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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

Murkowski welcomes approval of U.S.-Mexico oil exchange license

WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski (R Alaska) has applauded the U.S. Department of Commerces confirmation that the agency did in fact issue a cross-border oil exchange license with Mexico. I welcome the Department of Commerces app......【More】

2015-11-20

Petro Waste Environmental acquires landfill permit

SAN ANTONIO, Texas -- San Antonio-based Petro Waste Environmental LP (PWE) today announced the Railroad Commission of Texas (RRC) has issued the company its first permit to operate a non-hazardous oil and gas waste landfill in Howard County......【More】

2015-11-19

Saudi Aramco selects AUMA for Al Wasit Gas contract

MUELLHEIM, Germany -- Approved Saudi Aramco vendor status, strong technical support and strength in after-sales service were key reasons for the selection of AUMA valve control devices at the Al Wasit Gas Program, Saudi Aramcos development......【More】

2015-11-18

Oil producers hungry for deals drool over Permian basin

DAVID WETHE and DAN MURTAUGH HOUSTON (Bloomberg) -- The worst oil market in decades would be hard to spot in West Texas, where two-lane county roads are still jammed with trucks and energy companies are on the prowl for deals. The Permian b......【More】

2015-11-17

Oil rigs said touted to debt funds by Norwegian investment banks

LUCA CASIRAGHI and MIKAEL HOLTEROSLO, Norway (Bloomberg) -- Pareto Securities AS is among banks targeting debt funds and private-equity firms to buy oil rigs at firesale prices to hold until demand for offshore-drilling rebounds, according......【More】

2015-11-16

OPEC says oil-inventory surplus is biggest in at least a decade

GRANT SMITH VIENNA, Austria (Bloomberg) -- Surplus oil inventories are at the highest level in at least a decade because of increased global production, according to the Organization of Petroleum Exporting Countries. Stockpiles in developed......【More】

2015-11-13