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US Oil Stocks Rise, Refining Rates Cut - EIA

Feb 14, 2018

U.S. crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 1.8 million barrels in the week to Feb…

Asia's Soaring Gas Demand Beckons New LNG Projects

Feb 14, 2018

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 Arabia to Restrain March Oil Exports

Feb 14, 2018

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…

Vallourec Drilling Products Cuts Roughly 150 Jobs in Texas

Feb 13, 2018

Vallourec Drilling Products, a subsidiary of Paris, France-based steel pipe maker Vallourec , will lay off roughly 150 employees in Texas, according to a regulatory filing.Vallourec specializes in making tubular products for the energy and other industrial sectors…

Sonatrach Eyes More Vessels to Boost Asia Gas Sales

Feb 12, 2018

Algeria will acquire more vessels to transport gas to Asia as it eyes increased sales in that region, the chief executive of state energy firm Sonatrach said on Monday.'With Russia and the U.S., gas competition is tough,' Abdelmoumen Ould…

Seadrill Nears Comprehensive Restructuring Deal

Feb 12, 2018

Rig firm Seadrill, which last year filed for bankruptcy protection in a U.S. court, is working towards a comprehensive deal with all its creditors that could be concluded this week, it said in a court filing late on Friday. Once the largest drilling rig operator by market value…

Lebanon Will Use Energy Block Disputed by Israel

Feb 09, 2018

Lebanese Energy Minister Cesar Abi Khalil vowed on Friday there would be full exploration in offshore energy Block 9, part of which lies in waters disputed by neighbouring Israel.Lebanon said on Friday it had signed its first offshore oil…

Vestas Bets on Geared Turbines in Tough Wind Markets

Feb 09, 2018

Geared turbines said to be cheaper than direct drive rivals and the wind power industry is facing severe cost pressures. Vestas is betting on geared wind turbine technology to meet the ambitious profit-margin target it promised when it reported quarterly results on Wednesday…

Patterson-UTI Energy Reports Bigger Loss than Expected

Feb 08, 2018

Oil and gas driller Patterson-UTI Energy Inc, dealing with the fallout of a drilling accident that killed five workers last month, reported a bigger-than-expected quarterly loss on Thursday as expenses more than doubled.The accident at an…

California to Ban Crude from Trump Offshore Drilling Plan

Feb 07, 2018

California will block the transport of petroleum from new offshore oil rigs through its state, officials told Reuters, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters. California's…

Statoil's US Operations Have Turned the Corner

Feb 07, 2018

Statoil's U.S. operations have turned the corner and could deliver up to $5 billion in net cash flow over the 2018-2020 period at an oil price of around $70 a barrel, Torgrim Reitan, Statoil's head of U.S. operations said on Wednesday.'As…

India to Auction 60 Small Discovered Oil, Gas Fields

Feb 07, 2018

India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said in a tweet after a cabinet meeting.Blocks that will be auctioned were originally…

Shell Russia: Impact of Western Sanctions 'minimal'

Feb 07, 2018

International oil major Royal Dutch Shell's Russian business felt minimal impact from Western sanctions on Russia, the branch's head Sergey Starodubtsev said on Wednesday, adding the firm was fully compliant with international law. Shell Neft…

BP to Boost U.S. Investment After Tax Reform

Feb 06, 2018

British oil and gas company BP will increase investment in the United States after the lowering of tax rates under President Donald Trump, Chief Executive Bob Dudley said on Tuesday. 'It is important for us, there is no doubt we will increase investments…

China Surpasses US as Largest Crude Oil Importer

Feb 05, 2018

China took the crown as the world’s largest crude oil importer in 2017, according to U.S. Energy Information Administration press release. China imported 8.4 million barrels per day, and the United States imported 7.9 million barrels per day…

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Russia Expecting Oil Output Bump

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VOS Champion Starts New Charter

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Fugro Completes Deepwater AUV Survey for Shell

China to Launch State Pipeline Group

China to Launch State Pipeline Group

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Neptune Buys East Sepinggan Stake

EnQuest Awarded Block PM409 PSC

EnQuest Awarded Block PM409 PSC

Tendeka Launches One-trip Remedial System

Tendeka Launches One-trip Remedial System

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