Oil Market About To Enter Supply Deficit
In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each Continue Reading
Piracy Threat For Oil Industry In Indian Ocean Shrinks Former High-Risk Area
The Oil Companies International Marine Forum (OCIMF) and international shipping associations have reduced the so-called High Risk Area for piracy attacks on ships and tankers in the Indian Ocean, but Continue Reading
CERAWeek: IEA forecasts surging Permian output to lead US over Russia in oil exports
Fueled by rapid growth in the Permian, US oil production will climb by more than 2.76 million b/d to 13.72 million b/d by 2024 as the US is forecast to Continue Reading
CERAWeek: Spotlight on sanctions, OPEC oil cuts, record US output, and investment in Houston
The global oil market will be watching Houston this week for signals out of the CERAWeek by IHS Markit conference on the path forward on US sanctions on PDVSA, the Continue Reading
Permian Refinery to Apply Lessons from Bakken Project
Meridian Energy Group, Inc., which is building a greenfield refinery in North Dakota to process Bakken crude, reported recently that it will build a similar facility in the Permian Basin. Continue Reading
U.S. oil drillers cut rigs for third week in a row: Baker Hughes
U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow Continue Reading
US Drops 11 Oil and Gas Rigs
The U.S. scrapped a total of 11 oil and gas rigs this week, according to Baker Hughes, a GE Company. The U.S. scrapped a total of 11 oil and gas Continue Reading
Exxon and Chevron place long-term bet on Permian shale boom
The big oil companies turned up late to the Permian party, but they are making up for lost time. ExxonMobil and Chevron, the two largest US oil groups, this week Continue Reading
Washington’s Offshore Drilling Plan Due In Weeks
The Trump administration is set to unleash its offshore, five-year oil drilling plan within weeks, Reuters reported , quoting an unnamed source in the know. The plan is being prepared Continue Reading
US rig count falls 25 on week to 1,085: S&P Global Platts Analytics
Highlights Oil rig count drops by 11 to 856, led by six rig decline in Permian Basin Gas rig count increases by one to 225 New York — The combined Continue Reading