Summary There are greater threats to the outlook for oil than growing OPEC or U.S. shale oil production. Peak demand growth for oil will arrive faster than commonly considered. Renewable Continue Reading
FILE PHOTO: A general view of a crude oil importing port in Qingdao, Shandong province, November 9, 2008. Stringer/File Photo BEIJING (Reuters) – Russia was China’s biggest crude oil supplier Continue Reading
Summary Oil demand and supply are both in the process of balancing and peaking. Oil supply will fall before oil demand, creating a period of significantly higher priced oil. OPEC Continue Reading
FILE PHOTO: A crew boat passes through Horns Rev 2, a wind farm off the west coast of Denmark near Esbjerg September 15, 2009. REUTERS/Bob Strong/File Photo Wind farm operators Continue Reading
President to flag historic shift as U.S. becomes net exporter Renewables and nuclear power technology also set to gain Donald Trump will tout surging U.S. exports of oil and natural Continue Reading
In view of the current price movements and the oil market outlook, Russia’s central bank is keeping its oil price forecast for this year at US$50 per barrel, and still Continue Reading
Output at higher-taxed West Siberian fields is dropping Rosneft, Lukoil pursuing projects with higher-margin barrels Russia’s deal with OPEC has bolstered state coffers by putting a floor under crude prices, Continue Reading
Russia needs to work out new principles jointly with OPEC and non-OPEC nations to continue cooperation even after the current oil output cut deal expires, Russian Energy Minister Alexander Novak Continue Reading
Russian Energy Minister Alexander Novak on Monday backed extending oil output curbs by leading producers, saying it would help speed up a return to a healthier market. Novak did not Continue Reading
Russia is taking a conservative approach to the price of oil, pegging its scenario for growth at $40 per barrel for the nation’s benchmark Urals crude oil. “Taking into account Continue Reading
In the world’s deepest gold mine , workers will venture 2.5 miles (4 km) below the Earth’s surface to extract from a 30-inch (0.8m) wide vein of gold-rich ore. While Continue Reading
A recovery in U.S. oil output may deter OPEC and non-OPEC producers from extending production cuts beyond June and might lead to a new price war, Russia’s top oil major Continue Reading
U.S. energy giant ExxonMobil ( NYSE:XOM ) has reportedly gauged potential interest among BP’s major shareholders regarding a possible takeover, British newspaper Evening Standard reported on Friday, sending BP’s stock Continue Reading
An industry trade group sees confidence returning to the British North Sea, but lingering challenges remain for oil and natural gas. File photo by Maryam Rahmanian/UPI. March 7 (UPI) — Continue Reading
Hey everybody, Last Sunday I put together a quick presentation on the most recent oil & gas production data for the “supermajors” (Shell, Total, BP, Chevron, ExxonMobil): Introduction Today I Continue Reading
Canadian Prime Minister Justin Trudeau has defended his government’s decision to ban all drilling for oil and gas in the Arctic for the next five years—for starters—in response to a Continue Reading
China’s crude oil imports and oil product exports in January retreated from fresh highs in December, but were still higher from the same month last year, according to preliminary data Continue Reading
An overlooked report has revealed the United States is completely reliant on imports from foreign countries, most heavily China, for rare earth minerals critical to our national security. The report, Continue Reading
I read an article this morning where one analyst predicted that we are in a 10-15 year bear market for oil. The analyst stated that the market is oversupplied by Continue Reading
In the early days of 2017, it behooves oil and gas companies to reflect on the past, while making plans robust to an uncertain future outlook. There are several questions Continue Reading
Energy futurist Chris Nelder explores the common ground between the Occupy movement and the Tea Party: declining energy leading to declining economic surplus. Beneath the complex narratives of the Occupy Continue Reading
Germany’s lower house of parliament, the Bundesrat, voted in October to ban the sale of cars with internal combustion engines by 2030. It is a resolution with no binding implications, Continue Reading
The Crosson Ice Shelf (center) and Mount Murphy (foreground) in Antarctica. Ice shelves are sensitive… The ice that hangs off Antarctica’s western edge is melting at a faster clip than Continue Reading
Russian oil Russia’s state-controlled giant Rosneft will not freeze its production as part of potential non-OPEC and OPEC global efforts to prop up crude prices, Reuters quoted Rosneft’s chief executive Continue Reading
Running out of time Oil and gas producers have worked diligently to reduce the cost of their operations following the fall in crude oil prices at the end of 2014. Continue Reading
The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance. Just a few years ago, the U.S. Energy Industry and Mainstream media were Continue Reading
Russia’s ruling party has tightened its grip on the Duma after parliamentary elections on Sunday were marred by irregularities and the lowest turnout in president Vladimir Putin’s 17 years in Continue Reading
An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, Continue Reading
Gazprom said higher gas sales to Europe boosted its first-quarter revenue and it may export more to the region than expected this year because of lower Dutch gas output and Continue Reading
World C+C using EIA data, but substituting the Russian Ministry of Energy Data for Russia shown in the chart below. The monthly peak was 81, 047 kb/d in Nov 2015. Continue Reading
Offshore Oil Rig Searching for oil and gas is an activity with uncertain success—an activity with a bit less uncertainty were it not for 3D seismic surveying. And this uncertainty Continue Reading
The fossil fuel industry risks losing $33 trillion in revenue over the next 25 years as global warming may drive companies to leave oil, natural gas and coal in the Continue Reading
« Local Motors debuts first self-driving vehicle using IBM Watson Internet of Things for Automotive | Main Volkswagen Group CEO Matthias Müller presented the company’s new new strategic plan—TOGETHER – Continue Reading
Royal Dutch Shell Plc Chief Executive Officer Ben Van Beurden spelled out his main goal last week — surpass Exxon Mobil Corp. to become the best-performing oil major. “I am Continue Reading
Firefighters made progress against a wildfire in the Fort McMurray region of northern Alberta on Thursday as a shift in winds pushed it away from communities and oil sands facilities. Continue Reading
Global supply-side pressures could reverse within 20 years as low crude oil prices crimp spending on exploration and production, Wood Mackenzie finds. For the fifth week in a row, oil Continue Reading
In response to continued low oil prices, onshore crude oil production in the Lower 48 states is expected to decline from an average of 7.41 million barrels per day (b/d) Continue Reading
From crippling droughts to rising seas, scientists warn of global warming impacts. Representatives from more than 150 countries will gather at the United Nations on Friday to officially sign a Continue Reading
Crude oil storage helped commodity traders and refiners make strong profits last year and in the first quarter of 2016 but now the price structure which made it possible is Continue Reading
A high level of supplies on the U.S. market helped push retail gasoline prices lower despite a rally in crude oil prices, motor club AAA reported. AAA reports a national Continue Reading
Oil and the Doha Meeting Russian oil and condensate production will rise through 2017, even as the nation prepares for talks on an output freeze with other producers, according to Continue Reading
The World Bank said it was standing ready to offer its unique leverage on the global stage to help address the growing challenges of climate change. Laura Tuck, a vice Continue Reading
Russian state-controlled oil company OAO Rosneft reported a slight increase in full-year net profit, shielded from plunging oil prices that battered the results of western oil producers by a weakening Continue Reading
He’d borrowed from banks and investors and retirement funds, all in a frenzied mission to drill for oil and gas, and by the time Terry Swift realized he’d gone too Continue Reading
“Our recoverable oil reserves are about 29 billion tons. These are the ones that could theoretically be extracted from the subsoil. Crude oil production (without condensate) preliminarily amounted to about Continue Reading
Moody’s is withdrawing from the Russian domestic market as global rating agencies are caught in a dilemma between new Russian laws and western sanctions. Moody’s said on Wednesday that it Continue Reading
It’s hard not to get caught up in the optimism on the exhibition hall at the ARPA-E Innovation Summit, which is taking place this week in the D.C. area. Nearly Continue Reading
Oil-futures prices on the New York Mercantile Exchange rebounded Friday on short-covering after touching a more than 12-year low the previous day. Light, sweet crude futures on Nymex for delivery Continue Reading
The largest U.S. independent refiners are bullish on domestic gasoline demand as super-cheap fuel and the lure of bigger vehicles entice more consumers. Valero Energy Corp and Phillips 66 both Continue Reading
North American oil producers will face more exposure to low prices this year as their protection disappears. Exploration and production companies have hedged only 15 percent of total production volumes Continue Reading
