Refining

North Korea still evading petroleum sanctions: US' Pompeo

18 hours ago DieselGasoil Comments Off on North Korea still evading petroleum sanctions: US' Pompeo
Washington — North Korea continues to evade international sanctions on petroleum exports, mainly through illegal ship-to-ship transfers, thus undermining denuclearization efforts, US Secretary of State Mike Pompeo said Friday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “When sanctions are not enforced, the prospects for the successful denuclearization are Read More

TGS announces expansion of onshore seismic project in Canada

20 hours ago DieselGasoil Comments Off on TGS announces expansion of onshore seismic project in Canada
7/20/2018 HOUSTON — TGS announces expansion of its 2018 onshore seismic survey Dawson Phase II in Canada. Following additional client commitments, TGS is expanding its Dawson Phase II 3D by approximately 150 km2. The expansion is to the east of the previously announced program and extends from the province of British Columbia into Alberta. Dawson Read More

Offshore activity pickup expected going forward: Schlumberger, Baker Hughes/GE CEOs

20 hours ago DieselGasoil Comments Off on Offshore activity pickup expected going forward: Schlumberger, Baker Hughes/GE CEOs
Highlights Development still dominates offshore sector, but more exploration seen Offshore exploration, drilling spend should be up 12% this year: Schlumberger More offshore production orders seen in 2018-2019: Baker Hughes CEO Houston — Schlumberger and Baker Hughes both see pickups in the lagging offshore sector going forward, their CEOs said Friday, adding that three years Read More

Lukoil takes FID on Rakushechnoye project, in the Caspian Sea

21 hours ago DieselGasoil Comments Off on Lukoil takes FID on Rakushechnoye project, in the Caspian Sea
7/20/2018 MOSCOW — Lukoil took the final investment decision on the Rakushechnoye field development project in the Caspian Sea. The field infrastructure under the taken decision includes a fixed offshore ice-resistant platform, a living quarters platform, a crossover bridge, as well as subsea interfield pipelines and cable lines for the connection with the second fixed Read More

Shell in talks to sell $2-billion Nigeria oil assets

22 hours ago DieselGasoil Comments Off on Shell in talks to sell $2-billion Nigeria oil assets
By Kelly Gilblom and Dinesh Nair on 7/20/2018 LONDON (Bloomberg) — Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan. The Anglo-Dutch oil major is discussing selling oil Read More

Oil set for weekly drop as Trump issues new trade threats

22 hours ago DieselGasoil Comments Off on Oil set for weekly drop as Trump issues new trade threats
By Robert Tuttle on 7/20/2018 CALGARY (Bloomberg) — Oil headed for a third weekly loss amid concern escalating trade rows would undercut energy demand, undermining reassurances from Saudi Arabia that it won’t flood global crude markets. Futures pared gains in New York on Friday as President Donald Trump said that he’s “ready to go” with Read More

Saudi Arabia keeps status quo on oil exports, but supply risks still abound

23 hours ago DieselGasoil Comments Off on Saudi Arabia keeps status quo on oil exports, but supply risks still abound
London — The pressure on Saudi Arabia to pump more crude has lessened over the past few weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The kingdom has boosted its production by almost 500,000 b/d from May levels and deemed that sufficient to meet the market’s needs for Read More

Schlumberger, Baker Hughes cruise oil exploration “upcycle”

1 day ago DieselGasoil Comments Off on Schlumberger, Baker Hughes cruise oil exploration “upcycle”
By David Wethe on 7/20/2018 HOUSTON (Bloomberg) — Schlumberger Ltd., the world’s biggest oilfield services company, and No. 3 Baker Hughes have their sights set in different directions as they move into the second-half of 2018. Schlumberger is accelerating sales in North America faster than any other region as it battles fracing king Halliburton Co. Read More

Saudis pump more oil for Trump, then doubt if it's needed

1 day ago DieselGasoil Comments Off on Saudis pump more oil for Trump, then doubt if it's needed
By Grant Smith and Javier Blas on 7/20/2018 LONDON (Bloomberg) — Under pressure from U.S. President Donald Trump, Saudi Arabia has rushed to boost oil production — only to discover that global markets might not yet need it. The kingdom’s crude output surged the most in three years last month, as Trump demanded his ally’s Read More

China chasing elusive shale boom nearly a decade after hunt began

1 day ago DieselGasoil Comments Off on China chasing elusive shale boom nearly a decade after hunt began
By Bloomberg News on 7/20/2018 BEIJING (Bloomberg) — China’s shale gas industry began with a long shot. Guo Xusheng, a stout and affable chief geologist at a unit of China Petroleum & Chemical Corp., persuaded his bosses in 2009 to give him about $3 million to drill deeper than anyone had before in southwestern China. Read More