Latest Petroleum Stories

New research report “Thermic Fluid Market By Product (Silicone And Aromatics, Mineral Oils, Glycol Based Fluids, Etc.), By Application (Oil And Gas, Chemicals, Solar, Pharmaceuticals, Etc.) - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2012 – 2018” prepared by Transparency Market Research has been recently published by Market Publishers Ltd. London, UK (PRWEB) May 20, 2013 In 2011, revenues of the worldwide thermic fluid industry were estimated at above USD...

HOUSTON, May 20, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that Maryann T. Seaman, Senior Vice President and Chief Financial Officer, will address attendees at the following event: Event: UBS Global Oil and Gas Conference Four Seasons Hotel Austin 98 San Jacinto Blvd. Austin, TX 78701 Thursday, May 23, at 10:25 a.m. EDT Presentation: Live webcast and...

DALLAS, May 20, 2013 /PRNewswire/ -- Permian Basin Royalty Trust (NYSE: PBT) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $0.088488 per unit, payable on June 14, 2013, to unit holders of record on May 31, 2013. This month's distribution increased from the previous month due to increased oil production and higher oil prices offset by lower gas prices. Gas production to the trust continues to be affected by prior period...

SPOKANE, Wash., May 20, 2013 /PRNewswire/ -- Daybreak Oil and Gas, Inc. (OTCBB: DBRM) ("Daybreak" or the "Company"), a Washington corporation, is pleased to announce the results of the third well in the current drilling program at the East Slopes Project in Kern County, California. The Sunday #5 well was drilled to 2,044 feet and encountered approximately 20 feet of oil pay in the Vedder Sand. The Company owns a 37.5% working interest in the Sunday #5 well. This drilling rig has...

DALLAS, May 20, 2013 /PRNewswire/ -- U.S. Trust, Bank of America Private Wealth Management, as Trustee of the Cross Timbers Royalty Trust (NYSE - CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.181743 per unit, payable on June 14, 2013, to unitholders of record on May 31, 2013. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions....

On a year-over-year basis, June prices were down 16.4% versus 2012 SINGAPORE, May 20, 2013 /PRNewswire/ -- Prices of liquefied natural gas (LNG) for June delivery to Asia fell 5.8% to $14.565 per million British thermal units (/MMBtu), as spot demand has failed to rebound in the past few months, according to the latest monthly Platts Japan/Korea Marker (JKM) for month-ahead delivery. The monthly average Platts JKM for delivery in June was assessed over the period of April 16 to May...

TULSA, Okla., May 20, 2013 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that John Chandler, chief financial officer, will present at the 2013 Master Limited Partnership Conference hosted by the National Association of Publicly Traded Partnerships at 8:30 a.m. Eastern on Thurs., May 23 at the Hilton Stamford Hotel and Executive Meeting Center in Stamford, Connecticut. A copy of the slide presentation and audio webcast will be available live on the day...

THE WOODLANDS, Texas, May 20, 2013 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) today announced that it has been awarded and has entered into a contract with the Kuwait Oil Company to provide drilling fluids and related services for land operations. The agreement has an initial term of up to five years, and subject to the customer's activity levels the Company estimates that revenues of up to $75 million may be generated under the contract. The Company expects that work under...

HOUSTON, May 20, 2013 /PRNewswire/ -- Hercules Offshore, Inc. (Nasdaq: HERO) announced that it has entered into an agreement for the sale of eleven inland barge rigs, which includes three active rigs, eight cold stacked rigs, and related assets ("Inland Asset Package") for cash proceeds of approximately $45 million. Excluded from the Inland Asset Package are the Hercules 27, for which the Company has a separate agreement to sell the rig to a third party for $5 million, the Hercules...

SANTA MONICA, Calif., May 17, 2013 /PRNewswire-USNewswire/ -- A green light that Tesoro's purchase of BP's big refinery in Carson complies with anti-trust laws means over time gas prices will go up in the state, Consumer Watchdog said today. The approval by the Federal Trade Commission and California Attorney General of Tesoro's acquisition of BP's Carson refinery and 800 Arco stations in the Southwest is not good for consumers or for competition, the group said. "This might be the...