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MARKET WATCH: Crude oil benchmarks end week with price drop January 14, 2019- The light, sweet crude oil price for February dropped $1/bbl on the New York market Jan 11 while Brent crude settled more than $1/bbl lower on London’s Intercontinental Exchange. Price declines by the benchmarks ended more than a week of… Full Story
Phillips 66, partners to develop ACE Pipeline system January 14, 2019- Phillips 66 Partners, Harvest Midstream Co., and PBF Logistics LP plan to jointly develop the ACE Pipeline system to provide crude oil transportation service from the market hub in St. James, La., to downstream refining destinations in Belle Chasse, Meraux,… Full Story
Baker Hughes: Canada gains 108 rigs for the week January 11, 2019- Canada has added 108 rigs for the week ended Jan. 11, according to Baker Hughes data. While the large jump puts the total number of rigs running at 184, the count is less than the 276 units drilling this week… Full Story
MARKET WATCH: Crude oil benchmarks continue gaining on production cuts January 11, 2019- The light, sweet crude oil price for February rose for a ninth consecutive day on Jan 10, settling above $52/bbl. That was a 4-week high on the New York futures market and the longest gain in 9 years, which analysts… Full Story
PA panel sees ‘statewide concern’ with pipeline corrosion after ME1 leak January 9, 2019- Investigators at the Public Utility Commission blamed corrosion for a leak of natural gas liquids from Sunoco’s Mariner East 1 pipeline in April 2017, and said they are concerned about the company’s corrosion-control program throughout the ageing statewide line. READ… Full Story
Baker Hughes: International rig count rises 34 units in December January 9, 2019- The international rig count for December reached 1,025, up 34 units from the 991 rigs counted in November and up 71 units from the 954 rigs counted in December 2017, according to Baker Hughes data. The international offshore rig count… Full Story
EIA: US crude inventories down 1.7 million bbl January 9, 2019- US crude oil inventories for the week ended Jan. 4, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, data from the US Energy Information Administration showed. At 439.7 million bbl, US crude oil inventories… Full Story
Baker Hughes: US rig count falls 8 units to 1,075 January 4, 2019- The US rig count fell 8 units during the week ended Jan. 4 to reach 1,075 units working, according to Baker Hughes data. This count was up 151 units from the 924 units working in the US this week a… Full Story
Michigan’s new governor seeks review of pipeline replacement plans January 4, 2019- Michigan’s new governor, Democrat Gretchen Witmer, has asked Atty. Gen. Dana Nessel (D) for a legal opinion of recent legislation to replace Enbridge Inc.’s pipeline in the Mackinac Straits and the new Mackinac Straits Corridor Authority (MSCA) created by her… Full Story
MARKET WATCH: NYMEX, Brent crude prices settle higher for fourth straight session January 4, 2019- Both light, sweet crude oil on the New York market and Brent crude oil in London settled higher Jan. 3, marking the benchmarks’ fourth consecutive session of gains. The Wall Street Journal reported it was the longest streak of higher… Full Story
MARKET WATCH: NYMEX crude gains slightly on final trading day of 2018 January 2, 2019- Benchmark crude oil prices ended a volatile holiday trading period by settling modestly higher on the final trading day of 2018. Previously, both equities and oil prices have whipsawed with steep losses on some days and gains on other days.… Full Story
EIA: US crude inventories virtually unchanged January 2, 2019- US crude oil inventories for the week ended Dec. 21, excluding the Strategic Petroleum Reserve, remained virtually unchanged from the previous week, data from the US Energy Information Administration showed. EIA released the Weekly Petroleum Status Report 2 days later… Full Story
Carbon dioxide conversion and corrosion December 17, 2018- The community of scientists and engineers enamored with the conversion of CO2 to renewable synthetic fuels are for the most part, dedicated to the discovery, development, scaling, and stability of materials and reactors for facilitating these reactions, whether it be… Full Story
Corrosion issues of carbon capture, utilization, and storage December 14, 2018- When steels corrode under a high-pressure, high-temperature multiphase environment containing supercritical carbon dioxide, various gas impurities, salts, crude oil, and solid particles merit further investigation. READ MORE Full Story
Baker Hughes: Canada sees another double-digit drop in rigs December 14, 2018- Close on the heels of a 13-rig drop a week ago, Canada lost 12 rigs for the week ended Dec. 14, according to Baker Hughes data. With 174 rigs running, the count is below the 238 units drilling this week… Full Story
EIA: US crude inventories down 1.2 million bbl December 14, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 1.2 million bbl for the week ended Dec. 7, according to data from the US Energy Information Administration. At 442 million bbl, US crude oil inventories are about 7%… Full Story
Corrosion issues of carbon capture, utilization, and storage December 6, 2018- When steels corrode under a high-pressure, high-temperature multiphase environment containing supercritical carbon dioxide, various gas impurities, salts, crude oil, and solid particles merit further investigation. READ MORE Full Story
MARKET WATCH: Brent crude settles below $62/bbl pending OPEC meeting outcome December 6, 2018- Light, sweet crude oil for January delivery fell modestly on the New York market to settle below $53/bbl while Brent for February and March fell to settle below $62/bbl Dec. 5 pending a meeting of OPEC in Vienna. Full Story
Baker Hughes: US, Canada weekly rig counts down November 30, 2018- The US drilling rig count is down 3 units to 1,076 rigs working for the week ended Nov. 30, according to Baker Hughes data. The count is up 147 units from the 929 rigs working this time a year ago.… Full Story
MARKET WATCH: NYMEX oil briefly slips below $50/bbl November 30, 2018- The light, sweet crude oil price for January delivery briefly slipped below $50/bbl during Nov. 29 trading, but it bounced to $51.45/bbl by closing, up $1.16. The day’s low was $49.53/bbl compared with the day’s high of $52.50/bbl. OPEC and… Full Story
EIA: US crude inventories up 3.6 million bbl November 28, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 3.6 million bbl for the week ended Nov. 23, according to data from the US Energy Information Administration. At 450.5 million bbl, US crude oil inventories are about 7%… Full Story
Protecting tank farms from corrosion: 3 most important considerations November 27, 2018- With asset utilization critical and community and regulatory pressure always looming, it is essential that tank farm owners proactively prevent any loss of containment with reliable, cost-effective corrosion protection. This is crucial since atmospheric corrosion is one of the main… Full Story
MARKET WATCH: NYMEX crude settles above $51/bbl November 27, 2018- Oil prices moved upward Nov. 26 as the market looked to the upcoming Dec. 6 meeting of the Organization of Petroleum Exporting Countries in Vienna where it is expected that Saudi Arabia will propose production cuts of as much as… Full Story
Tank integrity studied at radioactive US waste storage site November 20, 2018- In the latest round of testing, investigators found that two tanks at the decommissioned Hanford nuclear production complex in Washington had spots showing significant thinning in a ring around the shell’s wall. READ MORE Full Story
Rolls-Royce admits yet more corrosion problems with its jet engines November 20, 2018- Rolls-Royce has warned of fresh problems affecting around 200 of its engines, further damaging the engineer’s reputation for reliability. The company has revealed that about one in 10 of its Trent 700 engines needs repairs because of corrosion to turbine… Full Story
API: US petroleum demand rebounded to 20.8 million b/d in October November 20, 2018- US petroleum demand, as measured by total domestic petroleum deliveries, was 20.8 million b/d in October, which was up by 3.3% from September and 3.9% compared with October 2017. This is according to the American Petroleum Institute’s latest monthly statistical… Full Story
MARKET WATCH: NYMEX oil prices holding under $57/bbl for December November 20, 2018- Light, sweet crude oil prices settled moderately higher Nov. 19 on the New York market but prices were falling in early trading Nov. 20 amid thin trading volumes with the approach of the US Thanksgiving holiday. Continue Reading » Full Story
Baker Hughes: US, Canada weekly rig counts up November 16, 2018- The US drilling rig count is up 1 unit to 1,082 rigs working for the week ended Nov. 16, according to Baker Hughes data. The count is up 167 units from the 915 rigs working this time a year ago.… Full Story
MARKET WATCH: NYMEX settles under $57/bbl, Brent under $67/bbl November 16, 2018- Light, sweet crude oil prices settled under $60/bbl for the fourth consecutive day on the New York market Nov. 15 while Brent settled under $70/bbl for a third consecutive day. The US Energy Information Administration said US crude oil inventories,… Full Story
Colorado voters defeat proposition to increase well setbacks November 13, 2018- Colorado voters on Nov. 6 defeated Proposition 112, which would have increased oil and gas well setbacks from homes and businesses. Continue Reading » Full Story
MARKET WATCH: NYMEX settles below $60/bbl, while Brent nears $70/bbl November 13, 2018- Crude oil benchmarks dropped on markets in New York and London Nov. 12, which analysts attributed in part to comments by US President Donald Trump urging Saudi Arabia and the Organization of Petroleum Exporting Countries against cutting oil production. Continue… Full Story
Baker Hughes: US rig count jumps 14 units to 1,081 November 9, 2018- The US drilling rig count is up 14 units to 1,081 rigs working for the week ended Nov. 9, according to Baker Hughes data. The count is up 174 units from the 907 rigs working this time a year ago.… Full Story
MARKET WATCH: NYMEX crude for December drops by $1/bbl November 9, 2018- The price of light, sweet crude oil for December delivery dropped $1 to settle under $61/bbl on the New York market Nov. 8 while Brent crude oil for January delivery dropped more than $1 to settle under $71/bbl. During Nov.… Full Story
Federal judge halts Keystone XL construction for further NEPA review November 9, 2018- A federal district court judge in Montana vacated a Mar. 23, 2017, US Department of State Record of Decision authorizing construction of the Keystone XL crude oil pipeline and ordered further environmental reviews of the project. Continue Reading » Full Story
Baker Hughes: International rig count up 13 units in October November 7, 2018- The international rig count for October was 1,017, up 13 from the 1,004 counted in September and up 66 from the 951 counted a year ago, according to Baker Hughes data. The international offshore rig count for October was 207,… Full Story
MARKET WATCH: Crude oil prices fall on growing US supply forecasts November 7, 2018- Crude oil benchmarks fell in Nov. 6 trading on markets in New York and London, which analysts attributed to traders and investors acknowledging upside supply risks given that US oil production has been rising and is expected to continue doing… Full Story
DOI: Fiscal 2018 payments to states, tribes rose 26% from 2017 November 6, 2018- The US Department of the Interior’s Office of Natural Resources Revenue distributed $8.93 billion in revenue and royalties from energy produced on federal managed public and Indian tribal land to states, tribes and three special funds, 26% more than the… Full Story
MARKET WATCH: Brent crude oil up, NYMEX oil futures down November 6, 2018- Brent crude oil prices gained modestly on the London market Nov. 5 to settle above $73/bbl while light, sweet crude oil prices dropped slightly in New York to settle above $63/bbl. US crude futures have held in the $63/bbl range… Full Story
Baker Hughes: US rig count down 1 unit to 1,067 November 2, 2018- The US drilling rig count is down 1 unit to 1,067 rigs working for the week ended Nov. 2, according to Baker Hughes data. The count is up 169 units from the 898 rigs working this time a year ago.… Full Story
MARKET WATCH: Crude oil benchmark prices drop before US oil sanctions on Iran November 2, 2018- Light, sweet crude oil prices dropped more than $1/bbl on the New York market Nov. 1 while Brent crude oil prices dropped more than $2/bbl in London in anticipation of US oil sanctions being fully implemented against Iran. Meanwhile, US… Full Story
MARKET WATCH: Crude oil benchmarks end week higher October 29, 2018- Crude oil benchmarks closed modestly higher on Oct. 26, approaching the end of a month in which volatility in global stock markets caused swings back and forth from steep losses to small gains. Analysts said the Dow Jones Industrial Average,… Full Story
Baker Hughes: US rig count up 1 unit to 1,068 October 26, 2018- The US drilling rig count was up 1 unit to 1,068 rigs working for the week ended Oct. 26, according to Baker Hughes data. The count is up 159 units from the 909 rigs working this time a year ago.… Full Story
MARKET WATCH: NYMEX crude oil prices rise on stabilizing US stock market October 26, 2018- Light, sweet crude oil prices gained modestly to settle above $67/bbl on the New York market Oct. 25 while Brent crude oil prices also rose to close above $76.80/bbl. Upward momentum in oil prices followed stabilizing equity markets. US stock… Full Story
EIA: US crude inventories increase 6.3 million bbl October 24, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6.3 million bbl for the week ended Oct. 19, according to data from the US Energy Information Administration. At 422.8 million bbl, US crude oil inventories are about 2%… Full Story
MARKET WATCH: Brent crude falls toward $75/bbl, NYMEX approaches $66/bbl October 24, 2018- Brent crude oil prices settled below $77/bbl on the London market Oct. 23, which analysts attributed to traders’ concerns that worldwide oil demand is weakening amid ample crude supply even as US sanctions are fully implemented on Iranian oil exports… Full Story
MARKET WATCH: Brent crude, WTI end week in decline October 22, 2018- Brent crude oil for December remained under $80/bbl on the London market Oct. 19 while light, sweet oil for November and December delivery settled over $69/bbl in New York. All were up slightly Oct. 19 as China showed signs of… Full Story
API: US petroleum demand in September slowed from August October 19, 2018- With seasonal slowing after the summer driving season, US petroleum demand was 20.1 million b/d in September, down 3.5% from August but up 2.4% compared with September 2017. This is according the latest monthly statistics report from the US American… Full Story
Baker Hughes: US rig count up 4 units to 1,067 October 19, 2018- The US drilling rig count was up 4 units to 1,067 rigs working for the week ended Oct. 19, according to Baker Hughes data. The count is up 154 units from the 913 rigs working this time a year ago.… Full Story
MARKET WATCH: Brent crude oil price settles under $80/bbl October 19, 2018- Brent crude oil for December settled under $80/bbl on the London market Oct. 18 while light, sweet oil for November and December settled under $69/bbl in New York. The Oct. 18 Brent settlement was the lowest since Sept. 21. Earlier… Full Story
Corrosion basics – corrosion damage in reinforced concrete October 18, 2018- The main causes of corrosion of steel in concrete are chloride attack and carbonation. These two mechanisms are unusual in that they do not attack the integrity of the concrete. Instead, aggressive chemical species pass through the pores in the… Full Story
MARKET WATCH: Oil prices drop on surprise build in US oil inventory October 18, 2018- Light, sweet oil prices settled under $70/bbl, down more than $2 on the New York market Oct. 17 compared with the previous day after a government report showed an unexpected rise in the US crude oil inventory, excluding the Strategic… Full Story
EIA: US crude inventories increase 6.5 million bbl October 17, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6.5 million bbl for the week ended Oct. 12, according to data from the US Energy Information Administration. At 416.4 million bbl, US crude oil inventories are about 2%… Full Story
MARKET WATCH: Oil price rally pauses given US stock market volatility October 17, 2018- Light, sweet oil prices climbed to settle slightly higher on Oct. 16 but fell Oct. 17 in early trading on the New York market, which analysts attributed to broader US equity market jitters. Crude prices had climbed to multiyear highs… Full Story
MARKET WATCH: Crude oil prices rise on US-Saudi tensions October 15, 2018- Light, sweet crude oil rose modestly for the November contract to settle above $71/bbl on the New York market Oct. 12 while Brent crude oil for the December contract held above $80/bbl in London. Oil prices continued their upward momentum… Full Story
Baker Hughes: US rig count jumps 11 units to 1,063 October 12, 2018- The US drilling rig count jumped 11 units to 1,063 rigs working for the week ended Oct. 12, according to Baker Hughes data. The count is up 135 units from the 928 rigs working this time a year ago. All… Full Story
MARKET WATCH: Crude oil benchmarks fall with declining equity markets October 12, 2018- Both light, sweet crude oil on the New York market and Brent in London toppled by more than $2/bbl on Oct. 11 following a 2-day selloff across equity markets worldwide. “Brent even dipped briefly below $80/bbl,” Commerzbank analysts said of… Full Story
Underdeposit corrosion in a subsea water injection pipeline October 11, 2018- Underdeposit corrosion is a phenomenon that leads to pipeline failures and is one of the most damaging forms of corrosion for oil and gas pipelines. It can occur in subsea water injection pipelines, well-fluid pipelines, and large-diameter transmission lines. READ… Full Story
EIA: US crude inventories increase 6 million bbl October 11, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6 million bbl for the week ended Oct. 5, according to data from the US Energy Information Administration. EIA released the Weekly Petroleum Status Report a day later than… Full Story
Moody’s: Permian basin pipeline constraints to limit 2019 production October 10, 2018- A lack of pipelines to carry oil and natural gas out of the Permian basin in West Texas and southeastern New Mexico will limit exploration and production and weaken realized prices until late 2019, when new pipeline capacity comes online,… Full Story
MARKET WATCH: NYMEX November contract gained to settle just below $75/bbl October 10, 2018- Light, sweet crude oil prices gained on the New York market to settle just below $75/bbl on Oct. 9 while Brent crude prices climbed by more than $1 to settle at $85/bbl. Market participants on Oct. 10 closely monitored a… Full Story
Trump orders EPA to waive volatility limits for E15 October 10, 2018- US President Donald Trump ordered the US Environmental Protection Agency to waive volatility limits for gasoline with a 15% blend, facilitating its year-round sale in the country. Agricultural and ethanol interests applauded the Oct. 9 move, while the oil and… Full Story
Hurricane Michael prompts evacuations October 9, 2018- Operators had moved workers off 10 production platforms as of midday Oct. 8 as Hurricane Michael entered the Gulf of Mexico, reported the US Bureau of Safety and Environmental Enforcement. No fixed drilling rigs had been evacuated. Five dynamically position… Full Story
MARKET WATCH: Crude oil prices retreat as supply disruption concerns ease October 9, 2018- Crude oil prices retreated slightly on both the New York and London markets Oct. 8 with light, sweet crude prices dropping 5¢/bbl while Brent crude price prices dropped about 24¢/bbl, attributed, in part, to indications that market disruption from pending… Full Story
Unmasking corrosion to design better protective thin films for metals October 8, 2018- Corrosion of metals is an age-old problem, but they are normally protected from catastrophic damage by naturally forming, super-thin oxide films. Traditionally, these protective films have been viewed as simple oxides of well-anticipated compounds. Now researchers have found the protective… Full Story
MARKET WATCH: Crude oil prices steady at the end of a volatile week October 8, 2018- Crude oil prices were steady Friday on both the New York and London markets Oct. 5 with light, sweet crude and Brent crude prices hovering a within a 10¢-range of the previous day’s prices. The calm comes after a volatile… Full Story
Corrosion in Alaskan infrastructure October 5, 2018- Alaska is home to many distinct environments, with each presenting its own challenges when designing for corrosion control. READ MORE Full Story
Baker Hughes: US rig count drops 2 units to 1,052 October 5, 2018- The US drilling rig count is down 2 units to 1,052 rigs working for the week ended Oct. 5, according to Baker Hughes data. The count is up 116 units from the 936 rigs working this time a year ago.… Full Story
MARKET WATCH: Crude oil prices retreat, NYMEX drops $2/bbl October 5, 2018- Crude oil prices retreated on both the New York and London markets Oct. 4 with light, sweet crude prices dropping about $2/bbl while Brent crude price prices dropped about $1.70/bbl, which analysts attributed to volatility in US equity and bond… Full Story
MARKET WATCH: Crude oil prices drop slightly but hover near 4-year highs October 3, 2018- Light, sweet crude oil prices for November and December delivery declined slightly but each contract settled above $75/bbl on the New York market Oct. 2, staying near 4-year highs as did Brent crude oil. Brent for December and January dropped… Full Story
EIA: US crude inventories increase 8 million bbl October 3, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 8 million bbl for the week ended Sept. 28, according to data from the US Energy Information Administration. At 404 million bbl, US crude oil inventories are at the… Full Story
MARKET WATCH: Brent crude oil prices approach $85/bbl on supply concerns October 2, 2018- Light, sweet crude oil prices for November and December jumped more than $2 to settle above $75/bbl on the New York market Oct. 1 while Brent crude oil for December and January also climbed more than $2 to settle above… Full Story
US drinking water supply is at risk from deteriorating pipes October 1, 2018- As prospects fade for bipartisan infrastructure legislation, a new report highlights the dire consequences to public health and safety that will result from continued deterioration of the nation’s underground water networks. Beset by over 300,000 water main breaks each year,… Full Story
Upon closer inspection, corrosion may be eating away at Red Hill storage tanks October 1, 2018- A new study suggests that the Navy's massive Red Hill fuel tanks are in worse shape than initially thought. In 2014, 27,000 gallons leaked from one of the Navy's aging tanks. The Navy recently examined one of the steel tanks… Full Story
Baker Hughes: US rig count rises single unit to 1,054 September 28, 2018- The US drilling rig count is up a single unit to 1,054 rigs working for the week ended Sept. 28, according to Baker Hughes data. The count is up 114 units from the 940 rigs working this time a year… Full Story
MARKET WATCH: NYMEX crude climbs back above $72/bbl on Perry remarks September 28, 2018- Light, sweet crude oil prices bounded back above $72/bbl on the New York market Sept. 27 after US Energy Sec. Rick Perry said there are no plans to release oil from the US Strategic Petroleum Reserve. The US November crude… Full Story
MARKET WATCH: Brent crude price hovers around 4-year high September 26, 2018- The Brent crude oil contract for November gained moderately to approach $82/bbl on the London market Sept. 25, maintaining levels not seen since November 2014. US light, sweet crude for November delivery settled above $72/bbl on the New York market… Full Story
EIA: US crude inventories increase 1.9 million bbl September 26, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 1.9 million bbl for the week ended Sept. 21, according to data from the US Energy Information Administration. At 396 million bbl, US crude oil inventories are about 2%… Full Story
API: US petroleum demand in August reached 20.8 million b/d September 26, 2018- According the latest monthly statistics report from the American Petroleum Institute, US petroleum demand in August, led by motor gasoline, distillate, and refinery feedstocks, increased to 20.8 million b/d, up 250,000 b/d from July. This was the strongest demand for… Full Story
Bridge infrastructure at risk from corrosion as trucks get heavier, engineers say September 24, 2018- Engineers warn that some of Australia's 53,000 bridges could collapse without warning, similar to Italy's Morandi bridge, because there is no public data on how fast corrosion of older bridges is occurring and no regulations governing bridge safety. Around half… Full Story
MARKET WATCH: NYMEX oil price drops on slightly lower US rig count September 24, 2018- The light, sweet crude oil prices for November rose modestly Sept. 21, settling above $70/bbl on the New York market for a third consecutive day before a weekend meeting of the Joint Ministerial Monitoring Committee (JMMC), representing nations coordinating oil… Full Story
Baker Hughes: US rig count drops 2 units to 1,053 September 21, 2018- The US drilling rig count is down 2 units to 1,053 rigs working for the week ended Sept. 21, according to Baker Hughes data. The count is up 118 units from the 935 rigs working this time a year ago.… Full Story
MARKET WATCH: NYMEX oil prices drop but hold above $70/bbl September 21, 2018- The light, sweet crude oil prices for October and November declined modestly yet each settled above $70/bbl on the New York market Sept. 20 while Brent crude oil prices for November and December also fell but each settled above $78/bbl… Full Story
US Navy to push for low-cost upgrades to Oahu fuel tanks September 19, 2018- In a deal with the Environmental Protection Agency and the state Department of Health, the Navy agreed to examine options to improve tank safety after 27,000 gallons (10,200 liters) of fuel leaked at the facility in 2014. The EPA and… Full Story
EIA: US crude inventories decrease 2.1 million bbl September 19, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 2.1 million bbl for the week ended Sept. 14, according to data from the US Energy Information Administration. At 394.1 million bbl, US crude oil inventories are about 3%… Full Story
MARKET WATCH: NYMEX oil, gas prices rise on US-China trade tensions September 19, 2018- The light, sweet crude oil prices for October gained nearly $1 on the New York market Sept. 18 to settle at $69.85/bbl while the Brent crude contract for November delivery also jumped nearly $1 in London to settle just above… Full Story
MARKET WATCH: NYMEX, Brent oil prices fall slightly pending full US sanctions on Iran September 18, 2018- Light, sweet crude oil prices for November delivery fell by less than a dime on the London market Sept. 17 to hold above $68/bbl while Brent crude oil prices on the London market also fell slightly, settling above $78/bbl. Continue… Full Story
Baker Hughes: US rig count gains 7 units to reach 1,055 September 14, 2018- The US drilling rig count is up 7 units to 1,055 units working for the week ended Sept. 14, according to Baker Hughes data. The count is up 119 units from this time a year ago when it stood at… Full Story
US House committee approves bill raising states’ GOMESA shares to 50% September 14, 2018- The US House of Representatives' Natural Resources Committee approved a bill that would increase shares of new federal offshore oil and gas revenue for Texas, Louisiana, Alabama, and Mississippi under the 2006 Gulf of Mexico Energy Security Act to 50%… Full Story
MARKET WATCH: NYMEX crude pushes past $70/bbl mark September 13, 2018- Prices for both light, sweet crude and Brent crude were up Sept. 12 on renewed concerns of a consumption and production imbalance. In its September Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent crude prices to average $74/bbl… Full Story
Bridge infrastructure at risk from corrosion as trucks get heavier, engineers say September 13, 2018- Engineers warn that some of Australia's 53,000 bridges could collapse without warning, similar to Italy's Morandi bridge, because there is no public data on how fast corrosion of older bridges is occurring and no regulations governing bridge safety. Around half… Full Story
MARKET WATCH: NYMEX crude surpasses $69/bbl on tropical weather threats September 12, 2018- Light, sweet crude oil and Brent crude oil prices jumped by more than $1.60/bbl on Sept. 11 while market participants monitored tropical weather systems headed toward the US East Coast and possibly the Gulf of Mexico. Tropical Storm Isaac could… Full Story
EIA: US crude inventories decrease 5.3 million bbl September 12, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.3 million bbl for the week ended Sept. 7, according to data from the US Energy Information Administration. At 396.2 million bbl, US crude oil inventories are about 3%… Full Story
IHS Markit: Offshore drilling rigs to rise through 2020 September 11, 2018- Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit. Continue Reading » Full Story
MARKET WATCH: Crude oil prices rise on shooting at Libya oil office September 11, 2018- Brent crude oil prices rose modestly on the London market Sept. 10 and continued higher Sept. 11 on news reports gunmen shot and killed two people at Libya’s National Oil Corp. headquarters on Sept. 10. US light, sweet crude futures… Full Story
MARKET WATCH: NYMEX crude oil price ends week with third consecutive decline September 10, 2018- The light, sweet crude oil contract for October fell slightly on the New York market Sept. 7, marking its third consecutive decline. Brent crude oil prices for November and December climbed modestly in London. Analysts said a strengthening US dollar… Full Story
Baker Hughes: US rig count unchanged at 1,048 September 7, 2018- The US drilling rig count remained unchanged at 1,048 units working for the week ended Sept. 7, according to Baker Hughes data. The count is up 104 units from this time a year ago when it stood at 944. Offshore… Full Story
MARKET WATCH: NYMEX crude price drops on gain in US product inventory September 7, 2018- The light, sweet crude oil contract for October fell by nearly $1 to settle under $68/bbl on the New York market Sept. 6 after a weekly government inventory report showed a gain in US product supplies, which outweighed the market’s… Full Story
EIA: US crude inventories decrease 4.3 million bbl September 6, 2018- US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 4.3 million bbl for the week ended Aug. 31, according to data from the US Energy Information Administration. Continue Reading » Full Story
IHS Markit: Offshore drilling rigs to rise through 2020 September 6, 2018- Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit. Continue Reading » Full Story
How one engineer is ‘fighting a good fight’ against metal corrosion September 4, 2018- Nick Birbilis finds the deterioration mechanism of a metal fascinating. His pioneering work in preserving metallic elements has won him the prestigious Batterham Medal. Professor Nick Birbilis spends his working days in constant battle with nature. As the Woodside Innovation… Full Story