Industry News

Oil slumps most in a month as IMF, trade dispute darken outlook

Oil slumped by the most in almost a month as economic warning signs flashed from Chinese trade talks to the U.S. housing market.

Halliburton feels U.S. fracing slowdown more acutely

The world’s biggest oilfield service companies are feeling the U.S. fracing slowdown as shale producers slash spending forecasts.

Libya's stepping stone to normality

Eni leads a return to oil exploration in Libya for the first time since the 2011 Arab Spring revolution

Canada divided by carbon conundrum

Canada’s plans for raising carbon tax face mounting political and popular opposition

At least 66 Killed in Mexico Blast after Thieves Rupture Pipeline

At least 66 people were killed and dozens were injured or missing after a gasoline pipeline was tapped by thieves and exploded in central Mexico. The tragedy came just three weeks after President Lopez Obrador launched an offensive against fuel theft gangs

Freedom Oil & Gas has announced new leadership with industry veteran

Freedom Oil & Gas Ltd has announced that effective Jan. 14, 2019, J. Russell Porter will be joining the company as president, CEO, and a member of the board of directors. J. Michael Yeager, Freedom's chairman of the board, president and CEO will remain as non-executive chairman.

U.S. could soon produce more crude than Saudis can at their peak

America’s journey to preeminence in the global oil trade is about to hit another milestone.

Oil hits 2-month high as China truce signals brighter outlook

Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy.

Husky ends hostile MEG bid after lack of investor support

Husky Energy abandoned its $2.07 billion hostile takeover bid for rival Canadian oil-sands producers MEG Energy after failing to win enough support from shareholders.

Shell appoints new upstream director

Royal Dutch Shell plc (Shell) has announced the appointment of Wael Sawan as upstream director with effect from July 1, 2019.

Oil gains as Russia, Saudis signal commitment to production cuts

Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut.

CNOOC's Huizhou project starts production in the South China Sea

CNOOC has announced that Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project has commenced production.

Equinor has made a gas, condensate discovery south of the Kristin field

Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well.

Eastern Mediterranean countries to form regional gas market

Eastern Mediterranean countries meeting in Cairo agreed to set up a forum to create a regional gas market, cut infrastructure costs and offer competitive prices, Egypt’s petroleum ministry said.

U.S. wants Qatar to challenge Russian gas in Europe -U.S. official

The United States wants Qatar, the world's top liquefied natural gas supplier, to challenge Russia's gas dominance in Europe, a U.S. administration official said.

Israel will begin exporting gas to Egypt in a few months' time

Israel will begin exporting natural gas to Egypt in a few months’ time, Energy Minister Yuval Steinitz said