Oil And Gas Jobs: What It Takes To Make It In The Oil Industry

The oil industry is a vast and complex field that offers numerous job opportunities for those interested in working there. The oil and gas sector is responsible for producing, exploring, transporting, and refining crude oil and natural gas. Various types of jobs are available in the oil industry, each requiring different levels of experience and education. In this article, we will delve deeper into some of the most common types of jobs in the red-hot oil industry, what they involve, and why they are essential. 1. Geologists Geologists play…

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-And-Gas-Jobs-What-It-Takes-To-Make-It-In-The-Oil-Industry.html

Chronic Shortages Push Uzbekistan Towards Russian Natural Gas

Uzbekistan’s state-owned natural gas company is still working on adjusting pipeline infrastructure to enable it to import fuel from Russia, a measure it is pursuing to help avoid a repeat of the chronic shortages endured over winter. Uztransgaz said on its Telegram channel on March 3 that the aim of the work is to avoid gas imported from Russia interfering with the flow of locally produced gas in the national pipeline network. This imminent reliance on Russian gas represents a crushing acceptance of failure of Uzbekistan’s…

Read more at: https://oilprice.com/Energy/Natural-Gas/Chronic-Shortages-Push-Uzbekistan-Towards-Russian-Natural-Gas.html

Sinochem Oil Workers Taken Hostage As Protests In Colombia Rage On

Workers from Sinochem Group have been taken hostage by Colombians protesting poor road conditions, local media have reported.  At least one policeman and a civilian are dead. The unrest between protests and the police started after a group of Colombian protestors broke into an oilfield owned by Emerald Energy—a subsidiary of Sinochem Group, also known as the China National Chemical Corporation. The oilfield is located in southern Colombia in the province of Caqueta. Sinochem Group is an integrated operator in the oil and chemical industry.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Sinochem-Oil-Workers-Taken-Hostage-As-Protests-In-Colombia-Rage-On.html

U.S. Oil Drilling Activity Retreats For Third Week In A Row

The total number of total active drilling rigs in the United States fell by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count fell to 749 this week—99 rigs higher than the rig count this time in 2022 and 326 rigs lower than the rig count at the beginning of 2019, prior to the pandemic. Oil rigs in the United States decreased by 8 this week, to 592 after decreasing by 7 in the week prior. Gas rigs rose 3 to 154. Miscellaneous rigs rose by 1 to 3. The rig count in the Permian Basin fell by 4, and…

Read more at: https://oilprice.com/Energy/Energy-General/US-Oil-Drilling-Activity-Retreats-For-Third-Week-In-A-Row.html

Russia Plans To Mothball Sabotaged Nord Stream Pipelines

Russia is expected to mothball the Nord Stream natural gas pipelines damaged in the sabotage last autumn as there are no plans to either put them to use or repair them soon, Reuters reported on Friday, quoting sources with knowledge of the plan. Russia plans to seal up the ruptured pipelines and mothball them as it doesn’t see relations with the West improving soon. This means the pipelines are unlikely to be needed and therefore won’t need to undergo repairs, the sources told Reuters. The Nord Stream pipelines were sabotaged in late…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Plans-To-Mothball-Sabotaged-Nord-Stream-Pipelines.html

How Russia’s War On Ukraine Is Altering Global Crude Oil Trade

The Ukraine-Russia war has rerouted crude tanker flows over the past year, equating to higher profits for shipowners. But the upside is not evenly spread. Midsize crude tankers have been the big beneficiaries. It’s not only that Russian crude export terminals can’t handle larger tankers. A highly unusual transport pattern for U.S. crude exports has emerged, creating another war-induced headwind for owners of larger tonnage. VLCCs cannibalize trans-Atlantic trade Prior to the war, U.S. crude exports to Europe were loaded aboard…

Read more at: https://oilprice.com/Energy/Crude-Oil/How-Russias-War-On-Ukraine-Is-Altering-Global-Crude-Oil-Trade.html

Coal May Be Dying, But America Still Needs Oil And Gas

As the world’s largest economy, America faces unique challenges transitioning to clean energy. While utilities are rapidly closing coal plants, American oil and gas drillers are on track to set new pumping records, driven by high demand at home and abroad.  This highlights the imbalance of the transition, with electric cars and heat pumps replacing gas cars and furnaces but also driving up electricity demand on America’s grid. Unfortunately, zero-carbon sources cannot yet provide vast amounts of energy. According to Arne Olsen, a senior Energy…

Read more at: https://oilprice.com/Energy/Crude-Oil/Coal-May-Be-Dying-But-America-Still-Needs-Oil-And-Gas.html

Oil Prices Fall On Rumors Of An OPEC Split

Oil prices were relatively steady early on Friday morning as inflation fears and rising inventories battled with optimism regarding China’s rebounding economy. Then rumors began to circulate that the UAE was considering leaving OPEC and oil prices dropped dramatically. Oilprice Alert: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, and all for less than…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Fall-On-Rumors-Of-An-OPEC-Split.html

UAE Has Internal Debate About Leaving OPEC

The United Arab Emirates is having an internal debate about the prospect of leaving OPEC, Emirati officials are telling the Wall Street Journal. The decision of the UAE to leave the oil-based group that accounts for nearly 38% of the world’s total crude oil production would diminish the group’s oil price-setting powers. The uncertainty regarding the UAE’s participation in the Organization of Petroleum Exporting Countries comes as the rift between UAE and OPEC’s de facto leader Saudi Arabia appears to be widening over the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UAE-Has-Internal-Debate-About-Leaving-OPEC.html

Russia’s Oil Revenues Plunged By 48% In February

Russian tax revenue from crude oil and petroleum products plummeted by 48% in February from a year earlier due to the much lower price of Russia’s flagship crude grade after the EU banned imports of Russian oil, according to Bloomberg estimates based on official Russian data. Total tax revenues from oil and natural gas dipped by 46% year over year to $6.9 billion (521 billion Russian rubles) in February, per data from the Russian Finance Ministry published on Friday. Russia’s revenues from crude oil and oil products alone crumbled by…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Oil-Revenues-Plunged-By-48-In-February.html

Interstate Natural Gas Pipeline Additions Fell To A Record Low In 2022

There were five new interstate natural gas pipeline projects in the United States last year, adding a total of 897 million cubic feet per day (MMcf/d) to interstate natural gas pipeline capacity. That is the least new capacity coming online since records began in 1995, the U.S. Energy Information Administration (EIA) says. Higher growth in intrastate capacity and a reduction in overall capital expenditures from oil and gas firms led to the low capacity additions to interstate natural gas pipelines last year, the EIA said in a new analysis based…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Interstate-Natural-Gas-Pipeline-Additions-Fell-To-A-Record-Low-In-2022.html

Shell Is Reviewing Its Plan To Reduce Oil Production This Decade

Shell’s plan to have its oil production decline by up to 2% each year this decade is currently under review, the supermajor’s new CEO Wael Sawan told The Times in an interview published on Friday, adding that he is a firm believer of the statement “don’t deny people energy.” Back in 2021, Shell said that its oil production peaked in 2019 and is set for a continual decline over the next three decades as it looks toward the renewables side of the business.    However, the post-Covid rebound in oil…

Read more at: https://oilprice.com/Energy/Energy-General/Shell-Is-Reviewing-Its-Plan-To-Reduce-Oil-Production-This-Decade.html

ADNOC Raises $2.5 Billion From Gas Unit IPO

The UAE’s energy major ADNOC has raised $2.5 billion from the listing of its gas business unit in what has become the biggest IPO since the start of the year. The offering was 50 times oversubscribed, with investors placing orders for $124 billion in total, Bloomberg reported. The issue was fully subscribed just hours after the offering was first announced. Then, this week, ADNOC had to increase the size of the planned offering by 25 percent due to strong investor interest, suggesting that despite the recent slump in gas prices interest in…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/ADNOC-Raises-25-Billion-From-Gas-Unit-IPO.html

Equinor Buys Suncor Energy’s UK Oil Assets For $850 Million

Equinor has signed a deal to buy for $850 million the UK assets of Canada’s Suncor Energy, including a stake in a massive producing oil field and an interest in one of the major planned developments in the UK North Sea. The transaction, subject to relevant regulatory approvals, includes Suncor Energy’s 29.89% non-operated interest in the producing Buzzard oil field, a 40% operated interest in the Rosebank development, and Suncor employees based in the UK who work with these assets, Equinor said on Friday.    The Buzzard field,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Equinor-Buys-Suncor-Energys-UK-Oil-Assets-For-850-Million.html

Russian Fuel Exports Dropped By 20% In February

Russian oil product exports dropped by 20 percent last month, hitting the lowest level since May last year, BNE IntelliNews reported, citing data from S&P Global. The February average was also 24% lower than the average pre-war level of oil product exports. The data follows an earlier report that crude oil exports from Russia had remained relatively stable despite the pileup of sanctions, including an embargo on both oil and oil products in the European Union. According to cargo tracking data from Kpler, Russian oil and fuel exports last month…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russian-Fuel-Exports-Dropped-By-20-In-February.html

Stocks close higher Friday, Dow breaks 4-week losing streak as 10-year Treasury yield retreats: Live updates

Stocks rose Friday as rates eased from their recent highs and Wall Street notched a winning weekly performance.

Read more at: https://www.cnbc.com/2023/03/02/stock-market-today-live-updates.html

Amazon pauses construction of second headquarters in Virginia

Amazon is pausing construction of parts of its second headquarters, dubbed HQ2, in Virginia, the company confirmed.

Read more at: https://www.cnbc.com/2023/03/03/amazon-pauses-construction-of-second-headquarters-in-virginia.html

Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line

The IRS and the Treasury Department face a fierce fight over how a massive green hydrogen tax credit included in the IRA will be implemented.

Read more at: https://www.cnbc.com/2023/03/03/clean-hydrogen-industry-future-depends-on-ira-tax-credit.html

Meta announces big price cuts for its VR headsets

Meta announced a dramatic price drop for its higher-end virtual reality headset, the Quest Pro, and for its Quest 2 headset, rolling out over the coming days.

Read more at: https://www.cnbc.com/2023/03/03/meta-quest-pro-vr-headset-gets-price-cut.html

This week’s best performers include Salesforce and these solar stocks

Take a look at some of this week’s biggest gainers, and analysts’ expectations for them going forward.

Read more at: https://www.cnbc.com/2023/03/03/this-weeks-best-performers-include-salesforce-and-these-solar-stocks.html

Full-time office work is ‘dead’: 3 labor experts weigh in on the future of remote work

The pandemic-era trend of working from home has staying power, due to benefits for workers and their employers, labor economists said.

Read more at: https://www.cnbc.com/2023/03/03/the-future-of-remote-work-labor-experts-weigh-in.html

Tesla’s investor day featured 17 execs, taking Elon Musk out of the limelight

One thing the Tesla Investor Day accomplished well was to turn shareholders’ attention to the broader organization under Tesla’s celebrity CEO.

Read more at: https://www.cnbc.com/2023/03/03/tesla-investor-day-featured-17-execs-taking-musk-out-of-limelight.html

Bitcoin sinks 3.5% for the week, and Illinois weighs new crypto regulatory regime: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, David DeCarlo, Illinois’ first regulatory innovation officer, discusses the state’s push for a new crypto regulatory regime.

Read more at: https://www.cnbc.com/video/2023/03/03/bitcoin-sinks-illinois-weighs-new-crypto-regulatory-regime-cnbc-crypto-world.html

Reid Hoffman steps down from OpenAI board to avoid potential conflicts of interest

Hoffman cited a desire to invest in companies using OpenAI’s software, which would cause a conflict of interest, he said in the post.

Read more at: https://www.cnbc.com/2023/03/03/reid-hoffman-steps-down-from-openai-board-to-avoid-potential-conflicts.html

U.S. approves $400 million military package for Ukraine; Wagner leader claims Bakhmut ‘practically surrounded’

Western countries and their allies are issuing condemnations of Russia and urging other countries to follow suit.

Read more at: https://www.cnbc.com/2023/03/03/live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

The cheapest and most expensive U.S. airports to fly out of—JFK, LAX didn’t make either list

CivMetrics collected the average cost of flights in and out of the100 busiest airports in the U.S. based on data from the Bureau of Transportation Services.

Read more at: https://www.cnbc.com/2023/03/03/cheapest-and-most-expensive-us-airports-to-fly-out-of.html

Egg prices increased 70% over the last year—here’s why

The worst avian flu outbreak in U.S. history has tripled the cost of eggs in some states.

Read more at: https://www.cnbc.com/2023/03/03/egg-prices-increased-70percent-over-the-last-yearheres-why-.html

Trump proposes 10 futuristic ‘Freedom Cities,’ featuring Jetsons-like flying cars

Trump, the top Republican 2024 presidential candidate, also called for the government to help the U.S. beat China in developing flying personal vehicles.

Read more at: https://www.cnbc.com/2023/03/03/trump-proposes-10-futuristic-freedom-cities-featuring-jetsons-like-flying-cars.html

Rickards: One Of The Biggest Propaganda Campaigns Ever…

Authored by James Rickards via DailyReckoning.com,

It’s extremely difficult to find the truth about the war in Ukraine.

The first reason for this is because… it’s a war.

Wars are always difficult to gauge in real-time.

The phrase “fog of war” was invented to convey the uncertainty and imprecision about the progress of any particular war.

Still, there’s another reason the war in Ukraine is confusing for so many.

It’s because the Ukrainian propaganda effort is one of the most astonishingly effective concoctions of lies ever seen.

From the “Ghost of Kyiv” fighter ace to the “Heroes of Snake Island” to wildly exaggerated claims of Russian casualties to the suppression of any news that reflects badly on Ukraine, the Ukrainian propaganda machine has been firing on all cylinders.

This might be expe …

Read more at: https://www.zerohedge.com/geopolitical/rickards-one-biggest-propaganda-campaigns-ever

Tesla China Sales For February Rise 13% To 74,402 Units

At least for the time being, the price cuts over at Tesla appear to still be working. That’s because the company’s total shipment of vehicles from China increased 13% sequentially in February, to 74,402 units, according to preliminary data released by China’s Passenger Car Association.

Tesla shares are up almost 2% in pre-market trading on the result.

While Tesla was able to buck overall declining trends in China’s auto market over the last several months, in February it had the broader trend at its back. Bloomberg reported on Friday morning that China’s new energy passenger vehicle wholesales were up 30% sequentially.

Additionally, the note pointed out that competitor BYD also experienced significant growth in the month, with 193,655 unit sales versus just 88,283 the year prior.

Tesla shares had slumped during the back half of this week, as the company’s mid-week investor day failed to provide enough short- and mid-term operational details to excite Wall Street. News outlets on Thursday morning called the presentation “underwhelming” and light on short-term specifics.

Read more at: https://www.zerohedge.com/markets/tesla-china-sales-february-rise-13-74402-units

The Coming Recession Will Be A Global One

Authored by Jon Wolfenbarger via The Mises Institute,

Over one hundred years ago, Austrian economist Ludwig von Mises discovered what causes the boom-bust business cycle.

As Mises explained, the boom is caused by central and commercial banks creating money out of thin air. This lowers interest rates, which encourages businesses to borrow this newly created money to fund capital-intensive investment projects.

The bust is caused when the money creation process slows. It is then that businesses discover there are not enough scarce resources to complete their projects, so these projects must be liquidated to allow for labor and other resources to be allocated to where they are most desired by consumers.

As a result, not only does the boom-bust business cycle cause tremendous short-term hardship, but it also lowers long-term living standards by wasting scarce capital. This is another application of the economics fac …

Read more at: https://www.zerohedge.com/economics/coming-recession-will-be-global-one

US, South Korea Announce Largest Joint Drill In Years While Calling Out “DPRK Aggression”

As if the world needs another trigger-ready hotspot and conflict theatre to open up, the US and South Korean forces on Friday announced the largest joint military drills held on the peninsula in a half-decade.

“The 11-day exercises will start March 13 and will include simulations as well as live demonstrations in the sea and air, and on land, U.S. Forces Korea and the Republic of Korea announced on Friday,” The Hill reports based on official statements. The statement from the allied militaries actually directly called out “aggression” from the north, which is likely to result in a fierce reaction from Pyongyang.

Col. Isaac Taylor, left, of the United Nations Command (UNC), Combined Forces Command (CFC), and United States Forces Korea (USFK) and Col. Lee Sung-jun of South Korea’s Joint Chiefs of Staff. Poo …

Read more at: https://www.zerohedge.com/military/us-south-korea-announce-largest-joint-drill-years-while-calling-out-dprk-aggression

Energy Price Guarantee expected to continue at same level in April

The BBC understands the Energy Price Guarantee is expected to continue at current levels for three months.

Read more at: https://www.bbc.co.uk/news/business-64830701?at_medium=RSS&at_campaign=KARANGA

First class stamp price to rise to £1.10

Royal Mail says it has to balance price rises against higher costs and fewer letters being posted.

Read more at: https://www.bbc.co.uk/news/business-64840646?at_medium=RSS&at_campaign=KARANGA

Arm opts for New York stock listing in blow to London

The ‘crown jewel’ of the UK tech sector says it will only pursue a US listing this year.

Read more at: https://www.bbc.co.uk/news/technology-64835243?at_medium=RSS&at_campaign=KARANGA

Death Crossovers: These 5 stocks signal further bearishness

In the NSE list of stocks, five stocks with a market cap of over Rs 10,000 crore have been witnessing Death Crossovers, according to stockedge.com’s technical scan data.

Read more at: https://economictimes.indiatimes.com/markets/web-stories/death-crossovers-these-5-stocks-signal-further-bearishness/articleshow/98381560.cms

Stocks to buy today: 6 short-term trading ideas by experts for 3 March 2023

India VIX moved down by 0.23% from 13 to 12.97 levels in the previous trading session. Volatility needs to cool down below 12-13 zones for market stability.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/stocks-to-buy-today-6-short-term-trading-ideas-by-experts-for-3-march-2023/articleshow/98381190.cms

Rupee unlikely to recoup 2022 losses in the next year: Poll

The cumulative trade deficit during April-January remained higher than its year-ago level, which may further weaken the rupee. Foreign portfolio investment outflows rose to a 7-month high in January as China reopened.

Read more at: https://economictimes.indiatimes.com/markets/forex/rupee-unlikely-to-recoup-2022-losses-in-the-next-year-reuters-poll/articleshow/98380238.cms

Market Extra: Is the U.S. housing market headed for a crash? ‘It all depends on how high rates go,’ mortgage veteran says.

Mortgage industry veteran Tracy Chen thinks U.S. home prices are in a holding pattern but are not yet vulnerable to a deep slide.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71A7-10FB736A3AF5%7D&siteid=rss&rss=1

Futures Movers: Oil ends higher after U.A.E. is said to deny it’s considering an OPEC exit

Oil futures end higher, erasing a drop that followed a report the United Arab Emirates was internally debating an exit from OPEC.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71A9-D00DF9AEE39D%7D&siteid=rss&rss=1

Market Snapshot: Dow rises 350 points, S&P 500 on track to snap 3 straight weeks of losses

U.S. stocks climb Friday afternoon, with the S&P 500 index on track to snap three straight weeks of losses with investors encouraged by data suggesting the economy remains resilient despite the likelihood of further Federal Reserve interest rate rises.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71A9-C4E3BDF25BBC%7D&siteid=rss&rss=1