There’s a lot going on in our industry, so we thought we’d help you stay up to date with some of the current news. Here’s a brief oil and gas news round-up, including some of the hottest stories that got our attention during the month of October.
Prices and Costs
Always a hot topic in any industry, the financials of the oil and gas industry are no different. Cost and price have been all over the news in October.
Oil Prices Finish Higher Again
Oil prices are finishing higher toward the end of October, and many believe we have the stable geopolitical scene to thank for this positive trend. Let’s hope this continues.
Rising U.S. Oil and Gas Causes 30% Jump in Federal Minerals Revenues
The increase in oil and gas production on U.S. public lands created a 30% growth in federal energy and minerals revenue disbursements for fiscal year 2019, upward to $11.69 billion.
Shell is Pulling Out of Caspian Sea Projects Due to Cost
With prices remaining stubbornly high, Shell has decided to strand two projects off the coast of Kazakhstan. This is part of an industry-wide effort to eliminate projects with break-even costs to focus on manageable ones with quicker returns.
Brazil Oil Auction Expected to Bring in $50 billion
The auction is scheduled for November and is expected to be the most successful one they’ve had based on Brazilian government estimates. Early estimates suggest that 15 billion barrels of oil will be auctioned off. Wow.
Is Peak Output Coming for U.S. Shale Drillers?
America had a shale boom that had us riding the wave of production, but it’s slowing down. Luckily, we’ve been edging toward energy independence. What comes next?
If you’re curious about the North American Pipeline roundup, learn about the different contracts awarded for pipeline projects.
No Matter the News, Get the Best Equipment at Tiger General
We’ve been selling premium oilfield equipment since 1925. We’ve seen the market go up and down, watching the way the oil and gas news changes. But we stay consistent and dependable, no matter what. Let us help you. Fill out the Tiger General Truck Inquiry Form today to get started on bringing your next piece of equipment to where it’s needed most.