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Month: February 2018

Category:
  • Prices

Crude Slumps as `Explosive’ Shale Growth Threatens Supply Cuts

U.S. supply rise seen as risk factor in market rebalance: IEA Dollar strength diminishing appeal of oil as value refuge Crude dropped the most in more than two weeks as Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Fall After API Reports Crude, Gasoline Build

The American Petroleum Institute (API) reported a build of 933,000 barrels of United States crude oil inventories for the week ending February 23, according to the API data. Analysts had Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices

Oil Demand Strong Into 2020

Oil demand will remain strong through at least 2020, pushing spot costs for crude above futures pricing. That’s the message from Francisco Blanch, Bank of America’s head of commodities and Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices

Fundamentals do not matter to new breed of oil speculator

Investors have built a billion-barrel bet on higher oil prices. But they are a different breed of bull than years past.  The “net long” position held by fund managers in Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices

How Oil Trade Is Getting An Efficiency Boost

In the world of growing oil demand, lower oil prices, and increased digitalization, oil traders and oil firms continue to push for efficiency gains—the favorite buzzword during the downturn. Energy Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia Won’t Substantially Raise Output if Agreement Isn’t Extended

Saudi Arabia will not substantially increase its oil output over the next 2-3 years if the OPEC production cut agreement is not extended, say analysts at BMI Research. Saudi Arabia Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Saudi Arabia

In Search Of Investors, Saudi Arabia’s Crown Prince Is Coming To America

Mohammed bin Salman bin Abdulaziz al Saud, the Crown Prince of Saudi Arabia, will be leaving his kingdom next month for a three-week charm tour. His agenda hasn’t yet been Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

OPEC to meet with U.S. shale firms in Houston on Monday: sources

LONDON/HOUSTON (Reuters) – OPEC will hold a dinner on Monday in Houston with U.S. shale firms, two industry sources said, the latest sign of the producer group widening talks about Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Iraq exported more than 100 million barrels of oil last month

Iraqi crude oil sold at a discount of more than $3 per barrel to Brent, the global benchmark, in January, the government reported. File photo by Ali Jasim/UPI Feb. 27 Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Saudi Monarch Replaces Military Brass, Launching Defense Revamp

Saudi Arabia’s monarch ordered a far-reaching shake-up of its armed forces to strengthen its military amid a drawn-out war in Yemen and efforts to contain Iran’s influence in the Middle Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • International Oil Companies

OPEC Looks To Dial Back Production Cuts

China became the second largest LNG importer in 2017, surpassing South Korea. – China’s LNG imports of 5 billion cubic feet per day (Bcf/d) was second only to Japan’s 11 Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • France
  • Iraq

France’s Total Could Bid To Build 150,000-Bpd Oil Refinery In Iraq

France’s oil and gas major Total is interested in bidding for the construction of a 150,000-bpd oil refinery in Nassiriya in Iraq, Reuters reported on Tuesday, citing two sources familiar Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Iraq

Iraq open to business, including with Rosneft, foreign minister says

Baghdad is open to business with any company interested in supporting the country, Iraqi Foreign Minister Ibrahim al-Jafari said in Moscow on Wednesday, answering a question about the activities of Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Iraq

Iraq preparing to tender water injection project if Exxon talks fail

Iraq’s Basra Oil Co is preparing to tender for a water injection project vital to increase its oil production capacity if talks with Exxon Mobil fail, the head of the Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Iraq

Iraq agrees tentative deal with Kurds to resume crude oil exports to Turkey

Iraq has agreed a deal with the semi-autonomous Kurdistan Regional Government to resume crude oil exports through its pipeline to Turkey, halted since last July, local media quoted Prime Minister Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Oil-Rich Nigeria Fuel Scarcity Weighs on Buhari’s Popularity

Shortages hit a year before general elections in 2019 Government’s fuel subsidies foster dearth of supplies A giant electronic advertising screen displays headline news about President Muhammadu Buhari in Lagos. Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Nigeria: Buoyed By Non-Oil Sector, GDP Sustains Growth At 1.92% in Q4 2017

Buoyed by the non-oil sector, the Nigerian economy grew in real terms by 1.92 per cent in the fourth quarter (Q4) of 2017 (year-on-year), maintaining its positive growth trajectory since Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Natural Gas To Become Primacy Source Of Energy In Latin America

On Thursday, February 1, Hon. Alfonso Blanco Bonilla, Executive Secretary of the Latin America Energy Organization (OLADE), presented the energy outlook for 2018 to the 2 nd Latin America Energy Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Russia
  • USA
  • Venezuela

Swiss trader seeks go-ahead to buy Venezuela-Russia oil loan

Commodity trader Mercuria has asked the US Treasury for permission to buy out a $1.5bn loan between Russia’s Rosneft and Venezuela’s state oil company, which had raised the prospect of Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • New Guinea

Quakes halt LNG production in Papua New Guinea

Production at a liquefied natural gas facility in Papua New Guinea was shut down safely after a major earthquake this week, an Australian company said. More than a dozen people Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • New Guinea

ExxonMobil says no indication of damage to Papua New Guinea gas pipeline

ExxonMobil Corp said on Wednesday there was no indication so far that a powerful earthquake in Papua New Guinea this week has damaged the 700 km (435 mile) pipeline that Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • China

China manufacturing gauge suffers sharpest fall in 6 years

China’s official gauge of manufacturing activity for February suffered its largest drop since 2011, an unexpectedly sharp slowdown that left it near the zero-growth level. The manufacturing purchasing managers’ index Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Australia
  • Japan
  • LNG

Something Unexpected Just Happened In LNG Markets

In the increasingly topsy-turvy world of liquefied natural gas (LNG) markets, the world’s largest LNG importer could soon be exporting the super-cooled fuel to the world’s second largest LNG exporter Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Oklahoma regulator issues new regional protocol to curb earthquakes

HOUSTON (Reuters) – Oklahoma’s oil and gas regulator on Tuesday released new requirements aimed at reducing the risk of earthquakes from hydraulic fracturing in shale regions in central and southern Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Canada
  • Pipelines

Alberta envisions more oil in its pipelines

By reducing the thickness of the type of oil found in Alberta, government officials said they expect volumes through a limited network of pipelines to improve. The provincial government of Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices
  • USA

Lower gas prices might not last

Average commuters in the United States saw relief at the pump continue through much of February, but lower retail gas prices might not last, analysis finds. Motor club AAA reports Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Shale Oil
  • USA

Texas oil production topped 1 billion barrels last year

Total crude oil production from Texas last year topped 1 billion barrels and daily production in December was 5 percent higher year-on-year, data show. Texas is the No. 1 oil Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices
  • USA

Truckers Propose a Gasoline Tax Increase to Pay for Infrastructure Plan

The country’s biggest trucking group thinks it has a way to convince Republicans to raise the gasoline tax: Don’t call it a tax. The American Trucking Associations, reviving an argument Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Autonomous Cars

Ford Targets Miami to Test Driverless Food Delivery

Ford Motor Co. F -2.57% , which is focusing its entry into the driverless-car business on around-town deliveries, has picked Florida’s Miami-Dade County as its first test-bed. The Miami experiment, Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Autonomous Cars

Driverless cars given green light to operate in California

Investors have built a billion-barrel bet on higher oil prices. But they are a different breed of bull than years past.  The “net long” position held by fund managers in Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Autonomous Cars

California Scraps Safety Driver Rules for Self-Driving Cars

California regulators have given the green light to truly driverless cars. The state’s Department of Motor Vehicles said Monday that it was eliminating a requirement for autonomous vehicles to have Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Shale Oil

SandRidge Lays Off 30% of Oklahoma City Staff

As the company restructures, SandRidge Energy has determined a need for staff reductions at its headquarters. SandRidge Energy Inc. is laying off 30 percent of its workforce (80 employees) at Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Peak Oil

Don’t Confuse Peak Oil And The Peak Oil Debate

In the past five years of writing about energy one of my favorite observations has been that people get into trouble because they “confuse Peak Oil and the Peak Oil Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Electric Cars

What if every car sold in the world was an electric vehicle?

Big Oil is finally contemplating the unthinkable, and until recently what was also unimaginable for them. What if every car solar across the globe was an electric vehicle? What would Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Offshore

Democrats warn against cut to offshore oil royalties

Top Democrats on the Senate and House natural resources committees urged the Interior Department on Tuesday to drop a proposed cut to offshore oil and gas royalties, warning such a Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Prices
  • USA

Trump’s Gas Tax Hike Could Make Californian Fuel Cheaper

No one likes to hear news about higher taxes. Californians got just that kind of news last year, when Governor Jerry Brown signed a 40-percent increase in the state gas Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Norway

More production from offshore Norway closer to reality

A quarter of a billion dollars in development contracts puts the Nova field in the Norwegian waters of the North Sea closer to production, Wintershall said. The Norwegian subsidiary of Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Heavy snow causes UK-wide disruption

Some rural communities could become cut off, forecasters say Heavy snowfall is hitting parts of the UK, causing road and rail disruption. Police say driving conditions are "treacherous" in places Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Germany

In Germany’s Car Capital, the Unthinkable: A Ban on Cars

The star of Daimler shines bright over Stuttgart. The giant illuminated emblem of its most famous car, the Mercedes, towers above the main train station, greeting visitors. It is visible Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • Germany

German court says diesel cars can be banned from cities

Germany’s top administrative court has ruled that the country’s cities have the right to ban diesel cars, in a move that could have far-reaching consequences for the owners of 12m Continue Reading

Posted On : 28 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Oil prices give up earlier gains as rising U.S. supply outweigh…

Oil edged lower on Tuesday ahead of weekly data that is forecast to show a rise in U.S. crude inventories, although investor faith in OPEC’s ability to curtail production helped Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Oil up on strong demand, Saudi comments

 Oil rose on Monday, hitting three-week highs, supported by strong U.S. demand and comments from Saudi Arabia that it would continue to curb production in line with OPEC-led efforts. Brent Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Oil Jumps to Three-Week High as Advancing Stocks Fan Optimism

Dow Jones Industrial Average touches highest since Feb. 1 Saudi oil chief points to 2019 demise of historic output caps Crude closed at a three-week high as booming stock markets Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • p-

Is $65 The Ceiling For WTI?

The oil price rally that began a year ago is at a crossroad. In February, WTI futures fell from a 3-year high of more than $66 to less than $60 Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • LNG

LNG market needs $200 billion investment to meet demand: Shell

More than $200 billion of investment in liquefied natural gas is needed to meet a boom in demand by 2030, Royal Dutch Shell, the world’s top LNG trader, said on Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • Oil Supply

Global Energy Demand Could Grow 124% by 2100: Even Fossil Fuels Won’t Cut It

Where will the world get its energy in 2100? A forecast this month showed the world might need 124 percent more energy in 2100, raising questions over where the capacity Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • Middle East

Geopolitical Risk Is On The Rise In Oil Markets

In the long-term, many oil analysts expect the world to become increasingly dependent on oil production from the Middle East, as U.S. shale fades in importance. However, geopolitical turmoil is Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • Iran
  • Iraq

Iraq-Iran Oil Swap Deal Delayed Due To Security Concerns

An Iraqi-Iranian oil swap deal under which Iraq would truck 60,000 bpd of Kirkuk oil to Iran in exchange for Iranian oil to southern Iraq cannot be currently fully implemented Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • Iraq
  • p-

Iraq says in talks with Chevron about Majnoun oilfield

Iraq is in talks with Chevron Corp about the Majnoun oilfield, an Iraqi oil ministry official said on Tuesday. The official, Abdul Mahdi al-Ameedi, head of the ministry’s licensing and contracts Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple
Category:
  • Iraq

Total interested in building 150,000 bpd Iraq oil refinery: sources

French oil major Total is interested in bidding to build the greenfield 150,000 barrels per day Nassirya oil refinery in Iraq, according to two sources familiar with the matter. The refinery Continue Reading

Posted On : 27 Feb 2018 Published By : Tom Whipple

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