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Murphy Oil signs $2.13-billion Malaysian divestiture deal

EL DORADO, Ark. -- Murphy Oil Corporation has announced that a subsidiary has signed a sale and purchase agreement to divest the fully issued share capital of its two primary Malaysian subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sar......【More】

2019-03-22

U.S. Refiners Look to get in on shale oil export boom

NEW YORK (Bloomberg) -- U.S. refiners arent just buying crude to turn into gasoline and diesel -- theyre competing with producers and traders to export it. Marathon Petroleum Corp. and Phillips 66 -- two of the three biggest U.S. independen......【More】

2019-03-20

Libya oil boss sees output gain with hope of BP pumping soon

LONDON and CAIRO (Bloomberg) -- Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping oil in the politically divided OPE......【More】

2019-03-19

DTEK Oil & Gas wins Ukraine’s first open auction for subsurface exploration permit

KYIV -- Oil Gas Systems, LLC - a subsidiary of DTEK Oil Gas - has purchased the special permit for subsurface exploration of the Svitankovo-Lohivskyi license site in eastern Ukraine for UAH 85 million ($3.17 million) at open auction. Organi......【More】

2019-03-12

Oil's big reset: Energy majors learn to thrive after price crash

LONDON (Bloomberg) -- When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed. In reality, the giant oil majors suffered most -- burdened by expensive mega-projects, Chevron Corp., BP Plc and the rest str......【More】

2019-03-11

Oil retreats as surprise jump in U.S. stockpiles hints at glut

NEW YORK (Bloomberg) -- Oil retreated for the second day in a row after U.S. crude stockpiles ballooned, casting a shadow over OPECs efforts to avert a global glut. Futures in New York closed 0.6% lower on Wednesday after the U.S. Energy In......【More】

2019-03-07

D&L Oil Tools introduces downhole tension tool for well control

TULSA -- DL Oil Tools introduces the patented ProTension Safe Tension Tool (STT), which was designed as a safety tool to eliminate the potential for loss of well control when pulling a tubing string into tension. Additionally, it allows ope......【More】

2019-03-05

S&P lowers Mexico sovereign outlook to negative on AMLO oil plan

MEXICO CITY (Bloomberg) -- SP Global Ratings lowered its outlook for Mexicos sovereign debt to negative from stable, saying the nations shift to limit private sector involvement in energy could lower economic growth prospects. Other develop......【More】

2019-03-04

Resilient oil sands power Alberta budget through pipeline morass

CALGARY (Bloomberg) -- A relentless increase in production from Albertas oil sands and higher crude prices in the first half of the year are powering the province s budget through a pipeline shortage that has weighed on economic growth. The......【More】

2019-02-28

Marathon oil signs agreement for divestiture of UK business

HOUSTON -- Marathon Oil Corporation has announced the company has entered into a share purchase agreement through its subsidiaries for the sale of its UK businesses Marathon Oil U.K. LLC (MOUK) and Marathon Oil West of Shetland Limited (MOW......【More】

2019-02-26