Swedish refiner Preem Petroleum AB, a wholly owned subsidiary of Corral Petroleum Holdings AB, Stockholm, and US-based project developer Beowulf Energy LLC, New York, have signed a cooperation framework agreement to examine the possibility of installing a residue hydrocracking plant that will be equipped with process technology from Chevron Lummus Global LLC (CLG) at Preem’s […]
15 Jun 2016 13:31:55 EDT – The latest stock information is now available for your stocks
XOM Last 90.47 Change +0.04 % Change 0.04% Volume 4,701,575 As of: 15 Jun 2016 13:31:55 EDT View: Stock Quote | News CVX Last 101.0999 Change –0.1801 % Change 0.18% Volume 2,540,378 As of: 15 Jun 2016 13:31:55 EDT View: Stock Quote | News COP Last 44.23 Change –0.09 % […]
WoodMac: Global upstream investment down $1 trillion since oil-price slump
Global upstream development spending from 2015 to 2020 has declined 22%, or $740 billion, since fourth-quarter 2014, according to research from Wood Mackenzie Ltd. Including cuts to conventional exploration investment, the figure increases to just more than $1 trillion. Source: News
Yang named CEO of CNOOC
Yang Hua, chairman of China National Offshore Oil Corp. Ltd., has added the role of chief executive officer following the resignation of Li Fanrong, who had served as chief executive officer and president. Yuan Guangyu has become president. The changes are effective June 15. Source: News
Russia considering sale of Rosneft stake
Russia is considering the sale of 19.5% of state-owned OJSC Rosneft in a private transaction, the company’s chief executive officer told an Italian newspaper. Source: News
Drilling campaign commences in Colombia
GeoPark Ltd. has started its drilling program on the Llanos 34 block in Colombia. The company spudded its Jacana 3 appraisal well with plans to follow with the Jacana 4. Source: News
House GOP’s ‘better way’ includes energy, regulatory policy reforms
Republican members of the US House of Representatives proposed a series of policy changes to tackle excessive regulations, develop more American energy, and curb lawsuit abuse as a third plank in their “Better Way” for the next administration. Source: News
US crude stocks fell 900,000 bbl last week, EIA reports
US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, dropped 900,000 bbl during the week ended June 10 compared with the previous week, the US Energy Information Administration reported. Source: News
Par Pacific inks deal for Wyoming refinery, related assets
Par Pacific Holdings Inc., Houston, has agreed to acquire Black Elk Refining LLC subsidiary Wyoming Refining Co., which operates a refinery in Newcastle, Wyo., and through its wholly owned subsidiary Wyoming Pipeline Co. LLC, related logistics assets in the region. Source: News
MARKET WATCH: Oil prices falling on New York, London markets
Light, sweet crude oil prices continued dropping on the New York market as did Brent crude oil prices on the London market June 14, which analysts attributed in part to a strengthening US dollar. Source: News