Oil Rig Competition Flares Up Amid Permian Boom
Surging U.S. oil production on the one hand, and the exploration and production companies’ focus on keeping costs in check on the other, have prompted drilling rig makers to shift Continue Reading
EIA’s estimates for Texas crude oil production account for incomplete state data
Petroleum Supply Monthly, and the Texas Railroad Commission Crude oil and lease condensate production data for Texas, published by EIA in its Petroleum Supply Monthly (PSM) and by the Texas Continue Reading
U.S. crude stockpiles seen up last week, products likely down: Reuters poll
U.S. crude inventories were forecast to have risen for the fourth time in five weeks, while refined product stockpiles likely fell last week, a preliminary Reuters poll showed on Monday. Continue Reading
Steel tariffs to squeeze oil service, producer margins in West Texas, investors say
The Trump Administration’s steel tariffs will increase costs in the West Texas oil patch at a time when drillers and service firms already faced rising labor and materials costs, investors Continue Reading
Man-Made ‘Magma’ Could Plug Leaking Abandoned Oil Wells
A Norwegian company has successfully pilot-tested in Canada a new technology that will permanently plug oil wells and ensure that no greenhouse methane gas escapes. Currently, the most-widely used technique Continue Reading
Sleepwalking Into The Next Oil Crisis
One school of thought is that future oil demand is set to decline because consumers will have better options. Many in this “peak demand” camp believe that the growth of electric Continue Reading
Asian oil, gas producers stepping up activity after long lull
Asia’s oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has Continue Reading
Trump Rollbacks Target Offshore Rules ‘Written With Human Blood’
A dozen miles off the coast, on a rusty, aging platform, workers in hard hats and overalls spend their days extracting oil and gas from the ocean floor before retreating Continue Reading
Gulf Oil Sale No Turning Point for Offshore Drilling
The Trump administration’s efforts to jump-start offshore exploration got off to a weak start as a big auction of oil and gas leases in the Gulf of Mexico drew few Continue Reading
Shale Oil Myths: ‘It Is Too Light And No Good’
Shale oil skeptics claim that the global crude supply is turning alarmingly light due to the growth of shale production. The world is facing acute shortages of heavy and medium Continue Reading