Second Wave of U.S. Shale Revolution Is Coming, Says IEA
The U.S. is on track to become a net petroleum exporter by 2021 and will soon after surpassing Russia and rival Saudi Arabia, currently the world’s largest oil exporter, the Continue Reading
CERAWeek: US EPA to release E15 rule this week: Wheeler
The US Environmental Protection Agency’s proposal for year-round sales of E15, or gasoline blended with 15% ethanol, will be released this week, Andrew Wheeler, the agency’s administrator, told reporters at Continue Reading
CERAWEEK: Growing role of oil majors in shale to blunt impact of price volatility: IEA
US shale oil growth has almost entirely been driven by smaller, independent producers, but major oil companies are accounting for a growing percentage of shale output, a trend the International Continue Reading
Shell on the Prowl for Permian Deals
Royal Dutch Shell Plc is on the hunt for deals to bulk up its position in the Permian Basin, where it lags rivals Exxon Mobil Corp. and Chevron Corp. “We Continue Reading
Uber, Lyft and oil frackers: Tech mirages, not real businesses
Ultimately, businesses must make money for their investors or those businesses are shut down. It’s true that some businesses “make” money by laundering it for people engaged in criminal enterprises. Continue Reading
Extreme storm in the central U.S. may generate blizzard, flooding and severe storms midweek
European model storm forecast for 8 p.m. Wednesday. (PivotalWeather.com) An unusually strong late-winter storm is predicted to explosively intensify in the western Plains on Tuesday into Wednesday, unleashing flooding rains, Continue Reading
U.S. Oil Production Is Headed For A Quick Decline
The most recent forecasts published by the US Energy Information Administration show US oil production increasing steadily. The February Short-Term Energy Outlook sees the output from US wells rising from Continue Reading
IEA: U.S. Shale To Seize Market Share In Next Decade
The U.S. shale industry has been responsible for a tidal wave of oil production in recent years, and shale will increasingly dominate the oil market over the next half-decade at Continue Reading
CERAWeek: Oil, gas likely to stay major fuels for years, but producers need to spend more: John Hess
More oil, gas investment is industry’s ‘biggest challenge’ Shale growth masks lack of long-cycle investment US Gulf leased acreage is down 70% in 10 years Houston — Despite increasing renewable Continue Reading
CERAWeek: Murkowski pushes for more oil, gas options offshore Alaska
US Senator Lisa Murkowski, an Alaska Republican, said it is unclear if there is commercial interest in drilling in US Arctic waters, but said regulators should keep the option open Continue Reading
IEA: US to drive global oil supply growth; no peak oil demand in sight
Global oil markets are going through a period of extraordinary change, according to the International Energy Agency’s annual oil market forecast, Oil 2019.The US will drive global oil supply growth Continue Reading
CERAWeek: Lukoil to release new natural gas strategy this autumn
Russia’s Lukoil is updating its natural gas strategy, which it plans to present this autumn, the company’s CEO Vagit Alekperov said Monday. Receive daily email alerts, subscriber notes & personalize Continue Reading
Fracking Could Help UK Eliminate Gas Imports By 2030s
If the UK were to roll out fracking at its shale gas reserves, it could nearly eliminate its net gas imports by the early 2030s, industry group United Kingdom Onshore Continue Reading
Russia’s Next Oil Boom Is Happening In The Arctic
One of the major challenges of the 21 st century is without doubt climate change. For most countries, global warming poses a serious threat. Russia, however, has identified opportunities when Continue Reading
CERAWeek: Equinor sees need for greater cooperation in oil, gas industry to fight climate change: Saetre
Norway’s state-led energy company Equinor sees the need for significant cooperation from the oil and gas industry to fight climate change, and lead the transition away from fossil fuels, the Continue Reading
Oil gains as Saudi stands by OPEC supply cuts, U.S. rig activity drops
Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a Continue Reading
Why Oil Markets Can’t Find A Solid Footing
There is a myriad of factors influencing current global oil prices. On the supply side there is what can be called a back and forth tension between the OPEC+ oil Continue Reading
Oil Market About To Enter Supply Deficit
In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each Continue Reading
Oil Looks Set For A Significant Drop As Bad Data Piles Up
The last 72 hours have not been good for the prospects for the global economy, and therefore for the price of oil. On Thursday, the European Central Bank (ECB) surprised Continue Reading
Exclusive: Saudi’s Falih – U.S., China driving oil demand; no April OPEC policy change
Saudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be too early to Continue Reading
Iran oil ministry denies mismanagement allegations from Ahmadinejad
Iran’s oil ministry said on Sunday that it had been receiving revenues from selling oil despite difficulties caused by U.S. sanctions, denying allegations made by former President Mahmoud Ahmadinejad over Continue Reading
Kuwait oil minister: Oil prices are good for producers, consumers – Al Rai
Kuwait’s Oil Minister Khalid al-Fadhil said current oil prices are good for producers and consumers, Kuwaiti newspaper Al-Rai reported on Sunday. Al Rai cited al-Fadhil saying “current oil prices are Continue Reading
Saudi Arabia to cut crude oil exports in April: Saudi official
Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi Continue Reading
Saudi Aramco’s board to meet to approve SABIC bond plan: sources
Saudi Aramco’s board is set to meet this week in Saudi Arabia where it will approve a bond issuance plan that will likely help finance a potential acquisition of a Continue Reading
Nigeria: Oil Exports Restart On 150,000 Bpd Nembe Creek Oil Export Pipeline After Repairs
Normal crude oil export operations were restored, March 7, on the 150,000 barrels per day Nembe Creek Trunk Line (NCTL) following the plugging of a leak which resulted in the Continue Reading
Refining Frenzy Worsens Fuel Glut In Asia
Asia is drowning in Chinese fuels and things are about to get worse over the next three years as new refining capacity in the world’s second-largest economy begins operating. There Continue Reading
Piracy Threat For Oil Industry In Indian Ocean Shrinks Former High-Risk Area
The Oil Companies International Marine Forum (OCIMF) and international shipping associations have reduced the so-called High Risk Area for piracy attacks on ships and tankers in the Indian Ocean, but Continue Reading
Venezuela is truly on the verge of collapse
Venezuela watchers have been talking about the “collapse” of the country for a long time. They were mainly using the word metaphorically, applying it to statistical oddities such as fast Continue Reading
No End in Sight to Venezuela’s Blackout, Experts Warn
Sporadic looting and spontaneous protests. Desperate patients begging doctors to be kept alive. Residents bracing for wider attacks on markets and restaurants after the sun goes down. Sunday was the Continue Reading
Massive Power Outages Turn Deadly in Venezuela
At least 15 people have died as a result of a massive electricity outage that has crippled Venezuela, as doctors struggled to assist patients, telecommunications networks were wiped out and Continue Reading
U.S. presses India to stop buying oil from Venezuela’s Maduro: envoy
The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more Continue Reading
Footage Contradicts U.S. Claim That Maduro Burned Aid Convoy
The narrative seemed to fit Venezuela’s authoritarian rule: Security forces, on the order of President Nicolás Maduro, had torched a convoy of humanitarian aid as millions in his country were Continue Reading
China expands switch from polluting coal heating in 2018 -environment minister
China expanded its coal-to-gas and coal-to-electricity projects to 35 cities in 2018 from 12 cities the previous year, China’s environment minister, Li Ganjie, said on Monday, as the world’s second-largest Continue Reading
Oil majors strut into Houston for annual energy conference
The oil industry converges this week on Houston at CERAWeek, the largest gathering of top energy executives in the Americas, with oil majors showing a bigger presence as the United Continue Reading
Energy Leaders Convene in Texas as U.S. Oil and Gas Output Surges
America’s growth as an oil and gas superpower, and the uncertainties companies face due to disruptive technologies and regulations, are set to be buzzy topics in Houston starting Monday as Continue Reading
Occidental emerges as heavy hitter in U.S. oil export boom
Occidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market now worth more than $150 Continue Reading
CERAWeek: With sanctions, Iran, Venezuelan oil output to fall by 1.76 mil b/d in 2019, EIA forecasts
Crude oil production capacity in Iran and Venezuela will fall by a combined 1.76 million b/d if US sanctions on these countries remain in place, the International Energy Agency said Continue Reading
CERAWeek: IEA forecasts surging Permian output to lead US over Russia in oil exports
Fueled by rapid growth in the Permian, US oil production will climb by more than 2.76 million b/d to 13.72 million b/d by 2024 as the US is forecast to Continue Reading
CERAWeek: Spotlight on sanctions, OPEC oil cuts, record US output, and investment in Houston
The global oil market will be watching Houston this week for signals out of the CERAWeek by IHS Markit conference on the path forward on US sanctions on PDVSA, the Continue Reading
Permian Refinery to Apply Lessons from Bakken Project
Meridian Energy Group, Inc., which is building a greenfield refinery in North Dakota to process Bakken crude, reported recently that it will build a similar facility in the Permian Basin. Continue Reading
Sabine Pass Project Hits Milestone
Cheniere Partners says the newest SPL train was completed ahead of schedule and within budget. Train 5 of the Sabine Pass Liquefaction (SPL) Project in Cameron Parish, La., achieved the Continue Reading
French government working on ‘more ambitious’ energy and climate bill
A draft energy and climate law due to be presented to French cabinet ministers on Monday has been postponed so that it can be reworked with more ambitious environmental goals, Continue Reading
How a Russian Gas Pipeline Is Driving a Wedge Between the U.S. and Its Allies
The German-Russian pipeline project had been a bone of contention between Berlin and Washington, which fears it will make Europe’s largest economy excessively reliant on Russian energy. When the German Continue Reading
Is This A Precursor For Peak Oil Demand?
The $1 trillion sovereign wealth fund of Norway may sell off all of its shares in oil producers. The move is a shot across the bow for the oil industry. Continue Reading
Is Norway’s Oil & Gas Selloff A Mistake?
Another big step has been taken to end the hydrocarbon era, if the decision by Norway’s sovereign wealth fund to dump oil stocks and investments is a sign on the Continue Reading
Oil drops 1 percent as economic outlook weakens, U.S. supply surges
Oil prices fell about 1 percent on Friday after disappointing U.S. job growth revived concerns about a slowing global economy and weaker demand for oil. With surging U.S. oil supply Continue Reading
Oil Prices Sink On Negative Economic Data
Oil prices sold off on Friday on weak data from China, poor jobs figures in the U.S., and news that Norway’s sovereign wealth fund was divesting from the oil sector. Continue Reading
Oil Police interdict Kirkuk-area smuggling operation
Iraqi Oil Police fought a two-hour gun battle with smugglers tapping a remote well in the Jambur oil field this week, the latest incident in an uphill battle the Iraqi Continue Reading
Saudi Arabia’s Feb crude oil output 10.1 million b/d, March to go lower: official
Saudi Arabia produced 10.1 million b/d of crude oil in February, well below its quota under an OPEC/non-OPEC supply accord of 10.31 million b/d, an official in the kingdom told Continue Reading
Libyans fear showdown as eastern commander eyes capital
Forces from eastern Libya who have swept through the south and taken control of remaining oilfields in recent weeks have now reinforced a base in the center of the country Continue Reading