Oil & Gas

Oil prices are steady, with US crude slipping on weak global equity markets while Brent inched up on geopolitical factors, including violent protests in Iraq.

Crude futures have reversed course, falling more than one per cent after US data showed petrol inventories rose unexpectedly last week, overshadowing a bullish drawdown in crude.

Oil prices fell more than one per cent after a US Gulf storm weakened and moved away from oil-producing areas and concerns mounted about global trade disputes and Turkey's currency crisis hurting demand.

Oil prices were little changed as energy infrastructure on the US Gulf Coast braced for a hurricane, but gains were capped as a stronger dollar and report of rising stockpiles at the Cushing, Oklahoma hub weighed.

Oil prices have risen, supported by concerns that falling Iranian output will tighten markets once US sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.

Oil prices have slipped, pressured by renewed concerns that a global trade war could dent energy demand, although impending US sanctions on Iran and falling Venezuelan output limited the decline.

Oil prices rose on Thursday to the highest in more than a month, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in US inventories.

Oil prices have risen more than one per cent, with Brent at its highest in seven weeks and US crude touching a three-week peak, supported by a drawdown in US crude and petrol stocks and reduced Iranian crude shipments as US sanctions deter buyers.

Oil prices have slipped as some investors take profits on recent strong gains, but losses were limited the day after a US-Mexico trade agreement eased worries about tensions between the two countries.

Oil prices have edged up, supported by a strengthening equities market and news that the United States and Mexico agreed to overhaul the North American Free Trade Agreement (NAFTA).

The state government has formally commenced seeking a UNESCO World Heritage listing of the Burrup Peninsula, which is home to some of WA’s largest industrial facilities and signalled any new projects will need to meet the highest environmental standards.

Shares in MMA Offshore have fallen today, after the marine logistics company forecast a challenging year ahead as part of its 2018 financial report, which also included a $36.3 million loss.

Oil prices gained more than 1 per cent on Friday, ending a run of weekly declines on signs that Iran sanctions may limit global supply and that a trade war may not curb China's appetite for US crude.

Australia's biggest power producer, AGL Energy, has eased out chief executive Andy Vesey and is seeking a new leader at a time when it faces government pressure to slash energy bills and shore up a shaky grid.

Oil prices have steadied as the escalating trade war between the United States and China weighed on demand expectations a day after prices jumped on a big draw in US crude inventories.

Oil prices have jumped three per cent, with Brent crude futures hitting a three-week high, after US government data showed a larger-than-expected draw in crude inventories and as Washington's sanctions on Iran signalled tightening supplies.

Santos is set to become the dominant supplier of gas in the Western Australian domestic market after striking a deal to buy privately-owned Quadrant Energy for $US2.15 billion ($A2.95 billion).

International real estate services company Cushman & Wakefield has been appointed as facility manager of the new Woodside headquarters in Perth, with former Knight Frank director Bret Madden brought on to lead the on-site team.

The market has welcomed a strong annual profit report and positive outlook for Monadelphous, even though the engineering contractor has warned its construction revenue will fall after a big surge in work on the Ichthys LNG project in Darwin last financial year.

Oil futures rose after weeks of declines, as investors grew more concerned about an expected fall in supply from Iran due to US sanctions and worried less that a trade war between the United States and China would hurt economic growth.

Crude prices rose on Friday, but declined on the week on worries that oversupply would weigh on the US market while trade disputes and slowing global economic growth would dampen demand for oil.

Global Energy Ventures is developing a plan to develop stranded gas fields in Malaysia using its floating compressed natural gas technology, after signing a letter of intent with Kuala Lumpur-based Tamarind Resources.

Oil prices rose slightly as global markets steadied, recovering some of the previous day's two per cent slide, though a weakening outlook for crude demand kept prices in check.

Woodside Petroleum has further fleshed out its plans for the Scarborough and Browse LNG developments, as it reported a 6.7 per cent lift in half yearly profit.

Oil prices have edged lower, weighed down by a strengthening US dollar as investors remained concerned about the financial crisis in Turkey.

A joint venture between Minderoo Group-owned Squadron Energy and Goshawk Energy has been awarded a series of petroleum tenements in the Canning Basin.

Shares in Carnarvon Petroleum have regained some of yesterday’s losses, after the oil and gas explorer revealed plans for its lesser known Buffalo project in the Timor Sea.

Paris-based upstream oil and gas engineering business Doris Engineering has set up shop in Perth as it prepares for the next wave of local major projects to get under way.

Oil prices have fallen after data suggested inventories at the US crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand.

Nearly 140 major projects are either under way or planned for WA, new research by Business News has found. Click through to access the new list on the BNiQ Search Engine.

The board of APA Group has accepted a $12.98 billion takeover offer from a consortium led by Hong Kong's CK Infrastructure (CKI), in a deal that will see major gas pipelines in WA sold to a new owner.

Crude oil prices rose more than one per cent on Friday as US sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline as investors worried that global trade disputes could slow economic growth and hurt demand for energy.