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Tag Archives: oil production
Euro plummets as global oil prices collapse
Euro plummets as global oil prices collapse The euro has plunged to a nine-year low against the dollar on worries that a victory in Greece by the far-left Syriza party in the January 25 election will result in the country’s departure from the European Union. The EU currency’s value, which dived on Monday to $1.1864, a […]
The Next Decade Will Decide Peak Oil Outcome
The Next Decade Will Decide Peak Oil Outcome The most attention-grabbing attempts to predict oil futures have come from geologists and environmental activists, who tend to look solely at production. An overlooked doctoral thesis by Christophe McGlade,Uncertainties in the outlook for oil and gas, in contrast, focuses on how both supply and demand might be […]
Sydney plans to dismantle rail infrastructure built just 6 years ago (part 1)
Sydney plans to dismantle rail infrastructure built just 6 years ago (part 1). Contents: (1) Epping – Chatswood tunnel conversion works proposed (2) Removal of tracks at Epping and Chatswood (3) Operational flexibility reduced (4) Removal of signalling What can the world learn from Sydney’s future “Infrastructure Hub” established by G20 leaders in Brisbane in November […]
Oil Price Plunge Could Take a Bite from Arms Budgets
Oil Price Plunge Could Take a Bite from Arms Budgets UNITED NATIONS, Jan 02 (IPS) – In a satirical piece titled ‘An Unserious Look at the Year Ahead’ in the Wall Street Journal last week, Hugo Rifkind predicts the price of a barrel of oil will fall so low that people across the world […]
Peak Oil from the Demand Side: A Prophetic New Model – Peak Oil BarrelPeak Oil Barrel
Peak Oil from the Demand Side: A Prophetic New Model – Peak Oil BarrelPeak Oil Barrel. The most attention-grabbing attempts to predict oil futures have come from geologists and environmental activists, who tend to look solely at production. An overlooked doctoral thesis by Christophe McGlade, Uncertainties in the outlook for oil and gas, in contrast, focuses on […]
OPEC December Crude Output Slips as Global Prices Tumble – Bloomberg
OPEC December Crude Output Slips as Global Prices Tumble – Bloomberg. Oil production by the 12 OPEC nations slipped less than 1 percent in December, the first month after the group refused to cut output as crude prices tumbled, a Bloomberg survey showed. Output by the Organization of Petroleum Exporting Countries fell 122,000 barrels a day, or […]
Iraq Could Be Oil Market Linchpin
Iraq Could Be Oil Market Linchpin. As hard as it may be to imagine, given today’s rock bottom oil prices and abundant supplies, the world may still struggle to bring enough oil online over the next few decades to meet long-term demand. Global economic growth over the next several decades is predicated on continued growth […]
Petroleum Truth Report: David Hughes Weighs In on The Fracking Fallacy Debate
Petroleum Truth Report: David Hughes Weighs In on The Fracking Fallacy Debate. In the current debate about the Nature article “The Fracking Fallacy,” the discussion has focused on estimates of cumulative production of shale gas plays by the Energy Information Administration (EIA) and The Bureau of Economic Geology at the University of Texas (UT/BEG). David Hughes provides another estimate in […]
Oil rises to $60 per barrel, Libya fire supports | Reuters
Oil rises to $60 per barrel, Libya fire supports | Reuters. (Reuters) – Brent crude oil rose to $60 per barrel on Monday, supported by concerns about disruption to exports from Libya, but a global supply glut kept prices nearly 50 percent off their peak for the year. A fire at one of Libya’s main export terminals has destroyed […]
Fires Spread to Five Crude Tanks at Libya’s Oil Terminal – Bloomberg
Fires Spread to Five Crude Tanks at Libya’s Oil Terminal – Bloomberg. Libyan storage tanks capable of storing 6.2 million barrels of oil, or four times the country’s daily oil production capacity, are at risk of catching fire with southerly winds threatening to spread the blaze. Five tanks are on fire at the Es Sider […]
Egypt And The Double-Edged Sword Of Cheap Oil
Egypt And The Double-Edged Sword Of Cheap Oil. The good news for Egypt: Inexpensive oil means the government needs to spend less on its fuel subsidies for its energy-hungry population of 86 million people, the third largest in the Middle East. The bad news: Rich oil-producing countries in the region are making less money on their […]
China’s Largest Inland Oilfield to Decrease Production / Sputnik International
China’s Largest Inland Oilfield to Decrease Production / Sputnik International. MOSCOW, December 28 (Sputnik) — Daqing Oilfield, the largest oilfield explored by China’s major oil and gas producer PetroChina, is expected to reduce its production starting 2015, as reported by Xinhua News. As discussed at an economic conference of northeast China’s Heilongjiang province on Saturday, Daqing Oilfield, which produces nearly one-fourth of China’s total […]
Oil declines amid stronger dollar, crude oversupply in U.S. | Reuters
Oil declines amid stronger dollar, crude oversupply in U.S. | Reuters. (Reuters) – Oil prices fell Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the United States, trumped worries about falling production from Libya. The market had come under pressure from Wednesday’s Energy Department report, which showed a 7.3 million-barrel […]
Peak Oil Review – 25 December 2014
Peak Oil Review – 25 December 2014. Mid-Week Update Oil futures have been volatile this week, swinging $1-2 a barrel on the latest news. New York crude closed Wednesday at $55.84 a barrel and London at $60.24, about where they have been for the last ten days. This week the up swings came from better […]
Make No Mistake, the Oil Slump Is Going to Hurt the US Too | Casey Research
Make No Mistake, the Oil Slump Is Going to Hurt the US Too | Casey Research. f you only paid attention to the mainstream media, you’d be forgiven for thinking that the US is going to get away from the collapse in oil prices scot free. According to popular belief, America is even going to […]
