RSS

Oil

In its July 2019 edition of the Short-Term Energy Outlook (STEO), EIA forecasts that global liquid fuels consumption, which averaged 99.9 million barrels/day (b/d) in 2018, will grow by 1.1 million b/d in 2019 and by 1.4 million b/d in 2020. Read more

Commodities

Oil prices eased off early gains on Thursday as OPEC forecast slower demand for its crude next year, but crude futures hovered at near the highest in more than a month as oil rigs in the Gulf of Mexico were evacuated ahead of a storm. Read more

Commodities

Brazil’s Petroleo Brasileiro SA is reorganizing its trading business, the company told Reuters on Monday, as the state-run oil firm seeks to best take advantage of an expected increase in oil and gas exports. Read more

Commodities

Deepwater and tight oil are two of the upstream sector’s great growth themes, but are often considered to be at opposite ends of the development spectrum. Read more

Offshore & Marine

Oil rose more than 3% toward $64 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington. Read more

Commodities

US oil production keeps accelerating towards new highs. New records are expected both when the final numbers for May emerge and at the end of the year. Read more

Refining & Petrochemical Processing

Oil prices fell in volatile trade on Wednesday, weighed down by equity markets as China signaled readiness to escalate the trade war with the United States, stoking concerns that an ongoing stand-off could hurt demand. Read more

Commodities

Canada is the largest energy trading partner with the United States based on the combined value of energy exports and imports. Read more

Commodities

The new portfolio of Ingersoll Rand® ATEX-certified impact wrenches and drills includes seven heavy-duty pneumatic tools for use in hazardous atmospheres. Read more

New Products & Services

Oil futures inched up on Wednesday as the prospect of mounting tensions in the Middle East hitting global supplies overshadowed an unexpected build in U.S. crude inventories. Read more

Commodities

In June 2016, the Panama Canal Authority, the body that operates the Panama Canal, opened a third set of locks that facilitated transit of larger ships, the first such expansion since the canal was completed in 1914. Read more

Offshore & Marine

Poland and Germany have suspended imports of Russian oil via a major pipeline, citing poor quality and triggering a rare crisis over supply from the world’s second-largest crude exporter. Read more

Pipeline/Transportation

Oil prices hovered around six-month highs on Wednesday after data showing rising U.S. stocks countered fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran. Read more

Commodities

Norway had the highest number of oil and gas discoveries globally in the first quarter (Q1) of 2019 with five discoveries. Read more

Drilling & Exploration

Energy trade accounted for 12% of the value for all U.S. exports to Mexico and 5% of all U.S. imports from Mexico in 2018. Read more

Refining & Petrochemical Processing

Growing production of Texas super-light oil - and worries about its quality compared with other types of crude - is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply and adding to a glut in Texas. Read more

Commodities

Gross inputs to U.S. petroleum refineries, also referred to as refinery runs, averaged 17.3 million barrels per day (b/d) in 2018, the highest annual average on record and the fifth consecutive year of record-high refinery runs. Read more

Refining & Petrochemical Processing

Ultrasonic testing (UT) and nondestructive technology have been used to test the integrity of tank welds for several years. Read more

Health, Safety & Environmental

Crude oil prices in the Permian region have increased since the beginning of the year as two recent pipeline capacity additions reduced some of the takeaway constraints that developed in the middle of 2018. Read more

Pipeline/Transportation

Petroleum refineries in the U.S. Gulf Coast increasingly rely on merchant suppliers, rather than their own production, to provide the hydrogen used to reduce the sulfur content of fuel. Read more

Refining & Petrochemical Processing

Heading into the 2018 Memorial Day weekend, regular gasoline prices averaged $2.92 per gallon (gal) nationally on May 21, up from last year’s price of $2.40/gal before the holiday weekend. Read more

, , , Natural Gas/LNG

Subscribe to our mailing list

* indicates required
BIC Magazine Enewsletters
Recruiting