Soaring U.S. crude production also weighs on market. Oil prices struggled to stay in positive territory on Wednesday after data showed industrial activity in some of the world's major crude-consuming nations has softened. May Brent crude futures were virtually unchanged at $66…
BHP Billiton Ltd and ExxonMobil Corp's Esso Australia said on Friday they have dropped a sale process started 20 months ago for some of Australia's oldest and largest oilfields. 'BHP and Esso have reached a decision to not progress with…
Vitol executive committee member Chris Bake said 2018 oil demand is looking 'fairly strong.' 'OPEC remains disciplined and the consequences are visible in track down in inventories...Half a billion barrels of oil has been drawn down in a short period of time…
Stronger dollar makes oil costlier for some buyers; API report showed lower U.S. crude inventories. Oil prices fell on Thursday, dragged lower by a firmer dollar that offset support from a surprise decline in U.S. crude inventories. Brent crude futures were down 11 cents at $65…
Dutch survey and geotechnical services firm Fugro said it has been awarded a contract by China’s Guangzhou Marine Geological Survey (GMGS) to perform gas hydrate investigation on the Northern Continental Slope of the South China Sea. The…
Petroleo Brasileiro S.A. produced 2.1 million barrels of oil per day (bpd) in January, 1 percent below December's levels, due to maintenance and an asset sale, Brazil's state-run oil company said on Wednesday. Petrobras, as the company is known…
OPEC is closing in on its goal of reducing oil inventories held by industrialised nations to their five-year average, the original target of a supply-cutting pact with Russia and others, figures from the group's head of research showed on Tuesday…
TransCanada Corp's Columbia Gulf Transmission unit on Friday filed with U.S. federal energy regulators to commence service on its Cameron Access natural gas project in Louisiana on March 1. The $300 million Cameron Access projects includes…
Petrochemicals company LyondellBasell Industries NV will buy plastic composites maker A. Schulman Inc for $1.24 billion, doubling the size of its plastics business. LyondellBasell will pay $42 per share, an 8.7 percent premium to Schulman's Wednesday close…
China's new crude futures contract faces a mountain of obstacles to overcome if it is to establish itself as a viable benchmark for trading with the world's largest oil importer. The Shanghai International Energy Exchange (INE), which is part of the Shanghai Futures Exchange…
Colonial Pipeline Co is allocating space for Cycle 12 shipments on Line 20, which carries distillates from Atlanta to Nashville, Tennessee, according to a notice sent to shippers on Thursday. Committed information will be available on Friday…
Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity…
Saudi says to keep exports below 7 million bpd in March; OPEC's Barkindo says 2018 oil demand growth to be healthy. Saudi Arabia will restrain its oil exports in March despite lower domestic need for crude as OPEC's leader is pushing to…
Colonial Pipeline is allocating Cycle 12 shipments on Line 2, its main distillate line, the company said in a notice sent to shippers on Tuesday. Committed information on the line will be available on Thursday, the company said. Line 2 runs from Houston to Greensboro…
IKM Subsea Singapore said it has kicked off 2018 with a double contract award. The first is a contract to provide two remotely operated vehicles (ROV) for a floating liquefied natural gas (FLNG) mooring installation in Bangladesh. IKM Subsea…
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