Industry Trends ///

Texas can't keep all the U.S. petroleum exports to itself

It would appear that the net-importing U.S. East Coast has a little bit of Texas export envy.

Total partners with Google Cloud to develop artificial intelligence solutions for E&P

Total and Google Cloud have signed an agreement to jointly develop artificial intelligence (AI) solutions applied to subsurface data analysis for oil and gas exploration and production.

German $10-billion gas bill shows perks of close Russia ties

Are Berlin’s close energy ties with Moscow paying off?

Wood, Librestream develop wearable camera technology for oil and gas operations

Wood has developed new camera technology that can stream video and store data from remote work locations including offshore, in partnership with Canadian technology company Librestream Technologies (Librestream).

Ely and Associates Corp., Mosaic Petroleum Analytics announce joint venture

Effective March 27, 2018, Ely and Associates Corp. has formed a mutually beneficial joint venture with Mosaic Petroleum Analytics LLC.

Statoil shows a return to better times is within reach

Statoil ASA showed that a return to profit levels from the era of $100/bbl is within the grasp of the world’s oil giants.

Oil holds loss as hope of new Iran deal eases sanction concern

Oil held losses below $68/bbl after French President Emmanuel Macron called for a new Iran nuclear deal to keep the U.S. on board, raising speculation sanctions on the OPEC producer may be averted.

Fracers preach patience on payoff from $70 oil, growth in shale

The world’s biggest oilfield service companies have a message for investors: There’s a payoff for patience.

Crude pushes toward $69 mark as U.S. surplus takes center stage

Crude approached a three-year high as traders braced for a second straight weekly decline in surplus U.S. supplies.

Here come the petrodollars, back to save global asset prices

The recent surge in oil prices is poised to boost global assets as crude-producing states deploy replenished stashes of petrodollars, according to a growing chorus of analysts.

Majors still unloved by investors despite better fortunes

For generations of investors, Exxon Mobil has been a cornerstone of fund managers’ portfolios alongside the biggest names in corporate America.

Crude wipes out losses as Arabian Peninsula conflict heats up

Crude erased losses as escalating conflict in the Mideast region that’s home to almost half the world’s oil canceled out an earlier rout in commodity markets.

Goldman Sachs echoes Saudi view that oil rally won't hurt demand

Goldman Sachs Group Inc. sees oil’s rally the same way as Saudi Arabia: it won’t check the world’s soaring thirst for crude.

Saudi Aramco to lift oil-trading volume to 6 MMbpd

Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 MMbpd, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products.

Rystad: Subsea 7 aims to assume SURF throne through McDermott acquisition

Subsea 7’s attempt to acquire rival contractor McDermott could create a powerful new entity in the global market for subsea umbilicals, risers and flowlines (SURF), giving it a best-in-class market share of 24%, according to research and analysis by Rystad Energy.

Hedge-fund investors pour into oil as firms predict surge to $80

Hedge funds investing in oil are luring capital at the fastest pace in more than a year.

Canadian rail union discussions near deadline as strike looms

Canadian Pacific Railway is trying to hammer out a deal with two unions to avoid a labor strike that threatens to disrupt Canada’s second largest railroad for the second time in three years.

CEO awarded $60 million to lead Linn Energy past bankruptcy

The same day Linn Energy Inc. exited bankruptcy, it awarded CEO Mark Ellis a $60 million compensation package, more than three times the amount Exxon Mobil paid its CEO.

U.S. oil rush spurs triangle trade as output, exports soar

Rapid increases in U.S. oil output are forcing some traders and producers to try alternative ways of pricing crude.

A first for Panama Canal: Three LNG tankers crossed in a day

Three LNG tankers sailed through the Panama Canal on the same day, marking a first for the newly expanded waterway and highlighting the booming global gas trade.