OPEC determined to reduce its production to manage market ISTANBUL, Feb 23 (Reuters) – Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non-OPEC producers, the semi-official Fars news agency reported. “If […]
Iran says oil prices over $55 per barrel harmful for OPEC: Media Read More »
US crude stocks up, gasoline stocks fall By Devika Krishna Kumar NEW YORK, Feb 23 (Reuters) – U.S. crude oil stockpiles rose last week for a seventh straight week but less than forecast, while gasoline inventories fell far more than expected as refineries cut output, the Energy Information Administration said on Thursday. Crude inventories rose
US crude stocks build for seventh straight week – EIA Read More »
Chesapeake Energy results hurt by lower volumes, prices Feb 23 (Reuters) – Shares in U.S. natural gas producer Chesapeake Energy Corp fell on Thursday after posting a smaller fourth-quarter loss than a year earlier, when it took huge charges to write down the value of some oil and gas assets. Results were hurt by lower
Chesapeake Energy posts smaller quarterly loss Read More »
Oil prices near top of $4 trading ranges By Catherine Ngai NEW YORK, Feb 23 (Reuters) – Oil prices rose on Thursday but gains were pared after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC’s move to cut output. Benchmark Brent crude oil rose 74 cents
Oil prices up but gains pared after 7th straight stock build Read More »
Fate of biofuels program rests with Scott Pruitt, critic of RFS By Chris Prentice NEW YORK, Feb 23 (Reuters) – Oil companies showed deepening divides on the future of the U.S. biofuels program in solicited comments from the Environmental Protection Agency (EPA) over a plan sought by some refiners to shift the program’s financial burden
Oil industry infighting heats up as EPA weighs biofuels rule change Read More »
Need to update existing and new software will drive demand for software services in global digital oilfield market According to the latest market study released by Technavio, the global digital oilfield market size is projected to grow to USD 32.33 billion by 2021, at a CAGR of close to 5 per cent over the forecast period. This research
Brent prices have been very stable at around $55.50 +/- $1.50 since the middle of Dec. US shale producers are growing production again, renewing the challenge to OPEC’s market share and potentially limiting further increases in oil prices during 2017/18. US crude and condensate production increased in both Oct. and Nov., the first back to back increases since early
US shale revival likely to cap oil price gains: Kemp Read More »
China built its first methanol-to-gasoline plant in 2010, with 10 more since China is the global leader in methanol use and has recently expanded methanol production capacity. Since the early 2000s, China’s methanol consumption in fuel products has risen sharply and is estimated to have been more than 500,000 b/d in 2016, according to the US
China’s use of methanol in liquid fuels has grown rapidly since 2000 Read More »
Most increase in natural gas trade from LNG exports The United States is expected to become a net exporter of natural gas on an average annual basis by 2018, according to the recently released Annual Energy Outlook 2017 (AEO2017) Reference case. The transition to net exporter is driven by declining pipeline imports, growing pipeline exports, and
LNG exports expected to drive growth in US natural gas trade Read More »
Integrated research program will be performed at both WRI in Wyoming and at Olds College, Alberta CleanCarbon Energy Inc., a Calgary-based company engaged in sustainable energy technology commercialization, has reached an agreement in principle with Western Research Institute (WRI) to jointly develop a family of carbon dioxide (CO2) to energy conversion processes. In the agreement, WRI
Calgary-based CleanCarbon Energy in deal to develop CO2 to energy conversion tech Read More »
