Source: Reuters
RIYADH (Reuters) – What a difference a year makes.
There was standing room only in the expansive halls of Riyadh’s Ritz-Carlton hotel on Tuesday as the world’s financial royalty attended Saudi Arabia’s Future Investment Initiative (FII) conference, aimed …
Prime Minister Narendra Modi said on Tuesday Saudi Arabia will invest in downstream oil and gas projects in India as part of a strategic partnership between the two countries, a move that would also help the world’s top oil …
Saudi Aramco, the state-owned company seeking to sell up to a 5% stake in an IPO, will list its shares on the local Saudi exchange on December 11, with a final price for the flotation set to …
Source: Reuters
NEW YORK (Reuters) – Enterprise Products Partners LP said on Monday it expects its Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions will add about 450,000 barrels per day (bpd) each of additional capacity.
Midland-to-ECHO 4 is …
Source: Reuters
RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks …
Source: Houston Chronicle
Mexico’s state-run oil company Petroleos Mexicanos, or Pemex, reported slightly higher production figures but posted a $4.6 billion loss during the third quarter amid sagging exports and domestic sales.
In a Monday morning statement, Pemex reported a …
Source: Reuters
NEW YORK (Reuters) – Oil prices eased on Monday after four days of gains as worries about weak Chinese industrial data offset hopes oil demand will rise as talks progress on a Sino-American trade deal.
Brent futures were …
Houston pipeline operator Enterprise Products Partners reported a $1 billion profit during the third quarter but missed Wall Street revenue expectations amid weaker commodity prices for crude oil, natural gas and natural gas liquids such as ethane, propane …
Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg TV interview.
U.S. shale production has turned the …
The largest banking lenders to the U.S. oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, …
San Diego utility company Sempra Energy and Japanese industrial conglomerate Mitsui & Co. have entered into a memorandum of understanding to expand a liquefied natural gas export terminal in Louisiana and another in Baja California.
The two companies …
The raging Kincade fire in northern California has damaged and knocked some of Calpine’s The Geysers power plants offline.
Houston-based Calpine operates the world’s largest geothermal power complex in Sonoma and Lake counties in California. The fire originated …
MOGADISHU (Reuters) – Royal Dutch Shell and Exxon Mobil have paid $1.7 million to Somalia to lease offshore blocks for 30 years, the country’s state news agency reported on Friday.
“Shell/Exxon Mobil have paid $1.7 million to Somalia as …
RIO DE JANEIRO (Reuters) – Investors cheered a significant cut in production costs at Brazil’s state-run oil firm Petrobras on Friday, sending shares in the company soaring 4% in morning trade, their biggest intraday gain in more than a …
At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources.…
Phillips 66 beat analysts’ estimates for quarterly profit on Friday, as the refiner benefited from higher retail fuel margins, sending its shares up 4.4% to their highest in more than a year.
The Houston, Texas-based company, which retails fuel …
Stockpiles of low-sulphur marine fuels held in floating storage around the Singapore trading and pricing hub are steadily growing ahead of a 2020 global deadline for rules that have shaken the global oil refining and shipping industries.
A total …
US Energy Information Administration
On August 9, 2019, the U.S. Environmental Protection Agency (EPA) announced that it had granted 31 Renewable Fuel Standard (RFS) Small Refinery …
Offshore wind could become a cornerstone of the world’s power supply as steep cost reductions and improved technology unleash the potential of the green energy source, said the International Energy Agency (IEA) on Friday.
Renewables replacing fossil fuel is …
Source: Houston Chronicle
The U.S. Fish & Wildlife Service gave a nod of approval to Annova LNG’s proposed export terminal at the Port of Brownsville after the Houston liquefied natural gas company pledged to set aside more than 1,400 acres …
Source: Houston Chronicle
The British energy major BP said Thursday it will build a new pilot plant for recycling plastics at its refining complex in Illinois.
The $25 million pilot plant, which is expected to be completed next year, would …
Source: Houston Chronicle
Oil traded near $56 a barrel in New York as weak economic data from Germany added to concerns over slowing global fuel demand, tempering the boost from a surprise pullback in U.S. crude stockpiles.
Futures recouped earlier …
Source: Reuters
(Reuters) – Oilfield services firm Patterson-UTI reported a smaller-than-expected loss on Thursday, as cost cuts helped it limit the impact of an ongoing decline in North American shale activity.
An investor push toward higher returns instead of growth …
SAO PAULO (Reuters) – Brazilian fuel distributor Petrobras Distribuidora SA is considering creating energy trading units as it seeks to reposition itself after its privatization last July, Brazilian newspaper Valor Economico reported on Thursday.
The company is considering …
A Columbian energy company was approved by the U.S. federal government to form a joint venture with one of the Permian Basin’s top oil and gas producers.…
Source: Houston Chronicle
Stockholders voted to approve the $1.8 billion merger two Houston oil field service companies — creating a new company with projected annual revenues of $4 billion.
In a pair of simultaneous votes held on Tuesday, stockholders with …
Source: Reuters
HOUSTON (Reuters) – Oil rose nearly 2% on Wednesday after government data showed a surprise draw in U.S. crude stocks and as the prospect of deeper output cuts by OPEC and its allies offered support.
U.S. crude stocks …
