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Rigzone.com: Latest News Headlines



The latest upstream oil and gas news from around the world.



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Oil Prices Fall As Rally Falters On Growing US Output Concerns

Fri, 19 Jan 2018 00:00:00 GMT

Oil prices ended down on Friday and broke a four-week winning streak after a rally that had taken benchmarks to three-year highs.



Saudi's Refined Oil Exports Offset Crude Curbs

Fri, 19 Jan 2018 00:00:00 GMT

The share of Saudi Arabia's exports of refined oil products steadily rose throughout 2017, offsetting a drop in overseas crude oil sales.



IEA Sees Oil Markets Tightening As Venezuelan Output Collapses

Fri, 19 Jan 2018 00:00:00 GMT

Global oil markets are tightening quickly on falling supply from Venezuela, IEA says.



Ohio Again Asks US Regulators To Stop Drilling On Rover Natgas Pipe

Fri, 19 Jan 2018 00:00:00 GMT

Ohio environmental regulators asked federal energy regulators to order Energy Transfer Partners LP to cease drilling operations on the Rover natural gas pipeline.



US Refiners Are Riding High With Strong Margins, Tax Boost

Fri, 19 Jan 2018 00:00:00 GMT

US refiners are off to a strong start start in 2018, even as competitors elsewhere are hitting harder times.



Kemp: Peak Oil Demand And Its Implications For Prices

Fri, 19 Jan 2018 00:00:00 GMT

Even if oil consumption reaches a peak and then starts to fall, the world will still need large quantities of oil for many decades to come.



Decision On Oil Pact Could Come In Late Spring, Early Summer-Russian Dep PM

Fri, 19 Jan 2018 00:00:00 GMT

A decision on global oil output cuts could be made in late spring or early summer.



Schlumberger Profit Beats, Predicts Strong 2018 For Shale

Fri, 19 Jan 2018 00:00:00 GMT

Schlumberger expects another strong year for shale drilling in 2018 along with its first international business growth in four years.



Russia's Transneft: Oil Pipeline Fire Will Not Affect Export Schedule

Fri, 19 Jan 2018 00:00:00 GMT

A fire at the Samara-Tikhoretsk pipeline will not affect Russia's oil export schedule.



Mexico's Energy Opening Faces Test In Deepwater Oil Auction

Fri, 19 Jan 2018 00:00:00 GMT

An auction of deepwater oil and gas fields in Mexico this month may prove the last major opportunity for President Enrique Pena Nieto's government to capitalize on its opening of the energy sector.



VNG to Explore Strategic Options to Maximize E&P Business Value

Fri, 19 Jan 2018 00:00:00 GMT

VNG AG looking to explore 'strategic options' to maximize the value of its oil and gas exploration and production business in Norway and Denmark.



New Cepsa, Sonatrach Contract Expected to Generate 1,500 Jobs

Fri, 19 Jan 2018 00:00:00 GMT

New contract in Algeria is expected to lead to the generation of up to 1,500 new jobs.



CHC Reaffirms Commitment to North Sea Energy Sector

Fri, 19 Jan 2018 00:00:00 GMT

Helicopter services company CHC breaks ground on a $6 million redevelopment of its Aberdeen base.



Significant Commercial Gas Discovery Found Onshore Italy

Fri, 19 Jan 2018 00:00:00 GMT

A significant commercial gas discovery has been made at the Selva gas field in northern Italy, Po Valley Energy Limited (PVE) confirms.



Glut Fears Thwart Oil Rebound After Record Draw From Storage Hub

Thu, 18 Jan 2018 00:00:00 GMT

A record draw from America's largest crude storage hub helped lift prices from the day's lows, but not enough to ease fears.



Crisis-Hit Venezuela's Oil Output Plummets In 2017 To Decades Low

Thu, 18 Jan 2018 00:00:00 GMT

Venezuela's crude oil production fell nearly 13% last year, according to figures released by OPEC.



Russell: China May Cause Larger Seasonal Swings In LNG Prices

Thu, 18 Jan 2018 00:00:00 GMT

There is little doubt that China's voracious appetite for LNG is the prime mover behind the spot price for the fuel reaching its highest in more than three years, but what happens next?



EIA: US Crude Stocks Drop, Led By Record Outflow From Cushing Hub

Thu, 18 Jan 2018 00:00:00 GMT

US crude oil stocks fell for a ninth straight week, led by a record drawdown at the US storage hub in Cushing, Oklahoma, EIA says.



Shell to Deploy Pioneering Electrolysis Tech at German Refinery

Thu, 18 Jan 2018 00:00:00 GMT

Shell's Rhineland refinery in Wesseling, Germany. SOURCE: Shell



CB&I, Chevron Lummus Global, Saudi Aramco Launch 'Crude-to-Chemical' JV

Thu, 18 Jan 2018 00:00:00 GMT

Three-way agreement is 'technological first,' says Saudi Aramco president.