‘Nasty year’ leaves oil investors wary as profits fall short

Crude prices may have stabilized, but it’s still not a great time to be Big Oil. Investors eliminated about $53 billion in market value for producers over three days as the twin titans of U.S. oil posted their worst annual financial outcomes in decades. More »

Ashtead Technology to solve subsea challenges with launch of Engineered Measurement Solutions Group

Ashtead Technology is launching a new service to increase efficiency and drive down risk and cost in subsea and marine operations. More »

India plans merger of state-run firms to create oil giant

India is planning to create a state-owned oil giant through mergers to match the might of international companies and billionaire Mukesh Ambani’s Reliance Industries Ltd. More »

U.S. enjoys first-ever oil trade surplus with Latin America

The U.S. for the first time is pushing more crude and refined petroleum products into Latin America than it brings back, signaling a change in the global trade map that could be tested if President Donald Trump introduces border taxes. The scales tipped in favor of the U.S. in October, when it recorded a surplus of 89,000 bopd, the first gain for the U.S. since records began in 1993, according to the U.S. Energy Information Administration. In November, the surplus grew to 184,000 bopd, the EIA said Tuesday. That compares to a 4.3 million barrel deficit in 2005. More »

Saudi energy minister praises Trump’s pro-fossil-fuel policies

President Donald Trump’s energy policies are good for the petroleum industry and Saudi Arabia sees no problem with growth in U.S. oil production as long as it’s in line with demand, Saudi energy minister Khalid Al-Falih said. “President Trump has policies which are good for the oil industries,” Al-Falih said in an interview with the BBC. “He has steered away from excessively anti-fossil-fuel, unrealistic fossil-fuel policies.” More »