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Crude Oil News

Feature: Iran debate rages in Washington as clock ticks down on Trump decision – Oil

Feature: Iran debate rages in Washington as clock ticks down on Trump decision – Oil

US President Donald Trump says he has already made up his mind what to do with the Iran nuclear deal, and yet lawmakers and his top advisers are using the final 10 days before a key deadline to argue opposite sides of the issue.White House to announce decision 'in the…

US shale gas casts a long shadow over petrochemicals

US shale gas casts a long shadow over petrochemicals

Middle Eastern petrochemical companies are known for their lavish hospitality, but at a cocktail party organized by a major Saudi company in Berlin recently, the atmosphere was quite somber. A conversation with one of the hosts on the impact of shale gas went some way to explaining this. “We are…

Vibrant and youthful Philippines emblematic of ASEAN’s energy challenge

Vibrant and youthful Philippines emblematic of ASEAN’s energy challenge

“I used to swim in this bay when I was a kid but there’s nowhere to swim anymore,” the hotel driver said on the way to Manila airport, pointing to the hotels and giant shopping malls that now occupy the Bay City area of the Philippine capital. A population of…

CH2M wins marine support contract on BP development offshore Senegal, Mauritania

CH2M wins marine support contract on BP development offshore Senegal, Mauritania

10/5/2017 LONDON -- CH2M has been awarded a new marine engineering support contract on BP's Tortue development offshore Mauritania and Senegal. The new energy development project involves subsea gas production, a floating gas treatment facility, a pipeline with domestic gas connection points and a nearshore hub facility…

Oil supply, demand divergence ‘now broken’: Saudi minister Falih – Oil

Oil supply, demand divergence ‘now broken’: Saudi minister Falih – Oil

The divergence between oil supply and demand had been "markedly broken," and the market had moved into backwardation less than a year into OPEC's agreement with major non-OPEC producers to curtail oil output, Saudi oil minister Khalid al-Falih said Thursday.Related article: No pressure on Iran to join OPEC output cuts:…

A Major Change In Lithium Markets Could Happen Soon

A Major Change In Lithium Markets Could Happen Soon

The critical countdown to a major lithium supply shortage is on, and the only thing that’s going to feed this demand is technology that can greatly increase production efficiency, much like fracking did for U.S. oil and gas.Electric cars, gigafactories, massive energy storage solutions and tons of consumer electrics mean…

Sparrows Group, Hydra Group launch crane, lifting, inspection joint venture in Ghana

Sparrows Group, Hydra Group launch crane, lifting, inspection joint venture in Ghana

10/4/2017 ABERDEEN -- Sparrows Group has formed Sparrows Offshore Ghana Ltd, a joint venture with local partner Hydra Group Limited, to deliver crane, lifting and inspection services in Ghana. The agreement will service strong demand for an experienced lifting and mechanical handling specialist to support reliability…

Most commodity prices in Trump era weaker — so far — than during Obama’s: Of Presidents and Prices

Most commodity prices in Trump era weaker — so far — than during Obama’s: Of Presidents and Prices

Ten of the 11 average commodity prices tracked by S&P Global Platts since President Donald Trump took office remain weaker than their averages during President Obama’s two terms. Although fundamentals and a range of other factors influence commodity prices, the group of 11 is being monitored by Platts and compared…

Libya oil output set to recover following halt at Sharara field

Libya oil output set to recover following halt at Sharara field

By Salma El Wardany and Saleh Sarrar on 10/3/2017 CAIRO and DUBAI (Bloomberg) -- Libya’s oil production is set to recover from a five-month low as the North African supplier’s biggest field restarts following a brief halt. The OPEC member’s output is expected to rise to…

Forties to Urals crude oil switching less likely after spread almost halves – Oil

Forties to Urals crude oil switching less likely after spread almost halves – Oil

The combination of widening Urals and narrowing Forties differentials has made the prospect of refiners switching to Urals from Forties less attractive in recent days, according to traders.The Forties premium over Urals NWE narrowed to just $2.67/b Monday from $4.19/b last Thursday, according to S&P Global Platts data, making the…

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