Earth’s oceans are under severe strain from climate change, a major new United Nations report warns, threatening everything from the ability to harvest seafood to the well-being of hundreds of Continue Reading
While global leaders meet in New York to discuss solutions to climate change, the U.S. government has offered a sober assessment of the world’s ability to wean itself off fossil Continue Reading
After attacks on its oil infrastructure, Saudi Arabia is moving forward with the much-anticipated initial public offering of its state-owned oil company and considering a proposal to offer investors a Continue Reading
Iraq set an all-time record for oil output in August, producing nearly 5 million barrels per day (bpd) — a significant increase that demonstrates the country’s potential to provide a Continue Reading
Crude declined to the lowest since Saudi Arabia’s oil industry suffered devastating attacks as investors gauged the kingdom’s efforts to restore production. Futures in New York settled down 1.4% to the Continue Reading
The International Energy Agency is confident Saudi Arabia will do all it can to keep the oil market well supplied despite the recent attacks, but at the same time it Continue Reading
Meanwhile, Saudi Arabia has stopped short of directly accusing Iran of mounting the airstrikes, partly because Saudi officials are concerned that escalating military responses would debilitate the kingdom’s economy further, Continue Reading
Two days after Iran said that the detained UK-flagged oil tanker was “free to leave Iran,” officials in the Islamic Republic said on Wednesday that the detention order had been Continue Reading
Saudi Aramco has restored Saudi Arabia’s oil production capacity to 11.3 million bpd—the level before the attacks on oil facilities ten days ago, Reuters reported on Wednesday, citing three sources Continue Reading
Long lines of drivers at gas stations in Cuba and hours of wait for public transport are signs of the impact of sanctions imposed by the United States this year Continue Reading
Crippling fuel shortages have triggered large anti-government protests in Haiti, bringing cities to a standstill. Angry demonstrators are demanding President Jovenel Moise step down amid corruption allegations. A man protesting Continue Reading
Climate activists have raised concerns about the number of power plants planned for development in Asia, but the threat of climate change appears to be just one reason to think Continue Reading
Has U.S. shale oil production stalled? Well, it seems so. After experiencing significant growth in 2017 and 2018, U.S. shale production in the first five months of this year has Continue Reading
Many people are concerned that we have an oil problem. Or they are concerned about recession and the need to lower interest rates. As I see the situation, we have Continue Reading
The pressures are due to companies struggling to service debt and secure new funding, as investors question the shale business model. Many drillers financed production growth by becoming deeply indebted, Continue Reading
Has U.S. shale oil production stalled? Well, it seems so. After experiencing significant growth in 2017 and 2018, U.S. shale production in the first five months of this year has Continue Reading
After years of improvements in drilling techniques and impressive “efficiency gains,” there is now evidence that the U.S. shale industry is reaching the end of the road on well productivity. Continue Reading
The nation’s Strategic Petroleum Reserve, designed to ease supply shortages and price shocks, has been shrinking and President Donald Trump wants to cut its budget. That’s stoking concern in Congress and Continue Reading
U.S. consumer confidence fell by the most in nine months in September, far more than expected, as Americans’ economic outlooks darkened in the face of the U.S.-China trade war, according Continue Reading
US output to fall to 12.18 million b/d by 2050 Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC to lead oil output growth through 2050 Continue Reading
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by Continue Reading
Recent bankruptcies affecting shale companies does not indicate future doom for the industry, according to Rystad Energy. While news of bankruptcies among U.S. onshore exploration and production (E&P) companies seems Continue Reading
A wave of oil and gas wells abandoned by bankrupted drillers could cost the U.S. government hundreds of millions of dollars. A new report from the U.S. Government Accountability Office Continue Reading
Despite a wave of financial adversity that has tormented US onshore E&P companies lately, Rystad Energy does not view this as a harbinger of doom for the shale industry going Continue Reading
In the aftermath of the attacks on Saudi oil, the U.S. average retail gasoline price jumped by more than 10 cents per gallon between September 16 and September 23—the largest Continue Reading
The University of California system has announced its intention to completely divest from fossil fuels. Officials in charge of investments insist that their decision to move toward more “sustainable” and Continue Reading
