Global Oil Glut Set to Worsen as Nigeria, Libya Fields Restart
Exxon said to be on brink of resumption of top Nigeria grade Libya lifts export restriction on ports halted for months Amid the most enduring global oil glut in decades, Continue Reading
EIA now provides estimates of drilled but uncompleted wells in major production regions
Starting this month, EIA’s Drilling Productivity Report (DPR) includes monthly estimates of the number of drilled but uncompleted wells (DUCs) in the seven DPR regions. Estimates will go through the Continue Reading
‘Deepwater Horizon’ Film Retraces Stigma of U.S. Oil Disaster
BP supervisors on rig depicted putting profits above safety Star-driven movie premiered at Toronto filmfest this week Just as memories of the 2010 Deepwater Horizon oil rig disaster were starting Continue Reading
“Peak Oil” – the Real Cause of the Growing Social Inequality in the US
In a recent article on the Huffington Post, Stan Sorscher reports the graph above and asks the question of what could have happened in the early 1970s that changed everything. Continue Reading
Crude Crumbles On Weak IEA Data
Oil prices fell 3% on Tuesday on bearish IEA data and a strong dollar after posting small gains on Monday.• The March 2011 nuclear meltdown in Japan led to the Continue Reading
Global oil surplus to persist into first half of 2017: IEA
A sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply means the crude market will be oversupplied at least through the first six months of Continue Reading
Upstream energy sector crumbling
The number of struggling companies tied to the exploration and production side of the energy sector has nearly doubled, Moody’s Investors Service found. “The jump in oil and gas defaults Continue Reading
How ‘Zombie’ Oil Companies Stay Alive in Life-or-Death Debt Markets
Beneath the surge in corporate defaults lies a surge in distressed exchanges. Such exchanges — defined by Moody’s Investors Service as when a troubled company offers its lenders new or Continue Reading
Peak Oil by Any Other Name is Still Peak Oil
One of the most compelling charts I have ever seen is the “Growing Gap” chart that used to appear on the front page of every ASPO Newsletter. This is the Continue Reading
Anadarko Goes Deeper in GOM with $2B Deal
Anadarko Petroleum Corp. is diving even further into deepwater Gulf of Mexico with a $2 billion acquisition of assets from Freeport McMoran Oil & Gas, the company announced Monday. The Continue Reading