Saudi Aramco Sees Oil Rising as Demand Catches Up With Supply
Oil prices will increase by the end of this year but won’t rebound to levels reached in 2013 and 2014, according to Amin H. Nasser, president and chief executive officer Continue Reading
Algeria: Following Attack, Oil Companies Pull Back
Two foreign oil companies pledged to reduce or pull out staff completely at two Algerian natural gas plants following a March 18 attack by militants on the Ain Amenas natural Continue Reading
BP, Statoil to withdraw staff from Algerian plants after attack
A view of a Krechba gas treatment plant, about 1200 km (746 miles) south of Algiers, December 14, 2008. BP and Norway’s Statoil will withdraw staff from two gas plants Continue Reading
Brazil’s Petrobras Hit by Lower Oil Prices
Brazil’s troubled state-run oil company, Petróleo Brasileiro SA, reported its biggest quarterly loss ever Monday after lower oil prices and higher borrowing costs forced it to write off 49.75 billion Continue Reading
PDVSA to receive U.S. crude cargo from PetroChina: traders
Venezuela’s state-oil firm PDVSA has bought a 500,000-barrel cargo of U.S. crude from trading company PetroChina for delivery April 1-10 at its terminal in the Caribbean island of Curacao, traders Continue Reading
China’s Big Oil Might Do Something Rare: Write Down Assets
PetroChina Co., the country’s biggest oil and gas producer, and China’s largest offshore explorer Cnooc Ltd., may write down assets following crude’s plunge, analysts say. Analysts from Macquarie Capital Securities Continue Reading
Dreaded ‘stealth’ supply becomes reality as U.S. drillers turn on ‘ducks’
A pump jack stands idle in Dewitt County, Texas January 13, 2016. A dreaded scenario for U.S. oil bulls might just be becoming a reality. Some U.S. shale oil producers, Continue Reading
U.S. on track for record summer gasoline demand: Kemp
The United States will probably consume a record amount of gasoline in 2016, passing the previous peak set in 2007, and the prospect is helping lift crude oil prices. Recent Continue Reading
North Dakota rig count remains steady
As crude oil prices hold relatively stable, North Dakota, the No. 2 oil producer in the nation, saw its rig count hold steady from last week, state data show. The Continue Reading
New Market for U.S. Shale Gas Opens in Europe
Swiss petrochemicals giant Ineos Group Holdings SA plans to accept the first American shipment of a type of shale gas to Europe on Wednesday—a milestone that marks the opening up Continue Reading