Industry News|cippe Zhenwei Shanghai Petrochemical Show|ZHENWEI EXPO

AWE, Origin Energy in major gas find in Western Australia

SYDNEY -- AWE Limited, as operator of the L1/L2 JV, has announced initial Contingent Resource estimates for the Waitsia discovery (formerly Senecio Deep) in the north Perth basin, Australia. The news follows the recently announced upgrade o......【More】

2014-09-19

WTI crude falls from 2-week high as U.S. inventories rise

NEW YORK (Bloomberg) -- West Texas Intermediate crude fell from a two-week high after an Energy Information Administration report showed U.S. inventories rose the most in five months. Supplies gained 3.67 MMbbl barrels in the seven days end......【More】

2014-09-18

OPEC may supply less crude in 2015, Secretary General says

ALEXANDER WEBER and GRANT SMITH VIENNA, Austria (Bloomberg) -- OPEC may cut production next year, its Secretary-General Abdalla El-Badri said. The Organization of Petroleum Exporting Countries output target could fall 500,000 bpd to 29.5 MM......【More】

2014-09-17

Weatherford awarded Statoil tubular running services contract

HOUSTON -- Weatherford International has been awarded an exclusive contract with Statoil Petroleum AS valued at $400 million for the delivery of Tubular Running Services on 19 drilling units in Statoils portfolio. This contract has a base p......【More】

2014-09-16

U.S. oil rig count at 1,592 sets record on drilling in Bakken to Permian

HOUSTON (Bloomberg) -- Rigs targeting oil in the U.S. surged to a record as producers accelerated drilling in some of the nations biggest crude plays, from North Dakotas Bakken formation to the Permian basin of Texas and New Mexico. Oil rig......【More】

2014-09-15

Saudi Arabia’s Naimi says OPEC meeting can wait as oil slumps

KUWAIT (Bloomberg) -- Saudi Arabia, the worlds biggest crude exporter, said OPEC doesnt need to meet on possible measures to check falling oil prices, according to the kingdoms oil minister Ali Al-Naimi. Prices always fluctuate and this is......【More】

2014-09-12

WTI crude tumbles to an eight-month low at $91.67

NEW YORK (Bloomberg) -- West Texas Intermediate oil fell to an eight-month low after U.S. crude stockpiles fell less than analysts projected in a government report. Brent dropped to the least since April 2013. Crude inventories fell 972,000......【More】

2014-09-11

Brent crude falls to lowest in 17 months on ample supply

LONDON (Bloomberg) -- Brent crude dropped to the lowest level in almost 17 months, narrowing its premium over West Texas Intermediate, on concern global supply growth will outpace demand. The European benchmark settled below $100 for the fi......【More】

2014-09-10

Linc Energy to drill 3 wells in Australia’s Arckaringa shale

BRISBANE, Queensland -- Linc Energy has commenced operations as part of its three well drilling program in the Arckaringa basin in South Australia. The three well locations have been selected following a lengthy and ongoing field appraisal......【More】

2014-09-05

Libya’s former rebels to keep oil flowing amid Islamist surge

BENGHAZI (Bloomberg) -- The group that controls Libyas largest oil port pledged to work with the government to keep crude flowing to international markets and defend oilfields against any advance by Islamist militias that seized Tripoli, th......【More】

2014-09-04