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Statoil inks new agreements with OneSubsea, Aker Solutions

STAVANGER, Norway -- Statoil Petroleum has signed Master Service Agreements with Aker Solutions and OneSubsea Processing. The agreements form the basis for potential new EPC contracts for subsea equipment in the medium-term future. An EPC o......【More】

2016-01-11

Saudi Arabia considering IPO for Aramco

RIYADH (Bloomberg) -- Saudi Arabia is considering its own Big Bang. The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. A potential initial p......【More】

2016-01-08

Crude tumbles below $34 as U.S. supply glut expands

NEW YORK (Bloomberg) -- Oil fell below $34/bbl in New York after U.S. gasoline inventories surged the most in 22 years and crude supplies at the American hub climbed to a record. Brent oil dropped to an 11-year low in London. Gasoline stock......【More】

2016-01-07

Oil falls to two-week low as U.S. stockpiles seen nearing record

NEW YORK (Bloomberg) -- Oil dropped to a two-week low on speculation that a government report will show U.S. crude inventories climbed last week. Futures fell as much as 1.9% in New York. Stockpiles probably rose the 13th time in 15 weeks,......【More】

2016-01-06

Crude declines as global glut outweighs Middle East tensions

LONDON (Bloomberg) -- Oil reversed earlier gains as a global glut outweighed tensions between Saudi Arabia and Iran. Futures surged as much as 4.6% in London earlier after the Saudi government cut ties with Iran following an attack on its e......【More】

2016-01-05

Iran says its planned boost in oil exports won’t harm market

TEHRAN (Bloomberg) -- Iran is trying to regain its lost share of global crude sales and has no intention of harming the oil market with its planned increase in production once sanctions are lifted from its economy, Oil Minister Bijan Namdar......【More】

2016-01-04

ConocoPhillips to export first U.S. shale oil as it beats rivals

SAN ANTONIO -- On the heels of the U.S. governments recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nations......【More】

2015-12-31

ConocoPhillips to export first U.S. shale oil as it beats rivals

SAN ANTONIO -- On the heels of the U.S. governments recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nations......【More】

2015-12-31

TAQA announces first oil from Cladhan field in North Sea

ABERDEEN, Scotland -- Abu Dhabi National Energy Company PJSC (TAQA), has announced first oil from the new Cladhan field development in the UK North Sea. The field is developed as a subsea tie-back to the TAQA-operated Tern Alpha platform. P......【More】

2015-12-30

Saudi Arabia cuts dependence on oil amid slump in crude prices

RIYADH (Bloomberg) -- Saudi Arabia, the worlds biggest crude exporter, continues to cut its dependence on oil revenue due to the slump in oil prices, even as the kingdom keeps boosting production to defend its market share. The kingdoms rev......【More】

2015-12-29