‘Permania’ grips the US shale oil industry
They call it “Permania”. The Permian Basin of western Texas and eastern New Mexico has become the hottest region in the US shale oil industry, for drilling, for production and Continue Reading
Global oil, gas discoveries drop to 70-year low: Rystad Energy
Oil and gas discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil Continue Reading
U.S. Shale To Put A Firm Cap On Oil Prices
The latest Drilling Productivity Report released by the Energy Information Administration has shown that crude oil output in the shale patch will continue rising next month, with the Permian accounting Continue Reading
Shale Rebound Will Cramp OPEC’s Style
The Energy Department gave oil bulls a sobering reminder Tuesday: Shale oil production is rising strongly, particularly from the Permian Basin in western Texas and New Mexico. Putting an exclamation Continue Reading
$25 Trillion Investment Needed To Meet Future Oil Demand
The world needs to invest US$25 trillion in new oil-producing capacity over the next 25 years to meet growing demand, Saudi Aramco’s chief executive Amin Nasser said at the World Continue Reading
Trump Interior pick to clarify stance on federal land development
A U.S. Senate committee will grill President-elect Donald Trump’s pick to run the Department of the Interior, Congressman Ryan Zinke of Montana, during a confirmation hearing on Tuesday that is Continue Reading
How The Federal Reserve Will Shape Oil Markets In 2017
The energy sector over the next few years may look markedly different than it has over the last few years. Aside from political changes and OPEC’s rebalancing efforts, the markets Continue Reading
IEA Sees Significant Gains in U.S. Shale Oil as Prices Rise
Oil-price gains will trigger a “significant” increase in U.S. shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency. “U.S. shale-oil Continue Reading
U.S. shale oil output set to grow in February as prices rise
U.S. shale production is set to snap a three-month decline in February, the U.S. government said on Tuesday, as energy firms boost drilling activity with crude prices hovering near 18-month Continue Reading
U.S. oil and gas industry has turned the corner: Kemp
U.S. petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion. Domestic Continue Reading