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NEWS |
Oil prices hit three-month high as Brent oil chases best first quarter in eight years
A rise in global oil prices has petered out after briefly reaching a three-month high this morning.
NEWS |
London-based oil and gas independent makes progress off Scotland
NORTH Sea-focused Rockrose Energy has seen its shares surge around 10 per cent after the company said the lives of two fields had been extended for five years as it hunts for acquisitions in the area.
NEWS |
Oil hits 2019 highs amid OPEC cuts, partial Saudi field outage
Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by OPEC-led supply cuts and a partial shutdown of Saudi Arabia’s biggest offshore oil field.
NEWS |
BP CEO Bob Dudley warns oil market uncertainty could lead to a 'real crunch'
A flurry of intensifying risks could trigger an energy market "crunch" over the coming months, according to the chief executive of BP.
NEWS |
OPEC cuts 2019 oil demand forecast on global slowdown
OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it star (...)
NEWS |
Oil heads for weekly loss as slowdown worries outweigh supply cuts
Oil markets inched down on Friday and were heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provid (...)
NEWS |
Oil prices drop on rising US crude supply, but OPEC cuts support
Oil prices fell on Thursday after U.S. crude inventories rose and the country’s production held at record levels, but OPEC-led supply cuts and Washington’s sanctions against Venezuela supported market (...)
NEWS |
UK Oilfield Sector Sees Turnover and Margin Decline
The UK’s oilfield services (OFS) sector experienced another challenging year in 2017, with turnover for OFS companies declining by 9% and EBITDA margin falling by 2.2 percentage points – the largest f (...)
NEWS |
Five reasons why Venezuela crisis to significantly affect oil market
The political crisis in Venezuela did not generate - so far at least - a significant rise of oil prices on world markets, Francis Perrin Senior Fellow at the Policy Center for the New South (Rabat) an (...)
NEWS |
Shipping and the Oil & Gas Industry
The shipping sector connected with the oil and gas industry is in for an interesting year in 2019.
NEWS |
Egypt aims to be a Mediterranean energy hub
Energy demand in Egypt has been rising in recent years. Yet, oil production in Africa’s largest non-OPEC producer has been declining.
NEWS |
BP’s CEO sees oil demand growth despite economic fears
BP expects solid oil demand growth in 2019 despite growing concerns about a global economic slowdown, CEO Bob Dudley said Tuesday.
NEWS |
New Contract With Repsol Sinopec Sees Peterson Handle Record Tonnage Across Its Aberdeen Operations
International energy logistics provider Peterson has been awarded a new long-term integrated logistics contract to service Repsol Sinopec Resources UK (“Repsol Sinopec”).
NEWS |
Oil prices continue to rise amid declining US rig count
Oil prices continued to increase during the week ending Jan.18, with the price of West Texas Intermediate (WTI) for February delivery up by 4.3 percent and Brent crude for March delivery up by 3.7 per (...)
NEWS |
Oil reaches 2019-high on strong China crude use, but economic slowdown looms
Crude prices rose to their highest so far in 2019 on Monday after data showed refinery processing in China, the world’s second-largest oil consumer, climbed to a record last year despite a slowing eco (...)
NEWS |
Oil up on OPEC output cuts, hopes of easing U.S.-China trade tensions
Oil prices rose on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.
NEWS |
Oil firm as supply cuts point to tighter market despite weakening economy
Oil prices firmed on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown.
NEWS |
Repsol Sinopec not budging on three week rotas
North Sea oil firm Repsol Sinopec Resources UK (RSRUK) has opted to stick with three week offshore rotas on its platforms after concluding a review.
NEWS |
Winners and Losers in Big Oil's Offshore Spending Revival
After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them e (...)
NEWS |
Oil And Gas Industry Will Be On Steady Footing In 2019 Despite Oversupply Risks
If recent market evidence is anything to go by, oil and natural gas prices will remain volatile in 2019. However, there is much to suggest that the industry has the potential to overcome short-term ch (...)
NEWS |
Adnoc among top 10 oil and gas firms worldwide, new ranking finds
State-owned Abu Dhabi National Oil Company is among the top 10 most influential companies and organisations in the energy sector, a new ranking from research and intelligence firm GlobalData found.
NEWS |
Oil prices surge 5%
Oil prices reversed course and turned sharply higher in mid-morning trade yesterday.
NEWS |
The last time oil did this, it surged 80 percent
Crude oil could be on the verge of a big comeback. Since surging to four-year highs in October, the commodity has plummeted 39 percent down to levels not seen since mid-2017.
NEWS |
OPEC-led cuts should rebalance oil market in first quarter: UAE energy minister
The OPEC-led deal to cut 1.2 million b/d from the start of January should bring balance back to the oil market in the first quarter of 2019, the UAE's energy minister Suhail al-Mazrouei said Tuesday.
NEWS |
OPEC+ Caps Prove No Barrier to Record Russian Oil Output in 2018
Russia’s oil production reached a post-Soviet high last year even as it coordinated supply with the Organization of Petroleum Exporting Countries (OPEC).
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