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Month: May 2016

Category:
  • Prices

Oil prices dip on strong dollar, rising Canadian output

Oil prices dipped on Monday as a strong dollar weighed on markets and Canadian oil sands production was expected to increase this week. Crude markets, however, did receive some support Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Heading for $60

The UAE’s economy minister sees oil jumping to $60 per barrel in the next few months. “It’s possible for oil prices to reach $60 or more during this summer,” UAE Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Speculators No Longer Confident In Price Crash

If the whims of oil speculators are anything to go by, then another oil price downturn looks increasingly unlikely. Oil prices have gained more than 80 percent over the past Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Oil Supply

EIA World Crude Oil Production

The EIA has apparently stopped publishing its International Energy Statistics. Instead they are now publishing an abbreviated version on their Total Energy web page titled: Tabel 11.1b World Crude Oil Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Prices

Libyan Guards Battle Islamic State to Retake Town Near Oil Ports

Libya’s Petroleum Facilities Guard captured a town near the country’s biggest oil port of Es Sider after clashes with Islamic State militants as the divided country works to reunite factions Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Saudi Arabia
  • Yemen

Yemen rebels launch missile into Saudi Arabia

Yemen’s Houthi rebels have launched a missile over the border into Saudi Arabia for the first time in weeks in the latest violation of a shaky truce between the insurgents Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Libya

Libyan forces advance in push on Islamic State strongholds

Libyan forces loyal to the U.N.-brokered government advanced on Monday against two key Islamic State strongholds, with several officials saying the troops had taken a town from the extremists. The Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Prices

Questions About New Saudi Energy Minister Likely to Dominate OPEC Meeting

Saudi Arabia’s new energy minister, Khalid al-Falih, shown in a January photo, has a full… As the Organization of the Petroleum Exporting Countries prepares to meet this week, representatives say Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Libya

Libyan oil guard says captures coastal town from Islamic State after clashes

A force that controls oil terminals in eastern Libya said it had captured the town of Ben Jawad from Islamic State, pushing the militant group back along a coastal strip Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Iraq

Iraq joins Mideast rivals raising oil exports ahead of OPEC meeting

Iraq will supply 5 million barrels of extra crude to its partners in June, industry sources familiar with the issue said, joining other Middle East producers by lifting market share Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Saudi Arabia

Questions About New Saudi Energy Minister Likely to Dominate OPEC Meeting

Saudi Arabia’s new energy minister, Khalid al-Falih, shown in a January photo, has a full… As the Organization of the Petroleum Exporting Countries prepares to meet this week, representatives say Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Iran
  • Iraq
  • Turkey

Iran And Turkey Court The KRG For Oil

Oil pipeline Two years ago, while Kurdish oil was flowing to Turkey’s port of Ceyhan, Iran and the Kurdistan Regional Government (KRG) signed a natural gas-for-oil agreement that included the Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria’s Oil Production In Free Fall After More Attacks

Niger Delta Militants The resurgence of Niger Delta militancy has reached the level of an all-out renewal of conflict that Nigeria’s security forces appear incapable of stopping, and force majeure Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • East Africa

Gas Slump Defers Eastern African Nations’ Transformation

Construction workers building a new bridge against the skyline of Mozambique’s capital, Maputo, in April…. Along Africa’s resource-rich eastern coast, the promise of gas-fired prosperity is wafting into an uncertain Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria’s Buhari Gives Central Bank Go-Ahead for Flexible Naira

Nigeria’s President Muhammadu Buhari has given the nation’s central bank the go-ahead to introduce flexibility in the naira exchange rate, his spokesman said on Monday. “The president is opposed to Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • China

‘Teapot’ Refineries Shore Up China’s Demand for Crude

While oil shipments to other parts of the world languish, this port in eastern China has an unusual problem—a lengthy queue of tankers waiting up to two weeks to unload Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Oil Supply

Mothballed ships in SE Asia show pain inflicted by oil slump

Fishermen pass a row of vessels are moored in the waters along a row of shipyards northwest of Waterfront City on Batam island, in Indonesia’s Riau Islands Province February 26, Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • China

Beijing’s Electric Bikes, the Wheels of E-Commerce, Face Traffic Backlash

A squeal of brakes, the screech of ripping metal and a battery-powered, three-wheel scooter — top-heavy with parcels for delivery — tips over after hitting a car. The courier picks Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Solar

When Will Solar Overtake Oil?

Solar Power Cells Several years ago, when I was working on my book Power Plays , I spent a lot of time thinking about the future of energy. One thing Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • USA

U.S. oil prices rise on start of summer driving season

U.S. oil prices were lifted early on Tuesday by the start of the peak demand summer driving season, although international fuel markets were weighed down by rising output in the Continue Reading

Posted On : 31 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil prices dip on strong dollar, rising Canadian output

Oil prices dipped on Monday as a strong dollar weighed on markets and Canadian oil sands production was expected to increase this week. Crude markets, however, did receive some support Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Near $50 Amid Drop in U.S. Rigs, Disruptions in Nigeria

Oil traded near $50 after a drop in active rigs in the U.S. and further supply disruption in Nigeria. Futures rose as much as 0.8 percent in New York. Rigs Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Prices

Fueling Oil’s Push to $50: Fear Is Back

Oil-supply outages are at their highest level in more than a decade, bolstering the “fear premium” that has helped push crude prices to $50 a barrel. About 3.5 million barrels Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Pessimists Exit Market as Supplies Seen Closer to Balance

The oil market doomsayers are beginning to capitulate. Speculators reduced bets on falling prices to the lowest level in 11 months as oil briefly breached $50 a barrel on signs Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Oil Supply
  • Prices

Big oil groups raise net debt by a third to cope with low prices

The net debts of the largest Western oil companies have surged by a third over the past year, increasing their vulnerability to another fall in oil prices.  The aggregate net Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Oil Supply

3 Years Of Painful Cuts Sets Markets Up For Serious Supply Crunch

Total global oil production could decline for the next several years in a row as scarce new sources of supply come online. According to data from Rystad Energy, overall global Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • OPEC

OPEC Expected to Keep Output Steady as Oil Rebalances

The Organization of the Petroleum Exporting Countries isn’t likely to take any coordinated action on crude-oil output at its meeting on Thursday, representatives said, as the group sees signs of Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • OPEC

Oil States Expected to Stick With Saudis : OPEC Reality Check

OPEC members gathering in Vienna June 2 are expected to go along with a Saudi Arabia-led policy focused on squeezing out rivals amid signs the strategy is working. That means Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Iraq

Iraq joins Mideast rivals raising oil exports ahead of OPEC meeting

Iraq will supply 5 million barrels of extra crude to its partners in June, industry sources familiar with the issue said, joining other Middle East producers by lifting market share Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Iraq

Iraqi forces push into Fallujah as IS bombings kill 24

Iraqi forces started pushing into the city of Fallujah on Monday as a wave of bombings claimed by the Islamic State group in Baghdad and near the Iraqi capital killed Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Prices

Africa Refuses to Go Green, Wants Fossil Fuels

African countries face new hurdles in their quest to turn on the lights for about 621 million people as global financiers become increasingly reluctant to fund non-renewable energy projects. It Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Nigeria

Militants blow up Shell, Agip pipelines in Nigeria

Militants blew up strategic gas and crude pipelines belonging to Shell and Agip on Saturday in an increasingly fierce campaign that has chopped Nigeria’s oil production in half, militants and Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Venezuela

Lufthansa grounds flights to struggling Venezuela

Lufthansa has cancelled the only flight between Germany and Venezuela, underlining the worsening conditions and growing isolation of the South American country.  The German airline has flown from its Frankfurt Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Venezuela

In Venezuela the stage is set for a chaotic exit

Oh, that men should put an enemy in their mouths to steal away their brains.Nicolás Maduro’s stint as president of Venezuela has had Shakespearean overtones from the start.  Ascending to Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Tar Sands

Suncor Starts to Bring Canadian Oil Sands Back Online

Suncor Energy said it expects to restart its Canadian oil sands operations, such as work… Canada’s largest crude-oil producer said it expects initial production to commence by the end of Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Shale Oil

The Crude Crash Has Created Oil’s Technological Superpowers

Falling oil prices which started in late 2014 have highlighted an increased emphasis on the cost of producing oil, particularly from shale oil formations in the U.S. With 50 percent Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • China
  • Shale Oil

Chinese Company Makes a Splash in Texas Shale

Crude Oil Pipeline Chinese conglomerate Yantai Xinchao has US$1 billion to blow and is looking to buy oil-producing assets in the Permian Basin as it moves aggressively to expand its Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Climate

The faux insurgency of the climate change deniers and the need for closure

Climate change deniers like to style themselves as latter-day Copernicuses and Galileos , lone visionaries bucking the established wisdom of the ages embodied back then in the teachings of the Continue Reading

Posted On : 30 May 2016 Published By : Tom Whipple
Category:
  • Prices

Wave Of Profit-Taking Keeps Oil From Breaking Out

Dollar strength returns to pressure prices lower, while a bout of profit-taking after hitting the psychological level of $50 is spurring on selling into the holiday weekend. Hark, here are Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Prices

Big Oil Companies Stay Shy Despite Upswing in Prices

Workers on the top deck of the Polar Pioneer oil rig in Seattle in June… The world’s biggest energy companies are treating with caution the rally that briefly lifted crude-oil Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Trade Retreat From $50

Oil prices fell further below the key $50 threshold Friday , as investors took profits from the recent rally and the dollar strengthened. Trading volume was among the lowest for Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Trims Third Weekly Gain as Canadian Crude Supply Returns

Oil trimmed its third weekly advance as Canadian energy producers moved to resume operations after wildfires eased. Futures fell 0.9 percent in New York, paring the weekly advance to 2.7 Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Prices

As crude hits $50 a barrel, options market suggests jitters

With the price of oil finally touching $50 a barrel this week, producers and speculators have been loading up on options to protect themselves from a downside risk, signaling there Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Prices

Oil prices retreat from $50 on oversupply concerns, stronger dollar

Oil futures slipped in Asian trade on Friday after hitting resistance at the $50 a barrel mark as investors worried higher prices could reactivate shuttered crude output, adding to global Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria Bleeds As Militants Blow Up More Pipelines

The nation’s crude oil fortunes took another downward plunge, yesterday, following attacks by Niger Delta Avengers, NDA, on pipelines close to Escravos Tank Farm at Ciera creek, near Abiteye community, Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Oil Supply

The long twilight of the big oil companies

The annual meetings of some of the world’s largest oil companies this week were like therapy sessions for an industry that is suffering from existential angst. The international objective of Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Sudan

War-Torn South Sudan To Resume Oil Production In July

South Sudan’s transitional government has announced it will resume oil production by July after a halt of more than two years during a bloody civil war for control of the Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Nigeria

Two More Militant Attacks on Nigerian Crude Pipeline – More Barrels Offline

In two simultaneous attacks late on Thursday, the Niger Delta Avengers (NDV) have targeted a state-run crude pipeline near the Batan oilfield. The oil and gas pipeline is near the Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi offers more oil to Asian clients ahead of OPEC meet

Saudi Arabia is offering extra crude to customers in Asia, a sign the world’s largest oil exporter does not intend to cut output as it battles for market share with Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple
Category:
  • Kazakhstan

Why Chevron Is Investing $37B In The World’s ‘’Most Difficult Oil’’

Tengiz Oil Field I wrote Wednesday about Australia’s Oil Search making a major $2.2 billion investment in Papua New Guinea natural gas. Noting this as a sign the right projects Continue Reading

Posted On : 27 May 2016 Published By : Tom Whipple

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