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Anadarko’s Walker: Oil won’t move past $60/bbl before 2020, industry needs NAFTA

HOUSTON -- Crude oil prices have varied widely in the past year, and Anadarko CEO Al Walker doesnt think prices will extend beyond the $50-$60/bbl range before the end of the decade. Walker shared his opinions on the current state of the oi......【More】

2017-05-19

Petrobras posts net income of $1.4 billion in first quarter 2017

RIO DE JANEIRO -- Petrobras net income was R$4.4 billion in first quarter 2017, reversing the loss recorded in the same period of last year. This result reflects the companys outstanding operating performance, despite lower demand for oil p......【More】

2017-05-17

U.S. firm to construct oil, gas filter plant for Iran: report

TEHRAN, May 11 (Xinhua) -- The U.S. Pall Corporation has reached an agreement with the Iranian Panid Engineering Co. to build a plant for manufacturing filters for Irans oil industry, Tehrans Financial Tribune daily reported on Thursday. Ta......【More】

2017-05-16

Extension of oil output reduction pact likely for 6 months or more: Russian energy minster

MOSCOW, May 13 (Xinhua) -- An agreement on oil output cuts reached by major oil-producing countries is likely to be extended for another six months or even longer, Russian Energy Minister Alexander Novak said Saturday. Members of the Organi......【More】

2017-05-15

Former OPEC member's Byzantine rules seen shooing away explorers

JAKARTA (Bloomberg) --Red tape, rising costs and declining crude prices are throttling exploration in Indonesia, the former OPEC member that now produces less oil than it uses. Only 20% of the 287 onshore rigs operated bycontractors for loc......【More】

2017-05-12

TDI-Brooks International to perform site survey in the Caribbean

COLLEGE STATION -- TDI-Brooks International, Inc. has been selected to perform three site surveys and an Environmental Baseline project in the Caribbean. Two well sites are at a depth of approximately 140 m and a third well site lies in 650......【More】

2017-05-11

Exxon, Petrobras said to hold talks on strategic partnership

RIO DE JANEIRO (Bloomberg) --Exxon Mobil Corp. and Petrobras have held talks on a strategic partnership that could involve multiple assets in Brazil and overseas in different segments of the industry, similar to the $2.2-billion deal signed......【More】

2017-05-10

Venezuela braces for possible U.S. oil sanctions

HOUSTON (Bloomberg) --Venezuela would be hit from two directions if the U.S. were ever to impose oil-related sanctions against the South American nation where at least 30 have died in anti-government protests in the past month. American dri......【More】

2017-05-09

Iran buys gear to shield gas output from any new U.S. sanctions

TEHRAN (Bloomberg) --Iran is buying equipment to avert a possible disruption in output at its share of the worlds biggest natural gas field, in the event the U.S. decides to impose additional sanctions on its economy, thehead of state-run o......【More】

2017-05-08

No decision made by Russia on extending oil output cut: Kremlin

MOSCOW, May 4 (Xinhua) -- Russia has not yet decided to extend the Vienna agreement on oil output reduction into the second half of 2017, the Kremlin said Thursday. No decisions have been made yet. If the position is formulated, we will inf......【More】

2017-05-05