Baker Hughes Buys Into Abu Dhabi While GE Sells Off Energy Portfolio
While GE and GE Capital are busy selling off their energy portfolio, Baker Hughes, the GE-controlled oilfield services company, is investing in a Middle Eastern drilling firm.
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Global Renewable Power Generation to Rise by 1 Trillion Watts
The International Energy Agency on Monday released its annual report on renewable energy, along with a forecast of growth in renewable capacity through 2023.
US Oil Rig Count Falls by 2 While Offshore Drillers Add 4 New Rigs
The U.S. land-based oil rig count fell by two this week. The number of rigs drilling for natural gas remained flat, and the number of offshore rigs put to work rose by four.
IEA Report: Just One Word — Petrochemicals
Demand for petrochemicals is forecast to grow substantially over the next several decades, according to a new report from the International Energy Agency.
Natural Gas Price Slumps Following Big Storage Addition
The U.S. natural gas stockpile got a bigger-than-expected boost last week. The large increase took more off the already falling price for natural gas futures.
Crude Oil Price Drops, Bounces Following Inventory Report
The U.S. Energy Information Administration reported Wednesday morning that U.S. commercial crude oil inventories rose by 8 million barrels last week, the highest weekly rise of the year so far.
Saudi Arabia, Russia Agreed Last Month to Raise Output: Reuters
Saudi Arabia and Russia had already agreed to increase oil production ahead of the OPEC ministers meeting on September 23 in Algiers. The increase was never announced, but it appears to be happening anyway.
Goldman Sachs Makes 2 Big Changes on Its Oil Bets
Goldman Sachs has made a key rotation in its oil and gas sector coverage, downgrading ConcoPhillips and adding Chevron to the prized Conviction Buy list.
Gas Prices Hit $3 in 9 States
Brent crude prices have reached over $85 a barrel. Oil prices are the biggest contributor to the cost of gasoline. Gas prices, average for a gallon of regular, have topped $3 in nine states,…
Energy Sector Remains Robust Though Pipeline Constraints Threaten: Dallas Fed
In its quarterly survey of energy firms in the Eleventh Federal Reserve district, Dallas Fed officials report that expansion remains strong but there are concerns about when pipeline constraints will ease.
Baird Says Large-Cap Energy Stocks Are Cheap: 4 to Buy Now
These four top oil exploration and production companies are all trading at a discount to the NYMEX net asset value and offer investors some very exciting potential upside.
US Oil Rig Count Falls by 3, November Delivery Price Marches Higher
The number of land-based rigs drilling for oil this week dropped by three according to Baker Hughes. Natural gas producers added three rigs, and one rig classified as "miscellaneous" was also added to the…
Natural Gas Price Jumps After Small Storage Addition
The U.S. natural gas stockpile added about a third less to its total than expected in the week ended last Friday. Storage levels are about 20% below last year's level and prices have now…
Crude Oil Price Dips Following Inventory Report
U.S. commercial crude oil inventories rose by 1.9 million barrels in the week ended last Friday. Analysts were looking from a drop of more than 1 million barrels. U.S. production increased, exports decreased, and…
With Oil Nearing 4-Year Highs, Merrill Lynch Has 5 Top Stocks to Buy Now
These four top stocks have not gone up in tandem with oil pricing, and some are offering outstanding entry points. They are outstanding long-term buys for growth portfolios looking for income.