Daily Archives: June 7, 2016

US oil prices rise above $50/bbl

Oil prices rose above $50/bbl Tuesday on a weaker dollar and ongoing supply disruptions, according to a report by the Wall Street Journal. Read Full Article Here For more great articles: Offshore RSS Feed

EIA continues to raise oil-price forecasts for 2016-17

North Sea Brent crude oil prices averaged $47/bbl in May, a $5/bbl increase from April and the fourth consecutive monthly increase since reaching a 12-year low of $31/bbl in January. Growing global oil supply disruptions, rising oil demand, and falling US crude oil production have contributed to the price increase. Read Full Article Here For…

Analyst finds signs of turnaround in FPS market

As a result of improving oil prices, cheaper shipyard/module fabrication costs and re-engineered projects, the FPS market should see improvement in the second half of 2016, according to analyst Douglas-Westwood. Read Full Article Here For more great articles: Offshore RSS Feed

Holly Energy buys more Wyoming crude pipeline assets

Holly Energy Partners LP has acquired 50% interest in Cheyenne Pipeline LLC, owner of Cheyenne Pipeline, for $42.5 million. The other 50% interest is owned by an affiliate of Plains All American Pipeline LP, which will continue to operate the line. Read Full Article Here For more great articles: Oil & Gas Journal – Transportation

Morocco lets tender for Gharb basin acreage

Morocco’s Office National des Hydrocorbures et des Mines (ONHYM) has set an Aug. 19 deadline for acreage in the Gharb Centre area of the greater Gharb basin in the northern portion of the country. The tender includes 1,362 sq km of acreage, excluding three zones where ONHYM fields and infrastructure exist. Read Full Article Here…