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Aramco’s Mythical Ghawar Field Could Be Its Weak Spot
Aramco’s Mythical Ghawar Field Could Be Its Weak Spot Some of the most secretive, highly-anticipated details about the Saudi oil industry have just been released. Saudi Aramco is preparing to launch a major bond issuance to purchase the Saudi petrochemical company Sabic, a process that required a detailed prospectus on the company. As part of that review, […]
Oil Prices Spike On Shale Slowdown
Oil Prices Spike On Shale Slowdown The collapse of oil prices late last year, along with pressure from shareholders, has led to a slowdown in the U.S. shale industry. The EIA released new monthly data on March 29, which revealed a decline in output of about 90,000 bpd between December and January, evidence that shale drillers slammed […]
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015 OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela continued to struggle amid U.S. sanctions and a major blackout, the monthly Reuters survey showed on Monday. The […]
The Oil Industry Faces A ‘Crisis Of Confidence’
The Oil Industry Faces A ‘Crisis Of Confidence’ The oil industry is starting to feel the pressure of climate change. Oil executives, by and large, have not been swayed to change their business practices despite years of warnings about the climate crisis. However, they are beginning to listen to shareholders who are demanding change, while […]
The Easy Money In European Natural Gas Is Gone
The Easy Money In European Natural Gas Is Gone At the end of last winter’s heating season, it was an unusually cold spell that upended European natural gas markets, with storage levels falling below average and prices firming up as demand shot up. At the end of this winter’s heating season, it is the unusually […]
Is This A Precursor For Peak Oil Demand?
Is This A Precursor For Peak Oil Demand? The $1 trillion sovereign wealth fund of Norway may sell off all of its shares in oil producers. The move is a shot across the bow for the oil industry. A $1 trillion fund, built on oil itself, now sees the future of oil as too risky. […]
Vietnam’s Energy Dilemma Is About To Become A Crisis
Vietnam’s Energy Dilemma Is About To Become A Crisis Vietnam can’t seem to get a break. The country lies just beneath China, its giant neighbor to the north, and shares many of the same socialist ideals that Beijing promulgates. However, Sino-Vietnamese relations have been a source of tension for years dating back to the colonization […]
Be Wary Of Unrealistic Shale Growth Expectations
Be Wary Of Unrealistic Shale Growth Expectations U.S. shale drillers are facing a serious problem: Their wells are not producing as much oil and gas as they had anticipated. When facing shareholder scrutiny, shale drillers have countlessly hyped the litany of technological breakthroughs, efficiency gains and innovative drilling techniques. Indeed, production from U.S. E&Ps has […]
Shale Growth Is Nearing An Inflection Point
Shale Growth Is Nearing An Inflection Point Drilling activity has plateaued in much of the U.S., with the rig count zig-zagging well below the peak from last November. The rig count often rises and falls in response to oil prices, but on a several-month lag. It takes some time before oil companies make drilling decisions […]
Wall Street Loses Faith In Shale
Wall Street Loses Faith In Shale To Wall Street, the shale industry has lost a lot of its allure. A decade’s worth of promises have failed to materialize, and Big Finance is cutting some of its ties with smaller shale drillers who have not delivered. The Wall Street Journal reports that the shale industry only saw $22 […]
U.S. Warns The World Against Buying Venezuelan Oil
U.S. Warns The World Against Buying Venezuelan Oil U.S. National Security Advisor John Bolton has warned countries and companies against buying crude oil from Venezuela, after the Latin American country’s Oil Minister Manuel Quevedo said during a surprise visit to India that Venezuela wants to sell more oil to the fast-growing Indian market. In a […]
The Renewable Revolution Has A Lithium Problem
The Renewable Revolution Has A Lithium Problem As the global middle class rapidly expands, so too does the worldwide demand for energy and its subsequent carbon footprint. Global climate change will be one of the greatest, if not the single greatest, challenges of this next century, and one of the few feasible solutions that is […]
This Is Just The Beginning Of Europe’s Gas War
This Is Just The Beginning Of Europe’s Gas War In a move that should not surprise energy pundits nor even those that follow geopolitical news in Europe, on Thursday Russian gas giant Gazprom said it’s looking to gain an even larger gas market share in Europe following record-high 2018 exports, as it expects a decline […]
Controversial Nord Stream 2 Pipeline Could Be Operational By November
Controversial Nord Stream 2 Pipeline Could Be Operational By November In what would be an early geopolitical win for Moscow, German news agency DW reported yesterday, citing one of the project’s engineers, that the Nord Stream 2 natural gas pipeline should be operational by November. Klaus Haussmann, an engineer at Nord Stream 2’s future landfall site […]
Shale Pioneer Hamm: Output Growth Could Fall By 50%
Shale Pioneer Hamm: Output Growth Could Fall By 50% U.S. shale production growth could slow by as much as half this year, according to one industry titan. Continental Resources’ Harold Hamm said that shale growth could decline by as much as 50 percent this year compared to 2018, although he added that it was just […]
