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Oil Market Volatility Set To Soar This Month
Oil Market Volatility Set To Soar This Month After two months of an almost uninterrupted increase, crude oil is set for even more volatility on a string of political events that could see it either touch US$80 or even higher by the end of June or, conversely, slump to deep lows again. President Donald Trump […]
Catastrophic Cyberattacks Threaten Big Oil
Catastrophic Cyberattacks Threaten Big Oil There are over a million oil and gas wells in the United States. There are also several hundred thousand miles of pipelines. Digitization is on the rise in the notoriously conservative oil and gas industry as companies wake up to the cost and operational efficiency boost that sensors and algorithms […]
Goldman: Oil Demand Will Continue To Soar
Goldman: Oil Demand Will Continue To Soar Oil demand is growing, and production is falling. This is the message we have been receiving for a few weeks now with increasingly frequency, especially after OPEC’s leader Saudi Arabia admitted it would like oil prices even higher than US$70. Like a genie from a lamp, the market […]
Russia Bets Big On Arctic Oil
Russia Bets Big On Arctic Oil Gazprom Neft, Russia’s fourth largest oil producer, has big plans for its Arctic oil operations, and it seems that neither sanctions nor production cuts can force it to quit its presence there. In fact, the oil division of Gazprom will try to turn itself into what its head of […]
Saudi Officials Worried About Oil’s Future
Saudi Officials Worried About Oil’s Future Saudi government officials like talking to the media about oil. They invariably come across as upbeat, confident that the OPEC deal will achieve its goal of shrinking the global oversupply, and equally confident that U.S. shale will not seriously eat away at their oil revenues, however fast it grows. […]
The Struggle Continues For Bankrupt Shale Drillers
The Struggle Continues For Bankrupt Shale Drillers Remember the wave of bankruptcies that hit shale E&Ps and oilfield services providers in the shale patch between 2015 and 2017? Over those two years, more than 120 oil and gas producers filed for bankruptcy protection in the United States, figures from Haynes & Boone showed last year. […]
Alberta’s Aggressive Renewable Energy Push
Alberta’s Aggressive Renewable Energy Push One Canadian province has set its sights on generating almost a third of its electricity from renewable sources by 2030. This will take some US$7.77 billion (C$10 billion) in investments by that year to add 5 GW of renewable capacity, creating more than 7,000 jobs. The province is Alberta—the center […]
Oil Prices Fall As EIA Confirms Inventory Build
Oil Prices Fall As EIA Confirms Inventory Build After a surprise 5.32-million-barrel inventory build reported by the American Petroleum Institute (API) weighed on oil prices yesterday, the Energy Information Administration (EIA) is reportinga build of 1.6 million barrels for the week ending March 23. The markets, which have not had a chance to react to […]
China Now Produces More Oil Abroad Than At Home
China Now Produces More Oil Abroad Than At Home China is among the most import-dependent large oil consumers, but imports, it seems, are not its only problem when it comes to oil. Apparently, production from assets the Chinese state oil companies own abroad now exceeds domestic production, increasing the country’s dependency on foreign oil. That […]
Saudi Arabia Plans Its Own Shale Revolution
Saudi Arabia Plans Its Own Shale Revolution Saudi Arabia has big gas plans, with Aramco eyeing a twofold increase in its natural gas production over the next ten years as it seeks to switch local power plants to gas from oil, so it can export more crude. This gas, apparently, could come from shale deposits. […]
Canada’s Oil Crisis Continues To Worsen
Canada’s Oil Crisis Continues To Worsen Canadian oil producers can’t get a break. First it was the pipelines — there are not enough of them to carry the crude from Alberta’s oil sands to export markets. This pipeline capacity problem has been forcing producers to pay higher rates for railway transportation, which has naturally hurt […]
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 […]
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 […]
UK’s Secret Cold War Plan For Middle East Oil Fields
UK’s Secret Cold War Plan For Middle East Oil Fields The 1950s were a turbulent time on both sides of the Iron Curtain. With the Second World War over and the star role played by crude oil in its outcome, British and U.S. intelligence agencies wasted no time working out scenarios should the Soviets invade […]
An Unsolvable Natural Gas Dilemma
An Unsolvable Natural Gas Dilemma Natural gas isn’t the first thing that comes to mind at the mention of the Netherlands. Clean energy is a more likely association. And yet gas is at the center of one of the country’s major headaches. At the heart of the problem is the giant Groningen gas field that, […]
