Archive | February, 2018

Oil Jumps Most This Year as Buildup Slows in U.S. Storage Tanks

Crude climbed the most since December as a recent buildup in U.S. storage tanks and terminals appears to be slowing down. Futures gained 2.4 percent in New York on Wednesday after a government report showed American oil inventories rose by 1.84 million barrels last week. That was lower than all but two of 11 estimates in a […]

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Texas flood: U.S. Oil Exports Pour Into Markets Worldwide

NEW YORK/LONDON/SINGAPORE (Reuters) – In the two years since Washington lifted a 40-year ban on oil exports, tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo. The repeal has unleashed a flood of U.S. shale oil, undercutting global crude prices, eroding […]

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Royal and Ministerial Endorsements for Gastech 2018

Gastech, the global exhibition and conference at the forefront of the international gas, LNG and energy industries, is delighted to have received the Presidency of Honour from His Majesty King Felipe VI of Spain as the event arrives in Barcelona for its 30th edition. The “Presidency of Honour” is complemented by an official endorsement from […]

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Permian Seen Second to Saudis for Spare Oil-Output Capacity

The U.S.’s Permian Basin is looking like Saudi Arabia, with as much as 1 million barrels of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world’s largest crude exporter. Oil producers in the Permian Basin have at least a combined 500,000 barrels […]

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The U.S. Oil Boom Is Attracting Canadian Drillers

Canadian oil and gas drillers are moving their rigs to the United States in response to greater demand for their service there and an investment climate at home that is, according to industry insiders, only making their lives harder. In a recent story for The Globe and Mail, Dan Healing quotes a few executives from […]

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