British Petroleum one of the largest energy companies in the world has accused Monroe Energy of wrongfully terminating a crude supply contract in 2016. According to the federal court filings by the oil company BP claims Monroe’s actions cost BP at least $59 million in damages. In a lawsuit filed in the U.S. District Court… Keep reading →
Oil Prices
Broken Contract Brings BP and Monroe Energy to Court
By Michael McDonaldSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.Breakeven oil prices have fallen below $40 per barrel as of late – a trend that some analysts believe on applies to shale companies, such as Devon Energy and EOG Resources. However, new data shows that even the big players, the major oil companies, have reached the same breakeven levels. These shale companies (also known… Keep reading →
Is Oil About to Stabilize?
By Michael VinciThe International Energy Agency (IEA) has released a statement that they believe the oil market is soon approaching equilibrium, mostly due to the success of the OPEC production deal. The agency’s data shows that demand is growing at a constant and regular pace in the oil market. “The numbers are there to support it,” according… Keep reading →
The decision by the Trump Administration to launch missile strikes against Syria may affect oil markets. The Middle Eastern country broke international law established by the United Nations and the Geneva Conventions when it decided to use chemical weapons on rebels in the country – a banned form of artillery. The true outcome hinges on… Keep reading →
The Permian Basin has been one of the largest producers of oil in the United States since December 2016. Spurred by the profit incentives of high oil prices due to OPEC supply cutbacks, these Western Texas rigs are some of the fastest growing in the country, and as a result, analysts are issuing recommendations to… Keep reading →
Controversial Keystone XL Pipeline Approved by President Trump
By Danielle IzzoFor years TransCanada has tried to have their Keystone XL Pipeline project approved by the U.S. government. Originally the proposal was denied by former President Obama, but after the election this year President Trump enacted an executive order bringing the proposal back to the surface. Since the projects reintroduction to the forefront of climate and… Keep reading →
OPEC Cutback Extension Called into Question
By Michael VinciThe agreement between OPEC and non-OPEC countries around the world to limit supplies has been called into review by a joint committee of ministers from the oil producers. Prior statements from these countries has hinted at the possibility of an extension, always citing the high levels of conformity between the members of the pact. Previously,… Keep reading →
Repsol, a Spanish energy company with drilling operations in Alaska, claims to have found an oil reserve containing 1.2 billion barrels of oil. The find in Alaska’s North Slope is the largest onshore discover in the United States in the last 30 years.
Investment In Oil And Gas Midstream Infrastructure
By David Baker, John Cunningham, Gareth Hodder, Richard Jones, Caroline Sherrell | White & Case LLP
At a time of uncertainty for the long-term prospects of oil prices, midstream infrastructure divestments in the North Sea could help oil and gas companies maintain the viability of UKCS oil and gas production.
Shell loses, but everybody wins.
