-year, Guyana's share of oil production from the consortium composed of Exxon Mobil (XOM.N), CNOOC Ltd (0883.HK) and Hess Corp (HES.N) was worth $307 million. The group markets two crudes: a medium to light sweet oil called Liza, and an even lighter grade called Unity Gold. BP will market crude to refiners, provide benchmark and performance comparisons, and help the government understand the behavior and yields of the Liza blend, the ministry said.

☆ I've refereed World Cup soccer games. You have to avoid social media or it will ruin your life.
▼ + stars: | 2022-11-19 | by ( Andy Mcgrath | ) www.businessinsider.com time to read: +6 min

Mark Geiger is a former math teacher turned soccer referee who's presided over World Cup games. Doing under-eight matches back then, I never expected I'd be going to a World Cup. Since 2018, I've been the director of senior match referees, basically overseeing the MLS referees, assistant referees and video match officials. Before my very first World Cup match in Brazil in 2014, I asked myself: am I ready for this? There's always that little bit of nervousness going into each World Cup match because of the stage and the millions of people watching.

LONDON, Nov 18 (Reuters) - European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialise. The front-month Brent crude futures spread narrowed sharply this week, reflecting better supply in the physical oil market as fears over the EU embargo on Russian crude begin to subside. Reuters Graphics"There's too much oil around," one European crude trader said. A G7 price cap on Russian crude also comes into effect on Dec. 5. ALTERNATIVES SOURCESTraders said refiners have adjusted to living without Russian crude, which had been a mainstay of Europe's refining system.

Companies Hess Corp FollowNov 17 (Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) is "back in the driver's seat" as the top swing producer amid slowing U.S. shale growth, Hess Corp (HES.N) Chief Executive Officer John Hess said on Thursday at an investor conference in Miami, Florida. Hess anticipates U.S. oil production will hit around 13 million barrels per day in the next few years and then plateau. U.S. production growth has been slower than anticipated at the beginning of this year due to investor pressure to focus on returns over growth, along with inflation and inventory depletion. The U.S. Energy Information Administration last week cut its forecast for 2023 shale growth by 21%. Now, really OPEC is back in the driver's seat where they are the swing producer," Hess said, cautioning though that OPEC lacked spare capacity to easily boost its production.

☆ Exxon or Chevron? Goldman Sachs gives its verdict on which energy stock is the better buy
▼ + stars: | 2022-11-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

When it comes to major oil stocks, ExxonMobil and Chevron are two names that may come to mind. Three factors The following are the factors that set one stock above the other, according to Goldman. The winner Goldman says that Exxon warrants the premium, giving it a "buy" rating and price target of $121 — or over 6% upside. According to Factset, 54% of analysts covering the stock gave it a buy rating, with an average upside of 2.4%. Half of analysts covering the stock gave it a buy rating, with an average upside of 1.1%, according to FactSet.

☆ Asian Americans have some of the highest levels of support for abortion rights — and it's driving them to vote
▼ + stars: | 2022-11-05 | by ( Sakshi Venkatraman | Sakshi Venkatraman Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +9 min

With studies finding that Asian American and Pacific Islanders show some of the highest levels of support for abortion rights, community leaders are expecting this issue to drive Asian Americans to the polls — many for the first time ever. “AAPIs view abortion not as the singular act of abortion, but as health care,” said Varun Nikore, executive director of the nonprofit AAPI Victory Alliance. While some researchers point to flaws in the polling (most notably that Pew only surveyed English speakers), they say there’s no doubt that Asians show the highest level of support when it comes to abortion rights. “That tells me that abortion rights and reproductive rights are likely what’s driving that prioritization,” said Karthick Ramakrishnan, founder and director of demographic data and policy research at AAPI Data. A younger crop of Asian voters newly engaged by the Dobbs ruling are initiating these conversations with their elders, too.

☆ Booming Guyana sets offshore oil auction under revamped fiscal terms
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

Officials this week approved an oil lease auction with timing details to be disclosed by the Ministry of Natural Resources. The auction will include three deepwater and 11 shallow-water exploration blocks, Vice President Bharrat Jagdeo said in an address. A new profit-sharing agreement that will cover future oil production agreements is under development and will be finalized before the auction ends, he said. Contract terms "shift significantly" the revenue split, with Guyana receiving a "greater share of the proceeds" compared to the existing Production Sharing Agreement terms, Jagdeo said. Each bid must include a development plan that will be considered along with the financial bid, Jagdeo said.

☆ Exxon's record-smashing Q3 profit nearly matches Apple's
▼ + stars: | 2022-10-28 | by ( Sabrina Valle | ) www.reuters.com time to read: +4 min

Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street forecasts as sky-rocketing natural gas and high oil prices put its earnings within reach of Apple's $20.7 billion net for the same period. Oil company profits have soared this year as rising demand and an under-supplied energy market collided with Western sanctions against Russia over its invasion of Ukraine. U.S. exports of gas and oil to Europe have jumped and promise to set all-time profit records for the industry. Investors this week pushed up Exxon shares to a record intraday high of $109.58 as oil prices traded above $96 per barrel. In the third quarter, U.S. natural gas prices averaged $7.95 per million British thermal units (mmBtu), up 10% from the second quarter.

☆ What Cramer is watching Friday — Amazon drop overdone, Apple's outlier quarter, Big Oil profits
▼ + stars: | 2022-10-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Shares of the Club holding down 13% in premarket. Apple's quarter was better than expected , an outlier in an otherwise brutal week for Big Tech earnings. Club holding AbbVie (ABBV) solid number, more of the same. Club holding Pioneer Natural Resources (PXD) slightly misses on EPS of $7.48. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Exxon strikes oil again in Guyana with two new discoveries
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Exxon Mobil Corp (XOM.N) has made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, the oil major said on Wednesday, potentially adding more barrels to one of the most closely watched new oil discoveries. Exxon did not disclose how much crude oil or gas it estimates the new discoveries to contain. Guyana amounts for one third of the crude discovered in the world since Exxon first hit oil in the country in 2015, according to Rystad consultancy firm. The about 11 billion barrels of recoverable oil discovered prior to Wednesday's finds, should make the country a global oil power in the coming years, Rystad says. The companies expect total production from Guyana to cross a million barrels per day by the end of this decade.

☆ Exxon strikes oil again in Guyana, raises output target
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Exxon Mobil Corp (XOM.N) has made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, the oil major said on Wednesday, adding more barrels to one of the most closely watched new oil discoveries. Exxon did not disclose how much crude oil or gas it estimates the new discoveries to contain, but it also hiked a previous output forecast for the third quarter from older discoveries in the region. Guyana amounts for one third of the crude discovered in the world since Exxon first hit oil in the country in 2015, according to Rystad consultancy firm. The about 11 billion barrels of recoverable oil discovered prior to Wednesday's finds, should make the country a global oil power in the coming years, Rystad says. The companies expect total production from Guyana to cross a million barrels per day by the end of this decade.

☆ Stocks making the biggest moves midday: Harley-Davidson, Visa, Microsoft, Biogen and more
▼ + stars: | 2022-10-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Harley-Davidson — Shares of the motorcycle company climbed 13% after Harley reported quarterly earnings beat top- and bottom line estimates. The per share loss was 0.99 euros per share on 3.04 billion of euros in revenue. Analysts surveyed by Refinitiv were expecting a loss of 0.85 euros per share and 3.02 billion of euros in revenue. Visa reported earnings of $1.93 per share on revenue of $7.79 billion. CMG reported revenue of $2.22 billion versus the $2.23 billion expected by analysts surveyed by Refinitiv.

☆ Here are Wednesday's biggest analyst calls: Tesla, Netflix, Apple, Exxon, Robinhood, Alphabet & more
▼ + stars: | 2022-10-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's staying bullish heading into earnings next week. Evercore ISI downgrade Petco to in line from outperform Evercore said in its downgrade of the pet store that it sees too many headwinds. " Evercore ISI downgrades Lowe's to in line from outperform Evercore said in its downgrade of Lowe's that it sees slowing home improvement demand. Evercore ISI downgrades Boston Beer to in line from outperform Evercore said in its downgrade of Boston Beer that estimates are too high. Bank of America reiterates Alphabet as buy Bank of America s aid Alphabet is a "defensive stock with valuation support."

☆ U.S. oil service firms' results to show impact of demand, inflation
▼ + stars: | 2022-10-18 | by ( Liz Hampton | ) www.reuters.com time to read: +3 min

Oct 18 (Reuters) - Oilfield service firms are poised to deliver the strongest third quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts. Oil prices remain near their highest levels in about eight years, spurring more producer demand for services. The international rig count rose to 879 last month, up from 787 a year ago, according to Baker Hughes. The Philadelphia Oil Service Index (.OSX) this summer hit its highest level since March 2020, trading around $90, but has dropped to about $68.50 on fears of a recession. The oilfield sector has faced capital constraints, "supply chain issues, workforce shortages and inflation impacts," said Leslie Beyer, CEO of the Energy Workforce & Technology Council, which represents oilfield service companies.

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