Iraqi Kurdistan On The Brink Of Collapse As Oil Prices Crash
Attentive Oilprice readers must have read at least a dozen articles describing how hard Iraq has been hit by the drop in oil prices. Iraq’s political travails are by no Continue Reading
Saudi Arabia warns of ‘extreme measures’ to combat COVID-19, oil price crash
Saudi Arabia’s finance minister has warned the kingdom needs to make “extreme” spending cuts to manage the economy during the COVID-19 crisis and oil price crash. “It is very important Continue Reading
Iraq’s Kurdish region pumped 468,400 b/d in 2019 at export price of $52.67/b
Iraq’s semi-autonomous Kurdish region pump an average of about 468,400 b/d in 2019, with 93% of its oils sales exported at an average price of $52.676/b, according to a Deloitte Continue Reading
Saudi Arabia Sabic Suspends All But Essential Spending
Saudi Basic Industries Corp. is suspending new capital expenditure after an oil-price slump and coronavirus-related lockdowns pushed the company into a 950 million-riyals loss ($253 million) in the first quarter. Sabic, as Continue Reading
Oil Price Crash Hits Latin American Drillers Hard
Rigs are vanishing at a rapid clip in the United States, but oil and gas drilling activity is also falling worldwide. The international rig count fell by 144 in April Continue Reading
Oil revenues crash, dragging Iraq deeper into crisis
Iraq’s April oil revenues collapsed to their lowest level in more than a decade, dragging the country deeper into a financial crisis that has paralyzed both the federal government and Continue Reading
Trump administration pushing to rip global supply chains from China: officials
The Trump administration is “turbocharging” an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, Continue Reading
South Korean refiners cut March transport fuels output 8% on year, lower crude throughput 4%
South Korean refiners reduced production of transportation fuels by 7.8% year on year in March, cutting crude throughput 4.3% over the same period, in response to demand destruction caused by Continue Reading
Australian Government establishes A$300M fund to support hydrogen projects
The Australian Government has established funding to support hydrogen-powered projects. The A$300 million (US$193 million) Advancing Hydrogen Fund will be administered by the Clean Energy Finance Corporation (CEFC). As an Continue Reading
Is November 2019 the New US Peak Oil Date?
Here I am again reporting on out of date US February oil production from the EIA April report after the world oil environment has been turned on its head. Fortunately Continue Reading