Author: Oilconvo News
India’s top refiner plans $22 billion expansion over five years
Indian Oil Corp plans to invest 1.43 trillion rupees ( billion) in next five years as the country’s top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030, its head of refineries said on Saturday. Read Full Article Here: https://www.reuters.com/article/us-india-ioc/indias-top-refiner-plans-22-billion-expansion-over-five-years-idUSKBN1H70CW
As shale wells grow longer, buyouts attract hemmed in oil producers
A recent drought in oil company mergers and acquisitions could be coming to an end over a new Texas range war: U.S. shale producers are building miles-long horizontal wells that are running into their rivals’ land holdings. Read Full Article Here: https://www.reuters.com/article/us-usa-oil-permian/as-shale-wells-grow-longer-buyouts-attract-hemmed-in-oil-producers-idUSKBN1H61FW
U.S. oil drillers cut rigs for first week in three -Baker Hughes
As reported by Reuters, U.S. energy companies this week cut oil rigs for the first time in three weeks even as crude prices hover near three-year highs. Drillers cut seven oil rigs in the week to March 29, bringing the total count down to 797, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Thursday. While this is interesting news given the cut is at ...
Crude Rebounds as OPEC Hints at Longer Oil Output Cuts
Oil climbed as top crude-exporting countries suggest they may extend output curbs beyond this year, adding momentum to a monthly rebound. Read Full Article Here: https://www.bloomberg.com/news/articles/2018-03-29/oil-rebounds-as-iraq-says-some-in-opec-suggested-prolonging-deal
OPEC, Russia consider 10-20 year oil cooperation: Saudi Crown Prince
OPEC is seeking a long-term deal to cooperate on oil output controls with Russia and other non-OPEC producers, said Saudi Crown Prince Mohammed bin Salman. Read Full Article Here: https://www.cnbc.com/2018/03/27/opec-russia-consider-10-20-year-oil-cooperation-saudi-crown-prince.html
Trump security pick John Bolton likely to turn up heat on Iran and drive up oil prices
President Trump’s pick for national security advisor signals a willingness by the administration to take a more hard-line stand against adversaries like Iran or Venezuela—and that could mean higher oil prices. Read Full Article Here: https://www.cnbc.com/2018/03/23/bolton-likely-to-turn-up-heat-on-iran-and-boost-oil-prices.html
Shale Gas May Rescue Appalachian Economies If It Can Win Public Acceptance
A new study that the manufacturing sector could earn superior returns if it invested more in Utica and Marcellus Shale regions as opposed to the Gulf Coast, citing an abundance of shale gas that is closer to the consuming public. Is this the path to economic freedom or a well of future problems? Read Full Article Here: https://www.forbes.com/sites/kensilverstein/2018/03/23/shale-gas-may-rescue-app...
TechnipFMC and Magma Global to Enter into a Strategic Collaboration Agreement for Hybrid Flexible Pipe
LONDON & PARIS & HOUSTON–(BUSINESS WIRE)–TechnipFMC (NYSE:FTI) (PARIS:FTI) has agreed the terms of a collaboration agreement with Magma Global Ltd. to develop a new generation of hybrid flexible pipe (HFP) for use in offshore applications. HFP is expected to provide increased strength and fatigue performance, while also achieving dramatic weight and cost reductions, for subsea ...
Sleepwalking Into The Next Oil Crisis
As the world entertains scenarios of peak oil demand, many agencies are warning that the far greater threat of an oil supply crunch looms. Read Full Article Here: https://www.forbes.com/sites/rrapier/2018/03/23/is-the-world-sleepwalking-into-an-oil-crisis/#434ed3b944cf
Top India Refiner Considers Investing $3.5 Billion to Expand
India’s biggest oil refiner Indian Oil Corp. is planning to invest as much as .5 billion in the year beginning April 1, or about a fifth more than the previous year, to expand and upgrade its refineries and boost its marketing network, according to people with knowledge of the matter. Read Full Article Here: https://www.bloomberg.com/news/articles/2018-03-22/top-india-refiner-said-to-mull-investin...
OPEC Curbs Oil Shipments To U.S. Refiners
U.S. refiners are receiving smaller shipments of oil from members of the Organization of Petroleum Exporting Countries (OPEC) due to the bloc’s production cut agreement, according to a new report by Bloomberg. Weekly crude imports from seven bloc nations dropped by 14 percent last week, the Energy Information Administration said. The fall brings import levels down to the lowest since 2010, when th...
For The First Time In 60 Years – The U.S. exported more natural gas than it imported in 2017
A new report out from the U.S. Energy Information Administration (EIA) is highlighting the natural gas sector and the growing export opportunities that the U.S. domestic industry are opening up. For the first time since 1957 The United States exported more natural gas than it imported in 2017. The transition to net exporter occurred as natural gas production in the United States continued to grow,...