OG-News

Oil rebounds from one-month low on hopes for output cut extension

Rate this article By Offshore Energy Today.. By Karolin Schaps LONDON (Reuters) – Oil prices rebounded on Friday after dropping to a one-month low the previous day, prompting investors to buy at cheaper levels ahead of a May OPEC meeting at which producers could extend output cuts. Optimism is rising about the prospect of a…

OPEC: Oil output cuts only two percent off target in March

Rate this article By _Offshore_Energy_Today_ The Joint Ministerial Monitoring Committee (JMMC) reported on Friday that OPEC and non-OPEC countries have continued their high level of conformity with their voluntary adjustments in production. JMMC’s statement was based on the report of the Joint OPEC-Non-OPEC Technical Committee (JTC) for the month of March. The Committee expressed its…

Chevron back to black in 1Q

Rate this article By Offshore Energy Today.. Oil giant Chevron returned to profit in the first quarter of 2017 due to cost cuts and increase in crude prices, versus a loss posted in the corresponding period of 2016. The company on Friday reported earnings of $2.7 billion for first quarter 2017, compared with a loss…

Higher oil prices more than double ExxonMobil profit

Rate this article By Offshore Energy Today.. U.S. oil major ExxonMobil saw a 122 percent increase in its first quarter 2017 earnings, compared to those recorded in the prior-year quarter, boosted by higher oil prices. The oil major on Friday posted earnings of $4 billion for 1Q 2017, compared with $1.8 billion a year earlier,…

Celebrating 10 years Offshore Energy Exhibition and Conference

Rate this article By _Offshore_Energy_Today_ Did you know 2017 will hail the tenth edition of Offshore Energy? This milestone will be celebrated in the run up to OEEC 2017 as well as during the event itself. The very first Offshore Energy took place in 2008 in the Hague, before moving to Den Helder and finally…

Quality-Assured Winch Systems for Offshore Environments

Rate this article Rotrex is proud to offer customers one of Europe’s largest and most versatile catalogues of winching and lifting equipment, which are available for rapid deployment from a number of strategically situated sites throughout the UK. Read Full Article Here For more great articles: Offshore Technology