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Oil Prices News

 

Cenovus Sees Crude Differentials to Ease Out by Mid-2019

Oct 31, 2018

Canadian oil and gas producer Cenovus Energy Inc expects the spread between Western Canadian Select (WCS) and U.S. benchmark Crude (WTI) to 'significantly' ease out by mid 2019, Chief Executive Officer Alex Pourbaix said on a call.Cenovus also expects crude by rail to reach 300…

U.S. Crude Stocks Rise by 3.2 mln bbls Last Week - EIA

Oct 31, 2018

U.S. crude stocks rose last week, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 3.2 million barrels in the last week, compared with analysts' expectations for an increase of 4…

Oil Prices Fall as Global Supply Rises

Oct 31, 2018

Oil prices fell for a third day on Wednesday on evidence of rising global supply despite the imposition of U.S. sanctions next week that are already curbing Iranian crude supply.Benchmark Brent crude oil was down 40 cents at $75.51 a barrel by 1410 GMT…

Oil Refiners Face Rollercoaster Ride as Fuel Margins Seesaw

Oct 31, 2018

Oil product margins have been tossed around on a wild rollercoaster ride in October, as factors like impending Iran sanctions, the China-U.S. trade war and upcoming shipping regulations yank fuel profits up, down and back again.Some profit margins…

Israeli 2014 Oil Spill Caused $76 Mln of Damage

Oct 31, 2018

A 2014 oil spill by a secretive state-run company that flooded an Israeli nature reserve caused 281 million shekels ($76 million) worth of damage, Israel's Environmental Protection Ministry said on Wednesday.The ministry sent its estimate to…

Low Returns Put Lid on New British Gas Storage

Oct 31, 2018

Investment in new, large gas storage sites in Britain which can help provide a buffer in times of high demand and reduced supply is seen by operators as unlikely due to market prices offering low returns.This is due to weak gas price spreads…

Hess Corp Posts Quarterly Profit, Beats Estimates

Oct 31, 2018

U.S. oil and gas producer Hess Corp posted its first profit in about four years that also easily beat analysts' estimates, as it sold oil at higher prices and managed to slash costs by 62 percent.New York-based Hess has not reported a profit…

Equinor Seeks Investments in India

Oct 31, 2018

Norwegian energy firm Equinor is exploring investment opportunities in India, its chief executive told Reuters on Wednesday.'We are looking at India both from oil and gas, but also from the renewables. It's a very early (stage), but we need to be on the ground…

Kvaerner Wins Sverdrup Jacket Number Four

Oct 31, 2018

Norway's Equinor has awarded a NOK 900 million ($107 million) contract to local contractor Kvaerner for delivery of the steel substructure for the Johan Sverdrup Phase 2 process platform.The engineering, procurement and construction (EPC) award…

Yarudeyskoye Field Produced 10 MT of Crude Oil

Oct 31, 2018

PAO Novatek announced that cumulative production at the Yarudeyskoye field owned by the Company’s subsidiary Yargeo, reached a milestone of 10 million tons of crude oil production since the commencement of operations.The field’s commercial production commenced in December 2015…

Bolsonaro Approached Castello Branco About Being Petrobras CEO

Oct 30, 2018

Brazilian President-elect Jair Bolsonaro's team approached Roberto Castello Branco, a former board member at state-controlled Petroleo Brasileiro SA (Petrobras), about the possibility of his becoming its new chief executive, two people with knowledge of the matter said on Tuesday…

Bilfinger Secures Johan Sverdrup Contracts

Oct 30, 2018

German based Bilfinger said on Tuesday it has received follow-up orders from its contract partner, the Norwegian service company Aibel, that are to tie in with phase 1 of the Equinor operated Johan Sverdrup oil field project on the Norwegian continental shelf…

Brazil's Cosan Eying Refining Partnership with Petrobras

Oct 30, 2018

Brazil's Cosan SA Indústria e Comércio, a leading ethanol producer and fuel distributor, is interested in refining partnerships with oil company Petroleo Brasileiro SA, its chairman Rubens Ometto said on Tuesday.The company is 'looking at' potential partnerships…

Oil Prices Fall 2% on Rising Supply and Trade War

Oct 30, 2018

Oil prices fell more than 2 percent on Tuesday on signs of rising supply and concerns that global economic activity and fuel demand would be hit by a deepening U.S.-China trade dispute.Benchmark Brent crude oil fell by $2.25 a barrel to a low of $75…

Next-wave LNG Race Hits Hurdles in US-China Trade War

Oct 30, 2018

The delay of a U.S. Gulf Coast liquefied natural gas (LNG) export project has crystallized fears that the U.S. trade battle with China is hampering efforts to line up buyers needed to move ahead with multi-billion-dollar builds.The United States…

Current News

Noble Corp: New Rig Deals in UK, Extensions in Qatar and Suriname, Cancellation in Vietnam

Noble Corp: New Rig Deals in UK, Extensions in Qatar and Suriname, Cancellation in Vietnam

China's MingYang Launches 11MW Offshore Wind Turbine

China's MingYang Launches 11MW Offshore Wind Turbine

IEA Bumps Up 2020 Oil Demand Forecast

IEA Bumps Up 2020 Oil Demand Forecast

GTT to Design Tanks for COSCO LNG Tanker Trio

GTT to Design Tanks for COSCO LNG Tanker Trio

Australian Offshore Safety Regulator to Resume Physical Inspections

Australian Offshore Safety Regulator to Resume Physical Inspections

Ocean Tankers' Supervisor to Start Restructuring Talks with Owners

Ocean Tankers' Supervisor to Start Restructuring Talks with Owners

Eni Hires Polarcus for Asia Pacific Survey

Eni Hires Polarcus for Asia Pacific Survey

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