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August, Wednesday

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.

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

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