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Statoil is studying the use of unmanned platforms, which are new to Norway but have been used in Denmark and the Netherlands, for other projects, including at the giant Johan Sverdrup field, Aasheim said.
U.S. oil producer Halcón Resources says it’s planning to cut its investment spending in half next year in a “tempered approach” amid low crude prices, driving its energy output down.
The annual scorecard grades 30 oil and gas companies for disclosures on five criteria: toxic chemicals, water and waste management, air emissions, community impacts, and management accountability.
Though current oil prices are projected to help curb U.S. production by more than half a million barrels a day next year, so far the nation’s rig count and domestic oil-company spending plans are too high to ease the global oil glut and lift prices by the end of next year. So, crude prices may have to plunge to $20 a barrel, Goldman said.
Putin is facing one of the toughest challenges of his almost 16-year-rule as oil trades close to levels last seen during the global financial crisis, prolonging Russia’s economic downturn and stoking inflation while incomes fall by the most since he came to power.
One hundred-and-twelve years after the first successful gasoline-powered airplane flight by the Wright Brothers, and the crude complex is trying to gain ground after yesterday’s liftoff from the Fed. The US dollar has some wind beneath its wings today, seeing some momentum in response to yesterday’s US interest rate hike. This in turn is providing […]
By allowing American oil to compete globally, the price for U.S. benchmark West Texas Intermediate crude is inching closer to the international marker Brent, which has traded at a premium for most of the past five years.
From being the world’s fifth-most valuable oil producer at its zenith in 2012, worth more than BP Plc, state-controlled Ecopetrol SA now ranks 38th.
The House and Senate on Tuesday evening reached a deal on tax and spending plans that included an end to the oil-trade limits that were implemented in 1975 after the Arab oil embargo.
The U.S. Energy Information Administration said domestic oil tanks last week took in an additional 4.8 million barrels of crude, boosting inventories to 490.7 million barrels. That’s the largest amount of oil the nation has had in reserve since a record-setting supply bulge in April.