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China prepares its ‘nuclear option’ in trade war

10 hours ago DieselGasoil Comments Off on China prepares its ‘nuclear option’ in trade war
As the trade war continues to escalate, China is becoming increasingly active in Iran and is considering retaliating with what has long been described as the country’s ‘nuclear option’. For the first of these projects – Phase 11 of the supergiant South Pars non-associated gas field (SP11) – last week saw a statement from the chief executive Read More

BW Offshore: Approved by ANP as operator in Brazil and transfer of the participating interest in the Maromba field

11 hours ago DieselGasoil Comments Off on BW Offshore: Approved by ANP as operator in Brazil and transfer of the participating interest in the Maromba field
Approved by ANP as operator in Brazil and transfer of the participating interest in the Maromba field With reference to the stock exchange releases dated 8 and 14 March 2019. BW Offshore (BWO) is pleased to announce that The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) has granted BW Offshore status as Read More

Husky to Resume Full Production at White Rose

1 day ago DieselGasoil Comments Off on Husky to Resume Full Production at White Rose
CALGARY, Alberta, Aug. 16, 2019 (GLOBE NEWSWIRE) — Following an extensive investigation, flow line repairs, integrity testing and approval of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), Husky Energy (TSX:HSE) today announced it will resume production from the remaining two drill centres shut in following the November 2018 oil spill offshore Newfoundland and Labrador. Read More

Republican Iowa senator says Trump EPA ‘screwed us’ with biofuel waivers

1 day ago DieselGasoil Comments Off on Republican Iowa senator says Trump EPA ‘screwed us’ with biofuel waivers
WASHINGTON (Reuters) – Iowa’s Republican Senator Chuck Grassley said the Trump administration’s Environmental Protection Agency has “screwed” the U.S. ethanol industry and farmers by granting waivers to 31 small petroleum refineries, effectively exempting them from an obligation to use more ethanol in their products. FILE PHOTO: U.S. Senate Judiciary Committee Chairman Senator Chuck Grassley (R-IA) Read More

Oil rises alongside equities, but downbeat OPEC outlook caps gains

1 day ago DieselGasoil Comments Off on Oil rises alongside equities, but downbeat OPEC outlook caps gains
NEW YORK (Reuters) – Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick Oxford But oil’s gains Read More

GulfDrill JV inks $656 million jackup contract with Qatar Petroleum

1 day ago DieselGasoil Comments Off on GulfDrill JV inks $656 million jackup contract with Qatar Petroleum
8/16/2019 HAMILTON, BERMUDA – Seadrill and Gulf Drilling International have entered into a 50:50 joint venture, GulfDrill, which will initially manage and operate five premium jackups in Qatar with Qatar Petroleum commencing throughout 2020. Seadrill West Telesto The five firm, well-based contracts will have staggered commencements throughout 2020 with initial terms concluding in 2023 & Read More

Oil rises alongside equities, but weak OPEC outlook caps gains

1 day ago DieselGasoil Comments Off on Oil rises alongside equities, but weak OPEC outlook caps gains
NEW YORK (Reuters) – Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick Oxford But oil’s gains Read More

China’s biggest energy company shuns Venezuela oil on tighter U.S. sanctions

1 day ago DieselGasoil Comments Off on China’s biggest energy company shuns Venezuela oil on tighter U.S. sanctions
By Lucia Kassai on 8/16/2019 HOUSTON (Bloomberg) – China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation. China National Petroleum Corp. has canceled plans to load about 5 MMbbl of Venezuelan oil onto ships this month in the aftermath of Read More

API: Total U.S. petroleum demand in July highest since 2005

1 day ago DieselGasoil Comments Off on API: Total U.S. petroleum demand in July highest since 2005
8/16/2019 WASHINGTON – Total U.S. petroleum demand averaged 20.8 MMbpd in July 2019, which represented a 0.9% year-over-year increase and the highest demand for the month since 2005, according to the latest Monthly Statistical Report released today by the American Petroleum Institute. The increase in demand came as the U.S. continued to sustain world-leading production, Read More

OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus

1 day ago DieselGasoil Comments Off on OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus
LONDON (Reuters) – OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply. FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) Read More