Crude Oil News

 

Oil Slips from 4-month Highs

Sep 13, 2018

Oil prices fell on Thursday, slipping back from four-month highs as investors focused on the risk that emerging market crises and trade disputes could dent demand even as supply tightens.Benchmark Brent crude oil was down 65 cents a barrel at $79…

Oil Up as U.S. Drilling Stalls, Iranian Sanctions Bite

Sep 10, 2018

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…

Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040

Jul 31, 2018

Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator…

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…

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…

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…

PEMEX plummets in 2Q

Jul 28, 2015

Mexico’s national oil company Petróleos Mexicanos (PEMEX) suffered a 62% loss in its net income in 2Q 2015 of nearly US$52 billion ($84.6 billion MXN), a significant difference when compared to last year’s net income loss of $32.1 billion ($52…

US oil exports hit 57-year high

Sep 30, 2014

In July, total US exports of crude oil and petroleum liquids reached 138,838 thousand bbl, a 57-year high, according to monthly export data released by the US Energy Information Administration. The bulk of this, 89,241 thousand bbl (64…

EIA examines US-Mexico crude oil trade

May 28, 2014

The US Energy Information Administration’s new “Today in Energy” brief looks at how Mexico’s crude oil exports to the United States have declined, while US exports of petroleum products to Mexico have increased. The US imported 850,000 bbl/d of crude oil from Mexico in 2013…

US crude to hit 1972 highs

May 07, 2014

The US Energy Information Administration (EIA) estimates US total crude oil production averaged 8.3MM bbl/d in April—making it the highest monthly average production since March 1988.  US total crude oil production, which averaged 7.4MM bbl/d in 2013…

Canada, Saudi Arabia, Mexico increase share of US crude imports

Apr 04, 2014

The US Energy Information Administration’s new “Today in Energy” brief looks at how US oil imports were down in 2013, but the share of imports last year from the United States' top three foreign oil suppliers—Canada, Saudi Arabia, and Mexico—was the highest in at least four decades…

Using VIEC to enhance oil separation

Jul 30, 2013

Wärtsilä’s acquisition of the British-headquartered, global engineering company Hamworthy early in 2012 has added a portfolio of high technology products and systems to the Finnish power solutions company’s offering including vessel internal electrostatic coalescer (VIEC) technology…

Spectra buys Express-Platte pipeline

Dec 11, 2012

Spectra Energy Corp announced it has entered into a definitive agreement to purchase 100% of the ownership interests in the Express-Platte Pipeline System from Borealis Infrastructure, the Ontario Teachers' Pension Plan and Kinder Morgan Energy Partners for $1…

Enbridge wins Heidelberg pipeline

Nov 12, 2012

Enbridge Inc. announced that it will build, own and operate a crude oil pipeline in the Gulf of Mexico to connect the proposed Heidelberg development, operated by Anadarko Petroleum Corporation, to an existing third-party pipeline system. The lateral pipeline is expected to be operational by 2016…

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