Pipeline technology company STATS (UK) Ltd increased profits by 65 percent to £4.3 million ($6 million) while maintaining revenues of £30 million, ($41 million) according to its latest annual accounts lodged at Companies House.The accounts to December 31…
Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for $0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations…
U.S. supplies to Europe set for all-time high in April; on course to overtake Russia, Saudi. As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude…
Russia committed to cuts until end of year as 2018 demand looks strong (Goldman Sachs). Oil prices fell on Friday after U.S. President Donald Trump criticised OPEC and said oil prices were artificially high, but they were still set for a weekly gain…
The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The…
BP to reduce CO2 emissions by 3.5 mln tonnes per year by 2025 even as it plans to sharply increase oil and gas output in coming years. BP said on Monday it will keep carbon emissions flat over the decade to 2025 even as its oil and gas ouput is set to grow…
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from rivals who have benefited from higher oil prices. U.S.…
Trade dispute between U.S./China unsettles markets as U.S. drillers add 11 rigs drilling for new oil. Oil markets stabilised on Monday after having lost around 2 percent last Friday as concerns grew over the impact on global growth from…
Trump threatens tariffs on $100 bln more of China trade. Oil prices fell on Friday after U.S. President Donald Trump's threat of new tariffs on China reignited fears of a trade war between the world's two biggest economies. Trump said on Thursday he had ordered U…
Reliance Industries Ltd said on Tuesday its unit would sell some of its shale assets in the United States to privately held Sundance Energy Inc for $100 million, as the Indian oil-to-telecom conglomerate moves closer to exit U.S. shale investments…
The Trump administration's planned steel tariffs and a potential trade battle with China could hurt U.S. liquefied natural gas companies just as a new wave of developments in the fast-growing market is gaining steam, company executives say. China is the fastest growing major buyer of LNG…
The market narrative consuming crude oil markets currently is the interplay between supply cuts by OPEC and its allies and rising U.S. shale output, with a side helping of Chinese imports driving demand. While there are solid reasons for industry participants to focus on these dynamics…
IEA sees 2018 global oil demand increasing by 1.5 mln bpd. Oil prices were set for a weekly drop despite a slight gain in both benchmarks on Friday, on concerns that rising global supply could undermine efforts by OPEC and other producers to tighten the market…
The latest Australian Bureau of Statistics (ABS) exploration data confirms that the slump in petroleum exploration in Australia continues. “Yesterday, the ABS released data for 2017, confirming that exploration in Australia is stalled. Exploration expenditure is well below trend…
IEA sees strong global oil demand growth to 2023. Oil rose on Tuesday, paring earlier losses after South Korea said it would hold a summit with North Korea for the first time in more than a decade, which investors took as a cue to sell the U…
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