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Megamerger Mania Set To Shake Up Latin America’s Oil and Gas Industry

Megamerger Mania Set To Shake Up Latin America’s Oil and Gas Industry

Enauta's strategic acquisitions and proposed…

Biden Administration's SPR Plans Derailed by Oil Price Surge

Biden Administration's SPR Plans Derailed by Oil Price Surge

The Biden Administration cancels planned…

Energy / Crude Oil

Crude Oil Is Approaching A Major Retracement Zone

Jan 05, 2018 at 14:01 | Jim Hyerczyk

U.S. West Texas Intermediate crude oil finished 2017 higher in what can best be described as a volatile two-sided trade. After trending lower from January to June, the market stabilized…

Iraqi Oil Exports Grow On Strong Asian Demand

Jan 05, 2018 at 10:33 | Matt Smith

It is both the best and worst of times for the current Iraqi oil market. Iraqi oil minister Jabbar al-Luaibi said this week that Iraqi oil fields in the south…

OPEC Should Thank Venezuela For Falling Production

Jan 04, 2018 at 09:10 | Irina Slav

OPEC’s crude oil production remained largely unchanged from November in December, but that was mostly thanks to a 50,000-bpd decline in Venezuela’s production, as well as further cuts in Saudi…

What’s Behind The Canadian Rig Count Crash

Jan 03, 2018 at 14:26 | Nick Cunningham

The U.S. rig count has been on the rise for months, despite some recent hiccups, but Canada’s rig count recently plunged amid low oil prices. Canada’s rig count fell from…

Can Norway Survive Without Big Oil?

Jan 03, 2018 at 14:19 | Irina Slav

Supermajors are shunning Arctic oil exploration in Norway, or at least that’s the overwhelming feeling after the last licensing round conducted by the Norwegian Petroleum Directorate in early December. Eleven…

Saudi Oil Exports To China Hit One-Year Low

Jan 03, 2018 at 11:51 | Tsvetana Paraskova

Saudi Arabia’s crude oil exports en route to China in December were 20 percent lower compared to November, which would be the lowest level of Saudi crude sales to China…

Russia Boosts 2017 Crude Oil Production To 30-Year High

Jan 02, 2018 at 11:29 | Tsvetana Paraskova

Despite the fact that Russia is cutting its oil production as part of OPEC and allies’ deal to restrict global oil supply, Moscow’s average daily crude oil production inched up…

Forties Pipeline To Return To Normal Rates Around New Year

Dec 29, 2017 at 14:21 | Tsvetana Paraskova

The Forties Pipeline in the North Sea is expected to return to normal flow rates of some 450,000 bpd around new year, the operator of the pipeline, Ineos, said in…

Venezuela To Launch Oil-Backed Petro Cryptocurrency Within Days

Dec 29, 2017 at 09:26 | Tsvetana Paraskova

Venezuela is getting ready to launch within days its own cryptocurrency--El Petro--which will be backed by more than 5.3 billion barrels of oil and support $267 billion worth of financial…

Oil Prices Steady After EIA Reports Crude Draw

Dec 28, 2017 at 10:09 | Irina Slav

Amid a mixture of news pulling oil prices in opposite directions the Energy Information Administration reported another draw in U.S. crude oil inventories for the week to December 22. The…

Oil Giants Are Increasingly Focused On Sustainability

Dec 27, 2017 at 11:49 | Nick Cunningham

Pioneer Natural Resources just published its first Sustainability Report, a sign that a growing number of oil companies are feeling the heat from investors over climate change. Environmental groups…

Permian Beats Own Record In Oil Production

Dec 27, 2017 at 09:17 | Irina Slav

The Permian Basin pumped an estimated 815 million barrels of crude this year, beating its previous record of 790 million barrels, achieved back in 1973, IHS Markit reported. The…

Oil Market Will Rebalance By March: Iraqi Minister

Dec 26, 2017 at 09:58 | Irina Slav

With what has now become habitual optimism, the Iraqi oil minister, Jabar al Luaibi, said he expected the global oil market to rebalance by the end of the first…

Saudi Arabia Eyes 80% Jump In Oil Revenues By 2023

Dec 26, 2017 at 09:23 | Irina Slav

Saudi Arabia sees oil revenues soaring by 80 percent over the next six years, according to unnamed sources that spoke to Bloomberg. The information is not public yet but…

Shale Growth Hides Underlying Problems

Dec 22, 2017 at 13:25 | Nick Cunningham

All eyes are on U.S. shale as we head into 2018, with a growing number of analysts worrying that shale will spoil the oil price rally. Estimates of supply growth…

The Surprising Location Of Next Year’s Shale Rush

Dec 21, 2017 at 13:09 | Tsvetana Paraskova

Higher oil prices in recent months have instilled renewed confidence in U.S. shale drillers and prompted them to look for drilling opportunities in basins beyond the permanent growth story these…

Oil Prices Rise After Strong Crude Inventory Draw

Dec 20, 2017 at 09:46 | Irina Slav

The Energy Information Administration reported yet another inventory draw for last week, making it the fifth one in a row with falling inventories. The authority said inventories had gone…

Wall Street Returns To U.S. Shale With A Bang

Dec 19, 2017 at 14:53 | Nick Cunningham

Investors have grown wary of U.S. shale after years of disappointing returns, and they have pressed shale companies to rein in reckless drilling practices. But with money still pouring…

The World's Biggest Offshore Boom Is Accelerating

Dec 19, 2017 at 14:26 | Nick Cunningham

In a sign that Brazil’s offshore sector is competitive in a world of $50–$60 oil prices, two large oil companies just announced significant investments in oil fields in the South…

The Next Big Hurdle For Keystone XL

Dec 19, 2017 at 13:50 | Tsvetana Paraskova

Nearly a decade has passed since TransCanada first proposed in 2008 to build the Keystone XL pipeline that would run from Alberta in Canada to Nebraska and the U.S.…

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