Archives for 2017
Saudi Arabia’s Motiva plans for billions in Texas growth
Saudi Arabia’s Motiva Enterprises said it plans to spend billions of dollars more to expand its Port Arthur Refinery — already North America’s largest — and grow more in the petrochemical and refining sectors. Motiva,...
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Market Currents: OPEC – The Hangover
No sooner had the dust settled after the conclusion of the latest OPEC meeting (with oil traders selling the market like hot cakes), we got Saudi oil minister Khalid Al-Falih saying that exports to the US...
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Petrobras, Shell fire up pre-salt oil field off Brazil
A first-of-its-kind vessel owned by Petrobras and Shell has begun pumping oil off Brazil in one of the world’s most lucrative deep-water basins. Shell said Friday the companies fired up their first cloned offshore vessel...
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Oil prices tank as OPEC deal on output cuts disappoints traders
Oil prices tanked early Thursday after OPEC reached an agreement to cap oil production for another nine months at the same level that couldn’t fix the oversupplied oil market this year. The U.S. oil benchmark...
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Energy Dept. nominee questions legality of Trump’s proposal for oil reserve
Dan Brouillette, Rick Perry’s pick to be his number two at the Department of Energy, questioned the Trump administration’s proposal to sell off oil from the Strategic Petroleum Reserve to help balance the federal budget...
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