Home oil

Category: oil

Post
Aramco valuation falls short of crown prince’s $2 trillion target

Aramco valuation falls short of crown prince’s $2 trillion target

Saudi Arabia put a valuation on state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion. Saudi Aramco recently honored a number of local manufacturers distinguished for offering high-quality products. $2 trillion target sought by Crown Prince Mohammed bin Salman since he first mooted an initial public offering in 2016. Saudi Aramco is participating...

Post
Venezuela using ‘dark ships’ to secretly export millions of barrels of oil

Venezuela using ‘dark ships’ to secretly export millions of barrels of oil

The Dragon, a massive oil tanker flying the Liberian flag, is supposed to be floating somewhere off the coast of France. Venezuela has expelled El Salvador’s diplomats in a tit-for-tat response after El Salvador. Venezuela has won a seat on the United Nations Human Rights Council. Instead, it’s currently thousands of miles away in Venezuela....

Post
Shell says it’ll stay in Canada while other oil majors flee

Shell says it’ll stay in Canada while other oil majors flee

Royal Dutch Shell is reassuring investors, workers, and anyone else who will listen that it’s the international oil major. Consortium announces oil and gas production start at P-68 FPSO located at BM-S-11-A concession in Berbigão, Sururu. Royal Dutch Shell plc announces the commencement of trading in the next tranche of its share buyback programme. Shell’s...

Post
EPA and FERC chiefs brief independent producers on administration achievements, policies

EPA and FERC chiefs brief independent producers on administration achievements, policies

Late last week on Day 2 of its annual meeting and 90th anniversary with Independent Petroleum Association. The Federal Energy Regulatory Commission has issued an order cancelling the preliminary permit. America (IPAA) heard from the respective heads of the EPA and FERC on how Trump administration policies are benefitting. The Federal Energy Regulatory Commission (FERC)...

Post
ADNOC to launch futures exchange for its Murban crude

ADNOC to launch futures exchange for its Murban crude

Intercontinental Exchange, Inc., a leading operator of global exchanges and clearing houses and provider of data and listings services. Abu Dhabi National Oil Company (ADNOC) announced on last Wedneday a significant investment. Agreement will focus on the sale of refined products from ADNOC to Rongsheng, downstream investment opportunities. It will launch a new exchange, ICE...

Post
Emerson launches IIoT-enabled Connected Services to support multiphase flow meters in unconventional shale

Emerson launches IIoT-enabled Connected Services to support multiphase flow meters in unconventional shale

Oil and gas producers have a new means of optimizing wellhead production that lowers operating costs. Emerson’s new ASCO Series 273 Pneumatic Pinch Valve features an innovative design for improved tube retention. ASCO valves simplify identification and replacement of existing valves with lead-free brass models. Company thanks to a newly launched service from Emerson that...

Post
ExxonMobil taps SBM Offshore for third Guyana FPSO

ExxonMobil taps SBM Offshore for third Guyana FPSO

ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded SBM Offshore contract. ExxonMobil and SABIC announced the decision to proceed with the construction of a chemical facility. National and international energy and environmental security can be achieved through policies. It perform Front End Engineering and Design (FEED) for an FPSO for the Payara...

Post
U.S. oil production growth in for a ‘major slowdown,’ says IHS Markit

U.S. oil production growth in for a ‘major slowdown,’ says IHS Markit

The chief source of rapid growth that made the United States the world’s largest oil producer. IHS Markit is a world leader in critical information, analytics and solutions. United States wind operations and maintenance annual spending is expected to increase to more than $7.5 billion by 2030. The new IHS Markit outlook for oil market...

Post
Shell buys offshore wind developer in renewable power expansion bid

Shell buys offshore wind developer in renewable power expansion bid

Shell has agreed to buy French offshore wind developer Eolfi SA. Company announces the commencement of trading in the next tranche of its share buyback programme. Company introduces the publication of a quarterly update, starting with the third quarter 2019. Completion follows receipt of all necessary regulatory consents. It continuing its expansion into renewable power....

Post
OPEC predicts U.S. shale will steal market share for years to come

OPEC predicts U.S. shale will steal market share for years to come

OPEC slashed estimates for the amount of oil it will need to pump in coming years. OPEC will supply a diminishing amount of oil in the next five years. Brent crude futures fell 39 cents, or 0.6%, to $60.78 a barrel by 0111 GMT. It projecting that its share of world markets will shrink until...