Will peak oil save Earth’s climate?
In spite of record increases in solar and wind energy development, human carbon emissions continue to rise because, over the last decade, fossil fuel use has grown ten-times faster than Continue Reading
Oil Rig Count Inches Higher In Coronavirus Plagued Markets
Baker Hughes reported that the number of oil and gas rigs in the US rose this week by 1 to 791, with the total oil and gas rigs clocking in Continue Reading
Have We Passed ‘Peak Growth’ For Tight Oil?
Has U.S. oil production growth hit the buffers? Supply has boomed over the last decade, disrupting the market, domestically and internationally. But weak commodity markets and corporate strategies are now Continue Reading
Non-OPEC Output Reaches New High
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to October 2019. Continue Reading
US Rig Count Barely Budges
The US rig count is up just one rig from last week to 791. The U.S. rig count is up one rig from last week to 791, with oil rigs Continue Reading
Many signs of peak oil and decline
Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending February 14, 2020 U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending February 14, 2020, Continue Reading
Texas Oil Production To Rise In 2020 Despite Lower Prices
Despite the slowing growth rate across the U.S. shale patch, oil production in Texas will rise in nearly every month in 2020, thanks to sufficient fracking activity in the state Continue Reading
EIA Cuts 2020 Oil Demand Forecast By 378,000 Bpd
After on Friday OPEC slashed its oil demand outlook for this year by 230,000 bpd, the Energy Information Administration followed, revising its global oil demand forecast by as much as Continue Reading
Earnings Show Shale Players Competing for Dividend Growth
Independent explorers have been punished by investors for aggressive growth plans that favored skyrocketing production over returning cash to shareholders. (Bloomberg) — Three shale producers are fighting to show which Continue Reading
Fracking Ban Would Cost Millions of Jobs
A fracking ban would cost millions of jobs, according to the American Petroleum Institute. A fracking ban would cost millions of jobs. That’s according to the American Petroleum Institute’s (API) Continue Reading
US shale oil production set for slow growth in February, March: EIA
US shale oil production is set to increase only 11,000 b/d in February and 18,000 b/d in March, low growth levels not seen in over three years, the US Energy Continue Reading
Investors Tightening the Screws on Oil, Gas Acquisitions | Rigzone
Owing to a collapse of oil prices at the end of 2018, M&A activity in oil and gas has almost ground to a halt after a flurry of deals last Continue Reading
Apple says will not meet revenue guidance for March quarter due to coronavirus outbreak
Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China. The Continue Reading
RED WARNING LIGHT: The World Is Rapidly Burning Through Its Conventional Oil Reserves
While Americans continue to enjoy the convenience provided by the just-in-time inventory supply-chain Leech and Spend Suburban Economy, the rate we are consuming the high-quality conventional oil reserves should scare Continue Reading
Oil Rig Count Inches Higher As Prices Stabilize
Baker Hughes reported that the number of oil and gas rigs in the US held fast yet again this week at 790, with the total oil and gas rig falling Continue Reading
Is The Permian Basin Getting Gassier?
1. Is the Permian getting gassier? – “We expect Permian gross gas production to increase by more than 4.5 billion cubic feet per day between the fourth quarter of 2019 Continue Reading
Oil Market Report – February 2020
Global oil demand has been hit hard by the novel coronavirus (Covid-19) and the widespread shutdown of China’s economy. Demand is now expected to fall by 435 kb/d y-o-y in Continue Reading
America’s Oil Boom Feels More Like Bust in the Shale Patch
Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of Continue Reading
Do Oil Drillers Need A New Business Model?
Exploration and production (E&P) companies are set to face one of the biggest challenges – if not the biggest challenge ever – to their business models. This challenge is a Continue Reading
The toxic reach of Deepwater Horizon’s oil spill was much larger — and deadlier — than previous estimates, a new study says
The study comes as the Trump administration is preparing to finalize a that would allow the oil and gas industry to buy leases in every part of the Atlantic, Pacific Continue Reading
North Dakota’s Crude Oil Production Could Peak Within 5 Years
Crude oil production in North Dakota could peak over the next five years as producers will have drilled up the core production areas and will have to move to less Continue Reading
EIA Reports Hefty Oil Inventory Build
Crude oil prices hesitated today after the Energy Information Administration reported a U.S. oil inventory build of 7.5 million barrels for the first week of February. The report came a Continue Reading
Analysis: US crude stocks rise as export slowdown pushes barrels to storage
US crude stocks climbed for a third consecutive week last week as production ticked higher and exports slowed, US Energy Information Administration data showed Wednesday. Commercial crude inventories increased 7.46 Continue Reading
STEO highlights: EIA lowers global oil demand due to impacts of coronavirus on China
The US Energy Information Administration on Tuesday forecast global oil market demand fundamentals to tighten this year, largely due to the impacts of the coronavirus outbreak in China. “EIA expects Continue Reading
The Shale Oil Bubble Accounted For 99% Of U.S. Oil Production Growth Since 2007
Without the unprofitable and unconventional shale oil supply, U.S. oil production would still be below 5 million barrels per day. While we can applaud the shale industry for allowing the Continue Reading
Peak Shale Could Spark An Offshore Drilling Boom
John Hess, CEO of Hess Corporation, a large U.S.-based independent oil producer, recently told a Houston audience where he’s putting the company’s money these days : Offshore drilling. That should Continue Reading
US Job Losses in Oil, Gas Industry Flat in January
Job losses in oil and gas eased in January. The job losses in the U.S that have plagued the oil and gas industry for most of the latest downturn showed Continue Reading
The threats to energy security have changed
Despite plentiful supplies of fuel and low prices, energy security is a global concern. The fear 30 or 40 years ago was that supplies would be cut off by Opec Continue Reading
Note to EIA: Major shale operator sending cash elsewhere
John Hess, CEO of Hess Corporation, a large U.S.-based independent oil producer, recently told a Houston audience where he’s putting the company’s money these days : Offshore drilling. That should Continue Reading
Supermajors Are On The Prowl For Fresh Deals In The Permian
There hasn’t been much Permian-centric M&A follow-through from last spring’s buy-out of Anadarko Petroleum by Occidental, (NYSE: OXY). At the time, the sages and pundits were widely predicting an M&A Continue Reading
Coronavirus Is Bruising America’s Oil Patch—How Badly Is the Question
Many companies in America’s oil patch were already struggling when the coronavirus came around. Investors are worried some won’t pull through. U.S. benchmark crude prices started the year strong, rising Continue Reading
BLM leadership expanded oil drilling in Colorado over local staff objections
BLM leadership expanded oil drilling in Colorado over local staff objections The Bureau of Land Management’s (BLM) Washington office ignored the advice of its Colorado staff, deciding to expand oil Continue Reading
Texas Regulator Readies First Flaring Report Amid Backlash
A Republican defending his seat on Texas’s all-powerful energy regulator is preparing a first-of-its-kind report on natural gas flaring, a practice that’s come under fire from environmental groups and even Continue Reading
Oil Rigs Hold Steady While Oil Prices Continue to Sink
It’s business as—almost–usual in the United States, even after a fifth week of faltering oil prices as the coronavirus outbreak eats away at oil demand and strikes fear in the Continue Reading
U.S. Top Shale Oil Fields Decline 10 Times Faster Than Global Oil Industry
The Global Economy is heading for serious trouble when the disintegration of the U.S. Shale Oil Industry begins, likely within the next few years. With Global GDP growth based on Continue Reading
Peak Shale Will Send Oil Prices Sky High
Much of the cheap oil has been produced, and the oil industry is increasingly relying on costly reserves. While the world is awash in supply right now, the market may Continue Reading
Government Agency Warns Global Oil Industry Is on the Brink of a Meltdown
A government research report produced by Finland warns that the increasingly unsustainable economics of the oil industry could derail the global financial system within the next few years. The new Continue Reading
Sanders unveils fracking ban proposal with sweeping prohibitions on pipelines, crackers
US Senator Bernie Sanders, a leading Democratic presidential candidate, has introduced legislation to phase in a nationwide ban on hydraulic fracturing and immediately block all federal permits on “fracked” oil Continue Reading
Peak Permian Oil Production May Arrive Much Sooner Than Expected
In mid-January, Adam Waterous, who operates the private equity firm Waterous Energy Fund, made a prediction about the crown jewel of the U.S. shale oil industry, the Permian shale play Continue Reading
Plains sees Permian oil output growth slowing to 400,000 b/d by year end
Plains All American Pipeline expects Permian oil production growth to shrink to 400,000 b/d by the end of 2020 as drillers focus on capital discipline, executives said Tuesday. US production Continue Reading
The $900bn cost of ‘stranded energy assets’
Donald Trump was thinking about the teenage climate activist Greta Thunberg when he took aim at what he called the “prophets of doom” at Davos in January. But just as Continue Reading
Big businesses face pressure to avoid investing in areas Trump wants to develop
Democrats are mounting an end-run around the Trump administration’s plans to open public lands to oil drilling and other development– by going straight to the purse strings. A dozen-and-a-half senators Continue Reading
Russia’s Oil Production Hits Highest In Five Months
Russia’s production of crude oil and condensate inched up to 11.28 million barrels per day (bpd) in January, up from 11.26 million bpd in December and the highest production level Continue Reading
Oil Bankruptcies Are Reaching Worrying Levels
Law firm Haynes and Boone recently released its updated Energy Bankruptcy Reports . These reports cover North American oil and gas producers, oilfield services and midstream bankruptcies from the beginning Continue Reading
US Production Growth Surges
All of the oil production data for the US states comes from the EIAʼs Petroleum Supply Monthly . In addition, information from other EIA offices is provided to project future Continue Reading
Jim Cramer: ‘’Fossil Fuels Are Done’’
“I’m done with fossil fuels. They’re done. They’re just done.” CNBC’s Jim Cramer didn’t even feel the need to address the disappointing earnings from the oil majors. Chevron and ExxonMobil Continue Reading
What Impact Would a Fed. Acreage Frack Ban Have?
Rystad Energy looks at the potential impact of a federal acreage fracking ban. If fracking activity was to be eliminated on federal acreage, the result would be a widespread shift Continue Reading
Why 2020 Could Be A Record Year For Oil Trading Giants
Retail investors with long positions in crude oil markets had little to cheer about in 2019 as the market failed to maintain the early-year rally as pipeline outages, geopolitical tensions Continue Reading
$15 Billion Oil Sands Project Might Not Go Ahead Even If Trudeau Approves It
Teck Resources is uncertain it will go ahead with a planned oil sands project that is awaiting the approval of the federal Canadian government, the Canadian Press reports , citing Continue Reading