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Venezuelan PDVSA's Exports Sink in June
Venezuelan PDVSA's oil exports declined 32 percent in the first half of June compared with May, according to internal trade reports from the state-run company, following seizures of some Caribbean assets that disrupted crude and fuel shipments.PDVSA exported 765,000 barrels per day (bpd) in the first two weeks of June…
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Hess Warns Focus on Returns Now Will Hurt US Shale Long-term
Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale executive said on Thursday.Shareholders have been pushing for more dividends and buybacks from U.S.
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TWMA Acquires US Service Company
TWMA, provider of specialized drilling waste management services, has announced its acquisition of US-based Dynamic Oilfield Services in an eight-figure deal. The move comes as TWMA continues to implement an ambitious growth strategy, with internationalization and service diversity at its heart.
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Oil Falls as OPEC Nears Deal to Raise Production
Oil prices fell on Thursday as crude exporters in OPEC appeared to be nearing a deal to increase production.Benchmark Brent crude dropped $1.80 a barrel, or 2.4 percent, to a low of $72.94 before recovering a little to $73.30, down $1.44, by 1358 GMT. U.S. light crude was 71 cents…
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OPEC Agrees to Modest Oil Supply Hike
OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to help reduce the price of crude and avoid a supply shortage.However, the decision confused some in the market as OPEC gave opaque targets for the increase…
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Enterprise Expects to Load First Supertanker at Texas Port This Month
Seaway Crude Pipeline Company LLC, a joint venture between Enterprise Products Partners LP and Enbridge Inc, plans to load its first supertanker this
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U.S. Oil Stocks Fall Sharply, Product Inventories Rise
U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose…
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Oil Slips On U.S./China Trade Dispute, OPEC Supply Outlook
Oil fell on Tuesday ahead of a possible increase in OPEC crude supply, and as an escalating trade dispute between the United…
Latest news
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Storage Tank at Libya's Ras Lanuf Oil Port Has Collapsed
One of two oil storage tanks ignited amid clashes at the Libyan oil port of Ras Lanuf has collapsed after burning for two days…
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Scottish Government Wins Fracking Case Against Ineos
Scotland's highest court has ruled in favor of a government ban on fracking which had been challenged by energy giant Ineos…
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Oil Rises Ahead of OPEC, Pressured by China Tariffs
Oil prices rose on Monday ahead of an OPEC meeting this week and as investors assessed the impact of a trade dispute between…
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SandRidge Says Approached by 17 Potential Buyers, Including Icahn
SandRidge Energy Inc said on Friday it had been approached by 17 potential bidders for a buyout, including billionaire Carl…
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Oil Falls $2 a Barrel Ahead of OPEC Meeting
Oil prices fell sharply Friday, with benchmark Brent crude dropping more than $2 a barrel ahead of an OPEC meeting in Vienna…
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No Signs of Oil Shortage After Drop in Spending -BP CFO
BP does not yet foresee a shortfall in oil supplies in the coming years due to a fall in investments across the sector, the…
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Russia's Novak: OPEC+ Can Consider Returning Up to 1.5 mln bpd
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…
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Oil Steadies Ahead of Key OPEC Meeting
Oil prices steadied on Thursday, but still faced pressure from evidence of rising U.S. output and uncertainty over the outlook…
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Phillips 66 to Expand Texas Natural Gas Liquids Project
U.S. oil refiner Phillips 66 said on Wednesday it planned to spend up to $1.5 billion on the expansion of its natural gas liquids project in Sweeny…
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U.S. Crude, Gasoline Inventories Drop Sharply
U.S. crude stocks fell last week as refineries hiked output, while gasoline and distillate inventories dropped, the Energy…
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Top Shallow Water Driller Raises $225 Mln in Oslo IPO
Shelf Drilling, a Dubai-based contractor for shallow water rigs, raised about $225 million by issuing new shares priced at…
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Lukoil, Eni Discussing Possible Swap of Mexico Licences
Lukoil, Russia's second biggest oil producer, is considering swapping licences with Italy's Eni in Mexico, First Deputy Chief Executive Ravil Maganov
Exploration
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Lukoil, Eni Discussing Possible Swap of Mexico Licences
Lukoil, Russia's second biggest oil producer, is considering swapping licences with Italy's Eni in Mexico, First Deputy Chief Executive Ravil Maganov
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Norway Oil Workers Threaten to Strike
Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this su
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ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the…
Drilling
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Top Shallow Water Driller Raises $225 Mln in Oslo IPO
Shelf Drilling, a Dubai-based contractor for shallow water rigs, raised about $225 million by issuing new shares priced at…
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Wellsite Taps Roger as VP of Administration
Drilling and completion rental equipment provider Wellsite Fishing and Rental Services, LLC has promoted Jessica Roger to…
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Equinor Awards Light Well Intervention Contract to Akofs
Akofs Offshore has been awarded a contract for light well intervention services using the Akofs Seafarer vessel for all Equinor…
Production
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OPEC Reaches Deal to Raise Oil Output
OPEC agreed on Friday to raise oil production by around 1 million barrels per day from July for the group and its allies…
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Predictive Software to Optimize FPSO Maintenance
A new test project in Norway looks to employ specialty software for the optimization of floating production storage and offloading…
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OPEC Strives for New Deal as Iran Wary of Output Hike
OPEC's leader Saudi Arabia and Russia were trying on Thursday to convince fellow oil producers to raise output from July to meet rising global demand…
