Oil Rallies on Demand Recovery, Output Cuts  | Rigzone
(Bloomberg) — Oil rallied as investors looked past an increase in U.S. crude stockpiles to focus on tentative signs of a recovery in fuel demand as well as output cuts. Futures in New York rose 2.7% Thursday. While U.S. government data showed that American crude stockpiles rose last week, the demand outlook is improving. The
Gastech Postponed  | Rigzone

Gastech Postponed  | Rigzone

Gastech has been postponed to next year due to concerns around the global pandemic, accessibility and the wellbeing of speakers, delegates, exhibitors and visitors. The event, which was due to take place in Singapore in September, will now take place from September 13-16 in 2021. A virtual event covering Gastech’s 2020 agenda will take place
Oil Down on Signs US Stockpiles Swelled  | Rigzone
(Bloomberg) — Oil extended its drop to trade near $32 a barrel after a U.S. industry report signaled crude inventories swelled for the first time in three weeks, raising fresh concerns about excess supply. Futures fell 2.7% in New York, putting the market on track for its first back-to-back daily decline in three weeks. The
Oil Slips From 11-Week High  | Rigzone
(Bloomberg) — Oil fell from a nearly three-month high as investors weighed whether or not Russia would agree to extend output curbs when OPEC+ meets in two weeks. West Texas Intermediate crude futures dropped 4.5% in New York. Russian President Vladimir Putin and Saudi Arabia’s Mohammed bin Salman on Wednesday reiterated their cooperation on the OPEC+ supply-deal
Oil and Gas CEOs Reaffirm Climate Action Focus  | Rigzone
Chief executive officers of leading global oil and gas companies on Tuesday issued an open letter reiterating their commitment to addressing climate change and facilitating actions that lower the energy industry’s carbon intensity. Under the auspices of a group called the Oil and Gas Climate Initiative (OGCI), the CEOs stressed that they maintain a “focus
Offshore Workers Exempt from New UK Border Rule  | Rigzone
Workers undertaking activities in offshore installations are exempt from new self-isolation requirements for UK arrivals, which are due to kick in on June 8. Under the new rules anyone entering the UK, bar a few exceptions, will be required to carry out 14 days of self-isolation. A breach of self-isolation would be punishable with a
Oil Rallies With Producers Hiking Prices  | Rigzone
(Bloomberg) — Oil’s recovery from its historic crash last month is barreling ahead, with some OPEC producers displaying signs of confidence that the market is stabilizing. Nigeria and Algeria — both members of the Organization of Petroleum Exporting Countries — have lifted the official selling prices for their supply, a sign that they believe customers
US Rig Count Sinks to 318  | Rigzone
The U.S. rig count is down 21 rigs from the previous week to 318, with oil rigs down 21 to 237, gas rigs flat at 79, and miscellaneous rigs unchanged at two, according to current numbers from Baker Hughes. Year on year, the U.S. rig count is down 665 rigs from last year’s 983, with
Americans Eye Post-lockdown Road Trips  | Rigzone
Memorial Day is a federal holiday that honors members of the U.S. military who died while serving their country. Falling on the last Monday of May, the holiday has also taken on a less somber overtone: it marks part of what has traditionally been viewed as the unofficial start of summer and the vacationing –
OGUK Launches Knowledge Sharing Network  | Rigzone
Oil & Gas UK (OGUK) has launched a new online knowledge sharing network which it says aims to encourage companies to work collaboratively to share problems and source solutions to their efficiency challenges. The Problem-Solving Network, which can be accessed via OGUK’s Efficiency Hub, allows users to post their problems and have them reviewed by OGUK’s Continuous