Canada's energy sector is praising the federal government for approving Kinder Morgan’s proposed TransMountain pipeline expansion but was “disappointed” it rejected Enbridge’s Northern Gateway pipeline.
British bank Barclays has joined the list of top banks to exit energy trading, an exodus that analysts say raises concern among oil producers that falling liquidity means they cannot use derivatives for their basic function: to hedge risk by locking in future prices.
Texas regulators have denied a request by Pioneer Natural Resources to permanently classify a set of Eagle Ford wells as gas-producing in a case that raised questions about how the state categorises wells.
Baker Hughes is joining forces with private equity firm CSL Capital Management and Goldman Sachs-managed fund West Street Energy to create a new hydraulic fracturing company — but some analysts questioned the valuation of the deal.
Throughout the two decades of Upstream coverage of oil news, Opec has kept a relatively steady production level accounting for roughly one-third of world output — albeit with prices fluctuating wildly from under $20 to almost $150 per barrel, writes Vahe Petrossian.
It would seem to the casual observer that the offshore rig market has been stuck in a time warp when considering typical floater dayrates were also below $200,000 nearly two decades ago, writes Steve Marshall.