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Iran, Saudi supply worries offset U.S. supply growth

Iran, Saudi supply worries offset U.S. supply growth

While the U.S. sprung into action to offset oil deficits, prices took an upward spike in a rather cautious trade on Tuesday, fuelled by brewing concerns over impending U.S sanctions on Iran and rising tensions with ally and top oil exporter Saudi Arabia. Tensions have not been unconnected to missing writer Jamal Khashoggi, whose disappearance,...

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Lukoil signs MOU with Uzbekneftegaz

Lukoil signs MOU with Uzbekneftegaz

LUKOIL Overseas and Uzbekneftegaz, the national holding company, have started the supply of gas from the Khauzak area (Bukhara Region of the Republic of Uzbekistan) within the framework of implementation of the PSA for the Kandym-Khauzak-Shady-Kungrad project. The President of Lukoil, Vagit Alekperov and Uzbekneftegaz’s acting chairman of the board, Bahrom Ashrafhanov signed a memorandum...

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Crude set for weekly loss as supplies allay Saudi tensions

Crude set for weekly loss as supplies allay Saudi tensions

Russia has begun discussions with Exxon Mobil Corp. on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country. The talks could lead to increased cooperation between the U.S. energy giant and state-run Rosneft PJSC, Russian government officials said, asking not to be named discussing...

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Railroad CEO sees boom-time oil loads as pipeline pinch roils Canada

Railroad CEO sees boom-time oil loads as pipeline pinch roils Canada

TransCanada Corp’s decision this week to scrap its $12 billion Energy East pipeline and delays to other export pipeline projects look set to increase producers’ reliance on costly crude-by-rail to bring barrels to market. The run-up to oil-shipment levels last seen four years ago, when Canada’s benchmark crude price reached almost $90/bbl, comes as producers...

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UTEC extends surveying capabilities with new autonomous underwater vehicle launch and recovery system

UTEC extends surveying capabilities with new autonomous underwater vehicle launch and recovery system

UTEC Survey is one of the largest global independent surveying companies providing services across many industrial sectors including Oil and Gas, Energy, Renewable, Telecommunications, Civil Engineering, Construction, Petrochemical, and Minerals. Our focus is to provide our customers with high quality, cost-effective, leading edge technology solutions for offshore, onshore, and subsea project needs. Our wide range...

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Saudi Arabia Cancels 45-Year Taboo With Threat to Use Oil as a Weapon

Saudi Arabia Cancels 45-Year Taboo With Threat to Use Oil as a Weapon

If threats are anything to go by, Saudi Arabia may just have breached a long-standing orthodoxy of dissociating oil from oil politics. Following recent developments, Riyadh made statements that came across as a veiled threat to deploy the Kingdom’s oil wealth in a political warfare –  an unprecedented turn since the Arab embargo in 1973...

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Saturn Oil & Gas Inc. increases land position and provides operational update

Saturn Oil & Gas Inc. increases land position and provides operational update

Saturn Oil + Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) would like to provide an update on the Company’s recent land acquisition and Q1/2018 drill program. Saturn has closed its land acquisition with Whitecap Resources Inc. The Company has acquired one section of land with rights from base Colorado to base Mannville. The acquired...

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Production starts at Equinor’s Oseberg Vestflanken 2

Production starts at Equinor’s Oseberg Vestflanken 2

Equinor and partners started production from Oseberg Vestflanken 2 field in the North Sea using the first unmanned platform on the Norwegian Continental Shelf (OGJ Online, June 16, 2016). Remotely operated from the field’s center, the new Oseberg H platform is fully automatic and serves as a pilot, said Anders Opedal, Equinor’s executive vice-president for...

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Shell invests in cleaner fuel technology at Pernis refinery

Shell invests in cleaner fuel technology at Pernis refinery

The Royal Dutch Shell PLC is bringing major technology investment to Pernis, its integrated refinery and chemicals manufacturing plant, for the first time since 2011. In a move to stay competitive and enhance innovation, Shell has contracted for a solvent deasphalter (SDA) unit that will take cleaner fuel production to a greater level. With 404,000...

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Colorado House Majority Leader Says Prop 112 Unlikely to Pass

Colorado House Majority Leader Says Prop 112 Unlikely to Pass

Washington — Colorado’s oil and natural gas industry will likely defeat an effective drilling ban on November’s ballot, a key state lawmaker predicted Friday, but she cautioned that the effort would return stronger in 2020 if state legislators do not find common ground on regulating abandoned wells and other issues. House Majority Leader KC Becker...