Category: Crude oil

Crude oil steady as US cold underpins demand

The price of oil was little changed Friday, underpinned by demand stemming from arctic weather in the U.S.  More »

A highly positive initial reaction to Google Glass from the oil & gas industry…and some skepticism too

I shouldn’t have been surprised then that, despite the highly positive response I received towards my efforts, there were some skeptical comments, most revolving around the possibility of even taking Glass out into the field. Today still, cell phones for instance aren’t allowed in certain field areas: there would be catastrophic HSE consequences if a signal accidentally triggered a piece of equipment like a wireline gun.  More »

Oil below $103 as Chinese factory activity drops

U.S. retail gasoline prices continued their seasonal climb.  More »

Oil over $103 on winter demand, supply concerns

Natural gas for March delivery advanced 59.8 cents to $6.149 per million British thermal units.  More »

Drilling rig market finally improving in U.S., Nabors CEO says

Growing demand for walking rigs may finally improve the market for land drilling contractors in the U.S., the chief executive of Nabors Industries said Wednesday.  More »

Among “pharmacists”, engineers and ex-gangmembers, the oilfield is a great equalizer

In hindsight, some of the best parts about working in the field were the stories I accumulated. In my mind, one of the funniest stories actually happened on my very last job (well, so far in my career anyways) on a rig.  More »

Oil nears $103 on winter demand, supply concerns

The price of oil extended gains to near $103 a barrel Wednesday, driven by severe winter weather in the U.S. and supply concerns.  More »

Anadarko deal boosts investor confidence in face of large liabilities

Anadarko Petroleum’s deal to sell its stake in a Chinese offshore oil field should ease investors’ fears about environmental liabilities that could reach billions of dollars, analysts said Tuesday.  More »

U.S. cold, Chinese growth help lift oil above $102

The price of oil stayed above $100 a barrel Tuesday on expectations cold weather in the U.S. and steady Chinese growth will underpin demand.  More »

Speculators bullish on US oil as Keystone’s southern leg eases glut

Hedge funds became the most bullish on U.S. crude oil in more than five months as a new pipeline from Oklahoma to Gulf Coast refineries eased a supply bottleneck, driving prices above $100 a barrel.  More »

Chinese jeweler to buy Houston oil and gas firm

A Chinese jewelry maker has reached a deal to buy Houston oil and gas producer ERG Resources for a minimum $665 million, it said Monday.  More »

Rail oil shipping raises safety concerns in Albany

Opponents of a proposal to build boilers to liquefy heavy crude passing through Albany by rail are drawing attention to the capital’s emergence as a major hub for the transport of oil that’s widely considered risky from an environmental and safety standpoint.  More »