LOCATION :Home> Industry News

China seen sustaining strong crude imports

SHANGHAI (Bloomberg) -- Chinas crude imports will rise further from a record this year to feed its expanding refining sector and strategic reserves, according to Standard Chartered Bank. The nations average crude imports will rise by as muc......【More】

2016-03-28

OFSCap acquires The Oil and Gas Asset Clearinghouse

HOUSTON -- OFSCap, LLC, today announced that its affiliate, OFSCap Acquisition, LLC, has acquired The Oil and Gas Asset Clearinghouse from CenterGate Capital. Clearinghouse markets oil and gas properties and, since its inception, has sold o......【More】

2016-03-25

Oil price declines as U.S. crude stockpile gain adds to glut

WASHINGTON, D.C. (Bloomberg) -- Oil maintained its decline after a U.S. government report showed rising crude stockpiles kept supplies at the highest level in more than eight decades. Crude inventories rose 9.36 MMbbl last week, according t......【More】

2016-03-24

Liebherr to deliver crane for Lukoil's Caspian Sea operations

ROSTOCK, Germany -- Liebherr-Russland and Lukoil-Nizhnevolzhskneft have signed a new contract for the delivery of a Liebherr RL 1500-30 EX Litronic offshore crane, which is to start operations on a satellite platform at Ju. Korchagin oil an......【More】

2016-03-23

BSEE assists in opening oil spill response test burn tank

WASHINGTON, D.C. -- The Bureau of Safety and Environmental Enforcement (BSEE) helped oversee and execute a series of test in situ burns​​ in the newly opened burn tank at the Joint Maritime Test Detachment in Mobile, Ala., to evaluate b......【More】

2016-03-22

U.S. Steel to idle two plants, cut up to 770 jobs amid oil price rout

PITTSBURGH, Pennsylvania (Bloomberg) -- U.S. Steel Corp., the countrys second-biggest producer of the metal, said it will dismiss as many as 770 workers and idle two plants that make products used in oil drilling as energy companies cut pro......【More】

2016-03-21

Oil investers see $7.4 billion vanish as dividends are targeted

NEW YORK (Bloomberg) -- The check is not in the mail. Bludgeoned by falling energy prices, at least a dozen oil and natural gas companies have opted to cut dividends this year to preserve cash, cannibalizing payouts considered sacrosanct by......【More】

2016-03-18

Oil holds gains on less-than-projected U.S. inventory rise

NEW YORK (Bloomberg) -- Oil maintained gains after a government report showed a smaller-than-anticipated U.S. crude inventory increase. Crude inventories rose 1.32 MMbbl to 523.2 MMbbl last week, according to the Energy Information Administ......【More】

2016-03-17

Iran may join oil freeze after boosting output, Russia says

TEHRAN (Bloomberg) -- Iran may join other oil suppliers in freezing production after restoring its own output to levels before sanctions were imposed, Russian Energy Minister Alexander Novak said after meeting with the Persian Gulf nations......【More】

2016-03-15

Iran on oil freeze: ‘Leave us alone' until output higher

TEHRAN (Bloomberg) -- Iran plans to boost crude output to 4 MMbpd before it will consider joining other suppliers in seeking ways to rebalance the global oil market. They should leave us alone until then, Oil Minister Bijan Zanganeh said, a......【More】

2016-03-14