Milestone reached for Kashagan oil field
More than 7 million barrels of oil produced and exported from the Kashagan oil field off the coast of Kazakhstan since late 2016. Photo courtesy of the North Caspian Operating Continue Reading
Pemex Is So Cash-Starved It’s Selling a Little League Baseball Field
Pemex has put a kids’ recreation park up for sale as it combs through its assets searching for property it can exchange for needed cash. Mexico’s state-run oil company, which Continue Reading
Exclusive: Venezuela’s PDVSA sees 2017 oil output stuck near historic lows – document
The logo of the Venezuelan state oil company PDVSA is seen at a gas station in Caracas, Venezuela January 11, 2017. REUTERS/Marco Bello Venezuelan state energy company PDVSA projects oil Continue Reading
China Commodities Juggernaut Rolls Into 2017 as Records Tumble
The appetite for raw materials in the world’s biggest consumer keeps getting bigger. China’s imports of crude oil and iron ore rose to records in 2016, while coal buying expanded Continue Reading
New offshore oil production starts in China
A Chinese oil company said Friday it started production at an oil field off the northern coast of China that has 57 planned production wells. China National Offshore Oil Corp. Continue Reading
Peak oil in the South China Sea
China’s crude oil production has apparently peaked and is back to where it was at the beginning of 2010. Fig 1: China’s crude oil production http://www.jodidb.org/ Vietnam has become a Continue Reading
Anadarko sells off Eagle Ford shale assets
Parts of the shale basin in oil-rich Texas will be left behind in order to focus more on deepwater and other assets, Anadarko Petroleum announced. The company said it agreed Continue Reading
Canada Needs to Phase Out Oil Sands, Prime Minister Says
Canadian Prime Minister Justin Trudeau sparked anger in the oil-rich province of Alberta on Friday for saying Canada needs to phase out the oil sands. Mr. Trudeau told a town-hall Continue Reading
U.S. Oil Rig Count Falls By Seven, Baker Hughes Says
The number of rigs drilling for oil in the U.S. fell by seven in the past week to 522, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
Expert Commentary: Flood Of Imported Crude Caps Oil Prices
– In recent notes we’ve cited output gains in Libya, stubbornly high Cushing inventories and OPEC skepticism as the key bearish culprits keeping a lid on an otherwise tightening crude Continue Reading