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US plans to study petroleum reserve.

Wednesday, October 29, 2014    No comments

US plans to study petroleum reserve. US officials will examine how to boost efficiency of the Strategic Petroleum Reserve (SPR) now that domestic energy production is booming, according to a letter from a Department of Energy official."DOE believes...

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Oil slump yet to hit US shale production.

Wednesday, October 22, 2014    No comments

Oil slump yet to hit US shale production. The vast majority of shale oil in the US is produced at costs far below the current price of crude, the...

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In oil price war, Saudi's biggest rival is next door.

Wednesday, October 22, 2014    No comments

In oil price war, Saudi's biggest rival is next door. Kuwait, Saudi Arabia's traditional Gulf ally, is challenging its bigger neighbour in an increasingly competitive battle for market share as it sells oil to buyers in Asia at the widest discount to a comparable Saudi grade...

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Exxon sees disruption.

Thursday, October 16, 2014    No comments

Exxon sees disruption. Oct 12th 2014, 23:00 ExxonMobil Corp has seen some of its oil and gas...

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US billionaire eyeing energy sector.

Wednesday, October 15, 2014    No comments

US billionaire eyeing energy sector. US billionaire investor Wilbur Ross is looking at investing...

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BP awards contracts in Oman.

Wednesday, October 15, 2014    No comments

BP awards contracts in Oman. BP said it has awarded two drilling contracts worth $730 million for the development of its Oman's Khazzan tight gas...

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Exxon cuts Rosneft ties.

Saturday, October 11, 2014    No comments

Exxon cuts Rosneft ties. US oil giant ExxonMobil is suspending cooperation with Russia's state-owned...

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Oil price forecasts cut, to stay subdued.

Friday, October 10, 2014    No comments

Oil price forecasts cut, to stay subdued. Oct 5th 2014, 23:00...

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US oil could step in if Mideast fields hit.

Thursday, October 02, 2014    No comments

US oil could step in if Mideast fields hit. If US-led attacks knock out oil fields controlled by Islamic State militants, petroleum from the American...

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US plans to study petroleum reserve.


US plans to study petroleum reserve.


US officials will examine how to boost efficiency of the Strategic Petroleum Reserve (SPR) now that domestic energy production is booming, according to a letter from a Department of Energy official."DOE believes that a broad, long-range strategic review of the SPR needs to be accomplished," Christopher Smith of the DOE Office of Fossil Energy, wrote to the Government Accountability Office. In...
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Oil slump yet to hit US shale production.


Oil slump yet to hit US shale production.


The vast majority of shale oil in the US is produced at costs far below the current price of crude, the head of the west's energy watchdog said, which means US projects can withstand the market slump squeezing other producers.Brent oil stands at around $88 per barrel, down more than 23 per cent from the year's peak above $115 in June, raising concern that some shale oil projects will become...
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In oil price war, Saudi's biggest rival is next door.


In oil price war, Saudi's biggest rival is next door.


Kuwait, Saudi Arabia's traditional Gulf ally, is challenging its bigger neighbour in an increasingly competitive battle for market share as it sells oil to buyers in Asia at the widest discount to a comparable Saudi grade in 10 years.Kuwait's price cut to Asia, and cuts by other Middle East producers including Saudi Arabia and Iraq, have underscored competition for oil sales to the region as a...
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Exxon sees disruption.


Exxon sees disruption.
Oct 12th 2014, 23:00

ExxonMobil Corp has seen some of its oil and gas activities in West Africa disrupted by the Ebola outbreak, including plans to drill offshore Liberia, the company's chief executive officer said.Exxon, the world's largest publicly traded oil company which has operations in Nigeria and Liberia, is prohibiting some employees from traveling to the countries directly affected by the disease, and is...
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US billionaire eyeing energy sector.



US billionaire eyeing energy sector.

US billionaire investor Wilbur Ross is looking at investing in the Canadian and US energy sectors, betting a long-term recovery in oil prices will boost the fortunes of small and mid-cap companies whose shares have been battered since June.Ross, who made his name by snapping up out-of-favour assets ranging from banks to textile firms, told Reuters he is in the early stages of assessing...
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BP awards contracts in Oman.



BP awards contracts in Oman.

BP said it has awarded two drilling contracts worth $730 million for the development of its Oman's Khazzan tight gas project, it said.It said it has awarded work worth more than $400 million to KCA Deutag for the construction and operation of five land rigs for Khazzan and a $330 million contract to Oman's Abraj Energy Service for the supply of three drilling rigs for the full field...
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Exxon cuts Rosneft ties.



Exxon cuts Rosneft ties.

US oil giant ExxonMobil is suspending cooperation with Russia's state-owned company Rosneft on offshore drilling in the Arctic due to sanctions, the daily Kommersant reported, citing unnamed sources.Rosneft and its head Igor Sechin were among the targets of the sanctions, imposed over Moscow's role in the Ukrainian conflict, which has claimed the lives of more than 3,000 people.Rosneft said it...
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Oil price forecasts cut, to stay subdued.






Oil price forecasts cut, to stay subdued.
Oct 5th 2014, 23:00

Energy analysts have made the largest downward revision to their oil price forecasts in almost two years, a monthly Reuters poll showed, with the marked weakness in the price of Brent seen persisting into 2015.The survey results pose a challenge to members of the Organization of the Petroleum Exporting Countries (Opec), who have largely argued prices will recover from two-year lows hit below...
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US oil could step in if Mideast fields hit.



US oil could step in if Mideast fields hit.

If US-led attacks knock out oil fields controlled by Islamic State militants, petroleum from the American drilling boom could make up for any shortfall on global markets, a report released by a Republican senator said.US bombs blasted Islamic State positions in Syria for a second day. Militants have been funding their efforts in part by seizing a dozen or so oilfields in Syria and Iraq,...
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