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crude oil

Oil prices rose on Friday stayed below recent highs as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. more

Refining/Petrochemical

U.S. President Donald Trump criticized OPEC on Friday for output curbs that have helped raise global oil prices and said “artificially” high prices would not be accepted. more

Refining/Petrochemical

U.S. shale oil production is expected to increase in May for the fourth consecutive month, U.S. Energy Information Administration data showed on Monday, boosted by record production in the prolific Permian Basin of West Texas and New Mexico. more

Refining/Petrochemical

Analysis of the US Gulf of Mexico’s crude oil production shows that over $40.3bn in capital expenditure will be spent by the US Gulf of Mexico on oil projects between 2018 and 2021. more

Engineering, Procurement & Construction

Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 or higher and sulfur content of 0.3% or less. more

Drilling & Exploration

The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude have filled up more quickly than expected. more

Drilling & Exploration

Annual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase of 464,000 b/d from 2016 levels after declining by 551,000 b/d in 2016. more

Drilling & Exploration

Oil prices are likely to rise this year thanks to supply disruptions and an OPEC-led deal to limit production, but doubts over the future of compliance with the multilateral agreement and rising U.S. production could stem the upward momentum... more

Refining/Petrochemical

Oil rose towards $70 a barrel on Monday, lifted by a drop in drilling activity in the United States and concerns that Washington could reintroduce sanctions against Iran. more

Drilling & Exploration

Over $811B will be spent on 615 upcoming oil and gas fields between 2018 and 2025. Globally, capex into conventional oil, heavy oil, oil sands and unconventional oil projects would add up to $352bn, $44bn, $43.4bn and $30bn respectively. more

Engineering, Procurement & Construction

Oil prices slipped on Thursday as another rise in U.S. inventories and production outweighed the prospect of OPEC sticking to its output curbs for the rest of the year. more

Refining/Petrochemical

Oil fell day as investors took profit on a rally the day before to this year’s highs after a report showed a surprisingly large increase in U.S. crude inventories. more

Refining/Petrochemical

Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData, a leading data and analytics company. more

Offshore & Marine

Wood has been selected to develop the world’s largest fully integrated crude oil to chemicals (COTC) complex in the Kingdom of Saudi Arabia, on behalf of Saudi Aramco and SABIC as the first PMC contractor. more

Refining/Petrochemical

U.S. crude oil exports grew to an average of 1.1 million b/d in 2017. Crude oil exports in 2017 were nearly double those of 2016. Increase of U.S. crude oil exports were supported by increasing U.S. crude oil production and expanded infrastructure. more

Refining/Petrochemical

Energy trade between Mexico and the United States has historically been driven by Mexico’s sales of crude oil to the United States and by U.S. exports of refined petroleum products to Mexico. more

Natural Gas

According to Aaron Brady, Senior Director, Energy for IHS Markit, the United States’ crude exports are “going to get bigger and bigger,” as long as U.S. production continues to grow. more

Midstream

Energy executives say the Trump administration’s proposed steel and aluminum tariffs could bump up the cost of big-ticket projects needed for rapidly rising U.S. shale oil and gas output by three to 10 percent. more

Drilling & Exploration

Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. more

Refining/Petrochemical

EIA expects a 40% increase in natural gas consumed in the U.S. industrial sector, from 9.8 quadrillion British thermal units (Btu) in 2017 to 13.7 quadrillion Btu in 2050, according to the Annual Energy Outlook 2018(AEO2018) Reference case. more

Natural Gas

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