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Norway Unfazed By Peak Oil Concerns
Norway Unfazed By Peak Oil Concerns When crude oil demand will peak is anyone’s guess. Forecasts vary widely. Wood Mackenzie says that peak demand is “very real,” and sees a decline of 4 million bpd between 2020 and 2035. Other majors including BP and Total SA see peak demand as coming between 2025 and 2040, as a result of […]
A New Oil Crisis Is Developing In The Middle East
A New Oil Crisis Is Developing In The Middle East After over 40 years in the energy business, more than two decades of that with a parallel career in intelligence, I regularly witness the impact of global developments on the energy markets. So it’s hardly surprising that I often address geopolitical events here. Currently, situations […]
Half A Million Bpd At Risk From Geopolitical Firestorm
Half A Million Bpd At Risk From Geopolitical Firestorm It’s been a long time since geopolitical developments caused major movements in the oil price, but the escalating tension between the U.S. and Iran, combined with the sudden military clashes in Iraq, has pushed geopolitical risk back on to the agenda for the oil market. “Geopolitical […]
Canada Aims To Solve U.S. Nuclear Woes
Canada Aims To Solve U.S. Nuclear Woes Canada believes it may have the answer to replacing some U.S. nuclear capacity with other forms of carbon-free energy. When New York state and Massachusetts retire three nuclear reactors between 2019 and 2021, the two states will lose a combined 2.7 gigawatts of carbon-free power. Both states want […]
China Takes Aim At The Petrodollar
China Takes Aim At The Petrodollar China continues to pursue its ambitious plan to make its currency—the yuan—more international. The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for their oil. China is now trying […]
Canada’s Pipeline Industry Takes Another Hit
Canada’s Pipeline Industry Takes Another Hit Another oil pipeline in Canada bites the dust. TransCanada announced last week that it would scrap its plans to build a 2,800-mile major pipeline that would traverse nearly the entire country, closing off a crucial potential export route for Canada’s oil sands. The $15 billion Energy East pipeline would […]
Oil Prices Spike On Middle East Tensions
Oil Prices Spike On Middle East Tensions Oil prices rose on Friday on bullish data from China showing an uptick in oil imports by 1 million barrels per day in September, from a month earlier. On top of that, anxiety over President Trump’s decision to decertify the Iran nuclear deal, plus simmering tension in Iraq […]
World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018
World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018 The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol. US oil production has steadily increased throughout 2017 as US drillers regained their footing after the […]
Russia And China Continue To Boost Oil Ties
Russia And China Continue To Boost Oil Ties Even before the OPEC/non-OPEC production cuts took effect in January 2017, Russia had already beaten Saudi Arabia to become China’s single largest oil supplier for 2016. Since then, Saudi Arabia has sacrificed still more of its market share in the prized Chinese market, while Russia has dominated […]
The Geopolitical Consequences Of U.S. Oil Exports
The Geopolitical Consequences Of U.S. Oil Exports Two crucial things happened yesterday. The first you may have noticed – oil prices moved back up. As for the second, most so-called “experts” seemed to have missed. See, the environment we’re seeing in energy markets is very different from what we saw only a week ago, when […]
Gulf Of Mexico Output Falls Nearly 100% After Hurricane Nate
Gulf Of Mexico Output Falls Nearly 100% After Hurricane Nate As of Sunday, 92.61 percent of crude oil production capacity in the Gulf of Mexico was shut in, the Bureau of Safety and Environmental Enforcement said. In barrels, this amounted to 1.62 million per day, with 298 platforms and 14 rigs evacuated, representing 40.43 percent […]
Is This The Geopolitical Shift Of The Century?
Is This The Geopolitical Shift Of The Century? The geopolitical reality in the Middle East is changing dramatically. The impact of the Arab Spring, the retraction of the U.S. military, and diminishing economic influence on the Arab world—as displayed during the Obama Administration—are facts. The emergence of a Russian-Iranian-Turkish triangle is the new reality. The […]
Iran, Iraq, And Turkey Unite To Block Kurdish Oil Exports
Iran, Iraq, And Turkey Unite To Block Kurdish Oil Exports Iraq, Iran, and Turkey are taking a unified stance against Kurdistan’s oil sector after the region elected to seek independence from Baghdad in a referendum in September, according to a new report by Rudaw. “In the case of northern Iraq, Iran, Iraq and Turkey will form […]
Scotland To Permanently Ban Fracking
Scotland To Permanently Ban Fracking The Scottish government said on Tuesday that it wants to extend a current moratorium on fracking into a permanent full ban, with a final vote likely taking place at the Scottish Parliament later this year. “I can confirm that the decision of the Scottish Government is that we will not […]
