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Hedging is about to make a comeback on global crude oil markets

Oil consumers are returning to hedging as spot oil prices have rallied and futures curves have flattened out, pointing to further strength ahead, Citi analysts said in a note.<p>Citi's comments come as oil prices have recovered from a plunge in 2014 with the bank seeing the first stop for the rally at …

Oil
Oil & Gas Industry
Oil

Onshore Advances Archives

Bentec, a subsidiary of KCA Deutag, announced that it has signed a new contract with Polskie Górnictwo Naftowe i Gazownictwo (PGNiG, Polish Oil and …

Ergonomics
Saudi Arabia

Statoil Targets Cost Savings of $1B in 2017

by Andreas Exarheas<p>Rigzone Staff<p>Tuesday, February 07, 2017<p>Statoil ASA is targeting cost savings of $1 billion in 2017, which comes in addition to the …

Praxair signs long-term U.S. Gulf Coast hydrogen supply agreement with Marathon

Praxair, Inc. signed a long-term contract to supply hydrogen to Marathon Petroleum Corporation’s refinery in Garyville, Louisiana. The company will …

U.S. oil drilling rig count recovery extends into 7th month

U.S. energy companies extended their recovery in oil drilling into a seventh month this week as they follow through on plans to add rigs as crude …

ExxonMobil to acquire companies doubling Permian Basin resource to 6B bbl

Exxon Mobil Corporation said it will more than double its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of …

Offshore discovered liquids resources in 2016 were 90% lower than in 2010

Rystad Energy concludes that the 2016 total offshore discovered liquids resources reached only slightly below 2.3 billion bbl, 90% lower than in …

Global petrochemical market expected valuation of $890B by 2020

Zion Research has published a new report stating that the global demand for the petrochemical market was valued at $550 billion in 2014 and is …

Border tax ideas roil oil markets, favor Gulf Coast refiners

As with many industries now fretting over the uncertain future of U.S. trade policy, the oil business is sizing up the potential impact of the …

Innovation
Oil & Gas Industry
Oil & Gas Industry
Halliburton
Demonstration
Manufacturing
Manufacturing

Lake Charles Methanol commitment 1,000 construction jobs and 500 permanent new U.S. jobs

Lake Charles Methanol and the U.S. Department of Energy (“DOE”) announced today that DOE has offered to LCM a conditional commitment to guarantee up …

Oil

Oil Extends Losses as Dollar Recovers, OPEC Cut Doubts Weigh

Oil prices fell about 1 percent on Tuesday, extending the previous session's sharp sell-off, as the U.S. dollar strengthened and doubts over implementation of a global deal to cut output loomed.<p>Members of the Organization of the Petroleum Exporting Countries (OPEC), such as Saudi Arabia, appear to …

LyondellBasell plans to retain Houston refinery after asset review

LyondellBasell said on Thursday that it would retain its Houston-area refinery following a review of strategic options for the business, Reuters …

Bear Paw receives EA approval for natural gas pipeline

Liquefied Natural Gas Ltd has announced that Bear Paw Pipeline Corp. Inc. has received environmental assessment (EA) approval from Nova Scotia …

Localized Approach Could Grow Gas-fired Power's Global Reach

by Matthew V. Veazey<p>DownstreamToday Staff<p>Tuesday, January 03, 2017<p>Pipeline expansions, microturbines and LNG "milk runs" can extend practicability of …

Empowering People in Oil and Gas

FEATURED STORY<p>A little-noticed addition to the US budget deal approved last week will help Oxy and other oil producers by more than tripling a tax …

Career Center Find Oil and Gas Industry Jobs

<b>CONFERENCE RECAP</b><p>Google, Facebook 'Wouldn't Have a Clue' How to Run Oil, Gas Industry<p>Companies like Google and Facebook wouldn't have a clue about how …

EIA: US to become net energy exporter in outlook to 2050

According to the US Energy Information Administration’s Annual Energy Outlook 2017 (AEO 2017), which has projections through 2050, the US will become …

Oil & Gas Industry