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OPEC sees 'healthy' oil demand growth to 2022

KUWAIT (Bloomberg) --Oil demand will grow at a healthy pace over the next five years as renewables show the fastest expansion of any type of energy, the head of the Organization of Petroleum Exporting Countries said. Crude demand will climb......【More】

2017-10-16

Optum Energy Solutions enters pipeline drag reducer market

HOUSTON -- Optum Energy Solutions has entered the pipeline drag reducer market as a major manufacturer and full service supplier. Flow Optimizer is Optums new, water-based DRA technology, designed for broad-spectrum applications in crude oi......【More】

2017-10-13

Gazprom Neft partnership developing Russia's first integrated IT platform for seismic data

MOSCOW -- Specialists from the Gazprom Neft Science and Technology Centre, inpartnership with Yandex Terra (LLCSeysmotek), Pangea PJSC and the Moscow Institute ofPhysics and Technology (MIPT) are developing Russias first integrated platform......【More】

2017-10-12

GEODynamics consolidates reactive perforating technology IP

FORT WORTH, Texas -- GEODynamics, Inc. announced today it finalized payments of all future royalties to QinetiQ Group, PLC toward the portfolio of U.S. and international patents related to reactive oil and gas well perforating. GEODynamics......【More】

2017-10-11

Oilfield service companies form Well Performance Network

HOUSTON -- A new micro-alliance between multiple technology-driven service companies, collectively called the Well Performance Network (WPN), launched today, to revolutionize well construction and completion to deliver longer-lasting wells.......【More】

2017-10-10

Oil posts biggest weekly drop since May, storm concerns ease

NEW YORK (Bloomberg) --Oil took a downward turn as concerns eased about Tropical Storm Nates threat to offshore crude platforms and coastal refineries while prices broke through a key technical barrier. Futures slipped 3% in New York, bring......【More】

2017-10-09

Oil prices retreat from recent gains

NEW YORK, Sept. 28 (Xinhua) -- Oil prices fell on Thursday after gaining sharply in the past two weeks. The West Texas Intermediate for November Delivery dropped 58 U.S. cents to settle at 51.56 dollars a barrel on the New York Mercantile E......【More】

2017-09-30

Shale drillers, oil sands producers need crude above $50/bbl for boom to last

CALGARY (Bloomberg) --Shale drillers and oil sands producers have posted some healthy profits so far this year, but itll take oil consistently above $50/bbl for their investments to pay off in the long run. Thats the conclusion of a Moodys......【More】

2017-09-29

Oil prices fall on profit-taking

NEW YORK, Sept. 26 (Xinhua) -- Oil prices declined on Tuesday as investors took profits from recent rally. The West Texas Intermediate for November Delivery lost 34 U.S. cents to settle at 51.88 dollars a barrel on the New York Mercantile E......【More】

2017-09-28

Oil rally puts bulls on top, but $60-plus oil could be tough to sustain

LONDON and SINGAPORE (Bloomberg) --Oil bulls are back in the drivers seat with $60/bbl in sight, but it could be a short ride. OPEC and Russia are cutting output deeper than ever, demand is surprisingly strong and the threat of Middle East......【More】

2017-09-27