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New RINA Guidelines for Additive Manufacturing

Jun 14, 2018

RINA, a specialist in additive manufacturing, has announced the release of its 'Guidelines for the certification of metallic products made by additive manufacturing', for the oil and gas industry.The use of additive manufacturing (or 3D printing) is expanding rapidly…

Russia's Novak: OPEC+ Can Consider Returning Up to 1.5 mln bpd

Jun 14, 2018

Members of the OPEC+ oil production cut deal can consider returning up to 1.5 million barrels of oil per day (bpd) to the market gradually, as one of the possible options, Russian Energy Minister Alexander Novak told reporters on Thursday.Novak also said the gradual increase is possible from July 1…

Oil Steadies Ahead of Key OPEC Meeting

Jun 14, 2018

Oil prices steadied on Thursday, but still faced pressure from evidence of rising U.S. output and uncertainty over the outlook for supply before a meeting next week of the world's largest exporters.Benchmark Brent crude oil was up 10 cents at $76…

EIA: Oil Barrel Price Steady Around $70

Jun 14, 2018

EIA expects Brent prices will average $71 per barrel in 2018 before declining to $68 per barrel in 2019.In the June 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Brent crude…

Oil Prices Slip as Production Rises

Jun 13, 2018

Oil prices slipped on Wednesday, hit by rising supplies in the United States and expectations that producers could relax voluntary output cuts.Brent crude was down 20 cents at $75.68 a barrel by 1330 GMT. U.S. light crude was 35 cents lower at $66…

China's CNOOC Sees Ugandan Oil Production Starting in 2021

Jun 13, 2018

Oil production in Uganda is likely to start in 2021 at the earliest, China's CNOOC said, giving a later date than the government's 2020 target.CNOOC, which is developing the fields in the west of the country with Britain's Tullow Oil and France’s Total…

Shell Feeds Gas to Australia's New Prelude FLNG

Jun 13, 2018

Royal Dutch Shell has introduced gas to its 490 meter (1,600 ft) long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on Wednesday.Gas was fed to the unit from liquefied natural gas (LNG) carrier Gallina…

Oil Prices Ease on China Demand Dip and Rising U.S. Output

Jun 08, 2018

Oil prices fell on Friday as weakening demand in China and surging U.S. output weighed on markets despite supply woes in Venezuela and Iran on top of OPEC's production cuts.Brent crude futures fell 45 cents to $16.87 a barrel by 1333 GMT. U…

Coal Soars on Rising Demand from Asia

Jun 07, 2018

Coal prices in Asia are being driven to multi-year highs by a rare combination of simultaneous demand growth in the region's top four importers.Depending on the price used, thermal coal is either close to a two-year high or near the strongest in six years as China…

Venezuela Frees Chevron Executives Held Since April

Jun 07, 2018

Venezuela has released two local executives of U.S. oil major Chevron Corp jailed since mid-April during a corruption probe in the oil sector, authorities and the company said on Wednesday. The arrests of Carlos Algarra and Rene Vasquez…

New LNG Contract Framework to Spur 'Oil-like' Trading Model

Jun 07, 2018

Introduction of GTC contracts could spur trading, cut costs; traders say existing system inefficient and tedious. A new umbrella contract meant to streamline trading of liquefied natural gas (LNG), bogged down in red tape and wrangling over terms…

Crude Stocks Unexpectedly Rise; Gasoline Also Builds - EIA

Jun 06, 2018

U.S. crude stocks rose surprisingly last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday.Crude inventories rose by 2.1 million barrels in the week to June 1…

Phoenix Petroleum, CNOOC Partner for LNG Terminal

Jun 05, 2018

Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines…

Cheniere's U.S. LNG Outage Spurs European Reload Activity to Asia

Jun 05, 2018

Cheniere Energy, dealing with an ongoing partial outage at its Sabine Pass liquefied natural gas (LNG) plant in Louisiana, is making use of its idle tankers to pick up LNG in Europe for sale in Asia where prices are surging, traders said.Feedgas…

East China LNG Terminal Records 93% Sales Increase

Jun 04, 2018

A liquefied natural gas (LNG) import terminal in east China operated by China National Offshore Oil Company, or CNOOC, recorded an increase of 93 percent in gas sales in the first five months of this year, the state oil company said on Monday…

Current News

Oil Falls on Skepticism over Trump's Saudi-Russia Output Deal

Oil Falls on Skepticism over Trump's Saudi-Russia Output Deal

Energean Power FPSO Hull Leaves China

Energean Power FPSO Hull Leaves China

Woodside Gets OK for Scarborough Proposal

Woodside Gets OK for Scarborough Proposal

CNOOC Transfers Pipeline Infrastructure to PipeChina

CNOOC Transfers Pipeline Infrastructure to PipeChina

Petronas Charters Alam Maritim AHTS

Petronas Charters Alam Maritim AHTS

Aker Energy Delays Ghana Offshore Project 'Indefinitely'

Aker Energy Delays Ghana Offshore Project 'Indefinitely'

Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever

Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever

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