U.S. Rig Count Rises To Highest Point In 1 Year
Oilfield services provider Baker Hughes is ringing in the new year with a 7-rig increase this week to the number of active oil and gas rigs in the United States, Continue Reading
Cost Reduction, Greater Efficiency Focus of Technology in 2017
Companies will continue focus on technology to keep costs low while enhancing efficiency and safety, industry observers tell Rigzone. A possible oil price recovery in 2017 won’t change the oil Continue Reading
The Bad News Continues For Offshore Oil And Gas
The oil price bust, which resulted from the global crude oil glut, has created yet more oversupply, this time in the offshore industry, where a rig and vessel glut is Continue Reading
U.S. crude stocks fall sharply, products surge
Crude oil futures fell on Tuesday as expectations that this week’s reports will show U.S. crude inventories rose again countered supportive news of Libyan oilfields being shut. U.S. crude stocks Continue Reading
Has U.S. Gasoline Demand Peaked?
Several years of low gasoline prices have upended a decade-long shift towards more fuel efficient vehicles in the United States. For two years in a row, the U.S. auto industry Continue Reading
OPEC Oil Output Slides in December Amid Nigeria Disruptions
OPEC’s crude production fell by 310,000 barrels a day in December, as unplanned disruptions in Nigeria reduced the group’s supply before deliberate cuts take effect this month. Nigeria’s daily output Continue Reading
Oil business seen in strong position as Trump tackles tax reform
Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump’s cabinet is studded with oil champions Continue Reading
IEA Oil Market Report- December 2016
The IEA released highlights for the December Oil Market report in mid December. I have used information from the November report and assumed OPEC crude output will be 32.7 Mb/d Continue Reading
Oil Companies That Sold Shares During Collapse Are Now Riding High
Investors who bet on oil companies when crude prices were at a nadir benefited from… Oil-and-gas companies that sold shares to raise cash during a vicious collapse in the price Continue Reading
Exxon’s 2040 Outlook: Fossil Fuels Aren’t Going Anywhere
Gas, Nuclear, and Renewables Will Grow the Most, in that Order The global energy mix will not look that much different for oil and gas in 2040, according to Exxon Continue Reading