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Month: January 2019

Category:
  • Prices

Oil edges higher on Venezuela turmoil, but weighed by U.S. crude stock build

 Oil prices rose on Thursday, boosted by the U.S. threat of sanctions on OPEC member Venezuela, but gains were limited by U.S. data showing record-high gasoline record-highs and an unexpected Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

Oil prices in 2019? It’s all about the economy: Kemp

Oil prices this year will be influenced primarily by the health of the global economy, which is why prices have closely tracked equity and bond markets in recent months. U.S. Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Oil Supply

Oil Majors Near Inflection Point As Spending Rises

Oil prices are still down sharply from the highs of October 2018, but the industry may still increase spending this year. The cost of developing new projects might rise along Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

The Most Important Oil Factor In 2019

The oil market is heading towards rebalancing this year, most analysts seem to think , with OPEC+ production cuts, combined with a potential slowdown in U.S. shale eating away at Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • International Oil Companies

‘Under siege’, oil industry mulls raising returns and PR game

 When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • OPEC

OPEC focused on averting new oil glut before April meeting: Barkindo

OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Iraq

Court presses Baghdad, KRG for details of oil disputes

Iraq’s Federal Supreme Court is seeking more information from both sides in a landmark, seven-year-old case before ruling on legal challenges to the autonomous Kurdistan Regional Government’s (KRG) independent oil Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia’s Dangerous Geopolitical Game

Saudi Arabia is putting itself in a potentially dangerous geopolitical position as it seeks to continue its decades’ long relationship with Washington while at the same time forging new ties, Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela’s Military Backs Maduro

The strong support for Mr. Maduro is a significant blow to the opposition, which wants to use widespread street protests and international support to help break the military’s allegiance to Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela Turmoil Puts Billions of Dollars in Foreign Investment in Jeopardy

Venezuelan parliament speaker Juan Guaidó declared himself interim president at a rally in the capital Caracas on Wednesday, drawing support from several Latin American countries and the U.S. Mr. Maduro Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Falling oil revenues pile pressure on Venezuela’s Nicolás Maduro

A recent sharp contraction in oil production in Venezuela and projected further declines this year will increase already-severe pressure on the government of President Nicolás Maduro, according to investors, especially Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela’s Maduro says he will withdraw embassy, consulate staff from Washington and other U.S. cities

The United States and Venezuela were locked in a tense international standoff Thursday as the Trump administration kept embassy staff in the country despite an official order to eject them, Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Mexico

Can Mexico Stop Its Oil Production Decline?

Five years after former president Enrique Peña Nieto ended Pemex’s monopoly and opened Mexico’s oil industry to private foreign investment, the new administration is betting again on the state oil Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Mexico

Mexico completes purchase of 670 fuel trucks as shortages continue across several states

Mexico City — The Mexican government said Thursday it had closed the purchase of 670 distribution trucks as fuel shortages continue in several states amid its fight against fuel theft. Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Maduro illegitimacy declaration sparks confusion in US oil sector

Trump administration seeks to strip Maduro of oil revenues Questions surround commercial transactions with Venezuela Treasury guidance could follow sanctions Washington — The US designation of Juan Guaido as Venezuela’s Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Mexico

Offshore Mexico Appraisal Well Encouraging

The Zama appraisal program includes three penetrations. Talos Energy reported late Wednesday that the initial phase of appraisal drilling near its Zama-1 discovery in Block 7 offshore Mexico was concluded. Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela’s political turmoil sparks investor fears

Political chaos in Venezuela sparked by international support for the leadership of opposition politician Juan Guaidó has called into question more than $25bn worth of investments made by China and Russia, the Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • China
  • USA

U.S., China ‘miles and miles’ from trade deal: Ross

The United States and China are “miles and miles” from resolving trade issues but there is a fair chance the two countries will get a deal, U.S. Commerce Secretary Wilbur Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • USA

U.S. gasoline glut hits new record, crude stocks up: EIA

U.S. gasoline inventories jumped to a record high in the most recent week even as refiners cut back activity, the Energy Information Administration said on Thursday, while crude stocks rose Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. oil output to surpass Russia and Saudi Arabia combined by 2025: Rystad

The United States is on track to produce more crude oil and liquids than Russia and Saudi Arabia put together by 2025, consultancy Rystad Energy said on Thursday. U.S. liquids Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • exports
  • Shale Oil

Magellan eyes Freeport, Texas as spot for crude export terminal

Magellan Midstream Partners LP has begun talks with companies developing crude transportation assets in Freeport, Texas, as it considers building a U.S. crude export terminal there instead of its previously Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Autonomous Cars

Are Electric Cars Only for the Rich? Sacramento Is Challenging That Notion

In the backyard of California’s Capitol sits Franklin Boulevard, a largely industrial area where many residents earn a living keeping old vehicles on the road. The state, which has been Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Canada

Canadian Heavy Crude Producers Find New Ways To Ship Oil

When Alberta Premier Rachel Notley announced obligatory production cuts of 325,000 bpd in December in a bid to tackle a deep discount between Western Canadian Select and West Texas Intermediate, Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Canada

Canadian crude-by-rail exports edge to record 330,402 b/d in November

Canadian crude-by-rail exports edged higher to a record in November, topping the 300,000 b/d level for only the second time since the government has kept statistics on shipments. Exports by Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Shale Oil

Cracks Emerging in US Oil Machine

Cracks are emerging in the U.S. oil machine. Shale oil’s relentless production growth is easing, with growth next month set to be the weakest since May, according to the Energy Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Shale Oil

Shale Pioneer Hamm: Output Growth Could Fall By 50%

U.S. shale production growth could slow by as much as half this year, according to one industry titan. Continental Resources’ Harold Hamm said that shale growth could decline by as Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Electric Cars

Volkswagen to create battery production unit in push for e-cars mass production

 Volkswagen said it would create a unit to manufacture electric car batteries, as it prepares to mass produce electric cars and overhaul its components division which currently makes engines, gearboxes Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • China
  • Russia

Russia seals position as top crude oil supplier to China, holds off Saudi Arabia

Russia came in as China’s largest crude oil supplier in December, cementing the top spot for all of 2018 for the third year in a row ahead of rival Saudi Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Economy

Why do Societies Collapse? Diminishing Returns are a Key Factor

In 1988, Joseph Tainter published a fundamental study on the collapse of societies, proposing the existence of a common cause, diminishing returns, for the fact that all past empires and Continue Reading

Posted On : 25 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

Crude oil futures lower on API data, Venezuelan sanctions

Crude oil futures were lower during mid-morning trade in Asia Thursday amid bearish data released on US crude inventory by the American Petroleum Institute while sanctions on Venezuela’s oil sector Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

Oil prices dip on worries fuel demand to stall as global growth slows

Oil prices declined on Thursday on lingering concerns that slowing global economic growth may limit fuel demand and after a surprise build in U.S. crude inventories.  International Brent crude oil Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

Surprise Crude Inventory Build Sends Oil Lower

The American Petroleum Institute (API) reported a large surprise crude oil inventory build of 6.55 million barrels for the week ending Jan 18, compared to analyst expectations that we would Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

Oil slips as EU seeks to trade with Iran, U.S. gasoline prices fall

Oil prices slipped on Wednesday as the European Union seeks to circumvent U.S. trade sanctions against Iran, and on weaker U.S. gasoline prices.  Brent futures fell 36 cents, or 0.6 Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Prices

The 7 Factors Driving Oil Prices In 2019

Last year, oil prices rallied all the way up to a four year high before plunging more than $30. There were many factors at play during that volatile period, most Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Syria

Syria’s New ‘Militarized’ Oil Companies

Russia’s involvement in the Syrian civil war dramatically changed the balance of power. Before the intervention, government forces were quickly losing ground to numerous rebel groups. Moscow’s motives to send Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Qatar

Oil Majors Flock To Qatar’s LNG Expansion Project

The capacity expansion of the world’s largest liquefied natural gas (LNG) exporter, Qatar, has attracted a lot of interest, and oil and gas majors who are Qatar’s long-standing partners, as Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Iran

Iran Announces Oil Discovery In Untapped Region

Iran has struck oil in a hitherto untapped region, Oil Minister Bijan Zanganeh told local media as quoted by Reuters. “This is the first time we’ve reached oil in the Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Iraq

Supreme Court rules against INOC law

Iraq’s Federal Supreme Court ruled on Wednesday that several articles of a law to revive the Iraqi National Oil Company (INOC) were unconstitutional – effectively sending the government back to Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • OPEC
  • USA

OPEC to Trump: Production cuts also helping US oil companies

OPEC highlights engagement with US producers Barkindo says Trump scoldings just ‘miscommunication’ Hess Corporation CEO thanks OPEC for oil cuts London — The head of a US shale oil company Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia: We’ll Pump The World’s Very Last Barrel Of Oil

Saudi Arabia isn’t buying the peak oil demand narrative. OPEC’s largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Iran

South Korea receives no Iranian crude imports for fourth straight month in Dec

South Korea imported no Iranian crude for the fourth straight month in December due to the re-imposition of US sanctions on Tehran, while intakes from the US and Kazakhstan rose Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

U.S. weighs oil sanctions on Venezuela as it steps up pressure

The Trump administration ratcheted up pressure on Venezuelan President Nicolas Maduro on Wednesday, signaling potential new sanctions against the country’s vital oil sector as it recognized Venezuela’s opposition leader as Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Venezuela

Venezuelan political turmoil hits US oil refiners

The prospect of further falls in Venezuela’s oil output after the US and Canada embraced its opposition leader as interim president caused tremors in energy markets, underlining the Opec member’s Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • China
  • USA

China says to have in-depth talks with U.S. on economic, trade issues

China and the United States will have in-depth discussions on economic and trade issues during Chinese Vice Premier Liu He’s U.S. visit next week, the Chinese commerce ministry said on Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • China

China’s Slowdown Is a Drag for Fuel Refiners

This year could be different, after economic growth in 2018 slackened to its slowest pace since 1990 and annual auto sales fell for the first time since that same year. Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • China

China’s Dec gasoline, gasoil exports rise to multi-month highs

China’s gasoline and gasoil exports climbed to multi-month highs in December amid oil companies’ rush to use up product-export quotas by the year-end. Gasoline exports climbed to a seven-month high Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Electric Planes

Boeing’s flying car lifts off in race to revolutionize urban travel

Boeing Co said its flying car prototype hovered briefly in the air during an inaugural test flight on Wednesday, a small but significant step as the world’s largest planemaker bids Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • OPEC
  • Shale Oil

U.S. oil firms tell OPEC their growth will slow

U.S. oil producers sought on Wednesday to soothe OPEC’s worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Climate
  • USA

Trump Takes Aim At California Emissions Laws

President Trump’s efforts to change California’s longstanding, but stringent low carbon fuel standards could get even tougher. A three-judge panel of the 9th U.S. Circuit Court of Appeals on Friday Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple
Category:
  • Biofuels

ExxonMobil and Renewable Energy Group partner with Clariant to advance cellulosic biofuel research

ExxonMobil and Renewable Energy Group (REG) signed a joint research agreement with Clariant to evaluate the potential use of cellulosic sugars from sources such as agricultural waste and residues to Continue Reading

Posted On : 24 Jan 2019 Published By : Tom Whipple

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