Archives for August 2016
Look past OPEC freeze hype to really understand oil’s advance
For all the feverish speculation of OPEC action that’s roiling oil markets, the real reason for crude’s recent recovery probably lies elsewhere. Oil futures have rallied more than 10 percent since the Organization of Petroleum...
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Blackstone finds an oil Narnia in west Texas
By Liam Denning Gadfly If you happen to find a battered, exhausted oil baron slumped in a dark corner (and who doesn’t from time to time?), just whisper this one word in their ear to revive...
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LyondellBasell may have its Houston Refinery back on the auction block
The petrochemical giant confirmed it’s considering, if not definitively, selling its aptly named Houston Refinery that can process up to 268,000 barrels of crude oil daily to churn out gasoline, jet fuel, diesel and other...
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Oil rig count stalls after 8 weeks of growth
The number of rigs actively drilling for oil stayed flat from last week, while the amount of natural gas-seeking rigs slipped by two, according to weekly data compiled by the Baker Hughes oilfield services firm....
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OPEC export revenue tumbled to 2004 levels, EIA reports
Last year, it turns out, wasn’t a very good year for OPEC’s mighty oil drillers either. Members of the Organization of the Petroleum Exporting Countries earned $404 billion in net oil export revenue in 2015,...
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