After the surprise election of Donald Trump, the head of Norway’s biggest oil company headed to Washington DC this month looking for reassurance. He came away as worried as ever.
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OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia’s Energy Minister said.
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Oil prices slipped, as support from a weaker dollar was offset by US crude inventories near record high levels.
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Up to 12 oil and gas projects off Norway could be sanctioned by oil companies this year, the Norwegian oil and energy minister says.
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Rising US oil production isn’t the only thing getting in the way of OPEC’s efforts to drain a global glut. American drivers aren’t helping either.
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The fire at Syncrude Canada’s oil sands plant in northern Alberta was extinguished on Thursday morning.
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The European Parliament rejected a call to ban Arctic oil and gas exploration.
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President Donald Trump’s administration proposes a 31% cut to the Environmental Protection Agency’s budget.
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China’s in talks with Saudi Arabia for its sovereign wealth fund and largest energy company to invest in the initial public offering of the Middle East nation’s state oil producer, according to sources.
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BP reshuffles its exploration and production division as the oil company readies for the biggest jump in output in its history.
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Region’s oil and gas employers still need facility asset pros, consultant tells Rigzone.
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Poland is threatening to use all legal means possible to block the settlement, without fines, of an antitrust investigation targeting Russian Gazprom, which it feels the European Union is going soft on. On Wednesday, Polish Foreign Minister Witold Waszczykowski said the country would use “all legal means” to block the EU’s terms for closing an anti-trust investigation into Gazprom. The Polish foreign minister’s statements are in direct response to comments from EU competition regulators the day before, saying that because…
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A secretive biotech company has positioned itself to potentially earn billions in revenue with the planned release of a new technology that could help prevent millions of strokes with a simple test that is affordable, non-invasive and accessible to the average American. A Multi-Billion-Dollar Problem with a $49,000 Answer Until now, there has been no cost-effective way to screen for Ischemia, the leading indicator of a stroke, which costs the U.S. government alone tens of billions of dollars a year. That could be about to change, thanks to a breakthrough…
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The U.S. shale cowboys are back on their horses and leading a strong recovery in the oil patch that is not expected to falter even as WTI prices dropped last week below $50 per barrel for the first time in more than two months. With lessons learned from the oil price crash and budgets streamlined and focused on the most prolific shale plays, U.S. drillers are giving OPEC a hard time by raising output and hedging future production. Meanwhile, the cartel members are trying to cut supply and fix the price of oil at such a range that would allow
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Saudi Aramco will restart oil and refined product shipments to Egypt after a sudden halt nearly six months ago, according to an announcement by the Egyptian Petroleum Ministry on Wednesday. The ministry said it had been working with the oil giant to determine a shipping schedule for the goods, adding that low oil prices and production cuts had caused the shipment freeze in October. “It was agreed that the Saudi Arabian side would resume Aramco’s shipping of oil products as per the commercial contract signed between the Egyptian General Petroleum…
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