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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.

  • Breakthrough In Oil Sands Waste Treatment

    Ultraviolet light is an economical and simple way to clean up the residue, or “tailings,” left over from extracting oil from Canadian tar sands. But now scientists at the University of Alberta have found an even cheaper way: Ditch the UV lamps and replace them with sunlight.Ponds containing oil sands tailings have various contaminants, including suspended solids, salts and other soluble material such as acids, benzene and hydrocarbons.  Using conventional decontamination methods on “oil sands process affected water” (OSPW), as it’s known, takes at least 20 years to get it clean.Using UV lamps and chlorine makes the process virtually instantaneous.…

  • Oil Market Fundamental & Technical Analysis – 26th September 2014

    Weekly Crude Oil AnalysisThe short-term picture for November crude oil futures turned a little rosier after prices consolidated for a third week. Some of the buying was related to profit-taking following the prolonged move down in price and time, some was fueled by geopolitical concerns, but most of the buying appears to be related to another drawdown in inventory. Technical factors may have contributed to the profit-taking. Given the range created by the July 2012 bottom at $82.07 to the June 2014 top at $104.44, a major retracement zone has been created at $93.26 to .90.62. Although the market broke…

  • Another Western Energy Company Ends Russian Cooperation

    ExxonMobil Corp. was the first Western company to bow to Western sanctions against Moscow and suspend offshore Arctic drilling for Rosneft, the Kremlin-owned oil giant. Now another large Western energy company, France’s Total, is ending its effort with Russia’s Lukoil to explore for shale oil in Siberia.But Total CEO Christopher de Margerie told the Financial Times that the move isn’t likely to have much of an impact on the company. “The Lukoil joint venture is definitely stopped,” he said. “But it hadn’t started, so it doesn’t have any impact [on Total].”Still, de Margerie made the comments the same day his…

  • Peak Oil: Are We In The Eye Of The Storm?

    Ten years ago peak oil was assumed to be a rather straightforward, transparent process. What was then thought of as “oil” production was going to stop growing around the middle of the last decade. Shortages were going to occur; prices were going to rise; demand was going to drop; economies would falter; and eventually a major economic depression was going to occur. Fortunately or not, depending on your point of view, the last ten years have turned out to a lot more complicated than expected. Production of what is now known as “conventional” oil did indeed peak back around 2005,…

  • All Eyes On Kenya: The Next Big Oil Exporter

    Not even the specter of a spillover of Islamic extremism from Somalia can dampen the atmosphere in Kenya, where commercial oil production is expected to begin in 2016 and discovery after discovery has made this the hottest and fastest-paced hydrocarbon scene on the continent.  When it comes to new oil and gas frontiers, today it’s all about Africa. And more specifically, it’s all about the eastern coast, with Kenya the clear darling--not just because it’s outpacing neighboring Uganda by leaps and bounds, but also because despite some political instability hiccups and the threat of militant al-Shabaab, it’s still one of…

  • Dropping Prices and Supply Glut Sends Oil Into Floating Storage At Sea

    There is so much surplus oil sloshing around right now, some of it is being stored on tankers at sea. It's well known that there is a glut of oil in the United States because of a lack of infrastructure and the ban on exports. A surge in production, coupled with tepid demand, has caused prices to decline by about 13 percent since June: West Texas Intermediate (WTI) is trading at a price discount.And those declining prices have led some commodity traders to decide that excess oil is better left at sea. There are now 25 to 50 million barrels…

  • How will Libya’s ongoing crisis affect MENA region?

    As international attention shifts to the Islamic State, many observers have all but forgotten the link between the toppling of Libyan leader Muammar al-Qaddafi, and his one-party state, and the emergence of increasingly dangerous competition between tribal and Islamist factions in Libya.In July, Tripoli’s airport was briefly shut down after a bomb blast, and Libya’s neighbours, Egypt and Tunisia, cancelled flights to airports in the country in August. The international response has been swift. Almost all the international organizations, NGOs and embassies evacuated their staff earlier this summer, while 150,000 of Libya’s foreign workers, largely from Bangladesh, Malaysia and the…

  • Scotland’s Oil Future Will Remain In British Hands

    William Wallace must be awfully disappointed. The Scottish voted to remain in the United Kingdom, albeit in exchange for a very nice care package of extra powers from Parliament.  However, while the dreams of a Celtic revival have been crushed for now, energy companies have been united in approving the result. In fact, rarely has a political matter so united the entire spectrum of this industry. For all the talk about energy transitions, new sources and untapped reserves, the energy sector craves stability. And so do the public. Alex Salmond, the outgoing First Minister of Scotland, may have crowed about…

  • Western Sanctions Halt Exxon’s Drilling In Russian Arctic

    Western sanctions against Moscow have forced ExxonMobil Corp. and Kremlin-owned oil giant Rosneft to suspend drilling at an offshore oil well in the Russian Arctic.Bloomberg News broke the story Sept. 19,  quoting individuals familiar with the venture. New U.S. and EU sanctions were imposed on Sept. 12, and activities at the well ground to a halt a few days later, according to three knowledgeable sources who spoke to Bloomberg on the condition of anonymity because they weren’t permitted to discuss the deal between Exxon and Rosneft.Reuters quoted Russian Natural Resources Minister Sergei Donskoi as saying on Sept. 19, "I have…

  • Dim Future For North Sea Energy

    On 18th September 2014, Scotland will vote on the following question:Should Scotland be an independent country?Answer YES and the vote is for independence, answer NO and the vote is to stay with The United Kingdom. Energy has not figured at the top of the debating issues that have been dominated by currency union, the economy and disaffection with Westminster. The future of North Sea oil has been on the second tier but periodically gets thrust into the limelight, normally on the back of sensational headlines about the future. Part of the current reality is that Aberdeen is in the early…