Drilling Productivity Report
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
Canadian Oil Producer Calls For Production Cap Amid Record Low Prices
One of the large Canadian oil producers, Cenovus Energy, is calling upon the government of Alberta to mandate temporary production cuts at all drillers in a bid to ease Canadian Continue Reading
U.S. Could Become Single Largest Oil, Gas Producer: IEA
The United States will be the biggest contributor to global oil production growth in the period to 2040, accounting for 75 percent of the total, the International Energy Agency said Continue Reading
New Tech Could Save Big Oil $7 Billion Per Year
Seven billion dollars—this is the sum that oil producers could save annually if they take advantage of all digital capabilities made available to them by a technology industry that’s been Continue Reading
Permian Pipes Are Coming, But The Workers Aren’t
‘It’s frankly today a bigger concern than oil prices, because oil prices are fine where they are. The availability of labor is not,’ says analyst. (Bloomberg) — Ryan Byrd worked Continue Reading
Canada’s Oil Patch Feels Double Pain with Cuts and Prices
Canada’s oil producers can’t catch a break. Even as local production cuts help alleviate pipeline bottlenecks, heavy crude plunged below $18 a barrel for the first time since 2016 — Continue Reading
U.S. Expected to Produce Half of Global Oil and Gas Growth by 2025
“The shale revolution continues to shake up oil and gas supply, enabling the U.S. to pull away from the rest of the field as the world’s largest oil and gas Continue Reading
California’s Wildfire and Climate Change Warnings Are Still Too Conservative, Scientist Says
As firefighters in California battle to contain the deadliest and most destructive wildfire in state history, a climate scientist says the reality on the ground is surpassing what a government Continue Reading
Denmark-based Orsted adds to its U.S. wind energy assets
Orsted, the largest energy company in Denmark, which aims to become a global leader in offshore wind energy, has closed two transactions within the past four months as part of Continue Reading
Russia Pulls Ahead In Middle East Nuclear Race
In most of the industrialized world, nuclear energy has lost its appeal due to, among other reasons, the disaster at Fukushima in 2011. Few countries have ordered new plants to Continue Reading
Nord Stream 2 Could Still Be Derailed By U.S. Sanctions
The potential for more tensions in relations between the U.S. and Russia continue to mount. Late last week, U.S. Energy Secretary Rick Perry said that Washington could still impose sanctions Continue Reading
Russia says no emergency action warranted to halt oil price decline
Russia’s energy minister said on Wednesday no emergency action was warranted to stem a decline in oil prices, as crude benchmarks fell again. Alexander Novak reporters on the sideline of Continue Reading
Germany’s Economy, Europe’s Powerhouse, Contracts for First Time in Years
That marks the first decline in Germany’s quarterly GDP since the first three months of 2015, when it fell by an annualized rate of 0.5%, and is well below the Continue Reading
European Parliament approves binding 2030 32% renewables target; 14% of fuel for transport from renewables; 1st gen biofuels phased out
The European Parliament approved binding 2030 target for renewables (32%) and an indicative target on energy efficiency (32.5%) that will play a crucial role in meeting the EU’s climate goals. Continue Reading
Drilling overwhelms agency protecting America’s lands
Wayne Smith was hardened to a certain level of chaos here, on land the American public owns. But even he was incredulous as he surveyed an area he leases for Continue Reading
Oil Prices Plunge Below $15 In Canada
Canadian oil prices briefly plunged as low as $15 per barrel last week, after a U.S. federal judge blocked the construction of the Keystone XL pipeline. Canada’s oil industry has Continue Reading
Crude oil futures lower after overnight fall, awaiting fresh cues
Crude oil futures were marginally lower during mid-morning trade in Asia Friday awaiting fresh price cues after an overnight slump of more than $1/b on oversupply concerns. At 10:55 am Continue Reading
Oil in bear market as supply rises, demand outlook weakens
Oil stabilized on Friday after spending most of the week sliding, but markets remained weak as rising supply and concerns of an economic slowdown pressured prices, with U.S. crude down Continue Reading
Crude prices down after Iran waivers, EIA report on higher U.S. output
Crude oil prices were lower Thursday morning as bearishness was fueled this week by U.S. waivers to allow some countries to continue to buy Iranian oil, as well as an Continue Reading
US oil enters bear market
US crude prices closed in a bear market on Thursday, extending a rout driven by easing concerns of tight global supplies. Oil prices have tumbled over the past month, with Continue Reading
Cramer: WTI Could Drop To $40s In ‘Ferocious’ Bear Market
WTI Crude prices could drop into the $40s, with the U.S. oil benchmark in a ‘ferocious’ bear market, analyst and CNBC host Jim Cramer said on Thursday. WTI Crude prices Continue Reading
Growing support for US effort to get Iranian oil exports to zero: Pompeo
Secretary of State Mike Pompeo said Thursday there is growing international support for the US campaign to push Iranian oil exports to zero. “We have an enormous coalition supporting our Continue Reading
Saudi Arabia think-tank studying possible effect of OPEC break up: WSJ
Saudi Arabia’s top government-funded think-tank is studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the Continue Reading
Iran’s economy to suffer but likely ride out U.S. sanctions storm
Iran is likely to ride out the storm from U.S. oil sanctions, suffering recession but no economic meltdown, thanks to rising crude prices and deepening divisions between the United States Continue Reading
Saudi Arabia, OPEC’s Anchor, Ponders a Future Without the Cartel
The research project doesn’t reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, according to people familiar Continue Reading
Chevron Stayed in Venezuela Long After Rivals Quit. It’s Having Second Thoughts
Chevron’s dilemma is both moral and commercial. It hopes to hang on and outlast President Nicolás Maduro, as it did with his late mentor Hugo Chávez and other rulers. The Continue Reading
Venezuela’s Glaring Gasoline Crisis
Iran has dominated the headlines over the last few weeks, but Venezuela’s oil sector continues to meltdown. Venezuela’s oil production fell to just 1.197 million barrels per day in September, Continue Reading
Drought Tests Australia’s Model Water Market
But the return of severe drought to an area of eastern Australia more than twice the size of Texas is testing the system. Gary Wight, 46 years old, thinks he Continue Reading
China’s Oil Imports Surge To Record High
China’s crude oil imports averaged 9.61 million barrels a day last month, customs data cited by Reuters has revealed, with the agency noting the amount is the highest on record. Continue Reading
New wind and solar generation costs fall below existing coal plants
The cost of new wind and solar power generation has fallen below the cost of running existing coal-fired plants in many parts of the US, threatening to wreck President Donald Continue Reading
The Achilles’ Heel Of Electric Vehicles
Cobalt’s essential role in lithium-ion batteries has and will continue to make it increasingly important for the global consumer economy. Cobalt serves as a key component in battery-based devices by Continue Reading
Scientists Say U.S. Nuclear Plant Closures Will Raise Emissions
As many nuclear power plants in the United States risk closure before their operating licenses expire, earlier shutdowns will not threaten the reliability of U.S. electricity, but could result in Continue Reading
Exxon’s $2B Canada Move Shows Confidence
Almost 2 years after Exxon Mobil removed billions of barrels of oil-sands crude from its reserves, its Imperial Oil unit is investing again. (Bloomberg) — Almost two years after Exxon Continue Reading
Oil rises as China reports record crude imports, but soaring U.S. output caps gains
Oil prices rose on Thursday after record Chinese crude imports eased concerns that a slowdown in the world’s No.2 economy could stoke an emerging fuel glut. However, oil markets were Continue Reading
Oil Prices Slip On Crude, Gasoline Inventory Build
After on Tuesday the API accelerated the price slide that began last week with an estimated crude oil inventory build of 7.83 million barrels , the EIA added fuel to Continue Reading
Oil slips after U.S. output hits record, crude stocks rise
Oil prices slipped on Wednesday, continuing a recent slide after surging U.S. crude output hit another record and domestic inventories rose more than expected. The U.S. Energy Information Administration (EIA) Continue Reading
Return to oil production cuts in 2019 cannot be ruled out: OPEC sources
A return to oil production cuts by OPEC and its allies next year cannot be ruled out, two OPEC sources said on Wednesday, to avert a possible supply glut that Continue Reading
Can We Expect A New Round Of Oil Production Cuts Next Year?
Saudi Arabia and Russia have started bilateral consultations on whether they should start cutting oil production again in 2019, Russian news agency TASS reported on Wednesday, citing an OPEC source Continue Reading
Saudi Arabia, Russia should cut ‘at least 1 mil b/d instantly’: OPEC delegate
Saudi Arabia and Russia, both of whom have boosted their crude output in recent months, were responsible for a $15/b drop in the price of oil and “should cut at Continue Reading
The Trojan Horse In Oil Markets
The U.S. sanctions on Iran are not biting yet, as global oil markets are well supplied. In the coming weeks, Iranian crude volumes should show a decline. At the same Continue Reading
U.S. Iran envoy aims to zero Iran oil exports without spike in price
A general view of an oil dock is seen from a ship at the port of Kalantari in the city of Chabahar, 300km (186 miles) east of the Strait of Continue Reading
Iran says extra Saudi, Russian oil helps Trump and hurts producers
Saudi Arabia and Russia need to cut oil output, a top Iranian official said on Wednesday, adding that extra supply from the two countries had caused a slide in prices Continue Reading
Factbox: The knowns and unknowns of U.S. Iran oil sanction waivers
The United States on Monday re-imposed sanctions against Iran’s oil exports to punish Tehran for its involvement in several Middle Eastern conflicts. Washington had been pushing governments to cut imports Continue Reading
Nuclear Energy Stages A Comeback In Japan
Nuclear energy in Japan may be making a significant comeback, it is just not going to be able to meet the government’s lofty production goals for 2030, according to a Continue Reading
Iran’s Ghost Tankers Are Slipping Through The Cracks
In anticipation of the U.S. sanctions against Iranian oil exports, which were reimposed by the Trump Administration on Monday (along with additional sanctions on everything from Iranian shipping to banking Continue Reading
Toxic smog returns to Delhi after Diwali
Residents awoke on Thursday to find the city blanketed in a toxic fog Air pollution in the Indian capital has risen to hazardous levels after firecrackers were set off to Continue Reading
IEA: Venezuela’s Oil Production Is In Free Fall
While analysts were busy calculating how much Iranian oil will come off the market with the U.S. sanctions and whether Saudi Arabia and Russia are offsetting losses, crude oil production Continue Reading
Fracking could generate $500 million per year in Colombia: study
The development of non-conventional oil deposits using fracking could generate $500 million per project per year in taxes, royalties, dividends for shareholders and salaries in Colombia, the country’s private oil Continue Reading
Chinese weather key to global LNG market evolution this winter: industry
Not volumes, but volatility key to watch in China: Eni High European LNG imports could be shoulder month effect Long-term contracts still valid in LNG industry: Cheniere Berlin — The Continue Reading
China exports to US grow despite Trump’s tariffs
Chinese exports to the US grew strongly last month while imports shrank, defying predictions that American tariffs would hit demand for Chinese goods and force Beijing to the negotiating table. Continue Reading