Oil and Gas Investments Must Rise to $523B a Year
The IEF said spending on oil and gas projects slumped 30 percent to $309 billion in 2020. The Riyadh-based International Energy Forum has called on companies to raise investment in Continue Reading
World Leaders Have To Face The Truth About Oil Demand
Across the world, politicians are grappling with the reality of expensive energy Price shocks, scarcity and energy poverty are on the cards after two consecutive years of underinvestment in the Continue Reading
Top Executive In U.S. Shale Is Worried Oil Prices Could Go To $100
Pioneer Natural Resource CEO Scott Sheffield voiced his concerns about structurally low investment in upstream Sheffield: “I’m worried that it may get too high, above $100 (per barrel),” After half Continue Reading
Oil Investment Must Rise To $525 Billion Per Year To Avoid Supply Crunch
Investments in oil and gas exploration and production continue to be depressed Moody’s: Global annual upstream spending needs to increase by as much as 54 percent to $542 billion if Continue Reading
Has The EIA Massively Overestimated The Potential Of U.S. Shale?
A new report from Earth Scientist David Hughes seriously undermines rosy long-term forecasts made by the U.S. Energy Information Administration (EIA) for U.S. oil and natural gas from shale deposits Continue Reading
Are Worker Bonuses Coming Back To The U.S. Oil Industry?
The price of WTI has recovered 60% to $72.60 from just $45.52 a year ago. And such gains in oil prices could spark a resurgence in oil worker bonuses just Continue Reading
Need for investment is critical for oil, gas industry: World Petroleum Congress panelists
Highlights 2021 investment down 23% from 2019 Next 2 years ‘critical’ to restore output: study Permian remains ‘growth engine’ for US More investment is needed in the upstream oil and Continue Reading
Baker Hughes CEO Sees Ample Oil Supply in Rebuke to Halliburton
A day after Halliburton Co. warned of an imminent oil shortage, larger oilfield rival Baker Hughes Co. offered a sunnier outlook. “We don’t see a shortage at the moment,” Lorenzo Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The December Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic. Notably, the emergence of the SARS-CoV-2 Continue Reading
Omicron threatens Asia oil demand just as pricing favours Atlantic crude
Recent shifts in the relative price of different crude grades have dealt oil exporters from the vast Atlantic Ocean basin the best chance in months to sell to top consuming Continue Reading