The United States will become a net oil and oil product exporter this year thanks to continued growth in production combined with slacker domestic demand, the Energy Information Administration said Continue Reading
Students are back at school, and preparing for another wave of Friday strikes in protest at politicians’ failure to tackle global warming. Shocking images of floods in Indonesia, wildfires in Continue Reading
Another billion-dollar energy project is polarizing Canada once again, but this time, it’s got nothing to do with pipelines , or even LNG terminals . It’s the Frontier oil sands Continue Reading
Highlights EIA sees just 400,000 b/d in growth over a decade Alaska output forecast to nearly double Washington — The US shale oil boom will not burn out, but will Continue Reading
Range Resources rushed to refinance its debt at the start of this year, taking advantage of a rally in oil prices and renewed investor demand for junk-rated energy bonds. Despite the Continue Reading
U.S. oil producer Hess Corporation said on Tuesday it expects to allocate US$3 billion for production, development, and exploration in 2020, focusing on high-return investments in the Bakken shale play Continue Reading
As 2020 begins, the impacts of climate change have become increasingly clear around the world. The new year started amid devastating wildfires, tied to the worst droughts Australia has experienced Continue Reading
Equinor, Shell and Total vowed to press on with projects in Vaca Muerta, even as policy uncertainty and price controls make it harder to plan investment in Argentina’s biggest shale Continue Reading
A Post by Ovi at peakoilbarrel. Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Continue Reading
Texas at the epicenter. We’re witnessing the destruction of money that loosey-goosey monetary policies encouraged. Following the sharp re-drop in oil and natural gas prices in late 2018, bankruptcy filings Continue Reading
After a brutal week for oil prices courtesy of an outbreak of a deadly virus in China, Baker Hughes reported that the number of oil and gas rigs in the Continue Reading
Producers in the New Mexico portion of the Permian Basin have shown resiliency amid depressed commodity prices and falling rig counts. Production out of the Permian’s Delaware sub-basin in New Continue Reading
Rising productivity from new wells has driven U.S. shale production higher in recent years and higher in 2019, too, the Energy Information Administration (EIA) said on Friday. Last year, shale Continue Reading
Beaten-down commodity markets may be tempting investors to start adding the asset class to their portfolios as they seek to diversify even as the epic stock market bull run continues Continue Reading
Highlights Companies halt plans to fire workers Unions, producers to sit down for further talks Agreement comes as government seeks to improve investment conditions Buenos Aires — An oil union Continue Reading
Despite the fact that United States President Donald Trump declared a truce between the U.S. and China in their more-than-a-year-long trade war in Switzerland this week, we shouldn’t expect to Continue Reading
Highlights US crude stocks slip 400,000 barrels to 428.11 million barrels Refinery utilization at 90.5% of capacity, but crude inputs hold USGC product glut sparks interest in Jones Act vessel Continue Reading
US ethanol production averaged 1.049 million b/d for the week ended January 17, a 46,000 b/d decrease compared with the previous week but still up 18,000 b/d year on year, Continue Reading
API contends it’s a win for US consumers. U.S. crude oil production and exports reached historic highs in the final month of 2019, the American Petroleum Institute (API) reported Thursday. Continue Reading
More than 200 oil and gas companies in North America have filed for bankruptcy since 2015, and the list of casualties could continue to climb this year. From 2015 through Continue Reading
The heart of the U.S. oil industry, Houston, should be ready to position itself as a leader in the energy transition as climate change concerns will change the industry over Continue Reading
Getty Images An oil pump is viewed in Big Springs, Texas. Getty Images Oil prices already gave back much of December’s gains, following rising global supplies and easing tensions in Continue Reading
In a first ever, Permian forward gas prices settled in negative territory this week as the 2020 market outlook for pipeline capacity exiting the West Texas basin continues to deteriorate. Continue Reading
“All oil-field workers are radiation workers.” That quote comes from a blockbuster investigation by Justin Nobel writing in Rolling Stone , who has spent more than a year and a Continue Reading
Since the turn of the year, energy stocks have become a put owner’s dream–what with the energy sector virtually generating the worst returns of all US sectors. And the harder Continue Reading
The number of oil and gas company bankruptcies in the United States and Canada rose 50% in 2019 over the previous year, and is likely to increase as a slide Continue Reading
The global oil and gas industry is facing the “twin threats” of the loss of profitability and the loss of social acceptability as the climate crisis continues to worsen. The Continue Reading
Discovery isn’t dead. It’s just moved into trickier geological territory, but that’s not stopping the impressive advance. Despite growing anti-oil sentiment, oil and gas companies unearthed 12.2 billion new barrels Continue Reading
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
U.S. shale oil fracking has already peaked and is in a period of sustained contraction, according to two major providers of services to the industry. That view from Halliburton Co. Continue Reading
Oil production in the seven most prolific shale plays in the United States is set to increase by 22,000 bpd in February to 9.2 million bpd, the Energy Information Administration Continue Reading
The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report. The Continue Reading
Occidental Petroleum’s (NYSE:OXY) management has been pummeled since the deal with Anadarko Petroleum was announced last spring. Investors and stock analysts alike decried the purchase as being a “value destroyer,” Continue Reading
Growing climate concerns and commitments to clean energy have done little to curb worldwide oil demand , which in the third quarter of 2019 increased by 1.1 million barrels per Continue Reading
U.S. West Texas Intermediate crude oil futures are edging higher on Friday, grinding out a small gain for a third session out of four. Despite what looks like to be Continue Reading
Oil bulls will get no help this week before the week’s end, with Baker Hughes reporting that the number of oil and gas rigs in the US increased this week, Continue Reading
The three biggest oilfield service providers have all announced asset sales as they adapt to an environment featuring laxer demand for their services, Reuters reports . Halliburton is selling its Continue Reading
While U.S. crude oil production is set to continue to rise, energy-related carbon dioxide (CO2) emissions in America are expected to have dropped last year and to continue falling through Continue Reading
Forecasting a significant contraction in North American oil and gas activity for 2020, Schlumberger Friday unveiled a 2020 strategy focused on expanding margins by shrinking its less profitable business lines. Continue Reading
The U.S. rig count increased for the first time this year as the nation added 14 oil rigs and one gas rig, according to weekly data from Baker Hughes Co. Continue Reading
The risk of oil supply disruptions from around the world has diminished, and rising non-OPEC production provides a “solid base from which to react to any escalation in geopolitical tension.” Continue Reading
The oil market is likely to stay well supplied in the near term with oil stocks growing in the first half of 2020 despite deeper production cuts from the OPEC Continue Reading
All OPEC data for the charts below are from the OPEC Monthly Oil Market Report https://momr.opec.org/pdf-download/ OPEC crude oil production continued to slide in December. OPEC production was down 161,000 Continue Reading
A leading oil union in Neuquen, Argentina’s biggest oil basin, is threatening to go on strike if companies lay off even one worker, a situation that could hit crude and Continue Reading
Over the past six months, the number of drilled but uncompleted (DUC) wells across the U.S. shale patch has been steadily declining in a fresh sign that shale producers have Continue Reading
Ticker: Just a few years back, the U.S. shale industry was drowning in a sea of hubris, with pompous experts making outrageous claims such as the Permian Shale is a Continue Reading
Although oil production in the Permian Basin shows all signs of slowing down in the new year , the West Texas shale revolution is not over yet. In fact, shale Continue Reading
A rise in oil demand growth this year will be offset by a sharper increase in non-OPEC supply, the producer group said in its monthly oil market report published Wednesday. Continue Reading
Summary of Weekly Petroleum Data for the week ending January 10, 2020 U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week ending January 10, 2020, Continue Reading
U.S. shale growth may be slamming on the breaks, although analysts differ over how significant the slowdown will be. The EIA says that U.S. shale growth will slow down this year, but the Continue Reading
