- Five Major Challenges Facing The Energy Industry
- Record-high prices at the pump, a looming diesel shortage right when the summer season is starting, and an uncooperative OPEC are probably reasons for many head
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102017-07
- OPEC and non-OPEC production cuts can go longer and deeper if necessary, says Russia energy minister
- OPEC and non-OPEC producers have the capacity to extend and deepen their production cuts should the oil market's situation become even more complex, Russia's Oil Minister Alexander Novak told CNBC on Monday.
072017-07
- Oil slumps 2.8%, closing at $44.23, on worries about high US output, OPEC exports
- Oil prices fell nearly 3 percent to close just above $44 a barrel.
Weekly U.S. government data showed on Thursday that U.S. oil production rose one percent to 9.34 million barrels per day.
The rise in U.S. output coincides with OPEC exports climbing for a second consecutive month in June.
052017-07
- Saudi Aramco, France's Total study mixed feed cracker
- Saudi Aramco and France's Total are considering building a mixed-feef cracker and derivatives in Jubail, near their joint refining complex, industry sources said.
The cracker is expected to have a capacity of 1.5MMtpy, said a source familiar with the plans, who described them as at an initial stage.
The feedstock would partially come from SATORP, the existing Aramco-Total joint refining venture, and from Sadara, a joint venture between Aramco and Dow Chemical, also in Jubail.
Sadara operated a mixed-feed cracker, the first in Saudi Arabia.
032017-07
- Oil demand to pick uo despite Q2 price slump: UAE minister
- Oil demand is expected to pick up during the rest of the year, despite the price fall by the end of the second quarter (Q2), said the UAE energy minister, expressing optimism over the impact of OPEC's recent move to extend supply curb into 2018.
182017-04
- Iran's south pars field has begun oil production
- Oil wells at Iran's South Pars gasfield started production for the first time on Sunday,Iranian oil ministry news agency shana reported.
272017-02
- Middle East oil companies adapting to changing market
- The national oil companies in the Middle East are evolving to adapt to the changing oil market,according to Waddah Ghanem from the Dubai-based Emirates National Oil Company.
232017-02
- Russia overtaks Saudi Arabia as world's largest crude producer
- DUBAI--Russia overtook Saudi Arabia as the world's largest crude producer in December,when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the worst glut in decades.
172017-02
- Large cap oil M&A may lead to new large-cap company
- Fast and furious deal-making in the shale fields of west Texa's Permian basin may end with the creation of a new oil major.
122017-01
- Spending in North American Oil Patch Set to Jump
- oil-and-gas producers will likely spend 26% more than last year drilling in the North America than they did in 2016,compared to a 2.3% bump in spending internationally,according to a Barclays survery of industry executives.
092017-01
- Statoil plans 30% increase in exploration drilling this year
- Norway's statoil ASA(STO) plans a 30% increase in exploration drilling activity this year,as efficiency gains and lower market costs allow its investment budget to stretch further than previous expected.
