Why oil, gas giant ConocoPhillips stock bucked industry trends

ConocoPhillips CEO: We’ve really embraced the volatility in the commodity price cycle ConocoPhillips CEO Ryan Lance on the decline in oil prices, where the opportunities are for the company, the potential impact of the partial government shutdown and the regulatory relief under the Trump administration. Shares in ConocoPhillips, one of the biggest U.S. oil exploration and production companies, rose more than 10 […]

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Chevron, Total and Reliance join oil blockchain platform Vakt

LONDON (Reuters) – Oil majors Chevron (CVX.N) and Total TOTP.PA, along with major Indian refiner Reliance Industries (RELI.NS), have joined the blockchain-based platform Vakt, London-based Vakt said on Tuesday. Vakt, already in use by other major trading firms since the end of last year, is the first of many blockchain pilot schemes for commodities trading to go live. The firm […]

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CME says it plans to launch e-auction for U.S. crude oil exports

SINGAPORE (Reuters) – CME Group Inc said on Tuesday it plans to launch an e-auction platform with Enterprise Products Partners LP for U.S. spot crude oil export cargoes to be priced based on West Texas Intermediate (WTI) Houston futures. “The electronic auction will provide a competitive and transparent venue for firms across the world to efficiently hedge U.S. crude oil,” […]

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Venezuela's PDVSA inks oil deal with firm part-owned by Florida Republican

CARACAS (Reuters) – Venezuelan state oil firm PDVSA [PDVSA.UL] has signed a deal with little-known U.S. energy firm Erepla that is part-owned by a prominent Florida Republican to help increase the socialist-run country’s plummeting crude oil output, the company said. Erepla Services LLC, part-owned by Republican Harry Sargeant III and which Delaware state records show was only registered two months […]

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