Global Energy Industry News

S&P Global Platts Analysis of U.S. Energy Information Administration (EIA) Data

April 28, 2017
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By hellenicshippingnews.. U.S. refiners processed a record amount of crude in the week ended April 21, leading to a sizable draw in crude stocks and builds in refined product inventories, Energy Information Administration data showed Wednesday. U.S. refinery utilization increased 1.2 percentage points to 94 […]

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Cnooc revenue rises almost 56% on oil price rise

April 28, 2017
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By hellenicshippingnews.. Cnooc Ltd., China’s offshore oil producer, said Thursday that its first-quarter revenue rose 55.8% to 38.39 billion yuan ($5.57 billion) from the same period last year. It attributed the increase to a rise in global oil prices. The state-owned oil […]

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Angola in full compliance with OPEC output cuts – oil minister

April 28, 2017
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By hellenicshippingnews.. Angolan oil minister Jose Maria Botelho de Vasconcelos said on Thursday his country was more than fully complying with OPEC production cuts, and that he believed a deal to curb output would be extended beyond June. “Yes I think so,” de Vasconcelos said at an industry […]

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Oil prices fall more than 1 percent after Libyan oilfields restart

April 28, 2017
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By hellenicshippingnews.. Crude prices fell more than 1 percent on Thursday as the restart of two key oilfields in Libya pumped more crude into an already bloated market. U.S. gasoline futures also led the complex lower, falling to the lowest in at least eight years for this […]

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