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Delphi Energy Corp. Announces Extension of Credit Facility

5 days ago DieselGasoil Comments Off on Delphi Energy Corp. Announces Extension of Credit Facility
CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) announces that the annual borrowing base redetermination of its senior credit facility has been finalized. The amended credit facility has a borrowing base of $100.0 million reducing to $90.0 million upon the earlier of September 30, 2019 and the completion Read More

U.S. underlying inflation stirring; labor market tightening

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WASHINGTON (Reuters) – U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June amid solid gains in a range of goods and services, but that did not change expectations the Federal Reserve would cut interest rates this month. FILE PHOTO: People shop at an H&M store during the grand opening of Read More

OPEC sees new oil surplus in 2020 as U.S. shale surges again

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By Grant Smith on 7/11/2019 LONDON (Bloomberg) — A week after OPEC agreed to keep oil production restrained until early next year, the group’s first forecasts for 2020 showed it faces an even longer and tougher challenge. The Organization of Petroleum Exporting Countries, which pumps 40% of the world’s oil, estimated that it’s producing about Read More

Cenovus Energy reaches production milestone in northern Alberta

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7/11/2019 CALGARY — Cenovus Energy Inc. has announced that on July 10, 2019, the company reached 1 Bbbl of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. Cenovus is the first company to produce 1 Bbbl of oil using steam-assisted gravity drainage (SAGD) technology. Foster Creek began producing Read More

Pemex under pressure with AMLO ruling Mexico’s economy

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By Amy Stillman on 7/11/2019 MEXICO CITY (Bloomberg) –The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails. Carlos Urzua resigned Tuesday, citing conflicts of interest and policy disagreements within Andres Manuel Lopez Obrador’s administration. That sent the peso plunging as much as 2.3%, and stocks sliding. Yields on Read More

Cenovus achieves landmark business milestone

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CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that on July 10, 2019 the company reached one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. Cenovus is the first company to produce one billion barrels of Read More

Powell testimony, Fed meeting highlight case for ‘insurance’

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WASHINGTON (Reuters) – A confidence shock driven partly by the U.S. trade war is at the center of an increasingly persuasive argument for Federal Reserve policymakers seriously considering cutting rates for the first time in a decade. Federal Reserve Chairman Jerome Powell on Wednesday set the stage for the rate cut this month, as records Read More

European airline chiefs push back against flight shaming, carbon taxes

6 days ago DieselGasoil Comments Off on European airline chiefs push back against flight shaming, carbon taxes
BRUSSELS (Reuters) – The heads of some of Europe’s largest airlines hit back on Wednesday against efforts to discourage Europeans from flying, arguing the industry was making huge strides in cutting its carbon footprint and that there was no shame in air travel. FILE PHOTO: A part of the north runaway is reflected in a Read More

Instant view: Powell – Fed stands ready to act “as appropriate” to sustain expansion

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(Reuters) – Concerns about trade policy and a weak global economy “continue to weigh on the U.S. economic outlook” and the Federal Reserve stands ready to “act as appropriate” to sustain a decade-long expansion, Fed Chairman Jerome Powell said on Wednesday in remarks that could bolster expectations of an interest rate cut later this month. Read More

Feature: Saudi Arabia struggles to push GDP growth amid output cuts, weak oil prices

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Dubai — Saudi Arabia’s balancing act of extending the OPEC/non-OPEC output cuts into the first quarter of 2020 and maintaining economic growth is being tested by weaker oil prices, with concerns of a potential economic contraction. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The world’s biggest oil exporter Read More