News
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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Market Currents: Mexico’s gasoline dilemma
Amid a better-than-expected U.S. GDP print and a slightly softer dollar, oil prices are on the rise today. Gasoline, however, is on the move lower – and something we hone in on for today’s blog....
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Market Currents: Rising oil imports boost inventories
Oil prices are little changed, as a build to crude inventories in today’s weekly inventory report has been offset by solid draws to the products. As traders start to shift focus from OPEC to Santa,...
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