Industry Trends ///

Crude loses upward momentum amid U.S. output growth worries

Crude edged lower amid predictions of a steep hike in U.S. crude output this year.

Nigeria moves closer to energy overhaul with new oil bill

Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry.

Oil outpaces ruble giving Russian drillers cause for cheer

Russia’s oil producers are enjoying near record crude prices -- in rubles -- and having their best start to the year since 2015. As the nation prepares to discuss its deal with OPEC allies in Oman this weekend, analysts say the good times will continue.

Oil majors seek diversity but struggle with retention, CEO says

The oil industry is doing a better job of hiring women. Keeping them remains the challenge, says ConocoPhillips CEO Ryan Lance.

Kurdish gas project gets boost amid political tumult

Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics.

Tanker with Russian gas for Boston makes mid-Atlantic U-turn

Three weeks after picking up a controversial cargo in the UK, a liquefied natural gas tanker made a U-turn one day before it was due to deliver it in Boston.

Crude pares losses on record withdrawal at biggest storage site

Crude pared losses after U.S. government data showed inventories at the nation’s largest pipeline hub dropped by the most on record.

Keystone XL pipeline gets enough shipper pledges to proceed

TransCanada Corp. has enough customer interest to go forward with the Keystone XL oil pipeline, if the company decides to build it.

Oil's sustained rise giving oilfield servicers time to prosper

Oilfield-service providers are eyeing a rebirth with higher crude prices sowing the seeds for a prolonged period of growth.

RRC Chairman Craddick: When it comes to NAFTA, mend it—don't end it

Many Texans support NAFTA based on the premise that it allows American workers and businesses to compete on a level playing field with anyone in the world.

Mozambique's gas-rich north faces specter of further attacks

Sporadic attacks by gunmen in northern Mozambique will probably continue although they’re unlikely to hurt investment in the region’s sizable gas resources, Control Risks Ltd. said, after seven people were killed in raids in the past week.

API President and CEO Jack Gerard to depart in August

After 10 years running one of Washington’s most influential associations covering all aspects of the oil and natural gas sector, API President and CEO Jack Gerard announced he will not make another long-term commitment to API and will step down when his current contract ends in August 2018.

Subsea Expo to explore overseas opportunities for UK companies

With UK subsea exports valued at almost £4 billion, Subsea UK is encouraging British firms to target international expansion to sustain long term growth.

Archer secures contract for Apache's Forties, Beryl fields

Archer Limited announces that effective from Jan. 1, 2018, Apache have awarded a new three-year contract to Archer for the provision of Platform Drilling Management Services which include operations and maintenance on their Forties and Beryl fields.

Kuwait says exit from oil cuts not on table as prices rise

OPEC and other global oil producers including Russia won’t be discussing how to end output cuts when they meet this weekend in Oman even as crude prices have recently been rising, Kuwait’s oil minister said.

Oil extends slide on speculation hedge-fund buying went too far

Oil continued to slide from a three-year high on speculation that a record long position built up by money managers leaves prices vulnerable to a pullback.

Flow of unwanted oil from China is set to turn into a deluge

The pace at which China exports the fuel it doesn’t want is set to jump by more than four times in 2018, according to the nation’s biggest energy producer.

Trump's offshore oil plan will struggle to lure rigs from Guyana

The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude.

Hess, targeted by Elliott, to cut 300 jobs to trim costs

Hess Corp., the oil producer targeted by hedge fund Elliott Management Corp., plans to shed about 300 jobs in 2018 as it seeks to cut costs by $150 million a year.

Energy Web Atlas releases new features for real-time LNG intelligence service

Gulf Publishing Company has announced several enhancements to the Energy Web Atlas (EWA) applications. The ESRI-based geographic information system (GIS) platform allows users to examine real-time project information, export and manipulate data, and serves as a comprehensive source of actionable project intelligence.