Oil & Gas

Oil prices were mixed at the end of last week as a Canadian supply outage supported US crude prices, while an increase in production from OPEC's biggest exporter Saudi Arabia pushed Brent lower.

Oil fell on Thursday after US government data showed an unexpected build in crude oil stockpiles.

Crude prices ended the overnight session slightly higher after a volatile day in which the US benchmark passed $US75 a barrel for the first time in more than three years before turning negative and later recouping its losses.

Oil futures have fallen as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid escalating trade disputes with the United States.

Oil prices have dipped amid escalating trade disputes between the United States and other major economies, although crude markets remained tight due to supply disruptions, high demand, and the looming US sanctions against Iran.

Oil prices have climbed with US crude hitting a three-and-a-half year high, bolstered by supply concerns due to US sanctions that could cause a large drop in crude exports from Iran.

Oil prices have jumped as plunging US crude stockpiles compound supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington's demands that im

Crude futures have jumped more than two per cent and US oil topped $US70 for the first time in two months as Washington pushed allies to halt imports of Iranian crude, which would constrain global supplies.

Oil has fallen as investors prepare for an extra one million barrels per day (bpd) of oil to hit markets after OPEC agreed to raise production and as US equity markets slipped on trade war fears.

Oil prices have soared after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand.

Global benchmark Brent crude has fallen more than two per cent ahead of a meeting of the Organisation of the Petroleum Exporting Countries, where producers were expected to boost output to stabilise prices.

WorleyParsons has been awarded a contract extension for engineering services at Chevron’s Gorgon and Wheatsone LNG projects, while NRW Holdings has received a $93 million extension to its Stanmore Coal contract.

Oil has fallen ahead of a possible increase in OPEC crude supply, and as an escalating trade dispute between the United States and China unleashed sharp selloffs in many global markets.

ConocoPhillips has set up a design competition between two engineering groups led by Technip Oceania and MODEC for the key facilities at its Barossa gas project in the Timor Sea while WorleyParsons subsidiary Intecsea has been awarded a separate contract for subsea infrastructure.

Oil prices have risen in volatile trade as market participants lower their expectations for how much OPEC might increase production and investors assess the impact of a trade dispute between the United States and China.

Oil prices have fallen more than $US2 a barrel after two of the world's biggest producers indicated they might increase output at next week's OPEC meeting, while US exports were threatened by potential Chinese tariffs on crude oil and refined products.

Chevron has today announced that the second processing train at its Wheatstone project in the Pilbara has started production of liquefied natural gas, meaning all five trains at its two giant Western Australian projects are now in production.

Oil prices are mixed, with Brent slipping and WTI gaining, as a stronger US dollar weighs and a key supply-setting meeting of the Organization of the Petroleum Exporting Countries looms.

Oil prices have turned positive after a bigger-than-expected decline in US crude inventories along with surprise drawdowns in petrol and distillates indicated strong demand in the world's top oil consumer.

Oil prices have closed mixed, with US crude settling higher before falling in post-settlement trading, and Brent slipping as investors prepared for a key meeting of the OPEC producer group next week.

The Chamber of Minerals and Energy of WA today confirmed the appointment of Paul Everingham as its new chief executive, while uranium miner Paladin Energy has recruited a former Newcrest Mining executive to lead the company.

Oil prices are little changed as comments from the Iraqi oil minister casts doubt as to whether the Organization of the Petroleum Exporting Countries will decide to boost output at its upcoming meeting.

Global benchmark Brent crude has surged nearly $US2 a barrel, lifted by concern about a steep drop in exports from Venezuela and worries OPEC may not raise production at its June meeting.

Oil prices have fallen on worries that global supply is climbing after US inventories rose unexpectedly and Saudi Arabia and other big producers signaled that they may increase output.

Brent crude have reversed losses, after hitting its lowest price in nearly a month following a report the US government asked Saudi Arabia and other major exporters to increase oil output.

Australis Oil & Gas has secured a $US75 million ($98 million) credit facility with Macquarie Bank to fund drilling within the Tuscaloosa Marine Shale in the US.

Oil prices have fallen about two per cent, with US crude touching its lowest level in nearly two months, breaking below technical support levels as investors keep selling amid growing US production, possible global supply growth and nagging trade tensions.

The state government has backed plans for a 700-bed workers camp at Karratha, despite opposition from the local community, after Woodside Petroleum launched a website that is meant to boost local employment on future gas projects.

Marine logistics company MMA Offshore has secured a three-year contract to charter one of its vessels with a subsidiary of UK-based contractor Subsea 7.

The board of China-focused Sino Gas & Energy Holdings has backed a takeover offer from US private equity group Lone Star, which values the gas producer at $530 million.

Oil prices surged on Wednesday, shrugging off an unexpected build in US crude stockpiles and rebounding from a four-day slump as Russia's central bank expressed caution on plans to boost oil supply.

US crude futures fell more than $US1 on Tuesday on worries that Saudi Arabia and Russia will pump more crude to boost supplies after more than a year of reducing worldwide inventories.