RP Weekly Recap | October 25 – 29
To kick off Halloweekend, it’s time to bring you a thrilling story. Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), unveiled its latest project to attract tourists to the country by offering epic adventures on THE RIG. Inspired by offshore oil platforms, the new tourism project in the Arabian Gulf will span a combined total area of more than 150,000 square meters and is expected to attract tourists from around the world. Are you brave enough for the adventure? Find out in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 245,808,361 (up from 242,759,366last week)
- Number of Cases (USA): 45,840,958 (up from 45,314,441last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Pioneer Natural Resources Lost $501 Million on Third-quarter Hedging
- U.S. Residential Natural Gas Bills To Jump 30% This Winter
- Diamondback Energy Divests Permian Water Assets in $160 Million Dropdown
- Liberty Oilfield Services Acquires PropX in $90 Million Deal
- Third Point Has Big Shell Stake, Urges Energy Giant to Break Up
- Oasis Closes Williston Basin Acquisition from Diamondback Energy
- Wilks Brothers to Acquire Midland, Texas-based Dawson Geophysical
- WTI Crude Hits Highest Level In 7 Years
- Prepare for Propane Sticker Shock
- WTI Prices Jump As Cushing Crude Draw Worries Oil Market
- Cheniere Inks Deal with Glencore for Corpus Christi LNG Project
- Colorado Oil Regulator Give State’s Largest Owner of Aging Wells Cleanup Deadline
- New York Denies Permits for Proposed Natural Gas-fired Power Plants
- U.S. Coal Stocks Plunge To The Lowest Level Since 1997
- Democrats Challenge Big Oil Executives From Shell, Exxon, Chevron Over Climate Policy
Global Market News
- Saudi Arabia Looks To Attract Tourists With ‘Epic’ Offshore Rig Thrills
- Saudi Arabia Pledges 2060 Target of Net-Zero Emissions
- China Looks To Significantly Reduce Fossil Fuel Consumption By 2060
- A Cold Winter Could Double Natural Gas Prices And Send Oil To $100
- What To Expect From The COP26 Climate Summit
- Iran’s Gas Stations Out Of Service Due To Possible Cyberattack
- Norway Is A Big Winner In Europe’s Gas Crisis
- Bigger Than Exxon: Elon Musk’s Net Worth Tops Exxon Market Value
- OPEC+ Ready To Risk Higher Prices
- Europe’s Push to Loosen Russian Influence on Gas Prices Bites Back
- China’s Winter Natural Gas Demand to Rise 10% from Year Earlier
- Global Food Prices Set To Soar As The Oil And Gas Crunch Continues **INTERESTING READ**
- Greenhouse Gas Levels Hit Record; World Struggles to Curb Damage **MUST READ**
- Jobless Claims Continue to Fall to Pandemic-Era Lows – the weekly number continues to show improvement
United States Rig Count
- UP 2 from last week for a total of 544
- Up 83.7% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A New Basin Breakdown for the month of September is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Saudi Arabia, the biggest G20 emitter per capita, has recently announced their plans to become a leader in green energy. The announcement includes improved goals for 2030, and the goal to be net-zero by 2060. Read more HERE!
- RARE PETRO is the tik talk of the town! Short-form content to educate both the public or industry professionals is available NOW! Check out our latest Tik Tok Video uncovering what Holywood does not understand about a blowout.
- RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the second edition of “Side Chat”.
- Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round.
- As Always, A New Monday Madness Podcast!
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