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US Rig Count Climbs

Apr 05, 2019

U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks after oil futures soared nearly 40 percent this year.Companies added 15 oil rigs in the week to April 5, the biggest increase since May…

Petrobras Takes Two of Six Port Terminals in Brazil Auction

Apr 05, 2019

Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450…

U.S. Crude Stocks Rise by 7.2 mln barrels - EIA

Apr 03, 2019

U.S. crude stocks rose unexpectedly last week as imports climbed, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 7.2 million barrels in the last week…

Prospective Bidders for Eneco Narrows

Apr 03, 2019

The field of prospective bidders for Dutch energy company Eneco has narrowed as initial interest from big electricity players including France's Engie and Austria's Verbund has fizzled out, sources close to the matter said.The 53 municipalities that currently own Eneco…

Oil Hovers Near Five-Month Highs

Apr 03, 2019

Oil prices steadied on Wednesday after Brent pushed towards a nearly five-month high of $70 a barrel on OPEC-led supply cuts and U.S. sanctions, with gains capped by a surprise increase in American inventories.Brent futures had moved up 24 cents…

Oil Prices Slip

Mar 27, 2019

Oil prices edged lower on Wednesday after government data showed U.S. crude stocks unexpectedly rose last week, though disruptions to Venezuela's crude exports limited losses.Brent crude futures lost 1 cent to $67.96 a barrel at 10:48 a.m. EST (1448 GMT)…

Sinopec to Develop Weirong Shale Gas Field

Mar 25, 2019

Sinopec Corp, China's biggest shale gas operator, said on Monday it plans to develop a new field this year able to produce 1 billion cubic meters (bcm) of shale gas annually.The state-run company said the field will tap a proven reserve equivalent to 124…

Exxon, Chevron Accelerate Shale Production

Mar 25, 2019

The two biggest U.S. oil companies Chevron and ExxonMobil plan to significantly ramp up production in the US shale heartland as the oil behemoths are seeking to go from shale to scale in the Permian.Rystad Energy’s shale team analysed as to…

US Rig Cuts Continue

Mar 22, 2019

U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output…

Oil Majors Rush to Dominate US Shale

Mar 20, 2019

In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.Workers at its Remuda lease near Carlsbad - part of a staff of 5…

Mexico to Invite 4 Firms to Bid on Pemex Oil Refinery

Mar 18, 2019

The Mexican government will invite four companies to bid in a restricted tender for work building the new Dos Bocas refinery for state oil company Pemex, Energy Minister Rocio Nahle said at a news conference on Monday.Dos Bocas would be Pemex's…

US Rig Count Lowest Since April 2018

Mar 15, 2019

U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts.Drillers cut one oil rig in the week to March 15…

Large Oil Firms Invest in Shale

Mar 13, 2019

Oil majors are readying themselves for the energy transition by investing in shale and waiting for renewable technology to be economical, said Rystad Energy, energy research and business intelligence company.A recent review of 2019 capital budgets…

U.S. Drillers Cut Rigs to Lowest Level since May

Mar 08, 2019

U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more.Drillers cut nine oil rigs in the week to March 8…

Oil Drops 3 pct, U.S. Supply Surges

Mar 08, 2019

Oil prices fell about 3 percent on Friday and were set for a second straight week of declines after disappointing U.S. job growth revived concerns about a slowing global economy and weaker demand for oil.With surging U.S. oil supply also unsettling markets…

Current News

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Shell's Jack-Up Rig of the Year Award Goes to Maersk Convincer

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Oil Prices Drop To Lowest In a Year

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Coronavirus  Delays Three Indonesian LNG Cargoes to China

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Bumi Armada to Appeal Ruling in FPSO Case with Woodside

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Iran to Boost Gas Output Capacity with New Offshore Platform

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Saipem in Saudi JV Push

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Lebanon Set to Spud Its First Offshore Well

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