Oil market rebalancing could take until end 2017: Shell
The huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell’s chief energy adviser Wim Thomas Continue Reading
Oil Discoveries at 70-Year Low Signal Supply Shortfall Ahead
New finds at lowest since 1947 and headed even lower: WoodMac Explorers replacing just 6% of resources they drill: Rystad Explorers in 2015 discovered only about a tenth as much Continue Reading
Is An OPEC Production Freeze Even Remotely Possible?
Oil Rig Oil prices enjoyed a bump last week, thanks in part to a weakened dollar and some geopolitical tensions in the Persian Gulf. But a large factor in the Continue Reading
The Magic Number For Oil Bulls Remains In Sight
Zev Spiro, chief market technician of Orips Research is forecasting oil to reach above $70 a barrel in the near future, as oil’s weekly charts show a bullish “inverse head Continue Reading
World population may rise to nearly 10 billion by 2050
The world population will reach 9.9 billion in 2050, increasing by 33 per cent from an estimated 7.4 billion now, the latest report from the Population Reference Bureau (PRB) has Continue Reading
Iraq Agrees With Kurds to Start Talks on Oil Revenue Dispute
Iraqi, Kurds locked in dispute over oil revenue since 2014 Kurds have been bypassing central government with oil exports Iraq’s prime minister agreed with the semi-autonomous Kurdistan Regional Government to Continue Reading
Major oil firms interested in Eastern Med gas
Major international oil companies have submitted bids to participate in Cyprus’ third licensing round for three southern offshore blocks adjacent to Egypt’s northern waters. The three Cypriot licensing rounds have Continue Reading
Libyan forces say Islamic State beaten back in Sirte
Libyan forces said they captured a residential neighborhood in central Sirte from Islamic State on Monday, leaving just one district of the city still occupied by the militants. Spokesman Rida Continue Reading
Iran to Seek Investment Bids in October Under New Oil Contracts
South Azadegan on Iraq border will be first field offered Oil companies to be invited to submit technical documents Iran will invite international oil companies to submit bids in October Continue Reading
Shell to Sell Gulf of Mexico Oil Assets for $425 Million
Royal Dutch Shell Plc agreed to sell its Brutus/Glider operation in the Gulf of Mexico for $425 million as Chief Executive Officer Ben Van Beurden seeks to resuscitate an explorer Continue Reading