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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.

  • Global Energy Advisory – 18th April 2014

    Delays Ahead for Mexico Energy ReformsImplementation of Mexico’s much-awaited sweeping energy reforms is likely to be delayed as lawmakers grapple with secondary legislation that is trying to make its way through a current congressional session, which ends on 30 April. The latest news is that the lawmakers may need “extra weeks” to pass the secondary laws, which have yet to be presented in the session. In December, Mexico’s Congress approved sweeping energy reforms that will end state-run Pemex’s monopoly on crude oil production. Once the details of the reforms are in place, we could be looking at significant new streams…

  • Russia’s Arctic Prize Won’t Be As Big As Many Think

    Gazprom sent its first shipment of oil from its controversial Russian Arctic offshore platform on April 18, a landmark event that Russian President Vladimir Putin said would contribute to economic growth. “The start of loading the oil produced at Prirazlomnaya means that the entire project will exert a most encouraging influence on Russia’s presence on the energy markets and will stimulate the Russian economy in general and its energy sector in particular,” he said. Putin was on hand to witness to first shipment of 70,000 tonnes of oil, which was loaded onto a tanker from the Prirazlomnoye platform, the same…

  • Canada Embracing Climate Control Measures to Support Oil Sector

    Environmental advocacy groups put Canadian oil sands on the same footing as a weapon of mass destruction. With limited trade options on hand, provincial leaders are now trying to recast the Canadian oil sector's image with a green hue.The processes involved in exploiting the more viscous form of crude oil found in the Athabasca region of Alberta are viewed as detrimental to human health and the global environment.A government report last week found the emissions tied to oil sands means the Canadian energy industry passed the transportation sector as the country's largest source of pollution. Oil and natural gas production…

  • U.S. Will Export Oil – Who Wins and Who Loses?

    The surge in U.S. oil production in 2010 has left a glut of oil trapped within the United States. To be sure, the U.S. is by far the largest consumer of oil in the world, so it’s not like all that extra oil sloshing around can’t find a home. But, due to a mismatch between the light, sweet crude coming out of places like the Bakken and the Eagle Ford, and the preponderance of refineries on the Gulf Coast equipped to handle heavier, sourer types of oil, there are local surpluses in supply. As a result, prices are somewhat depressed…

  • Iran Expanding Presence on International Oil Stage

    Iranian Oil Minister Bijan Zanganeh said oil production from the Islamic republic could increase even with harsh economic sanctions in place. In late December, Tehran said it would pump as much oil as it could if sanctions are lifted. Now, it seems, OPEC is taking notice. Zanganeh said he was ready to tap into all available oil resources despite Western economic sanctions targeting his country's energy sector. "We are hoping to see sanctions shrink, however we assume the harshest circumstances and draw up our roadmap assuming that sanctions will not be altered," he said. Related Article: Russia-Iran Oil Swap Deal Gains MomentumIran…

  • Safety Issues May Curb Oil-by-Rail Potential

    A lack of pipeline infrastructure in Northern Plains states is unlikely to slow oil production, analysis finds. The sector could be constrained, however, amid national and international concerns about the safety of transporting oil by rail. Analysis last week from Wood Mackenzie finds more than 70 percent of the crude oil produced from the Williston Basin is leaving the region by rail. Production from the region is accelerating at a rate that's straining existing pipeline capacity, forcing energy companies to rely on rail as a transit alternative. Wood Mackenzie said rail capacity has now outpaced pipelines for regional transit, though that wouldn't…

  • Russia-Iran Oil Swap Deal Gains Momentum

    Russia and Iran are moving closer to a $20 billion oil-for-goods deal launched earlier this year, according to a Reuters report citing unnamed sources close to the deal. Russia has finished preparation of all documents related to the deal on its side, and the deal’s completion now allegedly hinges on an oil price agreement, the source reportedly said. The deal could eventually be worth $15-$20 billion, but would be completed in increments, with an initial $6-$8 billion transaction, while both sides are still bargaining over the exact nature of a barter deal that would trade Iranian oil for Russian industrial…

  • US Tight Oil Reaches 10% of World Production

    US overall crude oil production has reached more than 10% of the world’s total production, up from 9% in the fourth quarter of 2012, according to a new report by the Energy Information Administration (EIA). As of the fourth quarter of 2013, the US is contributing more than 10% to total global crude oil supply thanks largely to advances in hydraulic fracturing and drilling technology behind the production boom in Texas, North Dakota and other burgeoning venues in the West. Carrying the weight of the production increase is tight oil, which averaged 3.22 million barrels per day (MMbbl/d) in the…

  • U.S. Taking on More Saudi Oil despite Shale Glut

    The U.S. Energy Department said imports from OPEC increased year-on-year, with Saudi Arabia accounting for the bulk of additional oil. While oil production from the United States has increased, the data show the global market is still interconnected. The U.S. Energy Information Administration reported the amount of petroleum imported from members of the Organization of Petroleum Exporting Countries was 3.57 million barrels per day in December, the last full month for which data are available from EIA.   While only 0.5 percent higher year-on-year, the increase suggests the global energy market is still interconnected despite the success of shale. Imports from Venezuela,…

  • The 3 Most Important Numbers in Energy – 28th March 2014

    The Insider’s weekly run-down of critical figures and happenings from around the energy world.76.2%. Year-on-year increase in Chinese LNG imports during January. With shipments into the country totaling 2.65 million tonnes during the month.The big jump comes as overall Chinese natural gas demand is surging. China’s apparent demand in January grew 15.3% to 16.89 billion cubic meters, according to calculations from Platts. The country’s growing appetite for natgas is increasingly being met by imports—with domestic production currently running at just 10.99 billion cubic meters, or 65% of overall demand. Total imports for January were up 48%, met by a combination…