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IEA Study Unveils Key Role for Trucks in Global Oil-Demand Growth

July 7, 2017 - in Energy, Oil & Gas

Improving the efficiency of road-freight transport is critical to reducing the growth in oil demand, carbon emissions and air pollution over the next decades, according to the International Energy Agency’s latest report, The Future of Trucks: Implications…

Deep Well Services Achieves API Q2 Certification

July 6, 2017 - in Energy, Oil & Gas

ZELIENOPLE, Pa. – Deep Well Services (DWS) joined an elite group in the oil and gas industry by attaining the American Petroleum Institute (API) Specification…

U.S. Exports of Crude Oil and Petroleum Products Have More Than Doubled Since 2010

June 28, 2017 - in Energy, Oil & Gas

U.S. crude oil and petroleum product gross exports have more than doubled over the past six years, increasing from 2.4 million barrels per day (b/d) in…

Growing Octane Needs Widen the Price Difference Between Premium and Regular Gasoline

June 23, 2017 - in Energy, Oil & Gas

The difference between U.S. average retail prices for premium and regular gasoline reached 50 cents per gallon in late 2016, and it has remained near that level so far in 2017. This price difference, or spread, has been generally increasing since 2000. Many…

Global Oil Markets Expected to Tighten in Third Quarter 2017, then Loosen Through 2018

June 19, 2017 - in Energy, Featured, Oil & Gas

Forecast world production of crude oil and other liquids in 2017 and 2018 was revised slightly downward in the June edition of EIA’s Short-Term Energy Outlook (STEO), which was issued after the May 25 announcement by the Organization of the Petroleum Exporting…

Reporting Oil Companies’ Proved Reserves in 2016 Decline for Second Consecutive Year

June 13, 2017 - in Energy, Oil & Gas

Annual reports of 68 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the second consecutive year. The decline in proved reserves was heavily concentrated in a few companies that reduced their estimated…

United States Remains the World’s Top Producer of Petroleum and Natural Gas Hydrocarbons

June 8, 2017 - in Energy, Oil & Gas

The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2016 for the fifth straight year despite production declines for both petroleum and natural gas relative to their 2015 levels. The United States has been the world's…

OPEC Net Oil Revenues in 2016 Were the Lowest Since 2004

May 22, 2017 - in Energy, Oil & Gas

Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015,…

Atlas Copco to Acquire Pump Rental Business in Brazil

April 24, 2017 - in Energy, Oil & Gas

Stockholm, Sweden: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Itubombas Locação Comércio Importação e Exportação Ltda, a pump rental company in the Brazilian market.   Itubombas is based in Itu in…

​Governor Wolf Announces Opening of First of 29 Compressed Natural Gas Fueling Stations Under Public Private Partnership

April 24, 2017 - in Energy, Oil & Gas

Harrisburg, PA – Governor Tom Wolf today announced the opening of the first of 29 Compressed Natural Gas (CNG) fueling stations planned as part of a Public Private Partnership. PennDOT Deputy Secretary for Multimodal Toby Fauver and P-3 Office Director Mike…