Crude Oil News

 

Chevron Profit Falls 27%

Apr 26, 2019

Chevron Corp's first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and signaled it is committed to buying smaller rival Anadarko Petroleum Corp…

Trump Calls for OPEC to Boost Production

Mar 28, 2019

U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity.'Very important that OPEC increase the flow of Oil. World Markets are fragile…

Oil Prices Near Flat

Mar 25, 2019

Oil prices were little changed on Monday as investors shrugged off fears of a global economic slowdown and focused on the prospect of tighter supply and lower U.S. crude inventories ahead.Brent crude oil futures climbed 30 cents to $67.33 a barrel by 11:56 a…

Oil Prices Reach 2019 Highs

Mar 19, 2019

Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…

US to Overtake Saudi in Oil Exports

Mar 08, 2019

United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company…

Oil Below 2019 highs on OPEC Cuts

Feb 19, 2019

U.S.-China trade talks this week also in focus.Oil was close to its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although gains were capped by concerns about slowing economic growth that could hit demand.The…

Exxon to Be Indonesia's Top Oil Producer

Jan 16, 2019

Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia's biggest oil producer, the country's upstream oil and gas regulator (SKKMigas) said.In second place Chevron…

US October Crude Oil Production Tops Record

Dec 31, 2018

U.S. crude oil output hit an all-time high of more than 11.5 million barrels per day in October, according to government data released on Monday.U.S. crude production rose 79,000 bpd in October to 11.537 million bpd, the U.S. Energy Information Administration said in a monthly report…

Oil Slips Back Toward 18-month Lows

Dec 27, 2018

Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices.Brent crude oil dropped $1.67 a barrel, or 3.1 percent, to a low of $52…

Mongstad Leak Suggests Corrosion, Inspection Need More Cash

Dec 11, 2018

If your outfit is all about leak detection, then you might want to call Norwegian energy company Equinor.The Stavanger-based outfit faces a reported 650,000 manhours and a $60-million bill this year and next for corrective work on pipes and valves at its 40-year-old Mongstad refinery alone…

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…

Cote d'Ivoire Deepwater Development Moves Forward

Dec 06, 2018

Independent crude oil and natural gas producer Canadian Natural Resources (CNR) and its joint venture partner in Cote d'Ivoire, Svenska Petroleum, plan to commence the fourth phase of the development of the deepwater Espoir asset in 2019, on…

Crude Oil Inventory Update

Nov 22, 2018

Crude inventory build has reared its head again. And fears of an oil glut returning have sent oil prices south.According to the International Energy Agency (IEA), OECD oil stocks increased by 58.1 million barrels in Q3 2018, the largest gain since 2015…

Wintershall CEO Meets Norwegian Prime Minister on Growth Plans

Oct 17, 2018

Mario Mehren, CEO of Wintershall, Germany's largest crude oil and natural gas producer, has presented Wintershall’s growth plans in Norway during a visit by Norway's Prime Minister, Erna Solberg, to Berlin.Mehren announced a further increase…

Oman and Iran to Drive Growth for Oil Storage Industry

Sep 24, 2018

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…

Current News

Nigeria Sees 2022 Oil Output of 1.88 mln bpd, GDP Growth of 4.2%

Nigeria Sees 2022 Oil Output of 1.88 mln bpd, GDP Growth of 4.2%

BP Suspends Offshore Platform in Azerbaijan for 25-day Maintenance

BP Suspends Offshore Platform in Azerbaijan for 25-day Maintenance

Harbour Energy Seeks to Exit Sea Lion Offshore Project in Falkand Islands

Harbour Energy Seeks to Exit Sea Lion Offshore Project in Falkand Islands

Halliburton to Assist Chariot with Offshore Drilling Operation in Morocco

Halliburton to Assist Chariot with Offshore Drilling Operation in Morocco

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