As Oil Prices Rise, Are Oil Bulls Too Optimistic?
Optimism, at first tentative and in the last week more pronounced, has been taking over oil markets. Short positions on WTI were at a three-month low as of Monday, according Continue Reading
Big Oil Seen Vulnerable to Fresh Slump Despite Growth at $50
Europe’s oil industry is once again generating cash even as crude languishes at half the price of three years ago. Yet companies remain vulnerable to a renewed downturn. The region’s Continue Reading
Oil dips on high OPEC supplies, defying falling U.S. crude stocks
Oil dipped on Thursday as a rally that has pushed up prices by almost 10 percent since early last week lost momentum despite renewed signs of a gradually tightening U.S. Continue Reading
Goldman: $50 Oil More Profitable Than $100 Oil
Big international oil companies are currently generating more cash at around-US$50 oil price than they did when the price of oil exceeded US$100 in early 2014, Goldman Sachs reckons. “Simplification, Continue Reading
Oil Rises After Inventory Data
Oil prices rose Wednesday after U.S. data showed that crude inventories continued to shrink and gasoline demand climbed to a record last week. U.S. crude futures settled up 43 cents, Continue Reading
Qatar Passes Landmark Law to Grant Permanent Residency to Expats
Qatar, facing a Saudi-led boycott, approved a landmark law with the potential to ultimately transform Gulf societies by granting permanent residency cards — and new rights — to some of the foreigners Continue Reading
Iran making pipeline strides
Iran is becoming less dependent on its neighbors for natural gas with the launch of a pipeline to the northern provinces, the government said. Iranian Energy Minister Bijan Zangeneh was Continue Reading
Did The Arab Spring Disarm OPEC?
OPEC is struggling with a floundering oil market, few prospects of higher oil prices, competition from U.S. shale, and dissension within its own ranks. The supply/demand situation is improving, but Continue Reading
Special Rules Won’t Fly For Aramco IPO
The UK Institute of Directors has criticized the Financial Conduct Authority’s proposal to amend listing rules that would accommodate Saudi Arabia’s oil giant Aramco, which is planning to list 5 Continue Reading
Nigeria’s NNPC in funding deals with foreign partners to develop oil fields
Nigerian National Petroleum Corp said Thursday it had agreed new funding arrangements with four foreign partners to develop new oil fields in the Niger Delta that will substantially increase Nigerian Continue Reading