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The latest upstream oil and gas news from around the world.

Copyright: Copyright 2017 Inc. All rights reserved.

Mexico's Cotemar Sees $200MM Investment In Oil Projects By 2018

Thu, 17 Aug 2017 00:00:00 GMT

Cotemar plans to invest at least $200 million in two oil projects by the end of 2018.

Kemp: Hedge Funds Gamble For A Third Time On Oil Rebalancing

Mon, 14 Aug 2017 00:00:00 GMT

Hedge fund managers are becoming bullish towards crude oil and refined fuels for the third time this year and must be hoping the signs of market rebalancing are real this time.

Gazprom Neft to Borrow $2 Billion Next Year in Bet on Rates

Thu, 10 Aug 2017 00:00:00 GMT

Gazprom Neft plans to borrow the equivalent of $2 billion next year on the expectation crude markets will stabilize.

Biggest Indian Explorer Is Said to Plan First Ever Borrowings

Thu, 10 Aug 2017 00:00:00 GMT

Oil and Natural Gas Corp. plans to tap the debt market for the first time, an opportunity that may be hard to pass up for bond bulls.

Continental Resources CEO: Absolutely No New Debt

Wed, 09 Aug 2017 00:00:00 GMT

Continental Resources will fund future wells from cash flow and not take on any new debt, Chief Executive Harold Hamm says.

Continental Becomes Latest US Shale Producer To Cut Budget

Tue, 08 Aug 2017 00:00:00 GMT

Continental Resources cut its 2017 capital budget, the latest US shale oil producer to cut back on drilling and fracking equipment amid tepid crude prices.

Rosneft Says Lent Venezuela's State Oil Firm A Total Of $6B

Tue, 08 Aug 2017 00:00:00 GMT

Rosneft says it made around $6 billion in pre-payments to PDVSA and had no immediate plans to make any further advance payments soon.

Russian Oil Giant Lends Support to Venezuela Oil Company

Fri, 04 Aug 2017 00:00:00 GMT

Russia's largest oil company disclosed another advance payment to Venezuela's state producer after the US sanctioned President Nicolas Maduro on Monday.

PDVSA Asks Bondholders to Waive Financial Reporting Requirements

Thu, 03 Aug 2017 00:00:00 GMT

PDVSA is asking bond investors for a temporary waiver from financial reporting requirements because it can't complete the documents on time.

Saudi Oil Minister Is Said to Have Met Top Commodity Hedge Funds

Thu, 03 Aug 2017 00:00:00 GMT

Khalid Al-Falih, Saudi Arabia's energy minister, met in private with some of the world's top commodity hedge funds in July.

Nigeria's State Oil Company Signs Deals With Chevron, Shell

Thu, 03 Aug 2017 00:00:00 GMT

Nigeria's state oil company says it signed financing agreements with Chevron and Shell worth at least $780 million.

Occidental Petroleum's Profit Beats As Prices For Chemicals Jump

Wed, 02 Aug 2017 00:00:00 GMT

Occidental Petroleum Corp posts a better-than-expected quarterly profit.

Marathon Oil Cuts Capital Budget After Posting Quarterly Loss

Wed, 02 Aug 2017 00:00:00 GMT

Marathon Oil Corp cuts its 2017 capital budget after posting a quarterly loss that fell in line with Wall Street's expectations.

The Energy Patch: Where Rights Offerings Are 'Sexy' Again

Tue, 01 Aug 2017 00:00:00 GMT

Energy businesses that are trying to exit bankruptcy are finding a savior in some of their own creditors.

Saudis Said to Weigh Oil-Price Linked Tax for Aramco Before IPO

Mon, 31 Jul 2017 00:00:00 GMT

Saudi Arabia is considering a flexible tax system for state-owned oil company Aramco that would increase royalty payments when crude prices rise, according to people familiar.

European Oil Producers' Weak Hedging Shows Bet on Price Rebound

Mon, 31 Jul 2017 00:00:00 GMT

Europe's smaller oil producers are more optimistic about the market than they have been for the past couple of years as a significant reduction in hedging shows they are betting on higher prices.