Monday, January 20, 2020

Oil Facilities News

Oil Hits $70 a Barrel

© Pavel Ignatov / Adobe Stock

Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike…

Oil Jumps After US Kills Iran's Soleimani

© qiujusong / Adobe Stock

Oil prices jumped more than $3 on Friday after a U.S. air strike in Baghdad ordered by President Donald Trump killed the head of Iran's elite Quds Force, sparking concerns for an…

Offshore: OSV Market Report

Photo courtesy Ulstein Group/Marius Beck Dahle

The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices…

Saudi Aramco Sets Record $25.6 Bln IPO

(Photo: Saudi Aramco)

State-owned oil giant Saudi Aramco's initial public offering (IPO) will be the biggest in history, but will fall short of the towering $2 trillion valuation long sought by Crown…

Timeline: Saudi Aramco's Winding Road to IPO

(Photo: Saudi Aramco)

State-run oil giant Saudi Aramco has priced its initial public offering (IPO) at the top of its indicative range, making it the world's biggest flotation by raising more than Alibaba's…

Saudi Aramco Kick-starts IPO

(Photo: Saudi Aramco)

Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be…

U.S. Shipping Sanctions Give Boost to EU Refiners

Exxon's Rotterdam Refinery (CREDIT EXXON)

U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east…

US Crude Exports Expected to Double by 2022

Graph: Rystad Energy

The U.S. could see its crude oil exports nearly double by 2022, according to energy research firm Rystad Energy. US crude exports could grow from current levels of 2.9 million barrels…

Oil Falls 1% on Surprise U.S. Crude Build, Saudi Crude Output

© kittikorn14 / Adobe Stock

Oil shed more than 1% on Wednesday, logging a second straight day of losses after U.S. crude stockpiles unexpectedly rose and as Saudi Arabia maintained a faster-than-expected recovery…

Saudi Aramco Pursues IPO Planning Despite Attack

Saudi Aramco president and CEO 
Amin H. Nasser (Photo: Saudi Aramco)

Saudi Aramco is pressing ahead with its listing plans this week, although some investors and analysts doubt it can now meet its timeline as it has not said when oil output will…

Middle East Risks Keep Oil Prices High

Oil prices have risen massively following the recent attacks on Saudi oil refining facilities – the US has responded by authorizing the release, if necessary, of emergency crude oil stocks to ease price pressures. (Photo © Adobe Stock / Douglas Knight)

Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on…

Oil Soars 10%

© viking75 / Adobe Stock

Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper…

Battered U.S. Oil Producers Soar on Saudi Attacks

Photo: Exxon Mobil

Shares of U.S. oil and gas companies surged on Monday, as a jump in oil prices in the wake of attacks on Saudi Arabia's oil facilities drove a relief rally in one of the S&P 500's…

Aramco Suspends 50% of Production

Amin H. Nasser. Photo: Saudi Aramco

Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco…

Oil Rises as U.S. Sanctions on Iran Squeeze Supply

© Pam Walker / Adobe Stock

Oil prices rose about $1 a barrel on Tuesday as U.S. sanctions squeezed Iranian crude exports, tightening global supply despite efforts by Washington to get other producers to increase…

Gunmen Attack Headquarters of Libya's State Oil Firm

Several armed men attacked the headquarters of Libya's National Oil Corporation (NOC) in the capital Tripoli on Monday, killing at least two oil staff, a security official said.In…

Key Oil Export Terminals Reopen in Libya

Damage at Ras Lanuf terminal June 18, 2018 (Photo: NOC)

Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down…

Oil Tight on Libyan Port Struggles

Image:  © cherezoff/Adobe Stock

Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions…

Struggle to Control Libyan Oil Ports Adds to Global Supply Worries

Libyan oil production could face protracted disruption as factions in the east have sought to seize control of crude exports, adding pressure to a tight global market.Eastern factions…

Niger Delta Avengers: Attacks Against Nigeria's Oil Sector Coming

Nigerian militant group Niger Delta Avengers said on Wednesday it will launch attacks on the country's oil sector in the next few days. "This round of attacks will be the most deadly…