Fuels & Lubes

New Biodegradable Steel Wire Rope Lubricants

Lubricants manufacturer METALUBE has launched Rope-Tek WRD, a new range of biodegradable lubricants specifically designed to protect steel wire ropes.    According to the manufacturer,

Magnum Hunter: Slashed all Spending Amidst Cheap Oil, Gas

Oil and natural gas producer Magnum Hunter Resources Corp said on Friday it has cut all capital spending amidst plunging commodity prices, expecting prices to remain low for at least the next year.

U.S. Crude Turns Positive on Supportive Economic Indicators

U.S. crude oil prices turned positive Friday after the National Association of Realtors reported that U.S. home sales rose in December, a possible indicator of a recovering housing market.

Russia's Refinery Runs in December Down

Russian oil refinery runs in December fell by 2.1 percent month-on-month or 123,787 barrels per day (bpd) due to a series of outages, data from the Energy Ministry and Reuters calculations showed.

Saudi Oil Minister to Stay for Now, Policy Steady

Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's

U.S. Crude Falls to Weekly Low Following Refinery Disruption

U.S. crude fell to $45.35 on Friday, the lowest since the middle of last week, following news that a crude oil distillation unit in BP's 413,500 barrel a day Whiting,

Spot Declines; Monday Falls on More Wind

Stronger hydro power generation sent central and southeast Europe spot power prices lower on Friday, offsetting higher consumption due to colder weather forecasts and modest wind power output,

North Dakota Optimistic Despite Price Slump

Business leaders in the capital of North Dakota's oil boom say they are optimistic the regional economy will stand up to slipping crude prices, confident that the

Gunvor: No Rebound to $100 Oil, Contango to Deepen

Oil trader Gunvor's head of analysis said on Thursday crude was unlikely to return to $100 a barrel in the foreseeable future, but prices were expected to be volatile

Oil Majors Seek to Claw Back Costs from Service Firms

Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house, after losing hundreds

Glander International Bunkering Appoints Johansen

Andreas Johansen has been appointed as a Bunker and Lubricant Trader at Glander International Bunkering’s Dubai office. Glander International Bunkering said

OPEC's Badri Says Oil Won't Fall to $20

Oil prices will not fall to $20 or $25 a barrel, OPEC Secretary-General Abdullah al-Badri said in an interview with Bloomberg. "The price will not go to $20 or $25,

Eni Makes New Oil and Gas Discovery in Egypt

Eni has made a new discovery of oil and gas in Egypt's Western Desert, the Italian group said in a statement on Thursday. The well in the West Melehia deep exploration

U.S. Drivers Will Drive Oil Market Recovery

U.S. gasoline demand is increasing as motorists opt for bigger vehicles and drive more, encouraged by the sharp drop in fuel prices and an improving employment market.

EU Okays 2021 Carbon Reforms

The European Parliament's industry committee on Thursday narrowly voted in favour of starting reforms to boost the EU Emissions Trading System (ETS) by 2021, in

Braemar’s FSP-LNG Containment System

Braemar LNG BV has signed an agreement with NASSCO to utilize its patents in the design and construction of FSP LNG Containment systems. The FSP system - a new flat-panel,

Eustream Offers Increased Capacity for Gas Shipments to Ukraine

Slovak pipeline operator Eustream offered increased capacity for gas shipments to Ukraine on Wednesday via a link opened last year to help Ukraine compensate for cuts in supplies from Russia.

US Official: Low Oil Prices Add to Iran Woes

David Cohen, the U.S. Under Secretary for Terrorism and Financial Intelligence, said on Wednesday that low oil prices mean Iran will lose billions of dollars more

Kemp: Oil Producers' Under-Appreciated Role in U.S. Economy

The eight states at the heart of the American shale oil revolution all grew faster than the U.S. national average over the last decade, according to the U.S. Bureau of Economic Analysis (BEA),

Saudi Aramco CEO: Oil Market will Rebalance Itself

It will take some time for the oil market to rebalance, but the market will balance itself, the head of Saudi Arabia's state oil company Saudi Aramco said on Wednesday.

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