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Oil Will Recover Once Producers Quit Spending Money, Hamm Says

by Harry Weber via www.bloomberg.com

(Bloomberg) — Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday. Hamm…


Petro News

Al-Falih Reiterates Saudi Aramco’s Commitment to Long-term Strategy at Global Competitiveness Forum

by Saudi Aramco News via Aramco.com

Saudi Aramco continues to pursue its long term strategy to become the world’s leading integrated energy enterprise despite the current downturn in the global oil industry, Khalid A. Al-Falih, President…


Petro News

Nigerian government reduces fuel price

by Musikilu Mojeed

The Nigerian government has announced a reduction in the fuel price of petrol from N97 per litre to N87 per litre. The Minister of Petroleum Resources, Diezani Alison-Madueke, said at…


Petro News

Technology: People vs. processes

by Slavka Atanasova

With the constant emergence of new technology, sometimes employees get left behind. If companies don’t address this, they might pay a price higher than anticipated.   Over the past decade,…


Petro News

Saudi Arabia to capitalise on Iraqi export lull

by Christopher Kelly

Saudi Arabia to capitalise on Iraqi export lull Increased security threats and quality issues surrounding Basra’s Light grade crude could cost Iraq its biggest customer Asian refineries and oil traders…


Petro News

Saudi Aramco outlines $40bn capacity investment

by Christopher Kelly

Saudi Aramco has announced plans to invest $40bn a year over the next decade to keep oil production capacity steady and double gas production. President and CEO of the world’s…


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