Crude Oil News


ABS Approves Hanwha Ocean’s FPSO Design

Dec 19, 2024

American Bureau of Shipping (ABS) has awarded Hanwha Ocean an Approval in Principle (AIP) for its Pre-FEED standard FPSO design intended to create an asset optimized for deployment in the deep waters of West Africa.The FPSO design is 340 meters long and capable of storing approximately 2…

EIA: US Crude Imports to fall to lowest level since 1971

Dec 10, 2024

U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher U.S. production and lower refinery demand.The EIA expects the United States to produce 13…

Russia, Pakistan Mull Energy Exploration JV

Dec 04, 2024

Russia and Pakistan discussed cooperation on oil and gas offshore exploration and refining at intergovernmental meetings this week in Moscow, the Interfax news agency reported, citing Russia's deputy energy minister.Talks also covered the prospect…

Enbridge to Build Pipelines for BP’s US Gulf of Mexico Deepwater Oil Project

Oct 04, 2024

Canadian pipeline company Enbridge has secured an agreement with BP to build, own, and operate crude oil and natural gas pipelines in the U.S. Gulf of Mexico for the recently sanctioned Kaskida development.The crude oil pipeline, named the Canyon Oil Pipeline System (Canyon Oil)…

Nearly 40% of US Gulf of Mexico crude oil shut-in by hurricane

Sep 11, 2024

About 39% of crude oil production and 49% of natural gas output in the U.S. Gulf of Mexico were shut on Wednesday as hurricane Francine barreled toward the Louisiana coast, the U.S. Bureau of Safety and Environmental Enforcement said.Francine…

Norway May Oil & Gas Output Down But Beats Forecast

Jun 20, 2024

Norway's natural gas output fell in May but still beat an official forecast, while crude oil production also exceeded expectations despite overall lower volumes, the Norwegian Offshore Directorate (NOD) said on Thursday.Natural gas production in May fell to 322…

MOL and Petrobras Sign Cargo Transfer Vessels Deals

Mar 06, 2024

Mitsui O.S.K. Lines (MOL) and Brazil’s state-owned energy giant Petrobras have signed a charter contract for cargo transfer vessel (CTV) SeaLoader 2, and agreed to start negotiations for a new CTV shipbuilding contract by the end of 2024.MOL signed the deal through its wholly owned subsidiary…

QatarEnergy Picks Up Five-Year Crude Supply Contract with Shell

Dec 28, 2023

Qatari oil and gas company QatarEnergy has announced a five-year crude oil supply agreement with Shell.The agreement stipulates the supply of up to 18 million barrels per annum of Qatar Land and Qatar Marine crude oils to Shell starting in January 2024…

North Sea Troll Oil Loadings to Fall, Oseberg Steady

Nov 28, 2023

January loadings of North Sea crude oil grade Troll will fall slightly from the previous month, with Oseberg loadings set to be steady from December, according to loading schedules seen by Reuters.A total of five cargoes - each 700,000 barrels - of Troll will load next month…

Norwegian October Oil and Gas Output Lags Forecasts

Nov 21, 2023

Norway's natural gas output rose in October from a four-year low in September but still lagged an official forecast, while crude oil production also fell behind expectations, the Norwegian Petroleum Directorate (NPD) said on Tuesday.Natural gas production in October rose to 328…

1 Million+ Gallons: Pipeline Leaking Oil in the Gulf of Mexico

Nov 20, 2023

The U.S. Coast Guard on Monday said it was still looking for the source of a leak from an underwater pipeline off the Louisiana coast in the Gulf of Mexico that it estimated had released more than a million gallons of crude oil.The 67-mile long…

U.S. Coast Guard Responds to Gulf of Mexico Oil Spill

Nov 20, 2023

The U.S. Coast Guard was leading an oil spill clean-up in the Gulf of Mexico on Friday, partnering with local and federal agencies and companies after a Main Pass Oil Gathering Co (MPOG) underwater pipeline began leaking.The crude oil pipeline…

Energy Transfer, TotalEnergies Pen Deal for Crude Oil Offtake from Blue Marlin Offshore Port

Nov 16, 2023

Energy Transfer LP has entered into a non-binding Heads of Agreement (HOA) with TotalEnergies related to term crude oil offtake from its proposed Blue Marlin Offshore Port for 4 million barrels per month. The HOA is subject to the negotiation…

Cenovus Energy's Quarterly Profit Rises as Production Climbs

Nov 02, 2023

Canadian oil and gas firm Cenovus Energy's CVE.TO quarterly profit rose on Thursday, helped by strong demand for crude oil amid tight supplies and higher production.Supply cuts from OPEC+ countries led by Saudi Arabia and Russia kept the crude oil market tight…

Current News

OE’s 2024 Top of the Festive Video Pops

Offshore Drilling 2025: 3 Things to Watch During a Year of Market Corrections

Chevon’s Sanha Lean Gas Connection Project Achieves First Gas off Angola

BP and Partners Secure Rights for 450MW Offshore Wind Farm in Japan

Subscribe for OE Digital E‑News