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crude oil

Oil prices rose on Friday but were heading for yet another weekly decline as concerns intensified that trade disputes and slowing global economic growth could hit demand for petroleum products. more

Refining/Petrochemical

Chinese oil importers are shying away from buying U.S. crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary. more

Refining/Petrochemical

Tallgrass Energy, LP announced plans to develop a new crude oil pipeline from Cushing, Okla., to the St. James, La., refining complex, as well as a separate new export-capable liquids terminal strategically located near the mouth of the Mississippi. more

Pipeline/Transportation

Enterprise Products Partners LP said on Wednesday it would expand its Seaway crude pipeline system capacity to about 950,000 barrels per day (bpd) from 850,000 bpd. more

Pipeline/Transportation

Oil prices rose by over 1 percent toward $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months. more

Refining/Petrochemical

In the June 2018 update of its Short-Term Energy Outlook (STEO), EIA forecasts Brent crude oil prices will average $71 per barrel (b) in 2018 and $68/b in 2019. more

Refining/Petrochemical

Oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer group OPEC could relax voluntary output cuts. more

Drilling & Exploration

U.S. oil fell nearly 2 percent on Thursday, despite a larger-than-expected decline in U.S. crude inventories, while global benchmark Brent was little changed, pushing the spread between the two to its widest in more than three years. more

Refining/Petrochemical

Louisiana Offshore Oil Port (LOOP) LLC has successfully completed the first Very Large Crude Carrier (VLCC)...Shale Support Holdings LLC has opened its newest exclusive terminal in Gibsland, Louisiana...Eco-Energy Distribution Services has opened... more

Tanks/Terminals/Storage

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

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