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August, Friday

Science and Technology

Halliburton introduces Largest Hole-Size LWD density service in the oil and gas industry

Sperry Drilling, a Halliburton business, announced the release of the 9-1/2-inch Azimuthal Lithodensity (ALD™) service, providing real-time density measurements and images in boreholes up to 17-1/2 inches.

ISDS first for DNV GL classed Ocean Greatwhite - world’s largest semi-submersible

DNV GL has welcomed the world's largest semi-submersible drilling rig into class recently. Ocean Greatwhite is 123 metres long and 78 metres wide and was delivered at Hyundai Heavy Industries in Ulsan, South Korea.

Analytics

Analysts: Oil market now in bull territory, based precariously on sentiment

With Brent crude rising above $50 on August 18, 2016, for the first time in 6 weeks (for a close of $50.89) and WTI up 3.06% and settling at $48.22, oil is now technically in a bull market - but analysts warn a "test of the lows" may be forthcoming.

Venezuela oil production falls to 40 year lows as OPEC admits to lower-than-predicted global demand

Even though analysts characterize the current oil market as overbearish, contained in the August OPEC Report is the troubling disclosure that its Reference Basket fell nearly 7% in July «amid lower-than-predicted demand, high refined product stocks during the peak summer driving season and rising crude supply.»

Daily news

Top News

Second China-Russia oil pipeline in the works

A new China-Russia oil pipeline will help guarantee China's oil consumption and, cut its transportation costs, said Gao Jian, an oil analyst at commodities consultancy Sublime China Information Co Ltd.

Question of the week

Will the russian Turkish stream be launched, or an apology to Erdogan is not enough?

poll archive

People

Shamsuarov Azat Angamovich
Senior Vice-President, Oil and Gas Production
Sechin Igor Ivanovich
CEO of Rosneft
Igumnov Guennadi Viacheslavovich
Ex - Governor of the Perm region
Oganesian Sergey Aramovich
Ex-Chief of ROSENERGO, Ex-Vice-President of ROSNEFT
Chaika Yury Yakovlevich
Prosecutor General of the Russian Federation)
Neftegaz.RU context