U.S. Petroleum Inventory Drops, Oil Prices Soar Higher

Wednesday, September 29, 1999
Oil's eight-month rally hit yet another high today as dealers cited news that U.S. petroleum inventories had dropped to near-three-year lows as proof OPEC supply curbs were biting deep ahead of winter. Benchmark Brent crude blend touched $24.30 a barrel, a 33-month high, after the American Petroleum Institute said crude stocks in the world's biggest oil consumer fell by 3.7 million barrels last week to stand at their lowest levels in almost three years.

Offshore

Are We on the Crest of an Offshore Wind Wave?

This time last year, when we were preparing to host ABN AMRO’s inaugural international seminar on offshore wind the imminent Borssele offshore wind tender in the Netherlands was a hot topic.

Brazil May Open Petrobras Subsalt Area to Other Companies

Brazil may allow companies besides Petrobras to bid for the right to produce extra oil from areas it sold to the state-led oil company in 2010, the head of the

Vallianz Rejects Payment Request from Swiber Managers

Vallianz Holdings, which provides support vessels for the oil industry, said on Wednesday it had refused a request from the judicial managers of shareholder Swiber Holdings to pay around $63.

 
 
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