Crude Oil News


Crude Oil Spill Near Port Sulphur, La.

Dec 10, 2018

The U.S. Coast Guard said on Sunday it is responding to a crude oil discharge in Rattle Snake Bayou, southwest of Port Sulphur, La.Coast Guard watchstanders in New Orleans received a report from the National Response Center that the well was reported to be leaking…

First Oil Offloaded from FPSO at Dussafu

Dec 03, 2018

London based independent Panoro Energy ASA announced Monday that the first cargo of oil from Dussafu has been offloaded from the BW Adolo floating production storage and offloading unit (FPSO) on December 2.A total of 550,000 barrels of oil…

Big Crude Oil Margins Should Boost US Refiner Earnings

Jul 19, 2018

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…

Brent Crude Eases, as Canadian Supply Drop Boosts U.S. Futures

Feb 20, 2018

Monday U.S. holiday pulls WTI's Friday gain into Tuesday. Brent crude oil prices eased on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures contracts to a six-month low…

Statoil inks Garantiana tieback study

Jun 12, 2017

Wood Group has been awarded two new contracts by Statoil to deliver concept and feasibility studies to their Norwegian North Sea assets. Wood Group will deliver a topside concept study evaluating the tie in of Total’s Garantiana field development to Statoil’s Gullfaks B and Visund facilities…

Petronas to cut 2017 production

Dec 21, 2016

Malaysia's Petronas will voluntarily make some adjustments to its crude oil production beginning in January 2017, a decision that stems from the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers made earlier this month…

Lukoil strikes Caspian Sea pay

Nov 23, 2016

Lukoil has struck more pay at its third well in the Vladimir Filanovsky field in the shallow waters of the Caspian Sea. The LSP-1, from Lukoil. The horizontal section of the well is 1217m long…

Well intervention market to grow 4.3% CAGR to 2021

Jul 21, 2016

A new report from Reports and Reports called 'Global Well Intervention Market 2016-2021,' says worldwide, well intervention is forecast to grow at a CAGR of 4.34% from 2016-2021, on account of rising demand in the oil and gas energy along with aging well assets…

Chevron cancels Buckskin-Moccasin

Jan 29, 2016

In Chevron's Q4 2015 earnings conference call today, the company announced it was cancelling the deepwater Gulf of Mexico project Buckskin-Moccasin, instead choosing to advance other projects, particularly onshore in the Permian basin. Chevron's…

EIA: Iran production to increase

Jan 19, 2016

Implementation day for the Joint Comprehensive Plan of Action (JCPOA), an agreement among Iran, the P5+1 (the five permanent members of the United Nations Security Council and Germany), and the European Union (EU), occurred on 16 January…

Iran nuclear deal approved

Oct 13, 2015

Iran’s historic nuclear deal with six world powers was approved by the country’s parliament today (13 October) with 64% in favor of the bill, clearing a hurdle for sanctions against Iran being lifted. Iranian parliament approves JCPOA bill…

EIA analyzes crude export ban effects

Sep 02, 2015

The recent rise in domestic crude oil production from 5.6 MMb/d in 2009 to 8.7 MMb/d in 2014 and the prospect of continued supply growth have sparked interest in the question of how the relaxation or removal of current policies, which restrict…

Hurricane-related risk to US production decreases

Aug 28, 2015

Offshore energy production in the Gulf of Mexico has experienced relatively minor disruptions because of tropical storms and hurricanes in recent years, and the National Oceanic and Atmospheric Administration (NOAA) has predicted a below…

Iran eyes 5.7 MMb/d output

Aug 17, 2015

Iran is preparing to introduce 45 new oil projects to potential investors as it looks to attract investment into the country post-sanctions.  Iran finally reached an historic agreement with the P5+1 countries late last month, over Iran's nuclear activities…

Chevron in 2Q drastic drop

Jul 31, 2015

Chevron’s results for 2Q 2015 show the company in a drastic drop of nearly 90% compared to last year, from substantial impairments that have lead the company to implement multiple efforts to improve future earnings and cash flows. Image…

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