Rigzone Industry News

Saipem and Garbo have teamed up on industrialization, development and commercialization of the latter's proprietary plastic recycling technology.

The world's biggest oil traders say they are still avoiding handling Russian crude.

US oil futures plunged to levels not seen since December 2021 on Wednesday.

Governor Gavin Newsom struck a deal Monday with legislative leaders on a proposal to limit how much profit oil companies can make in California.

Russia surpassed Saudi Arabia as China's biggest oil supplier with refiners taking advantage of cheap barrels.

Venezuela's Tareck el Aissami resigned as the nation's oil minister.

Chevron Corp. is urging Venezuela to clean up Lake Maracaibo in the hope of almost doubling the amount of oil that can be loaded on its ships.

Oil hovered around 15-month lows as a favored spread for hedge funds to trade plunged with banking turmoil shaking confidence across markets.

Group of Seven nations are unlikely to revise a price cap on Russian oil this week, despite initial evidence that crude is selling well below the current $60 threshold.

Canadian taxpayers may end up taking a loss of C$20 billion (nearly $15 billion) on the government-owned Trans Mountain Pipeline.