Industry News

RSS Latest News

  • Trump misfires in tweet on OPEC and oil prices September 21, 2018
    For US President Donald Trump, the tweeted blurt has become a signature tool of policy expression.  
  • API: US petroleum net imports increased strongly on falling exports September 21, 2018
    The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute. The nation’s overall petroleum trade balance went from net imports […]
  • Baker Hughes: US rig count drops 2 units to 1,053 September 21, 2018
    The US drilling rig count is down 2 units to 1,053 rigs working for the week ended Sept. 21, according to Baker Hughes data. The count is up 118 units from the 935 rigs working this time a year ago. The 2 rigs dropped were from those drilling on land. A total of 1,028 rigs […]
  • Pemex, Talos sign preunitization pact September 21, 2018
    Petroleos Mexicanos (Pemex) and a Talos Energy group have signed a preunitization agreement allowing the sharing of information about contiguous shallow-water areas offshore Mexico. One of the blocks, the Talos group’s Block 7 production-sharing contract area, contains the 2017 Zama oil discovery, where the group earlier this year reported plans for an appraisal well.
  • Williams completes construction of Atlantic Sunrise gas line September 21, 2018
    Williams Cos. has completed construction of its 1.7-bcfd, 200-mile Atlantic Sunrise natural gas pipeline, which is ready to be placed into service pending final approval from the US Federal Energy Regulatory Commission. The company requested such approval Sept. 19.
  • Woodside signs LNG supply deal with Uniper September 21, 2018
    Woodside Petroleum Ltd. subsidiary Woodside Energy Trading Singapore Ptd. Ltd. has signed a heads of agreement (HOA) with Germany energy firm Uniper Global Commodities SE for the supply of as much as 600,000 tonnes/year of LNG over a period of 4 years starting in 2019.
  • Equinor lets contract for semi drilling rig in NCS September 21, 2018
    Equinor ASA has let a six-well contract to Transocean Ltd. for its Transocean Norge newbuild harsh-environment semisubmersible drilling rig for use in the Norwegian Continental Shelf.
  • MARKET WATCH: NYMEX oil prices drop but hold above $70/bbl September 21, 2018
    The light, sweet crude oil prices for October and November declined modestly yet each settled above $70/bbl on the New York market Sept. 20 while Brent crude oil prices for November and December also fell but each settled above $78/bbl in London.
  • China imposes 10% tariff on US LNG September 21, 2018
    China imposed a 10% tariff on LNG imports from the US, describing the measure as a response to the latest US tariffs on $200 billion of Chinese goods. The 10% tariff, which includes other products as well to affect $60 billion worth of trade, will go into effect Sept. 24, according to China’s ministry of commerce.
  • Petro Matad updates Mongolia exploration September 20, 2018
    Petro Matad Ltd. said it drilled the Snow Leopard exploration well to 2,930 m MD in the Valley of the Lakes basin complex of central Mongolia. The well reached granitic basement on Block V. The Snow Leopard well now will be plugged and abandoned pending evaluation.