Oil and Gas

Japan’s JX Nippon Oil and Energy Corp and Venezuela’s state oil company PDVSA could sign a memorandum of understanding with Petrovietnam to join the expansion plan of Vietnam’s Dung Quat oil refinery, a local newspaper said on Wednesday. Vietnam’s state oil and gas group has offered the two foreign firms a feasibility plan for the refinery expansion, which was conducted by Japanese engineering firm JGC Corp, the Planning and Investment Ministry-run Vietnam...Read Full Story

     As promised, Saudi Arabia increased its crude output during the third quarter of 2011 bringing OPEC crude production up to 29.9 mbbls/d from 29.2 mbbls/d (opec implemented a 30m b/d cap a couple years ago). However, it wasn't enough to offset the 1.6 million barrels a day of crude lost due to the situation in Libya. Average WTI price fell from $102.3/bbl in 2Q11 to $89.5/bbl in 3Q11 meanwhile Brent Crude fell by only $3.6/bbl to $113.4/bbl contracting the spread by $8.6/bbl. A small...Read Full Story

How Oil Refineries Make Money posted an update:   18 hours, 42 minutes ago · View How Oil Refineries Make Money Go up to 25,000 miles or 1 year with AMSOIL oil change!.. Buy ViSalus products and shakes Join Body by We 90 Day Challenge.. Yes Energy Summit reveals the secrets of the rich make them millionaires.. 2011 Best Work-at-home programs.. Earn money now . a58e9c23e7 We have openings for the money at home online workers.. Given the importance of crude oil derivative products...Read Full Story

HOUSTON ( Reuters ) - A tanker collided with a cargo vessel in the Houston Ship Channel early on Tuesday, officially shutting it for several hours, and fog kept ships halted even after the Coast Guard reopened the key oil waterway. There were no injuries, no fires and no spill after the tanker Charleston collided with the cargo vessel Harvest Sun about 8 a.m. CST (1400 GMT) near Texas City , in the lower end of the 53-mile (85-km) manmade waterway. The vessels, both about 50,000 deadweight...Read Full Story

Upstream Global PSCM has launched a program to provide common process, procedures and policies to execute materials management in BP Upstream and is defined as Plan / Requisition / Buy / Receive / Store / Manage / Preserve / Move / Use and Dispose materials. The Materials Management program will streamline our interface within the company and will reduce BP and supplier materials management handling costs. Value is derived from greater materials planning, utilizing efficient materials...Read Full Story