GoM July Production Update
GoM C&C production for July by BOEM was 1746 kbpd and by EIA 1761, compared with, respectively, 1631 and 1634 kbpd (corrected) in June. The EIA number is a new Continue Reading
Weekly stocks report
Summary of Weekly Petroleum Data for the Week Ending October 20, 2017 U.S. crude oil refinery inputs averaged over 16.0 million barrels per day during the week average. Refineries operated Continue Reading
The biggest U.S. offshore oil and gas grab to attract the biggest firms
With the opening of what’s described as the biggest grab of U.S. offshore assets ever, an analyst said the region is best suited for the biggest of firms. U.S. Interior Continue Reading
Oil Prices Up After API Reports Huge Gasoline Draw
The American Petroleum Institute (API) reported a small draw of 519,000 barrels in United States crude oil inventories, largely inline with an S&P Platts’ survey of analysts that expected inventories Continue Reading
Aramco CEO Warns Of Imminent Oil Supply Crunch
As much as US$1 trillion of investments has either been deferred or canceled with the lower-for-longer oil prices, and this underinvestment will impact the future of energy, Amin Nasser, the Continue Reading
The ‘sweet spots’ fueling the US shale oil boom ‘will not last forever,’ Saudi Aramco CEO says
Saudi Aramco’s CEO says he does not worry about the booming U.S. shale oil output. The “sweet spots” that American frackers are focusing on will eventually deplete, forcing them to Continue Reading
BOEM Plans Biggest GOM Lease Sale Ever
BOEM proposes lease sale for nearly 77 million acres in Gulf of Mexico. The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) on Tuesday proposed what it Continue Reading
Global Oil Supply Disruptions Lowest Since 2012
Unplanned disruptions in global oil supply dropped to 1.6 million barrels per day (bpd) in September 2017, which was the lowest level of crude offline due to unforeseen events since Continue Reading
US shale investors tire of ‘growth at any cost’ model
In a presentation at the New York Stock Exchange this week, Doug Suttles, chief executive of Encana, spelt out the new reality for North American oil and gas producers. The Continue Reading
Norway Unfazed By Peak Oil Concerns
When crude oil demand will peak is anyone’s guess. Forecasts vary widely. Wood Mackenzie says that peak demand is “very real,” and sees a decline of 4 million bpd between Continue Reading