Petroleum industry
The U.S. Senate Energy Committee has approved two measures to enhance domestic energy production and exports, the Offshore Production and National Security (OPENS) Act and the Liquefied Natural Gas (LNG) Permitting Certainty and Transparency Act. These measures aim to lift the ban on crude oil exports and improve the
Petroleum industry
The US biofuel industry, comprised of farmers, biofuel makers, and oil companies, has urged the Environmental Protection Agency (EPA) to revisit its proposal for the Renewable Fuel Standard (RFS) program. Ahead of a midnight deadline for comments, industry groups and companies like Archer Daniels Midland and Valero Energy submitted thousands
Petroleum industry
Crude oil prices remained stable in early Asia, with investors awaiting crucial data on US oil rig counts. The market is closely watching the supply-demand balance amid concerns of an oversupplied market. The price of WTI crude for September delivery fell slightly, while Brent crude futures wavered in a tight
Petroleum industry
U.S. congressional leaders are expressing concern over the transparency of companies like Royal Dutch Shell in disclosing the risks associated with arctic oil and gas drilling operations. The issue has come to the forefront following the federal government's limited consent for Shell to begin drilling off the
Petroleum industry
US crude oil prices rose in Asia on Thursday ahead of an industry report on production trends, with investors awaiting the results of Baker Hughes' report on the number of oil rigs drilling in the US. The report, to be released on Friday, showed a decline in the number
Petroleum industry
Mentha oil futures on the Multi Commodity Exchange (MCX) faced downward pressure as speculators adjusted their positions, largely driven by weak cues from the spot market due to lower demand from industries. Additionally, the abundance of mentha oil stocks in the physical market, resulting from increased supplies from producing regions,
Petroleum industry
Suncor Energy, Canada's largest oil and gas producer, is exploring novel methods to enhance its environmental and energy efficiency. The company has partnered with Harris Corporation to test a technology called Enhanced Solvent Extraction Incorporating Electromagnetic Heating (ESEIEH), which uses radio frequency energy to heat bitumen, reducing greenhouse
Petroleum industry
Shell's plans to drill exploratory wells in the Chukchi Sea off Alaska's northwest coast remain on track despite damage to its icebreaker vessel, the Fennica. The 380-foot vessel will be repaired on the West Coast and return to Alaska in time for the summer drilling season.
Petroleum industry
The global smart oilfield IT services market is expected to experience significant growth, driven by the increasing adoption of IT services in the oil and gas industry. The report by Research and Markets states that the market will grow at a Compound Annual Growth Rate (CAGR) of 5.93% over
Petroleum industry
The international crude oil price fell as much as 8% after Greece rejected a debt bailout and China's stock market woes sparked a deepening spiral of losses. This led to a surge in shares of oil marketing companies, local airlines, tyre firms, and paint companies in India. Lower
Petroleum industry
The number of active oil drilling rigs in the US increased for the first time in 30 weeks, with 12 rigs added to the total count as of July 2, according to a report from Baker Hughes Inc. This rise in drilling rigs coincides with a decline in crude oil
Petroleum industry
Moody's Investors Service has assigned a provisional (P)Baa1 rating to Thai Oil Public Company Limited's proposed $1 billion medium-term note (MTN) programme. The rating affirmation is based on the company's Baa1 senior unsecured debt ratings and stable outlook, which were affirmed on 29
