Latest Oil news
Venezuelan Oil Would Still Flow Should Power System Collapse - Ramirez (Rigzone)
Venezuela, one of the top five suppliers of petroleum to the U.S., would continue producing crude oil even if its ailing electricity system were to suffer a collapse, the country's oil minister said Friday.
On the Level: Dual-fuel system is efficient and comfortable (The Capital)
My home HVAC system is 21 years old and I plan to replace it before I have an emergency. We heat with an oil-burning furnace and cool with a standard air conditioning system.
Tanker spills crude oil into road; businesses evacuated due to fumes (Midland Reporter-Telegram)
A one-vehicle accident early Saturday morning shut down one of Midland’s busiest intersections for most of the day as road and hazardous material crews worked to clear the area of more than 2,000 gallons of spilled crude oil.
ND oil refinery plans maintenance shutdown (AP via Yahoo! Finance)
North Dakota's only oil refinery is planning a monthlong shutdown for maintenance and upgrades beginning next month though officials say customers should not see any fuel shortages or price increases.
Enfora And Smart Management Collaborate On Supply Chain Asset Tracking & Management For The Oil & Gas Industry (SupplyChainSolutions - SupplyChainMarket)
Enfora, a provider of intelligent wireless networking solutions, and Smart Management, a leader in automating supply chain management for oil and gas, today announced a joint initiative to enable the wireless tracking and monitoring of assets and equipment in the oil & gas supply chain
Canadian Oil Sands Trust, TransCanada: Canadian Equity Preview (Bloomberg)
March 11 (Bloomberg) -- Shares of the following companies may have unusual moves in Canadian trading . Stock symbols are in parentheses. Canadian Oil Sands Trust (COS-U CT): The province of Alberta said it will reduce oil and gas royalties in January.
FACTBOX-Neste Oil's growing palm oil use for biofuels (Reuters via Yahoo! Philippines News)
KUALA LUMPUR, March 12 (Reuters) - Neste Oil could buy 2.4 million to 2.5 million tonnes of vegetable oils for four biofuel plants, putting the Finnish refiner on par with consumer goods giant Unilever as a top vegetable oil buyer.
Hamish McRae: So you think we live in a two-tier system now? It will get a lot worse (Independent)
It is time to stand back. We do now at last have a Budget date, Wednesday week, and with it we have in effect the start of the election campaign.
PetroVietnam Gas inks $1bn pipeline
PetroVietnam Gas has signed a $1bn business co-operation contract to build and operate a pipeline running from the gas fields off Vietnam's southern coast to the Mekong Delta
Energy: A foot on the gas
Energy: Enthusiasm for shale deposits – part of a wider revival for a fuel that could cut carbon emissions and transform global politics – is tempered by risks to investors
Japanese groups creep into Africa
Executives may struggle to adjust to local ways of doing business after belatedly joining the scramble for resources and economic influence on the continent
Devon deal is key to BP growth targets
For BP's chief executive, the $7bn deal for a set of assets from Devon Energy of the US, including licences in waters off the coast of Brazil, is a satisfying move. It also looks like a vindication of BP's much criticised business model
India's ONGC and Russia in energy pact talks
India's Oil and Natural Gas Corp is in talks with Gazprom and Rosneft over taking equity stakes in oil and gas projects to help cement an energy partnership
Exxon to invest $28bn in 2010
ExxonMobil, the world's biggest publicly listed oil company, committed to $28bn in capital spending in 2010 and a range of $25bn to $30bn in investment per year on average through 2014
UK results: Morrison to continue expansion
Thursday's UK results round-up: WM Morrison outlines its plans to continue its expansion programme and JD Wetherspoon posts record half-year profits
BP / Devon
Welcome to the party! BP has long wanted to get into Brazil, so now it is taking over the US independent's assets in deep sea waters off the coast
BP strikes $7bn Brazil oil deal
The energy group is set to make its first move into the deep waters off the South American country with a $7bn deal to buy oil and gas assets put up for sale by Devon Energy of the US
Shell halts supplies to Iran
The company's withdrawal is the latest sign that the threat of sanctions and Washington's behind-the-scenes efforts to convince companies not to sell to Iran are paying off
| Brent oil prices |
Light oil prices |
AOS-Orwell invest $5million equipment in Ghana's oil industry (Ghanaweb.com)
Accra, March 13, GNA - Two multi-national oil field service providers- Africa Oilfields Service Limited (AOS) and Orwell International (Oil&Gas) Limited, have committed $5million worth of equipment to Ghana's oil and gas industry.
Some worry that closing refineries is a ploy by oil firms to drive up profit margins (Standard-Examiner)
Some of the nation's biggest oil companies are looking at permanently reducing how much gasoline and diesel fuel they make, a move that analysts say would almost certainly trigger higher prices for drivers. read more
Enfora And Smart Management Collaborate On Supply Chain Asset Tracking & Management For The Oil & Gas Industry (SupplyChainSolutions - SupplyChainMarket)
Enfora, a provider of intelligent wireless networking solutions, and Smart Management, a leader in automating supply chain management for oil and gas, today announced a joint initiative to enable the wireless tracking and monitoring of assets and equipment in the oil & gas supply chain
Friendly Energy Exploration Makes First Sale of Oil (Marketwire)
CARSON CITY, NV--(Marketwire - March 12, 2010) - Friendly Energy Exploration ( PINKSHEETS : FEGR ) is pleased announce that the company has sold its first shipment of oil after about a month's delay due to inclement weather. This is a significant milestone for the company. The company has worked hard this past month working out the logistics and preparing the equipment to begin weekly sales of ...
RDO Equipment Opens New Store in Williston (KQCD-TV Dickinson)
All of the oil activity in the region has been attracting several companies to move to Williston, and RDO Equipment is no exception to that trend. RDO, which is the largest John Deere dealer in the world, helps contractors as well as farmers and producers with their equipment needs.
Red Line Oil to Sponsor Karting Championship at Infineon Raceway (PRWeb)
Red Line Oil announces sponsorship of 10-race Red Line Oil Karting Championship at Infineon Raceway's Jim Russell International Karting Center in Sonoma, California, beginning March 21, 2010. (PRWeb Mar 13, 2010) Read the full story at http://www.prweb.com/releases/2010/03/prweb3725294.htm
735 cars drop off hazardous waste during Columbus cleanup (Columbus Ledger-Enquirer)
More than 700 Muscogee County residents got rid of their old computer printers, paint buckets, motor oil and more Saturday during a cleanup event for hazardous household waste and electronic equipment.
Oil well dry, no lease cash for county (The Coldwater Daily Reporter)
The well is dry, and lease money Branch County might have received regarding land on Marshall Road adjacent to Joe and Frances Gaglio Trust property will not materialize. County Administrator Bud Norman informed the county house committee meeting Thursday morning at the courthouse that according to Lucas Exploration, the oil rig and equipment has been removed, and the land at the site will be ...
Red Line Oil to Sponsor Karting Championship at Infineon Raceway (PRWeb via Yahoo! News)
Red Line Oil announces sponsorship of 10-race Red Line Oil Karting Championship at Infineon Raceway's Jim Russell International Karting Center in Sonoma, California, beginning March 21, 2010.
GE Oil & Gas Power Generation And Subsea Equipment Wins Bring Gorgon Project Awards To Over $1.1B (OilandGasOnline)
GE Oil & Gas technology has again been selected to support the development of Gorgon, one of the world's largest untapped natural gas fields, which also features one of the world's largest ever carbon-dioxide (CO2) sequestration technology projects
China’s oil demand surges 28% in January
The International Energy Agency (IEA) has revealed China’s demand for oil soared by an “astonishing 28% year-on-year in January”. According to the IEA, global oil demand this year will be fuelled by non-OECD countries – with non-OECD Asia representing half of all growth. China’s thriving economy has seen oil imports surge and earlier this week, OPEC said [...]
Crude dips as Chinese inflation reaches 16-month high
Crude oil dipped below $82 a barrel yesterday as the markets digested a rise in Chinese inflation. Official data revealed Chinese consumer prices reached a 16-month high last month - the fourth straight monthly rise. The National Bureau of Statistics said consumer price inflation rose to 2.7% in February compared with a year earlier and up from [...]
BP in $7bn deal with Devon Energy
Oil giant BP has announced a deal with US independent oil and gas producer Devon Energy Corp which will allow it to begin exploring off the coast of Brazil. The deal, worth $7 billion (£4.7 billion), includes almost a dozen exploration blocks in Brazil, which comprises some of the world’s biggest deepwater oil fields. It [...]
EIA: US crude stockpiles up less than expected
Crude oil prices varied during the session Wednesday after the US Energy Information Administration said that oil inventories were up 1.4 million barrels last week to 343 million barrels, not as much as the 2.1 million barrel gain which had been expected. Prices rose and fell and by afternoon trade in New York April contracts for [...]
Oil jobs at risk in Chevron sale
Chevron, which is the second biggest US oil company, announced today it is looking for a buyer for its refinery in Pembrokeshire. The oil giant, which owns the Texaco filling stations brand, is allowing up to two years for the sale but has told Sky News today that it could not rule out shutting the plant [...]
Oil prices hit $82.41 extending last week’s gains
Positive economic data has resulted in a rise in US crude oil today to $82.41 extending last week’s gains. Oil has risen by 18% since early February since investors have become more optimistic that an improvement in the global economy would increase demand for oil. Meanwhile, Brent North Sea crude for April rose 73 cents to $80.62 [...]
Crude prices gain despite higher US inventories
The US Energy Information Administration reported Wednesday in its weekly inventories report that crude oil in US storage added 4.1 million barrels last week to 341.6 million barrels, above the expected build of 1.1 million barrels but 3.7 percent below stockpiles last year at this time. Additionally, the EIA said that gasoline inventories were up by [...]
Crude prices gain on better sentiment
Crude oil prices were higher Tuesday as investors were more optimistic that a plan to help the Greek economy will be forthcoming soon. Additionally, there were hopes that demand will improve, while the US dollar weakened to make oil less expensive for buyers making purchases with other currencies. The Energy Information Administration’s weekly US inventories report is [...]
Crude oil prices rise despite gains in US inventories
Crude oil prices were higher Thursday even after the US Energy Information Administration reported that crude inventories added 3.1 million barrels last week, up more than the expected gain of 1.65 million barrels. At around 1 p.m. in New York, March contracts for West Texas Intermediate crude were up 83 cents to $78.16 per barrel on [...]
Crude prices up but US retail gasoline still falling
Crude oil prices were higher Tuesday after a new report showing that manufacturing activity is on the rise in the New York region and on a weaker US dollar that made purchases in other currencies cheaper for buyers. In midday trade in New York, March contracts for West Texas Intermediate crude had added $2.82 to $76.95 [...]
