Tag: crude

Offshore and Subsea – oil & gas project spending review

The sharp decline in crude prices and the subsequent volatility has meant that it’s been an onerous two years for oil producers, a period marked with budget cuts. The situation for the offshore side of the business has been far more severe. Once hailed as the bulwark from peak oil, the massive costs associated with its development in the face of low margins have made it increasingly difficult for companies to commit investments in recent times.

USA: crude oil supply contract

CVR Energy Inc., which owns and operates a 115,000 barrel per day oil refinery in Coffeyville, Kansas, USA, is looking for a supplier to replace a crude oil supply contract with J.Aron & Co which is due to expire at the end of the year.