Industry Trends ///

Service companies chase international boom as U.S. shale drilling moderates

The biggest providers of oilfield services are surfing a wave of international spending on the back of higher prices, but the good news is tempered by an activity slowdown in their own back yard.

Colorado’s Prop 112 would cut surface drill sites by 54%

BP’s new U.S. onshore headquarters in Denver serves as a testament to Colorado’s regal mountains, its expansive forests, its nature-loving culture.

Argentina plans to close LNG importing facility

Argentina plans to close a facility for importing LNG, after booming production in Vaca Muerta turned the country into a seasonal exporter.

FAA-approves Avitas UAS for use beyond visual line-of-sight

Avitas Systems received FAA approval to fly an unmanned aerial system beyond visual line of sight in Loving County, Texas.

Colorado House Majority Leader says Proposition 112 unlikely to pass

A ballot measure that could curb oil and gas development in Colorado is unlikely to pass in November, according to Colorado House Majority Leader KC Becker, a Democrat representing liberal Boulder county. Still, the measure’s success thus far will force the statehouse to take action on the issue in 2019.

Oil majors offload Gulf of Mexico fields to hunt bigger finds

Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust.

IEA cuts oil demand forecasts, but sees prices staying high

The International Energy Agency cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high.

100 MMbbl: The world hits daily oil, liquids record

The world is pumping out more oil and other petroleum liquids than ever before.

Yemen's oil comeback has far to go as three-year war rages on

OMV AG’s return to an oil field in Yemen marked a small step toward a comeback in production for the Middle East’s poorest country, where a proxy war between Saudi Arabia and Iran has choked energy output and shuttered a key export terminal and pipeline.

World Oil Award 2018 Winners Honored at Houston Gala

More than 350 of the upstream oil and gas industry’s brightest minds gathered Thursday to find out, and celebrate, the winners of the 2018 World Oil Awards. The awards ceremony, now in its 17th year, seeks to recognize and honor the upstream industry’s top innovations and innovators.

Oil set for worst two-day drop since July as stock turmoil spreads

Oil headed for the biggest two-day drop since July as fears over a worsening trade war rattled global markets.

BP says goodbye to low prices as it plans projects for oil over $60

BP Plc boss Bob Dudley, among the first to say oil will stay lower for longer, is becoming more confident.

Wildcatters still a gamble for investors despite oil's rise

Higher oil prices may seem like the pot of black gold at the end of the rainbow for wildcat explorers in frontier plays. But even with talk that prices of $100/bbl could again be in sight, investors are wary before taking the gamble.

Donald Trump is rerouting the world's oil tankers

U.S. President Donald Trump is redirecting global oil flows.

Texas Alliance, IPAA announce two new joint projects

The Texas Alliance of Energy Producers (Alliance) and the Independent Petroleum Association of America (IPAA) have announced their joint effort on two new projects for the benefit of the oil and gas industry. The first project is the 2018 White Paper on water use in the energy industry.

Top oil traders say Iran sanctions hit harder than expected

Sanctions on Iranian oil exports are hitting much harder than most people predicted as the administration of U.S. President Donald Trump takes a tough line on enforcement, said executives from the world’s largest energy traders.

Trump still doesn't like the price of oil, even as it falls

President Donald J. Trump is again saying oil prices are too high, even after West Texas Intermediate crude dropped from a four-year high last week.

Dow Microbial Control introduces new winterized water treatment microbiocides

Providing the market with a cold-weather solution, Dow Microbial Control, a business unit of DowDuPont Specialty Products, has launched two new products within its AQUCAR Water Treatment Microbiocides portfolio.

Growth opportunities ahead as demand for oil to hit record high, UAE Minister says

There are opportunities for expansion, investment and growth in the oil and gas industry, as demand for energy continues to rise, particularly from the high-growth economies of Asia, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC).

BHGE, AFRC partner to push limits of advanced manufacturing for oil and gas

The University of Strathclyde’s Advanced Forming Research Centre (AFRC) and Baker Hughes, a GE company (BHGE), have joined forces to explore how some of the latest advanced manufacturing tools and processes can drive more efficient, smarter ways to reduce cost and increase productivity across BHGE’s operations.