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Live Oil Discovered Onshore Jamaica

Feb 20, 2018

CGG GeoConsulting and Petroleum Corporation of Jamaica Announce First Reported Discovery of Live Oil Onshore Jamaica. CGG GeoConsulting and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of the island of Jamaica…

India's Oil Imports Reach Record High in January

Feb 15, 2018

India imported a record 4.93 million barrels of oil per day (bpd) in January to feed its expanded refining capacity and meet rising demand, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed…

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…

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…

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…

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…

China Rebuffs U.S. Criticism of its Venezuela Ties

Feb 05, 2018

China's support for Venezuela has benefited ordinary people and been broadly welcomed, the foreign ministry said on Monday after the U.S. Treasury accused China of aiding Venezuelan President Nicolas Maduro's government with murky oil-for-loan investments…

Greenpeace Appeals after Losing Norwegian Arctic Lawsuit

Feb 05, 2018

Environmental groups launched an appeal on Monday after an Oslo court rejected their arguments that Norway's oil and gas exploration in the Arctic violates citizens' right to a clean environment. Greenpeace and Nature and Youth disputed the Oslo District Court's verdict last month…

Exxon, Chevron Shares Plunge

Feb 02, 2018

Exxon Mobil Corp and Chevron Corp posted rare quarterly earnings misses on Friday as cost cuts and rising oil prices failed to offset weakness in international refining operations, sending shares of both companies plunging. Investors were…

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Keppel working on 3D-Printed Offshore Grade Steel

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