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3 Million Barrels Per Day Could Go Offline In 2018
3 Million Barrels Per Day Could Go Offline In 2018 Venezuela’s oil production has been falling for years, but 2018 could mark a new, darker chapter for the South American nation. Late last year, Venezuela’s government defaulted on millions of dollars’ worth of debt, with larger and more significant payments maturing this year. The ability to […]
Iran Sanctions Will Help China’s Petro-Yuan
Iran Sanctions Will Help China’s Petro-Yuan In a few days, U.S. President Trump may try to re-impose sanctions on Iran, a dramatic step that could heighten tensions between the two countries. Some analysts believe the move could contribute to a much broader global economic power shift from the U.S. to China. The connection between the […]
What’s Behind The Canadian Rig Count Crash
What’s Behind The Canadian Rig Count Crash The U.S. rig count has been on the rise for months, despite some recent hiccups, but Canada’s rig count recently plunged amid low oil prices. Canada’s rig count fell from 210 to 136 for the week ending on December 29, a massive drop off. That took the rig […]
Iranian Crisis Could Send Oil To $100
Iranian Crisis Could Send Oil To $100 Oil prices started the year on a high note as some geopolitical tension pushed aside bearish concerns. Both WTI and Brent opened above $60 per barrel for the first time in years. The protests in Iran were the main driver of the bullish sentiment in the oil market. […]
Russia’s Grip On European Gas Markets Is Tightening
Russia’s Grip On European Gas Markets Is Tightening Despite years of effort from the EU, Russia’s grip over natural gas supplies in Europe is tightening, not waning. Gazprom shipped 190 billion cubic meters of natural gas to Europe in 2017—a record high, according to Bloomberg. In 2018, that figure is expected to dip slightly to […]
The Biggest Oil Story Of 2017
The Biggest Oil Story Of 2017 There have been plenty of eye-catching stories in the energy industry this year, but one notable development has been the rise of the U.S. as a crude oil exporter. The ban on crude exports from the U.S. was lifted at the end of 2015, and exports ticked up in […]
Oil Giants Are Increasingly Focused On Sustainability
Oil Giants Are Increasingly Focused On Sustainability Pioneer Natural Resources just published its first Sustainability Report, a sign that a growing number of oil companies are feeling the heat from investors over climate change. Environmental groups have mostly targeted the largest oil companies, both because their sheer size means that they have a larger impact […]
Trump To Rollback Deepwater Horizon Regulations
Trump To Rollback Deepwater Horizon Regulations The Trump administration is hoping to slash regulations on offshore oil drilling that were implemented after the 2010 Deepwater Horizon disaster that killed nearly a dozen people and led to an oil leak that spewed for months. According to the Wall Street Journal, the Bureau of Safety and Environmental […]
Canadian Oil Prices Plunge To $30
Canadian Oil Prices Plunge To $30 Oil from Canada’s oil sands is now selling at a $27-per-barrel discount relative to WTI, the sharpest difference in more than four years. Western Canada Select (WCS), a benchmark for oil from Alberta’s oil sands, has plunged in December, falling to just $30 per barrel at the end of […]
Is The Oil Glut Set To Return?
Is The Oil Glut Set To Return? For the second month in a row, the IEA has poured cold water onto the oil market, publishing an analysis that suggests 2018 could hold some bearish surprises for crude. The IEA’s December Oil Market Report dramatically revises up the expected growth of U.S. shale, which goes a […]
‘Perfect Storm’ Wreaks Havoc On Europe’s Energy Market
‘Perfect Storm’ Wreaks Havoc On Europe’s Energy Market The natural gas market in Europe suddenly got a lot tighter this week, with two unexpected supply outages wreaking havoc across the continent, forcing Italy to declare a state of emergency. The first incident that made big headlines was the crack in the Forties pipeline in the […]
Exxon To Disclose The Real Risk Of Climate Change
Exxon To Disclose The Real Risk Of Climate Change ExxonMobil finally conceded to the multi-year campaign by shareholders and activists to disclose its risk to climate change, a notable departure after years of trying to dismiss the issue. According to a new filing by Exxon to the U.S. Securities and Exchange Commission (SEC), Exxon said […]
The Massive Energy Bill In The $1 Trillion Infrastructure Package
The Massive Energy Bill In The $1 Trillion Infrastructure Package The GOP tax bill working its way through Congress contains provisions that have huge ramifications for the energy industry, but legislators in Washington may not be done yet. A top Republican on energy issues, Senator Lisa Murkowski, is eyeing a sweeping piece of energy legislation […]
Venezuela Could Lose A Lot More Oil Production
Venezuela Could Lose A Lot More Oil Production After defaulting on debt, Venezuela’s crisis continues to unfold, threatening to worsen the state-owned oil company’s production. PDVSA reportedly told employees that they needed to carry out an austerity campaign, looking for ways to cut costs by 50 percent. The internal memo said that savings needed to […]
Oil Major: 70% Of Crude Can Be Left In The Ground
Oil Major: 70% Of Crude Can Be Left In The Ground Canada’s oil sands are too dirty to be produced, and should probably stay in the ground. That has long been the sentiment of environmental groups, but it is also gaining acceptance even among some of the largest oil companies in the world. “A lot […]
