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Oil Exploration Grows But Discovered Volumes Fall To New Lows
Oil Exploration Grows But Discovered Volumes Fall To New Lows Rystad: in the first half of 2023, explorers found 2.6 billion barrels of oil equivalent. The exploration and production (E&P) industry is in a transitionary period, with many companies exercising increased caution and shifting their strategies to target more profitable and geologically better-understood regions. In […]
Energy consultancy keeps lowering worldwide recoverable oil resources
Energy consultancy keeps lowering worldwide recoverable oil resources It’s hard to say that three years makes a trend. But one of the world’s major energy consulting firms has lowered its estimate of world oil reserves for three years in a row now. Rystad Energy provides a publicly available analysis of world oil reserves each year. In […]
European Natural Gas Prices To Triple In “Perfect Storm”
European Natural Gas Prices To Triple In “Perfect Storm” A top commodity research firm in Norway warns a “perfect storm” is brewing as European energy security worsens following Russia’s invasion of Ukraine, which could result in the tripling of natural gas prices. “There simply is not enough LNG around to meet demand. In the short term, […]
Europe May Face LNG Crisis This Winter
Europe May Face LNG Crisis This Winter Rush to wean off Russian gas has made European consumers highly vulnerable to LNG price shocks. Global LNG demand outstrips supply in 2022. New LNG projects are unlikely to provide relief until 2024. A liquified natural gas (LNG) crisis is brewing for European countries dealing with energy insecurity […]
Could The World Really Run Out Of Oil?
Could The World Really Run Out Of Oil? Stop staring at your gains from the energy stocks for a second here. Take a seat in a nice quiet place and ask yourself this one really simple question: if oil demand continues to grow at ~1 million b/d for the next 8-10 years, where is the […]
World’s Recoverable Oil Resources Shrinks By 9%
World’s Recoverable Oil Resources Shrinks By 9% Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our 2021 review deals a major blow for the size of the world’s remaining […]
Why The World Might Not Have Enough Oil To Meet Demand Trough 2050
Why The World Might Not Have Enough Oil To Meet Demand Trough 2050 The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the Covid-19 pandemic and the accelerating energy transition – unless exploration speeds up significantly and capital expenditure of […]
Global Gas Production Set To Tumble In 2020
Global Gas Production Set To Tumble In 2020 Natural gas production, which was originally projected to grow in 2020, is now facing an estimated decline of 2.6 percent. Associated gas from oil fields is going to be hit hardest, with an expected decline of 5.5 percent compared to 2019 levels The biggest drop in associated […]
Oil Market Heading For Months Of Deficit
Oil Market Heading For Months Of Deficit The oil market is set for a deficit from August onwards, even after OPEC+ eases the current cuts that are up for a tentative extension through July, Rystad Energy analysts said on Friday. Assuming that global demand recovery continues in the coming months, the oil market will still […]
Oil Producers May Ditch Old FPSO Offshore Projects In This Downturn
Oil Producers May Ditch Old FPSO Offshore Projects In This Downturn The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s […]
U.S. Shale Faces Largest Ever Drop in Fracking Activity
U.S. Shale Faces Largest Ever Drop in Fracking Activity The Covid-19 crisis combined with the oil price war is about to trigger the largest ever monthly drop in U.S. fracking activity. The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is […]
Tight Oil Markets Could Be About To See A ‘Violent’ Price Spike
Tight Oil Markets Could Be About To See A ‘Violent’ Price Spike Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, according to Rystad Energy. Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates (UAE) this weekend, sending crude […]
Saudi Arabia Will Cap The Oil Price Rally
Saudi Arabia Will Cap The Oil Price Rally The US said on Monday that it won’t extend the sanctions waivers for eight countries importing crude oil from Iran. The move could remove around 1.1 million barrels per day from the market. Although Rystad Energy anticipated a further tightening of sanctions, the details in the announcement […]
5 Things To Watch In Natural Gas
5 Things To Watch In Natural Gas A new report from Rystad Energy identifies five vital themes that will shape global gas markets in 2019. Significant LNG production growth, the rise of US gas to challenge Russian dominance in Europe, insatiable demand in Asia, price pressure in selected regions, and a need for final investment decisions on planned […]
Evidence Mounts For Shale Slowdown
Evidence Mounts For Shale Slowdown There is a growing pile of evidence pointing to a slowdown in the U.S. shale industry, as low prices take their toll. The rate of hydraulic fracturing began to decline in the last four months of 2018, a sign that U.S. shale activity began to slow even before the plunge […]
