Are Investors Bailing On U.S. Shale?
U.S. oil production continues to grow, with the EIA reporting a shocking jump in output last week. Total U.S. production rose to 9.5 million barrels per day (mb/d) for the Continue Reading
Alaska’s Conflicted Oil Future
Alaska, the final frontier, may be the next oil industry goldmine thanks to aggressive drilling, changing environmental policies, and a bullish administration. Not all Alaskans, however, are on board with Continue Reading
Gazprom’s gas exports inch higher
Russia natural gas company Gazprom said it’s scaling up its deliveries to consumers that would be fed eventually by a pipeline through Turkey. The company said its natural gas shipments Continue Reading
Russia Claims To Have Invented Alternative To Fracking
Russian scientists and local oil field services companies claim to have created a technology for thermochemical gas fracturing that could be an alternative to hydraulic fracturing and could increase oil Continue Reading
UK Oil Production, Reserves and Future Projection
Production History and Reserves UK oil production peaked in 1999. The peak was probably pushed out a couple of years because of the major production interruptions following the Piper Alpha Continue Reading
Why Would Oil Demand Peak, Contrary to Peak Oil Supply?
People find it hard to believe that there is another side of the ‘Peak Oil Supply’ theory, which is ‘Peak Oil Demand’. The oil industry is quite familiar with the Continue Reading
Oil Falls as Production Increase Outweighs Stockpile Decline
Oil prices fell to a three week low Wednesday as data showing an increase in U.S. oil production outweighed the largest weekly decline in oil stockpiles this year. U.S. crude Continue Reading
Goodbye contango? Oil’s long march toward backwardation: Kemp
“The rebalancing of the oil market desired by the leading producers has been a stubborn process,” the International Energy Agency wrote in its latest monthly oil market report. The agency’s Continue Reading
The Single Biggest Bullish Catalyst For Oil
One of the key objectives for OPEC is to bring down inventories, a goal that has been elusive this year. But if the oil futures curve is anything to go Continue Reading
Will Oil Demand Growth Be Enough To Tackle Inventories?
The first is a report on bets taken by the highly successful hedge fund manager Pierre Andurand on the direction for prices. Andurand is predicting prices will rise above $100 Continue Reading
Analysts See OPEC Compliance Erode In H2 2017
OPEC’s compliance with the output cuts will continue to slip in the second half this year, despite recent rhetoric reiterating the cartel members’ commitment to stick to the production quotas, Continue Reading
Turkey Expands Influence In Kurdish Energy Sector
Over the past 12 years, Turkish energy companies have moved into the Kurdish energy sector at great pace in line with the sector’s rapid expansion under the semi-independent government in Continue Reading
Libya Boosts Oil Output At Biggest Field
Crude oil output at Sharara–the biggest field in Libya, which is exempt from OPEC cuts–rose to 230,000 bpd on Tuesday—a 30,000 bpd increase just since Sunday, Bloomberg reports , citing Continue Reading
Saudi Arabia crude oil exports fall slightly in June: JODI
Saudi Arabia’s crude oil exports in June fell slightly to 6.889 million barrels per day (bpd), 35,000 bpd lower than the May level, official data showed. OPEC’s biggest producer also Continue Reading
With a wary eye on Iran, Saudi and Iraqi leaders draw closer
It was an unusual meeting: An Iraqi Shi’ite Muslim cleric openly hostile to the United States sat in a palace sipping juice at the invitation of the Crown Prince of Continue Reading
Venezuela mulls ‘law against intolerance,’ aimed at dissenters
Venezuelans who express “hate or intolerance” will be jailed for up to 25 years under a bill pending in the country’s newly-formed constituent assembly, a measure the opposition fears will Continue Reading
Booming thermal coal price on China demand cheers miners
Australian thermal coal prices for spot cargoes above $100 a tonne, lifted by reports of strikes and strong Chinese demand, are providing a boost in earnings and share prices for Continue Reading
Prominent China debt bear warns of $6.8tn in hidden losses
One of the most influential analysts of China’s financial system believes that bad debt is $6.8tn above official figures and warns that the government’s ability to enforce stability has allowed Continue Reading
Oil producers signal offshore return in latest Gulf of Mexico auction
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return Continue Reading
U.S. crude stockpiles fall the most in nearly a year: EIA
U.S. crude oil inventories fell for the seventh consecutive week in their largest drawdown in nearly a year while exports and production continued to rise, the Energy Information Administration said Continue Reading
Summary of Weekly Petroleum Data for the Week Ending August 11, 2017
U.S. crude oil refinery inputs averaged about 17.6 million barrels per day during the week ending August 11, 2017, 9,000 barrels per day less than the previous week’s average. Refineries Continue Reading
Known Gulf of Mexico deepwater areas most attractive in modest lease sale
US Gulf of Mexico Lease Sale 249 on Wednesday was not a barn-burner, but it did show a measure of competitive bidding in the deepwater and even boasted two eight-figure Continue Reading
Has Gulf Of Mexico Production Peaked?
Amid strong indicators that U.S. shale production will reach new heights by the end of 2017, efforts to promote further exploration and production in the Gulf of Mexico, long a Continue Reading
Russian company Lukoil reports slight dip in oil production
Russian energy company Lukoil said total oil production for the second quarter was slightly lower, in part because of a reduction from operations in Iraq. One of Russia’s largest energy Continue Reading
Russian scientist says leave coal in the ground
Nearly all of the world’s coal reserves and 30 percent of its oil should be left alone in order to keep climate change at bay, a Russian scientist said. Mikhail Continue Reading
Will EV’s Break The Grid?
While the UK government has vowed to end the sale of all new conventional gasoline and diesel cars by 2040, as part of a wider plan to fight air pollution, Continue Reading
Oil prices edge up on falling US crude stocks, but global glut still weighs
Oil prices edged up on Wednesday on a fall in U.S. crude inventories, although markets were still being weighed down by general oversupply. Brent crude futures LCOc1 were at $51.02 Continue Reading
Oil Prices Rise As API Reports Huge Crude Inventory Draw
The draw compares to analyst expectations of a draw of 3.6 million barrels for the week ending August 11. Gasoline inventories rose by 301,000 barrels for the week ending August Continue Reading
Offshore drilling mergers raise hopes for sector recovery
Transocean’s GSF Development Driller II crosses Istanbul’s Bosphorus on its way to the Black Sea September 6, 2014.Murad Sezer HOUSTON (Reuters) – Mergers among offshore oil drillers are raising hopes Continue Reading
Iran sees banking channels opening up
With foreign energy companies signing early deals with Iran, the country’s president said banking channels to the world could be opening up. Last month, a consortium of French energy company Continue Reading
IEA: OPEC Must Extend Cuts To Balance Oil Markets
It has long been the suspicion of many oil market analysts that the U.S. shale industry was likely too nimble for OPEC to really hammer it into oblivion. That proved Continue Reading
Libyan Oil Liberator Aims To Boost Russian Ties
In a sign that Libya’s powerful military is moving closer to Russia, Libyan National Army (LNA) commander Khalifa Haftar—the man responsible for recapturing the country’s oil ports and essentially restarting Continue Reading
Libya’s Sharara oilfield output dropped after security breaches: engineer
Production at Libya’s Sharara oilfield dropped to between 130,000 and 150,000 barrels per day (bpd), from about 280,000 bpd, because of recent security breaches, an engineer who works at the Continue Reading
Protesters drag Shell Niger Delta oil facility shutdown into fifth day
Protesters on Tuesday dragged the shutdown of a Shell crude oil facility in the Niger Delta into its fifth day, after storming the flow station demanding jobs and infrastructure development Continue Reading
Cuban trade with Venezuela plunges over two years
Cuban trade with socialist ally Venezuela has fallen 70 percent since 2014 due to the South American oil producer’s inability to meet delivery contracts and purchase goods as it struggles Continue Reading
Asia Takes The Lead In The Hyperloop Race
Elon Musk’s orphaned hyperloop project may soon be Asia’s next transportation superstar, but competitive prices from fossil fuel-heavy options could derail the new technology’s business model. CEO Dirk Ahlborn of Continue Reading
China’s energy demand to peak in 2040 as transportation demand grows: CNPC
China’s energy demand will peak by 2040, later than the previous forecast of 2035, as transportation fuel consumption continues to rise through the middle of this century, state-owned oil major Continue Reading
US To Sell 14 Million Barrels Of Crude Oil From Emergency Reserve
The U.S. Department of Energy said on Tuesday it will sell 14 million barrels of crude oil from the nation’s emergency reserve in late August. The sale from the Strategic Continue Reading
Pullback in U.S. fracking sand use pressures producers
U.S. shale oil companies are pulling back on the amount of sand they use to hydraulically fracture new wells, responding to rising prices of the material that are driving up Continue Reading
America’s Shale Natural Gas Production Is Taking Off – Sort Of
America’s shale gas production is about to surge 12 percent. Sort of. The Energy Department issued a report Monday estimating that the nation’s prolific shale formations will yield 59.4 billion Continue Reading
Energy Department Faces Pressure Over Power Study
U.S. Energy Secretary Rick Perry at a clean energy conference in Beijing in June. Energy Secretary Rick Perry faces stepped-up pressure from environmental groups over a power grid study that Continue Reading
Anadarko shale basin lands Oklahoma on EIA map
With more than 10 percent of the new wells drilled in U.S. shale basins, Oklahoma has earned a place in new monthly data reporting, the government said. The U.S. Energy Continue Reading
EPA erred in denying renewable fuel hardship exemption: courts
The U.S. Environmental Protection Agency used too strict of a test when it wrongfully denied Sinclair Oil’s request for an exemption from the country’s biofuel regulations, a U.S. appeals court Continue Reading
Peak Oil And Peak Demand Have Entirely Different Outcomes
Following my previous article — Peak Demand? No, A New Gasoline Demand Record — I received some interesting feedback from readers. It quickly became apparent that some didn’t understand that Continue Reading
World GDP in current US dollars seems to have peaked; this is a problem
Falling interest rates have huge power. My background is as an actuary, so I am very much aware of the great power of interest rates. But a lot of people Continue Reading
Oil prices steady after overnight tumble on dollar strength, China concerns
Oil prices steadied in early Asian trade on Tuesday after sharp falls the session before to the lowest in about three weeks as a stronger U.S. dollar and a drop Continue Reading
Oil Prices Inch Higher As Libya Closes Crude Export Terminal
The Zueitina oil terminal in Libya has ceased loading cargos as port workers protest, demanding better working conditions, Bloomberg quoted the head of the workers’ union Merhi Abridan as saying. Continue Reading
Oil Prices Slip As Chinese Crude Demand Loses Momentum
Slowly but surely, what we have claimed for the past year – that it is the demand side of the oil equation, not the supply, and especially the “Chinese wildcard” Continue Reading
Oil prices edge lower on OPEC output
Crude oil prices edged lower early Monday on signals of declining volatility and reports of a stronger position from OPEC-member Libya. Sandy Fielden, the director of research, commodities and energy Continue Reading
Oil Stuck in Loop Leaves Bored Hedge Funds Awaiting Clarity
WTI net-long position little changed, CFTC report shows Money managers raise bullish stance on gasoline, diesel Oil hasn’t been so tedious in a long time, and hedge funds just don’t Continue Reading