Industry News

Global oil industry braces for turmoil from U.S. crackdown on Venezuela

More than 24 hours after the United States announced large-scale sanctions on Venezuela’s nationally owned oil company, merchant trading firms and refiners were still deciphering what the measures prohibited.

U.S. gasoline glut hits new record, crude stocks up

U.S. gasoline inventories jumped to a record high in the most recent week even as refiners cut back activity, the Energy Information Administration said, while crude stocks rose sharply.

Mangalore Refinery awards desalination order

WABAG has secured INR 467 Crore worth order from Mangalore Refinery and Petrochemicals Limited (‘MRPL’) towards engineering and construction of a 30 MLD Sea Water Desalination plant expandable upto 70 MLD in Mangaluru, Karnataka.

KBR secures contract for its solid acid alkylation technology

KBR, Inc. announced that it has entered into a contract with Wynnewood Refining Company, LLC (Wynnewood) for engineering and design services relating to KBR's Solid Acid Alkylation Technology (K-SAATTM) for Wynnewood's refinery located in Wynnewood, Oklahoma.

EPA plans biofuel 'reset' as program misses Congress' targets

The U.S. Environmental Protection Agency will propose new targets for the final three years of the nation’s renewable fuel program in January, replacing ambitious decade-old goals set by Congress with volumes closer to the industry’s current output, two people familiar with the matter said.

Europe tops buyers for U.S. LNG with winter cargo influx

Energy companies are flooding Europe with U.S. natural gas, establishing a foothold in a market dominated by Russia and seen as a key battleground in Washington’s efforts to curb Moscow’s energy influence.

French LNG imports soar as Australia and United States boost capacity

French liquefied natural gas (LNG) imports soared last year as Australia, the U.S. and Russia brought more LNG to world markets, French gas network operator GRTgaz said.

Saudi Aramco eyes multi-billion-dollar US gas acquisitions

Saudi Aramco, the world's top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend "billions of dollars" there as it aims to become a global gas player, the company's CEO said.

China imports record LNG supplies in Dec, remains world's No.2 buyer in 2018

SINGAPORE, (Reuters) - China's imports of liquefied natural gas (LNG) in December soared 25% from the same period a year earlier to a monthly record of 6.29 metric MMt, customs data showed on Wednesday.

U.S. ban may offer China and India feast of cheap Venezuelan oil

A possible move by Donald Trump to hurt Venezuela’s oil industry could prove a shot in the arm for the Xi Jinping and Narendra Modi administrations.

Cracks appear in record U.S. oil growth as shale slows for now

Cracks are emerging in the U.S. oil machine.

Azinor Catalyst hits again at Agar-Plantain

The prospect could have recoverable reserves of up to 50mn barrels

Canadian oil sand producers throw new tech at old foe

CALGARY (Bloomberg) -- In their quest to make one of the most expensive methods of producing crude more profitable, Canada’s oil-sands companies have been ramping up efforts to get their thick bitumen to flow through pipelines more easily and cheaply.

Oil falters as U.S. shutdown, China trade cast pall over economy

Crude prices fell to the lowest level in almost a week as China warned of “serious challenges” to the global economy and the U.S. government shutdown cast a pall over growth.

Halliburton plans to reduce capital spending in fourth-quarter report

Halliburton Company has reported income from continuing operations of $664 million, or $0.76 per diluted share, for fourth-quarter 2018. This compares to income from continuing operations for the third quarter of 2018 of $435 million, or $0.50 per diluted share.

Confident oil industry set to ratchet up spending in 2019

After years of gloom, the oil industry’s out of its slump.