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OPEC unshackled from quota could add millions of barrels in 2016

VIENNA, Austria (Bloomberg) -- OPECs new free-for-all production stance could lift the lid on millions of barrels of additional crude supply next year. Everyone does whatever they want now that the Organization of Petroleum Exporting Countr......【More】

2015-12-08

OPEC maintains crude production as group defers output target

VIENNA, Austria (Bloomberg) -- OPEC will maintain production at current levels and refrained from setting an official output target, a continuation of the Saudi Arabian-led policy thats driven prices to a six-year low. The Organization of P......【More】

2015-12-07

U.S. demand for oilfield chemicals to exceed $10 billion in 2019

CLEVELAND, Ohio -- U.S. demand for oilfield chemicals is forecast to increase to $10.3 billion in 2019, with healthy growth overcoming declines expected in 2015 and 2016. Although low oil prices in 2015 have led to sharp reductions in explo......【More】

2015-12-04

Texas EOR Associates licenses new EOR technologies

DALLAS, Texas -- Texas EOR Associates, a developer of enhanced oil recovery (EOR) technologies and opportunities, has licensed exclusive U.S. waterflood, fracing and gas injection-EOR rights to patented oil flow optimization technologies ba......【More】

2015-12-03

Oil steadies after worst month since July, as OPEC members gather

NEW YORK (Bloomberg) -- Oil was little changed after its biggest monthly decline since July as OPEC ministers arrive in Vienna ahead of this weeks policy meeting. West Texas Intermediate futures swung between gains and losses. Saudi Arabia......【More】

2015-12-02

Iran gives investors glimpse of $30 billion in oil deals

TEHRAN, Iran (Bloomberg) -- Iran is targeting about $30 billion in investment by offering 70 oil and natural gas projects to international companies as the Persian Gulf country anticipates the lifting of economic sanctions. Iranian official......【More】

2015-12-01

Oil pares weekly advance as global supply glut seen growing

NEW YORK (Bloomberg) -- Oil pared its first weekly gain in a month on signs the global surplus will expand and as the dollar increased, reducing demand for commodities as an investment. Futures fell 3.1% in New York. The U.S. currency rose......【More】

2015-11-30

Aker Solutions wins BP contract for work offshore Norway

OSLO -- Aker Solutions won a framework agreement to provide maintenance and modifications services at BP-operated oil and gas fields offshore Norway. The contract has a fixed period of five years valued at as much as NOK 3.2 billion. It als......【More】

2015-11-27

Crude storage tanks nearing their brim spur ‘super contango’

NEW YORK (Bloomberg) -- Surging U.S. crude stockpiles that have filled storage tanks near capacity are widening the discount on immediate oil deliveries. Spreads between monthly oil-futures contracts are often seen as a reliable gauge of ma......【More】

2015-11-26

Global oil job cuts top quarter-million as rigs at five-year low

HOUSTON (Bloomberg) -- The number of jobs gutted from oil and gas companies around the world has now passed the 250,000 mark, with still more to come, according to industry consultant Graves Co. I was surprised its gotten this far, John Gra......【More】

2015-11-23