World energy markets, from butane in Asia to gasoline in Latin America and diesel in Europe, are feeling the ripple effect of Texas’s deadly storm, highlighting the growing importance of the U.S. for the global oil industry. When Hurricane Katrina hit in 2005, the U.S. exported just 800,000 barrels a day of mostly refined products.... Continue Reading →

U.S. authorities are investigating China Petroleum & Chemical Corp. over allegations that the state-controlled oil producer paid Nigerian officials about $100 million worth of bribes to resolve a business dispute, according to people familiar with the probe. Investigators from the Securities and Exchange Commission and Justice Department are looking into allegations that outside lawyers acting as middlemen for the company, known... Continue Reading →

The latest hit list potentially reduces U.S. fuel-making capacity to the lowest since 2008, following Hurricane Ike. Motiva Enterprises LLC’s Port Arthur facility in Texas, the biggest U.S. refinery, is shutting because of severe flooding, said a person with knowledge of the operations. Total SA’s refinery in Port Arthur is out with a power loss, a person familiar with that plant... Continue Reading →

  Aug, 2017 The Customs of the Federal Revenue Service at the Port of Santos authorized BG Brazil to export crude oil produced in an exclusive geographical area located off the coast of the state of São Paulo, in the Santos Basin. The authorization was published on 29th in the Official Gazette of the Union.... Continue Reading →

U.S. offshore oil and gas operators have, as of Monday, evacuated 98 production platforms and five drilling rigs in the Gulf of Mexico, in response to the hurricane Harvey. This means that some operators have actually returned some personnel offshore, as the previous number, as of Sunday, showed 105 evacuated platforms. Read more

Houston was born from the wreckage of a cataclysmic storm in 1900, and in the decades since has weathered not only water and wind but the gyrating fortunes of the oil industry. The sprawling megalopolis, which takes a perverse pride in its booms and busts, will endure Harvey as well, said Patrick Jankowski, senior vice... Continue Reading →

Ricardo Darre, chief executive officer of YPF SA, has resigned as Argentina’s largest oil producer prepares to sell at least $1 billion in assets and focus on developing the world’s second-biggest reserve of shale gas. A six-person committee will lead the company after Darre resigned, according to a filing by YPF on Monday. Darre didn’t... Continue Reading →

A deluge of rain and rising floodwaters left Houston immersed and helpless, crippling a global center of the oil industry and testing the economic resiliency of a state that’s home to almost 1 in 12 U.S. workers. Read more

Updated: Friday, August 25, 2017, 9:48 pm Four companies were approved Friday (25/8) at the last meeting of the Special Tender Commission (CEL). The Commission approved a total of 32 companies for the 14th Round of Tenders, to be held on September 27 in Rio de Janeiro. CEL analyzed the last eight applications, four of... Continue Reading →

Malaysia’s national oil company Petronas saw an increase in profit during the second quarter 2017 helped by higher prices across all products and cost cuts.  Petronas’ profit after tax for the quarter was RM 7 billion compared to RM 1.7 billion in 2Q of 2016, a significant improvement mainly due to lower net impairment on assets... Continue Reading →