Enterprise Products Partners LP (EPD) on Wednesday said crude pipeline volumes fell 26.1% in the third quarter as the COVID-19 pandemic hurt oil prices and left midstream companies with fewer barrels to transport after producers slashed output.
Fujairah Oil Industry Zone on Wednesday
published the following weekly inventory data for oil products for the week ended
Oct. 26, according to industry information service S&P Global Platts.
* U.S. offshore Gulf oil cut 16% ahead of storm. * Libyan output to reach 1 million bpd in weeks. * U.S. crude inventories expected to rise -poll. * Coming Up: API oil data at 4:30 p.m. ET/2030 GMT. By Laura Sanicola.
Contango Oil & Gas Co (MCF): * CONTANGO ANNOUNCES PRIVATE EQUITY CAPITAL RAISE. * Contango Oil & Gas Co (MCF) - EXECUTION OF AGREEMENT WITH SELECT GROUP OF INSTITUTIONAL AND ACCREDITED INVESTORS TO SELL 26.5 MILLION SHARES OF COMMON STOCK. * Contango Oil & Gas Co (MCF) - EXPECTS TO RECEIVE GROSS PROCEEDS FROM EQUITY CAPITAL RAISE OF ABOUT $39.7 MILLION Source text for Eikon: Further company coverage:
Mid-Con Energy Partners LP (MCEP): * CONTANGO OIL & GAS COMPANY AND MID-CON ENERGY PARTNERS, LP ANNOUNCE STRATEGIC MERGER CONTINUING CONTANGOS CONSOLIDATION STRATEGY; CONTANGO ANNOUNCES RELATED INCREASE IN BORROWING BASE. * CONTANGO OIL & GAS (MCF) - MID-CON UNITHOLDERS WILL RECEIVE 1.75 SHARES OF CONTANGO STOCK FOR EACH MID-CON COMMON UNIT OWNED.
Oil prices fell more than 3% on Monday, extending last week's losses as coronavirus cases continued to surge in the United States and Europe, while Libya's rebound in crude production raised fears of oversupply. The United States reported its highest number yet of new coronavirus infections in two days through Saturday, while in France new cases hit a record of more than 50,000 on Sunday.
U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row for the first time since June 2018, with the industry expecting more momentum in drillers' return to the wellpad as crude prices steady around $40 a barrel.
A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to transfer crude off the vessel posed the risk of a spill, the energy minister of neighboring Trinidad and Tobago said.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
