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Energy / Crude Oil

Canada’s Oil Industry Doomed If Prices Fall Lower

Aug 18, 2017 at 15:46 | Nick Cunningham

Canada’s oil industry has faced a lot of strain lately. The list of oil majors selling off assets and withdrawing from high-cost oil sands is long. ConocoPhillips, Royal Dutch Shell,…

Trump’s Atlantic Drilling Plan May Be A Lost Cause

Aug 18, 2017 at 15:39 | Nick Cunningham

A key public comment period just ended for revising the offshore exploration program along the U.S. Atlantic Coast, and the path forward might not be as smooth as the Trump…

Indonesia’s Ailing Oil Sector Needs Urgent Overhaul

Aug 18, 2017 at 15:36 | Irina Slav

Indonesia’s oil industry is languishing, it’s fields are depleting and it desperately needs investment, but unlike another up-and-coming oil major—Argentina—it’s not willing to do what is necessary to lure in…

Could UK Oil Production Peak Again In 2019?

Aug 18, 2017 at 15:22 | Ron Patterson

Production History And Reserves UK oil production peaked in 1999. The peak was probably pushed out a couple of years because of the major production interruptions following the Piper Alpha…

New Congo Govt Eyes 25% Oil Output Boost By Next Year

Aug 18, 2017 at 11:30 | Zainab Calcuttawala

The prime minister and cabinet of Congo resigned on Thursday amid economic turmoil related to three years of low oil prices, according to reports emerging from the region, but…

These Oil Giants Just Jumped Into A Brand New Market

Aug 18, 2017 at 09:46 | Tsvetana Paraskova

In a sign that Mexico’s energy reform continues to attract foreign companies, Chevron and Glencore have announced separate plans for jumping into the Mexican retail fuel market, joining other big…

The Make Or Break Moment For Argentina’s Shale Boom

Aug 17, 2017 at 14:29 | Tsvetana Paraskova

Argentina’s abundant shale resources have attracted a growing number of major international companies since the beginning of this year—all of them interested in developing the prized Vaca Muerta shale…

Alaska’s Conflicted Oil Future

Aug 17, 2017 at 14:25 | Haley Zaremba

Alaska, the final frontier, may be the next oil industry goldmine thanks to aggressive drilling, changing environmental policies, and a bullish administration. Not all Alaskans, however, are on board with…

Angolan Oil Confident Ahead Of Critical Elections

Aug 17, 2017 at 14:22 | Irina Slav

After Angola’s critical elections, the oil will still flow, unabated—despite talk of a potential opposition upset. Angola is—on any given day—Africa’s first or second-largest producer. In recent months, it’s been…

Russia Claims To Have Invented Alternative To Fracking

Aug 17, 2017 at 09:08 | Tsvetana Paraskova

Russian scientists and local oil field services companies claim to have created a technology for thermochemical gas fracturing that could be an alternative to hydraulic fracturing and could increase oil…

The Strategic Petroleum Reserve Is Slowly Dying

Aug 16, 2017 at 15:59 | Irina Slav

Forty years ago, in the wake of the Arab oil embargo that made the United States acutely aware of just how dependent its economy was on imported crude, the government…

Is Gulf Of Mexico Oil Output About To Peak?

Aug 16, 2017 at 15:49 | Gregory Brew

Amid strong indicators that U.S. shale production will reach new heights by the end of 2017, efforts to promote further exploration and production in the Gulf of Mexico, long…

Libya Boosts Oil Output At Biggest Field

Aug 16, 2017 at 10:58 | Tsvetana Paraskova

Libya is returning with more barrels to the market after its biggest oil field started raising production and an export terminal re-opened for tanker loading.     Crude oil output at…

Oil Prices Rise On Hefty Crude Inventory Draw

Aug 16, 2017 at 09:47 | Irina Slav

Another week, another draw – this seems to be the refrain this driving season, with the API and the EIA in sync with their weekly figures most of the time.…

Foreign Oil Eyes 44 Billion Barrels In Cuba

Aug 15, 2017 at 12:55 | Irina Slav

One of the few foreign energy companies with a presence in Cuba is now seeking funding for a 2018 exploration drilling campaign for Block 9, which is expected to hold…

Oil Tycoon Pushes For Venezuela Sanctions

Aug 14, 2017 at 14:25 | Tsvetana Paraskova

The U.S. has stepped up sanctions against Venezuelan individuals in the wake of the July vote in Venezuela aimed at rewriting the constitution, which is further eroding democracy in the…

Is OPEC Counting Too Much On Venezuela Sanctions?

Aug 11, 2017 at 16:08 | Gregory Brew

The Organization of Petroleum Exporting Countries (OPEC) released its monthly oil market report on Thursday, and the news was enough to send WTI below $50 after…

Brazil’s Pre-Salt Extraction Costs Fall To $8 Per Barrel

Aug 11, 2017 at 16:04 | Haley Zaremba

Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being…

Little-Known Driller Dives Into Perilous Venezuelan Oil Market

Aug 11, 2017 at 16:03 | Tsvetana Paraskova

Two weeks before he held a vote to set up an assembly to re-write the constitution—further undermining democracy—Venezuelan President Nicolas Maduro hosted the signing of a contract with a small…

Could Bitcoin Provide A Hedge Against Venezuela’s Failing Oil Industry?

Aug 11, 2017 at 16:00 | Michael Kern

Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional…

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