Oil News

 

NOIA Pushes for Growth and Stability in the US Energy Markets

Dec 14, 2020

Erik Milito, President National Ocean Industries Association (NOIA), discusses the outlook for traditional oil and gas and emerging renewable offshore energy under the incoming Biden Administration.

Brazilian Prosecutors Sue Maersk Over Alleged Corruption

Dec 11, 2020

Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday…

Exxon Lowers Oil Price Outlook for Much of the Next Decade

Nov 25, 2020

U.S. oil major Exxon has lowered its expectations for oil prices for much of the next decade, the Wall Street Journal reported on Wednesday, citing internal company documents.As part of an internal financial-planning process conducted this fall…

Oil Rises on Vaccine Hope, Weak Dollar

Nov 25, 2020

Oil rose for a fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.Brent crude was up 30 cents…

BIMCO on Tanker Shipping; The Worst is Not Over

Nov 25, 2020

While the tanker market had a strong run at the outset of the COVID-19 pandemic, according to a report released this morning by BIMCO, tanker shipping will not benefit this year from the usual strong winter seasonal effect. Though the new lockdowns…

Equinor: Oil Demand to Peak Earlier Than Previously Thought Due to Virus

Nov 17, 2020

Oil firm Equinor expects global oil demand to peak by around 2027-2028, two-free years earlier than the company previously saw, as a result of the COVID-19 pandemic, it said on Tuesday.There is no agreement on when oil demand could peak, but…

Report: OPEC+ Oil Output Cuts Compliance at 101 Pct

Nov 13, 2020

The compliance of OPEC+ with oil production cuts in October was seen at 101%, three OPEC+ sources told Reuters on Friday, maintaining a strong level of adherence to their supply-cut pact.The compliance assessment will be reviewed and confirmed…

Coronavirus Surge Throws Oil Recovery into Reverse

Nov 04, 2020

Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown.Between mid-September and mid-October, Brent’s six-month calendar spread had been tightening, a signal…

Pandemic, Renewables to Set Oil Demand for Peak in 2028, Rystad Says

Nov 02, 2020

The COVID-19 pandemic and a faster transition to renewable energy sources will have a permanent impact on global oil demand, Norway's biggest independent energy consultancy Rystad predicted on Monday.Global demand will likely peak in 2028 at 102 million barrels of oil per day (bpd)…

Op/Ed: Candidates Should Not Ignore Offshore Safety Advances

Oct 30, 2020

The American Gulf of Mexico is home to impressive industry and even more incredible beauty. Every day, fishermen, conservationists, tour guides, canal and port dredgers, offshore oil and gas workers and countless others go to work in and around the Gulf of Mexico…

ConocoPhillips Posts Smaller-than-expected Loss

Oct 29, 2020

Oil producer ConocoPhillips, which is buying Concho Resources Inc for $8.3 billion, posted a smaller-than-expected quarterly loss on Thursday as it benefited from a recovery in crude oil prices from pandemic-driven lows.Oil prices began recovering…

Exxon to Cut 14,000 Jobs as Pandemic Hits Oil Demand

Oct 29, 2020

ExxonMobil Corp said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices.Exxon and other oil producers have…

FSO Nabarima Is 'Upright' but Crude Transfer Could Be Risky

Oct 26, 2020

A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to offload crude from the vessel posed some risks, the energy minister of neighboring Trinidad and Tobago said on Thursday…

Tanker Approaches Listing FSO Nabarima to Load Crude

Oct 20, 2020

An oil tanker operated by Venezuelan state oil company Petroleos de Venezuela on Tuesday approached a floating oil facility where it is expected to receive crude via transfer at sea amid environmental concerns, Refinitiv Eikon data showed.Environmental…

Production Starts from Talos' Bulleit Field in Gulf of Mexico

Oct 20, 2020

U.S. oil and gas company Talos Energy has started producing oil from its Bulleit field, in the Green Canyon 21 block in the U.S. Gulf of Mexico.The news of the production startup from the field sitting in 365 meters water depth was shared on Monday by Talos' partner in the block…

Current News

Early-season Gulf of Mexico Storm Trims Some US Oil Production

Early-season Gulf of Mexico Storm Trims Some US Oil Production

Suncor, Partners Reach Tentative Deal on Future Path for Terra Nova FPSO

Suncor, Partners Reach Tentative Deal on Future Path for Terra Nova FPSO

TotalEnergies, Qatar Petroleum, Chevron Submit Winning Bids for Suriname Offshore Blocks

TotalEnergies, Qatar Petroleum, Chevron Submit Winning Bids for Suriname Offshore Blocks

Siem Offshore Sells AHTS Duo to Reduce Debt

Siem Offshore Sells AHTS Duo to Reduce Debt

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