Texas power grid sees record-breaking demand during heatwave
The Texas power grid operator on Monday forecast demand would reach a record high over the next week as homes and businesses crank up their air conditioners to escape a Continue Reading
Shell greenlights Gulf of Mexico ‘Whale’ oilfield project
Royal Dutch Shell (RDSa.L) announced plans on Monday to develop a new oilfield in the Gulf of Mexico, its first major project to get the go-ahead since a Dutch court Continue Reading
US shale dealmaking wave is transforming the industry
A wave of dealmaking in America’s shale patch is intensifying, wiping out weak players and leaving the once-fractured sector in the hands of a new breed of “super independents”. More Continue Reading
U.S. Shale Is Scrambling To Reinvent Itself
Oil has dominated global economics and dictated the shape, terms, and function of the geopolitical map for nearly 200 years. While two centuries is the merest of blips on the Continue Reading
US crude draws likely resume amid stronger refinery runs, rising exports
Highlights Commercial crude stocks expected down 2.5 million barrels Refinery utilization likely up 0.8 point Gasoline, distillate stock draws likely extend US crude oil inventory draws likely resumed in the Continue Reading
Tesla’s Quarterly Profit Soars to Record $1.1 Billion
Tesla Inc.’s TSLA 2.21% generated a record quarterly profit as the car maker largely sidestepped the effects of a global chip shortage that has constricted production for many global auto makers. The Silicon Valley electric-car maker, Continue Reading
Volkswagen CEO: EVs Will Be Cheaper Than ICE Vehicles In “2 To 3 Years”
Ever since the forced adoption of EVs by governments worldwide, all eyes have been on when the electric vehicles would finally make economic sense to produce. According to Volkswagen, that Continue Reading
Oil Resumes Decline With Demand Outlook Clouded by Delta Spread
Oil headed for the first decline in five days as investors assessed the outlook for demand amid a resurgence in Covid-19. Futures in New York dropped toward $71 a barrel Continue Reading
Oil falls $1/bbl as coronavirus, floods threaten demand
Oil prices fell nearly $1 on Monday as concerns about fuel demand from the spread of COVID-19 variants, as well as floods in China, offset expectations of tight supplies through Continue Reading
Annual Reserve Revisions Part V: Oil Sands
Over this century the oil sands business has consolidated into three main players: CNRL, Suncor and Cenovus, all of which have shown considerable organic and total growth in reserves and Continue Reading