Archives for December 2016
Saudi energy minister sees oil recovering on OPEC cuts
Oil prices are set to recover next year as OPEC fulfills its agreement to cut output, halting the slump that battered the global oil industry, Saudi Arabia’s energy minister said. The kingdom sees no need...
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Four NRG Energy plants switch from coal to natural gas
Four coal-fire power plants owned by Houston-based NRG Energy have been turned into natural gas plants, the company said this week. In recent years, plummeting natural gas prices, environmental regulations and economics have made coal-fired...
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Analysts: Crude stock growth more than balanced by strong demand
The growth of U.S. crude stockpiles surprised analysts on Wednesday. But that shouldn’t matter, they said on Thursday: A “massive” petroleum draw more than offset the surprising crude inventory growth. The Department of Energy reported...
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Harvest Natural Resources agrees to sell Gabon interests
A subsidiary of Harvest Natural Resources, Inc., has agreed to sell off all of its Gabon oil and gas interests to a Singapore company for $32 million. Singaporean company BW Energy Gabon Pte. Ltd. will acquire...
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National Oilwell Varco to build pipe plant in Saudi Arabia
National Oilwell Varco’s new composite pipe manufacturing plant should begin operations in early 2018, the Houston-based oil and gas equipment manufacturer said. The pipe facility will produce spoolable and jointed high-pressure line pipe in Dammam, a...
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