Industry News|cippe Zhenwei Shanghai Petrochemical Show|ZHENWEI EXPO

Lukoil said to have found oil offshore Ghana

MOSCOW (Bloomberg) -- OAO Lukoil, Russias second-largest oil producer, has made a discovery at Ghanas offshore Cape Three points project, according to a person with direct knowledge of the development. The company has 90 days to evaluate th......【More】

2014-09-03

WTI crude falls, ending longest rise in six months, Brent steady

NEW YORK (Bloomberg) -- West Texas Intermediate fell, snapping the longest rising streak since February as OPECs oil production was seen increasing to the highest level in a year. Brent was steady in London. Futures dropped as much as 0.3%......【More】

2014-09-02

Australia panel advises weaker clean-energy plan

A government-appointed panel gave Australian Prime Minister Tony Abbott two options to cut emissions more cheaply: either scrap or weaken its main clean- energy program. Accepting either would imperil A$20 billion ($19 billion) of existing......【More】

2014-09-01

U.S. oil imports fell to 19-year low for July, API report shows

WASHINGTON, D.C. (Bloomberg) -- U.S. imports of crude and fuel in July dropped to the lowest level for the month in 19 years as domestic production rose, the American Petroleum Institute said. Imports slid to 9.06 MMbpd, the least for July......【More】

2014-08-22

Iraqi Kurds, Turkey to double oil export pipeline capacity

ALI BERAT MERIC and SELCAN HACAOGLU ANKARA, Turkey (Bloomberg) -- The Kurdish regional government in Iraq and Turkey are working to at least double the capacity of a pipeline that allows the Kurds to export crude oil, Turkish Energy Ministe......【More】

2014-08-21

Canada oil train crash report finds new safety steps needed

LAC-MEGANTIC, Quebec (Bloomberg) -- Canada must take a greater role to improve rail safety and demand railroads put measures in place to prevent runaway trains such as the one that destroyed the downtown of Lac-Megantic, Quebec last year, t......【More】

2014-08-20

IEA rates Brazilian oil production as ＂exceptional＂

PARIS -- The International Energy Agency (IEA) classified as exceptional the increase in oil production in Brazil in the second quarter of this year, in a monthly report released Aug. 12. According to the report, Brazilian oil production re......【More】

2014-08-19

Oil sands at biggest risk from falling crude price, study says

LONDON (Bloomberg) -- ConocoPhillips and Royal Dutch Shell Plc are among global oil companies needing crude prices as high as $150 a barrel to turn a profit from Canadas oil sands, the costliest petroleum projects in the world, according to......【More】

2014-08-18

ZAK sees hydrogen blast at Poland ammonia plant

A hydrogen explosion at Polands Zaklady Azotowe Kedzierzyn (ZAK) led to eight injuries and forced the companys ammonia unit to shut down, the company said on Wednesday. ZAK said the situation is under control, with hydrogen being flared. Th......【More】

2014-08-14

Tata Steel inks contracts with Subsea 7 to supply undersea pipes

MUMBAI, India -- Tata Steel has signed a series of contracts with Subsea 7 to supply undersea pipes to four separate North Sea projects. The four contracts, signed over the past year and worth an estimated $13.4 Million (10 million) in tota......【More】

2014-08-13