Oil prices eased on Wednesday but were still heading for a fifth consecutive quarter of gains, driven by an impending drop in Iranian exports in the last three months of the year when global demand heats up.Brent crude futures were last down 49 cents on the day at $81…
Oman and Iran will drive the majority of the growth in the oil storage industry in the Middle East between 2018 and 2022, contributing more oil storage capacity than any other country in the region, according to leading data and analytics company GlobalData…
Well control and engineering services firm Wild Well Control, Inc., a Superior Energy Services company, announced that it will offer well control training to drilling rig crews onsite with its rigsite well control Crew Training Unit.Wild Well…
MATCOR, a BrandSafway company, recently earned a design patent for its Iron Gopher, a linear anode designed to prevent corrosion through cathodic protection in horizontal directional drilling (HDD) applications. With a braided stainless steel…
Oil prices rose on Monday as U.S. drilling stalled and investors anticipated lower supply once new U.S. sanctions against Iran's crude exports kick in from November.Brent crude oil jumped $1.09 a barrel, or 1.4 percent, to a high of $77.92, but then eased to $77…
U.S. oil producer Magnolia Oil & Gas Corp aims to at least triple in market valuation in coming years as it develops shale acreage across eastern and southern Texas, Chief Executive Steve Chazen said on Wednesday.Magnolia's shares have rallied…
A federal judge in Montana on Wednesday ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline, possibly delaying the project's construction and dealing the latest setback for Canada's TransCanada Corp…
U.S. liquefied natural gas company Tellurian Inc said on Wednesday it remains on track to begin construction of its Driftwood LNG export terminal in Louisiana in the first half of 2019 and begin operations in 2023.Tellurian President and CEO…
In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's shale business turn a profit for the first time.Thousands of automated wells feed data on their performance into the firm's supercomputers each evening…
U.S. refiners ran full-tilt in the second quarter, fueled by cheap domestic crude and fat margins that should boost earnings, though their heavy activity could eventually saturate the market with gasoline, sapping profits down the road.U.S. independent refiners…
OPEC supply cuts since 2017 have tightened market; oil has also risen on U.S. sanctions threat against Iran. Oil traded near its highest in 3-1/2 years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U…
U.S. energy companies added oil rigs for a third week in a row even though crude prices have declined about 8 percent over the past three weeks.Drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015…
Russian energy major Rosneft is increasingly challenging domestic rival Gazprom in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter.Last week, Rosneft won…
U.S. crude oil production jumped 215,000 barrels per day (bpd) to 10.47 million bpd in March, the highest on record, the Energy Information Administration (EIA) said in a monthly report on Thursday.Production in Texas rose by 4 percent to almost 4…
U.S. crude, gasoline inventories rise unexpectedly as Brent-WTI spread nears widest margin in three years. Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that OPEC will end an output deal…
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