Industry News|cippe Zhenwei Shanghai Petrochemical Show|ZHENWEI EXPO

Oil falls most in three weeks as OPEC crude production climbs

MARK SHENK and GRANT SMITH NEW YORK (Bloomberg) -- Oil dropped the most in three weeks after OPEC reported that its members pumped the most crude in three years. The Organization of Petroleum Exporting Countries produced 31.57 MMbopd last m......【More】

2015-10-14

House votes to lift U.S. oil export restrictions

WASHINGTON -- The House of Representatives has voted in favor of lifting 40-year-old restrictions on exporting U.S crude oil. The vote was welcomed by industry groups and representatives, but critics branded it a piece of meaningless politi......【More】

2015-10-13

GE, Statoil sign subsea exploration wellhead frame agreement

ABERDEEN, United Kingdom -- GE Oil Gas has been awarded a four-year framework agreement to provide wellhead equipment and associated services to Statoil with the option of two, two-year extensions. GE Oil Gas will provide its DWHC MS-700 SF......【More】

2015-09-14

Shale producers clobbered by oil rout face added Iran supply

NEW YORK (Bloomberg) -- Shale oil producers already awash in a supply glut face added crude as early as next year after an agreement to ease sanctions on Iran cleared a Senate obstacle. A Senate vote Thursday paved the way for President Bar......【More】

2015-09-11

Citigroup sees U.S. oil output losing 500,000 bpd

NEW YORK (Bloomberg) -- A funding squeeze threatens to cut U.S. oil output by as much as half a million barrels a day by the end of the year, with shale producers among the worst affected, Citigroup Inc. said. Capital markets thus far have......【More】

2015-09-10

What investors need to know about Israel's natural gas market

TEL AVIV, Israel (Bloomberg) -- Israels parliament on Monday approved a framework to regulate its natural gas industry, eight days after the discovery of a field in Egyptian waters damped expectations for regional exports. While legislative......【More】

2015-09-09

Oil extends decline as Russia rules out deal with OPEC on output

LONDON(Bloomberg)--OildeclinedforaseconddayafteranotherRussianofficialruledoutcooperationonproductioncutswithOPEC,addingtosignsthataglobaloversupplywillpersist. Brentlostasmuchas4.3%inLondon.RussiawontjointheOrganizationofPetroleumExporting......【More】

2015-09-08

Oil industry slashes lobbying spending amid downturn

NEW YORK (Bloomberg Politics) -- As Americans preparing for Labor Day weekend trips enjoy low gas prices, they might not fail to appreciate another effect of the plummeting price of oil. It appears to be crimping the style of one of Washing......【More】

2015-09-07

Oil discovery in northern part of the North Sea

STAVANGER, Norway -- Statoil Petroleum AS, operator of production licence 104, has concluded the drilling of wildcat well 30/9-27 S. The well was drilled around 7 km west of the Oseberg Sr-field in the northern part of the North Sea, 150 km......【More】

2015-09-06

Oman considers importing LNG as domestic gas use surges

DUBAI (Bloomberg) -- Oman may start importing to meet surging domestic energy demand, according to two people with knowledge of the matter, a shift in trade that would make it the fourth Arab country in the oil-rich Persian Gulf to buy LNG.......【More】

2015-08-31