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Month: September 2016

Category:
  • Prices

Oil Drops as Prospects Fade for OPEC Deal

Pipelines at the Zueitina oil terminal in Libya. OPEC members Nigeria, Libya and Venezuela want… Oil prices fell Tuesday as hopes for any deal between the Organization of the Petroleum Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil prices fall as Venezuela says market is 10 percent over supplied

Oil prices fell on Tuesday after Venezuela said that global crude supplies needed to fall by 10 percent in order to bring production down to consumption levels, confirming analyst views Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Rise on Libya Unrest

Oil prices edged higher Monday after fighting engulfed Libya’s key Eastern crude-oil ports over the weekend. Brent crude for November delivery rose 1.14% to $46.28 a barrel on London’s ICE Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Oil Supply

Shifting Strategies: Big Oil Looking At Low-Cost Fields

Oil workers Oil supermajors have come to realize that shrunk capex plans will make their exploration efforts profitable in lower-cost, lower-risk areas, and have changed drilling tactics to the ‘less Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Venezuela says global oil supply exceeds demand by 10 percent

Global oil supply of 94 million barrels per day needs to fall by about a tenth if it is to match consumption, Venezuela’s Oil Minister Eulogio Del Pino said on Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela Crises Compound as Oil Industry Falls Into Disarray

One oil rig was idle for weeks because a single piece of equipment was missing. Another was attacked by armed gangs who made off with all they could carry. Many Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Shale Oil

North Dakota shale on slow recovery

North Dakota shale activity slowly increasing, though some players are still waiting around for oil to hit $60 per barrel, state official said. Photo by David Gaylor/Shutterstock BISMARCK, N.D., Sept. Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Pipelines
  • Shale Oil

Easy resolution unlikely for contentious Dakota pipeline

A potential rerouting of a long-anticipated pipeline at the center of a protest in North Dakota would be a laborious and costly task, possibly delaying a startup by months and Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Texas economy still under pressure

The number people in Texas who want to work full time but can’t find jobs in the oil-rich economy remains above recessionary levels, a report found. The Federal Reserve Bank Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

The United States is both a major importer and exporter of motor gasoline

The United States simultaneously imports and exports gasoline because of regional differences in gasoline supply and demand balances. The two regions with the largest supply and demand imbalances are the Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Shale Oil

Is U.S. Shale Nearing Collapse?

Oil Rig Crude oil production in the United States has decreased by more than 10 percent since the record high of 2015, from 9.6 million barrels per day (mmbpd) to Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Transportation
  • USA

U.S. motorists wasted billions on premium gasoline last year: AAA

U.S. consumers wasted billions of dollars last year filling their cars with costly premium-grade gasoline for no tangible benefit, according to a study by the country’s leading motorist advocacy group. Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Pipelines

Pipeline Break Lights a Fire Under Gasoline Prices Across Southeast

Supply is crimped… Gasoline prices have surged across the Southeast, as the partial closure of a major pipeline has left some gas stations scrambling for fuel and many drivers stuck Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Shale Oil

Frack Sand: The Unsung Hero Of The OPEC Oil War

Fracking operations The late-2014, Saudi-initiated oil-price war may have taken the ‘boom’ out of the US shale industry as it seriously threatened OPEC market share, but Saudi victory has been Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • International Oil Companies

Oil Investment Crash Could Continue For Another Year

Offshore Oil Rig Investment in upstream operations in the oil and gas industry shrank by a quarter last year and is expected to continue shrinking this year by another 24 Continue Reading

Posted On : 20 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Rise on Libya Unrest

Oil prices edged higher Monday after fighting engulfed Libya’s key Eastern crude-oil ports over the weekend. Brent crude for November delivery rose 1.14% to $46.28 a barrel on London’s ICE Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil up as Venezuela sees output deal, Libya suffers clashes

Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non-OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Investors Flee as OPEC Freeze Hopes Face Supply Reality

Speculators cut bets on both lower and higher WTI prices: CFTC OPEC, other crude exporters to meet in Algiers on Sept. 27 Oil speculators headed for the sidelines as OPEC Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Can OPEC Remain the Ultimate Energy Superpower?

The 2016 OPEC (Organization of the Petroleum Exporting Countries) meeting in Algiers later this month has received undue importance from market analysts hoping that Kingdom of Saudi Arabia and non-OPEC Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • Iran
  • Prices

Iran supports any move to stabilize oil market: Rouhani

Iranian flags are seen at a petrol station in Tehran, Iran, January 25, 2016. Iran’s President Hassan Rouhani said Tehran supports any move to stabilize the global oil market and Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • International Oil Companies

Big Oil Was Never That Big a Money-Maker, Goldman Sachs Says

Oil companies longing for the glory days of ultra-high crude prices might wish to think again. The rising oil prices that came to characterize energy markets in the mid-2000s, and Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • p-

THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Big Trouble For The U.S.

The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance. Just a few years ago, the U.S. Energy Industry and Mainstream media were Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • p-

Russia’s ruling party tightens its grip on lower house

Russia’s ruling party has tightened its grip on the Duma after parliamentary elections on Sunday were marred by irregularities and the lowest turnout in president Vladimir Putin’s 17 years in Continue Reading

Posted On : 19 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Drop as Attention Turns Toward Glut in Stocks

Oil prices fell Friday as markets focused on the glut in oil stocks after the shutdown of the Colonial Pipeline, which transports 1.2 million barrels of gasoline a day in Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil prices drop as growing supplies stoke glut concerns

A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. Oil prices fell more than 1 percent on Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Down As Glut Fears Return

Oil prices fell on Friday as the IEA downgraded its projections for oil demand, dashing hopes that oil markets would rebalance this year.  Oil prices posted another down week after Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Why OPEC Will Put The Brakes On At $60 Oil

OPEC says a price near $60 will avoid added shale production Recently renewed talks of a production freeze among OPEC and some non-OPEC producers including Russia have helped to bolster Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Syria

Coalition Air Strikes Wipe Out More ISIS Oil Assets In Syria

Air Strike Coalition military forces have carried out 10 air strikes against ISIS targets in Syria, destroying five supply routes, oil well heads and oil tanker trucks, the Combined Joint Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Libya

Oil Tanker Due to Load Crude at Key Libyan Port Has Small Delay – Bloomberg

An oil tanker that’s supposed to collect crude from a key Libyan export terminal for the first time in almost two years is encountering a slight delay, an official said. Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Nigeria

S&P Downgrades Nigeria Further Into Junk as Oil Woes Worsen

Rating lowered from B+ to B, outlook now stable from negative GDP seen contracting 1 percent in 2016, grow 2 percent in 2017 S&P Global Ratings downgraded Nigeria further into Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Venezuela

PDVSA Offers Citgo Backing to Sweeten $7 Billion Bond Swap

Company wants to exchange bonds due in 2017 for 2020 debt PDVSA to offer new bonds at 1:1 ratio to old until Sept. 29 Venezuela’s state-owned oil company says it Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • USA

N.Y. Probes Exxon’s Valuation of Oil Reserves

A.G. investigating whether Exxon hid risks of climate change Schneiderman focuses on period during global price collapse New York Attorney General Eric Schneiderman’s probe into Exxon Mobil Corp. includes scrutiny Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Electric Cars

Elon Musk Wanted a Race. Now He Has One

Two hundred thirty-eight. Not so long ago that number would have been unthinkable. When Tesla Motors Inc. rolled out its first electric car, the 2008 Roadster, it boasted what was Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Pipeline shutdown in Alabama could send gas prices higher

Motorists in parts of the country could pay a little more for gasoline in coming days because of the shutdown of a leaking pipeline in Alabama. Experts say that any Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Three new oil sands projects approved in Alberta

Three new oil developments in the Fort McMurray area could add up to 95,000 barrels of oil per day to current output, Alberta’s government said. The provincial government approved three Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Shale Oil

North Dakota Crude Oil Production Stabilizes in July

North Dakota oil production rose slightly in July, stabilizing after a drop in the previous month to more than two-year lows, according to the latest data from the state’s Department Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Shale Oil

Bakken July Production Data

North Dakota has just come out with their oil production numbers for July 2016. Bakken production was up by 3,046 barrels per day while all North Dakota production was up Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • International Oil Companies

Exxon probe faces uphill climb amid ambiguous accounting rules

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, New York, U.S. December 30, 2015. New Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • USA

No-Name Gasoline No Longer a Bargain After Supply Dries Up

Unbranded prices soar over name brands in southeastern U.S. Safety agency corrective order issued on major gas pipeline Loyalty to your local mom-and-pop gas station may come at a price. Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • International Oil Companies

When Should a Company Write Down Assets

New York Attorney General Eric Schneiderman is investigating why Exxon Mobil Corp. hasn’t written down… New York Attorney General Eric Schneiderman is investigating why the oil giant hasn’t written down Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • United Kingdom

Against All Odds, North Sea Proves Resilient to Oil-Price Slump

Output in U.K. North Sea will rise through 2018: WoodMac Region joins Russia, Norway in bringing down costs to survive Oil producers in the North Sea were supposed to be Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Shale Gas

Statoil completes sale of Marcellus acreage

Norwegian energy company Statoil said it retained some of its shale acreage in the United States, but completed a sale Friday of assets in West Virginia. Statoil said it closed Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Russia

Russia bases economic forecast on $40 oil

The Central Bank of Russia lowers rates and forecast for economic growth in 2017, basing its forecast on oil priced at $40 per barrel. Photo by DyMax/Shutterstock MOSCOW, Sept. 16 Continue Reading

Posted On : 17 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Set for Weekly Drop as Resilient Supply Seen Sustaining Glut

Libya, Nigeria plan higher output; IEA sees glut persisting All 14 OPEC members are said to be attending Algiers meeting Oil headed for a weekly loss on speculation a global Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil prices drop as growing supplies stoke glut concerns

A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. Oil prices fell more than 1 percent on Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Crude Rises In Spite Of Poor Economic Data

Crude has just given up the ghost of a rally, as poor economic data weighs on broader market sentiment again. As the dollar rallies, despite waning rate hike hopes, crude Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Rise with Gasoline, Diesel

Gasoline made some of its biggest daily gains of the summer as pipeline and refinery outages had traders surging into fuels, eventually pulling crude prices up, too. Light, sweet crude Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Oil rises on draw in U.S. crude stocks, but supply worries remain

Oil prices rebounded in early Asian trade on Thursday after falling around 3 percent in the previous session, supported by an unexpected fall in U.S. crude inventories. U.S. crude inventories Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple
Category:
  • Prices

Natural Gas Erases Losses After Stockpile Data

Natural gas prices rose to a 2 1/2-month high Thursday, flipping up from losses after data showed a below-average storage addition last week. The U.S. Energy Information Administration said natural-gas Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple
Category:
  • Offshore

Offshore Drillers Brace for More Pain Even With Bottom in Sight

Transocean, Seadrill see utilization rates stabilizing in 2017 As many as 60 more floating rigs need to be scrapped Offshore oil-rig operators, grappling with the biggest industry downturn in a Continue Reading

Posted On : 16 Sep 2016 Published By : Tom Whipple

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