Crude Oil / Petroleum News

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BP’s Galapagos Development may Become Operational in 2012

On June 3, 2012, BP has declared that the Galapagos development in the deepwater U.S. Gulf of Mexico has commenced.

13 Jun 2012

President Putin In Person Will Award The Laureates Of The Global Energy International Prize 2012

The laureates of the Global Energy International Prize 2012 - RAS academicians Valery Kostyuk and Boris Katorgin, as well as UK professor Rodney John Allam – will soon be receiving their awards from the Russian President...

13 Jun 2012

Pennsylvania Companies Participate in Global Petroleum Show 2012

To strengthen Pennsylvania's presence in the global economy, the Department of Community and Economic Development (DCED) will lead a 24-company delegation to the Global Petroleum Show (GPS) in Calgary in order to establish the presence of Pennsylvania in the international economy.

12 Jun 2012

Magellan Midstream And Occidental Petroleum Jointly Seek Commitments For Proposed Bridgetex Pipeline From The Permian Basin To The Houston Gulf Coast Area

Magellan Midstream Partners, and Occidental Petroleum Corporation announced today the launch of an open season to jointly assess customer interest to transport crude oil from Colorado City, Texas to the Houston Gulf Coast area. Interested customers must submit binding commitments by July 11, 2012.

12 Jun 2012

Platts: Petrochemical Prices Drop 11% In May On Seasonal, Second-Quarter Lulls

Prices in the $3-trillion-plus global petrochemicals market fell sharply in May, averaging $1,279 per metric ton (/mt). The May average price is down $165, or 11%, from the April average, according to the just-released monthly average of the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals.

12 Jun 2012

Eagle Oil Announces Initiation Of New Operations Agreement

Eagle Oil Holding Company, Inc.today announced that it has received a "Letter of Intent" with a new registered operator in Texas for the start-up of oil field operations.

11 Jun 2012

A. Schulman Announces Joint Venture With National Petrochemical Industrial Company (NATPET) To Produce Polypropylene Compounds In Saudi Arabia

A. Schulman announced today that it has entered into a joint venture agreement with National Petrochemical Industrial Company (NATPET) of Jeddah, Saudi Arabia ("KSA"), a subsidiary of Alujain Corporation, a Saudi Stock Exchange listed company.

11 Jun 2012

Victory Energy Begins Drilling at Chapman Ranch Prospect, Texas

Victory Energy has started drilling on the first well at its Chapman Ranch prospect, which is situated in Nueces County, Texas.

11 Jun 2012

OPEC Crude Oil Production Rose To 31.75 Million Barrels Per Day In May According to Platts

Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose 40,000 barrels per day (b/d) to 31.75 million b/d in May, a Platts survey of OPEC and oil industry officials and analysts showed June 8. The May production marks a rise from April's output level of 31.71 million b/d and is the highest level since October 2008 when OPEC volumes averaged 32.26 million b/d.

11 Jun 2012

China Sunergy Introduces QSAR Modules In Thailand

China Sunergy Co., Ltd., a specialized solar cell and module manufacturer, announced that it held a large promotion event (the "Event") in Bangkok, Thailand today to introduce its high efficiency QSAR modules to the Thailand Provincial Electrical Authority officials, local banks as well as customers and investors, such as Thailand state owned petroleum refining and marketing company Bangchak Petroleum Public Company, Ratchaburi Electricity Generating Holding Public Company, and IRPC Public Company Limited, a fully-integrated refinery and petrochemical complex in Thailand and Southeast Asia, Kasikorn Bank, Thailand's third largest bank and other well-known local EPCs and distributors.

11 Jun 2012