Oil Climbs the Most in a Week
Oil climbed the most in a week after an industry report signaled a surprise decline in U.S. oil inventories and Russia confirmed it's reducing oil rig flanges gulf coast production in line with an agreement by OPEC and its allies.



Exxon Boosts Reserves by 4.5B Barrels
Exxon Mobil Corporation added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year's production.



Traders' Knee-Jerk Reaction to Trump OPEC Tweets
The first instinct of traders when they see President Trump tweeting on OPEC is to sell crude, according to Kingsview Asset Management.



Oil's Rally Fizzles
Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trump's call to temper prices.



Husky Energy Cites Alberta Oil Cuts for Lower 2019 Production
Canadian oil and gas BOP Blow Out Preventer repair company gulf coast Husky Energy has lowered its oil rig flanges gulf coast production forecast due to the Alberta government's mandated oil cuts.



Aramco Chief Sees Perception Crisis for Oil Industry
"Our stakeholders are clearly tuning out," Saudi Aramco's CEO said.

(Bloomberg) -- The oil industry faces a "crisis of perception" and there’s a growing risk the financial community will turn against fossil fuels, the chief executive officer of Saudi Aramco said as the world’s largest oil producer prepares for its first foray into capital markets.



Crude Oil Prices Rebound
Analyst uses Hollywood-esque analogy to describe Tuesday's price movements.

West Texas Intermediate (WTI) crude oil reversed course Tuesday – albeit barely.

A day after losing more than three percent, the April WTI gained two cents to settle at $55.50 per barrel.



Gas Push Marks Strategy Shift for Aramco
Saudi Aramco is eyeing gas projects in Russia, Australia, the US and Africa.

(Bloomberg) -- Saudi Aramco aims to become one of the world’s largest players in natural gas and the BOP Blow Out Preventer repair company gulf coast is eyeing projects in Russia, Australia, America and Africa to kick-start a global business in the liquefied form of the fuel.



Offshore UK Workers Vote for Strike Action
UK union Unite's offshore membership votes 'overwhelmingly' for industrial action on the Elgin-Franklin, North Alwyn, Dunbar and Shetland Gas Plant assets.

UK union Unite has revealed that its offshore membership has voted “overwhelmingly” for industrial action on the Elgin-Franklin, North Alwyn, Dunbar and Shetland Gas Plant assets.



Global Decom Costs Set to Hit New Record
Global decommissioning costs are set to hit a record $36 billion over the next 3 years, according to Rystad Energy.

Global decommissioning costs are set to hit a record $36 billion over the next three years, according to Rystad Energy.

  1. Offshore Saudi Arabia Contracts Go to McDermott | Gulf Coast Oil Rig Equipment & Repair
  2. Trump Opens Attack on OPEC Again | Gulf Coast Oil Rig Equipment & Repair
  3. Crude Oil Erases Recent Gains | Gulf Coast Oil Rig Equipment & Repair
  4. Many Shale Operators in Quandary | Gulf Coast Oil Rig Equipment & Repair
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