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How To Avoid Blackouts Using 100% Renewable Energy
How To Avoid Blackouts Using 100% Renewable Energy Researchers have proposed three different methods for providing consistent power in 139 countries using 100 percent renewable energy. The inconsistencies of power produced by wind, water, and sunlight and the continuously fluctuating demand for energy often hinder renewable energy solutions. In a new paper, which appears in Renewable […]
Russia Is Taking Over Syria’s Oil And Gas
Russia Is Taking Over Syria’s Oil And Gas If finally happened… In accordance with an energy cooperation framework agreement signed in late January, Russia will have exclusive rights to produce oil and gas in Syria. The agreement goes significantly beyond that, stipulating the modalities of the rehabilitation of damaged rigs and infrastructure, energy advisory support, […]
Saudi/Russia-Led Oil Supergroup In The Making
Saudi/Russia-Led Oil Supergroup In The Making OPEC and the non-OPEC producers’ part of the production cuts deal will have a plan for long-term cooperation drafted by the end of 2018, as they seek to institutionalize their current collaboration into a supergroup of oil producers led by Saudi Arabia and Russia, the UAE’s Energy Minister Suhail […]
Saudi Arabia, Russia Ink 3 Huge Energy Deals
Saudi Arabia, Russia Ink 3 Huge Energy Deals Saudi Arabia hits bullseye, IPO and LNG deals cements geopolitical cooperation Russia Hidden by the fog of the ongoing oil market volatility and the Turkish adventures in Syria, OPEC leader Saudi Arabia has been cementing its geopolitical position for years. In Riyadh meetings this week between Saudi […]
Physical Oil Markets Don’t Lie – Is Another Crash Likely?
Physical Oil Markets Don’t Lie – Is Another Crash Likely? Oil prices are falling and analysts and market players are as eager as ever to explain the decline in accordance with their own bullish or bearish leanings. It’s a natural correction that was only to be expected after the buildup of long bets on crude […]
Is History Repeating Itself In Oil Markets?
Is History Repeating Itself In Oil Markets? Back in 2014, U.S. shale production was growing so fast that it ended up crashing the market. Now, history could be repeating itself. That was the warning from the International Energy Agency, which said in its latest Oil Market Report that a “second wave” of shale supply threatens […]
IEA Warns Of New Oil Glut
IEA Warns Of New Oil Glut The global oil market could slip into deeper oversupply on the back of non-OPEC production growth led by the United States, the International Energy Agency said in its latest Oil Market Report. “The main factor,” the IEA said, “is US oil production. In just three months to November, crude […]
U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff
U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff The budget deal that the U.S. Congress passed and President Donald Trump signed into law last Friday calls for selling 100 million barrels of the Strategic Petroleum Reserve (SPR) by 2027 to help fund the government. The sale of 100 million barrels of crude oil in the next […]
U.S. Shale Companies Are Ready To Expand
U.S. Shale Companies Are Ready To Expand The latest oil rally, which sees crude trading at close to its highest point in three years, is sufficient to garner considerable attention from market pundits, industry insiders and investors alike. It has raised the ugly specter of a sharp uptick in U.S. oil production driven by the […]
Oil Prices Tank As U.S. Drillers Add Massive Number Of Rigs
Oil Prices Tank As U.S. Drillers Add Massive Number Of Rigs As if the recent nosedive that oil prices have taken in the last few days wasn’t bad enough—Baker Hughes reported a staggering increase to the number of rigs. The number of active oil and gas rigs increased by 29 to Baker Hughes data. This […]
Venezuela Is Moving From Crisis To Collapse
Venezuela Is Moving From Crisis To Collapse Venezuela’s slumping oil production is a “clear and present danger” to the oil market, RBC Capital Markets said this week. Venezuela’s production continues to fall at a frightening clip, falling to about 1.6-1.7 million barrels per day (mb/d) in December. On an annual basis, Barclays predicts that Venezuela’s […]
Moody’s Pegs Venezuela in “Deeper Phase” Of Financial Insolvency
Moody’s Pegs Venezuela in “Deeper Phase” Of Financial Insolvency Venezuela is now in a “deeper phase of economic stress,” Moody’s Investor Service said on Wednesday, according to The Oil and Gas Journal. Falling oil production and tough economic sanctions have increased pressures on the nation’s financial capacity. Mismanagement and underinvestment in the country’s oil and […]
U.S. Oil Production Is Rising Much Faster Than Expected
U.S. Oil Production Is Rising Much Faster Than Expected Shale executives have gone to great lengths to convince investors that they will not drill aggressively now that oil prices have rallied into the $60s. But in a new report released on Tuesday, the EIA essentially said that those assurances are just a lot of hot […]
Exxon To Produce All Of Its Oil Despite Peak Demand Fears
Exxon To Produce All Of Its Oil Despite Peak Demand Fears ExxonMobil was forced to finally acknowledge the possibility that future climate change policy could lead to peak oil demand, a serious threat to the company’s operations over the long-term. In response to a shareholder resolution passed last year, the oil major just released a […]
North America’s Next Big Shale Play
North America’s Next Big Shale Play The oil price crash of 2014 not only weighed on Canada’s oil sands industry, but it also directed more company investment into shorter-cycle shale projects in the U.S. at the expense of more capital- and energy-intensive oil sands production in Canada. While the oil sands will continue to be […]
