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Energy / Crude Oil

Articles and research looking into crude oil, whether it be exploration and refining - crude oil price movements or new crude oil extraction techniques. we have it covered here. Look at our energy section for more fossil fuel coverage.

  • All’s Fair In Love And War And Oil

    An Iraqi Kurdish crude oil tanker has been seen floating off the coast of Israel after offloading its cargo, ship tracking data has shown.If true, the transaction would be in open defiance of Baghdad, with whom Israel has no diplomatic or commercial relations. Furthermore, any commercial transaction between an Arab country and Israel violates the ruling of the Arab Boycott Bureau that bans all commercial exchanges with the Jewish state.But it would not be the first time that Kurdish oil has found its way into the Israeli market.Iraqi Kurdistan, although autonomous, is still in principle supposed to conduct its oil…

  • Bypassing Keystone: Canadian Firm Uses Loophole To Ship Oil Sands To U.S.

    Instead of waiting to obtain a “presidential permit” to ship oil sands from Canada to the United States, one Canadian firm has found a workaround, and environmental groups aren’t happy about it.Pipeline operations giant Enbridge has figured out how to avoid having to go through the regulatory process with the U.S. State Department for approval of an oil sands pipeline. According to EnergyWire, the company plans to build several interconnections on either side of the border between Manitoba and Minnesota. The interconnections will allow the company to transfer heavy oil from its Alberta Clipper pipeline to another pipeline known as…

  • Disagreement Over Scotland’s Oil Wealth Fuels Independence Debate

    Scottish First Minister Alex Salmond continues to insist that the strong future of Scottish oil would provide major support for the country if it achieves independence from the United Kingdom -- but not everyone agrees. Scotland will hold a referendum on Sept. 18 to vote on the question of whether it should become an independent country.Addressing the Scottish Parliament on Aug. 21, Salmond repeated predictions he has made before about the long-term strength of Scotland’s oil sector. Sir Ian Wood, founder of the multinational energy company Wood Group based in Aberdeen, argued that Salmond was exaggerating the country’s oil reserves…

  • Five Regions Where Big Oil Is Foolishly Chasing Profits

    Big Oil has been very successful at developing sophisticated technology to access oil in some pretty remote areas. Consider the technological skill necessary to drill several miles below the seabed at staggering depths, or the processing equipment needed to transform viscous bitumen into usable fuel – these are impressive feats of engineering and science. But after years of spending billions of dollars on these challenges, the world’s largest oil companies are running into a serious problem: Many of their projects are not profitable and won’t be anytime soon.The Carbon Tracker Initiative (CTI) has put together an impressive report that outlines…

  • Oil Companies Turning Away From The Middle East

    The violence and cutthroat politics of the Middle East, combined with declining oil and gas production levels, has triggered a subtle but significant shift away from what has long been the center of the energy industry to other regions around the world.The overall geopolitical situation in the Middle East has been deteriorating since the first major war between Arabs and Israelis in 1948. Conflicts are becoming more violent, weapons used are deadlier, and the number of casualties keeps rising. The two most recent conflicts in the region –the war in Gaza between Palestinians and Israelis -- claimed the lives of…

  • Is Foam About To Transform The Oil Recovery Business?

    The best way to get oil out of the ground may be to pump in foam.Scientists pumped foam into an experimental rig that mimicked the flow paths deep underground and found the foam was more effective than more commonly used materials, such as water and gas.Oil rarely sits in a pool underground waiting to be pumped out to energy-hungry surface dwellers. Often, it lives in formations of rock and sand and hides in small cracks and crevices that have proved devilishly difficult to tap. Drillers pump various substances downhole to loosen and either push or carry oil to the surface.Sibani…

  • Why Oil Prices That “Should” Be Going Higher Are Going Lower

    The world has changed.  Even two years ago, with a war going on by proxy between Russia and Ukraine, we'd have seen a ten dollar rally in the price of crude, not prices below $97, like we're seeing today.  Add to that the Iraq crisis in the North, the continuing Syrian conflict, the destabilization in the oil producing countries of Libya and Egypt and you'd have been shocked - at least in 2011 - to see prices go decisively under $100 a barrel and act badly there.  What's going on here?One long-term trend in the oil market and one very…

  • Playing The Coming Mexican Oil Boom

    For more than seventy years the oil reserves of Mexico have been the exclusive property of the state run oil company Petroleos Mexicanos, or Pemex. That changed at the end of last year when the Mexican parliament agreed to amend the country’s constitution and allow foreign oil companies in. That decision prompted many to start guessing who would benefit most, with the usual suspects, Exxon Mobil (XOM), Chevron (CVX) and BP (BP) heading most people’s lists. On Wednesday of this week, though, we found out why the big oil companies may not be the best way to play the coming…

  • As Demand For Oil Drops, Worries Rise For Debt-Heavy Companies

    Weak global oil demand is keeping a lid on prices, according to a new report from the International Energy Agency (IEA), and that’s bad news for companies carrying a lot of debt.  Oil demand for 2014 will be lower than previously expected, prompting the IEA to downgrade its forecast by 180,000 barrels per day (bpd) for the year. In the second quarter, global demand only increased at an annualized rate of 700,000 barrels per day, the slowest pace in over two years. Flagging demand is helping to keep oil prices from spiking, which is fortunate, considering that violence in oil…

  • Brazil’s Petrobras Ramps Up Production of Pre-Salt Oil

    After several years of very little progress, Brazil is finally beginning to extract oil from ultra-deep water. It’s a welcome development for the South American country, which has experienced four years of flat oil production. Brazil’s economy grew at an astounding pace from 2005 to 2010, thanks to a commodity boom that sent exports of things like soy, beef and iron ore soaring. Brazil had already been a major oil exporter for years, but things really took off after the discovery of a massive deposit of offshore oil in 2007. After that, the country set its sights on becoming one…