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Moody’s Pegs Venezuela in “Deeper Phase” Of Financial Insolvency
Moody’s Pegs Venezuela in “Deeper Phase” Of Financial Insolvency Venezuela is now in a “deeper phase of economic stress,” Moody’s Investor Service said on Wednesday, according to The Oil and Gas Journal. Falling oil production and tough economic sanctions have increased pressures on the nation’s financial capacity. Mismanagement and underinvestment in the country’s oil and […]
Russia To Discuss Possible Exit From OPEC Deal
Russia To Discuss Possible Exit From OPEC Deal Russia may be on its way out of the OPEC output reduction deal, according to the country’s Energy Minister, Alexander Novak. Reuters reports that Novak might discuss the country’s potential exit from the pact in Oman next week. Russia had vowed to cut output by 300,000 barrels […]
Is The EIA Overestimating The U.S. Shale Boom?
Is The EIA Overestimating The U.S. Shale Boom? The American shale boom may be overstated by the U.S. Energy Department, according to a new MIT study that suggests the agency may be over-attributing a rise in shale drilling to technological advances. “The EIA is assuming that productivity of individual wells will continue to rise as […]
The 10 Most Influential Oil Countries
The 10 Most Influential Oil Countries The world’s top oil exporters are undoubtedly some of the world’s most influential countries. As such, it behooves analysts to always stay abreast of the internal dynamics of these economic power houses. Here’s what’s going on in the countries that have the power to make or break the oil […]
U.S. Grid Narrowly Escapes Apocalyptic Attack
U.S. Grid Narrowly Escapes Apocalyptic Attack The American grid security story grows increasingly grim. Last week, security consulting firm Symantec warned that recent cyberattacks gave hackers direct access to the nation’s power grid on multiple occasions, according to a new report by Wired. This time, not only the United States was exposed, said Symantec. Europe […]
Are Electric Cars As Clean As They Seem?
Are Electric Cars As Clean As They Seem? Tesla’s unveiling of its mass market Model 3 sparked a global interest in making electric vehicles the next big thing in automobile manufacturing. But can the category’s green agenda keep up with its metal and recycling needs? The concept of bunking the traditional engine for a non-gas […]
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 […]
Permian Still Holds 60-70 Billion Barrels Of Recoverable Oi
Permian Still Holds 60-70 Billion Barrels Of Recoverable Oil The lucrative Permian Basin still holds between 60 and 70 billion barrels of unharvested oil, IHS Markit Ltd said this week. The recoverable resources in the basin shared by Texas and New Mexico could supply crude to every U.S. refinery for 12 years straight—that’s a total […]
Could Kurdish Independence Spark An Oil War?
Could Kurdish Independence Spark An Oil War? As the date of the Kurdish independence referendum approaches, oil industry moguls should be concerned about an oil production war between Iran and headless Iraq. The Kurds are expected to vote on their political status in late September. A vote in the affirmative would mean that Iraq would […]
OPEC’s No. 2 Faces Civil War Threat
OPEC’s No. 2 Faces Civil War Threat Tribal violence in the southern regions of Iraq is erupting on sectarian lines, threatening safety and security at oil facilities, officials told Kurdistan24. A majority of Iraq’s law enforcement network has congregated in the northern and western portions of the country to contain the efforts of the Islamic […]
Fitch Predicts Drop In Oil Prices By 2017 As U.S. Shale Output Soars
Fitch Predicts Drop In Oil Prices By 2017 As U.S. Shale Output Soars Oil bigwigs should take a step back before becoming too comfortable with the new oil price range according to Fitch Ratings’ newest market analysis. “The recovery in US drilling activity will drive up shale oil production in the second half of 2017, offsetting […]
Glut Fears Spike As Europe Runs Out Of On-Land Oil Storage
Glut Fears Spike As Europe Runs Out Of On-Land Oil Storage Oil has been called names (“dirty fossil fuel!”). The cartels use it as a weapon to thwart their rivals. ISIS steals it and pimps it out on some sketchy black market. Swaths of it are set on fire and used as a shield. The […]
