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Month: December 2019

Category:
  • Prices

Crude oil futures steady ahead of expected build in US product data

Crude oil futures were steady to slightly lower in mid-morning trade in Asia Tuesday amid expectations of a build in US product stocks data due for release in coming days.  Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Prices

Refined products futures sink on expectations of US stock build

US gasoline stocks likely added 3.7 million barrels last week  Gasoline demand slows but stronger cracks incentivize production Brent climbs as Middle East tensions rise Refined product futures settled lower Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Prices

Oil hits three-month high on upbeat data, Middle East tension

Oil prices rose on Monday to three-month highs, lifted by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Middle Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Prices

Will Oil Bulls Rule 2020?

Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. With the New Year already knocking at the door, long-suffering energy investors are looking to put another Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Prices

How Accurate Were This Year’s Oil Price Predictions?

At the beginning of each year, I make several predictions about the energy sector for the upcoming year. You can see those predictions and read the context at Energy Sector Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Saudi Arabia

Why The Saudis Suddenly Agreed To This Mega Oil Deal

Strange, is it not, that an agreement has suddenly been reached between Saudi Arabia and neighbouring Kuwait on the oil and gas fields that they share in the ‘Neutral Zone’ Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq
  • USA

Iraq condemns U.S. air strikes as unacceptable and dangerous

Iraqi Prime Minister Adel Abdul Mahdi on Monday condemned U.S. airstrikes on bases of Iranian-backed Iraqi militia, a move that could plunge Iraq further into the heart of a proxy Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Egypt
  • Exxon

ExxonMobil expands upstream footprint in Egypt with two offshore blocks

Oil company ExxonMobil has expanded its upstream acreage in Egypt after it acquired two offshore blocks, boosting its footprint in the gas-rich Eastern Mediterranean basin. Receive daily email alerts, subscriber Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq
  • USA

Protesters outside U.S. Baghdad embassy rage against air strikes

Thousands of protesters and militia fighters gathered on Tuesday outside the main gate of the U.S. embassy compound in Baghdad to condemn air strikes on bases belonging to an Iranian-backed Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq
  • USA

U.S. Baghdad ambassador evacuated from embassy amid protests: Iraqi officials

The U.S. ambassador and other staff have been evacuated from the embassy in the Iraqi capital Baghdad as protests rage outside, two Iraqi Foreign Ministry officials told Reuters on Tuesday. Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq
  • USA

American Airstrikes Rally Iraqis Against U.S.

Associated Press Iraq has been caught for years in a tug of war between its two most powerful patrons, the United States and Iran. In recent months, public opinion began Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Iran

Iran Looks To Boost Offshore Oil Production By 85,000 Bpd

The Iranian Offshore Oil Company (IOOC) is currently implementing US$2.6 billion worth of projects expected to boost Iran’s offshore oil production by 85,000 barrels per day (bpd), Iranian media reported Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq

Political vacuum could upend key Oil Ministry plans

A project to double the Nassiriya field’s production capacity is tied to a federal budget likely strangled by political fighting. Flares burn at the Nassiriya oil field on May 7, Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • China
  • USA

White House adviser says China trade deal signing expected soon

 The White House’s trade adviser on Monday said the U.S.-China Phase 1 trade deal would likely be signed in the next week, but said confirmation would come from President Donald Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • China

Beijing likely to allow independent refiners to export oil products in 2020

China’s Ministry of Commerce is expected to award the independent refining sector with oil products export quotas next year as Beijing steps up efforts to support private companies to play Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Australia
  • Prices

Thousands trapped on Australian beaches by dangerous bushfires

Thousands swarmed to beaches on Australia’s east coast on Tuesday to escape fierce wildfires bearing down on several seaside towns, as the government readied naval vessels and military helicopters to Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Climate
  • International Oil Companies

What’s Behind Big Oil’s Promises of Emissions Cuts? Lots of Wiggle Room.

The oil and gas industry seems to have entered a state of cognitive dissonance. Like never before, energy companies are publicly acknowledging the threat posed by climate change and the Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Shale Oil

Bigger oil looks set to have its day in US shale

The shale energy revolution was not a feat of Big Oil. Independent exploration and production companies run by little-known executives fracked their way to a stunning rise in US oil Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Coal
  • USA

Why Is Warren Buffett Ditching His Coal Plants?

Warren Buffett, probably the world’s most successful investor, a man noted for the conservatism of his investment policy and aversion to high tech, wants out of coal? Buffett’s Berkshire Hathaway Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • exports
  • USA

US Returns to Being a Net Oil Exporter

Two factors could directly affect the future level of US crude exports. Thanks to the shale oil revolution, for the first time since the 1940s, the United States exported more Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Population
  • USA

U.S. Population Makes Fewest Gains in Decades, Census Bureau Says

Cavan Images, via Alamy Population growth in the United States crept along at its slowest pace in decades in 2019, stymied by a sharp decline in the number of new Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Shale Oil

Is The Shale Boom Running On Fumes?

Shale drilling does not produce as much oil and gas as the industry promised, raising questions about the productivity, profitability and, ultimately, the longevity of the fracking boom. The Wall Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • Shale Gas
  • Shell

Shell Makes Haynesville Shale Deal

Castleton Resources has acquired the East Texas and North Louisiana Haynesville shale assets of Shell’s subsidiary, BG US Production Company. Castleton Commodities International LLC’s subsidiary, Castleton Resources LLC (CR), has Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • Russia

Russia Goes For Global Gas Dominance

Despite the newly announced U.S. sanctions against the Nord Stream 2 project, Russia says it will build and launch next year the natural gas pipeline that has divided Europe for Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Germany
  • Nuclear

Germany Aims To Close All Nuclear Plants By 2022

Germany is going forward with its plan to phase out nuclear reactors by 2022 as another nuclear power plant is going offline on December 31. Power company EnBW has said Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • United Kingdom

Bank of England boss reiterates warnings over ‘worthless’ fossil fuels

Bank of England governor Mark Carney has reiterated his warnings over the risks of financial exposure to fossil fuels, saying pension funds were particularly vulnerable as oil, coal and gas Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Norway

Norway refuses to drill for billions of barrels of oil in Arctic, leaving ‘whole industry surprised and disappointed’

The largest party in Norway ’s parliament has delivered a significant blow to the country’s huge oil industry after withdrawing support for explorative drilling off the Lofoten islands in the Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Climate
  • Russia

Amid Balmy Winter, Moscow Trucked in Heaps of Fake Snow. A Blizzard Ensued.

 The authorities in Moscow had spent millions on Christmas trees, sparkling lights and other holiday decorations, but the festive mood was still missing something: Winter weather. As the warmest December Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Electric Cars
  • Germany

Electric Cars Threaten the Heart of Germany’s Economy

 Öhringen lies deep in the automaking country, the homeland of Germany’s biggest industry and a source of national pride. And by most appearances, life is pretty good. The unemployment rate Continue Reading

Posted On : 31 Dec 2019 Published By : Tom Whipple
Category:
  • Prices

Oil steady on upbeat data, Middle East unrest

 Oil prices held on to three-month highs on Monday, underpinned by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Prices

Oil price rise muted in 2019 despite sanctions, supply cuts, attack in Saudi Arabia

 Oil prices rose more than 20% this year but there were no sharp spikes and crude futures barely sniffed $70 a barrel despite attacks on the world’s biggest oil producer, Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Oil Supply

World’s power demand requires fossil fuel energy

Approximately 40% of the world’s electricity is produced by burning coal. Coal is the world’s reliable energy foundation, and it’s expected to remain the leading fuel for power generation well Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq

Nassiriya oil field shut in as protests block staff access

The Dhi Qar Oil Company (DQOC) on Saturday shut down the Nassiriya oil field as job-seekers crowded around the state-run company’s headquarters and its flagship asset — the latest instance Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq

Top Iraqi militia leader warns of strong response to U.S. air strikes

A top Iraqi militia leader warned of a strong response against U.S. forces in Iraq following air strikes in Iraq and Syria overnight that hit several bases of his Iranian-backed Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq

U.S. Strikes Shiite Militia Targets in Iraq and Syria

The U.S. carried out airstrikes against an Iranian-backed Shiite militia group in Iraq and Syria, in the Trump administration’s most forceful response to Tehran’s assertive posture in the region. The Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq
  • USA

U.S. Launches Airstrikes on Iranian-Backed Forces in Iraq and Syria

The United States military on Sunday struck five targets in Iraq and Syria controlled by an Iranian-backed paramilitary group, the Pentagon said, a reprisal for a rocket attack on Friday Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Middle East

The One Region Oil Markets Can’t Ignore In 2020

The year that is drawing to its close has been turbulent for the Middle East. While oil prices stubbornly refused to respond to efforts to push them higher, remaining locked Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Saudi Arabia

Interview: Saudi Arabia’s breakeven oil price to dip amid lower spending, says IMF

Saudi Arabia’s breakeven oil price in 2020 is expected to be lower than $83.6/b to balance its budget, as the world’s biggest oil exporter signals an end to the expansionary Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Iraq

Iraq resumes southern field production after protesters halt work: ministry

Highlights No impact on output, exports due to Nasiriyah shutdown OPEC’s second largest oil producer is flouting its quota Dubai — Iraq resumed on Monday production from the Nasiriyah southern Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • LNG
  • Nigeria

Nigeria LNG moves ahead with $10B expansion; 30 Mtpa

The partners in Nigeria LNG (NLNG)—Nigeria National Petroleum Corporation (NNPC) (49%), Shell (25.6%), Total (15%) and Eni (10.4%)— have taken the final investment decision (FID) for the expansion project of Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • China

China’s December factory activity set to expand for a second month: Reuters poll

China’s factory activity likely expanded again in December on stronger external demand and an infrastructure push at home, but the pace of growth is set to ease as markets await Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Electric Cars

Tesla delivers first China-made Model 3 sedans in just under a year

Tesla has started delivering Model 3 electric cars built at its Shanghai factory in just under a year since it began work on the $2 billion plant, a record for Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Australia
  • Climate

Australia fires: Fires worsen as every Australian state hits 40C

The remains of a car that was destroyed by bushfires in Balmoral, New South Wales Scores of fires are burning out of control across Australia amid a heatwave that has Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Shale Oil

The Next Oil Boom Is Happening Here

Just as the U.S. shale industry is slowing down, oil production in other non-OPEC countries is on the rise. Output in U.S. shale grew substantially in 2019, although at a Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Electric Cars

Why 2020 Is the Turning Point for Electric Cars

IN AN INDUSTRY caught flat-footed by the rise of Tesla and China’s skyrocketing vehicle-emissions mandates of the past decade, 2020 came to be seen as the horizon of reasonable expectations, Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Shale Oil

As Shale Wells Age, Gap Between Forecasts and Performance Grows

The early promises of blockbuster shale wells that many fracking companies made to investors are looking even more suspect as the wells age. For years, frackers touted estimates of how Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Shale Oil

Big Banks Turn Bearish On Oil Next Year

As the year draws to a close, the Brent and WTI oil benchmarks are trading at $66.55 and $61.54, respectively. From $60.65 to $64.50, investment bank and analyst projections for Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Arctic

Should Arctic Oil Be Kept Underground?

Unless the remaining days of December surprise us with a world-beating hydrocarbon discovery, 2019 will go down as one of the weakest years on record in terms of new oil Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • Climate
  • USA

Listen: Should the US government spend much, much more on carbon capture?

Done About Vidyard Carbon-capture projects are economically unviable at the moment and will need a major increase in government spending for wide-scale deployment, says John Minge, former chairman and president Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple
Category:
  • France

Oil product shortages mount as strikes continue at French refineries

Shortages of oil products have started mounting as staff at a number of French refineries continue strike action, resulting in increased imports of diesel and gasoil, sources said Friday. “There Continue Reading

Posted On : 30 Dec 2019 Published By : Tom Whipple

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